Economic Update: The Emerging New World Economy

[S13 E17] The Emerging New World Economy: A New Empire, a Multipolar World, or a Post-Capitalist System

Four key changes drive a new world economy emerging from the old. First is capitalism's transition from neoliberal, globalizing to nationalistic capitalism. This includes the shift of capitalism's center from western Europe and the US to Asia and the global south and also includes the deepening economic inequality inside most nations. Second is the end of the stale, old debate between private and state capitalism (misnamed as capitalism vs socialism) in favor of private + state capitalism hybrids. Third is the post-peak decline of the US empire. Fourth is the urgent question of what comes next: a new empire, a multipolar world, or a new post-capitalist system that replaces employer-employee workplace organizations (private and public) with democratically run worker cooperative organizations.

Timestamps
00:00 - 01:42 - Intro
01:43 - 08:57 - capitalism's transition from neoliberal, globalizing to nationalistic capitalism
08:58 - 14:24 - private and state capitalism (misnamed as capitalism vs socialism) in favor of private + state capitalism hybrids
14:25- 15:47 - Announcements
15:48 - 20:18 - post-peak decline of the US empire.
20:19 - 30:20 - what comes next: a new empire, a multipolar world, or a new post-capitalist system that replaces employer-employee workplace organizations (private and public) with democratically run worker cooperative organizations

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“Marxism always was the critical shadow of capitalism. Their interactions changed them both. Now Marxism is once again stepping into the light as capitalism shakes from its own excesses and confronts decline.”

[DonaldMark-nese]

Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.

[Hannahbenowitz]

Every week I buy more of whatever is the lowest percentage of my portfolio and try to keep everything around 10%. Please what could be my safest buys with $400k to outperform the market in 2024?

[nicolasbenson]

Some group of economists have projected that both the U.S and parts of Europe could slip into a recession for a portion of 2023. A global recession, define as a contraction in annual global per capita income, is more rare because china and emerging markets often grow faster than more developed economies. Essentially the world economy is considered to be in recession if economic growth falls behind population growth.

[BillAdamson-bpff]

The US economy is grappling with uncertainties, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[Nernst]

The media is currently barraged with a lot of economic data right now. It takes a lot to see beyond the whole ocean of news on focus on what is important, which is that no matter how low stocks go, they always bounce back. I really ignore all the news and keep investing. I recently allocated about $121k to put in the market as we anticipate a crash. Any recommendations?

[jessicasam]

The truth is that everybody wants to be financially independent and live a better life.
With savvy investing, an inexpensive lifestyle, and diligent budgeting, this is not difficult to do. I'm glad I realized early on that achieving financial freedom requires hard work.

[gingerkilkus]

My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in US.

[SofiaAnsari-wbgn]

At the very least, I now grasp the concept of leverage.
Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely.

[kortyEdna]

As an elder millennial, one of the few advantages is having lived through the Great Recession. My advice. Reduce unnecessary expenses, increase your savings by investing in financial markets and do not sell. One thing I know for sure is that diversifying your income can help insulate you from much of the craziness going on in the world.

[henryalexander]

With the current economic situation, it's hard to ignore the possibility of a recession looming on the horizon. I'm genuinely concerned about how it will impact people's finances.

[velayuthman]

The best way to describe the present economy is 08' 2.0. Yes stocks are at a discount and things will eventually get better but my monthly living expense is up $37500 from $16000 and I'm left wondering what retirement have in store for me 5years down the line, I'm ill-prepared tbh, my 401k worth about $320k gains are zero-nothing and my stock portfolio?...OH WELL!

[wtzfekk]

A bear and bull market provides equal high-yield potential, it's all about early information and right strategy, Buffet is proof people make millions amidst crash. Unequivocally, today's recession/inflation is getting somebody somewhere rich. I'm at a crossroads deciding if to liquidate 370k stock portfolio currently down by 15%, it's uneasy for me to not panic, after recent awful divorce. I just need creative ideas to afford my retirement.

[HodgeChris]

I would say TAKE ADVANTAGE OF THE RECISSION! Recessions are an unavoidable part of the economic cycle; all you can do is prepare for them and plan accordingly. I graduated into a slump (2009). My first job after graduating from college was as an aerial acrobat on cruise ships. Today, I work as a VP for a global corporation, own three rental properties, invest in stocks and businesses, run my own company, and have increased my net worth by $500k in the last four years.

[kelvinjohnson]

According to certain economists, there are projections indicating the possibility of the United States and certain parts of Europe experiencing a recession during a portion of 2023. While a global recession, which refers to a decline in annual global per capita income, is relatively uncommon due to the faster growth rates of China and emerging markets compared to developed economies, it is important to note that if economic growth lags behind population growth, the world economy is generally regarded as being in a recession.

[oliviaralston]

You work for 40yrs to have $1M in your
retirement, meanwhile some people are putting just $10K in a meme coin from just few months ago and now they are multimillionaires., .., ., .

[Riggsnic_co]

I'm not kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.

[toneyj.alejandre]

We work for years to earn $1million on our retirement, while some people put thousands of dollars in some meme coins and they become millionaires.

[olgageorgsen]

With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly—which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stock portfolio

[adamkoke]

Nice video as always but here is my problem I have been making losses trying to make profit trading. I thought trading demo account is just like trading the real market... can anyone help me out or at least advise me on what to do

[Blabberone]

As is usual the Professor has laid it out concisely. Where we are coming from and where we are going. Very nicely explained without pomp or pageantry that often academics who don't have the skills that this great man utilizes to be ignored and not heard. Well done Professor.