Economic Update: Economics of Trump

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On this episode of Economic Update, Prof. Wolff provides updates on big Texas worker coop, Audi deal to make cars in China, Pope's criticism of capitalism, Trump's Wall Streeters. Major discussions of Trump's economics and why Clintonomics and Reaganomics not so different.


Showing 3 comments

  • commented 2016-11-25 08:38:36 -0500
    How about a DIFFERENT way to penalize American Companies who make it in China and sell it here. Put a 35% or whatever seems correct, sur charge on the Taxes the companies pay. Of course, the companies will threaten to move or actually begin the process of moving mfgring. At that point, have the government take over the corporations manufacturing facilities, and then guaranteeing a loan for the take over of the corp./company to make the switch to an employee owned enterprise.
  • commented 2016-11-23 23:44:05 -0500
    If you want to know what has been happening to people and their mind set then watch “Hypernormalisation”, " Bitter Lake" the documentaries by Adam Curtis from the BBC. The control and power influence in the government by the Australian media mogul Rupert Murdoch is globally far reaching. The Australian, UK, and USA governments have had their policies influenced directly by him. Murdoch runs the gutter press newspapers which people grab on their way to work. All the papers are positioned appropriately with the sensational headlines to attract visual attention. We are now very fortunate to have alternative news sources via Social Media sites otherwise we would never learn the truth as a good deal of journalism and new reporting has been corrupted. People want to dig into the past to explain today. It is very appropriate to have the knowledge of historical events. The issue is that was past history and for us all to move forward globally as this is a global issue we need to write our own history.
  • commented 2016-11-23 04:39:40 -0500
    If I may comment on just the subject of Trump and his President-elect status, I will submit the following observations. First, IF he was elected by the so-called disenfranchised middle-class working people showing up to the polls in huge, unanticipated numbers, then everyone should be reflecting on only one issue. He has REDACTED or changed his position on almost every issue or idea that he proposed during the campaign. One meeting with President Obama, and now he’s re-thinking everything. That’s good for those of us who cringed at the thought of a Trump Presidency, but what about the people who voted for him? I think they might be even more angered than they were before the election when they were faced with the possibility of a Hillary Clinton administration. Secondly, Trump said over and over that he was an “outsider” that would drain the swamp and reform bureaucracy. So he starts surrounding himself with insiders and creatures that grew up in the swamp? Mitt Romney might be a member of the “group”? Newt Gingrich? Sarah Palin for God’s sake? Might as well exhume Nixon and Gerald Ford next. Third, we were all told that Hillary was untrustworthy and a Wall Street collaborator, subject to indictment for her crookedness, and part of the “Establishment”. If anyone can research Trump and come away with a different point of view about his past, his businesses, and his attitude, then I’ll just spend the next 4 years keeping my head down and my mouth shut because people who think in those terms are clueless Jingoists who have a lot of really BAD probabilities coming to them. Everyone seems to be adopting a “wait and see” attitude. I’ve already seen it. People have been making fun of Trump for decades and I see no reason to take him seriously now. It’s really frightening and disappointing when you realize that Americans have NO MEMORY. Most of our population lives in the moment and only pays attention to the situations that suit them. We have no intellectuals left in our government, and that is SCARY. Social media has taken the place of society and a general sense of morality and ethics. America is a reality TV show, and we’re going to eat huge helpings of humble pie before we learn our lesson.
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