Economic Update: U.S. Capitalism At The Crossroads 

Sorry.

Capitalism and US government have failed you

You're in my thoughts. Live on!

Oh heck. That is so unfair. And nobody was willing to help lift you up? Terrible.

Hello. I'm 77, justreetly. I own my house, but jointlywithmye-wife,and the divorce agreement has me pretty tight financially...dipping into a dwindling annuity, splitting the house payt & taxes with ex as we own the house jointly,survivorship. My ex is 14 years younger &we have 2 grow kids. Your text struck me as ifeel the same sort of trapped by circumstanes as you seemed to state,. I'll soon be done with annuity and unsure of how things will go when that's gone, and my ex does not want to participate in the house expenses.last year furnace boiler went out, fridge & water heater, & big car expenses so a big blow to shrinking annuity. So where do you get your hope that things will get better ...cuz mine is. Shrinking! Good luck to you! You are young yet so I hope you have time for things to turn up! Best of luck!

Hope for what any idea of masters and slaves freedom and democracy is the biggest deception the colonial imperialism masters have been selling for the past couple centuries 😂

He's a clown and nothing in his presentations are educational, entertaining perhaps. He's the circus in Bread and Circus. Just keep that in mind when begging for bread after the currency collapse.

Why have taxpayers in America allowed $ 1550 trillion on 12 nuclear subs !

​@@simonsadler9360Russia and China cannot hide its antipathy for the united states. It's heavy handed autocratic inclinations cannot be ignored

feels as if the uaw is handing over its artillery shell and high explosive munitions producers to the administration the ira is now firmly a shot in teh arm for military industry

Against whom ?

The rise to the too was awesome. Now we are in the SHTF phase.

FDR got money from the riches to support the poors. Nowaday USgovt. try to get money from the riches but the riches said "when they use up money they want money from us".

Capitalism isn’t decaying so that makes no sense

Unity

And they can shove the Fascist enslavement debt burden and control freaks Control Central digital currency to whence the freaks cannot have us over and over.

WWIII IS COMING...

@@tomtuttle919 WW2 never stopped

............................and you coming back as a Victor ?????????????????????????????????????

I like his name for the two parties The Democraps and The Repulsicans. 😂 I think it’s fair to say Gerald Celente is no fan of the establishment.

@@aaronogden9900 Yes we mock them and they run the show ..................

Yes, it's not the material conditions of workers' lives, it's some weird 'culture' that has taken us all over. They will soon be telling us Putin did it, and we'll have to suffer until we mend our ways.

Not really since most prefer the Free stuff here...rather than actually paying for it. So "his work" is a gift...but it is more of the "Greek bearing" variety.

Do you believe in a livable wage

@@fritzforsthoefel8031 and the point of that question is? What is a non-livable wage? The implications seem to suggest that if one is not receiving such a wage, the result is death. The homeless receive no wage at all, and many are addicted to dangerous drugs, yet they do not appear to be dying in any great numbers as the problem would be self-resolving, rather than becoming worse. As a result, the question suggests that it is motivated by a particular subjective moral standard containing many assumptions including one that assumes the standard itself, shares universal agreement. Unfortunately, this is not true, subjectively..and could not be further from the truth objectively. The first minimum living wage in the U.S. was set at 25 cents an hour...and from that point (1938?) has consistently been increased and yet it seems to be further and further removed from what is meant by a "living or livable" wage. Yet, people are not dying for the lack of it... so there is a serious disconnect between the "implied meaning" and its objective meaning. This is not a unique problem but rather a ubiquitous one...as one constantly hears that "greed" is the source of all evil, and yet when faced with the questions; How much is enough? and; How would you know? ...one is met with silence. Then there are logical questions regarding the concept of a "minimum living wage", determined by law? Why, if was indeed an accurate estimate, did it have to be constantly increased, and why, even with these increases does it continue to fall further and further behind what is believed to be needed? Then there is this question: What is a wage? The answer here is a bit simpler... it is the cost of hiring labor and it is the price for your labor...and your cost or price is determined by the level of skill involved ...its relevant availability ( supply )and is balanced by the required need for it. ( demand ) A wage is therefore a "price".( and a cost ) which presents a problem for the rather inventive wage/price spiral...that becomes a price/price spiral and an absurdity exposed by its very utterance. So, thanks for the question but as you can see a bit more clarification is required to arrive at a reasonably detailed and truly explanatory answer. Of course, our Professor would have no problem answering it as is...as he no doubt shares all the subjective assumptions required to provide you with the answer you have decided is the correct one...and when failing to do so, will no doubt be assaulted by your ad hominem wrath, limited only by your imagination. As for me...I just have a few questions.

Quite intuitive isn't it?

That is against capitalist's ideology

Yes. USA capitalism no good. German capitalism good. Hahahahahahaha Why I am not surprised?

Your lectures require me to darkly ponder the question ,"how much will labor cost when its finally ,"free"? I only wish I could have attended your probative,accessible lectures with your colleague Dr Resnick at UMASS back in the day.I understand they were "cracklin good and "jolly well told".Peace.

As a student of history, I'm with Javier...

​@@rwm5518Then you're an incredibly BAD student indeed.

@@thomaswikstrand8397nope he is a better student than you or Wolff

both are the two sides of same coin

@@katsullivan No, not at all.

This man loves You.

I have been standing on the railroad tracks screaming since 1998

​@@PDTRUMP your name is cop trump how are you not the most pro capitalist out there

@@PDTRUMP But it's been happening since 1939.

Yes but UKR first !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Yeah he was able to do better than his immigrant father thanks to cheap college and better job opportunities than most graduates have today. America used to care about its people . I learned that thanks to wolf. I admire him too.

@@3338MAN RTW laws don't prevent anybody from joining a union.

@@clarestucki5151 Ваши профсоюзы и убили рабочее движение что так пугало капиталистов. Слушайте и дальше глупости профессора Вольфа ))

Do you think that world would be in better situation if Russia would not f… up?

Prosvescenie eto net sdelat lucse neobhodimo

Привет

spasibo

Osobenno neobrasovannie duraki s sapada

''Britain’s story is a monumental example of what’s described here''---------------------Opinion of people who never been or do not know what UK is EU wishful (nasty) thinking

First, the Professor has never acknowledged either "finance capitalism" or the "rentier" economy as being a "thing"...and he just did two joint interviews with Michael Hudson demonstrating his "ignorance" of it, as well as his "ignorance of Marx's understanding of it, and his expectations that it would be "actual capitalism" that would enable or lead to a transition to "socialism" whatever that might actually be. If one follows Hudson's reasoning and work which is economically and historically consistent with Graeber's Debt: The first 5000 years, and the requirement of frequent debt jubilees to avoid system collapse and the other aspects of these credit-based systems...one has to call into question even the use of the term "finance capitalism" as having any useful definitive meaning...and indeed Hudson himself has gone to great lengths to actually define what capitalism is...but this doesn't really solve the problem, for it also adds a word to "capitalism", leaving us with two forms of capitalism, one which IS capitalism and one which is NOT!!!! Indeed Graeber's Debt begins with upending the imagined economic cycle of barter, money, credit to the cycle that emerges with civilization itself, to credit, money, and barter...with the final stage remaining after the collapse occurs...and this is also historically consistent. The next problem that arises is that of "money" itself...and the realization that "money" as a commodity no longer exists ( de facto from 1933 and de jure from 1971 ) so NOW, money itself has become debt. Wolff has no grasp of any of this or refuses to acknowledge it and it makes little difference which of those is true or the motivation for it although at best it would seem he is channeling Rodney King and the question "Can't we all get along" for which "historically and pre-historically" the answer has been a definitive NO. Without revealing the details of your "utopian" solution that you have an actual grasp of what "finance capitalism" is, or capitalism, or money, or wealth" or history...the very fact that you admit to its utopian aspirations would suggest that you also haven't come to grips with the objective reality of human existence which keeps telling you that we all can't get along. and it would seem that solving that part would be critical to its potential success. As for approaching Wolff or being guided by him, that is a waste of time...Hudson is a better guide and he has a significant body of work, also Steve Keen, and Thomas Sowell, offer different perspectives, and from the scientific biological behavioral school, Robert Sapolsky. The conceptual understanding of biological altruism is one twin, two siblings, or 8 cousins, and one must also determine whether humans are a monogamous or tournament species...as well as the understanding that we are NOT a eusocial one. ( see E.O. Wilson ) It is the failure to recognize and accept this that dooms the "utopian vision of the anointed."

When the ceo,s was walking away with millions of dollars as bonuses hundreds of times more than their annual salary no one complained take your minimum wage and keep quiet get a credit card and keep a high credit score so they the capitalist could the people enslaved 😂😅

Compare China and Russia to democracy for the people

@@theprophet489 What about China and Russia?

@@blogintonblakley2708 That was an "exercise"...what part of it did you not understand? and THAT was a question.

@@jgalt308 So, I was talking to the prophet, not the original poster. {shrugs}

@@blogintonblakley2708 Yes dear...that was very clear... "Compare China and Russia to democracy for the people" That was an "exercise"...what part of it did you not understand?

Нет такого слова- "Демократия".

Fabian socialism

The top five percent pay over half the federal taxes and the average person draws out three dollars for every dollar paid in medicare taxes and the poor get subsidized housing food assistance cash assistance and free healthcare the rich pay almost all the federal taxes and get next to nothing in return

You are aware that corperations are taxed three times at the federal level

And When it is tough they got bailed out.

@@fritzforsthoefel8031 Where ? On Cayman islands

That's just a component of Capitalism. Capitalism needs to grow exponentially or it will go into crisis. It's a small wonder that consumers are pushed to buy, buy, buy. And borrow ,borrow, borrow if you can't afford it. This is just one of the many inherent contradictions in the Capitalist system. You can't degrow an economy to something sustainable under Capitalism. It can't do it, because that is antithetical to what Capitalism is. It must grow infinitely on a finite planet.

Overconsumption and greed is not the reason, it’s the symptoms of the system. You need to listen to prof Wolff more - he explains the system of capitalism and how it works and why overconsumption ( and underconsumption) and greed are necessary to survive in capitalist society.

People flee communist countries to capitalist ones why is that

And replace it with what

@@fritzforsthoefel8031 Anarchism.

How did we ever survive without government help

Even the libertarian party believe in military police EPA fda and schools

Exactly. Workers should always have first option to buy their company.

Expropriation of assets and tax outgoing capital if they ever consider leaving. Corporations should not have rights of personhood (and outside of the US they rarely do.) They should have no right of movement until workers are compensated first.

Idiotic entitlement nonsense

@@vivalaletano they shouldn’t

Why not? @@ExPwner

Earnings went up and not down

I'd focus less on the length of the strike and more on the magnitude of the strike.

#bankrun2024 and bring back Glass Steagall

It's crucial to have a well-thought-out strategy and not make impulsive moves based on short-term market fluctuations. Patience and a long-term perspective are key. You should consider a market expert to guide you.

I'm in line with having an advisor oversee my day-to-day investing cos, my job doesn't permit me the time to analyze stocks myself. Thankfully, my portfolio has just 5X in barely 5 years, summing up nearly $1m after subsequent investments to date.

how I can get in touch with this advisor as my porfolio isnt doing well?

NICOLE DESIREE SIMON is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

Wtf? Where did Wolff hate on communism? Early communism that is. Later it became something very different from communism.

@@vivalaleta he lied and said communists didn't try to reorganize the workplace.

@@DC-wg1cr How hard did they try? Employee ownership of their work is the crux of true Communism and the only way to ensure democracy. Russian communists didn't secure that system or they'd still have it.

dude is already over 80. how much wiser beyond that can he get?

@@OlJackBurton It is believed by most that wisdom comes with age but this is not a guaranteed result, and since Wolff has pursued and pontificated the same ideology his entire life, he is living proof that age doesn't necessarily correlate with the attainment of wisdom.

And wise beyond his ears .Hhahahahahahahaha

Not for long if they can help it. New regulations to stamp out misinformation.

I think you mean "misinformation".@@sdrc92126

Wolff doesn't read comments...nor does his volunteer...he also doesn't read much, or understand much...as Michael Hudson recently demonstrated, twice! So what is enlightened "democracy"...one where the majority doesn't cancel the minority... or has the meaning of the "word" changed somehow...to mean anything other than "tyranny"? And if you have a problem with the "elite" you could always rise up and eliminate them...but that wouldn't solve your problem and you are not going to do it anyway. Btw...Uruguay seems to have the following problems... Vulnerable to commodity prices (soybeans, beef, dairy products, wood, rice) Dependent on the economic conditions of Argentina and Brazil (tourism) and China (commodities) Inadequate transport infrastructure Reduced competitiveness due to high inflation and market rigidity Public debt (mitigated by a longer maturity and diminishing denomination in dollars) So like Wolff you still haven't figured out the source of inflation or what enables the "elites" to become "ELITE". Given that you a supposedly a "constitutional republic"...which is antithetical to "democracy", you are simply another "republic" that has lost their way. Good luck...and in any case, this is not the mechanism that will succeed in contacting Wolff... try visiting the website or emailing Charlie as instructed...if you succeed Democracy at Work will grant you 15 minutes of fame. Oh, joy...oh, rapture.

''Workers of the world unite 🌎''-------------------------People of the world ......................................

#bankrun2024 and bring back Glass Steagall

NOT!!!!

@@jgalt308haha such a loser.

There is plenty of outrage...but it lacks any direction...so one has many choices as to the actual cause, and all manner of "babble" as to the solution. Wolff's minor faction is simply another "division" in this cacophony...composed of nebulous claims, questionable evidence, historical ignorance, and nonsensical solutions.

Too bad he has never had a clue what capitalism is...nor is it the cause of the problems...and this contradiction should be obvious to anyone who listens to him. After all, if Wolff's understanding was consistent...he cannot attribute the Rise of China to communism or socialism...as well as attribute the West's decline to that of capitalism.

The empirical rules of economics are responsible for the limits that constrain any system. But the study of economics is only a pretense, as it is neither, science nor discipline, and as such, the variations of these systems are determined by those in control of them, through FORCE and commonly referred to as "government"... a fact that has remained true for the entirety of the history of civilization.

The rich pay almost all the federal taxes what are you talking about

Actually, who pays taxes is readily available from the government, and the evidence directly contradicts your claim.