Economic Update: Debris From A Declining Empire
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- Опубликовано: 28 сен 2024
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[EU S14 E10] Debris From A Declining Empire
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This week's episode of Economic Update we discuss we discuss United Kingdom politician George Galloway by-election victory, and the raised minimum wage in UK. We will comment on Elon Musk's lawsuit against the NLRB, as Trader Joe, Starbucks, and Amazon also join to ask right-wing Supreme Court to gut regulation of business. We then look at US protectionism as the Biden administration raises tariffs on Chinese electric vehicles, in an attempt to keep Chinese EV's from US markets. Then in labor news we discuss Starbucks’ negotiations with unions and how Michigan’s legislature killed "right-to-work" law after 58 years.
Finally, we have an Interview Richard RJ Eskow on the current decline of the “US Empire”.
Richard Eskow is a journalist and host of The Zero Hour. a syndicated radio and
television program. A lead writer, speechwriter, and editor for Bernie Sanders’ 2016
campaign, he was also a featured columnist at The Huffington Post. He worked for
years in the corporate world, with governments and with multinational organizations as
the World Bank, specializing in healthcare financing, policy, and information technology.
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Thank you for updating your listeners on the Rochdale news where George Galloway MP was successful in thrashing the mainstay political parties. Massive respect from Gloucestershire. UK
Richard is Sooooo right Our country has not been a democracy for a while!!!! The people are going to have wake up BIG TIME!!!
How can they wake up eating all those wings, burgers and tacos, drinking Bud Light and watching Football, Basketball and Baseball every passing moment? Life is Good
I'm not sure it ever has.
@@scottdavis3571 From the beginning, our country was ruled over by an oligarcy. First it was educated, wealthy, land owning white men. Today it is billionaires and multinational corporate people. Still mostly educated, wealthy, land owning white men though.
And then what?!?! The thugs at the top have no intention of going anywhere.
Many of the people just need the right movement, or pathway to show them change can happen. so many are already awake the situation, (to varying degree's). We just need to help finally create a coalition that can truly bring the change needed. PSL is my party of choice, but man, if they socialist alternative, DSA and major progressive wings of the DNC could actually get behind something, like Bernie again. Ideally someone less committed to the establishment, but honestly just a way to get all of our forces together again. I keep waiting watching, donating and hoping one will pick up steam. Some things to keep an eye on Workers strike back, along with the connections unions are making (UAW), and tying their contracts together.
Remember that when professor Wolff compared the British and the American minimum wage, he didn't mention that the British minimum wage in the rest of Northern Europa is regarded as a joke. Nobody in Denmark would take a job to 14 USD per hour - the equivalent to the minimum hourly wage here in Denmark is around 19 USD, rising to 20 USD later this year. Cheers from Denmark!
Cheers back to you! I would love to visit your nation one day. Denmark is sane. The US and its economic elites are insane.
Good for the Northern Europeans. We’re trying but the Capitalists are still controling things!!
Trump is the one who put tariffs on everything. Can't believe some want him back in
US isn't a very good place to live Way too much government and corruption.
You're not wrong, but we do live in the belly of the beast, with the most experienced and skilful ruling class with the most extensive and intelligent propaganda system in the world. Our public discourse is moronic and deceitful. Reality and good sense rarely get a look in.
Depends what you buy with it too.
"If voting really mattered, they wouldn't let us do it." - Mark Twain.
man this word must come from a wise man, Is that the dark truth behind democracy?
Well quoted. West supports democracy in other countries because it is easiest formula for corruption
@@kensyjolicoeur Wise enough to Keep My Shut, if ya know what I mean.
Corporations can hire and fire you for anything and everything and We have no rights. It’s happened to me before and all it takes is one or two people in management to write fictitious reports on you and you are gone. And they can fire you and say you threatened someone or you were a bad employee and you have no way to defend yourself. Even when I made a report about their abuses, the department of regulatory oversight told me I needed employees to collaborate my side of the story.! I contacted 6 different current and ex employees and they were all afraid of being sued or losing their jobs and they all refused to cooperate and provide me with any statements. But even though I felt terrible for the way I was treated , I heard stories about people who have worked for decades and get fired over something minor. It’s insanely frustrating..!
Yes it is. Institutionalized bullying.
In US in recent years, some courts have ruled in favor of workers civil
& political rights. This is potentially a great breakthrough
but is just beginning.
Trade unionists in many countries complain that when 1 goes to work, 1 leaves 1’s countries constitution outside the employers doors.freedom of speech, assembly, etc.?
This is true. They can also force you to quit by making your life very difficult.
Yeah, and was arguing wit( some guys who downsized out and factories shut down, and they were defending the Corps, the wealthy, and Trump, and they would not listen when I gave them cold hard facts and figures. They prefer to listen to the lies of Trump!!!
Another fantastic report. Truly appreciate your journalistic integrity throughout the years.
We are living in a fascist state.
Mussolini said, "'Fascism' would more approximately be called 'Corporatism' because it's the merger of State and corporate interests."
Yep, it fits.
We aren’t free and I’m tired of pretending that we are
One would have to be a drunken slave to obey the will of a thug like Putin.
Fascism IS a form of socialism. Lol
@@kateoneal4215 OK, then we're living in a fascist corporatism state.
Congrats to George!
As i see, in the u.s. we only have a uni-party controlled by the oligarchs who have funded the politicians.
Unfortunately, many countries have « 2” parties that are now
(or always were) only 2 factions
of the same 1 dominant party.
Bingo. No one has an answer for that.
@@samaval9920 Or, as George Galloway would say, “Two cheeks of the same backside”.
If you can’t see the difference between MAGA republicans and the dems well you’re not looking
@edc1569 oh, there's a difference. The democrats use lube.
What I absolutely love about Galloway is that I think he is a totally honest guy that will NEVER feed you with any lies, bullshit or doubletalk. Even if it's something I wouldn't agree with I could be sure on where he stands and what he thinks. His honest character is totally refreshing in a world of lies and deceit.
First time I heard this guy I was like who the hell is this communist get him out of here, then 2020 happened. Here we are in 2024, and we live under communism. At least this guy wants to do it the right way… 😂
I love this guy. Speaks the truth.
Keep up the good work Richard and team! I look forward to your episodes every week or whenever they are released 👍
Really good program today. Got a couple new insights. Long time fan!😘
same here. Thank you.
The minimum wage in Australia is $23.23 per hour.
THAT AUSTRALIAN DOLLAR
HOW MUCH US 14-15.
@@moemimouni679
Yes obviously! DUH!
@@moemimouni679So twice the minimum wage in some states?
$23.23 AUS dollars = $15.36 US dollars.
Those are today's exchange rates.
Indeed. Thanks for sharing. What's interesting is purchasing power. What can that 23 AUD get you in Australia v/s minimum wage in the different cities of America. I'm guessing I'd still be looking to rather be in Oz.
RJ is such a good man, someone to trust is working in the interests of the regular person in the US, but not excluding anyone in society. Thanks RK and Richard much appreciated
Second, but with something to say: The professor is spot-on with his economic social analysis.
Go George G!
An end of a Empire, history repeats itself. Apparently there has been 38 Empires that have collapsed over the centuries. We the Western Empire will be no different.
All the cans have come home to roost ....
Thank you for making this ad free.
Tuesday speech in Parliament 👍
Very informative, thank you!
Thank you for very helpful information for the affected future of American society and their success.
AMLO said: USA 🇺🇸 Should send us the Statue of Liberty 🗽. Because, there’s no more democracy in USA 🇺🇸. Why don’t they Free Julian Assange? ❤❤❤😂😂😂
Part of AMLO's legacy:
AMLO rolled out a list of 20 constitutional and legal reforms for Congress to consider, including:
reaffirming the right of all Mexicans 65 or older to a pension with annual increases;
providing pensions that pay 100 percent of the last salary of retirees who are enrolled in the federal government’s IMSS and ISSTE systems;
assuring economic support for disabled persons and scholarships for low-income students;
guaranteeing that the increase in the minimum wage is never below the annual rate of inflation;
and providing free health care to all Mexicans.
In addition to giving constitutional protection to an array of existing social programs launched during the López Obrador years, the reform package proposes trimming the number of Congressional representatives and senators, instituting guaranteed prices for farmers, prohibiting GMO corn for human consumption, banning fracking, slashing Supreme Court terms from 15 to 12 years, selecting judges by popular vote, and outlawing animal abuse, among other measures.
And what do we have in the U.S? *Nothing!*
The news section of economic update was terrific. It gives one some much needed hope
Imagine someone in the US with George Galloway's sword of truth and oratory ability running for president in the US.
In his way, and for a time, Bernie Sanders was that person. Was.
Ralph Nader. Older now, but still sharp.
RFK
@@kiwitrainguy Despite his good environmental record, his unconditional approval of the ongoing Gaza ethnic cleansing leaves me cold.
OK, in that case Trump is guaranteed of victory.
He is probably on the Israeli payroll like Biden.@@StephenGoodfellow
It is time to vote for peace.
I live in Northern Ireland, and even though he claims to be socialist I consider him an acquired taste that I have never really settled on. That said, this is the 4th different Parliamentary seat George Galloway has won and is only matched historically by Winston Churchill so he has certainly overachieved on that basis !!
Hello to the north of Ireland.
INTERESTING STUDY .... GREAT TALKING POINTS PROFESSOR WOLFF ... SALUTE 🫡
American Indian activist was asked (about 20 years ago) if Amerikans were "still evolving "
He replied, "Sure, they're still evolving ... right into their own extinction."
Which was just his way of saying "the bigger they are, the harder they fall ..."
The slave-forming minimum rates of pay of the US tell us that slavery is not totally eradicated in the US. Some people need to do 2-3 jobs concurrently in order to survive. Workers still cannot form a union freely in this country.
I wish General Strike would report for civil disobedience duty.
They made it illegal because it was too effective.
The shift is occurring that workers continue since 1776
Capitalism looses steam from spreading ‘freedom’ and ‘democracy’ 😂
Such great news for Britain 💙💙💙
'We covered the whole world in 60 minutes. I was very impressed by his knowledge, by his sharpness, by his flexible mind. I was very, very impressed. … Syria is lucky to have Bashar al-Assad as her President.'- George Galloway; 'our Excellency, Mr. President (Saddham Hussein), I greet you in the name of the many thousands of people in Britain… I salute your courage, your strength, your indefatigability.'- George Galloway; 'So I don't believe that Bucha was a war crime I believe it belongs in the long line of false flag operations used to trigger war.'-George Galloway...if that's socialism professor, you can have it.
Didn't RUclips music just fire workers for organizing.
Thanks
Great comments. Ariel Durant sees the debate between freedom and equality. Fascism is freedom for the few...
I read the comments of various economists who point out that when China goes toe-to-toe with the USA in America's own game of capitalism ...and manages to out-compete them, it's Sour Grapes we get from Washington.
The USA wants to be top dog.
i live in Leicester not far from Rochdale and i m not surprised he s been elected. People in Leicester feel the same , they anti conservative vote has never been stronger.
A great vid professor keep them coming.
Thanks for union and Department of Labor updates.
A declining empire is at its most dangerous n will lash out aimlessly in all directions trying to drag the world down with them
@albwilso9 wrote "Our country has not been a democracy for a while!!!!" -------------
My question: When was the U.S. a Democracy?
Before black men could vote (1868)? Before women could vote (1920)? Before true Americans (Indians) could vote (1924)? Exactly when were we a Democracy?
I subscribed to your show , ty prof
Almost any endeavor in the United States you can name such as education, health care, religion etc. has at its main priority to redistribute money to the wealthy aristocracy.
Richard and Richard 💜💜
JFK : Manmade problems are for mankind to solve.
I didn't hear anything about consulting with Pat Robertson or even Reverend Willie.
love and respect to Dr Wolff. Where is America's George Galloway? We thought it might be Bernie, but he is not in the same league. UK has the same duopoly situation we have here, but it exists in a context where there is a legitimate lefty tradition Labour was true to its name for a period ending with Blair, and then had a brief resuscitation with Jeremy whose hopeful leadership was crippled by a zionist, US coup. Sadly across the pond we are adrift, long cut off from our lefty tradition of 100 years ago. Share Dr Wolff's work, organize and support each other. The left needs to rise as there is a storm brewing to our right.
From my readings, what is being done presently by the US government in Ukraine and Plaestine is a 400 year proclivity from the beginning of the European mindset of slavery and extermination of any sovereign act of self-rule. Submission or elimination through financial and violent means has been the American motif for a long time and that favored approach is on a global display
Thanks doc
My wage is equivalent of 15.36 USD per hour (£12). I live in Scotland and clean for a living. The American minimal wage is laughable.
Starbucks workers solidarity forever ✊
in Nederland the min wage is € 13,27
it includes a min of 24 payed day,s of vacation time , close to free healthcare etc etc etc
@~24:00, in 2016, Bernie's loss to Hilary showed us just how little our votes matter. We were all excited about Bernie, nobody wanted Hilary, but we're not billionaires. So, it's Hilary we got. Now we know that we can't wait for the billionaire class to give us anything, we need to take it.
We seem to be moving in the direction of the authoritarian parts of a socialist society without gaining the egalitarian or humanitarian parts.
Is anyone really surprised, the good folks of Roach-dale voted for Mr Galloway? 😂
😄😄😄
One thing about Chinese electric car, is that there is a strategic imperative for China to develop it. Traditional gasoline car market is already dominated by Germany and Japan, and hydrogen fuel cell have most of its patents held up by Japan. China has a small to moderate reserve of petroleum and must important large quantity of it from the middle east, by sea through strait of Malacca, which is very vulnerate to US navy. To have a domestic car industry China pretty much have to invest into electric car, and as you know, necessity is the mother of invention...
Anybody out there remember who it was who said “ politics is show business for ugly people”?
'Politics is the entertainment division of the military industrial complex. ' Frank Zappa.
@@normankeena Nope, Zappa was talking about the government.
Chinese bought 1 million EV in 2021, 4 million in 2022, 8 million in 2023 out of total 30 cars. China has over 4 million EV chargers and still installing more fast, complimented by some 3 million 5G towers. The next generation fast chargers will enable 10 minutes charging to go 200 km or 120 miles. The cheapest BYD is only 12,000 dollars while they also have the most expensive in 200,000 dollar range.
1. Professor, it would be great if you could find interviewees who speak from the heart instead of talking in circles.
2. If some day Sanders was/would be an option for the young - I am sure: Not today!
Thank you very much Professor.
#judiasporPALESTINAS
Space x sucks.
We are a society of denial and extremes but we are also a society where Capital does not have to be the general form of our social reproduction. So it does not matter if you are in denial or extreme the process is happening anyway.
The superabundance we have opens up a new industry that a huge number of craft people producing custom articles made from the excess material of the capitalist system will rise. Once sugar is extracted from plant material and applied to power machinery the established markets of the oil industry will shrink more people can afford quality that hand labor alone can produce. This will most likely take hold in the development of recycled fashion using material recycled in large scale factories by the tons and articles thrown away bought once never used again is a changing attitude about ourselves in relation to ourselves as a species engaged in a process of change with nature.
So Mr Wolf you would like to treat the United Auto Workers and suppliers who are unionized the same way that Chinese workers are treated so that we can remain competitive.
What is freedom? FREEDOM is to do right for others. "Freedom" for oneself is selfishness.
The 2 Richards are 2 of the good guys.
❤❤❤
R J 👍
The "rights" and "freedoms" demanded by the bourgeoisie must be called by the right term, ake privileges!
start to a new awakening towards changes that will benefit UK people and in the long term the world as a global family?
If the employer it’s a bad employer and exploit the employees, why do the employees work for that employer?
That’s the question nobody ask and nobody wants to answer. It cost money to run a business. Employees doesn’t risk their money, the employer do.
Bought my EV that was made by American workers made in Chattanooga, Tennessee. American Workers were paid to produce it. Will not own anything from China if possible. American business sold America to China. More power to American workers.
we live in the Profit era
George got 16% of the people of Rochdale to vote for him.
Electric vehicles are not better for the environment perception of the lithium is extremely polluting and you have to have slave labor in Africa to get that Cobalt which is mainly children and the process is very polluting, so sadly it's worth the oil, we need to go to hydrogen
Question - so in the first part of the broadcast it is noted that certain companies are trying to get around labor laws, presumaly so they dont have to pay their workers more yadda yadda yadda. Lter in this same broadcast it is noted that we (western world) cannot outcompete other countries such as china in electric vehicles. Do the chinese have to obey the same types of labor laws which increase pricing,. etc. that these companies have too? Is it a fair comparison when taking all factors into consideration?
Interesting about Michigan repealing their right to work law, but how will that help the unions. The Supreme Court basically made the US a right-to-work country with the Janus decision.
And they were completely right to do so. People should not be forced to pay unions just to work a job.
@@ExPwner they shouldn’t be collecting the benefits that the union negotiates.
With all due respect to Richard, I think it is a matter of freedom. When your "freedoms" demand others give up their freedom, that's a privilege.
A corporations policy book is giving up your rights
tocayo (person with your same name) - from Spanish
s - Con respecto a una persona, otra que tiene el mismo nombre de pila que ella: "Tu hermana Laura es mi tocaya"
Sir, i absolutely agree with everything to teach your the best! BUT, even if the minimum wage goes higher the everything goes up!?!? What’s the point? Here in Canada minimum wage is 15$ as a result my boss increased prices and cut the hours down. The problem is not the minimum wage! 😂
You understand it’s the corporations and employers that control that part right? They want to maintain their profits, salaries, and bonuses at the expense of the workers and consumers. Stop blaming yourself and the working class. The ruling class is and always will be the problem.
America should abandon cooperate lobbying .its another word for bribery.cooperations should not be allowed to dictate policy❤
Россия Великая..Британия (компания)!!!
Rochdale, not Roachdale!
You implied the need for the United States to be more competitive so that domestic manufacturing would not need the protection of the tariff, Isn't one of the reasons China is more competitive is because their workers get paid much less that U.S. workers get paid?
SSSSSHHHHHHHH!!!!
Makes questions about it being a real empire
China EV cars out-do the mileage per recharge by a LOT!!!
Карону марии романовой ЛОТ?
The work is now more important than the cost savings from buying overseas. The public is both buyers and sellers of cars. So are you advocating for buying even more from China?
Slaves-masters = Employees-employers. Not much has changed in this dichotomy. The wealthy rule and take everything . The poor try to stay alive while doing all the work.
Today in every political party are only two sides-------dogmatics and pragmatics.
Sorry prof. Wolf but if Chinese companies want to sell cars in US they must build them in US with US workers!
Richard D. Wolff ✡
Yes!😂
Chinese BYD EVs are more environmentally friendly and energy- efficient indeed. They are for the common good of the general public. Denying the ordinary Americans of benefits speaks volumes of US pathetic politics.
Comments for the algorithm
I don’t give a fuck about those Chinese EV’s, I do however want a Toyota HiLux. Drop that terrif
Bernie had a big hand in destigmatizing socialism and waking people up.
Then he caved to Biden like a sellout!
Hahahahaha.
@@badkyat4lifeYeah - that came full circle didn't it? Very sad that so many were let down by this turncoat.
Q bochorno deve sentir los políticos d este país,con eso del salario mínimo y d seguro el costó d vida es más bajó,aunque sea un pais capitalista,aunque puede ser para q la monarquía no tenga protestas 💪🏾🇵🇷🇵🇸
Реклама)))..ВСе что они могут!!!
Trump should offer Bernie the VP job.