guest, so let's take a listen to that conversation. now joining me now to discuss is professor richard wolf, an american economist, author, founder of democracy at work and host of the economic update. professor wolf, thanks so much for taking the time to join me. thank you, rachel, i'm really glad to be here. it's always good to have you on the show. now, i want to start out kind of with your outlook on the us economy right now. i thought it was interesting. reuters published an article with the title, the mismatch in us economy perception versus. reality and they look at the gap kind of between wall street and main street and they seem to blame it on the public's pessimism towards the economy saying that that is fueled by social media populism, misinformation and fear mongering. how do you view the state of the us economy right now and is there a good reason why americans are basing it off of prices, they see at the grocery store and really the overall cost of living? yes, i find it astonishing and and frankly that so many of my colleagues, professors of economics in the university or on

richard wolf's recently said this about what's going on these crazy times we're experiencing in america right now. that the mileage states is a deeply divided, deeply troubled society. these days, the empire which we built and ran for the last 75 years, is declining. and there is richard wealth professor, thanks so much for being with us. thank you very much for the flattery of a flipping my presentation. despite my ad, i like that by the way. i just looked it up and marianne webster. you ready for this? i was right, it is the jig is up, was the word use and the definition provided by merriam webster is used to say that a dishonest plan or activity has been discovered and will not be allowed to continue. there you go, i got it right. absolutely. and believe me, it has been common knowledge. i follow the european press that i have for 20 years . it's been common knowledge run, pay story long before it is the landscape became the head. and since, mm hm. not that is a corrupt country, even by the standards of other countries in europe, who have a lot to say about all that to do you think t

think the, the word that di, since we're a little older than you and maybe the good professor richard wolf would use is the jig is up. i think that's the terminology guys up. i think i don't know. we'll have detective. and i will say that it's there. what is the correct the lab or? uh, thank you manila, always a pleasure. when we come back and when we go, i'm by somebody that i've learned so much from over the years professor of economics has called it like it is continues to do so. and he's going to join us right here just a little bit, stay there. so we'll be right back, the only 41 percent of you at the delta and i'm savings to cover a $1000.00 emergency. if we have record numbers of americans who are on the verge of having their cars repossess more than a 137000000 americans are facing financial hardship because of medical then in america, we do have a welfare system in place to help people who are struggling financially, but it's a conditional system you have to prove to the government that you truly need help. the simplest way and like explain the basic income is that is like social

know we've discussed this with economies an author about democracy at work a cure for capitalism, richard wolf by the he explained the reasons behind the wiring size of us debt. the reason the government of the united states borrows is because it spends more money that is demanded by the corporations to support them by rich people to support them and by the mass of people to support them. it spends more money than it taxes. and the reason it does that is above all, that if the government dears, to really heavily tax those most able to pay corporations and the rich, they will find themselves push style offers. and everybody should understand what corporations in the rich want is not to pay taxes and they succeed. and then the government doesn't have adequate revenue. so what does the government do? it borrows for whom does it borrow from answer corporations and the rich or lender to the government. the money that they refuse to give to the government as taxes. that makes much sense for corporations and the rich, but it produces these awful i there is mr. powell says, unsustainable deficit. lead

think the, the word that di, since we're a little older than you and maybe the good professor richard wolf would use is the jig is up. i think that's the terminology guys up. i think i don't know. we'll have detective and actually won't say that it's there. what is the correct the lab or? uh, thank you, manila, always a pleasure. when we come back and when we go, i'm by somebody that i've learned so much from over the years professor of economics has called it like it is continues to do so. and he's going to join us right here just a little bit, stay there. so we'll be right back the the, the, [000:00:00;00] the, after the nazis bower in italy, states foreign policy became extremely aggressive. benito mussolini needed glorious victories. he decided to achieve his ambitions in africa. despite the fact that formally libya had become an italian colony back in 1912. the vast territories of this country were not actually controlled by rome. the nazis decided to put an end to this. but as soon as the religious order of this genocide stood in their way, the arabs did not want to submit to for and

biden at this point in their terms, while those were two of them, ronald reagan with 25, richard nixon with 24, wolfan todd. thank you very, very much i'm wolf blitzer in the situation room. our special coverage of president biden's news conference continues with erin burnett >> burnett outfront right now

biden at this point in their terms, while those were two of them, ronald reagan with 25, richard nixon with 24, wolf brian todd. thank you very, very much i'm wolf blitzer in the situation room. our special coverage of president biden's news conference continues with erin burnett >> burnett outfront right now is cnn breaking news good evening i'm erin burnett and outfront tonight we begin with the breaking news. we are moments away, seconds away from president biden's high stakes news conference, a solo news conference. and what is the reality of the situation we are in a highly consequential moment that could be a turning point for his campaign. members of congress, donors vote odors, strategist, world leaders, all of them are watching this moment. as the president of the united states tries to extinguish growing calls for him to step aside from his reelection campaign. kayla tausche is live from the news conference, which as i said, is just a moment here or two away from beginning. so kayla, you are in that room? watching these final preparations for the president of the united states to come out

dan is deputy chief investment officer at richard bernstein and chris at wolf research.you. chris, do you have any data or charts that would tell you, kind of point you to where you would want to be? or do you anything right now or do you sit and wait? >> hi, kelly. i don't think you sit and wait. i think the train's left the station. investors have been structurally underweight, financials and energy and some other earlier cyclical areas of the economy not knowing at the end of the day if it's truly a late cycle or early cycle environment because there's very much been mixed signals. now i think markets are coming to the conclusion, even before the event over the weekend, that the fed is likely to cut some time this fall, whether it's september, november or base case is september. and you potentially have the possibility of trump winning the presidency in a gop-controlling congress, which would probably lead to a more pro-growth and bigger fiscal package next year. so the positioning we've seen i think have a lot of room to run. namely financials and traditional energy,

richard simmons has died. chris wolfeeer. >> one day after his 76th birthday, legendary fitness personality richard simmons passed away at his home in the hollywood hills saturday morning. police and fire officials say they arrived at the scene around 10:00am following a call from the housekeeper. the death appears to be the result of cardiac arrest and natural causes. why? simmons was born in 1948. in new orleans, louisiana, and relocated to los angeles in the 1970's with his flamboyant, yet compassionate disposition frequently, wild costumes and exploding frizzy hair. he quickly won over legions of loyal fans after opening a number of gyms and releasing dozens of workout videos, namely sweating to the oldies. he also hosted the richard simmons show a combination talk and fitness show from 1980, to 1984, simmons always shared that he had a difficult childhood being significantly overweight but managed to change his life with a strict diet and exercise program. millions of people struggling with similar issues sought out

richard simmons has died. he died at his los angeles home. who was a 76. chris wolfe look at his career. >> one day after his 76th birthday, legendary fitness personality rictard simmons passed away at his home in the hollywood hills saturday morning. police and fire officials say they arrived at the scene around 10:00am following a call from the housekeeper. the death appears to be the result of cardiac arrest and natural causes. why? simmons was born in 1948. in new orleans, louisiana, and relocated to los angeles in the 1970's with his flamboyant, yet compassionate disposition frequently, wild costumes and exploding frizzy hair. he quickly won over legions of loyal fans after opening a number of gyms and releasing dozens of workout videos, namely sweating to the oldies. he also hosted the richard simmons show a combination talk and fitness show from 1980, to 1984, simmons always shared that he had a difficult childhood being significantly overweight but managed to change his life with a strict diet and exercise program. millions of people struggling with similar is

richard goal goldinger. i appreciate your time. and again, i'm sorry, it's under these circumstances, will continue to check in with you. thank you. wolf. thank you. anderson. >> anderson. thank you. are the pennsylvania republican senate candidate, david mccormick. was there at this rally in pennsylvania. he's eyewitness to what unfolded. he's joining us right now. david. thank you so much for joining us. give us your eyewitness account of what you saw, what you heard, and what you believe happened yeah. well, thank you i was in the front row, so the president was speaking out to the to the crowd. look like a big crowd. i think i was told to 15,000 or so and i was seated to his right in the front row and he had actually just announced me and invited me up to the stage and then said no, no, i'll have you come up in a few minutes and about a minute or so after that we heard a series of shots. i think seven or eight shots just pop, pop, pop i was a former army guy. they sounded like a small caliber weapon, but obviously i'm not sure about that. and it was like all of a sudden just chaos the secret service immediately covered the presiden