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🚫🇺🇲🚫 Many depositors are Foreign Corp at SVB. They all know FDIC only insurers 250k. Yet, TAXPAYERS WILL BAIL ALL THESE FOREIGNERS CORP OUT! THE same Corp that lobby/ bribed our corrupt congress against American workers' interest.
Louis P. Shuster, a proud member of the Brotherhood of Locomotive Engineers and Trainmen (BLET), employed as a Norfolk Southern conductor, was struck and killed early Tuesday when a dump truck collided with a train car in Cleveland. No news coverage has been done, NS doesn't want to take any blame... My son in law; used to work for NS; that's how I found out...
Let me put it another way that makes it worse to think about. When the profit is made it is because the owners and officers are so good and smart, but when there’s failure, it’s the fault of everyone but them, even if they have never did any business with them and probably especially because of that. No? Well that’s how it is treated. Profits are given to the owners and officers. If they fail, the burden of that failure is on you. Your taxes are treated as if that’s what you’re paying it for. Again: ain’t that something?
what make you think socialism or communism anymore fair. moved back to vietnam 2 year ago and all the communist's leadership are the wealthiest one of all
All of these are based on believing the bankers told the truth, the whole truth, nothing but the truth, and no fake news. In other words, American bankers are the most honest and trustworthy Americans, especially bankrupt bankers, because their honesty has been proven, and no one doubts their honesty. Judging from the fake news everywhere, even during the presidential elections, the USA must be governed by the Bankers Party. Bankrupt Bankers Party are the best because they are the most honest and trustworthy Americans, and no one even suggests they may be lying. So, the American election must be between the parties of bankrupt bankers and the still-in-business bankers because, in them, we trust, with our money, the highest possible entrustment in a capitalist country. So, the CEO of SVB must be the president of the USA.
I've never heard of Jordan Chariton but I always research recent videos of Professor Wolff and i'm glad that he is willing to go on these channels in order to reach a wider audience that actually cares to listen to what he has to say. Thank you Jordan for having such an amazing guest on your channel. If you would like a guest that can describe what is going on with Ukraine, I would suggest none other than Professor John Mearsheimer from the University of Chicago. Thank you again and I wish all of you luck on your journey for knowledge. :)
Years after flint and they can help, months after East Palestine and the government can't help but the moment of corporation needs money, they can't get money fast enough to that corporation or to some wealthy family. It is said that in the Halls of Congress, it took 30 minutes to get Congressional approval to bail out these banks
It's worse than that really. They dont even hold accountable Norfork Southern for making lies and false claims about how they will "help" the citizens of East Palistine.
Who else finds it deeply concerning that America invests a disproportionate amount of time, human energy, and seemingly limitless resources into the protection of it's fragile reputation, when in fact this same capital could be far better spent practicing an ethical, moral, and sturdy code-of-conduct cemented in sheer human principle?
Look no further than history. America was built on lies, exploitation, and greed. It was always a thinly veiled scheme only noticeable enough to those who cared to take a deeper look at things. Unfortunately we all gonna pay the price for the greed of the wealthy.
a country's reputation can have significant implications for its economic, political, and social standing in the world. Therefore, it is understandable that countries would seek to protect their reputations to some extent. However, it is also important for countries to prioritize ethical and moral conduct, as this ultimately determines their long-term success and sustainability. In terms of whether America is investing too much in protecting its reputation at the expense of ethical conduct, this is a matter of perspective and subjective interpretation. Some may argue that the United States prioritizes image over substance, while others may contend that the country is actively engaged in upholding its values and principles, even if it occasionally falls short.
Another brilliant explanation by Prof Wolff. The Washington bureaucrats would hate him like crazy because he speaks the truth of what is going on in this financial mess.
Prof Wolff, you’re a very smart man. Wish you could make every American really see the society we live in, unfortunately not every one truly can understand the ramifications and the long term effect it has on our lives. Makes me think back when I was in school learning about ENRON. Wish u the best 👍
A powerful coincidence is preparing in the US. Expansion, bank breakdown, serious dry season in the horticultural belt, downturn, real estate market decline, bank emergency, food deficiencies, diesel fuel and warming oil deficiencies, child recipe deficiencies, accessible car deficiencies and costs, the cost of residing place. It's all approaching together and it could prompt a genuine calamity towards the finish of this current year (or sooner). With expansion at present at around 6%, my essential concern is the way to expand my reserve funds/retirement asset of about $300k which has been exposed target since perpetually with zero to no increases.
Market declines, taking off expansion, a huge expansion in loan fees by the Fed, and rising Depository yields all highlight extra misfortunes for portfolios this quarter. you simply need a decent FA to help you through this market disturbance
Lots of people have been warning about this next recession for the past couple of years. My gut tells me it's only just begun. A bunch of real estate is already starting to plummet. We need regulation to prevent banks from buying up all the homes and hiking the prices up even more.
@@LonerWeirdo I'm on disability and stuck in my abusive childhood home at 45. Had a partner and a house, planted a small orchard, lived in the middle of nowhere, but he chased me across it, took it and sold it. I'm not really looking forward with much hope of being able to afford rent. My point is that the banks buy up the houses and cause a rental market inflation. Which has already occurred in 2008, and again during covid. This is the next wave of the evil millionaire billionaire take over.
It's surprising that we're permitted to hear someone who actually understands the roots of the financial maelstrom this country has found itself in and to be able to speak without being suppressed by the 'powers that be" in his analysis of the shocking state of our economy. We could use a team of analytical experts like Professor Wolff to start from scratch- something similar to the Mayflower approach; in other words, an honor- based system which is the only one that will work.
The banking industry lobbied congress to ease regulations that were put in place after the 1989, 1990 banking disaster/recession. It wasn’t long after lobbing, that regulations were eased by congress putting us back in the same situation that would allowed for the disaster to happen in the first place. . Thus the 2008 banking disaster! It seems congress never learns . . . especially when those campaign contributions keep coming in❗
Congress has become a willfully ignorant clown sideshow that pretends to be shocked. Their ringleaders are the corporate lobbies, banks and wall street.
All of these are based on believing the bankers told the truth, the whole truth, nothing but the truth, and no fake news. In other words, American bankers are the most honest and trustworthy Americans, especially bankrupt bankers, because their honesty has been proven, and no one doubts their honesty. Judging from the fake news everywhere, even during the presidential elections, the USA must be governed by the Bankers Party. Bankrupt Bankers Party are the best because they are the most honest and trustworthy Americans, and no one even suggests they may be lying. So, the American election must be between the parties of bankrupt bankers and the still-in-business bankers because, in them, we trust, with our money, the highest possible entrustment in a capitalist country. So, the CEO of SVB must be the president of the USA.
On top of that, the after effects of the immense lifelong tax breaks and tax shelters enacted by the Republicans and their elected leaderships like the recent felonious that was in charge!
Can you please clarify? . Stop sending money and weapons to Ukraine? . Make worker co-ops mandatory? . Are you saying to tax all gains beyond $176,000 @ 100%?
Exactly the kind of person I'm looking to when this financial sleight of hand bullshit pops off. Thank you for having Wolff on to break down the situation for us!
Thank you To Professor Wolf for hitting th Nail on the Head. How long does this have to go on until we have a total 1 percenters/corporate collapse. I'm already seeing the layoffs. How many homeless people does it take.i say shut it all down and see where the Billionaires are at that point, like France is doing right now and the garbage piling high there in their in the streets!
9:25 Less than 3% was uninsured. You can look that up. It also means that the vast majority of people/groups had tremendous amounts of money in the bank. The reason they picked that bank was because they would give risky loans and allow people to move a lot more money around suddenly
All this madness from people who would be quick to admonish the rest of us to save, to not gamble, to be financially conservative and responsible with money. They are the exactly the ones to spend in excess, to gamble, to NOT be conservative and responsible with money. The rest of us are the ones to be cast out on the street while THEY get bailed out.
these banks? probably not much at all. the SVB made its money making risky loans to glib, smart-talking young guys in tech. Commercial realty - if svb had any on their books - was most likely negligible. now, the NYC banks... I'll bet those parasites were crotch-deep to tits-deep in the stuff and have been struggling ever since lock-down. I feel no sympathy for these scum bags at all. just the people who had to pay for it - us. fdic pay-outs come from a tax levied against all banks who in turn divvy it up and spread it all over their customers. bastards.
Aaron is very sound in analysis and his service delivery is top notch. I am so grateful to her for his assistance which has made me a much better and profiting trader.
I have a master in mathematical finance, so it wasn’t so easy to get me convinced to begin an investment without me carrying out proper research on her. I had her broker ID checked and she’s fully verified! So I began with a few bucks, only to get huge returns in a month. I reinvested and now I get long term monthly returns… So glad I don’t rely on pay checks anymore.
I have a master in mathematical finance, so it wasn’t so easy to get me convinced to begin an investment without me carrying out proper research on her. I had her broker ID checked and she’s fully verified! So I began with a few bucks, only to get huge returns in a month. I reinvested and now I get long term monthly returns… So glad I don’t rely on pay checks anymore.
I have some money in my savings and I would like to see it grow. But am not certain where to begin from. I am a novice at trading. I have watched dozens of videos on Forex trading and I understand all the concepts but I have not been successful at the actual trading. I would like to request for her assistance
In Washington State we have beautiful Evergreen forests. Often times they catch on fire, sometimes due to careless humans, but more often due to things like lightning strikes. Throughout much of plant-history that's not a big deal. The fire burns all the needles and smaller twigs/branches off the tree but doesn't get hot enough to actually kill the tree. The fire also burns off the fallen branches, needles, and dead wood on the forest floor. In 1908 we started keeping a close watch for forest fires and moving quickly to put them out in order to protect the value of the timber. As a result, dead wood began building up on the forest floor over decades. Now when there is a forest fire it burns much hotter than previously. Trees are killed, rather than being stripped. The hotter fire also grows faster and spreads into areas that might otherwise be too damp to burn. Since people like living near forests, more homes, more towns are endangered. Centrally planned management of forest resources has taken something that should be a minor nuisance and turned it into a major threat to the lumber economy and to human life. Likewise, Government meddling in the free markets - keeping interest rates unnaturally low for long periods of time and by creating moral hazard by bailing out the greediest and most imprudent, we end up with much more dangerous swings in the market and prevent the efficiencies that free markets can employ. Schumpeter's creative destruction. At least that's my impression, but what do I know? I don't have a PhD. so I will be a bit tentative of criticizing someone who does.
The last serious Air crash at the Airport near me, was back in the early 80's. By the time the Emergency services got to the site in an isolated field, the farmer had rescued 2 people, and removed all the bodies from the plane, and lined them up next to the wreck.They tried to give him a medal from the Queen, he declined the offer.
If you get a chance to talk to a chemist could you ask some questions about the topic: When you see the watercolors in the water what exactly are we looking at? Are those dioxins, if yes, what kind of concentrations would cause the intensity and density of those colors? (not sure I am even asking the correct question) what I am trying to determine is if that is enough to cause health problems or death or not? Can we glean anything from those physical properties that could give us a clue as to HOW BAD IS IT?
@Craig Severance I'm not a Chemist, but have read that many Chemists say we cannot see Dioxins, or many other toxic substances. Rather what we see in those iridescent ripples are petroleum compounds. There were 25k gallons of oil that were involved in the burn. The fire that initially burned before the vinyl chloride was ignited involved PET (Polyethylene Tetrachloride) pellets which are also very toxic. Melted plastic pellets probably exude an oily film over the area to combine with the oil. Are there residues of the other toxins within these oily compounds? More than likely, yet our eyes are detecting the oil, which has sunk to the bottom of the creek.
@@edwardkantowicz4707 Awesome reply! Makes me start thinking about when their journalist and guest threw a rock into the creek and it started floating to the top after being on the bottom and those colors started showing up. It would be interesting to do some "pre-rock_ and post-rock" testing. What I mean is grab a sample before disturbing the water then immediately afterward and see if there are significant differences and what those differences are. I will see if I can get President Trump to donate some funds to do some testing down there. He helped me out many years ago when he was president and I hope I still have his ear.
@@LimousineIndianapol1 Wishing you all the best in your endeavours... many claim these creeks as well as the OH river were already polluted, but more testing is needed regardless.
@@edwardkantowicz4707 yea, they always take the eady out when it comes to responsibility. I must say though, I'm starting to believe the sabotage theory of Russia/china may be intentionally derailing our infrastructure to slow down our war machine in Ukraine and Taiwan.
Exactly about the student loans. They say to people "Oh, you knew there was a risk that you could not repay the loan when you took it out" and hammer home the ol' "personal responsibly" lecture. But if you're a rich venture capitalist or banker, then you no longer need "personal responsibility" for your risks and actions. Got it. Never mind the fact that this broken society owes us all at least a few bucks off the student loan because THEIR GREED AND BS is why it is difficult to pay it back in the first place. A job requiring a college education SHOULD be able to cover the cost of the degree! but now, you need to choose between rent and paying the student loan. And NO, not everyone can just "go home and live with their parents." Some homes are dangerous and mentally traumatizing and people should NOT have to go back to them. The salaries were supposed to keep up with the cost of living, but they kept salaries low and raised the rents without competition in markets- "market rate." They fight paying anything to us at all: any benefits, any health insurance, any security, and have the NERVE, THE GALL AND AUDACITY to say "well, if we give them these things, they won't work." Please. Those things used to come as a given with work with a job for adults. Stating this here, I'm obviously preaching to the choir. But the problem is, everyone just shrugs and goes "meh, what are you gonna do?" The scary part is people can agree with what I just said, most people know it on even a subconscious level, but NO ONE wants to do anything about it. We need to start getting "think tanks" like they have and start figuring out exactly what we can do about this. I am hoping to leave to solve the problem for myself, but that's a long shot, and it only fixes the problem for myself. Unlike these greedy "individuals" I would like to save others as well. So what can we do to improve things instead of watching them get worse?
My question - there were reports of 2022 bonuses being paid out prior to the collapse of the company. Also, reports that upper management has been selling large amounts of shares very recently as well. Basically, if bonuses were paid, then in my experience that is direct deposit. Let's say that 2019 and 2020 and 2021 bonuses were paid by direct deposits into SVB accounts held by SVB employees. However, if those employees that normally used SVB accounts suddenly changed their accounts to a different bank, that would be suspicious.
Prof. Wolff was just on a podcast called No BS News Hour in a kindof debate with a neolib capitalist. It was really good, he did a spectacular job and its worth checking out. Edited to add that Jordan has also been on No BS News Hour to talk about Flint water crisis.
For anyone who wants a more detailed explanation on why the bond prices go down when interest rates go up. So bonds have 4 very numbers associated with them the face value the market price the coupon and the yield. The face value is the money the government will pay you when the bond expires the coupon is the money the government pays over time and is the interest rate at the time of issue. When new bonds are issued with a higher interest rate the old ones have to fall in market price so that the difference in market price and face value plus the coupon makes a total yield substantially similar to newly minted bonds with the same face value but higher coupon rates.
Why doesn't RUclips show the comment count any longer? I keep thinking, Wow noone has commented..then when I go to make a comment, they are there!! Weird!
Unfortunately we are living in an unknown world . Logic dictates the stock and real estate market should have crashed with a world closing. However enter BlackRock
Status Coup is funded by YOU! SUPPORT our ON-THE-GROUND and investigative reporting on the stories the corporate media COVERS UP: www.StatusCoup.com/Join
🚫🇺🇲🚫 Many depositors are
Foreign Corp at SVB. They all know FDIC only insurers 250k. Yet, TAXPAYERS WILL BAIL ALL THESE FOREIGNERS CORP OUT! THE same Corp that lobby/ bribed our corrupt congress against American workers' interest.
Louis P. Shuster, a proud member of the Brotherhood of Locomotive Engineers and Trainmen (BLET), employed as a Norfolk Southern conductor, was struck and killed early Tuesday when a dump truck collided with a train car in Cleveland. No news coverage has been done, NS doesn't want to take any blame... My son in law; used to work for NS; that's how I found out...
@@jennifersweet8081 🇺🇸 no surprise.
@@seymorefact4333 My son in law used to work for NS... He has alot of stories about NS safety... Terrible...
Simpleton - foolish or gullible person. Hope everyone unsubscribes.
One thing Prof Wolff reinforces is that in the American system, profits are all privatized but risk and failure is socialized.
Ain’t that something?
Yep.
Almost like we don’t have a capitalist system at all. Wow.
^ This
Let me put it another way that makes it worse to think about. When the profit is made it is because the owners and officers are so good and smart, but when there’s failure, it’s the fault of everyone but them, even if they have never did any business with them and probably especially because of that. No? Well that’s how it is treated. Profits are given to the owners and officers. If they fail, the burden of that failure is on you. Your taxes are treated as if that’s what you’re paying it for.
Again: ain’t that something?
. This gentleman provides a finely woven texture of context for current event$
Great Interview/ Information ✨💕✨ Thank You 🙏✨
Mr Wolff is a treasure for humanity!
Cheers and many many thanks from Patagonia, Argentina!
Prof Wolfe is wonderful 🤩
Exactly the information I was searching RUclips for regarding this situation..
Professor Richard Wolff featured on Status Coup!
You are a vert good interviewer, did not interrupt the professor, great lecture!
Love Dr Wolff
I'd rather have social socialism than corporate socialism but instead this oligarchy is going full fascist.
I’d rather have none of this. Get rid of federal reserve. I believe JFK spoke out against it and then he was killed off.
what make you think socialism or communism anymore fair. moved back to vietnam 2 year ago and all the communist's leadership are the wealthiest one of all
Yep.
America has already become a dystopian fascist oligarchy protected by the corporate media.
All of these are based on believing the bankers told the truth, the whole truth, nothing but the truth, and no fake news. In other words, American bankers are the most honest and trustworthy Americans, especially bankrupt bankers, because their honesty has been proven, and no one doubts their honesty. Judging from the fake news everywhere, even during the presidential elections, the USA must be governed by the Bankers Party. Bankrupt Bankers Party are the best because they are the most honest and trustworthy Americans, and no one even suggests they may be lying. So, the American election must be between the parties of bankrupt bankers and the still-in-business bankers because, in them, we trust, with our money, the highest possible entrustment in a capitalist country. So, the CEO of SVB must be the president of the USA.
I've never heard of Jordan Chariton but I always research recent videos of Professor Wolff and i'm glad that he is willing to go on these channels in order to reach a wider audience that actually cares to listen to what he has to say. Thank you Jordan for having such an amazing guest on your channel. If you would like a guest that can describe what is going on with Ukraine, I would suggest none other than Professor John Mearsheimer from the University of Chicago. Thank you again and I wish all of you luck on your journey for knowledge. :)
Thank you both for sharing your knowledge with all of us!
Years after flint and they can help, months after East Palestine and the government can't help but the moment of corporation needs money, they can't get money fast enough to that corporation or to some wealthy family. It is said that in the Halls of Congress, it took 30 minutes to get Congressional approval to bail out these banks
It's a take over. The government wants to get rid of crypto so they eliminate the competition and will introduce the Central Bank Digital Currency.
It's worse than that really. They dont even hold accountable Norfork Southern for making lies and false claims about how they will "help" the citizens of East Palistine.
You do know that Flint Michigan is solved and solved within days. It was also more than solved and Flint got a brand new water system.
@@kaymish6178 And children's irreversible brain damage from lead in the water doesn't count.
I love Prof Wolff
He should be a national treasure Richard wolf
And who controls the media which is supposed to keep the public well informed?
$$$ 🤑💵💸
❤ Wolff - thanks for having him on.
This was top notch.
Who else finds it deeply concerning that America invests a disproportionate amount of time, human energy, and seemingly limitless resources into the protection of it's fragile reputation, when in fact this same capital could be far better spent practicing an ethical, moral, and sturdy code-of-conduct cemented in sheer human principle?
I have been saying same thing (Not exact words) to my friends. Sad thing is that Elite control politicians.
Amen!
Look no further than history. America was built on lies, exploitation, and greed. It was always a thinly veiled scheme only noticeable enough to those who cared to take a deeper look at things. Unfortunately we all gonna pay the price for the greed of the wealthy.
a country's reputation can have significant implications for its economic, political, and social standing in the world. Therefore, it is understandable that countries would seek to protect their reputations to some extent. However, it is also important for countries to prioritize ethical and moral conduct, as this ultimately determines their long-term success and sustainability.
In terms of whether America is investing too much in protecting its reputation at the expense of ethical conduct, this is a matter of perspective and subjective interpretation. Some may argue that the United States prioritizes image over substance, while others may contend that the country is actively engaged in upholding its values and principles, even if it occasionally falls short.
@@peetymcfly8871 Indeed. Well stated. It could be argued that a reputation of any kind should not come at the expense of unaffiliated people.
Another brilliant explanation by Prof Wolff. The Washington bureaucrats would hate him like crazy
because he speaks the truth of what is going on in this financial mess.
Love his interviews with Richard wolff 🐺 Richard always puts it in the simplest form for any one to understand
Even Trump supporters?
Prof Wolff as always nails it. great interview
Prof Wolff, you’re a very smart man. Wish you could make every American really see the society we live in, unfortunately not every one truly can understand the ramifications and the long term effect it has on our lives. Makes me think back when I was in school learning about ENRON. Wish u the best 👍
A powerful coincidence is preparing in the US. Expansion, bank breakdown, serious dry season in the horticultural belt, downturn, real estate market decline, bank emergency, food deficiencies, diesel fuel and warming oil deficiencies, child recipe deficiencies, accessible car deficiencies and costs, the cost of residing place. It's all approaching together and it could prompt a genuine calamity towards the finish of this current year (or sooner). With expansion at present at around 6%, my essential concern is the way to expand my reserve funds/retirement asset of about $300k which has been exposed target since perpetually with zero to no increases.
Market declines, taking off expansion, a huge expansion in loan fees by the Fed, and rising Depository yields all highlight extra misfortunes for portfolios this quarter. you simply need a decent FA to help you through this market disturbance
@Roy That is noteworthy! I could truly utilize the skill of this counselor, my portfolio has been stagnant.... Who's the individual directing you?
@Roy Asking please, how do I get through to him?
Access to good information is what we investors needs to progress financially and generally in life. this is a good one and I appreciate..
That was a great explanation by Richard, he has a way of making complex issues understandable. I'm in the UK, but essentially it's the same here.
Is Sunak as bad as Biden?
@@63saruman Biden is to the left of the current miscreant squatting in the leadership office of the Labour Party.
Does that answer your question?
Lots of people have been warning about this next recession for the past couple of years. My gut tells me it's only just begun. A bunch of real estate is already starting to plummet. We need regulation to prevent banks from buying up all the homes and hiking the prices up even more.
@@LonerWeirdo I'm on disability and stuck in my abusive childhood home at 45. Had a partner and a house, planted a small orchard, lived in the middle of nowhere, but he chased me across it, took it and sold it. I'm not really looking forward with much hope of being able to afford rent. My point is that the banks buy up the houses and cause a rental market inflation. Which has already occurred in 2008, and again during covid. This is the next wave of the evil millionaire billionaire take over.
Its safe and effective says the government
I wonder how many congressmen have a financial interest in the failed banks?
At least half
Documents show Democrats had a greater interest in FTX than Republicans...
@@theodorethompson9032 Source, please.
@@ianmega9550 go look at the percentage of money donated to democrats from FTX compared to republicans.
Another great interview by Jordan with a highly intelligent personality, Dr Richard Wolff. I learn something every time.
Thank you for this, Jordan & Professor Wolff.
Great news!!! Love you both! Thanks for keeping it real.
RESTORE REGULATION IMMEDIATELY
Educative, Informative, Eye-opening.....Thank you JORDAN for a wonderful programme.🙏🙏🙏
In Greater New York City alone, there are over 100 banks, and many more much smaller ones, so this bank going under seems very suspicious to me.
Always a pleasure to learn from Professor Wolff's presentations
It's surprising that we're permitted to hear someone who actually understands the roots of the financial maelstrom this country has found itself in and to be able to speak without being suppressed by the 'powers that be" in his analysis of the shocking state of our economy. We could use a team of analytical experts like Professor Wolff to start from scratch- something similar to the Mayflower approach; in other words, an honor- based system which is the only one that will work.
Really interesting interview! Prof Wolff is a exception of clarity, intelligence and wisdom showing where this system stands!
US BANKS COLLAPSE ‼️
UKRAINE WINS BANK OF THE YEAR ‼️
The banking industry lobbied congress to ease regulations that were put in place after the 1989, 1990 banking disaster/recession. It wasn’t long after lobbing, that regulations were eased by congress putting us back in the same situation that would allowed for the disaster to happen in the first place. . Thus the 2008 banking disaster! It seems congress never learns . . . especially when those campaign contributions keep coming in❗
Congress has become a willfully ignorant clown sideshow that pretends to be shocked. Their ringleaders are the corporate lobbies, banks and wall street.
Congress just doesn't care. If banks go under there's a blank check waiting to be filled out to bail them out.
Congress is completely corrupt.
All of these are based on believing the bankers told the truth, the whole truth, nothing but the truth, and no fake news. In other words, American bankers are the most honest and trustworthy Americans, especially bankrupt bankers, because their honesty has been proven, and no one doubts their honesty. Judging from the fake news everywhere, even during the presidential elections, the USA must be governed by the Bankers Party. Bankrupt Bankers Party are the best because they are the most honest and trustworthy Americans, and no one even suggests they may be lying. So, the American election must be between the parties of bankrupt bankers and the still-in-business bankers because, in them, we trust, with our money, the highest possible entrustment in a capitalist country. So, the CEO of SVB must be the president of the USA.
On top of that, the after effects of the immense lifelong tax breaks and tax shelters enacted by the Republicans and their elected leaderships like the recent felonious that was in charge!
Thanks for this interview
End the pointless wars, establish worker co-ops, tax all gains after $176,000 . The money is there it’s not accounted yet.
Can you please clarify?
. Stop sending money and weapons to Ukraine?
. Make worker co-ops mandatory?
. Are you saying to tax all gains beyond $176,000 @ 100%?
Prof. Wolfe is an awesome guest! Thanks a lot status coup. Capitalism is a grift.
I laughed when I heard Biden say that “No Tax dollars are being used”. 😆🤣😂
I have aphasia and increasingly have difficulty understanding complex subjects. Kudos to Wolff for making economics comprehensible.
Protect the IRS and beef up it's personnel. Tax the rich and regulate impropriety in all departments of the Federal Government.
Love DAW, great to see you on Status Coup!
Exactly the kind of person I'm looking to when this financial sleight of hand bullshit pops off. Thank you for having Wolff on to break down the situation for us!
Thank you To Professor Wolf for hitting th Nail on the Head. How long does this have to go on until we have a total 1 percenters/corporate collapse. I'm already seeing the layoffs. How many homeless people does it take.i say shut it all down and
see where the Billionaires are at that point, like France is doing right now and the garbage piling high there in their in the streets!
9:25 Less than 3% was uninsured. You can look that up. It also means that the vast majority of people/groups had tremendous amounts of money in the bank. The reason they picked that bank was because they would give risky loans and allow people to move a lot more money around suddenly
As always the best insights with the Wolff 😊
Kills me to think of crypto currency freaks getting bailed out.
All this madness from people who would be quick to admonish the rest of us to save, to not gamble, to be financially conservative and responsible with money. They are the exactly the ones to spend in excess, to gamble, to NOT be conservative and responsible with money. The rest of us are the ones to be cast out on the street while THEY get bailed out.
Great interview, thank you Status Coup.
As an average Joe. Thanks for helping me understand what is happening
B.P
Oh my! So much going on.
How much of these bank failiers had to do with on commercial realestate foreclosures, since more people are working at home?
these banks? probably not much at all. the SVB made its money making risky loans to glib, smart-talking young guys in tech. Commercial realty - if svb had any on their books - was most likely negligible.
now, the NYC banks... I'll bet those parasites were crotch-deep to tits-deep in the stuff and have been struggling ever since lock-down.
I feel no sympathy for these scum bags at all. just the people who had to pay for it - us. fdic pay-outs come from a tax levied against all banks who in turn divvy it up and spread it all over their customers. bastards.
Thanks for this interview with Prof Wolff. We will probably need a weekly update from him for the next few months as more comes to light.
😢🎉😢😢😮😅😊
😢🎉😢😢😮😅😊
REGULATIONS NEEDED IMMEDIATELY PRO WOLF DEM AT WORK
I love Professor Wolff. That is all.
@Aaront44 THAT IS HIS USER NAME
Aaron is very sound in analysis and his service delivery is top notch. I am so grateful to her for his assistance which has made me a much better and profiting trader.
Aaron daily signal is top-rated and one of the best you could get when it comes to trading crypto.
Yes, for a while now I've only read and heard positive comments about this Aaron. I would try that with my 3.2 BTC
Richard Wolff You are the best. My first time to hear you was at Judson Hall NYC
Keep speaking about it, now is the time. The future is here
Funny how these sort of troubles seem to be a boon for all sorts of media personalities. That's their time to shine.
This banking system is in terrible shape. It needs to be reformed.
Thank you for your informations..🎉
prof wolff always a great guest
OUTSTANDING ANALYSE!
I have a master in mathematical finance, so it wasn’t so easy to get me convinced to begin an investment without me carrying out proper research on her. I had her broker ID checked and she’s fully verified! So I began with a few bucks, only to get huge returns in a month. I reinvested and now I get long term monthly returns… So glad I don’t rely on pay checks anymore.
I have a master in mathematical finance, so it wasn’t so easy to get me convinced to begin an investment without me carrying out proper research on her. I had her broker ID checked and she’s fully verified! So I began with a few bucks, only to get huge returns in a month. I reinvested and now I get long term monthly returns… So glad I don’t rely on pay checks anymore.
I have some money in my savings and I would like to see it grow. But am not certain where to begin from. I am a novice at trading. I have watched dozens of videos on Forex trading and I understand all the concepts but I have not been successful at the actual trading. I would like to request for her assistance
< normandavis
Thank you Mr. Wolff
The only way to fix it, is to start putting these executives in prison. But tthat will never happen.
In Washington State we have beautiful Evergreen forests. Often times they catch on fire, sometimes due to careless humans, but more often due to things like lightning strikes. Throughout much of plant-history that's not a big deal. The fire burns all the needles and smaller twigs/branches off the tree but doesn't get hot enough to actually kill the tree. The fire also burns off the fallen branches, needles, and dead wood on the forest floor. In 1908 we started keeping a close watch for forest fires and moving quickly to put them out in order to protect the value of the timber. As a result, dead wood began building up on the forest floor over decades. Now when there is a forest fire it burns much hotter than previously. Trees are killed, rather than being stripped. The hotter fire also grows faster and spreads into areas that might otherwise be too damp to burn. Since people like living near forests, more homes, more towns are endangered. Centrally planned management of forest resources has taken something that should be a minor nuisance and turned it into a major threat to the lumber economy and to human life.
Likewise, Government meddling in the free markets - keeping interest rates unnaturally low for long periods of time and by creating moral hazard by bailing out the greediest and most imprudent, we end up with much more dangerous swings in the market and prevent the efficiencies that free markets can employ. Schumpeter's creative destruction. At least that's my impression, but what do I know? I don't have a PhD. so I will be a bit tentative of criticizing someone who does.
The last serious Air crash at the Airport near me, was back in the early 80's. By the time the Emergency services got to the site in an isolated field, the farmer had rescued 2 people, and removed all the bodies from the plane, and lined them up next to the wreck.They tried to give him a medal from the Queen, he declined the offer.
Thank you Sir, 👏😥👏
Brilliant explanation as always.
Thank you Mr Wolfe
If you get a chance to talk to a chemist could you ask some questions about the topic: When you see the watercolors in the water what exactly are we looking at? Are those dioxins, if yes, what kind of concentrations would cause the intensity and density of those colors? (not sure I am even asking the correct question) what I am trying to determine is if that is enough to cause health problems or death or not? Can we glean anything from those physical properties that could give us a clue as to HOW BAD IS IT?
EP IS CHERNOBYL SINCE BURN
NS BUYOUT ASAP. PRE DERAIL VALUE INCOME EP
$20K A YEAR VERY LOW CRIME TIGHT KNIT KIND TOWN
@Craig Severance I'm not a Chemist, but have read that many Chemists say we cannot see Dioxins, or many other toxic substances. Rather what we see in those iridescent ripples are petroleum compounds. There were 25k gallons of oil that were involved in the burn. The fire that initially burned before the vinyl chloride was ignited involved PET (Polyethylene Tetrachloride) pellets which are also very toxic. Melted plastic pellets probably exude an oily film over the area to combine with the oil. Are there residues of the other toxins within these oily compounds? More than likely, yet our eyes are detecting the oil, which has sunk to the bottom of the creek.
@@edwardkantowicz4707 Awesome reply! Makes me start thinking about when their journalist and guest threw a rock into the creek and it started floating to the top after being on the bottom and those colors started showing up. It would be interesting to do some "pre-rock_ and post-rock" testing. What I mean is grab a sample before disturbing the water then immediately afterward and see if there are significant differences and what those differences are. I will see if I can get President Trump to donate some funds to do some testing down there. He helped me out many years ago when he was president and I hope I still have his ear.
@@LimousineIndianapol1 Wishing you all the best in your endeavours... many claim these creeks as well as the OH river were already polluted, but more testing is needed regardless.
@@edwardkantowicz4707 yea, they always take the eady out when it comes to responsibility.
I must say though, I'm starting to believe the sabotage theory of Russia/china may be intentionally derailing our infrastructure to slow down our war machine in Ukraine and Taiwan.
Thank u!
Excellent thanks.
Exactly about the student loans. They say to people "Oh, you knew there was a risk that you could not repay the loan when you took it out" and hammer home the ol' "personal responsibly" lecture. But if you're a rich venture capitalist or banker, then you no longer need "personal responsibility" for your risks and actions. Got it. Never mind the fact that this broken society owes us all at least a few bucks off the student loan because THEIR GREED AND BS is why it is difficult to pay it back in the first place. A job requiring a college education SHOULD be able to cover the cost of the degree! but now, you need to choose between rent and paying the student loan. And NO, not everyone can just "go home and live with their parents." Some homes are dangerous and mentally traumatizing and people should NOT have to go back to them. The salaries were supposed to keep up with the cost of living, but they kept salaries low and raised the rents without competition in markets- "market rate." They fight paying anything to us at all: any benefits, any health insurance, any security, and have the NERVE, THE GALL AND AUDACITY to say "well, if we give them these things, they won't work." Please. Those things used to come as a given with work with a job for adults.
Stating this here, I'm obviously preaching to the choir. But the problem is, everyone just shrugs and goes "meh, what are you gonna do?" The scary part is people can agree with what I just said, most people know it on even a subconscious level, but NO ONE wants to do anything about it. We need to start getting "think tanks" like they have and start figuring out exactly what we can do about this. I am hoping to leave to solve the problem for myself, but that's a long shot, and it only fixes the problem for myself. Unlike these greedy "individuals" I would like to save others as well. So what can we do to improve things instead of watching them get worse?
Extremely intelligent Mr Wolf 🐺
*Brakes* is the perfect metaphore for regulation and Capital hates speed limits.
Sooooo well said
Keep Shining the Light.
#EndMinorityRule
@profWolff
Good interview
My question - there were reports of 2022 bonuses being paid out prior to the collapse of the company. Also, reports that upper management has been selling large amounts of shares very recently as well.
Basically, if bonuses were paid, then in my experience that is direct deposit. Let's say that 2019 and 2020 and 2021 bonuses were paid by direct deposits into SVB accounts held by SVB employees. However, if those employees that normally used SVB accounts suddenly changed their accounts to a different bank, that would be suspicious.
Grate talk...
BTW, "Marxism" on the background...😁. Thank you for sharing. I learnt a lot from you.
I still don't understand how people rationalize this instability as a good thing. Like WTF.
Professor Wolfe is the man ! Thanks for this factual and informative video
The government says its safe and effective
I don't subscribe to every aspect of what R. Wolff speaks about but he has laid out the riot act here.
The best mr Richard Wolff
Great vlog great advice. Enjoy
Prof. Wolff was just on a podcast called No BS News Hour in a kindof debate with a neolib capitalist. It was really good, he did a spectacular job and its worth checking out.
Edited to add that Jordan has also been on No BS News Hour to talk about Flint water crisis.
If things get bad enough, could they also put capital limits on how much money can be taken out of an account at any given time?
It’s called bail ins. They will steal the depositors funds.
Daddy Wolff
A person unable to follow the financial system is not a "simpleton" !
Prof Wolff, what do you think about the FED lowering the reserve requirements to zero in 2020 and keeping it there?
So true everything he said
For anyone who wants a more detailed explanation on why the bond prices go down when interest rates go up. So bonds have 4 very numbers associated with them the face value the market price the coupon and the yield. The face value is the money the government will pay you when the bond expires the coupon is the money the government pays over time and is the interest rate at the time of issue. When new bonds are issued with a higher interest rate the old ones have to fall in market price so that the difference in market price and face value plus the coupon makes a total yield substantially similar to newly minted bonds with the same face value but higher coupon rates.
Very nice discussion.
Spot on
why wouldnt the banks who were bailed out and no executives were fined or went to jail do the exact same thing again?
Why doesn't RUclips show the comment count any longer? I keep thinking, Wow noone has commented..then when I go to make a comment, they are there!! Weird!
Unfortunately we are living in an unknown world . Logic dictates the stock and real estate market should have crashed with a world closing. However enter BlackRock