Economic Update: Extremes of Rich & Poor in U.S. Capitalism

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  • Опубліковано 27 лис 2024

КОМЕНТАРІ • 683

  • @shantiwolf5291
    @shantiwolf5291 3 роки тому +49

    I live in the UK, hearing you talk about our NHS is depressing because our government are desperately trying and succeeding to privatise, have been for years, the idea of have an American style health care system here is very disturbing.

    • @mikehayne538
      @mikehayne538 3 роки тому +1

      In U.S. we saw news, did not understand, England breaking away from European Union. A return to more selfish times? I support King William and wonder when will be the coronation.

    • @PropagandasaurusRex
      @PropagandasaurusRex 3 роки тому +3

      The English are about to get f***ed so hard in every orifice they have. I hope for the Scots and the Northern Irish they can get out of the union in time.
      Privatization of the NHS was one of the main reasons for Brexit, within the EU that would never have been possible.

    • @shantiwolf5291
      @shantiwolf5291 3 роки тому

      @@mikehayne538 it will be Charles who takes to throne after, Elizabeth, which gives me some hope, because he does have some care for environmental issues brexit is bad, we basically gave ourselves sanctions, thinking we'd be better off without those that immigrated to the UK, now we don't have enough truck drivers, or farm pickers, all our supermarkets have tonnes of bare shelves, we can't eat sovereignty.

    • @lorrainewest7408
      @lorrainewest7408 3 роки тому +2

      You better believe it. Opinion is better accountability at the top. Wastage. On purpose??? Run into ground, wastage. Do not let the Government be bought off. Privatised is expensive.

    • @lorrainewest7408
      @lorrainewest7408 3 роки тому

      Supposed to be on site of NHS being possibly privatised in dreams of big wiggies.

  • @sarahzhu6468
    @sarahzhu6468 3 роки тому +16

    Your presentations-economic classes are the best! I have enjoyed what you have taught in the classes. Thank you so much! Pls take care.

    • @peaceleader7315
      @peaceleader7315 Рік тому

      If only our majority population pledge and serious living conditions isn't monetised by world capitalistic media institutions... hmmmm..😔

  • @briananderson8428
    @briananderson8428 2 роки тому +1

    "You all know it because we've all grown up in it." So simple, but not at all simplistic. Listen twice to this presentation. The second time, you will catch so much more. Thanks once again, Dr. Wolff.

    • @briananderson8428
      @briananderson8428 Рік тому

      @Russo Zelinsky You do realize that in the absence of immigration, our real population growth would be 0.5%. In order for a nation to advance and prosper, demographers tell us that we need a real annual population growth of 2-3%.

  • @jeffbrown-hill7739
    @jeffbrown-hill7739 3 роки тому +39

    Brilliant as always, Mr. Wolff.

  • @Laynasmuse
    @Laynasmuse 3 роки тому +1

    I'm so thankful for you Professor Wolff.

  • @catcaves
    @catcaves 3 роки тому +48

    I honestly believe if man survives the next 200 years historians will look back and ask ' Did you really allow people to have so much wealth while people starved?

    • @walden6272
      @walden6272 3 роки тому +11

      What starves people isn't lack of money, it's the system itself. Native Americans didn't starve and they had plenty of food before there is capitalism to limit their access to such resources.

    • @mikehayne538
      @mikehayne538 3 роки тому

      Interesting. I was thinking since normal height the world over for a man is 5'6", historians will say, "they were a bloated civilization of weak, cowardly, ignoramous!"

    • @catcaves
      @catcaves 3 роки тому +7

      @@walden6272 I think most people don't grasp how much money a billion dollars is. 1 million seconds= 11 days. 1 billion seconds =32 years. We allow billionaires in our society. We believe in equality and fairness in almost all aspects of our society except wealth. In sports we do not let men compete against women. We have weight classes but somehow its ok for 600 billionaires to own more wealth than 160 million people.

    • @truthhurts4771
      @truthhurts4771 3 роки тому +8

      @@catcaves Trillion = 32,000 years. Trump gave corporations $.4.5 Trillion$ adding to taxpayers debt. Printed bailout dollars adding to their $1.5 trillion corporations have made during the pandemic. Too bad for taxpayers corporations do not pay taxes. 600+ billionaires own 50% of America's wealth. 40% of Americans do not have $400 in the bank. 75% live paycheck to paycheck. 99.99% of Americans are letting .01% decide their fate. Government has merged with corporations = fascism

    • @TTTzzzz
      @TTTzzzz 3 роки тому

      @@catcaves In the US, money is the Golden Calf.

  • @lisakukla459
    @lisakukla459 3 роки тому +1

    I really love this program. Thank you!

  • @raymondjacinto4880
    @raymondjacinto4880 3 роки тому +34

    The middle class and poor are bamboozle by both partys day in and twice at night.

  • @garyburke6591
    @garyburke6591 3 роки тому +14

    The gap between rich and poor has never been bigger. The rich need to study the French revolution because if they do not start paying their fair share of taxes, they face losing everything.

    • @chris.hartliss
      @chris.hartliss 3 роки тому +1

      Even if they start giving more in taxes, it literally just drifts back to them by our government. Lol
      We need to take the BUSINESSES from them!

    • @garyhamlin461
      @garyhamlin461 3 роки тому +1

      @@chris.hartliss taking someone else's business is theft. you wouldn't want anyone stealing your hard earned money would you?

    • @gdobie1west988
      @gdobie1west988 2 роки тому +1

      @@chris.hartliss Why don't you start your own business?? Too much work or effort?? lol

    • @player627
      @player627 Рік тому

      You’re the reason many of us own an AR-15.

  • @franciscofrancesco7844
    @franciscofrancesco7844 3 роки тому +1

    Thank you, Proff Wolff. Your videos are very educational.

  • @Tom-Travels
    @Tom-Travels 3 роки тому +11

    I asked the government agent, "Why are you wrecking my life?" He replied, "Because it is wreckable."

    • @YourCapyFrenBigly_3DPipes1999
      @YourCapyFrenBigly_3DPipes1999 Рік тому

      Many of them really do feel this way. It's stunning.
      Most of what they do is so needlessly destructive even cruel. And yet they keep doing it. I often wonder why.

  • @Yaniv_YT
    @Yaniv_YT 3 роки тому +6

    Thank you professor wolff for all your sincere care, your knowledge and your commitment of making people's life better.

  • @soniksocialist
    @soniksocialist 3 роки тому +4

    Sir you are a beautiful gem of a person. Thanks so much for your selflessness. You make me understand. That is of course what a teacher should do. Take good care you are a source of verity that is far too scant in this society.

  • @wuhui
    @wuhui 3 роки тому +11

    Brilliant analysis. We need more experts like him

    • @zoomzoom3950
      @zoomzoom3950 3 роки тому

      yes, that will lead you to wealth and happiness in your future.
      /s

  • @OzzeyfromVek
    @OzzeyfromVek 3 роки тому +4

    Thank you

  • @ike1089
    @ike1089 3 роки тому +6

    “How stupid do you think the people of this country are?…don’t answer that question” 😆😂💀

    • @truthhurts4771
      @truthhurts4771 3 роки тому

      Only two things are infinite, the universe and human stupidity and I'm not sure about the former. - Albert Einstein

  • @marygard4608
    @marygard4608 3 роки тому +6

    Perfect definition for neoliberalism-a system that sets government and corporations at odds with each other.
    Great, Prof. Wolff.

    • @robertkoch7388
      @robertkoch7388 3 роки тому

      ua-cam.com/video/HqVQUZyIfeA/v-deo.html

  • @nicka731
    @nicka731 3 роки тому +5

    15:15 Emerald mine heir: Am I a joke to you???
    Wolff: Yes

  • @gracieallen8285
    @gracieallen8285 3 роки тому +40

    There’s nothing less exciting than billionaires fighting about their space trip.

    • @jgalt308
      @jgalt308 3 роки тому

      Less filling...tastes great!!!

    • @Arbaaltheundefeated
      @Arbaaltheundefeated 3 роки тому +3

      Well, I'm quite excited to see if they come crashing back down in a fireball.

    • @gracieallen8285
      @gracieallen8285 3 роки тому

      @elmartillogrande you’re off topic

    • @gracieallen8285
      @gracieallen8285 3 роки тому +1

      @elmartillogrande on topic would have been about space or billionaires going to space

    • @weiskl887
      @weiskl887 3 роки тому

      @elmartillogrande LOL made my day. But you are wrong Biden is not cheap. He is set up like Obama after the presidency with a neat package of lucrative retirement. You are right though that is still Prostitution.

  • @rsdmusic6325
    @rsdmusic6325 3 роки тому +11

    Another great video Prof Wolff. Hope you are well.

  • @jefferylongbrake7278
    @jefferylongbrake7278 3 роки тому +11

    Richard Wolff for President

    • @juniorgod321
      @juniorgod321 3 роки тому

      And Greta Thunderberg for VP, right???? And AOC for treasure secretary and Louis Farrakhan for Secretary of State too!🤪🤪🤪😂😂😂

    • @MrGtraynor
      @MrGtraynor 3 роки тому

      @@juniorgod321 Mr Longbrake was just dreaming of a more sensible world. Wolff is much too clever and honest to be President. Being brain-dead and totally corrupt are the essential qualities of any US President.

  • @jeffherringa4709
    @jeffherringa4709 3 роки тому +8

    We had to leave early on Wednesday, August 25th because our urban school district doesn't have adequate air conditioning in many of it's older schools. During the heat advisory or heat warning the superintendent admitted that they don't have money for adequate air conditioning. So, all students and staff had to leave their school buildings by 12:30-1:00 p.m. that day. I wonder if others have similar stories here.

  • @chriscoleman1714
    @chriscoleman1714 3 роки тому +30

    Why can Nobody explain why we don’t follow the advice of the Declaration of Independence?
    “That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government”

    • @ProleDaddy
      @ProleDaddy 3 роки тому +6

      Solidarity

    • @gking407
      @gking407 3 роки тому +13

      Subtract the number of people who are very wealthy or at least doing very well financially.
      Then subtract the number of people who need help, but through great struggle and sacrifice make financial ends meet. They can proudly tell themselves “I pulled myself up by my own bootstraps” which of course is silly.
      Then subtract the number of people who need help and don’t have the resources to fight these ideological battles individually.
      What organization will provide resistance and affect real change? How many people are left? Not many, as we’ve seen over decades, and that is precisely how this crap system perpetuates itself.

    • @ac7205
      @ac7205 3 роки тому +3

      @@gking407 👏👏👏🇺🇸

    • @chriscoleman1714
      @chriscoleman1714 3 роки тому +6

      @Mason 'The Fib Doctor' Marangella oh but no. I was all for it. I kept thinking why can’t understand why the left can’t do this and combine with the right. American politics is NO LONGER a left vs right thing. It’s the 1% vs everyone else.

    • @chriscoleman1714
      @chriscoleman1714 3 роки тому +3

      @@gking407 I can’t really disagree with you. This “I’ve got mine so F everyone else” mentality is a super toxic ideology. We honestly need to just teach everyone how to fire a gun and go down fighting. Because in 50 more years of rage humping the planet is gonna kill us anyways.

  • @buddhasattva
    @buddhasattva 3 роки тому +2

    Thanks for the up-load. Did Economics as an option a long time ago. Can't give you more thumb-up on the official thumb-up icon. Here's 👍👍👍👍👍 more. Extreme capitalism caters to a few, the Golden Mean is the course.

  • @Mediumdoo
    @Mediumdoo 3 роки тому +17

    Get em prof wolf!

    • @brookekesterson2053
      @brookekesterson2053 3 роки тому +1

      never have i woke up every morning waiting to hear another update on wtf is going on in this country.

  • @Juju6244-q3f
    @Juju6244-q3f 3 роки тому +5

    Superb.
    I was in Eastern Europe five years ago and had badly torn my minuscus in my left knee. The surgeon apologized and said since I had no insurance in his country
    I’d have to pay the full amount.
    The total cost for the operation and 1.5 days in the hospital including very professional doctors and nurses was $81.00.
    How much would that have cost in the “Land of the Suckers” without insurance?!

  • @zacconeacademy1883
    @zacconeacademy1883 3 роки тому +1

    Saying we can’t help people because there’s not enough money is like saying we can’t build roads because there’s not enough miles

  • @SB-io7rw
    @SB-io7rw 3 роки тому +7

    These updates are true gems. Thank you.

  • @iliketacos6067
    @iliketacos6067 3 роки тому +1

    We love the professor!

  • @adambrock7692
    @adambrock7692 2 роки тому +1

    Even having medical insurance very expensive still left with thousands in medical cost for average care . Yeah living the American dream.

  • @albertmorris6162
    @albertmorris6162 3 роки тому +25

    "Why should the poor settle for the crumbs that fall from the rich man's table?" -- Oscar Wilde; The Soul of Man Under Socialism.

    • @zoomzoom3950
      @zoomzoom3950 3 роки тому +4

      because the poor are incapable or unwilling to do more for themselves. they only see the wealth of others and become covetous and envious while they don't see the risk, work, effort and sacrifice required to create the wealth.

    • @gking407
      @gking407 3 роки тому +6

      @@zoomzoom3950 keep telling yourself that while nothing changes

    • @zoomzoom3950
      @zoomzoom3950 3 роки тому +1

      @@gking407 I call it like I see it; doesn't matter to me, the poor and the needy will continue to do the same things over and over expecting different results.
      Here's an example: a poor person wins millions in the lottery; within a few years they're poor again, and worse off as they're in significant debt. Happens frequently enough that you'd think someone would notice?
      enjoy your present and future; I am!

    • @dizzymetrics
      @dizzymetrics 3 роки тому +9

      Getting out of poverty is extremely difficult. Why is it so difficult to understand this basic fact?
      The people with accumulated capital can make their capital "work" therefore earning more capital. The people with no capital have to accumulate wealth in order to obtain capital. For the poor, accumulating wealth is almost never happening. Everything is tasked against you.

    • @zoomzoom3950
      @zoomzoom3950 3 роки тому

      @@dizzymetrics so give up? you can start small, it's easier than ever, but you're going to need to educate yourself and put in the effort to pursue success.
      "He that is good at making excuses is seldom good for anything else." - Benjamin Franklin

  • @lesliestenta3084
    @lesliestenta3084 3 роки тому +4

    The main reason I left Hawaii and the US. My hours we’re cut drastically at a hospital where I worked for 28 years. My cobra payment was $600 a month. I retired early and moved overseas 3 years ago. We have excellent and efficient healthcare in Chiangmai. Although unfortunately the vaccine rollout was a complete SNAFU. Anyway, my total cost for healthcare for 3?years was around $250 dollars, thats it. I don’t need healthcare insurance here and if I did it’s totally affordable. I have expat friends from California and Texas and none us want to move back and be dirt poor. Also we all still pay State and federal taxes.

    • @СтипанБиндера
      @СтипанБиндера 3 роки тому

      All this is very cool, but the inhabitants of the countries of the 3rd world are ready to kill their mother for your salary.

  • @automaton111
    @automaton111 3 роки тому +17

    The term “costs too much” never applies at the federal level. We have a fiat currency that they spend into existence. It’s not borrowed from rich people or China.

    • @georgefurman4371
      @georgefurman4371 3 роки тому

      It is borrowed from the work of millions in this and other countries. In fact is not borrowed . it is taken , on the basis of their belief they can and own the work of other individuals and countries work and resources.it is the belief that present and future work is taken for granted as financial property to justify their granting themselves the wealth of humanity.

    • @aichpvee
      @aichpvee 3 роки тому

      @@georgefurman4371 That's not how money works, George. Are capitalists stealing the value we create? Absolutely. But it's not due to federal spending. Federal taxes? Yes. But not the spending.
      I'd be happy to give you some reading recommendations to help you straighten out your understanding.

    • @georgefurman4371
      @georgefurman4371 3 роки тому +2

      @@aichpvee I comprehend this economic system, I understand the economy of war , economic colonialism , etc. I know when a Latin American country is forced to devalue its national currency in order to increase the buying capacity of the dollar. I know of speculation when today the peso in Mexico is 10 × 1 d olar and tomorrow 100 × 1 d olar and automatically the Mexican and American corporations raise their profits artificially buying dollars bi the billions the day before the announcement of the change in value. I comprehend the capitalist thievery. I took classes with economists in Mexico and learned enough. I only used one aspect of their ideological justifications to keep exploiting and hoarding wealth.

    • @georgefurman4371
      @georgefurman4371 3 роки тому +1

      @@aichpvee what I would like you to explain to others in hopes more people comprehend the political implications and vice versa of the decisions taken on war and the economy .The intrinsic dependency of the present imperialist stage of capitalism in the world market on war and why it will collapse if wars are stopped. That will give a more accurate description and explanation to the why Afghanistan happened and was finally left in the near past. And if it is really important the military strategy as a bottom line.

    • @SleepingGiantAfrica
      @SleepingGiantAfrica 3 роки тому +3

      Yep, China just buys US treasuries because they don't really know what else to do with all of the dollar reserves that they have on hand, it's just a mere shuffling around of money, nothing more, nothing less.

  • @hsw2437
    @hsw2437 3 роки тому +1

    Much Respect, Prof.

  • @samkim8451
    @samkim8451 3 роки тому +6

    Thanks dr Wolff 👍🇸🇩✌️🌹☮️🌎✅

  • @bdcarlitosway
    @bdcarlitosway 3 роки тому +1

    "We're richer than they are, but we do less for our children. You think about that!"
    I feel like I'm being sent to the corner of the room to think about what I did.

  • @csantana1971
    @csantana1971 3 роки тому +1

    I remember a few guys attempting to sexually assault me when I was a driver... one offered me money to go to his house. My mistake was not filling a sexual assault attempt, I gave the rider a bad review only… one drunk guy I had to physically push him from me. My solution to this problem was deactivating rides and activate Uber Eats only.

  • @alexoperacz9913
    @alexoperacz9913 3 роки тому +3

    thank you professor Wolff....

  • @brandonmiles8174
    @brandonmiles8174 3 роки тому +6

    My wife and I had our son in February. We were told by the birth center and insurance both that we were covered there, and given an estimate of the cost, of course, a few thousand dollars. We had to pay every dime 6 weeks before due date. We had it paid, although it put us in a huge bind. Then, about two months ago, we get a bill in the mail. That bill was over twice what we paid in our initial estimate, and laid out that the insurance company was going to pay zero dollars towards the birth. That should be illegal. Once the birth center told us we were covered, if the insurance refused to pay, then it should be up to them to take them to court for reimbursement.

    • @zoomzoom3950
      @zoomzoom3950 3 роки тому

      have written proof of what you're saying regarding your coverage? then you have a case.

    • @STScott-qo4pw
      @STScott-qo4pw 3 роки тому +2

      agreed, but both the insurance vermin and the birth centre (LLC, naturally) can each afford brigades of lawyers. you likely can't. Who's easiest to shake down for cash? that's how they think.

    • @penelopejewell-ferrer13
      @penelopejewell-ferrer13 3 роки тому

      File an appeal with the insurance company.

    • @brandonmiles8174
      @brandonmiles8174 3 роки тому

      @@jimbodriver1015 thanks. I've got to go back through our original documents. We never had anything written on our end from the insurance company to begin with, just a verbal affirmation of coverage through the birth center, but we have paperwork from the birth center that hopefully will be enough proof to at least put it on them.

  • @SherrieTravelVlog
    @SherrieTravelVlog 3 роки тому +5

    Great video!!

  • @amindra963
    @amindra963 3 роки тому +3

    The trillions spent in Afghanistan was ordinary tax payer's money. Who benefited the most?

  • @vtg_ace
    @vtg_ace 3 роки тому +1

    You just gained a subscriber !!🙏🏽

  • @barbaralui4668
    @barbaralui4668 3 роки тому

    Thank you, Prof. Wolf.

  • @ormendahl
    @ormendahl 3 роки тому +6

    Thank you for the great coverage as always 🔥

  • @kerrysammy3277
    @kerrysammy3277 3 роки тому +3

    I enjoy listening

  • @ac7205
    @ac7205 3 роки тому +6

    Next level reporting in this episode. So good I had to watch it twice. Thank you D@W!🇺🇸

  • @blardymunggas6884
    @blardymunggas6884 3 роки тому +4

    Very wise analysis and explanation. Thank you

    • @zoomzoom3950
      @zoomzoom3950 3 роки тому

      the pied piper works his magic on marxist dullards. fun to watch, that's why I'm here.

  • @saultorres8125
    @saultorres8125 3 роки тому +1

    I just found this gospel passage that sounds a lot like Professor Wolf's critique of capitalism: James ch5, verse 1 to 6. 👍🏼

  • @patbranigan6501
    @patbranigan6501 3 роки тому +13

    I use taxis because the drivers are bonded.

  • @LONEWOLF..314-S-T-L
    @LONEWOLF..314-S-T-L 3 роки тому

    GREAT TALKING POINTS MR WOLFF AS USUAL ... 💯💪🏾❤👍🏾

  • @eldridgedavis
    @eldridgedavis 3 роки тому +8

    Yay! Prof W upload!

  • @bgiv2010
    @bgiv2010 3 роки тому +1

    "But Ri~ck! I don't wanna build housing for the homeless. I wanna build luxury cruise rocket ships!"

    • @garyhamlin461
      @garyhamlin461 3 роки тому

      well with rent controls, who would want to build affordable housing?

  • @notquitedone51
    @notquitedone51 3 роки тому +5

    I'm not religious, but I am rooting for a Second Coming. And if a rocket blows one of those billionaires out of the sky, I'll chip in for the cost of it.

    • @notquitedone51
      @notquitedone51 3 роки тому

      @@jimbodriver1015 trouble is, this species likely will be in charge of AI for many years to come. Countless ways to spoil it.

    • @Weiner-Worm
      @Weiner-Worm 3 роки тому

      @@jimbodriver1015 I hope the AI turn into the strictest of communists. Making sure every person is equal because they determine that to be most fair. Nothing funnier than a rabid capitalis like Musk or Bezos ushering in our new overloads lol

  • @jocosus3
    @jocosus3 3 роки тому

    5:48 Ireland treats "the money given to children the way the United States treats the money to be given to corporations for tax cuts" - #ProfWolffMicDrop

  • @YellowstoneCommie
    @YellowstoneCommie 3 роки тому

    thanks Prof Wolff 🖖

  • @garyhamlin461
    @garyhamlin461 3 роки тому +1

    extreme inequality is caused by the government, not free market capitalism. the fed's artificially low interest rates and money printing has propped up the stock market, which has overwhelmingly benefited the wealthy. additionally, the fed, and the state's constant rescuing of financial institutions has led to the moral hazard of excessive speculation in the stock market by these institutions, rather than more conservative investments with the threat that they could fail.

  • @jadewindskylark
    @jadewindskylark 3 роки тому +1

    The same thing is going on in Dollar General. They want each person to the job of 4 people. They work skeleton crews and they care less if it hurts you. I have worked 2 different stores and its the same thing. You fight about hours, you fight about pay, and as a disabled person you fight about what you can or cannot do. There is no protections and even if you do manage to get a hold of OSHA or ADA they do nothing to solve it. I am trying to get by on 198-240 a week as a disabled person. I have to fight for snap just to eat and i been denied SSDI or any AID beyond that. It is a struggle everyday to do the work i do yet i am treated as if i am just crap because i am just a (entry) level worker. I was even told by people that since i didnt go to college was my fault. Well by the time it came for my college i was denied due to my disability and now i am 42 disabled still and trying to take care of a disabled wife and a mother who is dieing. I would be homeless if it where not for my mom giving us her house to live in. I have a 19 year old son who i dont know what to say when he asks whats the point in college? or working dad? you work and you still dont own anything. So why bother. I mean what do you tell these kids? How do you tell them that society just doesnt give a crap about anyone anymore? I have tried the programs to work and they fail finding me a job because i live in a very rural area. I cant afford to move. I cant afford to drive the long distances to a bigger city all the time. So what can be done in this system for those of us screwed by it?

    • @williamgibson6429
      @williamgibson6429 3 роки тому

      jade zebra,
      OR HELP GET AWARENESS OF THE PLUNDER TAX !
      I would like to see 400 million AMERICANS each with a company “TOO BIG TO
      FAIL” !But when you are big you should be careful not to step on other people's
      toes! And when you do it should cost you! The way things are now the big
      governments and big business help each other step on people's toes THAT IS A
      FORM OF SOCIALISM CALLED FASCISM! And when BIG BUSINESS AND BIG
      GOVERNMENT OVER STEPS THEY NEED TO BE PUNISHED AND THE FINES
      NEED TO GO TO THE POOR AND MIDDLE CLASS! If all 7 Billion people on this
      planet get together and demand that the poor are taken care of all the current
      workers will be managers and all the manager will be directors! Almost everyone
      can work, but FIRST A HOME! THEN A PHONE!THEN A JOB! What BERNIE
      DOESN’T TELL YOU IS ALL THE PROBLEMS ARE BECAUSE OF SOCIALISM!
      AND WHAT DENNIS PRAGER DOESN’T TELL PEOPLE IS HE WANTS BIG
      BUSINESS AND BIG BUSINESS TO GET ALONG TOGETHER AND THAT IS A
      FORM OF SOCIALISM CALLED FASCISM! I am hoping that the plunder TAX will
      gain traction! Ronald Regan said if you want LESS of something TAX IT! I want
      less greedy RICH .01% ERS! I am an ultra-conservative! One in 6 children in AMERICA GO TO BED HUNGRY!
      WE HAVE SPENT 20 TRILLION ON HOMELESS, BUT THE BUREAUCRATS GOT
      IT! THAT IS 40 MILLION PER HOMELESS PERSON! IT IS A RACKETT!
      But now we must impose a plunder tax on the .01% that s getting so rich that they
      will destroy not only the poor! But the middle classes! If they get the 10% tax
      they will virtually be paid to be the richest people on the planet! A C.E.O. makes
      680 TIMES WHAT THE AVERAGE WORKER MAKES!
      They can be on many boards ! so they can make thousands of times what average
      workers make !Why not just hire 680 people to do the C.E.O. job? Wouldn’t 680
      heads be better than one overpaid head?
      The TAX INCOME: is paid 70% by the workers, and the other 30% is paid by the
      small businesses! While the rich corporation and “NON ” profits pay nothing as
      they get corporate welfare! The rich have never paid even for murder! No
      execution of a rich person in our history! The TAX should never be imposed on
      the poor or MIDDLE CLASSES! It should not even be imposed on small business!
      The plunders TAX SHOULD START AT 2 million dollars at 40% then graduate up
      to the richest at 90% .the Rothschild is said to have 1500 TRILLION DOLLARS in
      secret vaults in the form of gold! THIS IS INCOME TAX EVASION on a grand
      scale!7 billion people on planet earth need to get together and demand that
      governments(ALL OF THEM)stop letting the rich PLUNDER!
      And the entire world needs to cave in on the ultra wealthy! OTHERWISE, THE
      RICH WILL HAVE A TWO CLASS SOCIETY THE SUPER RICH (WHO ANSWER
      TO NO ONE!)AND THE SUPER POOR! PUTIN AND THE OTHER DICTATORS
      ARE ALL CAPITALIST THEY ARE JUST FASCIST CAPITALIST… the stock
      market needs to be properly taxed! As well as derivatives (A huge 14.4
      QUADRILLION DOLLAR MARKET) So if we impose a poor tax on derivatives of
      1% then We can have $14 TRILLION DOLLARS to house, employ train the
      homeless, orphans, unemployed widows underemployed and those who can’t
      work! This is not a revolution it is polite society imposing its values on plunder, A VERY CAPITALIST CONCEPT …plunder must be punished!
      13 million millionaires in the world.
      043 billionaires GATES, SLIM, ELON MUSK,
      the trillionaires Warburg's Rockefeller's, DuPont's, Rothschild's Have about 600
      trillion, $600,000,000,000,000.oo
      ROTHSCHILD'S, ROCKEFELLER'S,
      Warburg's ,TRILLIONAIRES.001% $600,000,000,000,000.oo
      BILLIONAIRES ( 2043 ) .01 %
      $13,000,000,000,000,000,000.oo
      MILLIONAIRES (13 MILLION) .1% $13,000,600,500,000,000,000.oo
      ALL TAXATION SHOULD START AT TWO MILLION AND GRADUATE UP! to
      90% Anyone under two million should not be taxed!
      To tax the poor is counterproductive especially when that money goes to the
      rich. The derivatives market is 1.4 QUADRILLION! If we TAX IT AT 1% that is 1.4
      TRILLION TO HELP THE HOMELESS AND THE POOR!--
      We need to tax the rich 300 TRILLION DOLLARS AND THAT WILL ENABLE US TO
      GIVE EVERY WOMAN MAN AND CHILD $50,000.oo to buy their education health care a home and
      eliminate 99% of government, crime, and eliminate the possibility of WAR!
      It must be a world wide reset as the rich now control two thirds of all wealth and will soon start
      (EEER KEEP) MURDERING the populations of the world!
      Only a world wide reset can make a middle class that has the power to stop them!
      And no SOCIALISM is not the way to a MIDDLE CLASS,
      it would be the end of the middle classes.

      Warm Regards,
      William GIBSON

  • @mikehayne538
    @mikehayne538 3 роки тому +1

    Love Economic Update and Professor Wolfe. We don't need to hold protests because we can still get our daily bread, but it is nice to know we are not isolated and alone thinking everyone is dancing on TV driving new cars and we are living in tents.

  • @jocosus3
    @jocosus3 3 роки тому

    20:30 Pre-pandemic, I'm glad I always took a taxi instead of Uber/Lyft/etc. Grateful to be able to afford the safer option.

  • @LNS1389
    @LNS1389 3 роки тому +1

    That intro though

  • @siahiongngie642
    @siahiongngie642 3 роки тому +2

    You are just wonderful !

  • @karlkerr7348
    @karlkerr7348 3 роки тому +1

    It should be a default legal requirement that All public facing employees are vetted.

  • @simplycrypto1021
    @simplycrypto1021 3 роки тому +3

    Thanks!

  • @truxedc8351
    @truxedc8351 3 роки тому

    Hurricane Ida victims are given vouchers to live in hotels, however they are required to pay the 4..45% hotel taxes on the room.

    • @gannibalof21st
      @gannibalof21st 3 роки тому

      And Fema will buy out homes in the affluent areas and not lift a finger for those that really needs the help. Same story different natural disaster. That's your facist government.

  • @tomislavkefecek4443
    @tomislavkefecek4443 3 роки тому +3

    Keep telling them, I hope more people subscribe to your channel, particularly US citizens because there needs to be some sanity and rational discourse.

  • @georgegates526
    @georgegates526 3 роки тому

    Boats don't do anything for the climate. Were talking gallons to the mile folks! They say that you might get 30miles to a tank of gas. The tanks are big. And it's hard to give an exact number of gallons to the mile, because of many variations: How fast are you going and how heavy is the ship? Wind, people , waves, currents,etc.
    Really big: A huge freighter has to start stopping 1-3 miles before it reaches the coast. The diesel fuel it uses is unbelievable.

  • @spanky7277
    @spanky7277 3 роки тому

    If You qualify !!!!

  • @anthonyanth8368
    @anthonyanth8368 3 роки тому +3

    Love from Zimbabwe

  • @anhedonic-voting
    @anhedonic-voting 3 роки тому

    Thank you✊🌹🗽🇺🇲

  • @mobyfrancke1241
    @mobyfrancke1241 3 роки тому

    Thanks 😊 I’ll

  • @bradwells4129
    @bradwells4129 3 роки тому

    That Adhd medicine in New Zealand would be 5 dollars for a month or 5 dollars for three months depending if they allow a 3 month script or a month one

  • @stevehartman1730
    @stevehartman1730 Рік тому

    I'd rather have one good poor friend than a room full of rich ones.

  • @thomaswikstrand8397
    @thomaswikstrand8397 3 роки тому +3

    Haven't seen the video yet, but dang, that intro music is just fantastic, always gets me pumped 😅

  • @daviddreyer7196
    @daviddreyer7196 3 роки тому +1

    My oldest brother drives for lift at 76 years old.🚘

  • @Mellowcanuck33
    @Mellowcanuck33 3 роки тому +1

    So, they pay for silence, then ask for the price to be reduced? Wow.

  • @RaffaellaIT
    @RaffaellaIT 3 роки тому

    In Italy, we do have health care free for everyone ( of course, we pay that with our yearly taxes), but . unfortunately, it is getting more and more privatized, even though, during the pandemic, the public health care system did much much better.

  • @zactianne6331
    @zactianne6331 3 роки тому

    Is the windmill getting any weaker, Prof. Wolff?

  • @rodb66
    @rodb66 Рік тому

    There seems to be no assistance for families making 50K or less without small kids. The government can bail out big corporations and banks but not the citizens in need. We have billionaires pushed in our faces constantly while some of us find ourselves going from middle class to working class working these low paying jobs.

  • @naavasoong1835
    @naavasoong1835 3 роки тому +1

    Namaste! I am very grateful for your explanations namaste. I don’t always keep up with you so my question may be out in left field. I am trying to get in step with Dr. Eifrig’s Coming Financial Lockdown b/c it seems quite important to consider. Could you comment on this?

  • @scottclute7443
    @scottclute7443 3 роки тому +1

    Am way too broke to ever consider that..

  • @scottclute7443
    @scottclute7443 3 роки тому +1

    Not into risky investing.

  • @son-of-the-republic3723
    @son-of-the-republic3723 3 роки тому

    Every hyperinflation has taken place in a socialist or totalitarian society. There cannot be a hyperinflation with free market money (gold/silver).
    There is a 100% failure rate of non-commodity currency. As a professor of economics, you would think Wolff would understand this.

  • @muovi2463
    @muovi2463 3 роки тому

    20:35 Rm Brown gang where you at

  • @petersepall2590
    @petersepall2590 3 роки тому +14

    Excessive wealth causes excessive self delusion and gives people the power and means to entrench those delusions as social norms and mores in others.

    • @jgalt308
      @jgalt308 3 роки тому

      You mean like those robber barons...who seek to eliminate the competition so that they can raise prices and
      increase profits???
      If that is TRUE...why did the price of oil decrease from $16/$12/ barrel to $1./barrel in 1879 and stay there???
      And why did a corresponding drop in prices occur in every industry supposedly "controlled" by these "robber barons"?
      Doesn't it just really irritate you when the facts totally contradict what you have "believed to be true"?
      Now the next question is...to whom are you going to assign the responsibility for your general state of ignorance?

    • @jake4024
      @jake4024 3 роки тому +1

      @@jgalt308 you are Wrong oil never dropped that low, you need to do more research.

    • @zoomzoom3950
      @zoomzoom3950 3 роки тому

      you sound envious.

    • @jgalt308
      @jgalt308 3 роки тому

      @@jake4024 Ah, what a powerful argument..."No, it didn't."...you gotta love it.
      Decade Year-0 Year-1 Year-2 Year-3 Year-4 Year-5 Year-6 Year-7 Year-8 Year-9
      1850's 16.00
      1860's 9.59 0.49 1.05 3.15 8.06 6.59 3.74 2.41 3.62 5.64
      1870's 3.86 4.34 3.64 1.83 1.17 1.35 2.52 2.38 1.17 0.86
      1880's 0.94 0.92 0.78 1.10 0.85 0.88 0.71 0.67 0.65 0.77
      1890's 0.77 0.56 0.51 0.60 0.72 1.09 0.96 0.68 0.80 1.13
      1900's 1.19 0.96 0.80 0.94 0.86 0.62 0.73 0.72 0.72 0.70
      1910's 0.61 0.61 0.74 0.95 0.81 0.64 1.10 1.56 1.98 2.01
      1920's 3.07 1.73 1.61 1.34 1.43 1.68 1.88 1.30 1.17 1.27
      1930's 1.19 0.65 0.87 0.67 1.00 0.97 1.09 1.18 1.13 1.02
      1940's 1.02 1.14 1.19 1.20 1.21 1.22 1.41 1.93 2.60 2.54
      1950's 2.51 2.53 2.53 2.68 2.78 2.77 2.79 3.09 3.01 2.90
      1960's 2.88 2.89 2.90 2.89 2.88 2.86 2.88 2.92 2.94 3.09
      1970's 3.18 3.39 3.39 3.89 6.87 7.67 8.19 8.57 9.00 12.64
      1980's 21.59 31.77 28.52 26.19 25.88 24.09 12.51 15.40 12.58 15.86
      1990's 20.03 16.54 15.99 14.25 13.19 14.62 18.46 17.23 10.87 15.56
      2000's 26.72 21.84 22.51 27.56 36.77 50.28 59.69 66.52 94.04 56.35
      2010's 74.71 95.73 94.52 95.99 87.39 44.39 38.29 48.05 61.40 55.59
      2020's 36.86
      www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=f000000__3&f=a
      Now, you were saying???????

    • @jake4024
      @jake4024 3 роки тому +1

      @@jgalt308 Thats the data for (First purchase oil) physical removal of the crude oil from a property (lease) for the first time. The real market price that consumers were paying was way higher. These prices show what oil Barron’s were paying seems like they made a fortune buying oil for so cheap.

  • @suzannesloan1667
    @suzannesloan1667 3 роки тому +10

    every pound is a seedling, invest your seedling to creat a tree,re-invest your seedling to creat a forest. to become rich you must value savings more than spending

    • @gabrielphillip640
      @gabrielphillip640 3 роки тому +1

      most people remain poor only because of the negative advice received from friends and family members against investing while the wise invest and grow

    • @henrygerald2745
      @henrygerald2745 3 роки тому

      don't see bitcoin investment as a risk in every success there is always a risk,the ability to take those risks makes you successful.when a business opportunity is brought acknowledge it because they have reasons coming to you

    • @fredrobbert795
      @fredrobbert795 3 роки тому

      in order not to make losses trading bitcoin or trading in forex market using the assistance of a broker would be highly recommended

    • @emilyamber6266
      @emilyamber6266 3 роки тому

      that's true I've been making losses trying to trade on my own. I'd like to get in touch with a perfect broker.

    • @tonynigan2523
      @tonynigan2523 3 роки тому

      @@emilyamber6266 there's no such word as a perfect broker.the problem here is getting a genuine broker that understands trading formalities.

  • @sebsfintechchannel5775
    @sebsfintechchannel5775 3 роки тому +18

    I think this pandemic has taught people the importance of multiple streams of income, unfortunately having a job doesn't mean security rather having different investments is the real deal.

    • @ruthjohnson3534
      @ruthjohnson3534 3 роки тому

      I started trading with Tom Cruz as the pandemic lockdown increased, which greatly affected the economy

    • @jamesfranco9360
      @jamesfranco9360 3 роки тому

      His trading signals and strategy has been useful even to me as an old trader and mostly newbies out there.... I'm still earning daily and growing my wallet monthly with expert Tom Cruz's daily signals.

    • @benjaminlucas6230
      @benjaminlucas6230 3 роки тому +1

      I've heard a fair level of experience trading for sometime now but decided to reach out to Mr Tom Cruz's signals and felt like i new nothing all this while, his accuracy is outstanding.

    • @ethannoah1320
      @ethannoah1320 3 роки тому +1

      Expert Tom Cruz has been managing my trade for months and I keep making profits weekly, made $9,350 last week

    • @viviankelvin4939
      @viviankelvin4939 3 роки тому +1

      Heard so many great reviews about Tom Cruz and decided to Google him and I was able to see that he is a registered trader, cause I don't believe anything I see online but I'm definitely shocked that he is real, how do I reach him please ?

  • @Samsgarden
    @Samsgarden 3 роки тому

    There simply is no place for outmoded arguments on capitalism vs socialism anymore. Game theory is a problem related to scarcity, not economic systems.

  • @darthjarjarbinkstherealsit6832
    @darthjarjarbinkstherealsit6832 3 роки тому +3

    Feed the algorithm

  • @ZambeziKid
    @ZambeziKid 3 роки тому

    why didnt I get an invite on the cruise? :(

  • @mooooo6601
    @mooooo6601 3 роки тому

    Lovely

  • @BBBarua
    @BBBarua 3 роки тому +1

    Your BOSS loves to have more control over the terms over you. The BOSS loves to have recurring revenue with the system and process in place to let you generate those lovely recurring revenue. Now it is even easier to squeeze all the productivity out of you by placing sensors and cameras to get the last drop out of you. Yes, all the CEO have their money-making goals tie to their large bonus packages. But for the ordinary worker like you and me, not so much. BOSS will say no, it is not about the money. "WORKERS" loves to get recognition and having better equipment to be excited and happy at work. That's funny! They honestly don't believe that workers are not worthy of any amount of extra money other than their wages. My question to them is, Let's say if you, the CEO comes up with your plans and metrics KPI, are those performance goals achieved by themselves or by that CEO's ability alone? NO! The employee carries out the work, and managers motivate their workers to go above and beyond. Employees carry out those executions. Therefore, why do these CEOs think that all those "GOALS" come out of their ability? That's a very shameful act!

  • @treefrog3349
    @treefrog3349 3 роки тому

    The false dichotomy of Government VS. the People is the "elephant in the room" here. WE THE PEOPLE are the Government. Our "representatives" on Capitol Hill are just that - representatives, spokespersons for the collective well-being of this Country and our society. Instead they are the equivalent of "deadbeat parents" where the father drinks to much and the mother likes to gamble while the children go hungry. Please, Professor Wolff, please speak to that issue.

  • @thosewhohaveearstohear....3838
    @thosewhohaveearstohear....3838 3 роки тому

    Yet. . . . who is going to challenge the banking and investment money changers.

  • @outwiththem
    @outwiththem 3 роки тому

    Undertaxed rich managers and owners.. Easy to see all the boats and expensive houses, cars and airplanes all over..

  • @karlkerr7348
    @karlkerr7348 3 роки тому

    It won't be free for long in UK if US corporations get their hands on NHS!

  • @patbranigan6501
    @patbranigan6501 3 роки тому +10

    yes Inflation may be a t 5% which I believe is understated. Food inflation is 30% and you cannot live without food. You can live without cars. Housing inflation is abut 15% just for 2021. But rentals are pretty much frozen for now what will happen when that freeze ends? People cannot really live without some shelter. Not sure about the tent market inflation. Clothing up 4.9% So on the main things people need is that really only 5% inflation?

    • @ProleDaddy
      @ProleDaddy 3 роки тому +2

      That's exactly what I've been thinking. The increasing cost of housing, one would think should be included.

  • @josiahsuarez
    @josiahsuarez 2 роки тому

    shocking story about uber D:

  • @shainowen2520
    @shainowen2520 3 роки тому +1

    Agree Dr. Wolfe

  • @Mellowcanuck33
    @Mellowcanuck33 3 роки тому

    There will be some dark dark arts going on, on that boat.

  • @marygarrapa3537
    @marygarrapa3537 3 роки тому +2

    In Italy also having a baby costs nothing nor does paediatric care. In France the mother gets after birth therapy to get her birthgiving muscles back in tone also free as part of after birth care.