Unfortunately, the majority of Americans have been brainwashed, beginning in elementary school, continuing into high school, and beyond - yes, this includes me. At what point do some of us start questioning our trusted public teaching? In college, if we were fortunate enough to set a college or university degree goal. I remember a professor in a geopolitical class I enrolled in out of curiosity because I'd never heard the word "geopolitics" and was completely clueless but very curious. Wow! Did he give me a lot to think about! I questioned almost everything he lectured on! It took a decade or more for me to catch up ideologically with where he already was. I'm so happy I stumbled onto his class.
I enrolled in a class called (something like) Geo Economics - which duh, discussed natural resources etc around the world and the economic interplay. Of course it was FASCINATING - this class may have contributed to an earlier semi- consciousness by me - only SEMI, mind you, but a little is better than NOTHING!
@ace9840 Yes counting on central banks is what you have to do... They control the monetary policy, what I meant was that the economy is taught in school and university if you take economics.
Prof. Wolff is such a gift. He takes complex, confusing topics and breaks them down and out so we can understand them. He has a special talent for making things understandable and should be required listening for everyone. I'm on a community board, and it is amazing, shocking, and scary what people don't know. Too many people are completely disconnected from what is happening. It keeps me coming back to Prof. Wolff. I have been tuning in to his program for several years now. You can trust his information, and this, too, is a gift.
So, what complex and confusing topics do you now believe you understand? Which information provided by Wolff, do you trust? Just curious, but if you are on a community board, how is it possible that there is "amazing, shocking, and scary what people don't know. Too many people are completely disconnected from what is happening." YOU are that "connection"...yet you aren't providing us with "any" such information...why is that?
The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?
Just get a financial planner straight up! personally, I would invest in etf and also love investing in individual stocks. yes it’s riskier but I'm comfortable in my financial environment.
I agree. Exactly why I now work with one. A lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m
Carol Vivian Constable 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..
I just Googled her name and her website came up right away. It looks interesting so far. I'm going to book a call with her and let you know how it goes.Thanks
And let's not forget how the global economy plays into all of this. Economic instability, inflation, and market fluctuations can further complicate matters and add to people's financial worries.
It's a vicious cycle. If people can't afford homes, they might delay retirement savings, but if they focus solely on saving for retirement without considering their housing situation, they might miss out on potential investment opportunities.
If the U.S. expects countries to want to use the dollar and the U.S. Treasury we should stop weaponizing the current financial system. This is not in America's interest to do this without due process.
You need to get a financial planner or expert on investments to aid diversify your portfolio to commodities index funds, digital assets etc, to provide illumination and guidance in the financial markets.
Good point, Financial planning and retirement strategies are crucial, especially in today's economic climate. With global economic fluctuations and uncertainties, it's essential to have a solid plan in place to protect your financial future.
No doubt being financially free and not having to worry much about health care and other expenses cannot be overemphasized, making smart plans and setting up diversified investment portfolios is quite essential.
Whenever I let my RU-vid autoplay, it often brings me to Richard Wolff videos. Feeling grateful that they haven't caught the mistake in the algorithm. 👑
Mistake????? ROTFL! No, it's a feature of their algo. The guy's an idiot who never worked outside of academia. RU-vid pushes him for some reason. No matter how much I downvote, he keeps popping up in my feed.
Yup & he's talking for the left out, leftists in America. We don't have a voice so his job is very important and probably prestigious. Talking like me but not punched or cut from the team.
Thank you for everything you are doing Prof. Wolff - to educate we who have never had a truthful or functional/critical thinking education in US economics and the ways that we can change our system to have a better way for all of us.
Using credit as money is the #1 leading cause of inequality. All metrics were improving until 1971. Even the fFed, a private corporation, has admitted so
That last 5min or so very powerful stuff... I live in Canada and the decline in standard of living over the past 15-20 years has been scary to witness. I wish people could band together but most don't have the stomach for it.
We still have social mobility. I went from the middle class to the working poor quite easily. Our system is getting worse. More and more people are being pushed aside and forgotten.
Blame none but the wealthy class of your own countries. Please, do not blame immigrants or foreign countries, because we have little to do with the increasing inequality in the USA or the UK.
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Melissa Terri Swayne turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
I located her through google, sent her an email, and scheduled a call; hopefully, she will reply because I want to start the new year off financially strong.
Your last points are poignant and crucial, Dr. Wolff, I wish more people were aware of these findings. Unfortunately, inequality is so bad that people are exhausted and dont have the mental energy to think about how badly they are being swindled. Something's gotta give.
Hello… The United States makes it difficult to vote out and change our government systems that are not working for working class people. The parties in England are more diverse. I wish our two party voting system had more options. If we had more options and thus more power, I bet more people would be inspired to get involved and vote. Thank you, Professor Wolff!! 🤗Robin
I do think it’s a trick, you don’t have two political parties in the US. Both parties are capitalist parties they have the same policies on the economic field.
@@LouisTeniorGuerrier Easily disproven. One example (of many) is the policy differences on Social Security. Republicans have been working to remove it since 1935.
@ace9840 Well, you have not had your eyes open. Capitalism by it's very nature kills without a doubt; your country going from the richest to the poorest, is a testament to it's nature. Capitalism by definition is not loyal to people or country, it is only loyal to the most inexpensive labor. You may be able to work out the rest! Pure capitalism is Fuc$ing evil. An non monopolized, regulated, reward for labor and innovation is a basis for reform.
Dont be fooled by these speakers. Certainly they do point out grievances many can relate to but as with any good salesman they dont necessarily offer the solution best for you. Many of the problems noted by MMT and socialist/communists do exist today. The extent of these problems is primarily related to a corruptable monetary system. One in which a group of people can create money from nothing....lending money they dont have in order to create money giving them the upper hand involving all negotiations from gov policy to wage negotiations with employers. This money printing is done by central banks and governments. The answer is money with a set amount of units and laws preventing the lending of money they dont have (known as fractional reserve banking).....NOT gov controlled and manipulated money as proposed by collectivists (marxists, socialists, etc) as this would be just the same, or worse, than the quasi private public fiat minetary system seen in the usa. This money must be agreed upon by all users of it. There is still the problem of how can people know how the system works without being experts and spending much time on the subject. Such as the case with bitcoin or any financial system....however bitcoin seems to be the best solution so far, with the exception of highly concentrated holders. But with a set fixed money supply, a balance (not perfect or unchanging, but ebb and flows as the balance of life and resources in nature) will arise. Allowing for competing business that cant be perpetually bought up from another business with printed money (loans) creating monopolistic industries. With more employers to choose from, employees will have more bargaining power over wages. Essentially a hard money system flips the current financial system 180. Insted of prices rising, you get declines. Instead of asking employer for a raise, they will have to ask you for a pay cut. Instead of shitty service from big box retailer or tech giant, they will be smaller companies rolling out the red carpet. Businesses will need to offer better service to customers in order to compete with each other. With real hard money, there will be much less need for government involvement. With the solutions proposed by communists/marxists/collectivists, a society of have and have nots will perpetuate just as much as in a banker money printing society (falsely called capitalist as its not based on capital but on debt/credit). Both of these will place individual liberty far behind any other priorities. Life, liberty, and property (and hard money) is the basis of civilized society.
@ace9840 Dont be fooled by these speakers. Certainly they do point out grievances many can relate to but as with any good salesman they dont necessarily offer the solution best for you. Many of the problems noted by MMT and socialist/communists do exist today. The extent of these problems is primarily related to a corruptable monetary system. One in which a group of people can create money from nothing....lending money they dont have in order to create money giving them the upper hand involving all negotiations from gov policy to wage negotiations with employers. This money printing is done by central banks and governments. The answer is money with a set amount of units and laws preventing the lending of money they dont have (known as fractional reserve banking).....NOT gov controlled and manipulated money as proposed by collectivists (marxists, socialists, etc) as this would be just the same, or worse, than the quasi private public fiat minetary system seen in the usa. This money must be agreed upon by all users of it. There is still the problem of how can people know how the system works without being experts and spending much time on the subject. Such as the case with bitcoin or any financial system....however bitcoin seems to be the best solution so far, with the exception of highly concentrated holders. But with a set fixed money supply, a balance (not perfect or unchanging, but ebb and flows as the balance of life and resources in nature) will arise. Allowing for competing business that cant be perpetually bought up from another business with printed money (loans) creating monopolistic industries. With more employers to choose from, employees will have more bargaining power over wages. Essentially a hard money system flips the current financial system 180. Insted of prices rising, you get declines. Instead of asking employer for a raise, they will have to ask you for a pay cut. Instead of shitty service from big box retailer or tech giant, they will be smaller companies rolling out the red carpet. Businesses will need to offer better service to customers in order to compete with each other. With real hard money, there will be much less need for government involvement. With the solutions proposed by communists/marxists/collectivists, a society of have and have nots will perpetuate just as much as in a banker money printing society (falsely called capitalist as its not based on capital but on debt/credit). Both of these will place individual liberty far behind any other priorities. Life, liberty, and property (and hard money) is the basis of civilized society.
It's been a clear and present danger for a LONG time,, I've said for YEARS that the idiocy of prohibition plays right into the post industrial economy as usually poor usually black people are tapped to deal drugs to people with money... While it is true that supply to some extent influences demand,, once people get smart enough to do things like grow their own cannabis or produce their own methamphetamine then the market adjust to accommodate that home produced product SO Draconian prison terms and rampant corruption and profiling keep for-profit prisons full and meanwhile laws that seemed logical like limiting availability of pseudoephedrine basically backfire when the cartels can produce enough to supply the world with drugs... POINT IS the situation spirals when well off people can basically get out of minor drug charges whereas poor people go to prison for years,, AND we have the national security threat of gangs and cartels not only sucking economic potential out of the country,, we got entrenched corruption and rampant violence alongside the drug issue when we could just have the drug issue and deal with the other problems like restructuring society by getting rid of the billionaire pricks who keep this paradigm going...
@@bluewater454 Of course it's a national security threat. Donald Trump would never have come to power without worsening economic inequality and events like January 6 would never have happened.
@@bluewater454Inequality induces violence and class conflict, this is well documented and we see that in more equal societies their trust is higher, their crime lower, their unhappiness lower, their development higher, etc. We see this in countries like Finland, Iceland, Denmark, Norway, etc
Almost all problems could be solved by a society that decides what it NEEDS and wants and then making it financially worthwhile for the people to SHARE the jobs that achieve it. There would be no more people doing bull***t jobs, no more useless jobs, no more unemployment. Everyone would be sharing in doing something we need and want.
Absurdly in this day and age it seems difficult to get together and agree on what kind of society we want. The political order of the day revolves around trivia, and nobody is talking about the grand lines and where we want to evolve.
In my opinion the height of the last bull run was actually April of 2021, at least for most alts. Of course on the chart it was basically a split double top with several months in between. The coins that I was in peaked in April. Conversley I realize bitcoin's height was in November of the same year. I agree with you on this next parabolic run. I think that the beginning of this will be around October of this year and up through next spring, even possibly as late as September of 2025 but no later than that in my opinion. However I strongly believe it will be primarily March through June of 2025 for the peak. People definitely need to start looking at where they intend to take profits and which coins are a priority....currently I've been engaged in active trading and managed to grow a nest egg of around 2.3Bitcoin to a decent 24Bitcoin....I'm especially grateful to Linda Wilburn, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
In a field as rapidly evolving as cryptocurrency, staying updated is crucial. Linda’s continual research and adaptation to the latest market changes have been instrumental in helping me make informed decisions.
Thx Professor. Your steady, reasoned lectures are a source of respite and hope for me and I’m sure many others!❤
2 месяца назад
Through salary classes in Croatia, I made an analysis of the impact of inequality and found that inequality in Croatia favors 34% of the better paid. Those with below-average wages only suffer from inequality. And that's the problem. 66% of people cannot control opportunistic tendencies, 34% of people have no idea about it and think that it is a normal thing and that they are to blame for their poor financial situation. The ratio between the lowest and the highest salary was about 1: 27. A ratio of 1: 3 would be much more appropriate and guarantee a better dispersion of income.
Stop saying "inequality". Say - poverty or destitution. I don't care that I am not rich- what really makes me angry is the fact that I work like a slave and can't secure the basic means of survival, if you include healthcare.
I see what you're saying but IT IS inequality,, in other words you and I work like slaves so Richie Rich can buy another yacht to water ski behind... WE MAKE the stuff or build the buildings or drive the trucks or work in a power plant or whatever,, while corrupted lawyers and business shysters rake in the gravy...
@davidestin1990, ...if you include health care and groceries and rent and higher education. My income is entirely from Social Security and a $165.02/month pension. Rent alone is MORE than 50% of my income. My apartment is considered "affordable." I'm poor!. But everyone, including others who qualify for and live in these "affordable" apartments say they are middle class. Nobody wants to be poor but we are certainly poor.
Due to political correctness. The words of "poverty and destitution" cannot be publically applied, becuase it is degrading. Just like the word "Poor" is a dirty word. No one who is low income want to be labeled as Poor. There is a lot of denial and deflection. I am bearly making ends meet month to month. Struggling in the state of low income. I have regarded myself as poor and broke in the presence of those who are struggling in similar manner. But--don't you dare reference them as "broke and poor." It is a high insult to their foolish pride. But those same people will complain about the cost of everything getting higher. The stores are over charging and ripping people off--will be the famous words spoken. Yet a few will find the money to get a six-pack of beer.
Love your work professor. You do know that to get everyone to look 👀 in the opposite direction, when the market does collapse they will create a very bright light 💡
If buffet selling, Is this a good time to buy stocks? I know everyone is saying stocks are at a discount and all but just how long will It take to recover or am I better off putting my money elsewhere. I need a lot as rent, inflation alone eat up almost all of what I make with dependents and other obligations included. Tbh it's an uncertain year for me.
As they say. Time in the market, not timing the market. Only contribute what you can afford bcos it’s a long term thing. Property & Stocks will dip & peak but they aren't going anywhere anytime soon.
Be extremely attentive as we are entering an unusual market economy. That doesn't mean that you can't unravel opportunities in every sectors, you can but you should be considering rewarding options first. It would be a vast awareness to align under a top performer for easy earning picks. I did the same and it works.
right now I’m being focused on renewable energy, semiconductors, Ai chips which will be hugely integral on every sectors in the coming years. an absolute power move right now.
Women dying of dead fetuses that are illegal to be removed, 60 years of sanctions against innocent countries that refuse to bend a knee to the US empire, employee ownership that would make the people powerful and the only way to fight lowering wages and firing you for being gay - only the ignorant or sociopathic would find these issues "cliches". @bluewater454
Dr Wollf can you also please talk about all the money reserves and African assets being held by the French reserve bank, when are those assets going to be returned from France to the Africans? "The pact of the continuation of COLONIALISM" had to be signed by African countries who still did not gain True Independece ... and why are Africans still need to pay France for colonial taxes???
France was ex? empire,so simply retained old colonial arrangements.BUT now, Burkina Faso,Mali,Niger, etc. are taking control of their economies. See several videos on this,as by Breakthrough News, Richard Medhurst, We Love Africa, etc.
Well, I picked the challenge to put my finances in order. Then I invested in cryptocurrency, stocks, through the assistance of my discretionary fund manager
Trading is difficult, I'd spend the five grand on education for trading. It's not easy. Investing is different, that's easier. Short term or long term gain is the question.
The cost of living chases the wealth. And when so many are so far behind this race the poverty hole gets deeper and darker. I can literally watch the despair manifest itself on the streets of Dublin, Ireland which I walk every day.
I feel sympathy for our country, low income people are now suffering to survive yet inflation and recession keep increasing daily, many families can't even enhance the good cost of living anymore. You've helped myself a lot! Imagine I invested $50,000 and received $190,500 after 14 days
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over a million dollars.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like “Jessica Lee Horst” who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
Decades of neglect, the co-opting of the Boomer left so successfully effected during the '70s, brings us now to the edge of this socio-economic cliff. The world is changing and as hard aa the US and thereby NATO Europe endeavor to stop it, whether through war-mongering or economic sanctions, the non-western world has had enough of it. When the effect of what they're doing to rid themselves of the West's economic hegemonic oppression becomes manifest, the lesson of these decades of neglect will be harsh indeed, and it's not hard to foresee how people will react, including the establishment's influence on government policies.
I remember when liberal Boomers and Silent Generation were united against Reaganomics but Bill Clinton easily turned them into Reagan Democrats simply by telling them the party needed to move to the right in order to entice swing voters. Such chumps. Now they think an FDR-like Bernie Sanders is too radical. When they were begged by despairing younger gens to embrace his plan for economic justice, they smugly said NO.
Hallelujah 🙌🏻!!!!! The daily jesus devotional has been a huge part of my transformation, God is good 🙌🏻🙌🏻. I was owing a loan of $49,000 to the bank for my son's brain surgery, Now I'm no longer in debt after I invested $11,000 and got my payout of $290,500 every month…God bless Mrs Susan Jane Christy ❤️
Wow that's nice She makes you that much!! please is there a way to reach her services, I work 3 jobs and trying to pay off my debts for a while now!! Please help me.
I’m sorry, but ANY so-called “Black” person in Amerikkka could have told ALL that written in the research 😂 BUT you wouldn’t believe it. No!!! We’re just crazy 🤪
@@jgalt308 Article 1 Section 4 Clause 1. How much more explicitly do you need it spelled out for you? You're as correct about capitalism as you are about democracy.
It used to be called Political Economy ... Then the elites turned it into Economy, as some kind of 'science' that exist in isolation from society. Even a fake 'Nobel Prize' to top it of.
I live in Orange County Ca and the amount of people out in the streets is ridiculous at any one night there is at least ten people camping on the side walk one block from where I live and the smell of urine and feces is just unbearable not to speak of the fighting on the public transportation or my landlord who at 50 yrs old already had an open heart surgery and is unable to find employment or his wife who says she only gets $75 from uncle Sam...some of this things really make you think like what the foo is going on here?
We do not need empires, we need happy prosperous unified independant communities that understand mutual aid and contented human happiness. Gardens and diversified small farms entirely free.
is UBI really such a bad idea? Realistically, in practical implementation, would we be capable of making significant changes to a precarious system when people are too scared to trust anything. How do you calm people down enough to consider peaceful change instead of war change/diversion. How can it work when the imbalance is so extreme? Theory and practice are two very different things.
Invest in Bitcoin before retiring by diversifying across assets, allocating a small portion of your portfolio, staying updated on market trends, and considering long-term holding to balance risk and growth.✳️
I recently sold half my tech stock holdings due to all-time highs, leaving me with $400k. Should I invest in ETFs now or wait for a market correction considering potential inflation?
One of the biggest obstacles, "WE THE PEOPLE" face, is the government! We do NOT have a Government Of the People, By the People, or For the People. And have not had that kind of government from the very beginning!!!! The government is RESPONSIBLE for the Economy we now have in the U.S. and it's accompanying wealth and income inequalities. And you best believe, they are NOT going to change it! And they're NOT going to let US change it!!! It is as George Carlin said it is, "it one big Club, and YOU ant in it!!!" IT'S NOT GOING TO CHANGE! Therefore, we must needs prepare for what's coming!!!!!
Hi! I'm an Indian looking to start investing in the US stock market with $20k. Should I focus on index funds or individual stocks? Also, any tips on handling currency exchange rates? Thanks!
With $20k, I'd suggest a mix of index funds and a few individual stocks. Diversify and watch currency rates by converting in smaller amounts. Good luck!
Index funds are a safer bet to start. They offer good diversification. For currency, keep an eye on the Rupee's strength-convert when rates are favorable.
Melissa Elise Robinson is the licensed advisor I use and im just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
Why. Do you float down the street using none of the roads all must pay for? Do you have your own private police force and judicial system when a crime is committed against you? Do you own your own fire engine and station to put out your own fires? If you want a fairer distribution of taxes so that the lions share is being paid by the capitalist minority and their corporation and not the majority workforce below as it has now become, then I am right there with you. But if you are for some bullshit libertarian idea of a tax free selfish f**king society, you can f***k right off as the only people who push such bullshit onto the masses are wealthy themselves and dont want to even pay the slivers of tax they pay by comparison to their housemaid who pays a VASTLY higher proportion of her income in tax than does a millionaire capitalist getting money for no work at all via dividends and rents being legally stolen from their workers pay packets.
The same analysis was generated some years ago by the organization Redefining Progress. They argued for the replacement of the standard measure of economic growth -- Gross Domestic Product -- with the Genuine Progress Indicator.
Thank you Professor Wolff. Would it also be appropriate to speak of "Inequality" as Inequality of Opportunity? It seems that Capitalism is promoted as a religion in the U.S..
Prof Wolff, you may find another YT vlogger an interesting man to interview. He's working to educate the Brits on how inequality arises and affects us. His name is Gary Stevenson and the channel is called Garys economics. It would be very interesting to hear his take on the book's findings.
I love the people in the west, I have benefitted greatly by their ideas and work. But goverments now are wasting the potential, and generating wars and division. It is such a sad situation, everyone suffers as a result.
The wealth inequality means life in society as the object that opens access to the necessities of life will never correspond to an individual’s subjective goals and desires.
