2020: The Next Great Depression (w/ Richard Wolff)

We are in the middle of the severest depression, ever. Unemployment is at an all-time high and many people will never work again. Should the government employ many of these unemployed people, as happened the in great depression 100 years ago? Or will they just ignore them?

Richard Wolff on How American Capitalism Is Just Socialism for the Rich

Professor Richard D. Wolff discusses how "recent news reports have exposed a certain scandal surrounding the Payroll Protection Program that the government allowed, now that Capitalism crashed here in the United States; at the same time that the failures to prepare for, or to contain the Coronavirus, have engulfed our country."

Steve Rattner: US Economy Is Still in Shambles | Morning Joe | MSNBC

Ahead of the RNC and potentially ahead of Trump's claims about the economy, Morning Joe economic analyst Steve Rattner argues the U.S. is not rebounding quickly. Aired on 8/24/2020.

Economic Update: China: Capitalist, Socialist or What?

On this week's episode, Prof. Wolff talks about the Chinese economy. China is run by a Communist Party but describes itself as socialist, while the employer/employee structure of its enterprises is capitalist. We examine what this means for (a) its place in the world economy, (b) its place in the transition from capitalism to socialism/communism, and (c) its conflict with the US.

Gold Worth about $3.8bn Expected in Northern Ireland Mountains

The Sperrin Mountains of Northern Ireland are thought to be hiding about $3.8bn worth of gold. That has drawn the interest of a Canadian mining company. But many people there say they want the metal to stay underground, despite high gold prices and the prospect of new jobs. Al Jazeera's Rory Challands reports.

What's Driving the Gold Rush on Financial Markets? | Inside Story

The coronavirus pandemic means we are facing our worst ever recession.

When times are tough, investors tend to put their money into so-called 'safe haven' assets such as gold.

The gold price hit a record high of $2,060 an ounce a couple of weeks ago, a 30 percent rise this year.

Could the rush affect the chances of economic recovery from the coronavirus pandemic?

Presenter: Imran Khan | Guests: Christian Lawrence - Senior Market Strategist at Rabobank; Michael Hewson - Chief Market Analyst at the financial firm CMC Markets; Arun Kumar - Professor of economics at the Institute of Social Sciences

China and Iran Draft a $400 Billion Pact

Didn’t Trump and Pompeo do well? – Mark

Grifters: Episode One

We all know Trump’s a scammer. Stiffed contractors. Ripped-off business partners. False advertisements. Bankrupted businesses. But the apple doesn’t fall far from the tree.

Tax the Billionaires

At a time when so many are hurting, the very, very, very rich should not be getting much richer. By taxing the wealth gains made by just a few hundred billionaires during this pandemic, we can provide health care for all.

UK to Plunge into Deepest Slump On Record with Worst GDP Drop of G7

THE GUARDIAN: Official measure to be declared this week as coronavirus lockdown shrinks GDP by 21% in second quarter

Britain’s economy will be officially declared in recession this week for the first time since the 2008 financial crisis, as the coronavirus outbreak plunges the country into the deepest slump on record.

Figures from the Office for National Statistics on Wednesday are expected to show that gross domestic product (GDP), the broadest measure of economic prosperity, fell in the three months to June by 21%.

After a decline of 2.2% in the first quarter, the latest snapshot will confirm the UK economy’s descent into recession after the outbreak spread in March and the government imposed a nationwide lockdown to contain it. Economists consider two consecutive quarters of shrinking GDP as the technical definition of a recession. » | Richard Partington | Sunday, August 9, 2020

Velshi: American Capitalism Exploits the Poor to Enrich the Wealthy | MSNBC

MSNBC’s Ali Velshi explains how America’s economic systems favor the rich, especially during recessions.»

The End of Big Tech? Calls Grow to Break Up Facebook, Amazon for "Mob-Like" Behavior, Monopoly Power

How Mitch McConnell's Republicans Are Destroying America | Robert Reich

Former Secretary of Labor Robert Reich exposes the shameful priorities of Mitch McConnell and Senate Republicans during the coronavirus crisis.

GOP senators are refusing to extend expanded unemployment benefits, proposing instead to cut them down by $400 a week out of concern for the national debt. But the debt didn't seem to matter to them when they passed a $1.9 trillion tax cut for the wealthy and corporations in 2017.

That's just the beginning of the GOP's handouts for the super-rich and big corporations. As soon as the pandemic hit, McConnell and Senate Republicans were quick to give mega-corporations a $500 billion blank check, while only sending Americans a paltry $1,200 check.

And as the virus surged and the economy cratered, McConnell called the Senate back into session only to confirm more of Trump’s extremist judges and advance a $740 billion defense spending bill. Throughout it all, McConnell has insisted his priority is to shield businesses from COVID-related lawsuits by customers and employees who have contracted the virus.

Time and again, they’ve shown that they only care about their wealthy donors and corporate backers. If they had an ounce of concern for the nation, their priority would be to shield Americans from the ravages of COVID and American democracy from the ravages of Trump. But we know where their priorities lie.

Prof. Wolff: Is This the Eve of Destruction?

Paul Krugman on the State of the US Economy | Amanpour and Company

In his latest column for the New York Times, Nobel Prize-winning economist Paul Krugman writes that the disaster unfolding in America "is what happens when you put a horrible boss in charge of running the country, and nobody can say when, if ever, the damage will be repaired."

America Is at a Breaking Point | Reich at Home

Former Secretary of Labor Robert Reich connects the dots on COVID-19, the tanking economy, and Trump’s deadly mix of lies, authoritarianism, and incompetence.

Velshi: The Gap between America’s Richest and Poorest Has Only Grown During the Pandemic | MSNBC

MSNBC’s Ali Velshi explains how recessions enrich the wealthiest while driving working class Americans into poverty.

Wealthy Homeowners Are ‘Bargain-Hunting’ As Millions Face Eviction | MSNBC

Washington Post economics correspondent Heather Long describes the “unprecedented” housing inequality in America, including an estimated 12 million evictions over the next few months.