together a great show for you tonight on tonight's episode lee camp sits down with the qana missed richard wolffe professor emeritus of economics at university of massachusetts amherst and formerly a professor of economics at yale and the new school among others he's also the founder of democracy at work and host of economic update on you tube and they have a very interesting conversation about workers' strikes then i go into aggressive policing and redacted correspondent some fact checking on voting but 1st let's go to that discussion between camp and richard wolffe professor wove thank you so much for joining me. my pleasure me glad to be here i don't know anyone better than you to diagnose the problems right now or looking at an economic crisis possibly 30 percent unemployed people thought for an across the country and around the world if only someone had told us that such a crisis might happen if only there had been some kind of warning signs but instead no one could see that capitalism would have such a problem is that right. well as a few of us to but basically you're right the consensus wa

secretary is adamant though that the trumpet ministration will spend whatever it takes economists richard wolffe again ses and government is the only force that can solve the current crisis but is being held back. we now have somewhere between 27 and 30000000 people unemployed that is by the way a serious on do a count of this point the only thing would be a massive intervention by the state by the government to try to no other social source exists in the western capitalist parts of the world but probably anywhere other than the government and here then is the problem the government is controlled in the united states and in most other parts of the capitalist world by the private capitalist sector and they don't want the government to take steps that threatens their control so the government can't do. with lockdown taking its toll many are in need of creature comforts what better than a group of friendly alpacas it's got up close and personal with the adorable animals will pay its via video link. so it's friday. why the way it's quarantine days 795 full disclosure i'm a big fan i pretty much only

on this bailout of the airline industry and some other economic news we're joined by professor richard wolffe host of economic update and author of understanding socialism now professor what you just heard what ben said and actually that was exactly how i was going to open this interview was how can it they put there and they were the 1st to have their hands out and now we're seeing even just within the last couple of hours the s.b.a. loan program is basically falling apart and it's already run out of money so what do you make of this whole situation with this airline bailout. i could not agree more with your previous interview he has it right this really burchinal terribly likely to be a lot of the old. and nobody knows who would beat it most a small correction the total value of the gift of the airlines is closer to $6060000000000.00 than $25.00 yes it's $25.00 in outright grants and loans of the sort you spoke about but there's an additional 25000000000 of what i call loan guarantees in which the federal government says you know where the banks borrow money to get the best deal imaginable

stronger among its people are rather than the reverse all right we'll leave it right there professor richard wolffe always appreciate your expertise thank you. thank you very much. the origin of the corona virus has been a politically sensitive issue for china and a point of contention between democrats republicans and president trump who were for to it as the chinese virus now one state has filed a lawsuit against china accusing the country of lying and covering up the virus when it 1st appeared back in late 29 teams so for more on this let's bring in our team is far from that ferret this could be the 1st of maybe many states following suit that's right manilla missouri's attorney general eric schmidt he's leading the case and after talking with economists at the university of missouri the state is looking to get upwards of 40 $4000000000.00 that's with a b. now missouri is the 1st state to file suit against china and to seek damages in this way and it could be the 1st like you said of many states doing this now according to the lawsuit it reads quote during the critical weeks of the initial outbr

well joining us now is host of economic update and author of understanding socialism professor richard wolffe professor thank you for joining us today let's start with this question what might happen economically if more data shows and comes out that it shows there's a lower than expected death rate from the coronavirus. well frankly at this point the uncertainties and the confused information is so global in scope that i don't think there isn't any way to to answer any of this kind of question there are lots of theories that the virus could come in waves which means we won't be out of the woods friday definitely that time the economic breakdown is now so complicated in a world that has more on supply chains than we've ever seen before a greater level of indebtedness linking economies that these kinds of predictions they're really not possible and it isn't all that helpful for people to start doing that because it implies a level of knowledge and control that i wish we had but i'm on this the telling you we don't extremely complicated situation as you said professor because a lot unknown but

to the economy the way we handled this was very self-defeating for the united states professor richard wolffe host of economic update thank you so much for your time today. thank you brant. and that's it for this time you can catch boom bust on the brand new portable t.v. up available on smartphones through google play and the apple app store by searching portable t.v. or you can check it out at portable dot t.v. and as always check us out on you tube dot com slash boom bust r.t. see you next time. as the u.s. economy was booming growing numbers of people were made homeless. you can work 40 hours 'd in a week in still not have enough to get housing everybody believes america still has the lead up to the reality of the. financial equality and the lack of affordable housing living minimum wage give many people new choice. there's been a problem with the city knows good. food that. the most vulnerable are abandoned on the streets to become invisible comes. to hurt me often speak of the black hole of debt that is where all the debt in the universe ends up after it leaves a central bank balance sh

together a great show for you tonight on tonight's episode lee camp sits down with the qana missed richard wolffe professor emeritus of economics at university of massachusetts amherst and formerly a professor of economics at yale and the new school among others he's also the founder of democracy at work and host of economic update on you tube and they have a very interesting conversation about workers' strikes then i go into aggressive policing and redacted correspondent ender's lee does some fact checking on voting but 1st let's go to that discussion between we camp and richard wall for us reward thank you so much for joining me. my pleasure me glad to be here i don't know anyone better than you to diagnose the problems right now or looking at an economic crisis possibly 30 percent unemployed people suffering across the country and around the world if only someone had told us that such a crisis might happen if only there had been some kind of warning signs but instead no one could see that capitalism would have such a problem is that right. well reza fewer crust but basically you're right the c

together a great show for you tonight on tonight's episode lee camp sits down with the qana missed richard wolffe professor emeritus of economics at university of massachusetts amherst and formerly a professor of economics at yale and the new school among others he's also the founder of democracy at work.

show to the economy a way we handle this was very self-defeating for the united states professor richard wolffe host of economic uptick thank you so much for your time today. thank you brant. and that's it for this time you can catch boom bust on the brand new portable t.v. up available on smartphones through google play and the apple app store by searching portable t.v. or you can check it out at portable dot tv and as always check us out on you tube dot com slash boom bust r t c n x type. one almost shows seem wrong. when all rolls just don't hold. me close yet to shape out these days become educated and in gains from it because of the trail. when so many find themselves worlds apart we choose to look for common ground. as the u.s. economy was booming doing numbers of people were made homeless. you can work 40 hours in a week and still not have enough to get housing everybody believes america still has the lead up to the reality of it we're not financially equality and the lack of affordable housing or living minimum wage give many people no choice. that's been a problem with the city knows t

together a great show for you tonight on tonight's episode lee camp sits down with the condom is richard wolffe professor emeritus of economics at university of mass of.

together a great show for you tonight on tonight's episode lee camp sits down with the qana missed richard wolffe professor.