🚨 US HEGEMONY ENDS: Economic Decline, Rise of BRICS & Political Turmoil | Prof. Richard Wolff (P. 2)
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- Опубликовано: 11 июл 2024
- This is Part II of the interview with Professor Richard D. Wolff. Watch Part I here: • 🚨US DECLINE: Massive B...
Richard D. Wolff is Professor of Economics Emeritus, University of Massachusetts, Amherst where he taught economics from 1973 to 2008. He is currently a Visiting Professor in the Graduate Program in International Affairs of the New School University, New York City.
Earlier he taught economics at Yale University (1967-1969) and at the City College of the City University of New York (1969-1973). In 1994, he was a Visiting Professor of Economics at the University of Paris (France), I (Sorbonne). Wolff was also regular lecturer at the Brecht Forum in New York City.
Prof. Wolff is the co-founder of Democracy at Work and host of their nationally syndicated show Economic Update.
In the interview, we discuss why foreign countries are selling US debt, how this will impact the US dollar, the rapid decline in the economy as well as the risk of a hyperinflation. Additionally, Professor Wolff focuses on the role of the rising China and the BRICS nations in the global economy.
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Disclamer:
The information provided on this channel should not be construed or relied on as professional advice for any specific fact or circumstance. This channel and its content are designed for entertainment and information purposes only. The content available is created to provide a general overview of a topic and is not a substitute for professional services. Always seek the advice of a finance or a legal professional that would take into account your specific circumstances. Opinions expressed are solely my own. Only publicly available information has been used.
Thanks for watching! This is Part 2 of the interview with Professor Wolff. Watch Part 1 here - ruclips.net/video/o3Vj0pixvWA/видео.html.
Stay up to date on Prof. Wolff's work - www.youtube.com/@democracyatwrk.
Follow on X(Twitter): twitter.com/Lena_PetrovaOnX, Rumble:rumble.com/c/LenaPetrova and Substack: lenapetrova.substack.com/ stay updated.
Absolutely eye opening as always. Thank you Miss Lena 🌹
I did
I try not to miss your show
Viktor Orban presiding the Eusend a clear message to the Eu politicians to consider the realities of the Eu's future .He went solely to meet Zelensky and Putin and then will meet the Us officials to use diplomacy as a way to avoid the inevitable= nuclear war.If the Nato summit favours a nuclear war then Orban did his best to avoid this. He also said that the Eu should stop the Us interfering in the Eu foreign policy affairs.The Eu should make decisions .We don't need the Us to tell us what to do. We are not the puppets of the Us nore the zionist jewish american jews.either.
.🔍👌
US wanted to make a fool out of Russia and China. But instead, the US made a fool of itself. Let that be a lesson.
Karma is real. The chickens are coming home to roost
Sadly this is 100% true. For years nobody I know wanted to hear it(in the US). The sheeple are truly living in the Matrix. Bad stuff coming
This is also why Trump will not solve our problems, esp unifying Americans. RFK Jr is our only hope of stopping Comunist States of America
"Thank a Dem voter near you."
@@GrandSolarEclipse US doesn't want to or incapable learning anything. 😆😆😆
China has the greatest manufacturing capacity. US has the greatest clown production capacity and the greatest national debt.
Get a job
@@brockbah2048Thats his job , what is you, one of the clowns
And Russia have the nature resources. S
How the benefits of this manufacturing capacity has benefitted the population is key.
Our politicians gave China all our manufacturing. Since the 1970s, we’ve lost 98% of our manufacturing to other countries, primarily China. No one stopped them. The people falsely believe voting would make a difference when, in fact, voting NEVER made a difference in our country, especially so from Lincoln forward. This people lost its country with the war between the states and the bankruptcy and destruction it caused, and the hidden hand swooped in and took it over with the Crown Corporation Act of 1871.
US can't be big bullies forever.
of course
Its already over, the propaganda narrative is failing spectacularly now
@bennychua8957Who owns weapons/warfare production in the US, UK,EU? Who control's the USD hegemony? Who own's big banks? Who own's colleges and politician's! The answer is 1 word a greedy deadly word! For 75 years the West, NATO has started close to 100 wars, civil, proxy, coups, Iraq's etc! All these decades the stolen loot and low income taxpayers managed to pay the debts or the poor countries who borrowed at high interest rates with their natural resources being collaterals that they confiscated and colonized! This ended in 2002 when the US planted CIA in former Soviet Union States to start a coup, proxy war! Ukraine war started 2 years ago with Russia defending their own citizen's used for target practice at a cost! Then the usual SANCTION'S! Bravo! How can a US citizen who's basic wages is $15,000 a year, yet needs $50,000 to survive can afford a $100,000 Tesla EV'S? By the time the US actually lays down like Biden the NATO countries won't be able to repay their loans in a century with a great economy! With all the sanction's on Russia, China, EU has no economy no jobs so they will end up bankrupt! A 3rd world country? Like their former colonies? Who said God is not just?
@@tedlahm5740tell that to London
BRICS+ is a golden opportunity to unite. Building a better world, one brick at a time. A mutually beneficial partnership. 🇧🇷🤝🇷🇺🤝🇮🇳🤝🇨🇳🤝🇿🇦 +
Yes. Exactly like the UN 😂
No need to unite....we only need to trade with each other without forcinv the use of just one currency (USD).
A world republic is what we need, not government centralization.
@@InsipidRoustabout yes world coin will solve this
Beware what you wish for with dictatorial regimes which are imperial and have no freedom for either companies nor citizens.
un is u.s made so flawed obviously 😂😂😂@@darrenmanser2847
I’m not a Republican. I’m not a D either. Virtually all politicians disgust me with their corrupt dealings, back door deals, big spending, war mongering, and freedom-denying ways, and fiscally there isn’t a dime’s worth of difference between the two major parties.
VOTE IN INDEPENDENTS .. THEY CANNOT BE WORSE THAN CURRENT POLITICIANS
I'm not american but I absolutely agree as someone looking from outside...this 2 party system has to be revamped.
Well said. Thank you.
Democracy is a myth in US and many of its vassals. The model is broken.
There is Jill Stein and Cornell West from both the Greens and PSL respectively
Such a pleasure to watch Part 2. May it not be long before Prof. Wolff returns.
We are witnessing the decline of this Empire, look at their Command In Chief, gaffe after gaffe. 😂
At least he said the truth about Putin
Thanks to$50 billion gift from Putin... What you get from Commie btw... Worthless Yuan?? 😭
De-coupling is delicious 😋
Hes a puppet, everything you hear @ Putin is meant for you to justify war & hatred of Russia. If Putin looks evil, its bc hes been surrounded by US military bases & countless US lies like Minsk I & II and Ikraine/Polish NATO membership as defensive partners only. They now both have offensive nukes, thus the invasion of Ukraine.
@@greetandries99 And what would that truth be?
Putin invaded Ukraine because the US toppled its government in 2014 in order to make it at least a de facto part of NATO (as part of its strategy to defeat Russia to facilitate its dominance of the world.)
In the ensuing time, ethnic Russians have been the subject of genocide in Ukraine, including 20,000 killed.
If you're not going to believe what the mainstream media say about Biden, but you're still going to believe what they say about Putin and Russia, then you're not worthy to participate in a discussion about geopolitics.
Ms Petrova Thanks for a terrific podcast
Towing lines will lead the E.U. to oblivion. They should have their own foreign policy. Indonesia has a right to protect its interests.
VOTE IN INDEPENDENTS .. THEY CANNOT BE WORSE THAN CURRENT POLITICIANS
Sadly, people with common sense like this professor are not in positions of power.
He does not have much common sense, in line with most mar cysts
Yes, you do as much as you can, and you do a wonderful job at it! So happy to see part two and have gained a lot of respect for Professor Wolff. Thanks for sharing.
Wolff is beyond wrong about his silly ideology
Thank you Dr Wolff.
Ms Lena,
You have excellent guests on your show. Thanks for your hard work and critical information for my family.
We in Ireland are hosting some of the biggest US tech companies. Why are they here? because it is cheaper for them. But where is the patriotism in that? There is no patriotism, it is ‘Make capitalism great again” not ‘Make America great again. American capitalism is eating America from the inside out, and we in Ireland are one of the beneficiaries. Yes, they will move on to another country when they get cheaper rates, but for now, it is a tax bonanza for us…while homelessness and poverty stalk the US. The American people should recognise what is happening and rise against it.
A Great conversation Lena and Prof Richard Wolff. Thank You.
Thank you professor Wolff for being a voice of reason and sanity in a world fixated in appearances and impressions. And thank you Lena. You are an amazingly intelligent woman shedding light on the world’s most important matters of our times.
Thank you Prof. for reminding the arrogant US selfish establishment. History teaches us there are ups and there is inevitable downs.
Satan is their God 😂😂Satan mission in the world is destruction 😂😂
But we need to be clear on the consciousness & policies that cause this to happen. Conceit, greedy arrogance & moral disintegration created by "anything goes" mentality & actions. We see this in ultra entitled individuals as well as nation states & empires.
To quote 1984;
The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command.
Also, " When everything the American public believes is a lie, we've done our job."
Evil Duopoly = Republican & Democrat/ puppets of Corporation$
USA has to blame itself.
The crown 👑 corporation of the City of Palestine. Washington DC it's a daughter. The admiralty law.
*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*
Hello , I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?
Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Andrew Louis Stella, has been an amazing experience.
Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down 🤦♀️of myself because of low finance but I still
believe in God
I'm favoured, $60K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Ms Louis Stella 😊🎉
Good day all👍🏻 from Australia 🇦🇺. I have read a lot of posts that people are very happy with the financial guidance she is giving them ! What way can I get to her exactly ?
As a UK citizen born in 1956, now living in Canada I can confirm conditions 2024 are changing, and they are changing fast, although subtle.
We are waiting for the last whistle or trumpet
Blows.
.
I would say that the changes are not that subtle in Canada. The country is becoming a failed state.
Today I was in Middlesex, London Ontario. I was a minority. Five years ago I was the majority. 25 years ago I saw my first black person. Culture Shock.
Unfortunately it isn't for the better .
@@tonycodolo
A failed state or a government run state, it'll never work lol.
I loved to see professor wolf on. Would love to see him again
he has a show. democracy at work.
www.youtube.com/@democracyatwrk
Why does the U.S. mainstream media neglect to recognize and inform us about BRICKS?
Perhaps the politicians and the media are truly afraid of answering hard questions i.e. the truth.😊
Mainstream media is owned by the cabal
@@robmcnaughton6918 They're completely conspiring. That is the correct answer. They've hijacked the country and rule by hiding and keeping silence on what looks negative for them.
Well, the Washington Post is owned by Bezos, right? If BRICS wins, then our oligarchs will lose. And all the other media are the same. Even NPR relies [on] corporate money.
I understand no-one saw the left happening in France but what Prof. Wolff did not mention was the deliberate voting manipulation by the two parties (Macrons party and the leftist party) not standing candidates in certain constituencies in order to concentrate votes against Le Pen's party, hence the difference between Le Pen's first round success and second round failure.
This professor also happens to be a Marxist
No such thing as fair elections anymore. Guarantee this US election will be manipulated in FJB's favor tho its highly unlikely he'll be the candidate. Enter Killary the Beast
Since when is the strategy of choosing who to run and not to run is voting manipulation?
@@gelinrefira It is not voting manipulation, but it does not reflect the real balance of opinion. Anyhow, the left-wing governments in the US, UK, and France are a blessing. They will just make the end come faster.
@@gdiwolverinemale4th huh, does not reflect real balance of opinions? What does that even practically mean?
The media should help the people out by keeping them informed. Not knowing will make the downfall of the dollar painful for a lot of people.
Corporations dont give a cr*p about our well being, everything in our govt is captured, EVERYTHING
They own the media. Haven't you noticed they're not saying a word about the mess the U.S and it's closest NATO allies, have made in Eukraine.
Not a bad word is written about the W.. E.. F, the CO VID, pandemic or the billions given away to their fiends. Lining their pockets, before the next, plandemic, ( bird flu.) to cause a permanent lockdown.
Tha vaccines for it are already in the making.
this man is smart
🇫🇮❤Lena & prof. Wolff for their knowledge, wisdom & integrity.
Thank you both tremendously.
Bless. & Bliss. ❤❤😊
What goes up must come down, basic physics, the empire arrogance and the hegemony won’t change anything, that’s the law of the universe.
Lena! I compliment you too!
Very good conversation.
Thank you.
Professor Richard D. Wolff is your most outstanding guest. Thank you for this wonderful lecture.
no he's not. His was part of the establishment who lead us in this situation. Now he changed his side when the ship is sinking.
Most Excellent. Thank You Professor Wolff.
Miss Lena? The Professor nailed it. You are a blessing to the public you are serving. See? My compliments are not hollow.
Most grateful !❤️🌸🙏🌎😊
Excellent analysis.
Lena you have a big job to present the truth to the masses of idiots!
This is very true thank you so much ❤❤
Wise words from a wise man, thank you!
Excellent, Prof Wolff. Thank you Lena.
Always look forward to hearing from you and your guests. You are doing important interviews, that everyone should listen to, to wake them up. Wishing you good health, strength and perceiverence to continue!! Much respect!
Your videos are very informative
Intellectually honest individuals such as Lina Petrova and Professor Wolff should be seated in the highest levels of government. That they are not spells doom for the economy, the country, and the future.
Thank you Lena excellent and very educational interview! Please have this gentleman on again.👍
Excellent passionate guest. Enjoyed the analysis and commentary. Thank you both.
Profesor Richard Wolff is such an amazing analysist and economist you bring such an incredible background history and the honest truth and thank you Lena Petrova you are brave enough to tell the truth
I JUST LOVE LISTENING TO TRUTH WHILE WATCHING LENA!🥰🥰🥰
What truth? The left in power will bring prosperity? Beyond a joke
Professor Wolf is awesome. I’ve followed him for years.
Great show and guest, Lena. I'd like to add something: with all of the info accessible to us today, the only reason anyone's ignorant is they choose to be so. Sometimes we make people out to be sheep who have to wait to be fed when they don't have to wait to be told by the 'mainstream'. All that's required is INTEREST and too many of us don't have it. Point Blank!
Thank you very much ❤
I keep hearing that china etc are dumping US treasurery bonds. But who is buying. (And more importantly 'why')
Excellent presentation 👏.
Fantastic Conversation as always Prof Wolf 👍
Very wise words in the summary, Prof.
I do agree with his financial outlook for sure. TY dear for sharing...
Thank you Lean.
Your work is special!
We come from dust and we return to dust..Everything else is just noise..The planet will survive long after we've gone..🙏🌍
True but we are morally & spiritually obligated to challemge this evil insanity, the mass murder of innocents human & otherwise. Im not a big God guy but this is 100% clear to me.
Even if you know the hour is coming in one hour but still put a plant... We were put in this earth to fix and stay positive...
Prof Wolff is great. Thank you
Lena is my dream woman, smart, beautiful and thoughtful. The American empire didn’t last very long😢 corruption and greed is destroying this country. I appreciate your shows.
Mrs. Lena Petrova is a sophisticated lady that allowed her guess to explain their concerns about the economic and it social impact on global trade. Thanks again Prof. Richard Wolff for an outstanding analysis. God bless you sir. God have mercy 🙏🏻
You interview the right people..
Great work you are doing Lena… We love you child of mine …and are proud to have a daughter like you…God bless you and your family❤❤❤❤❤❤❤❤❤❤❤❤❤❤
Excellent analysis ❤
BRICS motto..
“Strengthening Multilateralism for Equitable Global Development and Security”
❤❤❤
Excellent economics lecture, thank you
Very good content, Thanks
I learned a lot from each of the intellectual discussions. Thanks...
I agree with the professor
Great conversation!👍🙌👏👏
eagerly hoping what the title said become reality very soon...
It's nice 2 hear reality !!!!
PROFESSOR WOLFF - YOU ARE BRILLIANT! SUCH CLEAR EXPLANATIONS!
THANKYOU LENA!
Best Wishes from Australia.
Really really great. Thank you so much. Super informative and thought inspiring……..❤❤
Excellent interview! Really appreciate guests like Dr. Wolff! Thank you for continued efforts and just excelling yourself each day!
Bring Alex Christoforou and Alex Mercouris on your show more informed
You have to know the dots of history to know what is to come.
I have gathered more information from your guest.I always enjoy listening to him. Thank you Lena and thank you Mr.gemtleman.
Thank you.
Two beautiful people!
I sincerely agreed with Dr. Richard D. Wolf that US Economy (ie.absolutely descending whether US like it or not).
Thereafter, its worldly political dominance will follow (whether US like it or not).
The ONLY OPTIMISTIC panacea for this UNAVOIDABLE DESCENDING DIRECTION is the power of REASON & SPIRITUAL FIRST-AID.
REASON includes facing WORLD REALITIES due to US colonialism/imperialism policy (politics & economy).
The wounds, pains, sufferings of the victims made by the West or US foreign policies from First World War 1 to the present left INDELIBLE SCARS physically and mentally that makes THE WORLD now gradually abandon, avoid US or West connection.
Total abolition of US-CIA Authority or State Foreign Policy that designed VESTED INTEREST (imperialism/colonialism).
Another excellent piece. THANK YOU. Historically, socialist society tends towards capitalism and capitalist society tends towards socialism, which simply explains the election results in France and England.
The problem with comparing to other countries who have experience hyperinflation, is that as the reserve currency, the US has certain privileges but also issues and the US have a unique way to enter hyper inflation
Some economists seem determined that the US will have no issues with the national debt because they can "print" 100 trillion by changing some figures using a computer.
They are correct BUT none of them dare talk about the morning after and that is hyper inflation. They also do not dare to talk about the impact on foreign countries who had continued to use the USD as the main trading currency up until the debt wipeout.
The de-dollarization is a defense mechanism to prevent exactly that, the impact on these countries due to the USD
Thank you for your far-sighted and professional economic analysis. The incompetence of organizing the successful activity of the balance sheets of the current authorities will lead to disaster while they gamble in proxy wars. The chain reaction of bankruptcies will be irreversible without action. It resembles the movie The Big Short 2015
history professors can chime in on prof wolf's dialogue...
Love this guest thankyou
Thank you Lena for the amazing video! 👍
Shay checking in from dublin Ireland thank you ❤❤❤❤❤❤
Given the arrogance and disrespect with which the US has always treated other countries, I believe that they would have no second thoughts about defaulting on their debt and letting all the countries involved to have to deal with it as best they can.
The quality of Western leadership is the reason for their decline
Your guest is one of the best. Couldn't wait for Part 2 with him. The world is moving towards a great change in power and I'm with your guest in saying I am optimistic that we don't go down the road to nuclear war. Thank you.
Thank you
Closing statement is great.
Great show !!!!
Thank you Lena
We have a left party and candidate it is Jill Stein and the Green party on the ballot in November
Thank you very much. I really apprecaite this conversation.
Two beautiful people together thanks for this interview very interesting and it’s nice that some one can explain this so even I can understand this
GO BRICS! ☮️
It is really refreshing listening to people who present their interpretation of the meaning behind data and phenomena rather than just selectively presenting propaganda.
I have been considering the case for tariffs - what I've come up with is that pre-WW2 the economy of many countries was insulated by the tyranny of distance. This presented an environment where all sectors across a local economy could balance out because as they competed locally for resources. Local economies now compete for resources globally, while some sectors like the labour force and housing are still constrained by the local economic and legal environment. This causes imbalances that in some cases exclude local people from participating for basics; and in other cases give other sectors unbalanced advantages beyond their objective merits.
To provide a metaphor, where an individual is the economy - this is like one person only being able to do one or very few productive activities and only being able to eat one raw ingredient. In other cases it is like giving someone one raw ingredient and then taxing them 100% and then expecting them to be productive.
Tariffs can address the odd duality of part of an economy being constrained to local considerations while other parts compete on a global level.
Redundancy builds resilience, which is why aeroplanes have redundancy built into them despite the effect of having it being that the redundancy increases inefficiency.
Now in the case of the US, there is no argument that supports continually living beyond its means that I can think of.
Thanks for sharing!
👏 BRAV-OOO 🎉 Lady Lena 🎉 Sir Richard 😮 👏