It's Worse Than you Think — Richard Wolff
It’s Worse Than you Think — Richard Wolff
Richard Wolff US economy warning: Wall Street is near record highs, so why does he say life is getting harder for most Americans, and who ends up paying the bill when borrowing costs keep rising? In his latest interview, economist Richard Wolff, professor emeritus at the University of Massachusetts Amherst and founder of Democracy at Work, argues that America is a shrinking empire and that the cost is landing on ordinary households. He explains why a rising stock market says little about the 90% who own few or no shares, why military power has not given Washington control in the Strait of Hormuz and the Red Sea, and why the US is the world’s biggest debtor, with lenders now demanding higher interest. Then he brings it home: how interest on government debt comes out of your taxes, why he says mortgages at 7.5% put a home out of reach, how diesel pushes up supermarket prices, what he makes of cuts to government jobs and health coverage and the protests in France, and why he says the only real question is whether America declines through shared sacrifice or through division.
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