It’s often enlightening watching stock market news and business news. Economists and fund managers in Canada are talking about unprecedented money people have in savings. It takes like two seconds to find out the numbers are completely skewed by the fact that the people who have capital increased their wealth (in many cases exponentially), meanwhile those without wealth actually have came out worse off if we factor the inflation in essential items (housing, food). Many people increased the amount of debt they have from before pandemic which is the only way this system can keep the wheels spinning. I think it will be a case where because the stock market has been completely socialized you won’t hear about the increasing immiseration for regular people and recession or depression won’t be talked about because it will only be felt by people other than the owners of capital. The only signs will be the increasing break down of trust in institutions and occasional outbursts of stochastic political and “non political” violence, crime and diseases of despair. It won’t be like 1929 or 2008 because those were felt by all, in this case it’ll be felt by the majority of alienated, isolated, mass of humanity who have no vehicles for demanding change because the labor movement globally has largely been smashed and people don’t feel the pain as a class, but rather as indoctrinated isolated individuals.
@@RaspberryBang Because they are owned by the wealthy. And even on UA-cam now many UA-camrs got so wealthy that they will also shift further to the right.
It really boggles my mind when I see westerners say we could never completely get rid of covid because we’re too big. Then how the hell have the Chinese gotten rid of it??? We need Chinese style lockdowns globally to actually end the spread of covid.
Most significant point: Policies adapted in the US to mitigate the effects of Covid on the economy were motivated by the desire to return the country to the status quo. That status quo, of course, is informed by a neo-liberal ideology that effectively creates a widening gap between those who have more and those who have less. Such an approach to economics would ultimately have torn this country apart as events of January 6th presaged.
Covid will open the door to authoritarian capitalism. Every 4 to 5 years this system tanks and social democracy will not be enough. Authoritarian capitalism is adaptable to crisis and is able to deal with any threats to the market or state with efficiency. Its a terrifying future we are heading into.
While listening to this I wished I could share it with friends and family of Facebook, but, compared to most of what Jacobin puts out, they're still on Baby's First Book of Politics. It's such a shame, because if we could just snap them out of their "immigrants bad/country good" stupor a great deal of what is said here would resonate.
Excellent. Please bring him back as a regular. At least once a month, maybe more often.
Tooze is very insightful.
It’s often enlightening watching stock market news and business news. Economists and fund managers in Canada are talking about unprecedented money people have in savings. It takes like two seconds to find out the numbers are completely skewed by the fact that the people who have capital increased their wealth (in many cases exponentially), meanwhile those without wealth actually have came out worse off if we factor the inflation in essential items (housing, food). Many people increased the amount of debt they have from before pandemic which is the only way this system can keep the wheels spinning. I think it will be a case where because the stock market has been completely socialized you won’t hear about the increasing immiseration for regular people and recession or depression won’t be talked about because it will only be felt by people other than the owners of capital. The only signs will be the increasing break down of trust in institutions and occasional outbursts of stochastic political and “non political” violence, crime and diseases of despair. It won’t be like 1929 or 2008 because those were felt by all, in this case it’ll be felt by the majority of alienated, isolated, mass of humanity who have no vehicles for demanding change because the labor movement globally has largely been smashed and people don’t feel the pain as a class, but rather as indoctrinated isolated individuals.
"Stochastic" ???
Excellent analysis
I agree.
This is still an extraordinarily informative and relevant interview. 🌠
NB: Yanis Varoufakis is also excellent on this head. (from Green Fire, UK) 🌈🦉
I love Prof. Tooze
Great interview; he was wonderful.
It was very interesting and informative.
Thank you All
I'll admit, I laughed at the title. At least until my MS related chest pain forced me to stop...
I'm glad there are others who feel like I do and do not fall for this bs.
@@luperamos7307 yeah. The past two years has made me realize that progressive media fails us all.
@@RaspberryBang Because they are owned by the wealthy. And even on UA-cam now many UA-camrs got so wealthy that they will also shift further to the right.
Loved his soccer analogy to explain the differences in response, between China and the US,to the pandemic!
It really boggles my mind when I see westerners say we could never completely get rid of covid because we’re too big. Then how the hell have the Chinese gotten rid of it??? We need Chinese style lockdowns globally to actually end the spread of covid.
Most significant point: Policies adapted in the US to mitigate the effects of Covid on the economy were motivated by the desire to return the country to the status quo. That status quo, of course, is informed by a neo-liberal ideology that effectively creates a widening gap between those who have more and those who have less. Such an approach to economics would ultimately have torn this country apart as events of January 6th presaged.
Great interview.
Covid will open the door to authoritarian capitalism. Every 4 to 5 years this system tanks and social democracy will not be enough. Authoritarian capitalism is adaptable to crisis and is able to deal with any threats to the market or state with efficiency. Its a terrifying future we are heading into.
I hope you're wrong but...
Large corporations had a windfall. Locally where I am, we had 3 mom and pops close.
I hope it does
to adam tooze! "you talk about the central banks, i love the topic." rofl
Gosh, i hope so. Not sustainable.
Geez if I wanted to watch Anna K i would go to TYT Geez
This guy is on one if he thinks Neoliberalism is over.
There's loads of investigation into it Ana. Billyblog & friends have been investigating it since the early 80s.
It ended trump, maga, gop, so winning
While listening to this I wished I could share it with friends and family of Facebook, but, compared to most of what Jacobin puts out, they're still on Baby's First Book of Politics. It's such a shame, because if we could just snap them out of their "immigrants bad/country good" stupor a great deal of what is said here would resonate.
What on earth are you talking about? (!) 🤔
will this guy end neoliberalism❔
No. But We could
there is no neoliberalism lol, what are you guys talking about
Blink and you'll miss it. It takes skill to identify.