Jeffrey Sachs: "We're in a crisis and it will get worse in the coming months."

We are very honored that the next guest of PFI Talks was Jeffrey Sachs, a world-renowned economist, University Professor and Director of the Center for Sustainable Development at Columbia University, where he directed the Earth Institute from 2002 until 2016. Jeffrey Sachs was twice named as Time magazine’s 100 most influential world leaders, and was ranked by The Economist among the top three most influential living economists.
Leoš Rousek, the head of corporate communications at PPF Group (www.ppf.eu/en) and contributor of PFI Talks, talked with professor Sachs.
You can find the video with Czech subtitles and the article on the E15 website: www.e15.cz/rozhovory/svetova-...

[@kekewilliams5017]

😮 this guy is amazing! Been seeing Jeffrey Sachs face on a bunch of YT videos & finally listened to one. Great thoughtful & informative interview & guest. Thx for having him 🙏🏼

[@JeromeArmstrong]

You should listen to his interview with RFK Jr. Its on a podcast.

[@qubit0002]

One of the few Americans on the public stage with a rational view of global politics.

[@YTStopCensoringFreedomOfspeech]

The fact that his views are the minority and the US is controlled by forces that clearly want more war. Humanity is doomed until the US gets political leaders who aren't war profiteers.

[@deathlarsen7502]

Hardly by promoting the green New deal

[@evegoodmon]

Weak man

[@pauljohn-paul4767]

The truth is out there. Thanks Jeff. 🖤♥️💛💚

[@user-bc1pk3pz7j]

Thanks to your thoughtful ideas and your experience in the topics being discussed, Jeffrey. I greatly value this.

[@riseandshinemrfriman5925]

That was a very pleasing to listen to and enlightening conversation. Thank you.

[@abdulghani8269]

The world need more guy like Mr. J. Sachs, Thank you

[@QwkDraw]

When you can figure a way around greed, pride, hypocrisy, lying and cheating, I think you'll be well on your way to solving the world's problems and then countries working together. Personally, I'd don't see that day coming anytime soon. But, I agree with what you're saying . . . a very intelligent and articulate man.

[@abdaljabbarhusayn610]

The exploitation of man by man can only end in one thing and that is unhappiness for both. Neither prospers, knowing in the deepest recesses of the core of the Soul that he has profiteered from another man unfairly and the other due to having been exploited remains doomed as well. Until we admit this and recognise it, we can never move forward and remain deluded. It’s the thinking that must change not the economics. Nothing wrong with profits and wealth but not through exploitation of another.

[@QwkDraw]

@@abdaljabbarhusayn610 I wish I'd have said it in 'that' way.

[@stellanixon4802]

That is also a globalist shill, research him at the Vatican, don't remember the date but it's eye opening

[@NEMO-NEMO]

@@abdaljabbarhusayn610 We will never achieve any recognition that “our thinking” has to change unless we change our CHARACTER! We, as a human race, have been given a handbook( rule book) that makes it very clear what that character should be! It’s called the TEN COMMANDMENTS, and it’s the character of God. Man cannot change himself, he does not have that capacity. The only change that must occur in all of us is the desire to change and the recognition that God has offered the how to. Man’s’ problem is that believes in himself rather than in the Creator that created him.

[@jamesarchdeacon4926]

Good luck with that with it going on at every corner and if I want what I want I should have lied I should have cheated I won't get what I want when going about it the right way."you're not gonna get what you want Jimmy because you were to honest" . -gary .... "You're a liar jimmy."-Anthony "what?! I'm the most honest person I know .I'll tell ony self before anyone else can." "EXACTLY! YOU HAVE TO STOP DOING THAT MAN". -anthony...It's not that easy.... I'm all confused and broken and my brain is all fucked up and everyone fucked my shit up.

[@liquidpodcast]

World needs more interviews like those. Well done Prague Finance Institute

[@mischa1880]

They should have done interviews like this 15 years ago. Now it’s too late. Jeffery Sachs is saying what everyone knows now.

[@timwong2226]

Thank you. I admire his thoughts and his vision. Jeff is a cool guy. War is bad. Save mother earth.

[@helenakolar]

@@mischa1880 I agree, but they don't carriage to say it publicly.

[@joecaruso06]

Fear would never keep anyone safe rather it will keep you disadvantaged and unprepared. In light of the current global state of the economy, it is selfish to have leaders vested in national disputes. We need to do better as individual nation. A nation's growth and an economic recession are related. Economic downturns are natural, just like human ups and downs, and now is the moment to rethink the policies that are to blame. In either case, I'm happy I sold the vast majority of my holdings at a premium.

[@mattpredictsofm.]

Watch your finances like a hawk. -H. Jackson Brown, Jr.

[@maryalchester]

I'm not completely against selling now. True, many businesses would suffer losses as a result of the recession or even depression, but a boom always follows a dip. This is just another reason why financial preparation is crucial. Businesses who have planned ahead will succeed despite this. Consider how I was able to enhance my ROI this bear season by about 20% by following Yvonne Anette Lively's advice. To the best of my understanding, it primarily involves knowing when to enter and exit a situation.

[@alyoshaivanovv]

@@maryalchester that’s real impressive considering the economic imbalance at the moment. What assets do you hold or trace? I’m currently vested with bonds and a bit of etfs. I could look up your coac -Yvonne Annette Lively on the web huh?

[@jahjamal]

@@maryalchester Yvonne Annette Lively right? impressive!

[@bradsandler3526]

@@jahjamal she sure does have an impressive page

[@robertoa.m.3984]

Congratulations 👏 to the Prague Finance Institute for posting this! Please continue to do so!.....I was Ambassador to your beautiful Chec Republic and adore Prague, Dvorak and Smetana!!

[@mischa1880]

Congratulations to this interview? Do you have any idea what was done to the Czech people by the western powers?

[@robertoa.m.3984]

Learn how to read.....you misunderstood

[@cheeks2696]

Sachs= fresh air! May you live to be 200 years old!

[@johnbould7544]

Thoughtful man. I agree with his views on confrontation vs cooperation. The US needs to get its act together and stop destabilizing everywhere it goes.

[@testtest-lc4xz]

I get the feeling he's trustworthy and a good person, which is rare these days.

[@vincentgarcia-delgado6265]

Your feeling is absolutely right. I've been following Prof Sachs for about two decades now, since that historical United Nations Millennium Summit (2000) which adopted the Millennium Development Goals (MDGs). Prof Sachs was an energized advocate of the MDGs and played a uniquely influential role in their adoption as Special Advisor to UN Secretary General Kofi Annan, A remarkable moment in human history it was when the largest assemblage ever of Heads of State and Government came together on such a noble example of human cooperation for the common good. Prof Sachs hasn't changed a bit since then, but the World has, and certainly not for the better. Jeffrey Sachs goes for diplomacy to prevent or resolve conflicts rather than threats and violence. In twenty-two years, the Human Family has gone from hope to dread. May Jeffrey Sachs and people like him prevail.

[@sjp4u338]

You need to rethink that one

[@bmc868]

M. Sachs is very smart. The world would be a better place with more people like him

[@paulfaigl8329]

Didn't you want to say without him? He is an agent of WEF...a great globalist. Putin has burned out his swimming pool.

[@kayvanwonderer]

Go become.

[@robertoa.m.3984]

To Jeffrey Sachs: dear maestro: I was your "pupil" at the Kennedy School. Please continue your public criteria and manifestations. The world needs your mind and vision. Best regards. Ambassador Roberto Augusto Martínez Castañeda.

[@advancetotabletop5030]

Inflation strikes me more and more as a very course measure of economic health. Because the real problem with inflation is usually unequal inflation. In this instance energy prices. I think it's so popular to use because targeted inflation reduction actually requires public policy(politics) to stabilize prices as opposed to just giving the power to banks to effectively make investment decisions for private interests as opposed to public good. Nice relatively straight forward explanation.

[@hobbs252]

@@thebullsofwallstreet8436 I wish people can see things from this perspective sooner than later. Things are really going south and everybody is acting cool. How can one reach this advisor?

[@AmandaMichelle.]

Thank you for this amazing tip. Verified her, wrote her, and scheduled a Phone call. She seems Proficient.

[@purijagmohan]

We need more sane voices like Prof. Sachs. Less war, more co-operation leading to growth for all.

[@AlexGarcia-ze4yg]

You should be a cheerleading coach.

[@donnasherwood283]

you are being played he has a long history of involvement in policy that has led to where we are. He is actually "INSANE" a eugenicist supporter of the NWO. He appears now as an agent of real disinformation hoping to offset the expected catastrophic results of Nov. performing as if he is in opposition to policies he helped create. This not hypocrisy it is subversion at its highest level. There is absolutely NO REASON TO TRUST anything he says. Never mind what he is saying watch what he does. He is able to directly affect policy at the highest level. Sounds like a moronic contributor to the Nation magazine a hysterical piece of propaganda garbage that has been around most of my adult lifetime. If he has genuinely had a change of heart I am 100% with him but lets see how this plays out before we profess KNEE JERK approval of his current supposed positions on covid and ukraine. This from a man who knows better.

[@MichaelDeMersLA]

You should be a chef at Taco Bell 🔔

[@Diana1000Smiles]

What about Climate Change?

[@AlexGarcia-ze4yg]

@@Diana1000Smiles Though this is an issue, the vast majority of people who are concerned with climate change are young, white college educated folks speaking from a position of middle class comfort in gentrified communities and don't even really even socialize with black people. But constantly speak of love and togetherness.

[@junal27]

Educated and well spoken this professional, serious insights and valuable information. I concur with his projection of future storms, thank you for the interview

[@andymilic4093]

He is awesome,shame about applauding the fairy tale European green Deal! Yet another long- con , which will effectively lower the std of life for all but the richest,& ultimately lead to catastrophic failure,there isn't a 2050 carbon neutral timeframe - it's been established that's actually 2250, another prediction without merit,he seems more than bright enough to know better

[@800_k_7]

Over the years I have heard about the distinguish intelectual and professor Mr. Jeffrey Sachs, but I was not prepared to belief his amazing knowledge over politic and history event. Mr. Sachs approach to the conflict of our time is indeed the most effective. Thank you Mr. Jeffrey Sachs for showings our leader and politicians the way for diplomacy and cooperation. God bless you sir!

[@slawomirhering3770]

He spend most his time on sustainable climate change and Paris Agreement = UN CHEMTRAILS they all should be hang in old fashion way for this. I have substantial evidend right her in Poland even today sunday 04 September 2022 clear sky all day dump CHEMTRAILS. THIS HAS TO STOP CRIME AGAINST ME AND ALL HUMAN RACE THEY WILL DISTROY CROPS WITH WEATHER CONTROL PROGRAM.

[@enriquericardofloresmariaz5648]

Thanks for the invitation. Excellent questios and very intelligent answers. Best

[@crinklecut3790]

It’s ironic that we’re discussing the European green deal at a time when Europe is firing up its coal fired power plants and hoarding firewood.

[@garyswank1043]

Globalist want to talk GND. They maintain control that way. On the other hand, concerned citizens want to focus on immediate problems like how is my family going to survive and prosper through the coming crises of energy, food and peace.

[@slawomirhering3770]

He spend most his time on sustainable climate change and Paris Agreement = UN CHEMTRAILS they all should be hang in old fashion way for this. I have substantial evidend right her in Poland even today sunday 04 September 2022 clear sky all day dump CHEMTRAILS. THIS HAS TO STOP CRIME AGAINST ME AND ALL HUMAN RACE THEY WILL DISTROY CROPS WITH WEATHER CONTROL PROGRAM.

[@lovecandles5672]

and being advised not to take showers. LOL

[@aceofswords1725]

Everything "green" and "sustainable" is a globalist fraud at this point. All of it.

[@Leila-sd1sl]

@@lovecandles5672 - don't forget the one meal per day as well as wearing all your winter jackets and sweaters. lol

[@MadnessMotorcycle]

Young people should be encouraged to become economists. You can be wrong 100% of the time and still make a pretty good living.

[@rodgerasai]

Yes and there's no need to waste a lot of time becoming familiar with all those dusty old, historical documents of biographies. Just pay a lot of dough for some initials added to your name from a diploma mill and start raking it in. [ We have it on good authority that in the coming years - large portions of the debt incurred for the non-education may magically evaporate or be rehypothecated into unrecognizable instruments because Freedom isn't Free.]

[@louismcglasson7913]

Good living? Not!

[@ld4122]

Also a weatherman and politician.

[@Mikesorrento3344]

Actually working for the Federal Reserve is a better gig. Many economists have been right on the money as we are going to live the shitstorm unfolding now. The Federal Reserve has never been right. Ever.

[@mikefardi9157]

This man is a fu....ing traitor. Most of us deserve to die when we can't recognize that people like him are riding on the slavery. Don't you see how he is defending this bankrupt system!?

[@dusanpavlovic491]

One of the most briliant mind I'd ever seen. Thank you professor. We love you. Greetings from Serbia!

[@jamesteh829]

Prof. Jeffrey, you are really good and put many USA 🇺🇸 think tanks to shame. My respect for you and I share your speeches to all my peers.

[@Diana1000Smiles]

😆 We Earthlings could never have a healthy economy without a healthy environment.

[@jamesteh829]

@@Diana1000Smiles We must always know who are the main culprits!

[@hdj81Vlimited]

he is a SACHS, he belongs to the 1% elite......... working for WEF.

[@jamesteh829]

@@hdj81Vlimited however, there are many working there but do no know such

[@amybennett8901]

Jeffery is great

[@kingdomcome6078]

Mark Twain: "Sometimes I wonder whether the world is being run by smart people who are putting us on or by imbeciles who really mean it." Greetings and full support for J. Sachs from Slovakia I very much like the video on KZbin, it was in 2018 on corporate MSNBC, where he was very openly criticizing the US military intervention in Syria, the whole US foreign policy in The Middle East region! He talked about TIMBER SYCAMORE, US war atrocities and crimes! He is my boy!!!!

[@MrKansaitim]

Thanks for that Twain quote!!!

[@kingdomcome6078]

@@LM-if2xp 1 Tim 6:10 For the love of money is a root of all kinds of evil

[@sandralangen7750]

No, he is mine!!!!

[@MrDavinci1965]

He's very high minded. He and his "ideas" will be warm and well fed this winter. Unlike many Europeans which he led down this path. This winter, ideas and reality will have a meeting.

[@luperamos7307]

The politicians in Europe actually got a lot of popular support to lead Europe down this path. They already got massive support when they integrated the EU even though some countries were so much poorer than others. It's really incredible the mindset Europeans have.

[@MrDavinci1965]

@@luperamos7307 , We will see how this works out for them.

[@Mcv5400]

Dr Sachs, you’re 👍👍👍

[@nancytai1550]

Professor Sachs has wise advice the world needs to listen to!

[@theresabates6058]

Fantastic analysis from Dr. Jeffrey Sachs. Thank you PFI for putting this excellent analysis and discussion up. I also love your beautiful country.

[@alexgoslar4057]

Thank you, Jeffrey Sachs. Obsessed with gaining superiority makes us forget that in commerce, business and politics, a monopole situation does not exist. Ignoring the need to negotiate a balance always results in an implosion.

[@AdaptableAutonomousHouse]

Modern financial system just pushes responsibility around enriching oligarchs without providing infrastructure for the economy

[@slawomirhering3770]

He spend most his time on sustainable climate change and Paris Agreement = UN CHEMTRAILS they all should be hang in old fashion way for this. I have substantial evidend right her in Poland even today sunday 04 September 2022 clear sky all day dump CHEMTRAILS. THIS HAS TO STOP CRIME AGAINST ME AND ALL HUMAN RACE THEY WILL DISTROY CROPS WITH WEATHER CONTROL PROGRAM.

[@brutallyremastered4255]

Gee whizz, let’s forget about the stripping of Yeltsin era Russia, huh?

[@ShmuelWeintraub]

Mr. Goslar: Indeed. Another way of saying that would be that when you put stupid and evil minded people in charge, stupid things tend to happen.

[@donaldkasper8346]

The stronger win. Negotiating is done when you cannot win.

[@Jay...777]

Wise words. But no politician is listening.

[@cliffbarber1642]

Fascinating if not alarming interview about the big challenges the world is entering into. Professor Sachs your clarity and intelligence on so many issues is refreshing.

[@cranny1321]

Jeffrey Sachs is a very smart guy. The world needs more people like him as our leaders.

[@richardcashley5856]

You Think !

[@rd264]

wishful thinking is not analysis

[@fc2790]

But, economists are good at Analysis, not making decisions. We need politicians who can make decisions.

[@Minimalist11Guy]

What a wise and calm person, with a great view of our way forward; please also be the Prime Minister of Britain.

[@ximenaclaure2524]

You are my hero, you should lead our planet. My deep admiration for you and your colleagues. Im Bolivian American and thank you again for all you have done around our beloved planet. I might be a dreamer but I see the world with out the need to emigrate because they live happy and comfortable in their own countries. I see a world with bridges and supersonic trains that unite us and we could go shopping to Patagonia if we want, or live in Costa Rica, Canada or Japan. The value of living in a good community that respect nature , the animal communities and cultural believes and religions. A responsible, sustainable world view over the greedy psychopathic behavior of fewer people that profit from the suffering of others has to be a thing of the past.

[@johnleong4807]

Professor Jeffery Sachs has been on many platforms sharing his knowledge and skill , a man of principle and highly respectable by all. Thank you Jeff.

[@gannoifong7979]

If only the present global leaders listen to Jeffery Sachs advice.

[@jacobjorgenson9285]

Oh, they hear him, but they don’t listen

[@jacobjorgenson9285]

@@Braun09tv imagine if YOU ran the central bank 🥳🥳🥳🤣🤣🤣

[@dunnedavid5521]

Who are the puppeteers behind this global instability, and how much money are they making and for what?

[@francocholo1247]

@@dunnedavid5521 Transnational finance, concentrated in the City of London.

[@jacobjorgenson9285]

@@Braun09tv you wouldn’t even Begin To understand what that would mean to the world . Just worry about yourself and your loved ones

[@charleskesner1302]

Always good to hear from Jeffrey Sachs. Thanks. A negotiated settlement in the Ukraine crisis is needed now more than ever for world stability.

[@valkaielod]

There will be one. They are just molding the terrain/minds for it. Now is not the time.

[@Ab-km9tr]

I am amazed by professor Jeffery sachs who could not sale his moral ethics. Simply amazing person ❤

[@kavirajan2008]

A sane voice in the troubled times.

[@surprisedmike]

It is nice to hear a voice of reason particularly amidst a cacophany of nonsense.

[@blogintonblakley2708]

It's really crazy how we keep trying the same things over and over again. I have a lot of respect for Jeffrey Sachs... but any plan that leaves the same people in charge and control of the vast majority of the world's resources is just more of the same thinking that has gotten us into this mess in the first place.

[@raginald7mars408]

"WE"? who is "WE"....

[@stup4501]

@@raginald7mars408 Humanity?

[@stup4501]

“Insanity is doing the same thing over and over and expecting different results.” Albert Einstein.

[@normalizedinsanity4873]

It's like living in a kindergarten

[@George-vf7ss]

The problem comes when you lend money to the International mud people and print money to attempt to quell ones domestic tribes from getting jiggy.

[@getgal1]

Could you set up a negotiation team to start talks with both parties about ending the war before winter?

[@rachellee2515]

professor sachs is not only intelligent, knowledgeable and articulate. he delivers his argument with passion and point blank logic. if more leaders of the world were like him, global peace wont seem like a pipedream anymore.

[@themetalprincess]

Knowledgeable, professional, sound advice. Thank you guys!

[@robertoa.m.3984]

Sometimes we see light at the end of the Tunnel......only to realize it comes from a train rushing towards US!

[@KB-of3zk]

Great questions and interview. Thanking you here from the “US” for the heads up about the next few years.

[@invisiblehands2780]

Wow, thank you Mr. Sachs

[@albacan]

Highly credible and good to listen to such objectivity. When will the good doctor review the economic malaise in the US?

[@trioofone8911]

Mr Sachs references hydropower. As a denizen of the Western US, I must say that hydro power is no longer dependable, for a larger and larger slice of the economies of the world. In California and Nevada, we are having to decide between power generation and water for people. Similar problems plague much of the Northern Hemisphere, and additional wrinkles such as the problem of moving freight on the major rivers of both Europe and China while the water levels diminish to nothing. I am an environmentalist, but I still believe that a wholesale embrace of nuclear power is one of the necessary things the world economies need to pursue, and hydro power is no longer a dependable power generation ally.

[@jimuren2388]

California is embracing the destruction of dams used for hydropower. Apparently fish are inconvenienced. So we don't even have to wait for global warming to boil rivers dry to end hydropower LOL. Env activists are taking care of it.

[@markuc]

Hydro should be just one of many renewable power options. Relying on any one source is shortsighted and simply asking for trouble.

[@marksouthern7542]

Why does the Green Left always oppose nuclear energy? I suspect they have higher ideological goals that can be met by making us energy poor. If you can control energy, you can control people. How far they can drive, fly, how they live.....just a thought.

[@geob8172]

Love Jeffrey Sachs. A great Human.

[@SlavicRusa]

Jeffree 💕 all always ON POINT. Come back to New STAY FREE AF SEASON 💕 Fantastic Interview and both of you brought many important points. We need more of you in todays world.

[@carolchase2632]

Beautifully said. Thank You Dr. Jeffrey Sachs !

[@slawomirhering3770]

He spend most his time on sustainable climate change and Paris Agreement = UN CHEMTRAILS they all should be hang in old fashion way for this. I have substantial evidend right her in Poland even today sunday 04 September 2022 clear sky all day dump CHEMTRAILS. THIS HAS TO STOP CRIME AGAINST ME AND ALL HUMAN RACE THEY WILL DISTROY CROPS WITH WEATHER CONTROL PROGRAM.

[@chrisanderson7820]

No mention of the Euro? One of the biggest problems in the West in managing economies & contagion. Linking disparate economies under a single currency is economic madness.

[@roberto4898]

BID should propose the Eurodollar currency

[@luperamos7307]

True. But isn't that also the case here? Alabama is not comparable to California. Through Federal funding a lot of the blue states fund the red states. And a lot of the red states have the nerve to complain.

[@occupy7545]

An old man bearish on the most innovative time in history, makes sense.

[@vivienbailey8079]

Professor Humanitarian Jeffrey Sachs should be the next President of USA. Fantastic insight 👏 My eyes are open.

[@JoscelinTrouwborst]

The interviewer makes a mistake mind framing the Ukraine matter as a Russian - Ukraine conflict, while it is a long standing USA (NATO) - Russian conflict with Ukraine as a proxy now.

[@naradaian]

He either supports the present Czech puppet premier or maybe wants to keep his job - nevertheless the 70,000 were demonstrating in Prague yesterday against the US nato war and the EU involvement in the Ukrainian civil war so come back in 2 months in deep,mid winter and see if he remains sanguine

[@michaeljohnson2922]

My wife and I are debt free, own a thriving plumbing business and live far below our means. Bring it on, we’re ready.

[@Uofmdoc]

GENIUS ! The solution to the debt problem is more debt.

[@Catcatcat3210]

Nice to see Lenin doing so well. Great discussion.

[@erikeparsels]

Sure, he was advocating that the international institutions "help" countries avoid default. So countries shouldn't engage in money creation to finance debt but should cast themselves on the tender mercy of the likes of the IMF. Right. How about countries engage in expansionary fiscal policy to finance real job creation and regulate their financial sector to prevent the money flowing into asset bubbles and speculation?

[@tonysu8860]

It should be recognized that MMT is still a very new and largely inexperienced way to manage an economy. It's one of those things that might be a silver bullet for every known economic problem so far or it could be the cause of the most severe collapse imaginable. The problem for most emerging countries is that the very reason why they are undeveloped is because of the lack of economic sophistication which typically includes and involves financial management. The most obvious examples in full view today are the various BRI projects around the world. It's incredibly insane for any business much less a country to build an infrastructure project which will take years, maybe a decade to complete with uncertain social, world and economic prospects when complete and to depend on expected revenue of new businesses that will magically appear to pay back the infrastructure costs on a short schedule. No competent businessman would enter any deal like that and very few capital investors. At least in the capital investment world, it's recognized that there are very few home runs and a vast number of projects will fail... It's the expectation that over a large enough number of projects that the capital investors expect to come out ahead. But, countries can't bet their own futures in this way.

[@igorseprak6177]

He is just saying that countries should refinance. Boring.

[@michaelcre8]

Every economic downturn everywhere always has the same cause. Housing becomes too expensive for labor to be competitive. That's the so called middle income trap of developing economies and it's why the American banks failed in 2008. It wasn't because the Fed drove Lehman out of business like Sachs said. The reason is very simple. Banks print too much money for mortgages to inflate housing prices instead of the business lending that creates new competitive services and production. The banks do it intentionally. The property owners of the middle and upper classes want free money from the banks and the government for owning property. They don't want the banks to create jobs by lending and venture capital to create competitive production and services because that raises wages which helps the working class instead of their classes.

[@will.roman-ros]

I really like your take. This would explain why we're still stuck on lithium ion and fossil fuels too - prob bc the banks have enough skin to partially or advantageously control those markets too. For example, they could lend to a certain number of drillers, and know when that will create a surplus, or not lend, and increase demand.

[@mysterioanonymous3206]

That's not what the middle income trap is...

[@mysterioanonymous3206]

@@davidharrison9732 that's not what the middle income trap is. US isn't even a middle income nation. Man, are you people smoking Crack or what? You guys have no clue what you're talking sbout: en.m.wikipedia.org/wiki/Middle_income_trap

[@marksouthern7542]

Interesting. I have been puzzled why housing keeps becoming more and more expensive. I live in Australia which has huge amounts of land and yet we have some of the most expensive housing in the world (especially Sydney and Melbourne). Why is this? It must also have something to do with demand and supply.

[@nosheizer1294]

Banks don't print money, and you don't know what "the middle income trap" is. Geez, at least get the basics correct.

[@justice_for_the_damned2807]

Sounds like Sachs is recommending more Belt & Road Initiative and less IMF. If I am understanding him correctly, I applaud his suggestion.

[@ximenaclaure2524]

I really admire and listen to this professional. He has deep knowledge about how to prevent a crisis. He did in Poland, he did in Bolivia. He is an expert on economics. I would recommend many economists to analyze the cono effect of the neoliberalism and the global economy. Many think Im socialist, but I actually believe in analyzing every economical system and the repercussions on each sectors of economy. Get the best of every system and go back to small industries and local businesses it is not a bad idea . Im a marketing analyst and I value every strategy that create common well. Neoliberalism has brought to much inequality. The concentration of wealth in little hands and the devastation of many economies and the environment is the result of a capitalism in agony. The fundamental principles of freedom and justice are fading away. The fact that the dollar is loosing value is the abuse of power from the monetary system in place. To have a multipolar world with international laws that are for all and not for all but one, might prevent the abuse that create the monopoly of markets and maybe it is going to promote better banking relationships and regulated markets by quality of products, innovation and better social programs community based.

[@Ilaab1995]

I fully agree with Prof. Sachs. In fact, I have been promoting his approach to solving our long-term challenges since winter of 1979 when I concluded my undergraduate education. The biggest obstacle to implementing his ideas for sustainable development are the United States because of her desire to dominate the world in an effort to impose her highly flawed financial and economic systems. Yes, war is the worst enemy of sustainability. I wastes colossal amounts of energy in the production of the implements of war, the operation of war (the US military consumes as much energy as the fifth ranked country in terms of energy used). Moreover, it takes huge amounts of capital, energy and resources to rebuild a country after a war. By the way, I cannot wrap my head around Europe's, especially Germany's, subservience to the U.S. The German Green Party, that is current in charge of two key ministries (foreign affairs and economy) is a dismal failure of epic proportions. If they are not stopped, we will see a late stage Weimar Republik repeat.

[@Time4Peace]

Even the German media DW is subservient to US, not just the political elites. The German is indeed a disappointment.

[@kingdomcome6078]

Germany"s subservience to the US? How many German military bases are there in the US? None! How many US military bases are there in Germany? 40! There are also US nuclear weapons!!!

[@Ilaab1995]

@@kingdomcome6078... Thanks for your comment. Are you telling us that Germany has no choice but to accept US diktat because of its military presence? I don't think so. Germany refused to go along with the U.S. in Vietnam and refused again when the U.S. started its war of aggression on Iraq.

[@Ilaab1995]

@@Time4Peace, and also Der Spiegel and most German media.

[@denisdaly1708]

Agree. I wish I knew of Jeffrey before about 4 years ago.

[@user-rb7rx9cs6y]

“Definitely we need top down codification” - he’s correct that the market will not solve the crisis and it’s refreshing to hear an economist not caught in the illusion of “market democracy” as the way to fix the problem. Yet as always what gets ignored is the past 50 years of American government up to the present characterized by those in power not implementing “top down codification” and no signs of a change in this regard in the future. Meanwhile we are careening towards 3 degrees Celsius or higher even with the Paris agreement which is not being adhered to and it remains clear that society is and will be even more ill-equipped to handle the crisis as it compounds.

[@dialecticalmonist3405]

Man does not create temperature change. This psudo science lie IS THE CAUSE of the currenct crisis. What the heck is WRONG with people? How can you be this gullible?

[@detrockcity3]

There’s no crisis. Fuck top-down everything. It always fails. And there’s a lot of us out here who are going to ensure it does rather promptly. Global government is an idea fucking morons and conquerors have. He top-down fucked the post-Soviet world when they wanted help establishing capitalism. Instead they got oligarchs and rapacious Westerners running off with everything. We’re done with these solutions. Bleed the globalists for energy. Hurry, hurry, no time for reading; the science says it works!

[@LordBlk]

Yeah, top down.. Really sounds to me like corruption and collusion. The SDG are some of the worst things for the world. It is dressed up nice, but it plays right into the agenda 2030. Life will be different for everyone but the super wealthy.

[@judithhoward1643]

What a truthful person/scholar. Rare.

[@anttiheiskala4660]

Thank you professor Sachs! When you describe to people what has happened in the world, honestly and clearly like this, it gives many hope that maybe, just maybe, there still is some light in the other end of the dark, arrogant and ignorant, horrible tunnel the US is forcing on everyone in the world right now. That maybe there still are some healthy forces of reason left inside the US, and just maybe they will some day come on top. All the US needs right now is democracy, and the biggest obstacle to achieve this are the gigantic media corporations owned and controlled by the very few, the richest of the rich. The first step towards any democracy is to brake the huge media empires down to smaller independent pieces. As long as this doesn't happen there is no real chance for democracy, real freedom of speech and things to get any better. I'm writing from Finland and have to say the situation here has become horrible during the last years, all sort of lawlessness happening all the time, mainstram media in war psychosis and trying to push us all to war psychosis, and to violent hate, to war I quess. A proxy-war of others. For years NATO and it's war machine has been just pushing in to our country, our right-wing president collaborating completely unconstitutionally behind the scenes, all happening just as planned by the same neocons who pushed Ukraine to where it is right now. All this backed by Nato's huge propaganda war all over the Finnish media and social media. Censorship worse than ever. No critical words allowed. Mouths shut up. Nato has taken the power here, when our president Niinistö is just a puppet and the prime minister, Sanna Marin, is just going what ever direction she is told by the mighty and powerfull. Finland has now a very high risk of becoming the next to fight the war of american neocons, including Biden, because of the weakness, stupidity and utter immorality of our political leaders today. This is very scary. Never seen anything like this in this country before.

[@janstapaj9689]

First you are saying you are from Finland. So one question why Finland was building bunkers allover for last 50 years or so and modernized army on daily basis if it is NATO who force thus situation in EU .

[@anttiheiskala4660]

The most important Finnish military doctrine used to be simple and effective: "Finland does not allow its territory to be used against any other country". And we meant it. A perfect and easy doctrine for all other coutries to understand and remember. And when backed with a capable army, easy to believe. But now when our weak right-wing president, Sauli Niinistö, has worked Finland to surrender and let Nato to set all the rules for us, all this is gone and the safety around us now gone. The peace gone. Our poor president even criticized this perfect doktrine that had made our borders peacefull for decades as "oldfashioned", and de facto ruled Finland to disregard that doctrine that everyone had respected and that had ensured our peace. Our president even made our army chief to sing an agreement with the US that says that Finland will be supporting the US military forces, with all the means we have, even if the US just decides to attack an other country through our territory! So Finland supports War. In short: President Niinistö betrayed Finland.

[@MichaelDeMersLA]

Sorry for your trouble. The majority of legal votes were not cast for Biden, if that is any consolation to you lol

[@junsu21]

@@MichaelDeMersLA leave your Trumpian nonsense somewhere else please. Maybe one day you will stop believing his self serving lies, instead of getting on your knees before his feet

[@pedantic70]

I agree with your criticism of the media and so did Trump. As Trump said, "the media is the enemy of the people". And then the media set about destroying him. But the good news is that the media is destroying itself a little more each year, as their fake news is destroying their credibility a little more each year. There are polls on the media, which show that even Democrats are losing trust in their favorite news sources. And when the trust is gone in the media, then there's hope for positive changes in America as a whole, including the government and big business. The whole world will benefit. It seems like only a matter of time, although it's talking too long, I must admit.

[@larrysherk]

How true it seems, that we need world cooperation, just as we need world peace. As long as countries like the U. S. maintain imperialist ambitions and refusal to talk to others, we will remain in trouble. I wish my country, the United States, would get with it and grow up. The world is ready for peace, if some adolescents in the crowd don't mess it up.

[@sethstriker]

America's imperialistic ways? Sure, like 100 years ago. How about you go to Russia or China and see how you like it there. Believe me, we won't miss you.

[@tazragames6770]

Where are the adults in US leadership?

[@sethstriker]

@@tazragames6770 just because you don’t agree with the US foreign policy doesn’t mean that there are no adults managing the situation.

[@tazragames6770]

@@sethstriker they look like adults but they certainly have not an iota of adult qualities nor wisdom on a global scale. So I ask again, where are the adults in US leadership?

[@sethstriker]

@@tazragames6770 Again and for the last time. Just because you do not agree, does not mean that your assertion have any legs to stand on.

[@Spacedog79]

What we see in Europe is the failure of the wind and solar project, it is too intermittent and makes the end cost of electricity very high. If they had spent that money on nuclear and Germany had kept it's plants open they would be far more self-reliant and there would not have been a war in Ukraine.

[@peterfireflylund]

The “greens” did exactly what first the Soviet Union and later Russia paid them for.

[@sapere7]

Votre réponse reste inaudible pour beaucoup malheureusement, parmi ceux qui nous gouvernent mais , plus spectaculaire, chez ceux qui sont censés s’occuper d’écologie. On veut s’entêter à couvrir les territoires d’éoliennes qui ne pourront jamais remplacer nos besoins toujours croissants d’énergie. La preuve est dans la crise de ce moment. Des pays qu’on nous donnait comme exemple dans l’investissement et développement d’énergie “ renouvelables “ souffrent encore plus que ceux qui n’ont pas renoncé au nucléaire, comme en France. Il n’y a pas de “transition “énergétique, mais plutôt une “accumulation “, toutes ces nouvelles sources d’énergie s’accumulent aux énergies fossiles dont la consommation ne diminue pas .

[@sjp4u338]

Brought on by people like you Sachs

[@johnsrinivasan4507]

This Story reminds me of The Pathologist - Knows everything , Does everything , but after the patient is dead.

[@MrTL3wis]

He seems like a bright dude who is a bit Polly-Anna-ish in his actions.

[@kanpakloykan7105]

The US & Western culture in spiralling free fall due it it's culture & patronising attitude. Since majority have this mind set, it sure going to the desmire of the US & Western life in the comming years. No hope for them but only look with despair in their behaviour.

[@aevans-jl9ym]

I live in London in the UK and many parts of my city now resemble a 3rd world country. One of the main reasons America and the West are failing is that the rest of the world is moving there in unsustainable numbers.

[@citizenm9590]

I saw this coming i ended moving to developing nation and best decision I have ever made. Countries with rich minerals with rich resource and great birth of younger population will be in better situation in the future

[@clarestucki5151]

When the gov't engages in massive monetary inflation ("stimulus pmts"), and 'fights' the inevitable price inflation by means of raising interest rates, the inevitable result is Stagflation.

[@michaelascheffler4229]

Thank u so much for this video

[@user-js9dq4we4j]

I wonder what Dr Sachs thinks about Brexit. Always great analysis from him and very helpful to me.

[@irag9815]

Great interview! Without collaboration economic systems will simply collapse, but now everything is getting only worse

[@xerasion]

Good. Let this evil demonic economic system collapse. Good riddance. All it does is extract all the value from our lives to heap more wealth onto the super wealthy. The sooner we get rid of global oligarchic capitalism, the sooner we can start to clean up the carnage it has wrought. Let's get rid of it before it gets rid of us with robots, pandemics, famine and war. The longer we hold on to the fantasy that capitalism is merocratic and deserves to exist, the closer we get to extinction.

[@naturewatcher7596]

It seems to be the goal of globalists. A way to get rid of competitors?

[@jyotisankaran8926]

While Jeffrey Sach's analysis of the current world economic situation is largely correct, it is worth remembering that his has been a chequered , and not too distinguished a career as a world economic analyst. In 1991, when the Soviet Union collapsed, he recommended that the constituent countriesin general and Russia in particular be forced to immediately transition from a centralized communist system to a free market economy, arguing cynically that the best way to learn swimming was to get in at the deep end of the pool. This remedy, which was heartily embraced by the western nations as necessary bitter medicine to recover from the ills of communism, proved to be catastrophic, overnight condemning half of the population of a once-superpower to abject poverty and penury. This is the principal reason for the rise of the likes of Putin who promise to restore Russia to its former grandeur. Although Mr Sachs made a mea culpa a few years later admitting that it would have been wiser to transition gradually to a open market system, a la the Chinese model, it was too late to erase the deep distrust of western nations by the Russian people.

[@peterfireflylund]

It worked quite well in the former Warsaw Pact countries, though.

[@donaldkasper8346]

Nah. Putin and Xi came to power after the 2008 meltdown to save communism. They did that by stealing all the wealth of their citizens. Xi raided all the tech companies for money, for example, under the name of cleaning up corruption.

[@donaldkasper8346]

Chinese model opened up for a bit, then collapsed after 2008. By 2015, dollar exports were banned. Later, rich companies were raided, the rich were raided. The US and somewhat the EU survived the 2008 collapse, but remember, China and Russia did not recover.

[@donaldkasper8346]

Russia collapsed and we gave them a $5 billion dollar loan to tide them over to stabilize.

[@ilovu7790]

@@peterfireflylund quite well, yeah, lot of national business was sold to foreign companies for pennies with huge bribes and the rest was controled by the post-comunist secret service with overtaking any prosperous independent business which arouse on the way. All with the background of corruption, murders etc. But yeah, quite well at the end. It could be much worse.. 😉

[@juanangeles8211]

One thing i often notice with Jeffery is "i am" & "my recommendation", and everyone is the reason we have a problem, blame eveyone - but not Jeffrey.

[@davidcrandall4958]

You might say that!

[@nuggetoftruth-ericking7489]

He will return very soon.

[@jacintochua6885]

The host apparently didn't know what Sach proposed before. How can he pose a question that's entirely contradictory?

[@mad_cat_1st]

11:05 - In my mind, there needs to be a global agreement on the value of labor. The value of labor has been cheapened to the point where the people performing the work have to borrow in order to maintain a decent standard of living. In America, that standard borders on spoiled rotten, and is the reason why most Americans in the "middle class" or "working class" have to borrow and increase their debt load DECADES into the future. Wages have been stagnant for 40 years, and most manufacturing jobs are created elsewhere. where expectations and living standards aren't nearly as high. My use of the word "class" indicates a caste system in America, not a democracy or a rebpublic. As Americans, we HAVE TO work. We have no choice, unless we are somehow able to invest and/or save. There is no incentive to save, and most investments are priced out of reach of the "working class" American. Now the ability to own property is being taken away. If you're a 1st time home buyer, you can't get a loan these days, and credit ratings mean nothing. VOTE WITH YOUR MONEY, America. STOP SPENDING IT. Self-induced austerity measures are the only way out of the consumerism corner that we've painted the entire world into...

[@donaldkasper8346]

US had its big hoorah after WWII as the only economy standing, and it has gone downhill steadily since then.

[@SunofYork]

Wrong use of "spoiled rotten"...it means 'pampered'

[@mad_cat_1st]

@@SunofYork You want to argue semantics? Did you get the message at all, or are you a really weak troll?

[@walterwong1847]

The global competition is who can consume more and faster by growing their respective country's GDP. We say one thing on sustainability, but the goal of every economy is to consume more and quicker. When can we come to our senses? When we are hurting so bad that we have to face up with our greed of consumption. If we cut our consumption by 50% that is in the more developed societies, we can still live very well and comfortably. Now, who on earth is willing to do that?

[@donaldkasper8346]

@@walterwong1847 Living is not greed.

[@robertschlesinger1342]

Excellent video. Very interesting, informative and worthwhile video.

[@carlsnyder4833]

Me this entire interview: Nodding along as if I understand a word of this.

[@olgagridina8932]

What a reasonable man!

[@lethalschannel2759]

A great analysis. I didn't hear mention of the impact on food resources expected to result from urea fertilizer shortages and idiotic WEF build back better policies on farming. An engineered crisis is what's at hand. You can't "build back better" until you burn down what is already in place.

[@tonysu8860]

There is an interesting new theoretical solution to the high cost (and related shortages) of fossil fuel(NG) sourced nitrogen fertilizers like urea... Plant diversity. For anyone who might be interested in the possibility of growing vibrant fields of crops without fertilizer of any sort, do a search on videos of lectures by Dr Christine Jones on Plant Diversity. She has given so many lectures, there is probably a lecture out there for a person at any level from the uneducated layperson to people who have taken university level biology and chemistry classes. The basic idea is that humans have been gardening and farming badly for all of history by separating our crops and landscapes into clusters of the same type. The discovery is if you grow your crops(or all plants) in a diverse jungle of different species and "function"(tall, short, in ground, above ground) that a multitude of synergistic communities of living organisms in the soil are cultivated that season after season produce the healthiest and most productive plants... that don't require soil amendments and drastically reduce watering (Yes, ironically more plants densely living together uses less water).

[@photodoc100]

Well said.☑️🇦🇺

[@crusader6962]

He is part of WEF.

[@koroglurustem1722]

He is part of WEF and its globalist agenda. He may sound reasonable but he dropped the ball of "top-down control" towards the end if you listened through.

[@JB-yd9nd]

They’re doing a great job of tearing everything down now.

[@jetstream3528]

Fantastic to witness honest people. Thank you !!!!

[@cecilialayer459]

Thank you for this informative Interview. Thank you for this interesting Talks. More Power to you and your You Tube Channel.

[@cob705]

Dark Winter is going to be interesting 🥶🤔

[@kp6215]

This man is "moral & ethical" such as Michael Hudson

[@eyyh2291]

True! The debate between Autocractic Democracy and Democratic Autocracy cannot help solving domestic and world problems.

[@Uofmdoc]

Wonderful sound quality

[@WisdomAndCats]

Jeffrey Sachs is truly one of the best economists.

[@thetruthshallsetyoufree1700]

Sure is!!!

[@Rainstorm121]

I would love to hear Prof Sachs, Prof Wolf and Prof John Mearsheimer at one table discussing US’s mistakes in the foreign policy and ways they could work hand in hand with China, Russia, and other developed countries to solve world problems.

[@Maelli535]

Russia is not a developed country - go and have a look.

[@Rainstorm121]

@@Maelli535 not an issue for me, neither the key point, as long as their collective effort leads to something better than military and war.

[@Maelli535]

@@Rainstorm121 It patently hasn't, has it. And thank God we have an efficeint military and, indeed, highly sophisticated weapons manufacturers, otherwise we'd be greeting Putin as the dictator of the UK as well. War happens, get used to it.

[@Maelli535]

@Dean Clark As I said, go and take a look, I don't give a flying f if a country has different politics to me, so don't insult me. Outside Moscow and St. P., Russia is a third-world country. Go and see, don't pontificate on something you know nothing about.

[@ccahill2322]

Rainstorm, Not "mistakes" but policy. To understand this you have to go back and look at what has been real rather than what was perceived.

[@miladinperic837]

Great guest! Well done

[@johnniewalker7628]

YES, we are BSing our way through it instead of fixing and absorbing the pain.

[@charlesoleary3066]

Forgive him Lord, as he knows not what he has done. The road to hell is paved by good intentions and by insisting on a top down approach will lead to the death of millions. Anything and everything sustainable, must come from the bottom up.

[@JB-yd9nd]

And his comment about not believing in democracies.....scary at best.

[@EMOtions12]

Great points and solutions to the current economic crisis to the world !! Unfortunately, the US Govt is not listening

[@ngangirae-lu6nx]

In crisis .Thank you Jeffrey for all you are doing. And all learnings in your mssages. It will be worse with those narcissists to take this count and not easy work with them.

[@Kid_Ikaris]

I wish more politicians would listen to Mr. Saccs. The world can't afford another era of division. Not in the face of the climate crisis.