🚨WEST'S COLOSSAL MISTAKE: US Decline, Rise of BRICS, Tariffs Damage US Economy |Prof. Richard Wolff

Richard D. Wolff is Professor of Economics Emeritus, University of Massachusetts, Amherst where he taught economics from 1973 to 2008. He is currently a Visiting Professor in the Graduate Program in International Affairs of the New School University, New York City.
Earlier he taught economics at Yale University (1967-1969) and at the City College of the City University of New York (1969-1973). In 1994, he was a Visiting Professor of Economics at the University of Paris (France), I (Sorbonne). Wolff was also regular lecturer at the Brecht Forum in New York City.
Prof Wolff is the co-founder of Democracy at Work and host of their nationally syndicated show Economic Update.
In the interview, we discuss U.S. economic policy, latest tariffs and how protectionist measures will backfire, BRICS+ gaining momentum and surpassing G7 and more.
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Disclamer:
The information provided on this channel should not be construed or relied on as professional advice for any specific fact or circumstance. This channel and its content are designed for entertainment and information purposes only. The content available is created to provide a general overview of a topic and is not a substitute for professional services. Always seek the advice of a finance or a legal professional that would take into account your specific circumstances. Opinions expressed are solely my own. Only publicly available information has been used.

[@c.cryder8398]

When warmongering is your main economic drive - you're in trouble.

[@franzradinger2306]

If you understand "game theory" you will see it's not "warmongering" per se, but this troubles will strike all short-termed, non cooperative business segments.

[@giuseppeleveroni1914]

Cryderi8398. Correct. That what has became my fermarlo belief. We are prisoners of a nest of criminals who just enrich themselves..and......screw the US and its population! I cannot envisage how we are going to climb out of this...if ever.

[@giuseppeleveroni1914]

...firm belief..

[@47PANADERO]

I am in England. Both sides of the pond, we have been betrayed by our governments.

[@user-tw3gs2xv2y]

The decline of the USA is selfinflicted and this process has started a long time ago. It’s influence in the world is diminishing. Threats,sanctions, wars are not working any longer. One reason of this decline is the high corruption in the political system.

[@victorsperandeo3609]

With respect professor Wolff we are not living in CAPITALISM -WE ARE LIVING UNDER CORPORATISM IE FASCISM !

[@kaykay865]

With Marxist culture

[@gchen7612]

The best host I have seen, who never interrupts her guest!

[@jamesvalpuesta]

Once Prof Wolf starts. He doesn't stop. Great Guy 👍 Honest, true information.

[@michkr144]

Exactly what I was thinking. She also asks intelligent questions and makes intelligent, apposite comments.

[@ltraingalaxy122]

Facts

[@oskadavid2964]

THIS IS WHAT YOU GET FOR SUPPORTING ISRAEL AND LETTING THEM RUN YOUR COUNTRY

[@louise_rose]

@@michkr144 Completely agree, and I like her intelligent. no-nonsense attitude (without having to resort to provocations or "push questions". Of course, you could never have fit in an hour-long interview on economics and politics on ordinary TV; their time limit is around ten minutes. :)

[@bradleywwiitala3229]

He starts by stating, "We have a bizarre kind of capitalism in the United States." That's an understatement. I don't believe we have a capitalist system...more like a fascist system.

[@rholalbi8155]

🎯🤦🏿‍♂️💯

[@johngreenwood1884]

I believe you are correct!

[@limitlessenergy369]

Technocracy. Homo Borg Sapiens is next. Transhuman singularity is here.

[@vg7985]

Capitalism always ends up as fascism or socialism.

[@oskadavid2964]

THIS IS WHAT YOU GET FOR SUPPORTING ISRAEL AND LETTING THEM RUN YOUR COUNTRY

[@bfmgxdx]

Has anybody ever said it in a more clear,simple and understandable manner. This should be required listening for everyone.

[@faa9261]

Our country has a lot of blood on their hands. I hope we are ready for what’s coming 😢

[@catcaves]

As Someone quite familiar with Dr. Wolff I am pleased he is getting more exposure on large channels such as Lena's. I hope more people follow Dr. Wolff while he is brilliant and is an excellent communicator while making things easy to understand

[@henrygustav7948]

MMT economists need to call out Prof Wolffs nonsense.

[@catcaves]

@@henrygustav7948 When voodoo is proven

[@ronstephen-wy4ib]

Said the brainwashed Capitalist troll. lol

[@easywalkabout]

When the interviewer doesn't interrupt and allows gest to finish his thoughts, it shows professionalism .

[@johnpurdie3281]

All empires drown in a sea of debt ,we are witnessing in real time the end of the American empire

[@barnabusdoyle4930]

The stupid thing about the tariffs on Chinese EVs is how our car manufacturers need some real competitors to simplify their vehicles and make them far cheaper than what they are currently charging. There is no reason a new car should cost $60k, especially if China can make a better one for $20k

[@edbartkiewicz6117]

I have paid social security taxes and medicare taxes for 48 years. That is not an entitlement.

[@peterfeatherbone6268]

Thank you for inviting Prof Wolff, Lena - very much appreciated.

[@bustjanzupan1074]

Amen 🙂 🙂

[@heyyall1912]

This man is a 1000% right

[@HoneyBadger80886]

I share Prof Wolff's materials re Co-Ops.

[@qake2021]

👍👍👍👏👏👏

[@arctichero1]

with the exception of the false narrative on climate crisis.

[@rodniegsm1575]

It's good that the West I declined. They were parsiting on the wralthof other nations for far too long. Now they are forced to look at themselves and change their parasiting way

[@thinkhector]

​@@arctichero1 Well yes, and no. Only a fool doesn't believe that the Earth's climate doesn't change. It changes all the time , roughly every 15,000 years. It's been warmer, it's been colder. Is it a crisis? Probably not. Is it getting warmer? It definitely is.

[@joselu9023]

Lena, thank you so much for having Professor Wolff in your show. It was such an illuminating discourse laid out in plain simple language that everyone can easily grasp and understand. I am looking forward to the day when a light at the end of the tunnel shines upon us.

[@wilbertPhipps-gj5mc]

The lady doesnt interrupt such an avid listener.and very intelligent

[@AIPretendingToBeHuman]

To give a real-world example, a one-bedroom apartment in the SF/Bay Area costs about $4k/month. In order to qualify to rent that one bedroom you need an annual income of 36x the monthly rent or $144k per year. That is why the starting salary for Tech workers is about $150k/year -- that is the bare minimum to make ends meet. So for the cost of one Tech worker in the Bay Area, you can get three equally qualified engineers in Shanghai. Chinese workers, due to low inflation, have consistently seen their real wages go up; while for the majority of Americans, this is probably not true.

[@jverderber]

I would argue the US hasn’t practiced capitalism in decades. The constant bail outs and subsidies prove that…free market is dead

[@momomama2510]

The US hasn’t practiced capitalism. It practiced crooked capitalism. There is no LOBBYING in capitalism.

[@erigerontriteleia]

Because it’s capitalism ONLY for the average/poor people, but liberal socialism (i.e., bailouts) for the rich - that’s why no matter what, the rich wins!

[@seanmcleod5822]

Yes!

[@faa9261]

And those are socialist policies.

[@Aapig]

Socialist Jewish State of America

[@longxie5129]

US top politicians should take classes with Prof Wolf every day. NO TARIFFS BECAUSE THEY LEAD TO INFLATION! ie they shrink common buyers' walets. Thank you Lena for this enlighting conversation.

[@ChrisZ901]

Those politicians don't care. They are not here to serve the American people. They are here to serve their donors - the special interest groups domestic or foreign (isReal for example), and the military industrial complex

[@bungkusi2432]

Yellen used to take class "with" Prof Woolf every day

[@louise_rose]

Some of the questions he and Ms Petrova (in earlier videos) are asking were also featured in the 1990s classic "The Global Trap", one of the first major bestsellers about the changed game-plan of globalized economics and the undermining of politics - but Mr. Wolf has been around for so long that his research may have inspired some of the discussion in that book.

[@gchiz5067]

No wrong answer!! All of congress already know this information he’s sharing! They all hope the everyday American citizens don’t find out so my question is: will we all collectively agree to vote those out that vote against Raising corporate taxes and tax of the wealthy without us all coming together and staying strong we will continue to have this happen to us that’s why they want the illegals in here that helps the corporations with cheap labor and more profits it’s a damn insane!! Feels like the damn matrix!

[@bungkusi2432]

@@gchiz5067 Actually Prof Woolf just say half part. Other than borrow vs tax You also need to vote out wasting tax payer money. Using money on military is a big mistake

[@XiangJi]

Great take on what’s fundamentally broken about US “democracy”. Unfortunately most Americans will not know this, until it’s too late.

[@jazening3075]

Thank you so very much Professor Richard Wolff & Lena!👍🙏🙂

[@tkh2944]

The plutocratic elites don't want these two sensible economists in their governance as it would be against their interest. Too bad for the normal peoples of the country. 🥹✌️

[@oneofmany1087]

his administration needs PRISON!!!

[@bphelan6920]

Two of my favourite reporters

[@oskadavid2964]

THIS IS WHAT YOU GET FOR SUPPORTING ISRAEL AND LETTING THEM RUN YOUR COUNTRY

[@BlaiseBoyiri]

D. D. Dd dd ðdw

[@PBAR_B1B]

We don't have a tax revenue problem, we have a spending problem.

[@luisaso1109]

THank you, Lena for inviting Professor Wolff. We learned a lot from him!

[@flyrodmike]

Professor Wolff making the economic picture understandable and clear. Its hard to imagine the US turning our decline around when you consider the stranglehold that the corporations and oligarchs have on our government. The US population is being distracted into partisan bickering between two parties who are not really any different and who serve the same masters.

[@el3ali]

Fidel Castro when asked about the difference between Democrats and Republicans said it is the same difference between the right and left shoes

[@barnabusdoyle4930]

The culture issues are just used by the governing to make us fight each other instead of fighting them.

[@uncommonsense5876]

You have it 180° backwards. G0v has the stranglehold on corps like a mafioso demanding br1bes for loopholes, at the expense of the people.

[@2know1self]

​@uncommonsense5876 you got to be kidding me. The CEO of Hewitt Packard told Ronald Reagan in the 80s to wrap up a speech. This was Reagan in the middle of the Cold War and a CEO had Reagan tap dancing on stage. Beware of the Military-Industrial complex. Some people just don't want to wake up.

[@johnheath8882]

The only thing more disheartening than knowing there are many who already know this is the fact there are still too many that don't

[@tropicalbreeze-hh3sh]

You have had great guest before but this professor is absolutely 100% valuable to all who are paying attention. His message NEEDS TO BE SHOUTED FROM THE ROOF TOPS BEFORE IT’S ACTUALLY TO LATE TO CHANGE OUR WAYS. THANK YOU FOR PROVIDING THIS SERVICE AND SERIOUSLY ADVANTAGEOUS AND VERY KNOWLEDGEABLE GUEST YOU HOST ON YOUR SHOW. AWESOME SHOW TODAY, THANK YOU VERY MUCH, I KNOW WHAT I NEED TO DO IF I HAVE ANY CHANCE OF SURVIVING. ALOHA!

[@davidronin1536]

Wolff is brilliant, and succinct. THANK YOU.

[@berhanegebriel3155]

You are 100% EXACTLY RIGHT when you said the rich billionaires and corporations do not want pay their shared tax to keep the majority to keep in poverty.

[@rdallas81]

They are deleting the middle class

[@daniellee8720]

Congrats Lena for having Prof Wolff on and expanding your channel's offerings.

[@cristianopaniconi3019]

Amazing guess and amazing interview. Glad to see there are still some people in this country who speak the TRUTH

[@GreenIsland38]

Prof.Wolff is always spot on with his analysis. The US government should have been paying a lot more attention to people of his calibre and vision.

[@tiptoe38]

They don’t want the truth.

[@henrygustav7948]

Prof Wolff is dead wrong about Government finances. He should know better but instead is spreading misinformation.

[@timjones1583]

We don't have Capitalism,,,,,that died long ago. We have Facism, the blending of BIG business and government. Big business puts individuals in power, Big business profits by this, small business and working people pay for everything and the cycle continues.

[@uleidswaleh5002]

Really..!! Prof Wolf this is the best

[@shahidulislam4636]

We refer the west to mean basically the United States of America and its Western allies including Australia. After WWII, all these countries just followed the United States on every minor or major international issue forgetting its right or wrong sides; it helped the USA to become the world champion in terms of power, authority, and jurisdiction over the international affairs, thus building American Empire! The American empire is now facing rebellion from all around the world in different forms and kinds, and the overextended empire cannot overcome the challenges from the World! The situation further deteriorates because of the colossal mistakes, mismanagement, and incompetence of the leaderships and its Congress!

[@jbb823]

Hands down one of the best videos I have ever listened to on KZbin!!!! PLEASE have the professor back as much as possible!!!!

[@user-tk6ty4ct8g]

Biden makes me sick.

[@alphaomega1351]

That's the illusion they want you to believe. The illusion that who you elect will make a difference. It won't. It is the system that needs changing, and that won't happen unless both parties unanimously agree and/or a 2nd revolution occurs. 😳

[@alphaomega1351]

Voting 🗳 makes no difference. It is the system that is the problem. 🤓

[@JV-zt8lc]

I’m not a Biden fan but if you think trump is the answer he wanted negative rates. Gave the rich a bigger tax break

[@ace9840]

@@JV-zt8lc Anyone who think politicians are the answer to their economic future don’t have much of one.

[@JV-zt8lc]

@@ace9840 that’s pretty much what I was getting at. Most think we can vote our way out of this

[@AIPretendingToBeHuman]

Don't even think about Consumer Goods like cars; imagine Brazilian farmers being able to buy Chinese tractors that are as good or better than American tractors for 1/2 to 1/3 the price American farmers have to pay. Which farmer will be more competitive ? Imagine a factory in Vietnam who can buy CNC machine tools for 1/3 what it costs American factories. Which manufacturer will be more competitive ? China is seeding the world with low-cost, high quality capital goods in agriculture, manufacturing, communication etc. because it needs the world to become richer in order to buy the next generation of Chinese goods e.g. flying cars, as well as be able to supply China with cheaper raw materials. If countries in Africa have automated mines, their output will increase while lowering cost -- so the cost of commodities will go down. Add to this the constant optimization in lowering the cost of transportation and trade -- in essence, this is what I believe the Chinese mean when they say "win-win". To see the actual data, I recommend the YT channel "Inside China Business"

[@sinic1978]

People outside the West already know how advanced China is but people living in the West especially Americans are clueless.

[@DarlyaFaroeste]

Viva Free market. 😂😂😂

[@barnabusdoyle4930]

@@sinic1978 When Biden’s Commerce Secretary went to China and came back with the latest smart phone from them, she was so shocked that China was able to develop such an advanced device with the sanctions we have on them. The western think tanks have this odd belief that only westerners can figure out the oil rigs, microchips, flying cars and so on. So we heavily underestimate what the world is capable of doing. Example, the US put sanctions on China to keep them from being able to buy the most advanced microchips and sanctions to prevent them from buying the western made equipment to make the most advanced microchips. This has resulted in China starting with low end chips, manufacturing those and moving up to building their own production equipment to make the high end chips themselves. The west didn’t think China would be able to do that even though they already have. The way those sanctions are going to backfire will be closing the Chinese markets off from western chip makers who will have to compete with the much cheaper advanced chips being made by the Chinese companies in a year or so. Thus creating the monster that will crush the western chip makers through the sanctions they used to try to stop it from happening.

[@bungkusi2432]

Actually Chinese farming equipment is 1/5 of American (i.e. CAT)

[@dss2mtm]

💯

[@shouleewang4131]

Where are the “green” protectionists in America to speak up against Biden’s severe tariff penalty on Chinese EVs?

[@bungkusi2432]

The green is actually a group that want to pressure china and developing nations.

[@crhu319]

The Green Party is anti war. Anti NATO. Anti Zionist occupation. And has always advocated distributing the opportunity in the new efficient electric resilient conomy.

[@davidcook6224]

Exactly

[@happymelon7129]

29-3-2024, Biden’s $7.5 billion investment in EV charging has only produced 7 stations in two years. After two years, that program has only delivered seven open charging stations with a total of 38 spots where drivers can charge their vehicles, according to a spokesperson for the Federal Highway Administration. (The funding should be enough to build up to 20,000 charging spots or around 5,000 stations, according to analysis from the EV policy analyst group Atlas Public Policy.)

[@lynnelee4390]

​@@happymelon7129that's because it's just another scam, to funnel money to politicians

[@t-lm]

In contrast to Hungary - a small nation with high intelligence - that has already witnessed the mismanagement of the US-led Western world. They do not let lose everything due to their mistakes. Instead, Hungary is fully open up to China, which is progressing and advancing rapidly. China has no intention of changing our political system. Hungary has recently welcomed three Chinese electric car factories, bringing job opportunities and technological advancements. Interestingly, the Hungarian words for "China" (Kína) and "offer/sell" (kínál) are almost identical, reflecting the country's close ties to trade.

[@jjhoughton2812]

Thanks. I was a baccarat dealer at a new casino in Southern Ontario. Most of the gamblers with a lot of cash were Chinese. I listened to their thinking and moved to SEAsia after 9/11. Americans work against EACH OTHER for an illusion of control? YOU know the END right?💫 🤔🌍✌🏝

[@JKent-ry9yg]

I remember coming home from college, early 70's, Christmas, my father said he had just sold his cotton crop for 65 cents a pound. I was a DFW industy Financial Analyst and practicing CPA most of my life, farm cotton past 12 years. Last week average grade cotton was selling for 63 cents - I lose money at 80 cents. Cotton prices the same as 50 years ago, expenses gone up 10X. Open borders, illegals wanting a free ride, and getting it, trillion more in debt every 100 days, Brics - does not take much sense to figure the outcome of all this.

[@anniepette9795]

We don't need cotton. We buy our clothes in the store. We don't need farmers, we buy our food in the store Eat the bug's and share or rent your clothes Agenda 20-30. World Economic Forum

[@coloaten6682]

America needs to change the system just like we do here in UK. Govt always have someone to blame for their corruption, usually Brown people. Rich have too much power, blame them.

[@artistmikelmato7159]

If you stoped bombing all these countries, stirring shit with regime changes and wars , creating unspeakable suffering, stervation and hardship with your immoral and criminal sanctions maybe all these immigrants that you blaming for "free riding" , then maybe they might want to stay in their homes with their families in their countries

[@artistmikelmato7159]

USA and the West has been free riding the world for centuries so don't blame immigrants

[@yaoliang1580]

The illegal immigrants are victims of US imperialism

[@brandonchoo9764]

13:30. Everyone else except Americans knew Japan and China are the biggest debt holders. And China is letting them mature and investing in gold and commodities.

[@Siclone23]

China owns America

[@sinic1978]

Japan has also stopped buying Treasuries. After both China and Japan have exited the US public debt market private investors will follow suit.

[@tedlahm5740]

Selling treasuries to buy gold.

[@richardenders6606]

@brandonchoo9764 - China's $800 billion loan is not such a big deal in terms of the $35 trillion debt, it only represents about 80 days of new US borrowing requirements When nobody will lend to the US at current rates all that is left is printing and even more inflation, it could all happen quickly and a lot of the damage will be as a result of the US losing its Ukrainian war on Russia

[@Dennis0824]

China is not letting them mature. Just in the last quarter, China sold $52 Billion of US debt. That is up from $32 billion in the previous quarter. China no longer purchasing any US debt and within 3 years it will no longer own any US debt. When there are no buyers for US debt what will happen with interest rates?

[@d.c.monday4153]

Two intelligent people talking about economics - a subject that usually goes over my head - in a way that even a dummy like me can understand! Well done, great show!

[@normpelletier4402]

Prof Wolff you are so honest and accurate I anticipate civil unrest could be a distinct possibility

[@davecrosby77]

Did anyone in the west pay attention to the delegation that accompanied President Putin on his trip to China. There was a sizeable contingent from large Russian Banks who went with President Putin for a single purpose, to meet with their counterparts in China. To begin a process to develop personal relationships and contacts. I would say the basic message is to tell the west goodbye and as Foreign Minister stated after this trip 'it will likely be over 10 years before relations with the west can get back to something reasonable'.

[@aldas3831]

I believe he said one generation…

[@jimim8514]

These “Corporations” aren’t paying their taxes, as they indirectly pay individuals who are also allegedly avoid paying taxes. This deficit is a fire-sale, the smoking of this kindling will eventually lose its warm cozy feeling and possibly choke out the fire starters

[@samaval9920]

Corporations have too many tax avoidance means. 1) to bribe parties & canddates to A) reduce taxes B) totally eliminate taxes C) hide money in tax shelters

[@augustinelopez3880]

🤔🤨BULLIES CAN'T DICTATE TO A CROWD TIRED OF THEM NOR THEY KNOW WHEN IT DON'T WORK, ONLY AT THE TIME THEY ARE NO LONGER ALOUD TO ENTER THE NEIGHBORHOOD AND SEE THAT THERE WOULD BE CONSEQUENCES AND REPERCUSSIONS SINCE BULLIES ARE COWARDS AND ONLY PRAY ON THE OPPRESSED MEEK THAT NO LONGER RESIST AND THOSE WHOM RESIST THEY FEAR FOR BEFORE THEM THEY REVEAL THEMSELVES AND ARE KNOWN AS THEY REALLY ARE COWARDS FULL OF FEAR OF THEIR INFERIORITY BEEN REVEALED FOR ALL TO SEE THEY CAN ONLY RESORT TO THE TREATS OF VIOLENCE THE VERY THING THEY FEAR THE MOST IS OTHERS TO RECOGNIZE THEM FORE THEY ARE NO ONE IS ANY LONGER AFRAID OF THEM OR THEIR FRIENDS👈👁👉 Ye Should Recognize The Dying Drowning Kicking Old X Empires Embassies and Allies That Refuse The Reality That The New Imperialist Club Members Try Modern Treats and Lures that No longer Work of Imposters" Nations Like Zionazis" of " Democracies" Dangerous to any Peoples or Nations that in it's Territories have One of their Embassies Racist Warmongers Actual Real Evidential Evil and Corporate Industrial Incentives for " DEVELOPMENT " Greed and Lack of Humanity Proven by their Warmongering Belligerent Oppressive Murderous Present World Conduct in all Aspects of their Relationship with Other Nations and Peoples Disregarding their Human Rights Independence Internal External National Environmental Interest Customs Choices and Laws. 👈👁👉For this day's work, lords, you have encouraged treason and opened the prison doors to free the traitors. A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and he carries his banners openly against the city. But the traitor moves among those within the gates freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears no traitor; he speaks in the accents familiar to his victims, and he wears their face and their garments, and he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation; he works secretly and unknown in the night to undermine the pillars of a city; he infects the body politic so that it can no longer resist. A murderer is less to be feared. The traitor is the carrier of the plague. You have unbarred the gates of Rome to him. Since they are the World Plague 🙄🧐...

[@keng528]

This is exactly why what you're doing is way more important than you could ever imagine possibly. you were born for this moment and I think u realize it 🎉

[@chairman76]

This is the first time in over 500 years that Western global dominance has truly been challenged. Compared to the West, BRICS have much faster growing economies, much younger median age of their populations, an abundance of natural resources and most of the industrial capability.

[@robwestphal1]

Lena, you amaze me in your ability to feature some of the most truly brilliant people in the country to enlighten and educate us all. The manner in which you and your guests convey complex information in such a well organized and simplistic way is nothing short of remarkable. Keep up the great work, and please bring Mr. Wolff back in the future... his value is extraordinary!

[@gautamsinha5998]

Professor explains it so well

[@rdallas81]

Word soup. Doesn't equate to anything. Nothing will change. The middle class is being eliminated. They don't want that class. Communism for you- and us but Bolsheviks for them

[@outdoorswithwoodswoman8467]

people can't even afford food and gas anymore let alone rent..wtf are we going to do?

[@YAHVISIONRowles]

🤔 Richard Wolf is always a great interview. His knowledge and information that he delivers is always insightful 🤓😎

[@yolo_bdamckenzie9112]

very very very smart man i could listen him all day

[@albertcadgame8314]

He is a prof, no doubt about it. To explain something so clearly that even a layman can understand it, that person has to be very knowledgeable about that subject.

[@WeAretheWorld89]

Two great and intelligent men. Richard wolff and George Galloway.

[@omarmy3495]

Intellectually honest people.

[@dwaynehudspeth2073]

What does that have to do with the subject matter?

[@sydneyyan1290]

Brillant host Lena too!

[@rexluminus9867]

​@@dwaynehudspeth2073 You'll know that later,student. 😊

[@afgdoncorleone4010]

Dr Wolf is one of the greatest minds in Economics.. Lena thank you for the great guest & your great work…

[@catcaves]

As Someone quite familiar with Dr. Wolff I am pleased he is getting more exposure on large channels such as Lena's. I hope more people follow Dr. Wolff while he is brilliant and is an excellent communicator while making things easy to understand

[@lilbfrom094princeton8]

You know we’re getting into the details when she puts those glasses on. Been listening to Professor RDW since I was a teenager back in 2007. The world is much much different now.

[@HoneyBadger80886]

Same....about 2015 I picked up on @ProfWolff. Lena's growing on me.

[@mikeJohnson2222]

Should be a "Decentralized Enterprise".

[@bungkusi2432]

​@@mikeJohnson2222 Just like Huawei

[@hammadsethi5329]

Industrialised West never dished out its products to third world countries in exchange for Paper Promissory Notes.

[@alrent2992]

💯 true story. 👍

[@alrent2992]

The only thing dished out is bullying, demeanor. Coerced and threatened others. Not ever in a good way.

[@ace9840]

All fiat currencies have been Paper Promissory Notes.

[@hammadsethi5329]

@@ace9840 What I am trying to point out is that if they keep running a debt economy in the West for too long then they will destroy their middle classes and most people won’t even be able to afford industrial products from China. Just like it used to be for third world countries in the past versus the industrial powers of the West. Most people won’t have the “millions” of dollars they would need to buy an electric vehicle from China or even from the United States. Inflation is depreciating the Dollar and decreasing real wages and purchasing power of the people. Only the one percent “haves” will be able to afford any car and the 99 percent “have-nots” will have to live without just as it used to be in India and Pakistan. I am a student of economics and economics is as unpredictable as any other social science. Maybe I am wrong.

[@rudihofer7212]

not quite , but i see were youre comming from ,,,reverse that and you would be closer to the truth AS LONG AS USA IS CONTROLLED BY THE FED . reserve which is just an wxtension of the bank of LONDON which is totally owened by Rothschild Cartel since even before the cartel existed 1897 . Bank of london england was bought out 2815/18 by Rothschilds for farthings on the pound sterling in 1815/18 , with false rumours about Napoleon’s suxcwesses avainst the Tzar of Russia . They hate the russia s and the hapsburgs fir kicking them out of europe ! Both the first wold war andthe crimean war were instrumental wars created and fomented by them ! Second ww was fomented by the bruts and to get a erica involved the brits had warships located in Singapore flaged as american attack japanese shipping of oil from Indonesia . Fuck and demise , worlds second great shit disturbers after Gehngis Kahn

[@manganim197]

Economics philosopher.long live Mr Worlf.the best busness professor in our time.long live legend.thanks for the work you are doing.

[@rnbnz4899]

Lena you are a polished host, thankyou for a wonderful interview. This talk with Prof Wolff held my attention from start to finish. Please keep it up.

[@ButchCassidyAndSundanceKid]

Prof. Wolff should be a Nobel Laureate in Economics !

[@chuckdawit]

He's a joke and a Marxist. He's one of the main reasons out colleges are woke and un-educating our students.

[@ryszardrakowski2711]

Unfortunately, Nobel Prize for economics went to economically illiterate Paul Krugman for his idiotic "uniform, global carbon tax". Welcome to asylum run by lunatics.

[@piotrczubryt1111]

It is too simple and too common sense. Not Price material ;)

[@ryszardrakowski2711]

😉👍

[@ButchCassidyAndSundanceKid]

@@piotrczubryt1111 Both Paul Krugman and Amartya Sen have given the similar level talks on youtube, so you don't think they deserved the Nobel prize in Economics ?

[@georgemcelroy1472]

Physiology of Plunder When Plunder Becomes A Way Of Life For A Group Of Men In A Society, Over The Course Of Time They Create For Themselves A Legal System That Authorizes It And A Moral Code That Glorifies It. Fre'de'ric Basiat

[@MASMIWA]

Always interesting to listen to Professor Wolff. In the end, when the US is bankrupt, all debt becomes uncollectable or paid with worthless dollars. That is one of the reasons China is moving to reduce its Treasury holdings and buying gold. Japan has a different problem. It needs dollars to prop up the Yen. The Yen is going over a cliff and is worth almost half of what it was worth several years ago.

[@warsofparadigm]

It seems that Japan is pivoting towards the BRICS alliance as well. They are working with China on de-dollarization. I am not sure where this will lead china/Japan relations but it is definitely a sign that Japan recognizes they they may be tied to a compromised business relationship with the west.

[@user-dw4qn3zc3m]

Dr. Wolff is an intelligent, knowledgeable, and integrated expert.

[@NicheID]

This has to be one of the most intriguing and eye opening conversation I had the pleasure of listening to around the subject of geo-political and socio-economic and it impact in shaping the new world order. Professor Wolff is a living legend. This is worth listen to over and over. Thanks Lena sharing this amazing and timely information.

[@mikedemarco4168]

I agree with Professor Richard Wolff's assessment. It is time for our government to reduce 100% of all non-US related spending. This should include all grants, loans, cash, bonds and any other forms of finance. No more support of Ukraine or Israel until the United Staes Government has reduced its spending by a minimum of 20%-30%. Congress should not agree to increase any future spending until these reduction goals have been met. Every department in the government will be required to cut their costs by a minimum of 10-15% across the board. All unnecessary travel, conferences and meetings will be cancelled. These will be conducted by zoom calls only.

[@samstone4320]

Israel needs your money.

[@johnnyBrwn]

Not sure this will work. There's inflation, low birthrates, automation, climate catastrophe, etc.

[@gz6x]

Extreme unlikely. This trend has been for decades. All we could do is to prepare accordingly.

[@barnabusdoyle4930]

You can go through the government budgets and find so much waste of people justifying their existence and wasting their budget so their budget is even larger next year or quarter. If we actually looked at the federal budget, punished the people who are exploiting it to get rich, cut unnecessary subsidies or grants (we subsidize corn, explain why) and start having the government do its own stuff instead of subcontracting to businesses we can finally actually cut spending enough to easily balance the budget.

[@albertcadgame8314]

US need to cut down military spending. That is where most of the money went. It is unnecessary to spending so much on military. PLUS reduce military bases around the world, that also cost a lot to maintain. No country is going to start war. Ukraine war was started becos of NATO provocation. Hope their president will consider this for the sake of US people.

[@sunstar1630]

Great job Lena. The succinct explanation by Prof Wolff unravels the corruption that has become the norm in the US.

[@jtkw]

What Dr. Wolff neglected to mention is that Americans mostly can't buy Chinese cars because foreign cars require government issued certificates, and US has refused to issue such for Chinese cars. About 10,000 Chinese cars are sold in the US, most just for collectors, car enthusiasts, etc. So, the 100% tariff on Chinese cars are red herring. It bears no impact on the US consumer as is. But with this tariff, the US government can now pressure EU to do the same - and LOTS of Chinese cars are sold in EU. So, this tariff is entirely geopolitical.

[@judyrayford656]

fear and guilt is stopping a lot of people from accepting reality as it is not programed

[@MargaritaMagdalena]

More like arrogance and self-satisfaction.

[@yaelz6043]

The funny thing about western programming and propaganda is that even if you know it's happening you still repeat it.

[@user-lw7sd9up3u]

The Media could help.

[@shuidifengliu]

Western Propaganda Media has done a wonderful job keeping people ignorant and happy

[@Bia82Bia]

Hi Lena excellent channel ❤ God bless this man for telling the truth, America as a whole needs people like you to really understand reality and what's going on with the World today. 😊

[@aneurindavies5943]

The English Empire collapsed after the 1920s from Debt, the Empire of US America is seriously in Debt in 2024 - what could possibly go wrong?

[@krikorbabikian4769]

Hi Lena. I live in NJ, and if I want to go to Manhattan it costs almost 20 dollars, and if I want to go to jfk airport you can double the amount. I don't understand how come the government sends billions of dollars to other countries and I have to pay all that tolls.And now they have congestion toll in nyc. God save us

[@urbanreuss459]

Best guest, fantastic interview👍

[@thespacecowboy420]

Always good to see Wolff

[@pheonix-one]

It’s interesting hearing the point of tax avoidance and sanctions. Thanks for inviting Richard onto the channel.

[@VeleroMedia4952]

GOD Bless Prof. Richard. D. Wolff

[@elianamckee]

My favorite Professor! Thank you, Lena!

[@DrMatey215]

A totally great presentation. Thank you both 🤸🤸🤸🤸🤸🤸🤸🤸🤸🤺🤺🤺🤺🤺🤺🤺✨✨✨✨✨✨🙂🙂🙂🙂🙂

[@Arcy0429]

Professor Richard Wolff, as always, brilliant! 👍👏

[@johnrushka4275]

Excellent! This is an amazing video. LENA HAS HIT A GRAND SLAM 🎉

[@michaelthompson1379]

Thank you for sharing!

[@alrent2992]

China controls 72% of lithium refining capacity. China produces 40% of all tesla batteries. China has the best battery technology.

[@engineersze2546]

What a great Professor. We should have a worldwide one person one vote for the greatest professor of this period. Your thoughts??

[@cb250nighthawk3]

The last bit about democratising the enterprises and corporations : that huge corporation, Huawei, is owned by the employees, who are the stakeholders. The employees work for themselves, basically. 🎉

[@cb250nighthawk3]

@@robyenney951 Yes.

[@michaelg.2387]

Great guests lately. Glenn Diesen and now Richard Wolff. Thank you, Lena.

[@sigolwidearemo8575]

Thanks Dr. Wolff for teaching economic truth.

[@dandurban9123]

Dr Wolff is Always a master at simplifying complex economics problems for us, the lay public, Thanks Professor!

[@adrianmorris5546]

Profesor Richard Wolff and Lena Petrova I am always so grateful for your brilliant analysis of the whole situation keep up your amazing work ❤❤❤❤

[@pedrovision6987]

One of the most incredible interview/presentations I have ever seen. We live in a VERY incredible time.

[@misumzimoyi7262]

Thanks for bringing Prof. Richard Wolff, his my all time favorite...

[@user-xg5uf9sn8w]

Wow, what a crystal clear and clearly enlightening program both overall and in detail. Its design also generated hope and faith in the future in a grim time. Thank you Lena and thank you Prof. Wolff! Greetings from Sweden.

[@PVLTD]

If you are going to make a product cheaper and better than what we can produce locally, then this is called “unfair trade practice”. Hence, you are “overcapacity” and your products will be subject to higher tariffs and sanctions.

[@jamesdixon2857]

Great news, soon the world will be a safer place for all mankind

[@rdallas81]

Not

[@dokidokidango1896]

Please have Richard Wolff on more often, he is the GOAT

[@dwaynehudspeth2073]

What has that got to do with the topic?

[@dokidokidango1896]

@@dwaynehudspeth2073 Its not that hard, think a little more

[@KennyL1]

Prof. Wolff was describing a situation in America equivalent to the time that led to the French Revolution. That's where America is heading.

[@jeffreywoodson6754]

You are a gracious host. Great show. Thank you Professor Wolf.

[@taiwanstillisntacountry]

2 smart people. Thank you.

[@rdallas81]

Two fart steeple?

[@greenetolstoy]

One of the best explanations of economy, tariffs, sanctions and the future of capitalism. Bravo Prof, bravo Lena!

[@marianestrella5246]

Never really understood d wars US got into but Ukraine opened my eyes of US hegemony. Thank u Lena and Prof. Wolff for enlarging my understanding of the current state of d world.

[@dugalug1795]

Excellent, thought-provoking program. Thank you Lena for inviting Prof Wolff on. He has the ability to explain difficult problems & economic issues in easy-to-understand everyday language.

[@paulhuval]

We could save billions of dollars if we get rid of most of the alphabet agencies and institute a flat tax for everyone and get rid of the irs first. Not sure if I am right but that would be what I would do.

[@tedlahm5740]

Professor NOT INTERESTED in a flat tax.

[@tedlahm5740]

Obama and Biden BELIEVE putting people on the Public Payroll is actually creating employment. comment please