brilliant books including capitalism is crisis deepens essays on the global economic meltdown richard wolffe welcome back. thank you tom it's great having you with us first things first from an economist's point of view how do you understand white supremacy and fascism how do they develop and how their reaction to specific economic conditions. yes i believe they are i believe if you go back to the nazi experience in germany the fascists in spain and italy that you will see a very strong relationship things like this are always caused by many factors but a very strong relationship between economic breakdown and collapse on the one hand and the desperate search that people go through to explain to them selves what's happening to them why they are losing their jobs why their income is declining why the prospects for their children are looking grim and difficult and in that process anybody who can come up with some plausible or even fantastical explanation kind of gets a hearing because people want to understand and the right wing folks with their conspiracy theories with their notion that immig

donald trump's kleptocratic approach to government the logical conclusion of reaganomics last richard wolffe in just a moment and bloomberg is reporting that the koch brothers are now running p.r. for the trumpet ministrations plan to cut billionaires taxes is this the kind of outright collusion between white house the white house and the come country's most powerful oligarchy really come out of all with our democracy last brian darling and sam sachs and it's politics and. a former top government watchdog thinks the donald trump is turning our democracy into something that looks less like a democracy and more like a kleptocracy in a new interview with the guardian walter shaab who resigned earlier this month as the head of the office of government ethics so the trumps business ties have created a cloud of suspicion surrounding his entire administration we can't know whether his decisions are motivated by his policy aims or his financial interests shaab says and that uncertainty alone undermines the faith in governmental decision making and puts a cloud over everything the government does end

the distance the warning signs are growing are we heading toward another financial crisis as richard wolffe in just a moment and is donald trump pushing us closer to victory in afghanistan or to a permanent military occupation the last ten ted goodman and isaiah poole in tonight's politics. mark twain supposedly once said that history never repeats itself but it does rhyme the same could be said about capitalism almost ten years after the last financial crisis the same forces that brought our economy down in two thousand and eight are again rearing their ugly heads but this time instead of subprime housing loans it's subprime auto loans that have some observers talking about the next big banks to meltdown joining me now is richard wolfe visiting professor at the new school co-founder of democracy at work and the author of numerous books including capitalism is crisis deepens essays on the global economic meltdown richard wolffe professor wolfe welcome back. thank you glad to be here it's great having you with us so as i mentioned there are now real concerns about the subprime auto industry

numerous books including capitalism is crisis deepens essays on the global economic meltdown richard wolffe welcome back. thank you very much glad to be here tom great having you with us before we get into the stock market stuff and all the things relating to it. i'm curious your thoughts and you know as a student of history and economics. what what's the relationship between war and the threats of war and an economy. it's an old story it's a very dangerous game it has a little bit to do with the temptation for leaders for many many generations when they've backed themselves into a corner when they've made promises they are finding it impossible to keep to solve their economic and political problems by a war. sometimes there are all the reasons of course for the war but the political and the economic are always in the mix and so i suspect that mr trump facing his failures to get the health reform as he called it through having taken way too long to get almost anything done is trying to figure out what to do and which way to turn and there are always people who are telling him that war is wh

house but is the stock market surge of the past few months just a mirage will ask a lot of us richard wolffe in just a moment. they were.

numerous books including capitalism is crisis deepens essays on the global economic meltdown richard wolffe professor wolfe welcome back thank you glad to be here it's great having you with us so as i mentioned there are now real concerns about the subprime auto industry our auto loan industry which is now worth about twenty six billion dollars and it's starting to see delinquency rates that we literally have not seen since the housing market crash what do you make of what's going on here. well i think the evidence is mounting as you say indeed on my way to the studio i was reading about the collapse in the last twelve hours of something called providence financial bank in great britain it's a bank that started in one thousand a.d. and it specializes here we go in sub prime loans to personal borrowers for homes cars and a whole lot of other things in great britain this is a very scary sign that bank lost two billion dollars worth of its capital value literally over the last twenty four hours as a panic as develop there that they made loans to people who couldn't possibly pay them back that

democracy at work founder and the new school visiting professor richard wolff is with us now.ight? >> i am. happy to be so. stuart: in -- i can't believe it. actually -- >> life is changing. it always does. stuart: okay, comrade. does elizabeth warren, the good senator, has she gone far enough enough heft for you? surely not. >> no, she hasn't, but i can see what she's doing is continuing, in a sense, what bernie sanders was trying to do, which is to open up the question of what direction that party should be. and i think it's a reflection of what's happening in the united states as the country splits more and more between rich and poor and those who benefit from government programs and those who don't and so on. there are going to be questions about the political life we lead, and the old style is going to vanish and new parties and new splits will are emerge. she's just part of that. stuart: that's interesting political commentary bearing in mind the state of america today. >> right. stuart: now, bernie sanders, he wants to go a little bit further left, i think. he's got thi