This is what you get when you have open discussion based on facts. Well done Julianna and Professor Wolff for producing what I think helps people see what is going on and to help rectify an appalling situation. Long may you continue.
Cuzz is intellectual trash. He can complain but offers no actual support. He is simply an idiot Communist critic....and again he has not one solution this because Communisms only solution is intellectual, economic slavery.
He fails miserably to mention the fact in 100plus countries where Communism has been applied are a miserable mess. Those that appear to succeed are and have applied capitalism. And they are this way until they try to reapply socialism and or Communism. His greatest desire is to reduce all humanity to a state of mindless control and slavery. Wake up folks is this what want...check Poland and Austria.
@@ianandrews6890 you can call it pessimistic but I'll call him a realistic and honest human being. I've lived my whole life under a capitalist economy and no one can tell me that it works. I work 60+ hours a week in construction and I've done it for over a decade and I'm still poor. Plus so much has come out (studies and evidence) that capitalism sucks.
@@patriciafichter1991 -- Regular workers have had their wages STOLEN from them, over their lifetimes, so that a few people get to be ridiculously wealthy. AND, somehow, we've managed to convince ourselves that this is normal. That's bad enough. Now, add the fact that we're ostracized from examining other ways that work more fairly (in most political circles, you don't dare mention the word, "Marxism"), and you have the kind of greed which ranks as evil.
This has to be one of the very best discussions that Professor Wolff has had anywhere. His intelligence, wisdom, experience and passion is on full display in this discussion. Everyone should be listening very attentively to what the professor shares with us.
Wolff sounds better and better every year. His talking points are getting more pointed and significant. His sharing of critical reality is better to open eyes and minds. What he talks about may not be his own. But he is reflecting on his years of knowledge, incites, and experiences. That give a honest look at what the realities are.
Which makes him dangerous to the status quo. Been noticing a sharp uptick in RW propagandist trolls in the comments of his _Democracy At Work_ videos lately.
Mark Mahan -- Well said, and I agree completely. This is one of the best interviews of Wolff that I've watched in some time. He is a master of communication. The "Sex" analogy was right on, describing how taboo it is to even broach the subject of Marxism in this country. Take care & be well.
@@Newton14alan How is Marxism taboo in this country? It's all over college campuses and most college professors identify as Marxists and it's not exactly a secret.
I enjoy seeing the professor on the many Y-T channels where he is interviewed regularly, and I really like it when he's with Julianna because they have a good chemistry together. In my view, we've passed the tipping point already, and are in slow-motion snowball roll down the mountainside.
When you say you are on the downward slope, can you explain what you mean, and do you see America now very much turning to the left and to democratic socialism, and being Scottish, were we have had socialism. In Scotland, there is a famous saying, famous to Scots, that in Glasgow, election counters used to WEIGH the LABOUR (democratic socialist) party votes, so I know socialism is NOTHING to fear and it most certainly is not even close to communism. It was socialism which gave us in Britain, invented by a Welshman, Aneurin Bevan, Labour MP, the greatest example of socialism ever invented, the NHS, where we pay a SMALL, TINY tax called national insurance, which is taken out of our pay packets before we lay our hands on our wages, and it is so small we do not even notice that money is gone, because it is factored in already when we negotiate our wages. For that we get FREE ambulances, FREE hospital stays, no matter how long they are, FREE prescription glasses, FREE prescriptions, FREE medicines, FREE GP visits and FREE dental treatment. There are possibly another couple of things we get for that small tax, but everything in our NHS is FREE AT THE POINT OF NEED/POINT OF USE. Now, I challenge anyone to label that as communism. Socialism is simply a system which prioritises looking after and keeping safe and healthy, the poorest and most vulnerable people in the community and economy, focussing particularly on the sick and disabled, so no-one ever lives in fear of homelessness or starvation or whatever. I have to say I am LOVING seeing the changes happening in the US and am cheering you on all the way, and, finally, as a Scottish person, and we Scots LOVE fair and equal JUSTICE, NOT REVENGE, JUSTICE, I am cheering on your law enforcement agencies in their pursuit of Trump. I would love to see him in jail, rather than his followers, henchmen and supporters. It is time he paid the consequences for his crimes.
@@nicolakirton2252 Just one corrective to your description of socialism: it is a Universal system, meaning that it serves Everyone equally, not just the poor and needy. This makes it far easier to accept by those better off who will naturally contribute more in taxes. No means testing where they risk getting left out, or feeling they have to pay both for themselves And 'those deadbeats'. A universal system is also the most cost effective with its economies of scale.
@@cathjj840 -- You're right. Targeted "entitlements" never work. The billionaires get resentful. Then, again, if the "field" were leveled, most "entitlements" wouldn't be necessary to begin with. The "better off" are fine with Socialism as long as it's CORPORATE Socialism.
Prof. Wolff, as always, shares his vast knowledge of how economics affects our day-to-day lives. I still remember sitting in my high school government class 34 years ago learning about the different economies. The info about Socialism was merely a paragraph or two but I was blown away! I remember raising my hand 🤚 and asking my teacher why every country didn’t practice this philosophy? A system that makes sure no one goes without is surely perfect, right? My teacher was clearly amused but certainly was not able or willing to discuss this with me on any deep level. My parents were not educated and politics was not a topic that we discussed. They both worked several jobs just to put food on our table. There was no time to care about much else. So I graduated and fell in line with the only two choices our country offered. What a shame that our news & education are filled with propaganda and rhetoric. I left the US in 2018 with no plans to return. I sadly watch our country implode.
I feel the same way Tonia Brauer and often over the last 5 years have thought about leaving the US. The only thing holding me here are my daughters and my grandchildren.
You lucky thing! My Economics teacher took the class to hear a lecture given by Milton Friedman! And yeah I thought I could see flaws in the logic, but my best mate derided my critique. And he must have been right, cos not too many years later he got a 1st Class Degree in Politics and Economics! (I decided people were much more interesting than number crunching, but found out too late just how central Statistics are when studying Psychology...)
You didn't invent Marxist or socialist but you are one of the only people telling us the truth. So we are truly grateful on the honesty. We love you Richard Wolff. Well I do anyways😍
Very interesting Richard Wolff mentioned that HSBC have now said that they are pivoting towards China, for obvious reasons. However, as a Scottish person, I have to say that Richard Wolff is absolutely spot on, he hit the bullseye, when he described what is going on with the British, although, of course, he would not realise to make this distinction, he is really describing the ENGLISH, who are still suffering the delusion that they still have some sort of remnants of an empire left. That is not a delusion that is associated with we Scots or the Welsh, it is purely and definitely only an ENGLISH delusion.
Indeed. From my position on the outside (fellow Euro side), it would behoove you Scots to reclaim your independence ASAP. Westminster have already been fleecing you forever and its high time to go before they take you down completely with them. Btw, HSBC was Hong Kong and Shanghai Banking Corporation, so it's only natural they return to their roots (part Asian and all predatory capitalism).
Clicked right on to hear this intelligent perspective of what happened in TX. It's infuriating to see those in power imploding on themselves and taking us with them, while we are presented with unscrupulous propaganda. Thank you Prof. Wolff!
23:27 For about a day and a half the power had been threatening to go out, blinking dozens of times but it somehow held. Then I wake up to my battery back up power system screaming at me. The only thing in the room that has any light was a little 2" wide by 1" high 16 digit display saying [power out] Well No Shit! According to the clock that can read indoor/outdoor temperatures and updates itself through a specific radio frequency. It read interior temperature 24°, outside -1°, time 3:43 a.m. . I had often wondered if the clock could read temperatures that low. Thinking to myself, "I really don't want to find out." Well now I know for a fact it can read -1°. The only things I had was a lantern, emergency AM/FM Weather band radio and some candles. Why so little, because I didn't think I would need it. The last little snow storm we had in January 2021 was nothing, It was breeze. This m************ storm was anything but a breeze. I had been able to drip the lines with no problem. But then it got so cold that the drain froze in the water backed up into the sinks, bathtub so to turn the water off. The water supply coming into the washer blew the hot and the cold sides. When the water unfrozen it was a mad scramble to turn the water off. Water everywhere! Since we've got a nice day ahead I've got fands set up drying everything out as much as I can as quick as I can before the mold sets up. I do not ever want to see temperatures that cold again inside my house. The irony is the average cold temperature for February is about 24° outside NOT inside!😵 I won't whoever's responsible for this f****** to be fired and never allowed to work in the electric industry again!
It was an unprecedented (“once in two centuries”) snow storm that few areas would have been prepared for. It’s always in hindsight that such infrastructure changes are made. Very liberal Whatcom county in WA had a situation about 17 years ago where expensive snow trucks were sold off due to maintenance costs and the rarity of snow. The next year was a once in a century blizzard. Oops!
Of course you're going to find mistakes here and there, but did Whatcom county get caught twice without snow trucks? Texas had a problem a decade ago just like this. They had the knowledge about what was wrong but refused to set down regulation which would have averted this disaster.
12:31 You do understand there will be a second Civil War it is inevitable. And thanks to what happened on January 6th we now have an idea of what that might look like.
I think prof. wolff has a contemp reserve that most will never approach, imo. Wind him up, watch him go. Even though I know it's coming, he still fires me up. Well done, carry on please.
Another great post with Julianna and the prof. What is interesting about propergander is not just the lies that are told but also the information that is withheld.
I live in Texas. I literally almost froze to death when my heater went off due to free-market electrical grid failure. Others did freeze to death sadly.
It wasn't the free market that caused the disaster in Texas, it was obama. You see, obama signed an executive order mandating that pumps on natural gas pipelines be switched from being powered natural gas to electric powered pumps. With an electric grid failure, the natural gas piplines failed due to the electric pumps. That is why Texas couldn't fire up their natural gas generators.
The weather is cyclical not linear. I’m still to see any weather or fires that I haven’t been seeing around the world and in the area I grew up, all my life. There has always been extreme weather. And I’ve got as many decades behind me as this Prof. Wolf. Also physicists not on the climate change money chain, will tell you the earth constantly goes through mini warming and cooling periods, Some last a few decades some last a couple of centuries.
Professor and Julianna, what do you think about Nevada kicking out their Democratic leadership for progressives? I hear the Dems all quit, do you think that could be a beneficial sign? Do you think it could be duplicated in other states? I am still researching it further, but your insight is very valuable to me. I am simply looking for HOPE and ACTION to participate in that will bring us good trouble and good changes. Thanks
Another historic connection is the Santa Fe Railway, now BNSF Ry owned by Warren Buffet. Col. Cyrus K. Holiday started building the Atchison, Topeka & Santa Fe in order to ship grain and meat to Asia back in 1868.
Do you see UBI unconditional basic income in the same light as the state paying for minimum wage? And what stops massive tax increases on business especially large corporations paying?
if I lived in Texas right now, I would leave. personally, I think everybody that has a brain in their head should leave Texas, at least temporarily. there would be no way any of those people would be getting a tax dollar out of me! I also think we should cut off all federal financial aid to Texas. I feel for the good people that are in Texas but there's too many bad people and it's too deep. Texas has never learned its lesson and it's about time it did.
Yeah they don’t want the federal government or anybody telling them what to do. Then when the shit hits the fan because of complete deregulation and lack of safe infrastructure their begging for a federal bailout!
@@erikkovacs3097 the operative word there is "they". the "they" you're referring to are irrelevant. and then a scary sort of way making themselves more irrelevant every day. that gaudy golden statue of trump....🤣.. it's almost like y'all just don't care how blasphemous that is! also weak-minded hypocritical and pretty much just gross.
@@intuitionz1198 By "they" I mean the huge migration moving to Texas for jobs and a lower cost of living. You do realize that that golden statue was a troll right? Kind of like calling him God-Emperor when he was elected, an homage to Warhammer 40,000. And who's y'all? I had nothing to do with it.
And I'll add: The "market" is a system of economic exchanges that is driven by psychology, not objective rational decisions or "free" choices. The psychological is only relatively rational, therefore largely counter-intuitive. We are indoctrinated to see our behaviors as approaching the rational, but are actually conditioned by immediate circumstances -- hence classical response-stimulus conditioning as refined by modern advertising. The rest is low wages and cheap credit.... Great stuff, here.
Does Prof Wolff have any French Huguenot relative connection? Or Rippeteau family ancestors? Brilliant down to earth ideas. I joke that my ancestors, on both sides, got kicked out of France more than two centuries ago. Thanks, Steve Rippeteau, Woodburn, OR.
On Chinese influence in everyday life: look at agriculture. For years, China has been buying farmland all around the world, including in the US, on a massive and accelerating scale. (This is often done through front companies to get around local ownership laws.) I believe the 'American' pork industry (with its despicable practices) is largely in Chinese hands and furnishes both the domestic and Chinese markets. Remember, monopolies and quasi-monopolies can control (restrict) access to essential goods. People get het about about Latin American plant pickers when it's international capitalists and the Chinese state that are the ones to watch out for.
@@Jj-gi2uv there are multiple factions of influence going on. For example, the pharmaceutical and healthcare companies was to utilize the cheap manufacturing for medicine and medical products, so they influence the politicians to set up free trade agreements and suspend or refuse to enforce regulations that are supposed to restrict foreign investment. The consolidation is a natural result of unregulated capitalism
my mother and father fought socialism in ww2. there is nothing wrong with our country and capitalism. provided we get the greedy crooks out of it. no conglomerates.
Isn't Texas one of the few places that have an Energy Coop group? If you haven't heard of it it's Texas-EC or Texas Electric Cooperatives Group. If you guys have experience with them, what do you think of them?
We have too much capitalism. Since 1979 wages stagnated and public funding has decreased. While at the same time, the top 10% saw a huge increase in their wealth.
The US is headed to Fascism to compete with the Chinese model of top-down management of the people using a social credit system “Germany was the dress rehearsal for the United States.”
An important point to add to Prof. Wolff's description of the power companies that are owned by a tiny elite while the customers and the employees of the power company are the other blocks that benefit from the "product" of the company is this: where power companies are concerned, the people that work FOR the company are ALSO customers OF the company. Maybe he mentions that later in the video, but I am about halfway through and he has not mentioned it yet. This seems to be a very important dynamic that sets power companies apart from alot of other industries
The 1% never learn , the more they take from everyone else, the more angry people are going to get, the more dangerous things will get for the wealthiest people
19:11 Before Texas deregulated its power system it had six major power generators and a few minor ones. Those companies were geographically locked. East Texas had TXu. I remember rates being 16 cents per kilowatt hour. And TXU was merciles with billing. And then the state deregulated. I left TXU as quick as I could. And now I'm stuck with this POS company called gexa energy. But come May 2022 I am out of there. Then I'll be leaving again and look for a better rates and let's assWholeary. The best way I can describe the utility companies in Texas, predatorial. I tell everybody don't move to Texas this state is a s*** hole.
Dude, swell your ego bro, Wolff youre a badace!! Thanks Wolff, whenever I'm not thrashing overhead blowers ima tryna learn from you on account of you spill it when you spit bosss!
Your Marxist ideas were old at the time of Marx and in the West could be traced back to Sparta and at least to the English Civil War, the American and French Revolutions. The basic ideal of Equality is a foundation of the United States has been a goal since at least the establishment of communities in the west. Democracy, a system enshrining the ideals of equality. observes the independence of the individuals. Blending these principals has been a very difficult tasks with many failures on the way. There are parts of the human race that see it as a race, and others see it a cooperation, and many fall between the two, while most for a variety of reasons admire the winners, yet many are perfectly happy to play on the team, and a few who are just as convinced that their vision of who they would like to be represents the so called “normal” view, so they do not even recognize how their own personal judgments can unbalance the whole. Thus so many conflicts can be understood. The first great successful "Socialist or Communist" revolution in the West occurred in the late eighteenth century in North America and was called the American Revolution, Thse afterwards only used those names over a half century later. Much of the history of the causes f the successful Aerican Revolution has been hidden by academia since about the time of Andrew Carnegie in the late 19th Century and the days of Child Labor and early Union Busting, by ignoring the fact and parts of the Constitution and Original Articles of Confederation as if they never were. www.amazon.com/Cornerstone-Brief-Forgotten-American-Revolution/dp/1517257530?fbclid=IwAR2fnazKx65XeMSe3YuGzTj8qz4DLymJVHQzi9Uu9FAfo2pOhwu3eUXjs4Q#reader_1517257530 The reviews are all screwed up. Amazon refused to print a five star review because she did not buy the biik bt used a copy I provided. Yet Amazon allowed the writer of the first review to publish before he even read the book. Later he read the book and retracted the criticism that I did not know how to do historical research, but just did not like my opinions. The war for truth goes on. Do we have any support. The Ideas in the Cornerstone Brief are timeless. But it has never received wide distribution o9r notice, despite its inexpensive format. It came under attack from the moment it was first published by q supposed history expert who had not even read the book and accused me of several things including of not doing historic research. He had to withdraw that when I forced him to read the book. But still down rated it. I am tired of the false narratives of the Media and our current educational institutions that imply that this nation was founded on "Capitalism" and all governments are bad and they lead to and are expression of socialism and communism as if these use of these names make all progressives bad.. This nation was founded on equity, as far as it could be understood at the time, and was prohibited from using state and federal power to advance any single person, family or groups of persons. Thanks to Citizen' United and similar cases, it is now clearly recognized that persons, as the word is understood in the law, includes corporations. The shell game “power players” try to avoid this conclusion that the US was funded on the legal bases of equity, is by saying that such ideas were merely lofty ideas in the Declaration of Independence with no legal effect, Thus they are ignoring the fact that they have been part of our basic constitutions since the beginning of the nation with a constitution. They are part of our basic law and these cries of socialism and communism have no place in our politics as we are really committed to community action preserving some independence. True progressives must understand this to make inroads against the fascist tendencies that prevail today in our politics. But most have never learned, or forgotten our true history. The 13th and 14th amendments tried to establish a minimum of equality that would be tolerated by the ruling classes.. The original constitutions established, by law, a maximum (yet to be established) on inequality of wealth and power that would be allowed under our government. This was one of the two most important reasons for the American Revolution, one not taught since the loss of control over out educational systems.. Hence here is one central motivating force, one of the basic reasons, to disestablish our current constitution and left and right wars on all of our governments. I was fascinated in watching AlphaGo at how far AI has progressed to defeat the world champion Go player. One of the biggest problems in bringing about more economic equality will be the methods of wealth transfer and I suggest that this is a study that could well occupy the next quarter of a century in AI development This has been the Achilles heal of many socialist and communist systems even though the goals revolve around this dream. tionto the English civio war and Americn Revoluxist ideas were very ole by the tue 9f Mar. All he added was some math. In the West we coud -rbably trace them back to Sparta. But easily back
Professor doesn’t mention that windmills were frozen and so were the solar panels. The only power at all came from coal power stations. In fact they cranked a couple of unused coal stations up to generate at least some power. The greens need to get it into their heads that you don’t just bring in windmills and solar, you keep a couple of coal or gas stations in case of bad weather. We need both. In good weather the renewables are great, in bad weather,the coal stations and gas can be bought online. That way we get the best of both worlds. Those windmills kill a million birds a year, especially big birds like eagles. That study was done in Germany.
"HSBC announces a pivotal to Asia." Well, Hong Kong Bank of China is already about as Asian as you can get. (With outreach into the West.) China's "economic miracle" is unsustainable. Pollution is at catastrophic levels and climate change is wrecking havoc on agricultural production. Five more years of crop failure due to massive flooding and China will be forced to invade the neighbors to secure food production for over a billion people.Not to mention civil unrest and a serious factional divide within the CCP itself. I live in Asia. A big market isn't everything.
Whats going to happen is capitalism is going to have to abandon Americans before we will see the light. It will have to hollow our most of our cities like they already have done to places like Chicago Camden New Jersey Pittsburgh... at that point the people will be left to fend for themselves. The dollar will be useless by then and we will have to start co-ops with each other around our country and together oullputselves up by the bootstraps
Don’t you realise that the owners of the factories took them over to China to take advantage of cheaper wages thus giving them a greater profit. The factory owners are the same people who owned them in the USA. If China demands higher wages for their workers the factory owners will move onto another country so that they will be able to exploit the workers there and pay them minimum wages. You need to be angry with the factory owners not China.
This is what you get when you have open discussion based on facts. Well done Julianna and Professor Wolff for producing what I think helps people see what is going on and to help rectify an appalling situation. Long may you continue.
Thank you Julianna for once again having Prof. Wolff on the show. He is so clear and concise about what is going on and what needs to change.
Cuzz is intellectual trash. He can complain but offers no actual support. He is simply an idiot Communist critic....and again he has not one solution this because Communisms only solution is intellectual, economic slavery.
He fails miserably to mention the fact in 100plus countries where Communism has been applied are a miserable mess. Those that appear to succeed are and have applied capitalism. And they are this way until they try to reapply socialism and or Communism. His greatest desire is to reduce all humanity to a state of mindless control and slavery. Wake up folks is this what want...check Poland and Austria.
Prof. Wolff as usual brings his knowledge, intelligence & wisdom to the disaster that happened in Texas. Thank you for having him on.
💓
He's a "Marxian economist" . Naturally , he's pessimistic on capitalism.
@@ianandrews6890 you can call it pessimistic but I'll call him a realistic and honest human being. I've lived my whole life under a capitalist economy and no one can tell me that it works. I work 60+ hours a week in construction and I've done it for over a decade and I'm still poor. Plus so much has come out (studies and evidence) that capitalism sucks.
Pro.chona was built up with cheapest migration workers
@@patriciafichter1991 -- Regular workers have had their wages STOLEN from them, over their lifetimes, so that a few people get to be ridiculously wealthy. AND, somehow, we've managed to convince ourselves that this is normal.
That's bad enough.
Now, add the fact that we're ostracized from examining other ways that work more fairly (in most political circles, you don't dare mention the word, "Marxism"), and you have the kind of greed which ranks as evil.
This has to be one of the very best discussions that Professor Wolff has had anywhere. His intelligence, wisdom, experience and passion is on full display in this discussion. Everyone should be listening very attentively to what the professor shares with us.
Wolff sounds better and better every year. His talking points are getting more pointed and significant. His sharing of critical reality is better to open eyes and minds. What he talks about may not be his own. But he is reflecting on his years of knowledge, incites, and experiences. That give a honest look at what the realities are.
Which makes him dangerous to the status quo. Been noticing a sharp uptick in RW propagandist trolls in the comments of his _Democracy At Work_ videos lately.
Mark Mahan -- Well said, and I agree completely. This is one of the best interviews of Wolff that I've watched in some time. He is a master of communication. The "Sex" analogy was right on, describing how taboo it is to even broach the subject of Marxism in this country.
Take care & be well.
That doesn't sound better than anything I've ever heard. Sorry, Mark, you're welcome to your opinions, but that one doesn't hack it.
@@Newton14alan How is Marxism taboo in this country? It's all over college campuses and most college professors identify as Marxists and it's not exactly a secret.
@@erikkovacs3097 --- I guess I'm coming from a different generation. `Glad to hear that Marxism is gaining some real acceptability.
Be well.
I have kept watching Professor Wolff's talks continuously for hours. This is one of the most intelligent talks domestically I have ever heard.
I enjoy seeing the professor on the many Y-T channels where he is interviewed regularly, and I really like it when he's with Julianna because they have a good chemistry together. In my view, we've passed the tipping point already, and are in slow-motion snowball roll down the mountainside.
Yup... 💣
When you say you are on the downward slope, can you explain what you mean, and do you see America now very much turning to the left and to democratic socialism, and being Scottish, were we have had socialism. In Scotland, there is a famous saying, famous to Scots, that in Glasgow, election counters used to WEIGH the LABOUR (democratic socialist) party votes, so I know socialism is NOTHING to fear and it most certainly is not even close to communism. It was socialism which gave us in Britain, invented by a Welshman, Aneurin Bevan, Labour MP, the greatest example of socialism ever invented, the NHS, where we pay a SMALL, TINY tax called national insurance, which is taken out of our pay packets before we lay our hands on our wages, and it is so small we do not even notice that money is gone, because it is factored in already when we negotiate our wages. For that we get FREE ambulances, FREE hospital stays, no matter how long they are, FREE prescription glasses, FREE prescriptions, FREE medicines, FREE GP visits and FREE dental treatment. There are possibly another couple of things we get for that small tax, but everything in our NHS is FREE AT THE POINT OF NEED/POINT OF USE. Now, I challenge anyone to label that as communism. Socialism is simply a system which prioritises looking after and keeping safe and healthy, the poorest and most vulnerable people in the community and economy, focussing particularly on the sick and disabled, so no-one ever lives in fear of homelessness or starvation or whatever. I have to say I am LOVING seeing the changes happening in the US and am cheering you on all the way, and, finally, as a Scottish person, and we Scots LOVE fair and equal JUSTICE, NOT REVENGE, JUSTICE, I am cheering on your law enforcement agencies in their pursuit of Trump. I would love to see him in jail, rather than his followers, henchmen and supporters. It is time he paid the consequences for his crimes.
@@nicolakirton2252 Just one corrective to your description of socialism: it is a Universal system, meaning that it serves Everyone equally, not just the poor and needy. This makes it far easier to accept by those better off who will naturally contribute more in taxes. No means testing where they risk getting left out, or feeling they have to pay both for themselves And 'those deadbeats'. A universal system is also the most cost effective with its economies of scale.
@@cathjj840 -- You're right. Targeted "entitlements" never work. The billionaires get resentful. Then, again, if the "field" were leveled, most "entitlements" wouldn't be necessary to begin with.
The "better off" are fine with Socialism as long as it's CORPORATE Socialism.
YES, DR WOLFF, I FIRST BECAME AWARE BY DR WOLFF OVER YOU TUBE, AND HAVE BEEN LEARNING AND RESEARCING EVERY SINCE!!!! THANK YOU!!!!
Prof. Wolff, as always, shares his vast knowledge of how economics affects our day-to-day lives.
I still remember sitting in my high school government class 34 years ago learning about the different economies. The info about Socialism was merely a paragraph or two but I was blown away! I remember raising my hand 🤚 and asking my teacher why every country didn’t practice this philosophy? A system that makes sure no one goes without is surely perfect, right? My teacher was clearly amused but certainly was not able or willing to discuss this with me on any deep level. My parents were not educated and politics was not a topic that we discussed. They both worked several jobs just to put food on our table. There was no time to care about much else. So I graduated and fell in line with the only two choices our country offered.
What a shame that our news & education are filled with propaganda and rhetoric. I left the US in 2018 with no plans to return. I sadly watch our country implode.
I feel the same way Tonia Brauer and often over the last 5 years have thought about leaving the US. The only thing holding me here are my daughters and my grandchildren.
You lucky thing! My Economics teacher took the class to hear a lecture given by Milton Friedman!
And yeah I thought I could see flaws in the logic, but my best mate derided my critique. And he must have been right, cos not too many years later he got a 1st Class Degree in Politics and Economics!
(I decided people were much more interesting than number crunching, but found out too late just how central Statistics are when studying Psychology...)
@@kcuzz4091 it is not an easy decision! I miss my Mom and siblings desperately. But...I could not stay.
@@NapaValleyVegan The only things I can suggest are to call frequently and come back to visit whenever possible. I'm sure they miss you as well.
@@kcuzz4091 the whole family video chats every week. One
good thing did come out of the COVID crisis!
The finest teacher...I always learn so much when this man speaks... 😊 Thanks again sir
You didn't invent Marxist or socialist but you are one of the only people telling us the truth. So we are truly grateful on the honesty. We love you Richard Wolff. Well I do anyways😍
Great conversation -- it's always a pleasure to see you both.
Very interesting Richard Wolff mentioned that HSBC have now said that they are pivoting towards China, for obvious reasons. However, as a Scottish person, I have to say that Richard Wolff is absolutely spot on, he hit the bullseye, when he described what is going on with the British, although, of course, he would not realise to make this distinction, he is really describing the ENGLISH, who are still suffering the delusion that they still have some sort of remnants of an empire left. That is not a delusion that is associated with we Scots or the Welsh, it is purely and definitely only an ENGLISH delusion.
Indeed. From my position on the outside (fellow Euro side), it would behoove you Scots to reclaim your independence ASAP. Westminster have already been fleecing you forever and its high time to go before they take you down completely with them.
Btw, HSBC was Hong Kong and Shanghai Banking Corporation, so it's only natural they return to their roots (part Asian and all predatory capitalism).
Omg so well said and so informative. Thank you so much.
Please keep up the good work.
Clicked right on to hear this intelligent perspective of what happened in TX. It's infuriating to see those in power imploding on themselves and taking us with them, while we are presented with unscrupulous propaganda. Thank you Prof. Wolff!
Love the professor!
Excellent show!
Professor Wolff always makes you think! That minimum wage idea of taking money from taxpayers is terrifying!
The main thing that needs to change is people's mind-sets.
That, and policy. Without a change in policy as well it’ll still be same ol’, same ol’ - or worse. I’m betting on worse.
glad for the longer discussion format Julianna ! "Liked"
Richard Wolf for president
Pro Wolff for president. Many many many American lifes will be much better off.
23:27
For about a day and a half the power had been threatening to go out, blinking dozens of times but it somehow held.
Then I wake up to my battery back up power system screaming at me.
The only thing in the room that has any light was a little 2" wide by 1" high 16 digit display saying
[power out] Well No Shit!
According to the clock that can read indoor/outdoor temperatures and updates itself through a specific radio frequency.
It read interior temperature 24°, outside -1°, time 3:43 a.m. .
I had often wondered if the clock could read temperatures that low. Thinking to myself, "I really don't want to find out."
Well now I know for a fact it can read -1°.
The only things I had was a lantern, emergency AM/FM Weather band radio and some candles.
Why so little, because I didn't think I would need it. The last little snow storm we had in January 2021 was nothing, It was breeze.
This m************ storm was anything but a breeze.
I had been able to drip the lines with no problem.
But then it got so cold that the drain froze in the water backed up into the sinks, bathtub so to turn the water off.
The water supply coming into the washer blew the hot and the cold sides.
When the water unfrozen it was a mad scramble to turn the water off.
Water everywhere!
Since we've got a nice day ahead I've got fands set up drying everything out as much as I can as quick as I can before the mold sets up.
I do not ever want to see temperatures that cold again inside my house.
The irony is the average cold temperature for February is about 24° outside NOT inside!😵
I won't whoever's responsible for this f****** to be fired and never allowed to work in the electric industry again!
From the UK thank you Prof wolf, truth to fact.
thank you for this program. thank you.
I love truth tellers, and Prof: Wolfe is one of them. Brilliant.
I am a rural resident in central TX and receive electric service through a co-op. The power is generated by the Brazos Electric Co-op.
Good move! - We need a lot more. In all industries and moving forward.
Honey, the monoplies have been screwing us for donkey years!
It was an unprecedented (“once in two centuries”) snow storm that few areas would have been prepared for. It’s always in hindsight that such infrastructure changes are made. Very liberal Whatcom county in WA had a situation about 17 years ago where expensive snow trucks were sold off due to maintenance costs and the rarity of snow. The next year was a once in a century blizzard. Oops!
Of course you're going to find mistakes here and there, but did Whatcom county get caught twice without snow trucks? Texas had a problem a decade ago just like this. They had the knowledge about what was wrong but refused to set down regulation which would have averted this disaster.
12:31
You do understand there will be a second Civil War it is inevitable.
And thanks to what happened on January 6th we now have an idea of what that might look like.
I think prof. wolff has a contemp reserve that most will never approach, imo. Wind him up, watch him go. Even though I know it's coming, he still fires me up. Well done, carry on please.
In the Philippines, the City/Province where Electricity/Water is sourced from has the first priority over it's use.
Windmills are great. We just have to minimize their effect on wildlife. Doable.
Batteries are not so great. We need to solve the storage problem fast.
That would be good to have the different programs every week on TV here so we know who is who in America !
Yes, we no longer have public service announcements on television. What gives?
Not only its own workers, but also all other countries being exploited in the world, are victims of the cash printers.
Oh God, can't we be done with this beast, Dr. Wolff??0--at long last.
Another great post with Julianna and the prof. What is interesting about propergander is not just the lies that are told but also the information that is withheld.
Brilliant!
God I hope this is the beginning of something good.
I live in Texas. I literally almost froze to death when my heater went off due to free-market electrical grid failure. Others did freeze to death sadly.
It wasn't the free market that caused the disaster in Texas, it was obama. You see, obama signed an executive order mandating that pumps on natural gas pipelines be switched from being powered natural gas to electric powered pumps. With an electric grid failure, the natural gas piplines failed due to the electric pumps.
That is why Texas couldn't fire up their natural gas generators.
They did the same thing in NJ
Amen.
Say on!
Wolff!!!
Hi professor,
Don't forget Puerto Rico and U.S. domination of out country.
The weather is cyclical not linear. I’m still to see any weather or fires that I haven’t been seeing around the world and in the area I grew up, all my life. There has always been extreme weather. And I’ve got as many decades behind me as this Prof. Wolf. Also physicists not on the climate change money chain, will tell you the earth constantly goes through mini warming and cooling periods, Some last a few decades some last a couple of centuries.
It is essential to focus on "why" capitalistic principles are not producing beneficial outcomes for most of us.
See "When the Levees Broke" by Spike Lee, USA is a failed state
Professor and Julianna, what do you think about Nevada kicking out their Democratic leadership for progressives? I hear the Dems all quit, do you think that could be a beneficial sign? Do you think it could be duplicated in other states? I am still researching it further, but your insight is very valuable to me. I am simply looking for HOPE and ACTION to participate in that will bring us good trouble and good changes. Thanks
Yet still a whole lot of people think we work part-time in the rice field lol
Another historic connection is the Santa Fe Railway, now BNSF Ry owned by Warren Buffet. Col. Cyrus K. Holiday started building the Atchison, Topeka & Santa Fe in order to ship grain and meat to Asia back in 1868.
well did the excuse of Sun Spot work?
Do you see UBI unconditional basic income in the same light as the state paying for minimum wage? And what stops massive tax increases on business especially large corporations paying?
These are voices of the future,said now
Don Quixote; tilting at windmills
if I lived in Texas right now, I would leave. personally, I think everybody that has a brain in their head should leave Texas, at least temporarily. there would be no way any of those people would be getting a tax dollar out of me! I also think we should cut off all federal financial aid to Texas. I feel for the good people that are in Texas but there's too many bad people and it's too deep. Texas has never learned its lesson and it's about time it did.
Yeah they don’t want the federal government or anybody telling them what to do. Then when the shit hits the fan because of complete deregulation and lack of safe infrastructure their begging for a federal bailout!
Most people disagree with you. They're still moving to Texas.
@@erikkovacs3097 the operative word there is "they". the "they" you're referring to are irrelevant. and then a scary sort of way making themselves more irrelevant every day. that gaudy golden statue of trump....🤣.. it's almost like y'all just don't care how blasphemous that is! also weak-minded hypocritical and pretty much just gross.
@@intuitionz1198 By "they" I mean the huge migration moving to Texas for jobs and a lower cost of living. You do realize that that golden statue was a troll right? Kind of like calling him God-Emperor when he was elected, an homage to Warhammer 40,000. And who's y'all? I had nothing to do with it.
I’m in Texas and I want a State Income Tax so that people would move away. No income tax attracts the wrong kind of people. Greedy people.
And I'll add: The "market" is a system of economic exchanges that is driven by psychology, not objective rational decisions or "free" choices. The psychological is only relatively rational, therefore largely counter-intuitive. We are indoctrinated to see our behaviors as approaching the rational, but are actually conditioned by immediate circumstances -- hence classical response-stimulus conditioning as refined by modern advertising. The rest is low wages and cheap credit.... Great stuff, here.
Does Prof Wolff have any French Huguenot relative connection? Or Rippeteau family ancestors? Brilliant down to earth ideas.
I joke that my ancestors, on both sides, got kicked out of France more than two centuries ago.
Thanks, Steve Rippeteau, Woodburn, OR.
Market failure.
the feudal lords all said they were not at a tipping point, they got the point in the end, in more ways than one.
The charade can’t end soon enough.
On Chinese influence in everyday life: look at agriculture. For years, China has been buying farmland all around the world, including in the US, on a massive and accelerating scale. (This is often done through front companies to get around local ownership laws.) I believe the 'American' pork industry (with its despicable practices) is largely in Chinese hands and furnishes both the domestic and Chinese markets. Remember, monopolies and quasi-monopolies can control (restrict) access to essential goods. People get het about about Latin American plant pickers when it's international capitalists and the Chinese state that are the ones to watch out for.
Those same corporate interests are also the reason for the farmers revolt in India
@@Jj-gi2uv there are multiple factions of influence going on. For example, the pharmaceutical and healthcare companies was to utilize the cheap manufacturing for medicine and medical products, so they influence the politicians to set up free trade agreements and suspend or refuse to enforce regulations that are supposed to restrict foreign investment.
The consolidation is a natural result of unregulated capitalism
And you think good old American cooperation are not buying up or gobbling up land and resources from other countries.??? America is the victim???
@@troutstalker4744 America is not buying land in other countries, it's bombing land in other countries.
@@Abitflippant That too.
my mother and father fought socialism in ww2. there is nothing wrong with our country and capitalism. provided we get the greedy crooks out of it. no conglomerates.
The removal of the fairness doctrine was the U.S.'s huge mistake.
The way out is through.
Nine inch nails
Julianna is a hot chick and Dr Wolff does his usual good job cutting through the BS to get to the real point.
Isn't Texas one of the few places that have an Energy Coop group? If you haven't heard of it it's Texas-EC or Texas Electric Cooperatives Group. If you guys have experience with them, what do you think of them?
We have too much capitalism. Since 1979 wages stagnated and public funding has decreased. While at the same time, the top 10% saw a huge increase in their wealth.
Australia has wage subsidies. So it isn't just a Republican thing. It's also a Liberal party thing.
The US is headed to Fascism to compete with the Chinese model of top-down management of the people using a social credit system
“Germany was the dress rehearsal for the United States.”
An important point to add to Prof. Wolff's description of the power companies that are owned by a tiny elite while the customers and the employees of the power company are the other blocks that benefit from the "product" of the company is this: where power companies are concerned, the people that work FOR the company are ALSO customers OF the company. Maybe he mentions that later in the video, but I am about halfway through and he has not mentioned it yet. This seems to be a very important dynamic that sets power companies apart from alot of other industries
TX lone star? Sell Texas to China...autocracy sure is fun..
The 1% never learn , the more they take from everyone else, the more angry people are going to get, the more dangerous things will get for the wealthiest people
That’s why you need Mr. Sanders next US socialist as President.
👍🏻!
🙏💕
19:11
Before Texas deregulated its power system it had six major power generators and a few minor ones. Those companies were geographically locked.
East Texas had TXu.
I remember rates being 16 cents per kilowatt hour.
And TXU was merciles with billing.
And then the state deregulated.
I left TXU as quick as I could.
And now I'm stuck with this POS company called gexa energy.
But come May 2022 I am out of there.
Then I'll be leaving again and look for a better rates and let's assWholeary.
The best way I can describe the utility companies in Texas, predatorial.
I tell everybody don't move to Texas this state is a s*** hole.
We don't have capitalism, and haven't had for decades, so don't blame it for what's wrong.
Try every 80 years, all systems
Americans vote for their politicians/party that serve Oligarch - United State of Oligarch
Dude, swell your ego bro, Wolff youre a badace!! Thanks Wolff, whenever I'm not thrashing overhead blowers ima tryna learn from you on account of you spill it when you spit bosss!
is an American Marxian "economist" known for his work on economic methodology and class analysis.
Read Revelation. Intensity, frequency and never before things seen in modern times.
Notice how all the disasters you list we're made worse by government intervention? So how is it a tipping point fur capitalism, rather than statism?
4th turning
......no.
Who says the British empire is over?
Lol
Cmon, you pick on Fox News when EVERY other media is liberal
You missed where he said "We don't have a reliable, independent source of news."
42:15 China on the rise 😯
Your Marxist ideas were old at the time of Marx and in the West could be traced back to Sparta and at least to the English Civil War, the American and French Revolutions. The basic ideal of Equality is a foundation of the United States has been a goal since at least the establishment of communities in the west. Democracy, a system enshrining the ideals of equality. observes the independence of the individuals. Blending these principals has been a very difficult tasks with many failures on the way. There are parts of the human race that see it as a race, and others see it a cooperation, and many fall between the two, while most for a variety of reasons admire the winners, yet many are perfectly happy to play on the team, and a few who are just as convinced that their vision of who they would like to be represents the so called “normal” view, so they do not even recognize how their own personal judgments can unbalance the whole. Thus so many conflicts can be understood.
The first great successful "Socialist or Communist" revolution in the West occurred in the late eighteenth century in North America and was called the American Revolution, Thse afterwards only used those names over a half century later. Much of the history of the causes f the successful Aerican Revolution has been hidden by academia since about the time of Andrew Carnegie in the late 19th Century and the days of Child Labor and early Union Busting, by ignoring the fact and parts of the Constitution and Original Articles of Confederation as if they never were. www.amazon.com/Cornerstone-Brief-Forgotten-American-Revolution/dp/1517257530?fbclid=IwAR2fnazKx65XeMSe3YuGzTj8qz4DLymJVHQzi9Uu9FAfo2pOhwu3eUXjs4Q#reader_1517257530 The reviews are all screwed up. Amazon refused to print a five star review because she did not buy the biik bt used a copy I provided. Yet Amazon allowed the writer of the first review to publish before he even read the book. Later he read the book and retracted the criticism that I did not know how to do historical research, but just did not like my opinions. The war for truth goes on.
Do we have any support. The Ideas in the Cornerstone Brief are timeless. But it has never received wide distribution o9r notice, despite its inexpensive format. It came under attack from the moment it was first published by q supposed history expert who had not even read the book and accused me of several things including of not doing historic research. He had to withdraw that when I forced him to read the book. But still down rated it.
I am tired of the false narratives of the Media and our current educational institutions that imply that this nation was founded on "Capitalism" and all governments are bad and they lead to and are expression of socialism and communism as if these use of these names make all progressives bad..
This nation was founded on equity, as far as it could be understood at the time, and was prohibited from using state and federal power to advance any single person, family or groups of persons. Thanks to Citizen' United and similar cases, it is now clearly recognized that persons, as the word is understood in the law, includes corporations.
The shell game “power players” try to avoid this conclusion that the US was funded on the legal bases of equity, is by saying that such ideas were merely lofty ideas in the Declaration of Independence with no legal effect, Thus they are ignoring the fact that they have been part of our basic constitutions since the beginning of the nation with a constitution. They are part of our basic law and these cries of socialism and communism have no place in our politics as we are really committed to community action preserving some independence. True progressives must understand this to make inroads against the fascist tendencies that prevail today in our politics. But most have never learned, or forgotten our true history.
The 13th and 14th amendments tried to establish a minimum of equality that would be tolerated by the ruling classes.. The original constitutions established, by law, a maximum (yet to be established) on inequality of wealth and power that would be allowed under our government. This was one of the two most important reasons for the American Revolution, one not taught since the loss of control over out educational systems.. Hence here is one central motivating force, one of the basic reasons, to disestablish our current constitution and left and right wars on all of our governments.
I was fascinated in watching AlphaGo at how far AI has progressed to defeat the world champion Go player. One of the biggest problems in bringing about more economic equality will be the methods of wealth transfer and I suggest that this is a study that could well occupy the next quarter of a century in AI development This has been the Achilles heal of many socialist and communist systems even though the goals revolve around this dream.
tionto the English civio war and Americn Revoluxist ideas were very ole by the tue 9f Mar. All he added was some math. In the West we coud -rbably trace them back to Sparta. But easily back
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Capitalism tilting at windmills
See China! Which scoliosis economic regime is more successful or better for their people?
🌱🌳❤3
Professor doesn’t mention that windmills were frozen and so were the solar panels. The only power at all came from coal power stations. In fact they cranked a couple of unused coal stations up to generate at least some power. The greens need to get it into their heads that you don’t just bring in windmills and solar, you keep a couple of coal or gas stations in case of bad weather. We need both. In good weather the renewables are great, in bad weather,the coal stations and gas can be bought online. That way we get the best of both worlds.
Those windmills kill a million birds a year, especially big birds like eagles. That study was done in Germany.
Is julie blinking in Morse code?
Go to China sir
You are strange maybe you should visit the people in the camps
"HSBC announces a pivotal to Asia." Well, Hong Kong Bank of China is already about as Asian as you can get. (With outreach into the West.) China's "economic miracle" is unsustainable. Pollution is at catastrophic levels and climate change is wrecking havoc on agricultural production. Five more years of crop failure due to massive flooding and China will be forced to invade the neighbors to secure food production for over a billion people.Not to mention civil unrest and a serious factional divide within the CCP itself. I live in Asia. A big market isn't everything.
Julianna is cute. Just saying. She's smart and an attractive woman.
Let’s see if we raised the minimum wage and stop sending our factory workers to produce products for the Chinese everything would work better
Whats going to happen is capitalism is going to have to abandon Americans before we will see the light. It will have to hollow our most of our cities like they already have done to places like Chicago Camden New Jersey Pittsburgh... at that point the people will be left to fend for themselves. The dollar will be useless by then and we will have to start co-ops with each other around our country and together oullputselves up by the bootstraps
Don’t you realise that the owners of the factories took them over to China to take advantage of cheaper wages thus giving them a greater profit. The factory owners are the same people who owned them in the USA. If China demands higher wages for their workers the factory owners will move onto another country so that they will be able to exploit the workers there and pay them minimum wages. You need to be angry with the factory owners not China.
@@louiseclifford5184 of corse I understand that