Perhaps the question ought to be- not why is Russia doing so well, but why is the US doing so badly. This is what I think. It goes back the fall of the Soviet Union. It seems to me that it was only the fear of communism that kept the liberal order 'honest'. The threat of an alternative system forced western oligarchic class to concede a decent and improving standard of living for western citizens. The institutions of civil society, such as publicly owned services, social safety nets, mutualised finance companies and trade unions etc. were tolerated. As was a tax structure that supported economic equity. Once the Soviet Union collapsed, and with China not yet a superpower, all restraint on the Western capitalist oligarchic class was lifted. With the cold war ended, private Western capital power bodies could operate without effective restraint. Government was captured, and tax laws were heavily revised to transfer the burdens of financially supporting civil society to the lower and middle class. Privatisation and demutualisation were accelerated by legislative decree. Private media was unrestrained and peddled the views of its owners to descend into the lowest common denominator in pursuit of advertising revenue. Distractions like identity politics accelerated destruction of intellectual resistance, while providing a false and alternative explanation for society’s growing ills. The corporate controlled media applied the tried-and-true method of inducing the victims to blame each other. It generated the false narrative of a bogeyman Left v a bogeyman Right. Ironically, in a demonstration of a paucity of critical thinking skills, these self-appointed elites have come to believe their own lies. The power brokers then reigned supreme with no alternative, and they exploited their opportunity ruthlessly. The result is a deep financialisaton of the social order, not just the economy, as everyone competes for status based on paper wealth, or is in a fight for survival. There were a few years of living off the credit card as the resulting debt growth was fuelled by the intended asset inflation. Debt now became the primary trading commodity of the West. But the economy now resembles an upside-down pyramid, where every aspect of life is run on an undemocratic corporate model. This is how the so called ‘liberal order’ died. With the re-emergence of a primitive, corrupt, ruling clique who are wilfully ignorant of their crimes, and who are increasingly insecure and paranoid due to the instability of their paper wealth base. It is ugly, uncivilised and unstable. It is no wonder the rest of the world pours scorn on us. It is a betrayal of our heritage of Reason and Western philosophy. It took three decades to sell off the West's economic heritage and the cupboard is bare. So they cast their gluttonous eyes to the East. But an alternative system has arisen that bases its success on equity. Although reapplying restraints on the traitors will be long and difficult, it is necessary. IMO.
@longw01
3 ай бұрын
😊
@lynnayers3783
3 ай бұрын
Excellent perspective and well written.
@haleybrown2836
3 ай бұрын
I usually don't read long postings but yours absolutely deserves 5 stars.
@Fjodor.Tabularasa
3 ай бұрын
The USA is not doing badly, the West is not doing badly. There is no other region in the world where the wages are as high and the quality of life has reached the same high standards as in the West.
@joelturley4847
3 ай бұрын
More AI generated garbage 🗑️
@davidburke2697
3 ай бұрын
I live in a third tier Chinese city. In ten years, they've installed subways, electric buses and taxis. The construction in this Chinese cities is on steroids. Large buildings are going up in every corner of this city. I don't know macro-economic numbers or statistics, but I do know new buildings, upgraded roads and sidewalks. Easily rented bicycles are everywhere too. I haven't purchased a drop of gasoline in 12 years. I travel across the city daily to work at about a dollar a day or $20 a month. Buffet lunch costs about 4 dollars. A human cannot carry $25 dollars worth of vegetables in China. A cart is needed and there are at least 4 or 5 grocery markets within 200 meters of my apartment. 5 years ago, I rented a car in Albany NY for $500/week. What the hell?
@aceofswords1725
3 ай бұрын
Wonders of capitalism, mate. Before that it was pig carcasses rotting in the streets. You know, when China was still following economic advice from Marxists such as this Wolff guy.
@D4NK1
3 ай бұрын
Lol, America is finished. It's been finished a long time. Every year a few more people see it
@pla9012
3 ай бұрын
Shhh
@churblefurbles
3 ай бұрын
Demographics. The ones who built Albany are leaving.
@默-c1r
3 ай бұрын
@@churblefurbles sheep, the ruling class that stripped our country of its wealth has you mad at other people who also have nothing because they are a different skin tone. wake up, you're in the same boat as the people of bad demography
@TingTong-mh6ns
3 ай бұрын
As always, another great Prof Richard Wolff video 👍🏼👍👍🏻 From : Singapore 🇸🇬
@hrep14
3 ай бұрын
Yep, you can't fix a situation, when you convince yourself that it doesn't exist.
@GladysAmelia
3 ай бұрын
Professor Wolff always teaches me something new. Thanks for another great interview.
@peterh.1521
3 ай бұрын
Ukraine war have fortified the Brics alliance, and bring Russia and China closer to each other. They know they must work together to resist America's last-ditch effort to preserve its hegemony.
@CheeseLovingGuy
3 ай бұрын
Russia is now subservient to China. It will be interesting to watch.
@yogiguitar1
3 ай бұрын
russias economy cannot be destroyed because the russins have every natural resource a modern industrial country could need in massive quantities. and infact thats what we in the west look at with a greedy eye. basic economics man
@gz3zbz
3 ай бұрын
And the western goods they needed like microchips and CNC machines they are now getting from China.
@KenHubbard-jz1vq
3 ай бұрын
SO DOES CANADA
@Zidana123
3 ай бұрын
@@KenHubbard-jz1vq In theory, yes. Canada has huge amounts of untapped oil reserves. In practical... most of Canada's oil reserves exist in the form of oil sands, which contain a high amount of particulate matter, hence why it's called 'sands.' This oil requires a much higher degree of refinement before it can be used, compared to conventional sour crude oil (which is the form that Russia has), which also make the production costs much higher than that of sour crude. Technological development _is_ driving down the refinement costs of oil sands over time, to be sure. So while Canada is not _quite_ at present at the same level as Russia in terms of resource self-sustainability... assuming that refinement costs of oil sands continue to drop, within a few decades it will be.
@KenHubbard-jz1vq
3 ай бұрын
@@Zidana123 I WASN'T EVEN CONSIDERING OIL , I WAS MEANING TO NATIONALIZE THE GOLD AND SILVER MINING , OPEN UP AND DEVELOPE AS MANY NEW MINES AS POSSIBLE , USING THE MILITARY EQUIPMENT AND THE MINING UNIONS , NO TAXES ON ANYTHING TO DO WITH MINING THESE 2 PRODUCTS , COOPERATION BETWEEN PROVINCES , HALF OF ALL GOLD AND SILVER MINED TO GO TO THE FEDERAL GOVERNMENT AND HALF TO THE PROVINCES EQUALLY , AND PUT THE CANADIAN DOLLAR ON THE GOLD STANDARD , THE FED GOVERNMENT CAN THEN PRINT MONEY EQUIVALENT TO THE GOLD AND SILVER RESERVE ,UNLIKE THE AMERICANS OUR DOLLAR IS BACKED UP BT GOLD THERE BY MAKING IT VALUEBLE AND IN DEMAND , ALSO AUSTRALIA COULD DO SOMETHING SIMILAR IN THE IRON ORE INDUSTRY IN CONJUNCTION WITH INDIA THERE OBVIOUSLY MORE TO IT THAN WHAT I CAN EXPLAIN ON YOU TUBE , ALL OTHER INDUSTRIES IN CANADA TO CARRY ON AS NORMAL WHATEVER THAT IS ONLY NATIONALIZE THE GOLD AND SILVER TO GET CANADA OUT OF THE CURRENT SITUATION THE FAILED CAPITALIST SYSTEM HAS PRODUCED , CONSERVATIVES ARE A HUGE PROBLEM SO A REFERENDUM TO BE HELD NATIONALLY. OIL AND GAS NOT IMPORTANT
@Nine-Signs
3 ай бұрын
@@Zidana123 and VASTLY more ecologically and climatologically destructive vs conventional oil, which itself is no panacea.
@profe3330
3 ай бұрын
Dialogue Works has fantastic guests all the time, of course, but what I like best is the way this collection of brilliant people is presented, so that each specialist fills in gaps left by others. A military analyst followed by an economist followed by a diplomat . . . their unique insights round out and inform each other just perfectly. :)
@rankoorovic7904
3 ай бұрын
West thought that sanctioning Russia is like sanctioning Serbia in the 90's That's the only reference point they have these days
@arostwocents
3 ай бұрын
They have sanctioned loads of countries since then. NK and Syria have been wrecked by sanctions and are more likely the reference points, along with south American nations and Cuba
@briandam8126
3 ай бұрын
They also think their (American) military is that of the 1990’s and Russia’s of the 1980’s. FAFO.
@D4NK1
3 ай бұрын
The difference is that Russia is straight
@eazymethod01
3 ай бұрын
@@arostwocentsThe Russians have the experience of doing 80% of the work fighting Nazi Germany and are Orthodox Christians. This makes them unlike Syria or NK.
@joelturley4847
3 ай бұрын
NATO GDP is 50 trillion 😅 The ORCS is1.5 😅
@Intel-i7-9700k
3 ай бұрын
KZitem apparently started hiding geopolitical videos for me that are critical of the current Western policies. Glad I still found this video today.
@daveh5947
3 ай бұрын
Brilliant...absolutely Brilliant video! 👏👏👏👏👏
@honahwikeepa2115
3 ай бұрын
Thanks again 👍🏾. Cheers from New Zealand 🇳🇿🇷🇺🙏🏾💪🏾
@onedaywewill
3 ай бұрын
Hi, my cuz lives in Picton.
@joelturley4847
3 ай бұрын
Slava Ukraini 🇺🇦🇺🇦🇺🇦
@Rudyjosephjr
3 ай бұрын
@@joelturley4847What is Ukraine? Is it edible?
@andrewnorrie2731
3 ай бұрын
@@joelturley4847 You mean Nazi-loving Ukraine, dolt!
@jaswindersian3159
3 ай бұрын
The quality of leadership in the WEST is really poor. It is time for a better quality of leadership.
@CockleAndHen
3 ай бұрын
They’re criminals. This criminal system breeds them.
@jaswindersian3159
3 ай бұрын
Agreed !
@jasonblack6142
3 ай бұрын
No old people should rule
@lambertgiang
3 ай бұрын
How can it be BAD as this is what the West Proud of so-called "DEMOCRACY" that wants the rest of the Non-Democratic elected Govt to follow?
@Penny-em2cs
3 ай бұрын
It doesn’t exist at the moment 😮
@Kivut
3 ай бұрын
Richard D. Wolff is very good at explaining economics
@haleybrown2836
3 ай бұрын
Not only the best Prof. Wolff interview but one of the best aired on this channel to date. Will recommend this interview to others.
@ShamanKish
3 ай бұрын
Employees during WWII were very unhappy and were striking a lot, but no one talks about that.
@Fjodor.Tabularasa
3 ай бұрын
Show some proof please
@nuke7777777
3 ай бұрын
the same employees could afford to buy entire house and sustain entire family on one income. working in a factory today will barely scrape you enough money to rent a cockroach infested bachelors apartment in the worst part of town.
@George-k6o9t
3 ай бұрын
@@nuke7777777 It's all due to inflation which devalues the currency so that what is earned today is not worth the same value tomorrow. To find out what and who causes inflation, check out your books on 20th Century Economics History.
@tkgawa
3 ай бұрын
Was this due to the schedules necessary for such high production? Also, how did the federal government respond?
@ShamanKish
3 ай бұрын
@@tkgawaI found this information on Google around 2008, when the crisis broke out but I don't think Google can offer good answers right now. Google is getting worse as the time passes. I think, what is always at play, is 'they' (politicians) are trying to make people emotionally engaged so they 'volunteer' to work because of the 'common threat' and because 'we need to stick together' and some such 'patriotic' reasons. But people don't buy it, at least not for long. In short, 'positive' emotions as reward instead of money.
@claudetteleece8076
3 ай бұрын
Morning Nima Richard such a special guest to school us on finances thank you
@jvs333
3 ай бұрын
Professor Richard Wolfe is the best educator. He explains in such a simple way to understand ❤❤❤👍👍👍
@Nine-Signs
3 ай бұрын
Wolff. ;o) There is also a Richard Wolfe out there though he is anything but a critique of capitalism.
@jvs333
Ай бұрын
@@Nine-Signs blind capitalism lead to plutocracy, plutocracy leads to oligarchy, oligarchy leads to fascism, fascism leads to dictatorship, dictatorship leads to the whims of any man’s ego whims. All systems need regulations, limits, oversights, system laws to prevent abuse. China is a socialist capitalist system which explains why they’re succeeding in the management and advancing development of their country and society. The U.S. went off the rails starting with Reagan and his “trickledown” deregulated capitalism (corporatism) in bed with governments public treasury that has led to money buying up our government (elections, congress, presidency, Supreme Court) all that now serve the interests of those (Citizens United/Lobbyists) that can buy these government bodies. All things can only work with controlled regulations or they just become the power of those who are in a position to wield it
@jvs333
Ай бұрын
@@Nine-Signs you should read @lawrieyoutube comment
@amornchatk
3 ай бұрын
Greetings from Thailand.
@willblackett4709
3 ай бұрын
The best show and the best guest ... Great info !!! Thanks from New Zealand
@johnpelitidis6297
3 ай бұрын
An outstanding interview Nima... Professor Wolff is so wise.
@thomaskirkpatrick1134
3 ай бұрын
The great Wolfman!!!
@MarkHockridge-qd2fb
3 ай бұрын
I am sure they will find someone to blame for their own ineptitude as is usual when it all goes pear-shaped!😮
@haleybrown2836
3 ай бұрын
My guess, Biden and his age. The perfect patsy, not that he doesn't deserve it.
@Nine-Signs
3 ай бұрын
@@haleybrown2836 Hard to believe the sharp minded man we have just been watching is basically the same age as the pudding for brains dementia president of America.
@sherylbueno3371
3 ай бұрын
Hello from Denver Colorado USA 🇺🇸. Great interview. The point that Professor Wolff made that capitalism has a crisis every 7 years really hit home. The additional point was the fact that our leaders expect the average citizen to pay the taxes to pay the interest to China instead of taxing the rich and corporations. It explains why hiring at the IRS has been made a priority with reduction of services across all other government agencies. The citizens of 🇺🇸 are sleepwalking into a dystopian state.
@Kashmir84828
3 ай бұрын
Actually the US is an oligarchy. People are just too stupid to believe otherwise.
@Nozdormu1982
3 ай бұрын
naw issue is oversized government and government overreach
@Nine-Signs
3 ай бұрын
I will tell you a bit of history all be it abridged, that the Good Prof Wolff told me and any other who viewed or attended the lectures some 12 years ago. 1937, 4300 rolling strikes lasting a 20 day average that combined destroyed 13.5 million hours of Labor... The end result? better pensions, forms of health cover, social security and unemployment benefits, maternity leave, masses of affordable and social housing, 15 million government jobs paying good wages that built the national parks, new schools, hospitals, rail, roads, dams, bridges, the lot, all paid for by a 92% tax rate on income from any source once over $400,000 in todays money. For every dollar a person got after that 400K mark, they got to keep.... 8 cents, and the rest went BACK to society that had granted them more than ample wealth to live a good life as a reward for their work or lack there in. As for corporations their taxes were raised and an ADDITONAL anti war profiteering tax was dropped on them to claw back any excess profits they were making vis the pre war years to ensure they were unable to profiteer from war and death, unlike today.
@alexglanz7406
3 ай бұрын
Richard Wolff always makes us think and see the world more clearly -- even if the vision is clouded now.
@arizona2010busch
3 ай бұрын
Very interesting interview. This is the information that you won't get in the MSM.
@brendananneduffy1912
3 ай бұрын
Outstanding Analysis,
@gerry4281
3 ай бұрын
This man should be running the economy
@ranar1036
3 ай бұрын
Prof Wolff, with respect, you left out MONEY printing!
@patricklyons7683
3 ай бұрын
...it's also called inflation
@lambertgiang
3 ай бұрын
@@patricklyons7683 and "Overcapacity".
@domenicamassaro8221
3 ай бұрын
Wonderfully interesting guest, prof. Wolff. Thank you.
@longw01
3 ай бұрын
Hi Nima - props frim Dr Wolff is high praise indeed! Well deserved my friend.
@peterfeatherbone6268
3 ай бұрын
Greetings from Australia
@LorimaRBG
3 ай бұрын
To this question - why the Russian economy cannot be destroyed, the president of El Salvador, Naib Bukele, gave a simple and logical explanation to Tucker Carlson: because it is constructed as a superpower country... And explained how they have everything they need 😉😎
@haleybrown2836
3 ай бұрын
The same applies to the US, constructed as a super power and we too have everything we need. This is an oversimplification. Perhaps US's decline is a mere repeat of other civilizations demise, the enemy within, greed, corruption, lack of moral responsibilities.
@96Deni96
3 ай бұрын
Do you have a link to the video?
@LorimaRBG
3 ай бұрын
@@96Deni96 kzitem.info/news/bejne/tmuknoZvpaNphn4
@kirrausanov
3 ай бұрын
American message to the Ukrainians: "You do all of the dying - we can do all of the winning" *** This is all we - Ukrainians need to know about this proxy NATO vs Russia war: Усе, що ми, українці, повинні знати про наших західних "союзників": “Being an enemy of America is dangerous, being a friend of America is fatal.” - Henry Kissinger (?) *** >>>I guess it was the 12th or 13th time to Kiev, and I was supposed to announce that there was another billion-dollar loan guarantee. I got a commitment from Poroshenko and from Yatsenyuk that they would take action against a state prosecutor, and they didn’t. “So as they were walking out to the press conference, I said, nah, we aren’t going to give you the billion dollars. They said you have no authority, you are not the President. I said call him. I’m telling you, you are not getting the billion dollars. “You are not getting the billion; I am leaving in six hours. If the prosecutor is not fired, you are not getting the money. “Well, son of a bitch, he got fired.>If you put aside the immense human suffering and look at Ukraine’s war through the cold lens of international power politics, a clear picture emerges: the West is having a good war against Russia. All NATO has to do is send Kyiv munitions, equipment and money, which, as any general knows, is the c h e a p e s t way to wage war. (...) The lives are being given by the Ukrainians. They’re defending their nation but also, inadvertently, helping decide the Cold War. For 70 years, NATO deterred a Moscow attack westwards. The Russians eventually invaded, last February, what they assumed would be a conquerable target on their south-western border. The war that NATO long prepared for is finally being fought.
@ЗосяЕндрашко
3 ай бұрын
Exactly 👍
@ronsmyth2005
3 ай бұрын
Sucker.
@PiotrPerviakov
3 ай бұрын
Richard D. Wolff definitely knows the subject. 🤓
@sanramondublin
3 ай бұрын
Dear Neema', please have a detailed session with the Professor on the effects of the US printing money without fearing the inflation at home. Thanks from California.
@Tommy-zs6ro
3 ай бұрын
As long as they can keep exporting the inflation and borrowing/spending more, all is well.
@Nine-Signs
3 ай бұрын
US inflation is diverted into asset price inflation via mass asset purchasing and mass gentrifying of towns and cities acros this earth. I live in a small useless British city yet the number of American corporations that have arrived here post 2008 and are responsible for destroying my history and quality of life via mass Us corporate gentrification, is ungodly. As for returns they only ever have to show a 3% return per year on the monies invested in order to satisfy market expectations meaning here in the west where we produce nothing anymore it's all pretty much artificial funny money economics driven by nothing other than speculative bubbles that keeps it all going. To the mass detriment of the majority workforce and their nations, all for the benefit of the capitalist minority and their political and media acolyte alone.
@nats50
3 ай бұрын
Very informative, as always, coming from Nima's guests! Thank you, Nima, and more power.
@jadecraig9830
3 ай бұрын
The yearly US deficit is +/- US $ 9 000 per amercan !!!!!! It is strictly unsustainable !
@marthacmd
3 ай бұрын
i am always WOW by this professor my only source for economics news
@michaelkeller5008
3 ай бұрын
A great analysis! Thanks Nima for bringing such great "claibers" as guests! Good to hear sane people!
@opulenceoche5118
3 ай бұрын
Professor Wolff is the best ❤ Greetings from Abuja Nigeria
@HelloWorldNewsMedia
3 ай бұрын
Thank you Nima for your effort ❤️🙏
@frankmansour362
3 ай бұрын
Even if the taxes go up and borrowing to zero, the money will be spent on the military
@tedchandran
3 ай бұрын
Jai Hind. Thanks to the Ukraine war, Russia economy is now Number 4
@apriliaric
3 ай бұрын
Richard wolf absolutely sees...absolutely how it is....x. wise man
@ronsmyth2005
3 ай бұрын
A blind man can see NATO's mistakes. Like supporting Nazis. Haven't you ever seen a war movie? Nazis never win.
@nomdaploom
3 ай бұрын
Excellent snapshot on macro-economics. Thank you Professor Wolff.
@janmargaret7972
3 ай бұрын
A fantastic interview, thank you.
@jaqikennedy9990
3 ай бұрын
This was a great education thank you so much 🙏 I never understood this stuff & now I do.... 👍 This is fantastic 😊
@songmansteve
3 ай бұрын
Yet another great interview.
@kimly8070
3 ай бұрын
Prof. Wolff goes right to the point. He is always crystal clear. ❤ thanks
@annaweiers2947
3 ай бұрын
Best yet from proff Wolff. Incredible source, authentic man, thanx N.
@petersoakell6950
3 ай бұрын
Wolff speaks with a patient clarity that even I can understand.
@Nine-Signs
3 ай бұрын
the mark of an excellent teacher.
@amywalton4201
3 ай бұрын
Great program Nima, thankyou Richard!
@Jose-hs4vk
3 ай бұрын
The question to the World is - do you want to be on the side of a Declining Empire? or on the side of a new alliance known as the Brics .... those countries that choose the latter will do better in the long run. Those countries such as Argentina will continue to decline.
@paulchamberlain7942
3 ай бұрын
Nothing like a Richard Wolff interview to put cold hard reality back on the table in a world of deception and illusions. Fantastic stuff.
@gregwang8628
3 ай бұрын
Why one country wants to destroy another country? Where’s the religious belief preaching that we should love each other as fellow human beings?
@lilbitsleepy2574
3 ай бұрын
Christianity is being hounded out and its traditional values vilified in the west. But there are still many who follow those beliefs. Just few of them are in positions of power 🤷🏼♀️
@tudomerda
3 ай бұрын
There is one religious group/Tribe that thinks it is far superior to all others and wants to dominate all others, this group is known as the "Chosen Tribe" and its arrogance knows no bounds.
@charles6631
3 ай бұрын
@@lilbitsleepy2574 in simpler words, the west is dominated and led by protestantism, and protestantism is a satanic cult!
@ElenaKozyreva
3 ай бұрын
When has religion prevented you from killing the enemy? In my opinion, it's always been the other way around. For quite a long time, it wasn't someone who spoke like you or looked like you who was considered one of them. Only a co-religionist was his own.. Is it expensive to buy churches to promote the goals of the government? Remove taxes. Ask for support. That's it.
@ElenaKozyreva
3 ай бұрын
You are probably young or you live in a world where real history is not taught.
@michael511128
3 ай бұрын
Don’t know how it works but some channels have auto generated Chinese subtitles -e.g. Ken Abroad, Sun Kissed Bucket List. Would be great if this channel uses that function too.
@pla9012
3 ай бұрын
Lots of work to get decent translation, stock auto generated often wanting
@Auron_24
3 ай бұрын
Love professor Wolffe
@Breese2382
3 ай бұрын
Thank you Nina - love your guests
@anamariacambiaso5852
3 ай бұрын
Outstanding. Much appreciated
@vt-M28888
3 ай бұрын
Thank you Professor Wolff! Always feel so informative listening to your comments and I can listen again and again ☺
@gypsycruiser
3 ай бұрын
Brilliant synopsis by Prof Wolff ! Finally someone had the courage to explain the US dilemma .. as the dollar declines US citizens will just be taxed more..
@MennaLloyd
3 ай бұрын
Brilliant analysis
@DTJKS
3 ай бұрын
Thank you for the wisdoms of Economics, Pr. Wollf.
@annaweiers2947
3 ай бұрын
Good morning my friends ❤🇨🇦
@aliceinabsentia
3 ай бұрын
Very straightforward.
@seeker2118
3 ай бұрын
If the government or government entity have the ability to create money. Why does the government need to tax the people to get what they are empowered to create?
@George-k6o9t
3 ай бұрын
Once upon a time in the USA, people were NOT TAXED on their income. The government didn't need to back then. Check out the history online in how and when income taxes began in the U.S.A.
@Nine-Signs
3 ай бұрын
Think of taxation as a method of destroying money, as a government you have to balance the two.
@seeker2118
3 ай бұрын
@@Nine-Signs Taxation is a method by which the money supply is controlled. As if money was continually created and pumped into the economy without regulation there would be too many dollars (inflation). Also taxes collected in the local currency gives the money legitimacy as if you can't pay the tax you are thrown in prison.
@Nine-Signs
3 ай бұрын
@@seeker2118 I will say again in reply to your question of "Why does the government need to tax " but with a longer explanation. Think of taxation as a method of destroying money, as a government you have to balance the two, i.e. creation and destruction. This is one major reason. Another is the government requires money for infrastructure, education, housing, health, defence, that requires taxation in order to pay for what society and economy requires though again this is more about balance as the US and my own the UK and presumably myriad others do not use taxes to fund government, they use taxes to offset/remove/destroy the monies created out of thin air at the press of a button to suit a departments budget requirements. Taxation is the regulator. Trouble is the burden of it now falls on the majority workforce, not the rich and corporations.
@seeker2118
3 ай бұрын
@@Nine-Signs Well we are in agreement saying the same thing, I guess. So yes taxes are a way of destroying money and creating legitimacy for the currency created out of thin air to be accepted as money.
@aaronhoffman9020
3 ай бұрын
'NICE FOR A WHILE' song I got to be nice for a while I faced a new world with a smile 'Til the empire screwed All the hopes I renewed But I got to be nice for a while I swam in a hope for a spell I hoped that the empire meant well 'Til the empire screwed Everyone they had used I swam in a hope for a spell They made up some words I believed For a moment, I too was deceived 'Til the empire screwed All the words they abused To make up their 'make believe' Repeat #1
@paulflannery2834
3 ай бұрын
We don't have real capitalism.we have enormous government interfering at every turn
@Nine-Signs
3 ай бұрын
The definition of capitalism at least in terms of economics, is by what its key difference is to to other systems primarily regarding the relationship in the worlplace. Master>slave - slave system Lord>serf - feudalism Employer - employee, capitalism.
@greorbowlfinder7078
3 ай бұрын
The people in charge at Washington DC never had a college geography course. Russia has vast resources with a can do demographic. By contrast, the USA is led by incompetent women. Antony Blinken, Lloyd Austin and CQ Brown all come to mind.
@georgegilks348
3 ай бұрын
I always enjoy Mr. Wolff's financial analysis but I do see a problem, America has 2 economies, the one that we see and the one that we don't see, the offshore accounts of the richest in the world, most are Americans. The last guesstimate was pegged at $300 trillion dollars, money that just sits there and does absolutely nothing. Every economist I have ever heard on KZitem talks about the economy we see, America's economy, without even a mention of the economy we don't see, the offshore accounts, which is where most of the worlds wealth is hidden from us. Most people are under the belief that America is seriously in debt and in recession while in reality most of America's wealth is hidden offshore where it is not taxed. Now, Mr. Wolff, is America really in a financial crisis??? What crisis? Go to Monaco during the F1 races and witness the display of American wealth. multi million dollar yachts in Monaco's harbour, the vast sums of money being gambled away in Monaco's casinos, a flagrant display of wealth beyond our wildest dreams, the money that we don't see and nobody is even talking about it, the money that is not taxed, most of the world's wealth is NOT TAXED!!! ZERO!!! and Western financial analyst still talk about America's financial crisis ignoring the real wealth in the pirate banks of the Carribean, something that has been going on for at least 4 centuries, the massive transfer of wealth to offshore accounts, facilitated by our politicians who know all about it, being a major part of this system. Time to turn the tables here and start talking about the real wealth. China's leadership has done something about it, passing a law that forbids the transfer of wealth from China. If you make money in China, then the money stays in China and look at China, fastest growing economy on the planet.
@meisuicheong1721
3 ай бұрын
Professor telling it as it is...fair balanced....thanks nima for bringing him on... Sadly, we in the globalrest believe the collective west is too arrogant to listen to advice given by their own intellectuals like the prof.
@longw01
3 ай бұрын
woot! 😊
@adrianmorris5546
3 ай бұрын
Profesor Richard Wolff is a brilliant analysist with such an amazing understanding thank you Nima we all learn so much thank you ❤❤❤
@ThatMadCat
3 ай бұрын
You tax the rich and corporation and they will move. Just stop spending money on dumb wars and welfare.
@fredtownsend9065
3 ай бұрын
Great interview, thanks
@tamtapa8380
3 ай бұрын
Good presentation
@crystalmortimer4666
3 ай бұрын
Thank you, Professor Wolff!
@goranmarko6205
3 ай бұрын
Mr Wolff, if EU accepted Russia in European Union 20 y ago, we will now talk for a possibility of European century, with all resources available in Russia. Europe would have been in a fight with China, who's century it would have been. US has too many problems to sustain that race. But, because the European leaders are just American poodles, and don't think about prosperity of their people but are led with personal and american interest. Plus, the french, british, German could never accept the russians on equal level. They wanted to be the biggest shots in EU. So, I will say, One big missed opportunity.
@MountaineeringSense
3 ай бұрын
"The Denial" is the longest river in the World! Love the Wolff! I have learned a shxtload from listening to him and his guests in just the last few years. There is a whole different world out there from what I was taught as a boy. But boy! Am I ever glad I stumbled upon Dr. Wolff's great work(s). Thank you both!
@opulenceoche5118
3 ай бұрын
Professor Wolff is the best ❤ Greetings from Abuja Nigeria
@nickpope8056
3 ай бұрын
Russians are the best!!!! Well done, Mr Putin!!!!❤❤❤
@valerietweedie4376
3 ай бұрын
Dima, This is just a guest suggestion - KJ Noh. I think you'd like him.
@BeckyTrudeau
3 ай бұрын
Excellent interview!
@just_a_beholder
3 ай бұрын
Always a pleasure to listen to Professor Wolff! Thank you for another great podcast!
@jasonblack6142
3 ай бұрын
Go rus sia
@mha9578
3 ай бұрын
Boom bush is not a business cycle, but a debt cycle
@paulveenings6861
3 ай бұрын
War cycles peace cycles. Good book to read
@barryshaw5660
3 ай бұрын
Nima always appreciate your videos.
@barrybutler3679
3 ай бұрын
Good lesson in economics.
@jackiemcadam6040
3 ай бұрын
Great stream 👍
@AhmedSharif-ve9cu
3 ай бұрын
Very articulate as always Sir Wolf
@sanmiwu5242
3 ай бұрын
This is excellent. 100% true.
@carlylerogers3529
3 ай бұрын
Or willing to cut spending including reducing the military industrial complex. The choice of Americans.
@quidjacques
3 ай бұрын
The false money game.
@evgueniaafian2398
3 ай бұрын
Yes, exactly, Ukraine’s become a PERFECT EXAMPLE what could happen to other parts of the world, especially to the former USSR republics.😂
@jaimedpcaus1
3 ай бұрын
Ok, he talked about an economy that grows in a nation that's at war. He didn't break down the mechanics of it. We know that Russia sells Gasoline and Gas but what do countries (in general) sell or produce to while at war to create a robust econmy? In order to grow an economy, a nation must sell something, no?
@Zidana123
3 ай бұрын
He didn't break down the mechanics of it because what he said wasn't factually true :x The US didn't get any richer _during_ the course of WW2. In fact it went further into debt! The US grew richer _after_ the war, when it was selling manufactured goods to Europe.
@JohnBeerschoten
3 ай бұрын
Take your time to read: Jimmy Carter: Palestine, Peace not Apartheid; Shlomo Sand: The Invention of The Jewish People, How I Stopped Being a Jew, and The Invention of the Land of Israel; Rashid Khalidi: The Hundred Year's War on Palestine; Yahya Sinwar, The Thorn and The Carnation; Ilan Pappe: The History of Modern Palestine; Dries van Agt: Palestine in Agony, and also A Cry for Justice.
@JohnBeerschoten
3 ай бұрын
Read Shlomo Sand: THE INVENTION OF THE LAND OF ISRAEL. This is a scientific masterpiece. It takes some time to digest and it gives you in-depth knowledge.
@modumodd
3 ай бұрын
This ultra right wing professor does not understand basic economics. The Russian central bank maintains a policy interest rate of 16.0 percent. I repeat 16%. Does he understand what that means? This is to support a very weak ruble. Russia now spends almost 7% of GDP on the military. It is a sharp jump from 3.9 per cent in 2023, and 2.7 per cent in 2021. It is not sustainable over time. However, Russia is experiencing a short-term economic boost because the country's factories are now producing military equipment. It is not sustainable over time. It's like pissing your pants - at first it's hot, but then it's very cold. The question must be whether those who support this understand basic economics. Or are they being fooled by this ultra-right wing professor?
@BryanChance
3 ай бұрын
I've been following Prof Wolff for abput 4 or 5 year as well as Prof Sachs, Scott Ritter and others. I sense that their intentjons are to promote peace. However, I just can't kick the feeling of "deception" from Measheimer and McGregor.
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