Economic Update: Economics, Psychology and Mass Murders

Economic Update: Economics, Psychology and Mass Murders



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Season 6, episode 41
THIS WEEK’S TOPICS (w/timestamps):
00:57 – Victims of Las Vegas shooting unable to pay for medical care;
02:48 – updates on the Trump/GOP tax plan;
03:50 – Updates on closing 6,400 retail stores in 2017;
09:05 – Americans having “trouble” paying bills;
10:02 – how post-1989 Russia is economically more unequal than the
USSR;
13:02 – Eastern Europe now a colony of Western Europe;
15:25 – how Puerto Rico is treated as a U.S. colony;
17:10 – The left emerges in Portugal and UK;
19:55 – targeting finance vs entire system;
21:34 – closing rural US hospitals;
24:19 – announcements;
25:40 – Puerto Rico as US colony
28:51 – SPECIAL GUEST: Interview with Dr. Harriet Fraad on economics, psychology and mass murders. Full episode available free via podcast or as a video on Patreon: http://www.patreon.com/economicupdate

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Richard D. Wolff’s website: http://www.rdwolff.com
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Follow Richard D. Wolff on Twitter: http://twitter.com/profwolff

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October 8, 2017 / 37 Comments / by / in
  • Many of these people will be permanently disabled and out of the work force, possible the rest of their lives. Some will face years of medical treatment and therapy for a very long time beyond the initial trauma and treatment. When the media covers these sort of mass killings they focus on the dead and not the extended hell. destruction of quality of life, and poverty facing those that live. They are forgotten because they lived.

  • Surly these victims won't be asked to pay for this murderus shit.

  • with the petro dollar your country should have had free medical for every man, woman and child. it's shameful and pathetic. i'm glad i don't live there. and yet you can bomb and rape every country that doesn't fall into line. wow and look at your prison system. now do you think it can continue to go on????? great interview

  • ……………………………….

  • I love this channel

  • As a Canadian I can appreciate how all Dr. Richard Wolff's lectures are also showing how capitalism is declining and has destroyed hope for many here in Canada, but most people are not paying attention. These people are the sheep that will follow those who continue to lie about capitalism being the only way forward. Socialism is the only answer but how do we prevent it from going to totalitarianism?

  • TURN DOWN THE VOLUME OF YOUR INTRO MUSIC! It's way too loud!

  • Full episode?

  • What's even more stupid about the 'tax break' for the corporations is : why pay even 10% tax when you are currently paying 0% ? Duh. Having the money stashed overseas or here makes no difference in terms of investment or jobs – only taxes. This is because it is more profitable to use that money to speculate and gamble on commodities, currencies and voodoo securities than take the risk of creating a company, not to mention sharing all that money with dumb things like staff. Change the reward and punishment systems – it's the only way. The only way that will happen is if citizens only vote for candidates who take no money from corporations.

  • The fate of Eastern Europe and the former socialist nations of Africa and Latin America should be a stark warning – the so-called 'economic miracles' of capitalism was a mirage: the richer ones only get rich by plundering other nations' resources and exploiting the cheapest labour possible. All those foolish nations who abandoned the boring but stable communist system ended up the victims of rapacious vulture capitalists who all promptly left when there was nothing left to steal. Now that they are forbidden to go back to the old ways again (just look at the fate of Ukraine when they just tried to join an economic union with Russia), the people look back further to an imagined time when they felt powerful – the fascist era, and imperial eras before that. It should be obvious to everyone who is honest now that the capitalist system only works for a minority – and the nations who kept the socialist system, aiming for communism, are doing just fine. China and Cuba are good examples, and Russia is slowly moving back to a state-run, social services system. The Communist Party of Russia is still the second-most popular party. Instead of ranting and raving about Stalin and Mao, and debating over the hard times these countries had to go through to get to where they are now, it should be accepted that socialism can come in many forms. The thing to focus on is that the government should have ownership (as the representatives of the people) of utilities, housing, medical and legal systems. The government should provide for the poor, the sick and the unfortunate. People who make lots of money should be taxed, as very few of them will voluntarily share their wealth. Every able person should be able to make the best use of what they are good at for the benefit of society. This is the true basis of socialism – to each according to their needs, and from each according to their abilities. There is no hope for the current system – even the rich know this, and that is why they keep building up surveillance, military, police, jails and spies. One day the masses will come for their share. I hope the USA can prove that it is possible to achieve socialism through democratic means.

  • Tax their profits no matter where they get them. That's how private citizens are taxed.

  • Too bad none of these populists will actually listen to a real Marxist.
    They start in with their rabid anti-communist propaganda talking points without any real knowledge.

  • Thanks dr W.
    1.25x speed is best for your speaking style 😅

  • can't some court pay for the victims' hospital bills from the murderer's estate?

  • How old is prof. Wolf? (Sorry) >60?

  • Very Good , Economic Videos
    Congratulations , Richard W. , for be brave to explain the true…

  • This new attitude of two tier viewership, has had a truly repulsive effect on me, just one viewer. Advertising interviews with Michael Hudson, and Chris Hedges, without making them accessible to all, even after a period of exclusivity for paid patrons? I find it repulsive, and very sad. Such a capitalistic trick for a socialist?!

  • The slave masters have to lookout for their best interest

  • Vegas was an inside job, like 911. The government is responsible for all forms and acts of terror, since the topic also includes psychology. This is more public relations from Edward Bernays' playbook. Maybe we should abolish the CIA, NSA, and FBI for doing us more harm than good. The TSA, DEA, ONDCP, ICE, and Border Control can all go too.

  • SINGLE PAYER MEDICARE-FOR-ALL NOW! ! ! !

  • RUN FOR PRESIDENT!

  • Always excellent! My comment about the tax cut for the big corporations: they must have copied Italy because we had the same "discounts" offered graciously by the Berlusconi's (himself a tycoon) government!

  • When you live in a corporatist propaganda state, like every American does… how are you supposed to know what is real and what is fabricated?
    We need to place the blame on the corporate overlords responsible for all of this… and we need to work quickly, as we are running out of time. 😔

  • The system in the US is simple: self interests over that of the community: me before you. You could also apply the words "greed" and "gluttony" (2 of the seven deadly sins) as enough is never enough, we want more, more, MORE for US and to hell with you. That's capitalism for you. Now, just how many "Christians" do we have in this country? In 2015, a poll said 75%. And what party embraces Christianity? Republicans. And what does the Bible say about money? "You cannot serve both God and Money." Matthew 6:24, "Jesus answered, 'If you want to be perfect, go, sell your possessions and give to the poor, and you will have treasure in heaven. Then come, follow me.' " Matthew 19:21 and more https://www.biblemoneymatters.com/bible-verses-about-money-what-does-the-bible-have-to-say-about-our-financial-lives/ . This country is full of a bunch of greedy, self serving hypocrites. I'm not even Christian and I follow these tenants better than most supposed Christians.

  • Re: Wheeler County Georgia has no hospitals – but a quick Google search shows they have a couple of prisons…

  • seems to me i remember trump promising to go after these corporate tax evaders, wasn't that where the whole "drain the swamp" thing came from?

  • great show, wmnf in tampa used this show in their pledge drive, the more people who listen to richard the more popular it gets, they run it right after democracy now.

  • We just had 8 years of Obama, the passing of Obamacare and Hospitals are failing? Skyrocketing costs?????? How is this possssible it must be a miss quote because we just had 8 years of Obama and obamacare that fixed everything so how cna hospitals be closing? Fake NEWS….

  • Lol, Russia went from a fictional Communist country (really a oligarchy) towards a fictional democracy (really a oligarchy).

    Wow, great video, keep them up.

  • Russia exchanged one oppressive government for another.
    And same economic results too. For a moment during the collapse it was a shit hole, hence why some Russians think fondly of the days of the USSR; they would forgo the liberties for the economic security they had.
    Which is both sad. There are better democratic methods to economics.

  • I stopped being a Patreon of any groups that I felt even waffled on the issue of socialism : I love Progressive shows but stopped donating to them after they continued to push ideology like Bernie. Im done with Ideology and want only truth. Thank you Professor Wolff, Ive listened to you for years and am sharing your videos now to wake more people up.

  • It is and always will be utterly impossible to "earn" wealth.

  • I love you Doctor Wolf. I always share.

  • Richard Wollf – Very Very interesting to listen to you on items I would otherwise not have a clue about and always feel quite smart when I can use your information when in debate. However I am not sure you got it right when you said Corbyn's Labour party was not trickle down, that it was trickle up not trickle down – That would make him a neoliberal, and he is not that! (19:10). But otherwise you are quite right, the UK is heading for trouble!

  • Please get a teleprompter, and center yourself more to the left of graphic on your left, viewer's right. Great to see you creating people's media.

  • AMAZING THEME SONG and opening graphics!!! Congrats!

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