Global Capitalism: October 2016 Monthly Economic Update

Global Capitalism, Monthly Economic Update

"A Looming Crisis: Major Candidates Ignore It"

 Co-sponsored by Democracy at Work, Left Forum & Judson Memorial Church

These programs begin with 30 minutes of short updates on important economic events of the last month, then Prof. Wolff analyzes several major economic issues. For the month of September, these issues will include: 
1.  Corporate and government debt huge + real wages flat = trouble;
2.  Inequality + consumers unable to spend = looming crisis;
3.  Crisis looms + gov't desperate = gov't spending + worker coops rise.
Our goal: To develop all participants’ understanding and ability to explain current economic events and trends to others. We open the floor to questions and comments when time permits. 
If you access the videos of these monthly updates posted on YouTube and our websites, we ask you to join our attendees who contribute at least $10 at each monthly update to help defray costs of producing, video-taping, and distributing these videos. Please contribute by using the "donate" button below. Contributions are tax deductible, and we can gladly provide receipts in person if requested. To those able to contribute more than $10, our special thanks.

Showing 11 comments

  • Joseph A. Mungai
    commented 2016-11-03 00:11:56 -0400
    Tavis Smily Show — “Presidential candidates representing the Green Party and Libertarian Party address issues pertinent to the 2016 election in a forum-style conversation.” (23:37)

    Part-2 (24:03):
  • Joseph A. Mungai
    commented 2016-11-03 00:04:24 -0400
    “The Big Picture Interview: Economist Dr. Richard Wolff, Capitalism’s Crisis Deepens: Essays on the Global Economic Meltdown, joins Thom. The Federal Reserve is set to announce tomorrow whether it will raise interest rates now or wait until after the election. Is this decision about economics or about holding off the next crash until the most politically convenient point possible?” (12:20)
  • Joseph A. Mungai
    commented 2016-11-02 23:41:42 -0400
    “With every major financial recovery since the second World War beginning in a place of greater debt than the one before it, how could we not have foreseen the financial crisis of 2008? In this episode of Meet the Renegades, economics professor and author, Michael Hudson argues we did. How could an economy that created so much debt also save the banks rather than the economy itself, following the 2008 financial crisis? Michael discusses the phenomenon of debt inflation and how the economic curriculum should change. ‘If you’re teaching economics, you should begin with the relationship between finance and the economy, between the build up of debt and the ability to pay.’” (30:07)
  • Joseph A. Mungai
    commented 2016-11-02 23:41:06 -0400
    @christian Caporrimo, We don’t live in a Democracy. I agree. We must change the system. WSDEs are one solution, Public Banks another. I sincerely doubt a parade will change the political economy.
  • Christian Caporrimo
    commented 2016-11-02 13:57:21 -0400
    @joseph A. Mungai, I have yet to see a major candidate that is running on a post-capitalist economic (or any alternative economic) platform. Yes, it would be great to end the 2 party domination but the nation is still ruled by money and the candidacy for president is still a market commodity even in a multi-party system. Statistics overwhelmingly show that the national candidate who spends the most on their campaign is going to win the election. Democracy in the political scene is nearly worthless without democracy in the economic scene.

    I don’t mean to rain on a potential parade, but even our 2 party political system would be MUCH better if it were operating in a society with a democratic and relatively equitable economic system.
  • Matthew Jackson
    commented 2016-10-16 11:49:33 -0400
    Yes, please make video explaining the different kinds of tax deductions and exemptions and demonstrate how they are employed by individuals , corporations, and other institutions.
  • Marie Long
    commented 2016-10-15 14:38:19 -0400
    thank you, Richard Wolff, for the truth. like a breath of fresh air always. in spite of the sad crumbling of our nation, it is nevertheless important, really validating, to hear reality delivered as do with humor. it helps us get by.
  • Joseph A. Mungai
    commented 2016-10-14 23:55:40 -0400
    “Robert Reich recently released an article “WHY PROGRESSIVES SHOULD VOTE HILLARY”. I strongly disagree with Mr. Reich. Hillary Clinton is not a Progressive Candidate…I would like Robert Reich to see this response.” (15:19)
  • Joseph A. Mungai
    commented 2016-10-14 05:02:15 -0400
    George W. Bush was periodically seen in the oval office over 2 terms and today the best we’re offered from the DNC is Hillary and Donald from… (35:38)
  • Joseph A. Mungai
    commented 2016-10-14 01:12:12 -0400
    “There has never been a better time for a rude awakening. Trump Vs Clinton – The Window of Opportunity” (4:17)
  • Joseph A. Mungai
    commented 2016-10-14 00:34:18 -0400
    “Maine is poised to make history by being the first state to approve ranked-choice voting. This means you’ll no longer have to hear the insufferable “spoiler” argument if you opt for a third-party candidate. This is incredibly important because—if this ballot initiative is successful—it could create a domino effect, and more states might follow suite. This could be a game changer in American politics and loosen the grip both the Democratic and Republican parties have on our democracy.” (5:03)

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