we've talked about that a lot in the show professors richard wolf, and arthur don, thank you so much for you, and i will do it again soon. thank you. and finally, the largest mangan, the u. s. has become the 1st one to stake, is claim in the multiverse, introduce the onyx lounge in the central land this week, which is an odd to the company's theory and be services. now as you can see here from the screen shot which was posted on twitter, the laundry appears to be pretty simple. and of course that comes complete with a spiral. 2 staircase, and even a tiger because why not? now if you're wondering why j. p morgan did this, well, they say they are open to all clients, both in the real world. and in the matter verse in a statement the bank said, is these virtual real estate continuing to grow? which means they will be, there will be a market for services that include credit, mortgages and rental agreement. that's really all you need in the virtual world is more credit. meanwhile, disney is also getting involved in now i think it is appointed a new leader of metaphors strategy. while the

well, joining with john is richard wolf is the host of economic and author of the thicknesses the system when capitalism fails to save us from pandemic or itself, professor wolf. i mean, if it concerning that we're seeing this big jump in personal that are there worries that when the economic bubble does birth as it eventually will, this is going to become a real problem. absolutely. we are now seeing levels of consumer debt higher than they were in the run up to the great recession of 2008 and 9. let's remember what the name of that was session was a sub prime mortgage recession. that's what it was originally calls. and why? because people had loaded up on so much personal debt that they could not any more pay on that day, not the interest and the principal. and so they did chose not to pay their mortgages as one of the things save on because they couldn't do it. and we're here now again with a population deeper and deeper in debt. it's cost that crash. what one of the worst we've had in our history, and it's every indication that we're moving in that direction again. absolutely. and co

there will continue to follow those talk. professor richard wolf and ben bus spend one. thank you both for your time and insight. thank you. and from the impact of one international conflict to another, it appears that the cost of replacing telecom equipment that has been deemed as presenting a quote, national security threat. well, is much more a much more expected or expensive than expected. in fact, while the federal communications commission set aside $1900000000.00 for their rip and replace program aimed at getting rid of technology from chinese companies like, while way in the t. well, us carriers are now saying they will need at least $5600000000.00 in order to get the job done. so just a little bit more than was originally in that budget. now the chair, the fcc, took the twitter to say the agency receive $181.00 applications from companies looking to replace their equipment and to receive the funding to do so from the fcc secure and trusted communications networks reimbursement program. however, that additional funding requires approval from congress, which it is

impact the ongoing tensions was joining us now to discuss with her husband swan and professor richard wolf, host of the economic update. then let's start with you here. now we have germany's new chancellor. he's facing criticism for staying silent at such a crucial time. so why do you think he is stepping up now? and is he trying to hard to keep everyone happy instead of really standing up for the interest of his own country? well, the difficult thing is that by trying to keep everyone happy, that's what he thinks he is doing. right? he's protecting the people in his country because you have a lot of pressure coming from the united states and nato right now to really condemn russia. and to ratchet up tension with russia. so it's not that the u. s. is working to, to calm things down as a 3rd party. instead, they seem to be the ones racking up. we see that all the time, especially from the comments being made by the president of ukraine right now, who says it's the u. s. that's doing a lot of this in terms of creating a much bigger situation than what is actually happening on the ground. the

well now, except refugees from ukraine. economists to richard wolf claims that barring russia from the swift banking system would cause huge financial problems. world war in a global world more globally interconnected than ever before. if you blocked the swift system, you are declaring a kind of economic warfare that will damage and destroy all kinds of economic relationships. the reason mister schultz and germany did not want to and stopped the attempt to convert to fries russia out of swift, was because it would throw the price of oil and gas up in the food beyond what it has already been. because you couldn't pay russia for the oil and gas through swift, and they wouldn't send it any more. and no one knows where that's going to go. so if they do that, if they actually go through with that, they will disrupt global trade. they will drive inflation through the roof. and let me remind everyone, russia, china, iran, and many other countries don't like the domination, the united states as over the swift system. and it really is only a matter of time before there are multiple systems. bit

while now accept refugees from ukraine. economists richard wolf claims the bar in russia from the swift banking system would cost huge financial problems. world, what in a global world, more globally interconnected than ever before? if you blocked the swift system, you are declaring a kind of economic warfare that will damage and destroy all kinds of economic relationships. the reason mister schultz and germany did not want to and stopped the attempt to convert to fries russia out of swift, was because it would throw the price of oil and gas up into the roof beyond what it has already been. because you couldn't pay russia for the oil and gas through swift, and they wouldn't send it any more. and no one knows where that's going to go. so if they do that, if they actually go through with that, they will disrupt global trade. they will drive inflation through the roof. and let me remind everyone, russia, china, iran, and many other countries don't like the domination, the united states as over the swift system. and it really is only a matter of time before there are multiple systems. bitco

, we don't want to raise wages 7 percent because inflation will eventually come down professor richard wolf. thank you so much for your insight as always. thank you. and i'm now for a quick break. only come back to you is joining the u. s. and plans are ramp up trip for production and hope of putting an end to the ongoing shortage. we'll discuss, and as we go to break here, the numbers out to close with while tensions remain high over ukraine, one thing has abundantly been made clear. russia and nato have fundamentally different ideas about can european security. and neither side appears to be in the mood to compromise. is this why the propaganda war is reaching newheights? with the mediterranean is the world's most over fish. see unsustainable exploitation of its fish, dogs. what's marine biodiversity undergoing threat as you medicine? so listen mechanical dos me sure. your guest on this is because our system i'm working from a key capital from it on up to tech and want to put a loose despite the eas promises to end over fishing by 2020. the situation is changing too slow. today, well, i'm

, we don't want to raise wages 7 percent because inflation will eventually come down professor richard wolf. thank you so much for your insight as always. thank you. and i'm now for a quick break. only come back to you is joining us and plans are ramp up trip for production and hope of putting an end to the ongoing short it. well that's good. and as we go to break here, the numbers at the close. aah! with bring you the very latest every out the day. this is are now snow from everyone. here with the mediterranean is the world's most over fish seen on sustainable exploitation of its fish dogs, which maureen biodiversity under great thread. a lesson the getting the quote, our special guest on this is because our system, i'm not going to pull the cookie careful with tech and want to put our lives despite the promise is to end over fishing by 2020. the situation is changing to say, well, i'm very disappointed with the position that they basically not take in public interests. they also do know in the midst of interest of the fishes, the only to fishery the bay shall the only ones endanger the fi

to fix the problem and it's expected to raise interest rates in the coming months. economists, richard wolf says the american economic system has reached a dead end. this inflation comes after a 2 year period. that in many ways has been the most difficult for working class. people in american history over 80000000 have been unemployed for some period of time over the last 2 years, some for only a few weeks. others for a long time. in other words, every family in the country has been hurt financially and economically over the last 2 years. that's the reality for them. now. when they thought maybe the worst was behind them to be hit with an inflation that is as bad as any we've had for at least the last 40 years makes this an urgent economic and political and ideological prices for the biden administration. mr. biden's program is as risky in what it proposes to do about the inflation as the inflation is likewise, a risk. it is, there's no way to get away from this. the american economic system has reached out kind of dad end. okay, those are some of the big developments for to cross for you t

sanctions hurt the united states quite as much as they heard russians. less gross logged out, richard wolf, agronomist. i an author of democracy at work. your for capitalism likes for joining us, are good to have in the program today. now, let's talk about sanctions. the u. s. has said, is cutting of round 13 major russian companies from raising money on west the markets. things a joints like gas from us, burbank, what impact you think was going to have? well, you know, the united states has been sanctioning russians at least as far back as the 900 nineties in major ways in the country on earth. even though russia is not the only country that the united states has sanctioned iran, china, and so on. are also on the list, but no country has more experience with sanctions than russia. no country has had as many years to prepare for, to find ways around to evade these kinds of sanctions. they've been threatened for weeks. it's hard to imagine that many, many russians, vulnerable to the sanctions, haven't already taken the steps to minimize or remove that vulnerability. and so sanctions, which

, we don't want to raise wages 7 percent because inflation will eventually come down professor richard wolf. thank you so much for your insight as always. thank you. and i'm now for a quick break. only come back to you is joining the u. s. and plans to ramp up trip for chip production and hope of putting an end to the ongoing shortage. we'll discuss and as we go to break here, the numbers at the close. ah, [000:00:00;00] with bring you the very latest every out the day. this is now snow from everyone. here with the mediterranean is the world's most proficiency unsustainable exploitation of its fish, dogs. what's marine? biodiversity undergoing thread? a lesson? the key in the quote, our special guest on this is because our system i'm not going from going to pull nicky, careful from with tech and want to put our lives despite the ease promise is to end over fishing by 2020. the situation is changing to slow. well, i'm very disappointed with the politicians that they basically not in public interests. they also do know in the mid interest of the fishes, the only interest of the fishery will b

wolf. >> alexandria field reporting for us. let's discuss this with dr. richard besser. s just announced plans to end school mask mandates within the next month or so. is the timing right? >> well, wolf, i think what they're signaling is that the trends we're seeing are very encouraging. if they continue, then there is the light at the end of the tunnel for a lot of children in schools. i'm a pediatrician. and it is critically important that we keep children in school learning. and as it is safe to do so, it is important that we're able to normalize the behavior that a child has. for a child learning to speak or learning to read, who speaks another language, not being able to see teachers face, that has real impact. but i think it is really important with each of these announcements and i wish i heard more of it, to say that this is being done because the numbers are moving in the right way. and if things turn around and we may be back to you saying we have to put masks back on children. these are things that could go in both directions an the more you let people know tha

richard will and been best christy, i think you both for your time insight. thank you. and on the topic of workers here in the united states, as professor wolf just mentioned, the native continued to see the fight to unionize that major corporations like starbucks, an amazon nearly 2 months after workers at starbucks store in buffalo, new york became the 1st in the corporations history to vote in favor of unionizing . the movement has now grown to 54 stores in 1900 state pursuing union election. now that may just be a fraction of the companies, nearly $9000.00 stores across the us. but it also comes as the coffee chains announces it will increase prices for consumers due to supply costs, while starbucks, the kevin johnson. well, he received a nearly 40 percent pay raise from 2020 to 2021. definitely more than the average worker. and meanwhile, workers at the amazon warehouse and bessemer, alabama are gearing up for a 2nd union vote, which was ordered by the national labor relations board following concerns about the ways in which amazon influence last years, highly publicized vote. and the new york times is also trying to shut down a union b

wolf reacts to joe biden's failing migrant policies when we come back. before you go there, or fist bump there, or...oh! i can't wait to go there! . . >> carley: democrat senator richardg to the pace biden administration is evacuating allies from the afghanistan. >> i'm down right upset with the lagging effort in evacuating at risk afghan allies from that country. these men and women and their families put their lives on the line to protect our troops and diplomats, and we are failing to rescue them. >> carley: the democrats' comments come after a close hearing with secretary of state antony blinken and defense secretary lloyd austin on their progress. 18 g.o.p. senators now calling for a public hearing as well. >> todd: the biden white house won't answer one single question about those secret midnight migrant flights. if that wasn't enough turns out you, the american taxpayer, spending over 340 million bucks to make them have it. >> former acting dhs secretary chad wolf joins us now with his reaction to this. you know, chad, a recent cbs news poll showed that only 36% of americans agree with the biden administration's immigration policies. you would think the adminis