Richard Wolff on the Implications of China Owning 800 Billion in US Debt

[@whodefan]

The reason China has 800B in US debt is because they are vendor-financing the US consumer. They export goods made in China to the US and the US has nothing to export back to balance the trade so US dollars flow out of the US and into China. They send those dollars back to the US by purchasing US debt which earns them interest. That has a two-fold effect. It keeps interest rates low for the US due to the demand. Secondly, it gives the US fresh money to finance their government spending. So who's really at fault here? It's not China. We are hanging ourselves; they're just supplying the rope.

[@noble6392]

Great summary!

[@jurisgirl4479]

Well said.

[@Jandelagradina]

That Staline quote ending your resume is gold Or was It Gorbatchev ?

[@Tolderian]

They make good quality rope tho

[@jray5894]

No, you said it yourself, they make debt cheap. Why wouldn't the US take advantage of almost free money? The Chinese are getting a low return on an increasingly riskier investment, on the other hand.

[@yas8109]

I am an American and was already aware we were in debt to China. Glad this was educational to many. This is the consequences of poor money management.

[@anaksendeng313]

China and Rothchild.

[@Pidgeys]

I think it's pathetic it's educational to many. Many other things they don't know either.

[@sharonschaeffer4456]

It is a result of electing idiots to run this country!!!

[@stys8736]

Ya, NOT a consequence of capitalism. Add in corruption via money laundering via situations like Ukrane

[@NoToBigBro]

You have absolutely no idea what you are talking about. US owes more debt to Japan. US owes almost as much debt to UK, and so on. This guy used China (racism) to make dumb people think that there is something seriously wrong. "beneath all the @#$%, the reality is the opposite." Notice how he never said what it is and what it's opposite of????? Because he has no point. Wake up dummy.

[@danieltheal]

Thats right. If you borrow money practically anywhere you are expected to pay it back.

[@paconfidential6435]

This guy is giving the penguin

[@rossmackay-williams4583]

lol!!! unless you are Africa in Chinas eye's. Yes China has given billions to Africa and they are interest free loans and with some loans they have just given them billion....so If you think Africa will fight for us you have another thing coming....when western banks did what they did to Africa

[@AlignWithJesus]

What’s crazy is $800 billion is only roughly 2% of the U.S.’ $36 TRILLION debt

[@jamforall]

$800 billion is approximately 2.22% of $36 trillion, not 2%. While the 2% claim is close, it's not entirely accurate.

[@thereal4114]

​@@jamforallHe said 'roughly'. He's correct.

[@VertigoX26]

@@jamforall You must be a hoot at parties. :eyeroll:

[@opetimistic]

​@@VertigoX26😅

[@Astqh]

@@jamforall roughly? roughly? roughly? roughply? roughly? Roughly - adv. approximately.

[@tatelindley9005]

$800 billion is about 2.29% of our national debt. We paid $658 billion in interest for 2023; 2.29% of that is $15.07 billion. China spent $224 billion on defense in 2023; we paid about 6.7% of their budget. Which is all a moot point, because OUR defense spending was $820 BILLION, more than 3.5 TIMES that of China's

[@trumperguy55]

Finally I find a comment that is spot on. Everyone else just blindly believes this anti-Capitalist boob that's brainwashing students. Well done @tatelindley9005

[@TerrenceThorn]

Yes, during the "Cold War" we outspent Russia too. China watched, learned and we will "find out". - Read the labels on what you buy, if it isn't too much trouble.

[@tatelindley9005]

@@TerrenceThorn we won the Cold War, though, and there's nothing anyone but the Chinese people can do about Chinese labor being cheaper than American

[@LordBLB]

@@TerrenceThorn If history has taught us anything, it's that you should never underestimate the manufacturing capability of the USA. We didn't manufacture much before WW2 either...

[@albertoc5882]

the secret to freedom lies in educating people, whereas the secret to tyranny is keeping them ignorant.

[@johnlightbody9942]

THEREFORE, USA IS NOT A FREE COUNTRY

[@stewartgoodwin9488]

Old people start wars and young people fight wars.

[@gregorybennymadho6325]

Because they brainwashed the youth in believing they are fighting for their country when in truth and fact they are not, they are just pawns in a system based on.

[@lewisfirth6502]

A truer word never been said

[@IndianCrusader-k4v]

- FDR

[@MichaelPalmer-j5t]

Ja exactly

[@Corpse4419]

年輕人不應參與打仗

[@unoworld9126]

US total debt is $ 36 trillion. Total foreign debt is over $ 7.9 trillion. Five countries owning the most of US debt are Japan ($1.1 trillion), China($749.0 billion),UK (690.2 billion), Luxembourg ($373.5 billion), and Canada ($328.7 billion)

[@TheZaxx]

This has nothing to do with capitalism, and everything to do with poor money management.

[@franekspeak953]

Exactly that! For decades the amount of debt was reasonable with deficits for special needs as wars and surpluses in the peace time. Only recently we started borrowing like crazy each year for all stupid shortcomings. This has nothing to do with capitalism.

[@sheilacollares5307]

US, in reality they fund israhell.

[@masterxious6419]

When goods stop crossing borders....Soldiers do.

[@122987william]

This is exactly right... 💯

[@JohnCrowley-n4o]

Why does this guy say it like it's a big secret.Everyone I know has known this for years and years and years. It's those who choose to stick Their heads in the sand who don't know It.

[@staissitrading6675]

Afghanistan invasion alone costs US taxpayers 2 TRILLIONS DOLLARS.

[@jingiskahn3466]

No, it doesn’t cost the taxpayer anything. The money is created out of nothing. Where do you think the money comes from for the additional debt the U.S. takes on each year? Before it can circulate in the economy, the money has to be created by the state. If God isn’t the creator of money, then it has to be the state.

[@e.r.6147]

@@jingiskahn3466every time they print money it costs you. Silly willy THINK !!!

[@freshfritz4649]

Yea, but a good portion of that went to U.S. private contractors, so not ALL Americans were left holding the bag.

[@amunofthebes9557]

thank you biden for finally getting us out

[@badmattam]

@@amunofthebes955713 soldiers were killed because of piss poor planning of the overly hasty withdrawal. And then, insult to injury, he gifted the enemy 80 billion dollars worth of military equipment….Bumbling Biden’s exit was a catastrophe.

[@robertluis1934]

Yes, but no one told them to borrow money to be able to have today, which you could only have years later. The greed of the United States of America is what will bring about its own ruin.

[@chinesesteel2713]

China still had to buy bonds to buy petrodollar.

[@martacasablanca6801]

I wonder what country is over all better off than the US? Canada? Europe is pretty good too. But over all? I’m not making fun, I’m sincerely curious.

[@Chicag343]

But great china secure food and roof over one billions people's unlike the USA 30 percent of the pupolition live in poverty that's huge difference between the USA and great China ​@chinesesteel2713

[@sowelly2808]

@@martacasablanca6801 Watch Ray Dalio’s “The Changing World Order”. He walks through how empires rise and fall. Provides valuable insight into the pitfalls that the US has and will likely continue to fall into.

[@tj493dowl32]

@@martacasablanca6801I think everyone has fucked each other up. I wish every country was like how Japan was for centuries, isolationist, self sufficient. You can’t help others if you can’t help yourself

[@ashowntw]

US politicians don't talk about how this cycle benefits Americans. If this has only negative side to Americans, they can stop selling bonds anytime.

[@JustinThyme007]

And of course, the US could stop importing all Chynese products at any time...... Right? 🤡

[@Charles-q4o]

What happens if we do that. And they dumped it? Dollar bill for ass wipes . We haven't won war since 45 now we're losing money wars because of greed.

[@leviashanken7281]

How does it benefit Americans, please?

[@l.w.paradis2108]

​@leviashanken7281 I guess spending more than we've earned is a good thing.

[@ashowntw]

@@leviashanken7281 FED prints each piece of USD100 at the cost of like 0.001 dollars and by buying the bonds issued by the American government it puts the money in the financial system for Americans to use it. Then Americans use the money to buy staff that are imported from low-laber-income developing countries at low price, by which Americans can avoid high inflation rate and enjoy more with lower cost. The developing countries suffer from low income and high environment pollution, to make real products to exchange the money printed by the Americans at nearly no cost. Americans exchange real stuff by printing pieces of paper and issuing bonds, isn't it the positive side? If they were not greedy, the system could work and benefit them forever.

[@faiwong3560]

If you don't borrow You don't need to pay interest Common sense

[@Kloiterra]

If you don't borrow no need to pay interest this is common sense. now it's a haiku.

[@comedybroski]

@@Kloiterra we appreciate you for this

[@keithOb]

We give everyone $ But we owe trillions I don't get it

[@watchman835]

Even when you borrow you still don’t have to pay, as long as you have the second amendment. US has second amendment and China doesn’t , easy.😊

[@alistarmanley607]

Yes that's the reason for borrowing because they don't have the whole world is runs on borrowed money

[@lwood9210]

That is not the reality of capitalism. That is the reality of a government that is not fiscally responsible.

[@ramonalejandrosuare]

Its the reality of capitalism - the reason why we have to borrow is because we offshored our industrial production offshore to China where profits were greater.

[@thebluesrockers]

America owns & controls over 190 Nations. been at war more than any other country over the past 100 years. The winners of war don't go broke people. War is profitable and that's how you steal land & resources. Oh and if we're not at war, we loan billions of dollars away to a country that can't afford to pay us back. Why? to raise tax on the American people & take the land & resources from the borrower. But most people have no clue of this.

[@lwood9210]

@@ramonalejandrosuare That has nothing to do with capitalism. That is a fallacy. We borrow money because we spend to much not because we don't have enough. Our government takes in nearly twice as much money in tax revenue than the next closest country. It is a spending problem and that has zero to do with capitalism or where goods are made or anything else.

[@nickyawguitar]

your commie ass got bodied 😂

[@fruktkusene8466]

@@ramonalejandrosuare this has nothing to do with capitalism, its the reality of government's defecit spending. A problem with big government, which would be even bigger under socialism or whatever twisted system you'd advocate for as an anti-capitalist.

[@sauronthegreat5799]

USA has an obligation to pay the interest on its debt. What China does with the money is China’s prerogative. USA has no say in it.

[@MrSosa1969]

That’s not the point . It’s having debt that you have to pay China who’s your adversary in the first place .

[@arwenk6511]

@@MrSosa1969 So why would American borrow money from China if China is an adversary?

[@PedroOrtiz-u8w]

We need to pay in full its a National Security Emergency

[@PedroOrtiz-u8w]

​@MrSosa1969 exactly Who the flying flowers constructed this financial deal this is corruption at the fullest

[@udopiarecords]

No shit bruh

[@squirrel3200]

I've been screaming this for 20 years

[@themog4911]

Why?

[@terrytang9946]

Analysis of the Statement This statement contains some accurate points but also oversimplifies certain aspects of how international debt works. Here’s a breakdown: China’s Holdings of U.S. Debt: It’s true that China holds a substantial amount of U.S. debt, but this amount has been declining in recent years as China diversifies its foreign reserves. As of recent data, China holds about $800 billion, but it’s no longer the largest foreign holder of U.S. debt (Japan now holds more). Interest Payments: The U.S. government indeed pays interest to holders of its debt, including China. This interest is part of the national budget. However, interest payments on U.S. debt are not funded by specific taxes but are instead paid out of the federal budget, which consists of various revenue sources. Use of U.S. Debt Payments: The statement suggests that the funds go directly to the Chinese government for military development. In reality, China’s central bank holds U.S. debt as part of its foreign exchange reserves, which provides stability for the Chinese yuan. The interest received on this debt contributes to China’s reserves but does not directly fund specific sectors, like the military. Transparency and Public Knowledge: While the statement implies that Americans are unaware of these debt dynamics, U.S. Treasury debt is publicly tracked, and the holders are regularly disclosed. “Reality of the Economics of Capitalism”: This view is one interpretation, suggesting that global debt reliance might obscure economic dependency among nations. However, in reality, this system is an established feature of global capitalism where countries hold each other's debt as a way to maintain economic stability and foster cooperation.

[@MariaGarcia-gj5ie]

Thank you for that information.

[@barbarabellows9138]

It may be over simplistic, but then you forget we are Americans and stupid!

[@mystanky]

Thank you for explaining this hopefully more people see this comment

[@Ivette_ba]

You are right. Statement 5 is clue. All this is public. Problem is USA american citizens don't care anymore about their own participation in the problem. In the meanwhile EVERY single present we are going to deliver in Christmas is MADE IN CHINA!!!!

[@pwilliam255]

Now do Japan. They own more of our debt than China.

[@hitenparmar6351]

The famous word.. " WE HAVE NO ONE ELSE TO BLAME .. BUT OURSELVES"

[@operacarmen]

Stop repeating the lie .. Its not china .. it's the ✡️🇮🇱

[@microfarming8583]

This guy is a sensationalist. By far the larger holder of US debt is the Federal Reserve itself. 800 billion of China's debt is peanuts in the scheme of the US total GDP.

[@prettyorangesea]

don't borrow money from the world

[@sciencedontliebutscientist7083]

What’s worse is how much money we sent to other countries especially Israel, billions and billions of dollars. While American suffer.

[@renaldfranley2258]

If you don't know or understand jews and zionists are the real leaders of the usa, that's why the billions go to isreal en usa fights Israëls wars.

[@joshlowman9540]

And Ukraine

[@beardedopinions336]

Israel I'm cool with, ukraine I am not

[@RoderickHunt-j7w]

24.5 billion p.a. l believe

[@sciencedontliebutscientist7083]

@@beardedopinions336 Israel is worst

[@anthonycalhoun5832]

Good stuff keep it going 💯% 👍

[@ChainDragGONE]

Another example was the bank bail outs in 2008. Trillions of dollars were given to some of the most corrupt financial institutions in America. We all have been affected as a result of these decisions even in 2024.

[@grahamjones7371]

Yes in my country incompetent national banks gambled on derivatives they knew nothing about ended up to be useless US mortgages Ive never seen politicians show such fear and panic , i think Obama handled it well but we will be paying for it for a long time

[@saxappeal74]

Not true. Banks and the auto industry repaid the bailout money.

[@johnsamson9680]

I wonder how many sex trafficking operations were created using those funds 😅

[@94wasajam]

And the worst part is i don't particularly remember any of the victims of those predatory mortgages or loans getting bailed out or forgiven. They did bad business and instead of their business failing, like they should have in real capitalism, they got paid to try again 😂😂😂

[@claudelandi510]

Too big to fail...thanks to a Republican President(Bush Jr.) who ran a failed and Corrupt Real Estate Economy.

[@CMAN907]

We have a tax problem and a greed problem! This is absolutely insane!

[@jasonlacroix6083]

This is the best mankind can do. If it involves destroying our own economy, nation, family, etc., that's just the way it has to be.

[@grandaddyc]

The wolf of wall St and the term "greed is good" were idealized. With this upcoming deregulation of regulation you got no show of increasing money from the un or undertaxed. off shaw havens will see to that.

[@karlmorgan3678]

@@CMAN907 you have a spending and entitlement problem, you aren't taxing your way out of this hole

[@Greg-x6n2i]

we have a lie problem by people like this man.. no such thing as national debt.. and taxation does not pay for gov expenses.. we own the money. we create the money.. who do we owe??

[@grandaddyc]

@@Greg-x6n2i Old joke "I cant be broke. I still have lots of checks in my checkbook."😆

[@snowwalker9999]

When a country is in debt, it’s not the government or its banks or its big corporations that are in debt. It’s its citizens, mainly their "middle class". They are the ones who always pay the debt. They always have and they always will. That part is the system (the written codes) not the "incompetencies" of those who run the system. To fix things you first have to shift this position of vulnerability: average citizens being the primary shield. And nobody wants to do that. Nobody even ever talks about that. You don’t have to call it any "-ism" to provoke knee jerk reactions and panic in people. Fix this fundamental basic issue that should be the heart and the soul of democracy.

[@russyeatman5631]

It has to do with the Federal Reserve and that US dollars are printed by a private bank - the Federal Reserve. The two presidents, one from each party that attempted to introduce paper money issued directly by US government, backed by US government resources were both murdered while in office: Abraham Lincoln and John F. Kennedy. And both were shot in the head.

[@akal1236]

How much did Microsoft pay in taxes last year? Do you genuinely believe that the middle class finances the US? In every single developed country, the vast majority of tax comes from corporations.

[@Ghost3d9393]

we are in a representative republic not a democracy, and this problem started when the people decided to vote to pay taxes as it was promoted as taxing the rich, income taxes are unconstitutional and have been so since the beginning, it was the advent of the federal reserve that allowed the Ashkenazi Jewsish families who since the fall of the eastern roman empire at Constantinople in the 1400, kingdom hoped from and even before that 1066, started setting up banks to lend money to Christians and charge interest on that money, this happened in England then France then Germany and now the US in all the other places especially France during napoleons time they were rounded up and kicked out as their money lending practices where destroying the economy and displacing the monarchy after failing in these countries and right before the first world war they were successful in doing so here in America backed by the wealthy, before 1913 if the American govt wanted to raise money they would have to market their bonds to fund said wars, and the American people had veto power by simply not buying the bonds however now they can print out as much as they want and stick the people with the debt and the constitution doesnt even allow us the people to question the use of said money which doesnt belong to the us but to those families, so in short when America prints money they borrow from the Zionist jews, who then allow the treasury to print the money at an interest rate they the Zionist dictate, that the govt then places on the people to pay off, which is why over 80 percent of our congress have ties to new Isreal the home place of these jews that are now destroying our economy much the same as what napoleon and the other monarchs feared centuries ago, which is why we need a decentralized system so that we can control the debt and not the govt that has been compromised by Israel so its not necessarily capitalism but how its being used here in America

[@snowwalker9999]

@@akal1236 You don’t get it. What you are saying is lazy thinking counting numbers. When a multi billionaire corporation pays 10% of their profit to taxes it’ always appears way more than what a groups of citizens have paid which is over 60% of their income including all taxes on taxes inflation etc. The billionaire company is still billionaire and that 10% they paid will go back to them by the taxes the average people pay and investments etc. I don’t have time to go in dept on this. The system never hurt those who have too much. They are always immune to any recessions that they create anyway. I have nothing against having a lot or investments. But this system is a huge gatekeeper for the struggling middle class to get ahead in life. By the way it would be a good idea to do research and see how much combined all average citizens pay in taxes. I mean all taxes that they pay and see how much of it actually goes back to them. And compare.

[@chrishouston5401]

I mean, we are in a fiat currency. The only way we can generate more currency is by borrowing it from the future.

[@briananderson5102]

Didn’t the Chinese buy the bonds in the first place, thus putting $ into the US military? Just an outcome of being the world’s reference currency.

[@evil_eye-04]

Yeah, but thats not the point. The point is that despite all the hostile rhetoric there is still huge cooperation under the carpet

[@fwfeo]

Chinese don’t care how we use the money, as long as we pay interest, they’ll take it! They started dumping these assets since the US froze Russian assets. Btw, Chinese are building their military, beca the US policy is to fight the Chinese and knock them back to third world status as our free market-loving leaders rather break the competitor’s legs than compete with them fairly! 🤷‍♂️

[@katieydiddkatieydidd7269]

Yes. It's circular.

[@S1lverarrow]

yes that is loan, when you tale bank loan, bank put money in your bank account and thats a debt.

[@kevinsnowden2091]

Why did we need to sell the bonds?

[@Jorde-v4w]

China is capable of owning more but, they don't want to make it too obvious, the USA compared to China in infrastructure is lagging 50 years behind.

[@miguelangelaguilar5861]

We should hire cheap labor workers that are willing to pay 15k just to sneak into the country

[@jr2856]

In reality we lack a few billion humans producing labor is all. Numbers matter in war but weapons can even odds with stratagy.

[@newhorizons2409]

Most Americans are full of bleaghwu

[@j.p.vanbolhuis8678]

Dont overestimate chinese infrastructure. Look beyond the tourist areas

[@stevejoe448]

@@j.p.vanbolhuis8678still way better than US😂😂😂

[@kennethhager7564]

Our politicians got us here.

[@Bossman_701]

The Republicans did this 🤬

[@jasonwilliams6765]

Lol you are so uninformed. Permit me to issue and control the money of a nation, and I care not who makes its laws!" Meyer Rothchild

[@Eclipse-ss7ko]

@@Bossman_701 Obama was the one who borrowed from the Chinese in 2009 i Believe.

[@iliumboy]

And who voted for these politicians?

[@Ebobster]

Pols bought off by billionaires who due to tax breaks the billionaires don’t pay income taxes.

[@prattmorales3464]

Well said!

[@seththomas9105]

In 1980 the National Debt was around 4 Trillion for 204 years of our existance. 44 years later it's now 32 Trillion. Let that sink in. And remember we have to service that debt every year.

[@garys3010]

this is what happens when you make products no one wants or make products that are not as good as what's available in the market. it starts with the lack of investment in education and infrastructure in the 80s. Example of both, bullet trains in japan, more cars in the us

[@jussilindkvist4032]

Now look at how much of that trump was responsible for when he said he was going to pay it down.

[@AustinFord-gw6ul]

36 trillion

[@thud9797]

We didn't have $4 trillion in debt in 1980, the debt was close but just under a $ trillion in 1981 when Reagan gave his state of the union where he gave the 67-mile illustration on just how much a $ trillion actually was. A stack of $1,000 bills 4 inches high is a million dollars. For the stack of $1,000 bills to reach a trillion dollars the stack would have to be 67 miles high and look where we are today. Unbelievable with no end in sight, the interest alone on the debt now exceeds the defense budget.

[@seththomas9105]

@@thud9797 Yeah, I was just pulling the numbers up from recolection. I'd forgotten it was "only" 4 when HW Bush left office and then it crossed the Rubicon after the 2008 bailouts.

[@rad7965]

This video/information should be mandatory to all American citizens.

[@royabrown8774]

No, no,if only they knew !

[@dariosilva4566]

Thats because the Americans are stupid with money

[@joshsmith3066]

The downfall of democracy is you have to promise big to win. If you win then you have to deliver to win again. Big promises cost big money, and to beat the guy that keeps winning you have to promise even more. And so the cycle goes. Now of the 20 lowest debt countries in the world vs their GDP, the only Western nations are Russia, Bulgaria, and Estonia.

[@paranoid9419]

Seems to me that we own China. We already have the ssets from China, and we owe them paper. Fuc China they need us or we stop the money flow, what Cjina can do about it ...NOTHING

[@ampdals]

Why, it's meaningless

[@jakethemistakeRulez]

Highly recommend watching this whole video is really good. Richard wolff Amherst Mass represent!

[@kinboon3138]

Mind share the link to this whole video. Tq

[@barbsteele3301]

It is! Terrifying tho

[@adruvaify]

Where do you watch the entire video?

[@katie-hy5zi]

Link???

[@thehorde4868]

Ehh, have watched Wolff videos before not really informative unless you're a tankie

[@MrFoxfire510]

The older guy looks exhausted from it, and the younger guy looks disgusted by it. Reality sucks

[@Ali_Shakh]

Well at least China bought those bonds , US sends money to Israel for nothing, over 3b each year, and over 14b just in 2024

[@Totot-d3s]

china is not issue ,they would not admit it cause its there master i guess cause us gov isnt ruled by there people and even if you are a american as a high position in service you cant even say you should not support isnotreal bcz if you did your position is either in danger or your power as an authority will be ignored cause it hurt there master lol even as indian yeah our government is also bad cause people will do anything to get money but damn usa serves them like dogs or slaves

[@netryder558]

But the Israelis turn around and spend that money in the United States for weapons thereby hoping to maintain our economic growth

[@Ali_Shakh]

@ so if you give me $100 for free and I buy goods from you, somehow you gain from this , do I get this right?

[@Radek3887]

They use that money to buy our weapons. It's corporate welfare but at least it keeps Americans working.

[@rapidreponserod]

​@@Ali_Shakhdon't know about the math, what's important is that Palestine will never ever be

[@VLADIMIALEKSIC]

Maybe USA take Chinese money to spent on US Army and China use USA money to fund roads, schools and hospitals in China?

[@TheBelialjupit]

Finally, someone knows math. US got 800 billion lent money to build road, public spending etc while CHN got 1-4% of that annually to do the same thing? Who wins more?

[@TewaQuebec]

@@TheBelialjupit trump pisses them off then they call in the debt. Now what?

[@spokeydokey8635]

correct

[@markmason7117]

It isn’t a capitalism thing. It’s a doing business with your enemies thing.

[@mikejohnson2098]

It's our govt doing stupid things like going to war in Afghanistan for 20 years and trying to bring democracy to Iraq. Taking in millions of immigrants and paying them benefits is also a biggy. Our corrupt govt spends way too much on things we don't need.

[@papuette]

@@markmason7117 capitalism is debt. It can't work forever.

[@jacobreisser8034]

Why is China your enemy? The Chinese have never attacked America. Perhaps if less people thought like you, with no sense or logic, the world would be a bit more peaceful.

[@JohnCrowley-n4o]

@@markmason7117 it is both and more.

[@sasapopadic384]

Enemy of all is DC crew..😊😊😊

[@volcom305670]

When people say our leaders sold us out I don't think a lot of us understand how bad.

[@datsweetsansabooty]

It’s not capitalism, it’s corporatism

[@danielcano4243]

Same thing

[@RealNOPAINSNOGAINS]

Globalism

[@schagsim]

Crony capitalism

[@victorortiz1387]

A stage of capitalism Whn corporations absobs the state.

[@RussellHawkins-x2e]

And as Benito Mussolini is claimed to have stated: "Fascism should be called corporatism because it is the merger of state and corporate power."

[@hoosierhermit]

He's not describing capitalism. He's describing our corrupt government

[@vcat417]

By government you mean people ? It’s corrupt people , not some imaginary machine.

[@hoosierhermit]

@vcat417 nope. The people come and go. The government has been molded into a corrupt machine. Trump and DOGE are going to overhaul that sucker

[@sterlingspencer8218]

Government is just a facade for these corrupt corporations, their lobbyists, and phony media moguls.. including the medical Mafia which made so much profit off the killing of many American families.. I don't care what you choose to call it, at the end of the day it's still is what it is bro

[@uplus9162]

Capitalism, with it's profit incentives, selects the most greedy, short-sighted, opportunistic individuals to accrue power, by which they direct to control the government for their benefit. I am a big fan of the wealth generation and technological innovations of capitalism. I believe it's the greatest invention of mankind, but this is its most glaring flaw that we need to answer sooner or later. And it's not communism.

[@sterlingspencer8218]

​@@vcat417government is just a facade for these corporations, their dirty lobbyists, and phony media mogul's narratives.. don't forget the medical Leviathan which profitted tremendously off the killing of American families the past yrs.. at the end of the day it still is what it is no matter what you wish to call it

[@brunoonraedt3401]

Why are you comparing the US to China, China's infrastructure is huge. That infrastructure of the US is like a third world country because all the money goes to the military and the pockets of the rich

[@jesan733]

The military has fairly little funding.

[@QuarantineCody]

@@jesan733what are you crazy Between military Medicaid Medicare & SS we eclipse China and Europe

[@pauldini5121]

​@@jesan733800 billions is little funding eh 😂

[@jesan733]

@@pauldini5121 out of a GDP of 30 trillion, it's not that much. The US is a rich country, and it maintains its fairly high position in world gdp per capita ranking even if we deduct military spending. So I simply don't buy that the US' infrastructure is bad because of military spending.

[@kimbrown7406]

​@@jesan733 how can you be trillions in debt...and be considered rich? And that you are ok with China owning any of that debt is alarming.....

[@infra8466]

800 billions in US bonds is just 32 billion USD a year, which is barely enough to cover inflation

[@osirisblaster]

This has nothing to do with capitolism. This has to do with the misappropriation of federal money.

[@tehjunkfood]

Trump went 6 trillion over last time he was in office, and then says he needs to fix the spending problem, and wants to cut 2 trillion from spending. Well, all he has to do, is spend a third less then he did last time. Maybe don’t give more bailouts to billionaires and cut their taxes more? Just a thought .

[@kerry9125]

​@@tehjunkfoodThe rich pay enough in taxes, far more per dollar earned than the poor and middle class. Regardless, the issue is spending. The last Trump administration did spend a lot and increase the debt, but much of that was because of Covid; also remember that were fighting two wars then. The Biden administration spent even more, $3 trillion in excess spending, and increased the debt more. Trump's not perfect, but Biden has been a fiscal fiasco and it had to stop. That's primarily why he and Harris lost to Trump.

[@IzzoForex]

Wars we cant afford

[@tehjunkfood]

@ they pay less percent of taxes then anyone. How is that their fair share? Income tax was created to only effect the tip rich, and changed later to hit everyone . You think you’ll be rich one day, and it’s hilarious. You’re the laughing stock of the world . The rich convinced you to let them pay you Pennie’s, keep alll their money. and cheer them on for it. While the poor pay taxes to pay for other poor peoples wage supplement lol. Walmart and Amazon employees need more welfare then anyone because they’re not paid enough to survive. And you cheer them on. Nobody needs 100bn dollars. You’re insane. Actually insane

[@tehjunkfood]

@ trump spent tripple what Biden did. What world do you live in? Is it fun sucking trumps balls while he lies to you? Got you sheep are such betas for him it’s insane . Cucks for trump. You worship him. Liberals don’t worship Biden or Harris, they admit when they do something by wrong. Trump can do no wrong in your eyes. He could rape your kids and you would cheer him in and record it and call it patriotism. Sick fucks.

[@wibie4Life]

Richard Wolff is an American Marxian economist, author, and professor known for his critiques of capitalism. He specializes in economic inequality, labor issues, and alternative economic systems. Wolff earned his Ph.D. in economics from Yale University and has taught at institutions like the University of Massachusetts Amherst and The New School. He co-founded Democracy at Work, an organization promoting worker cooperatives, and has authored books like Capitalism Hits the Fan. Wolff frequently appears in media and lectures, advocating for systemic economic change and empowering workers through democratic workplace structures.

[@MrElectricBeach]

He critiques capitalism yet he profits tremendously from it. Guys a hypocrite joke

[@daves7104]

Sounds like a commie 😂😂

[@leonardorojas1781]

What a fallacious man 😑

[@DissTopia-o7p]

Brainwashed people don't like Richard Wolff because he tells it like it is and he interferes with their delusions

[@guysmart7028]

這些人就是垃圾，最愛依附權威。

[@clintob254]

This needs to be seen everyday

[@atibabba]

Why is The United States borrowing money from China when the United States can print money...can someone please educate me on this matter?

[@paddlefaster]

I think it's pretty common knowledge it's how the global economy works

[@dapper892]

It’s bs I’m old enough to remember when we had a SURPLUS. We put wars on credit cards, bailed out Wall Street, and shit tons of other spending since then.

[@josephus8193]

TRUE, TRUE, TRUE, TRUE, TRUE, TRUE 😢

[@josephus8193]

It needs to be seen EVERYDAY 😢😢😢

[@sousafamilygarden]

😢 The reason China holds $800 billion in US debt is that they are essentially supporting the US consumer. They export goods manufactured in China to the US, resulting in a trade imbalance where US dollars flow out to China. China then reinvests those dollars back into the US by purchasing debt, which earns them interest. This has two main effects: it helps keep interest rates low in the US, and it provides China with a way to finance American consumer spending. So, who is really to blame here? It’s not China; they are just supplying the means. Many Americans are allowing uninformed politicians to make decisions that undermine the country’s future. By failing to hold leaders accountable, they’re letting misguided policies take root, which ultimately threatens economic stability and the well-being of citizens. It’s frustrating to see the lack of awareness and engagement that allows this to happen.

[@sousafamilygarden]

😢 The reason China holds $800 billion in US debt is that they are essentially supporting the US consumer. They export goods manufactured in China to the US, resulting in a trade imbalance where US dollars flow out to China. China then reinvests those dollars back into the US by purchasing debt, which earns them interest. This has two main effects: it helps keep interest rates low in the US, and it provides China with a way to finance American consumer spending. So, who is really to blame here? It’s not China; they are just supplying the means. Many Americans are allowing uninformed politicians to make decisions that undermine the country’s future. By failing to hold leaders accountable, they’re letting misguided policies take root, which ultimately threatens economic stability and the well-being of citizens. It’s frustrating to see the lack of awareness and engagement that allows this to happen.

[@amerlin388]

I'm tired of the politicians running for office promising tax cuts. We run a deficit. Don't cut taxes unless it is destined to INCREASE revenue. Show us you can run a surplus and start paying down the debt.

[@joliewaller6481]

Who, last time he added 7 trillion dollars.

[@amerlin388]

@@joliewaller6481 All of them. Stop teasing us with the shiny tax cut. Balance the budget. And incidentally, Trump/Vance are the only ones talking about reducing government personnel.

[@timothyn5607]

Americans #WakeUp you're being deceived into believing lies from trump and his allies. China 🇨🇳 has always been a creditor of the United States 🇺🇸 of America. Trump used racism, sexism, and ignorance about economics against maga cultists republicans to deceive them into voting for him. Capitalism is the foundation of the United States 🇺🇸. Money 💰 has always been on borrowed time from China 🇨🇳. Americans need to stop listening to trump lies and ignorant people who work for him. Our country has never operated as a sole stajd alone nation. China's read army grows extensively from our interest fees paid on the borrowed debt owed to China 🇨🇳 Unfortunately, we live in a country where economics, regression analysis, chi-square, capitalism, isn't fully understood by its citizenship. We are going to experience trump cohorts their ignorance about tariffs, taxes, policies, and executive orders that will cripple us. Sadly, the American public doesn't read, comprehend, but will defend stupid people who lie to your face.

[@ErinDeNis]

@@joliewaller6481That’s right. His orange behind thinks his tariff plan will benefit us when the American businesses, and subsequently the American people, will incur that cost.

[@franklinmartin8103]

@@amerlin388 Cut the spending.

[@Phoenix-vg8li]

I was trying to tell people that Chinese were laying the groundwork for this in the 1990s. People looked at me like I was crazy.

[@szlagtrafi9115]

Obviously, look who looks stupid now. The Americans wanted cheap goods and that really improved US economy, so it was an opportunity that was used and, actually, it should have been used. What shouldn't have been done is to move every factory to China, allowing them to gain skills, allowing them to steal technology, allowing them to trade within WTO with no limitations when there were clear violations of WTO rules. The Chinese intended to go along that path of trachery all along, the Americans did not have the wits to see what's coming, or maybe big companies made sure that their businesses are not bothered until it was too late. The Chinese also worked towards that goal using all the means possible and necessary, like bribes, stealing, building financial dependency (eg. buying US debt). And now, Trump has to take extraordinary steps to counter these means when it is already too late. And do you know what happens? The Chinese will own this debt for a hundred years when there will be no divisions between the nations because I guess that will happen one day. And then they will be able to buy the land directly from the government or people. This is a very very long term goal. And in the meantime they will get the interest on the debt that simply has to be paid.

[@ryanatkinson2281]

I remember 90s politics being about “balancing the budget” as a way of making people think the debt was being reduced but it was just both sides moving numbers around on a piece of paper.

[@Energia-977]

Yes but you shouldn't have been wearing that hat with bunny ears attached to it. That might be why they didn't take you serious.

[@chynizara]

America spends trillions on foreign and proxy wars! China doesn’t

[@alfaguera8275]

The States have been warned before that they will use all the profits gains to go against the States again

[@bigshott9117]

800b of 35 trillion is a drop in the Bucket.

[@Arky49er-e3e]

You are CORRECT......1 Trillion = 1000 Billions. 800B = 0.8 Trillion. So, 0.8 divided by 35 (percentage) = 0.02% of the USA debt HAHAHA "drop in the bucket" is an UNDERSTATEMENT.

[@TheJonMusic]

⁠@@Arky49er-e3echeck your math pls 😢… it’s 2,3% of the debt

[@Hapikern]

@@Arky49er-e3e Your math is INCORRECT. You partialy applied the rule of three. This is the correct answer: 0.8 / 35 x 100 = 2.28% (you forgot to multiply by 100 (percent)

[@RandyAgard]

​@@Hapikerntrue. 800 billion is no joke.

[@peeledbanana311]

@@TheJonMusic thank you.

[@urbestboy]

Why not simply repay the debt?

[@emchuksy_noyez]

"Beneath all the owwwlllloooo..." Got me 😂

[@DissTopia-o7p]

Are you sure about that spelling? 🤣

[@fztheamazighiya1047]

Owwwlllloooo= Trump talking

[@drakemyers3432]

None is this is remotely a problem. China owns a large amount of U.S. debt but it isn't the United States's largest creditor. The greatest amount of U.S. debt is owned by the U.S. government. The largest foreign creditor is Japan. China owns around 2.6% of U.S. debt which it buys because the Chinese yuan is pegged to the dollar. It would be impossible for China to call in all its U.S. debt at once due to the different maturity dates of the U.S. securities that China owns. Even if it could, the U.S has such demand for it's financial products, that it could easily find other creditors to step up to cover the called debt.

[@Jakethebeard]

No one will accept this as truth, but it is indeed the truth. Demand for dollars is so high internationally and nobody seems to stop and think, why? Because the dollar is the deepest and most liquid market in the world. Period.

[@megatpanjialam612]

​@@Jakethebeard what period?? After BRICS was established, Dollar will find his ending..😂😂😂

[@joseki6644]

Ha. If the dollar exceeds its debt ceiling then all bets are off. Nobody wants a bankruptable currency.

[@sharkkusul]

It does not matter if China is not the United States's largest creditor. The United States is still paying China for using Chinese money, and still owe China the principle amount. What China uses the money for is their business. Its goes into their Treasury, and ... use it for Health services, infrastructure, education, industries R&D, and maybe to develop the Red Army too.

[@sjappiyah4071]

Bro you’re entirely missing the point , it’s not about who’s the US’s biggest creditor, it’s that money being payed to make interests are literally funding the army of a country that wants to wipe us out…. Even if it was 0.001% it would be a BIG PROBLEM! Would you take & repay a loan to a bank that funds criminals who rob your neighbourhood ?

[@JohnSmith-cf4gn]

Politicians have screwed us like forever. 🙄

[@WilhelmWien-1]

you are right

[@Greg-x6n2i]

but not in the lies like this dude here is saying. its that the whole story is a lie and you believe it. and you teach it to your kids.. the reality is we own the money and we own the creation of that money and we legislate it in our gov into our economy. who do we truly owe for spending our money????????????????????? use your mind and stop believing all thier lies.

[@FREE_WILL_DEFENDER]

Also american currency isnt the dollar bill its our destroyers, apaches, f-18s, nuclear subs ​@@Greg-x6n2i

[@bokhans]

And you guys love it, trump took China loans to pay for never ending tax breaks for the billionaires so you re hired him for four more years or maybe even more, he promised you you will never need to vote again. Oligarchs will rule you for ever!

[@digitalreject3233]

Trump will fix it.

[@njorogekamau3820]

The real question is, "Where did the borrowed money go?"

[@Tahloube]

Wars, israel, wars of israel, more wars, creating enemies, yet more wars, creating yet more enemies, support of rogue regimes, some more wars..

[@EjendraMani]

To Israel

[@DavidPerez-q2r]

Military contracts

[@keithmcbride4835]

the problem is not capitolism, but over spending by the government

[@douglaspaterson2144]

Ridiculously over spending by the defence department and their rules and regulations on what they can buy and where they can buy it from and how many to buy.

[@rememberhashem5495]

It’s not the Problem, just definitely the Cause 😅

[@adm7890]

Why would it be the cause? ​@@rememberhashem5495

[@justice4all719]

The corruption that brings the cost of everything up 1000x. This money should be used to support society, instead it goes to a handful of psychopaths.

[@grandaddyc]

Or erroneous believes. The United States can pay any debt it has because we can always print money." - Alan Greenspan, Chair of the federal reserve (1987-2006).

[@Theresa-w7f]

Excellent interview. 🌌🌠🙏🌌🙏🌌🙏🌅🛸🛸🕵️🎡

[@beme1]

Our politicians have truly sold us out!

[@jenniemiller-ruiz9708]

Looooong ago!

[@jenniemiller-ruiz9708]

We are just part of the audience! Enjoy life, and know this is so far out of our hands.

[@kathyjones274]

Wait till Trump gets into office. It's going to be much worse than this.giving the richest of Americans tax breaks hurts the average American citizens and helps the very richest.

[@trevsurfs9060]

They have sold your kids out, they are the ones who will have to pay for it!

[@guysmart7028]

出買你的是民主黨派。

[@sylviaalcalde1158]

FYI roads and highways suck all over the United States even Florida

[@blackawana]

..."especially" Florida.

[@Pixel.Dystopia]

When he says "roads or schools or hospitals" he means funding Israel and Ukraine 🤣🤣🤣

[@anthonylim5120]

And the fact that no one really cleans up the shredded tires on both sides of the shoulders of most of the hwys. Lol

[@kvasan]

USA Need good leadership ❤ person like Mr. Nelson Mandela.

[@sayurisai9633]

Now I understand how certain laws were passed without pushback.

[@ronwallace6273]

because of greed of companies we are paying taxes on Chinese aircraft carriers so they can make a bigger army than we got , we are paying for our own demise

[@jcbbb]

Obama repealed the Smith-Mundt act in 2012 allowing the government to use propaganda on it's own citizens and did it the same week as the sandy hook thing so no one noticed... hmmm... combne that with the patriot act and you would realize the us fed is about to sell your entire family to the CCP and IRAN and keep you in FEMA camps until then.... the celebs and the "elite" have underground bases and plenty of islands to go to if civil war breaks out

[@Marek-bv6lf]

The US government, I suspect, simply prints dollars and pays interest 😂

[@JoseMedina-hs1up]

Not that easy. China will buy what they need from a any country and pays with American debt

[@rezaazad]

Printing more dollars will bring down its value which America does not want

[@EmperorMaximus66]

From its inception, every dollar printed by the Fed immediately has interest owing. Central banks are pure evil.

[@trinagarza1048]

Maybe. Printing too much money is what causes inflation

[@rdswindoll]

​@trinagarza1048 printing money IS inflation. The inflation causes rising prices.

[@tedoneilclark4710]

How can the USA ever hope to pay all that back. It's impossible 😮

[@bbak22]

US will be taken as collateral. Repossessed.

[@l.b.9567]

That's when the big bombs starts to fall

[@davidtomlinson1010]

Exactly - hence there will be a great reset and the $$ will be devalued - ruining most peoples lives - it’s happened before and don’t think it won’t happen again

[@jeffzuess9149]

The projection is 49 Trillion by 2029

[@kld70]

In order to avoid default and fiscal collapse, governments either raise taxes or deflate their money. Ours appears to have decided on the latter. Might be why the wealthy have been buying up capital assets like they are going out of business. When a nation’s currency becomes worthless, their capital assets are the only way they hold wealth.

[@pangnicolas4056]

Why so many folks are so surprised with what is and has been going on?

[@Me2EyeSay]

I don’t subscribe to his overall economic views BUT he is extremely intelligible and right on about the economic ills that plagues our US economy.

[@georgewilkie3580]

I don't trust this oddball. What the hell is he going to replace capitalism with...communism?

[@jael4132]

are you serious? you think hes a genius? yall mustve forgot democrats kept sending money to other countries. we didnt get this debt with capitalism. its because corrupt officials kept making those fake aids and took if not all most of the money. its just common sense! just ask yourself why democrats kept sending money to other countries if we have this huge debt. it doesnt make sense

[@jael4132]

​​@@georgewilkie3580exactly he is spreading false info. trump must send these people including news chanel spreading fake news to jail

[@sonjafritsch8804]

@@georgewilkie3580socialism is good for all people. There is a difference between socialism and dictatorship

[@jennybrooks9027]

@@georgewilkie3580uhhhh, No…that’s the blue team…

[@daniellaster4899]

Man, 800 billion really ain’t that much when looking at a debt of over 20 trillion

[@ariplatt8192]

What???? The 800 billion borrowed pays for much of what the government does. Paying interest is no fun, but raising taxes also is no fun. The issue is how much is it reasonable to borrow or raise taxes.

[@SheilaSullivan-i9j]

Janet Yellen……oh, no problem..we just raise taxes..hurrr. 😢

[@BenSon-t2d]

A stunning insight for me , I don’t get this meaning until today , great lift my minds 👍👍

[@Mike-ys4sr2023]

Prof. Saying Chinese develop their Red Army . US spends 1 trillion yearly on 800 military bases but he US American so has to put say negative about Russia and China.

[@MuckyMath]

what?

[@gaborszegedy1673]

@@MuckyMath What?

[@boggysplowdee3131]

Hey Ivan

[@bebechalini9653]

The point is you Knuckleheads is that we're sending a lot of money over to China which they use for nefarious purposes

[@Cuck_life]

Yeah cuz theres a lot of fuc*ed up stuff that china and russia do. Dont be so naive man.

[@majorhalim9578]

thank you for educating me,

[@cheriehallmano6187]

This is what I will never vote again

[@johnmccarthy7195]

Are you telling me that you were not aware of that and it took this individual to inform you.

[@Colt45.]

That is just the interest on the debt. The debt is $35,000,000,000,000. Let that sink in. 35 trillion. We should not be in debt at all. The debt goes up every year because of corruption and greed and stupidity in our government.

[@micnorton9487]

True but you forgot to put the most relevant part of the 35 trillion dollar national debt stat,, which is that another few trillion dollars get added on EVERY YEAR to maintain the fantastic profit margins of the upper one percent,, who's profits in JUST folding green are estimated to be about 90 trillion dollars... So the more the debt goes up, the more the holdings of the top 1% get EVERY SINGLE YEAR... so,, it's not hard to figure out why both the neocons and the neoliberals want so bad to crack that 6 million square miles of Russian resources,, to either break Russia up into five or six stooge countries that are more militarily and economically manageable, OR to con Russian oligarchs into forking over their energy sector to Wall Street to Wall Street can run the table on energy into Europe into forever,, AND ALSO to scam in to the gigantic transfers of vital minerals in to China and other places, these two measures alone would rake in about 600 trillion dollars in commodity futures which would be enough to pay off America's debt to all creditors as well as plunk themselves into such fantastically wealthy positions that their families won't be able to spend the proceeds in a million lifetimes... Although of course, if that happened at the last thing that the Wall Street hogjobs would do is pay off the debt,, rather they would just make themselves even more psychotically wealthy...

[@micnorton9487]

True but you forgot to put the most relevant part of the 35 trillion dollar national debt stat,, which is that another few trillion dollars get added on EVERY YEAR to maintain the fantastic profit margins of the upper one percent,, who's profits in JUST folding green are estimated to be about 90 trillion dollars... So the more the debt goes up, the more the holdings of the top 1% get EVERY SINGLE YEAR... so,, it's not hard to figure out why both the neocons and the neoliberals want so bad to crack that 6 million square miles of Russian resources,, to either break Russia up into five or six stooge countries that are more militarily and economically manageable, OR to con Russian oligarchs into forking over their energy sector to Wall Street to Wall Street can run the table on energy into Europe into forever,, AND ALSO to scam in to the gigantic transfers of vital minerals in to China and other places, these two measures alone would rake in about 600 trillion dollars in commodity futures which would be enough to pay off America's debt to all creditors as well as plunk themselves into such fantastically wealthy positions that their families won't be able to spend the proceeds in a million lifetimes... Although of course, if that happened at the last thing that the Wall Street hogjobs would do is pay off the debt,, rather they would just make themselves even more psychotically wealthy...

[@dolliscrawford280]

It starts with the voter.

[@Marcosrivera101]

Poor people think debt is a bad thing 🤣

[@VladimirMomperousse-e3c]

We would want some debt to keep our money circulating around the world.

[@collineare]

How much AID have we sent to other countries since we've had debt?

[@tedalopogianis5155]

That rabbit hole goes much, much deeper than that.

B I N G O !!!

[@davidzimmerman5359]

Like AT LEAST 100 times deeper

[@mikelane9918]

Yeah we owe 34 trillion to the federal Reserve which is owned by the jewelry people

[@kalims2775]

Yup still sending billions of dollars to Israel. Tho that money goes to AIPAC which fills the pockets of politicians in white House.

[@Aslapfromthefuture]

Send it to Israel that’s the motto

[@mavareth]

Alexander Hamilton who was the one who set up the national debt (debt that the states amassed during the revolutionary war) said that it was fine for the country to have a national debt just so long that it is not excessive; but today it is excessive

[@DanielDevany]

The bad thing about Hamilton is that he was an agent of The Rothshilds

[@nightshadow73]

You should look at China's and Greece's debt levels. It makes our look normal in comparison. China's debt levels are so high that you could compile all other G7 nations debt together and not touch it.

[@vincentantonielli]

Even as a grade schooler many, many years ago, I viewed Aaron Burr as one of the great unsung American heros.

[@executivedirector7467]

Not exactly what he said.

[@Greg-x6n2i]

all of you swallow this lie??? use your mind and make a study of it. look at your money. who's name is on it. is it chinas?? nooooo.. is it the United States of America who has their name and presidents faces on it. is it America's seriel numbers? is this money gold or paper?? so not based in gold? not based in GDP? its paper cloth we create.. so we own the money. we own the creation of that money. we legislate it into existence.. so who do we really have to borrow from to create and use our money?? who? who? Please start using your mind and stop believing their fairy tales.

[@veronicavelasquez8978]

OMG! That's very painful to know this! God Bless America!!! ❤🙏❤️

[@aimino55]

God is for everyone not only for america

[@suzpeters6]

😊Trump don't like to pay debts, so maybe he will let China take Taiwan as a deal.

[@Slowhand871]

First there is no god and second let’s assume there is . Why would your god bless America? Because they allow gun violence to be the #1 cause of death of children under 18 but are too cowardly to do anything about it? Maybe your god likes that.

[@JesseTiede]

Welcome to the red pill takers society...

[@ellenbainprior4682]

Why would he? US is enabling genocide.

[@BenD88343]

Small price to pay for democracy and the endless freedoms we have.

[@omarali4265]

Thanks, professor 🐺 Wolff

[@MichaelWilliams-zm3rq]

That has nothing to do with Capitalism and everything to do with corruption

[@israelohi7887]

It has a lot to do with capitalism

[@jussilindkvist4032]

This has everything to do with the top one percent not paying their taxes. We don’t need to borrow money from other states if we are paying for ourselves. Tax the rich.

[@WordSalad-f1e]

Exactly!!

[@WordSalad-f1e]

@@israelohi7887 It has NOTHING to do with Capitalism. Pull you head out.

[@WordSalad-f1e]

@@jussilindkvist4032 The top one percent pay more taxes than you do collecting welfare. Get a job, Child.

[@同春邓]

I want to know where the US government spends its money? Buying expensive weapons that cost more than their actual value? Where does the embezzled money go?

[@Jkobe2345]

Pockets of elites through various channels

[@DeathCultSlayer]

Check average Chinese earning compared to US earning to get your answer. 😂

[@jasminamelink822]

@@DeathCultSlayer you need to compere their costs of living and your costs of living and then compere earnings….

[@DeathCultSlayer]

@@jasminamelink822 what CLIN got to do with buying weapons?

[@TheSpecialJ11]

The same thing happens with the wealthy of this country. Huge corporations and billionaires own treasury bonds: e.g., we pay taxes to the government who then pays interest to them.

[@carlfrye1566]

Well, borrowed money for HARRIS/BIDEN ILLEGALS adds up fast, and $$$$ for their 2 WARS adds up faster. Trump: Stopped illegals and 4 YEARS OF PEACE....no $ for war.

[@jjgregory4844]

Do you realize that if all the wealthy people and corporations that you’re condemning were Chinese or owned by China or some other foreign entity and not by other Americans that followed our laws, we would no doubt be slaves or definitely not living with the freedom and liberty that we do. Stop being jealous and get busy becoming wealthy if that is what you seek. While you STILL CAN. There are no guarantees of tomorrow.

[@kld70]

Yes and those same people lobby Congress to make sure spending gets passed that the majority of Americans don’t want. They benefit from the spending then stick the taxpayer with the credit card payment. It’s very lucrative for them. Lots of yachts and vacation homes for them.

[@Lobered]

@@kld70can you name one bill that the vast majority of Americans didn’t want that got passed

[@kld70]

@@Lobered Informed voters did not want the 2017 Tax Cuts and Jobs Act. This bill created no jobs and the tax cuts enacted were only permanent for corporations. The ‘tax cuts’ on individual were phased out and individual income tax rates are now higher than they were before this bill’s passage. It was a very sneaky way to get the American people to agree to tax cuts for everyone, only to have the ones that affect the majority of Americans be loaded to increase at the back-end, causing Americans to mistakenly blame the next administration for raising their taxes. A short-term bribe to get elected and now we, the American public, are paying for it with an ever-increasing deficit. Those cut taxes have to be made up somewhere, so once again they are put on the national credit card causing even more taxpayer revenue to be wasted on interest payments. How much less interest would we be paying on that debt if those corporate tax subsidies (that we could not afford) had not been given out and instead the rightfully due taxes of those corporations had been paid? They’ve had record-breaking profits for years. They did not need or deserve that handout.

[@David-io9lp]

👏 This man just explained finance: You borrow money, and pay interest! On a more serious note, the United States is not paying interest only to Beijing. It doesn't really matter what China uses the money to do. If every country in the world adopted the logic of this man, none would borrow. And they'd be worse off for it.

[@jeromehaymaker5071]

He doesn't explain how the money owed is devalued to reduce its harm to our country. We just start up a new currency to replace the worthless present currency and then devalue that, so we never really pay it back. It's just a game we made up, so we could win against commies like Wolf that are second rate social influences working for China and other Communist regimes.

[@bradmyers4991]

Sadly, only 800B! The cost of living beyond our income. Very costly

[@enhancedutility266]

Actually was more than that they used to own about 1.2 trillion but they've been trimming it the last few year's It's actually Japan who's the number one owner of US treasuries by dollar amount

[@unciuncia420]

Not really. It's a symptom the tax cuts in the 80's. Those golden economic times that MAGA cries out for, know what those top tax rates were then? 70-90%. And Along came Reagan who cut that to 50% (1981), the sceond in 1986, cut it from 50% to 38.5, with additional provisions of the bill that slowly lowered it to 28% (1986). They were gradually raised to 39.6%, but Trump cut them to 37% (2017). That cut to 37% doesn't expire. The 0.4% cut the lowest percentile saw does expire.

[@azbvcy]

Conversely, there were $800 billion USD that the Chinese did not use to fund the Red Army but rather went to Washington to buy US treasuries. Those $800 billion USD were used to fund not the Red Army but the US military. As always, best look at the broader picture

[@vaughnmiller4371]

Not to mention how our infrastructure is forsaken and crumbling.

[@e.r.6147]

Thats the cheery on top truth

[@rogbrogb7537]

A TRILLION a year for the MIC and bloody, bogus wars, while Americans “live” on the streets! BOTH PARTIES like this capitalist system. Please search Einstein’s 8 page “Why Socialism “, not hard reading! Then help build the Green Party to replace this SYSTEM.

[@edwingross9778]

Our infrastructure is crumbling because of all our politicians only in Washington to fatten their own wallets because its you the citizens of the USA that helping to enrich these same Senators and Congressman.

[@jussilindkvist4032]

Maybe trump should have had more "infrastructure weeks?"

[@Aulder]

Lol The Government set aside a trillion two years ago to fix your roads. most of it went to corruption.

[@thunderball11111]

Someone remind me, what's the US's national debt? I remember it being a lot more than 800 billion which would really make this seem less substantive.

[@ZecZli]

Yes, good point. It's 34 trillion US dollars by now. 34 times bigger than this. 🤐 Plus, this is only the US Government's debt. All that debt is unpayable by definition.

[@kumargudashi]

​@@ZecZli2.5 trillion interest pay every year.. Which more then diffence cost of US..

[@e.r.6147]

Less substantial but still an important point….

[@e.r.6147]

Less substantial but still an important point….

[@jjgregory4844]

@@ZecZli who do you think pays the US Governments debts? TAXPAYERS Other than the sale of t bills and some weaponry the government has no real means of producing income.

[@wijilsatriyo]

Please enlighten me if I am wrong, as Indonesians, are we listening to the fact that the US Government borrowed the money for the State Budget from China and other countries or from rich people, and the money was used to fund weapons aid to Ukraine and Israel? By doing so, is only a little money allocated to build schools, bridges, roads or hospitals in the US itself? I think it's awful, if all American tax payers need to pay the interest and all of the debt for founding weapons to another country for war, instead of build their infrastructure or reduce the price of medicine or hospital treatment in their own country.

[@subharmoniccicada612]

Watch this video until the end: ° THE PHILIPPINE GOLD SCANDAL POSSESSION AT THE WORLD BANK/ Ancient Magostribe ✨

[@krwd]

congratulations you just voted for Trump this is what he has been saying this for years

[@anthonystewart3679]

@@krwdthe only problem is Trump cut taxes and then increased spending which exploded the deficit. Even when you account for and remove Covid spending the deficit increased about 4.6T.

[@Auss1e]

The clip is misleading. Taxes don't pay for anything in modern economies. Taxes reduce inflation by reducing the money supply, tax money is destroyed. When governments spend money they print money. Look up modern monetary theory.

[@helplesslyhoping6965]

$800B to China, but it's topped by Japan, which holds approximately $2T of US securities.

[@tsmuthu200]

If a powerful man borrows money from someone , will he repay the money or punch the face of the guy asking back money?

[@ohridresen]

Facts!

[@sustainablerenewableintegr8311]

Do it then... Everyone dares you

[@soufyanhaqiqi]

in your analogy you forgot to mention that the other person is also powerful...

[@tsmuthu200]

@I am not sure if the other person is as strong as Powerful man.. but you have a point

[@tomdavey7628]

Consider that China now has a powerful military. It has 2 million active military personnel and the US has 1.3 million. China is now highly skilled at manufacturing while US Manufacturing has been gutted. I am a manufacturing expert in my late 50's. I have spent a portion of my career teaching the Chinese how to manufacture high tech products as part of my exit package for plant closings. Youth in the USA have very little interest or knowledge of manufacturing and a large percentage of them are either obese and/or have significant mental health issues. Do you still think the US is all that powerful?? The US implemented economic sanctions on Russia when it invaded Ukraine. Those sanctions have done very little to adversely impact Russia's economy. In fact, Russia has recently experienced more economic growth than the US.

[@RenataCantore]

Thank you for The Truth 🇺🇸

[@bunnyhill2024]

Then why borrow?

[@Skippy-r4n]

Thank you for sharing your knowledge

[@Rose-jz6ix]

It is like this with Australia as well. The figures may differ, the dependence is the same.😢

[@javienelmar]

It's insane how break the US is, I mean I can't understand how it just doesn't collapse with that enormous national debt.

[@turbomunch]

Last time they had unpayable debt they blew up their finance centre and called it a terrorism attack

[@Sharibaby80]

Idiot.

[@forevershampoo]

Yea, they aint paying china anymore then they want.

[@WinterBornActual]

More baseless, juvenile conspiracy theory nonsense. Countless holes in the puerile silliness and zero evidence.

[@tromsmail]

Really

[@gregbooth5853]

Nice. Very helpful.

[@schammond8993]

This young man is getting a reality education. Well done. I wish and hope everyone listens to this.

[@Jbaby8901]

True, but you have idiots that still don't get it.

[@paintspot1509]

​@Jbaby8901 that old dude is talking nonsense. America makes more money on those debts then the interest costs.... how can people be so stupid.

[@leilv2555]

@@Jbaby8901 sir, the U.S. pays USD dollars as interest, not actual goods. Where did those USD come from, it is from the central banks. They are piece of papers everyone needs for international trades. The U.S. founding fathers already created a perfect system for the U.S. people. As long as no stupid people to messed it up, American will capitalize on all other countries for very long time!

[@garrettdavis6802]

Even as a young child I lost my mind over this. Why fund a country you see as a threat??? What are we doing??

[@jamesdiaz1653]

Cause beggers cant be choosers and the world is a lot more dependent on each other than what you see in the media and hear from politicians (exactly what the video is saying here). If China does not help to buy that US debt, your Mommy and Daddy are probably gonna lose their jobs or have a much lower income. You'll probably not be able to type comments here as comfortably as you are right now.

[@wenlielin5623]

You are not funding, you are paying back your debt.

[@elvis4868]

You are a dumbass and worrying abt matters that don't concern you😂

[@garrettdavis6802]

@ obviously. But why even initiate a debt with a country you see as a threat

[@HeywardSanders]

That what happens when a country is addicted to having so much fun, which helps take their reality away. Is why foreigners say Americans are weak, that the corporate system can use them to take over the country.

[@RoyVowels]

Our society is absolutely sick...

[@matthewjorgenson8129]

Dr. Mark Blyth stated in video in the last 10 years that the reason China has US debt is most of the time we pay them in dollars to manufacture products we used to make. They can’t use dollars as domestic currency, so the easiest thing to convert it to is US treasury bill. So basically we give China a treasury bill bearing 2% over 30 years and they just gave us in return TVs. Treasury bills are savings, and are financial assets.

[@ike8018]

It's the reality of global economics as it is practiced, globally.

[@papuette]

@@ike8018 put Brasil aside. We pay our debt and now USA is in debt whit us. Big shot in the foot. Lol.

[@ike8018]

@papuette great ! Brazil no longer follows global economics. Same with Mali who has paid off all it's debts.

[@papuette]

@ike8018 the difference is that we are BRICS and no one can stop us. The world is following us, including some NATO nations. US and Europe are going down. They had the chance to do right and they didn't. Now its time to cry. Not for us.

[@ike8018]

@@papuette BRICS is one of greatest innovations to happen in human economics. Long may it continue, so long as the nations therein continue on the path of economic emancipation of people.

[@papuette]

@ike8018 you're right

[@AnthonyHalliday-dq6qo]

The real question is: why is this not common knowledge amongst the people

[@sladjanab]

Of course! Why wouldnt they? With everything america has done to the world they want to be ready to deffend themselves, and they have the right to do so

[@peanut0brain]

According to prof kishore mubabani of Singapore, president Xi told Obama to stop sailing warships into the scs raising tensions. Obama ignored it just like Biden ignored putins warning before the Űkrąïně war. So then China built artificial island military bases as a reaction to Obamas aggressiveness.

[@meffox1189]

Thank you Dr Wolff. I hear you. I understand you. Powerful...

[@AllistairNeil]

Wolff doesn't know anything about China. Their economy is about to collapse, their population is dying fast, meanwhile back in the US things are actually looking pretty good for the future, healthy population growth thanks to immigration and a good economy. No one except N Koreans want to emigrate to China.😂 Sorry but Wolff's an idiot.

[@jemalwright3414]

Exactly. Thanks for posting this and hat’s off to the two having the conversation.🙌🏽

[@leilv2555]

Hell, no. The central bank just print more money for liquidity in the international market. U.S use a piece of paper to buy actual goods from other countries. Basic international trade class 401

[@wpschiappa]

Finally agreed with Him !

[@LibertyAidAcademy]

What? How can a government owe money? Absurd.

[@winniejohnson5559]

They all can and maybe do or have

[@Skipbo000]

Further - how does the US owe itself if it is also the issuer of the Dollar? we must stop believing these old lies.

[@LibertyAidAcademy]

@@winniejohnson5559 thanks for your response no physical body demon 5559. To whom do all the cuntries owe money to? Where is the paperwork on that? Proof up or shut up.

[@jonathannesbitt]

US sells treasury bonds which are IOU with interest

[@LibertyAidAcademy]

@@jonathannesbitt haahahahahaha!!!! You can regurgitate but can't think, got it parrot. Why would the usa sell anything? Why not just print the dollars? Derp!!!