Frightening Housing & Stock Markets - Global Capitalism with Richard Wolff

Prof Wolff takes a look at the bubbles in today's housing & stock markets, and the dangers that are already coming home to roost from U.S. policies and speculation.

"Either the housing market or the stock market with crashes will have extraordinary fallout effect across the system. Not just the United States but globally. The notion that the economy of the United States is strong, which is what our leaders tell us, is recovering from the crash and pandemic of 2020 and 2021? This is one of the great examples of wishful thinking that I can think of in world history." - Richard Wolff

This is a clip from the May 2022 Global Capitalism Lecture: Marxism: From Critique of Capitalism to Alternative System
Or listen to it as a podcast on your favorite podcast player!

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Stuck Nation: Can the United States Change Course on Our History of Choosing Profits Over People?

“Hennelly brilliantly analyzes our capitalist crises and how individuals cope with them, tragically but often heroically. He helps us draw inspiration and realistic hope from how courageous Americans are facing and fixing a stuck nation.”
- Richard D. Wolff

[TheFreedomBay]

These shorts are great. It must be taxing to keep repeating these basic points, but now I think many more are ripe to listen.
Thank you Professor Wolff & co!

[ziziroberts]

I sold my home at the height of the last bubble in late 2006. I am so glad I didn't buy another home. I would have been completely bankrupt. Bad enough that my TRS mutual funds never recovered. The biggest warning was when we stopped earning interest at the bank. This bubble is filled with the sour remains of unfettered Capitalism.

[danielhutchinson]

Thank You Professor, for helping to contribute to our continuing

[petersepall]

We have created a system that rewards narcissism and dishonesty and must now reap what we have sown.

[CMDMedia]

You're delivery on this type of content is fantastic!!

[gerry]

Plenty of money for wars. Disgraceful.

[jackgreene]

Thank you so much for these videos! How should everyday Americans be protecting themselves against inflation/preparing for the bursting of the bubble?

[cageybee]

i'm not afraid, i'm ecstatic. i might actually be able to afford my own home soon if the FED doesn't prop up the price.

[georgesais]

Thank you sir, and I thought I was alone here in Australia in thinking the same. I think that Biden's sanctions have something to do with both volatile situations. I am 69 and we are in the last week of a federal election. Yes, the question of 'cost of living' is brought up, but there is no word from economists about the situation and about our dollar going down.

[neomonkey]

My question is, when exactly will housing turn around? Because even with higher rates, the prices of homes are still going up.

[chamberofprogress]

Market Speculation is extremely predatory and unnecessary for true economic prosperity. If anything, such a practice is severely detrimental to to general wellbeing of the people in the real economy.

[ml]

I wonder how long and how deep Prof. Wolff thinks this is going to go.

[pedrocavalcante]

For many years we were made to believe that food shortages were things that only happened under socialism, and that capitalism was superior in providing plenty and plenty of food.

[mischevious]

California’s housing crisis has been going on for decades. Thousands already living in hotel rooms and or their cars, more buying RVs and living in parks.

Covid put those people completely on the streets in early 2020. And the rising cost of housing has been causing a new explosion of homelessness for the full time employed ever since.

If a landlord wants you out, your out no matter how many laws are in place to protect you.
Just ask me.

[SandhillCrane]

Everybody hates the truth. Keep on telling the truth!

[OmarOttoman]

We are most likely in the most volatile point in the history of capitalism in economic and also in political terms. The staggering gap between the narrative of the political class and reality is alone an indicator of an imminent collapse. It’s like the mental coping mechanism of some who knows they are dying. The world economy is standing at a tip of a mountain. We are only waiting for some wind.

[ewalker]

Sounds like conditions for the Great Depression. There's going to be a lot of empty apartments and mortgaged homes. Good the minimalist lifestyle is there.

[jamesmurphy]

Basically good bye labor movement
Good bye 15 dollars hour

[Tyler-]

People that already own their houses didn't have their mortgage payments go up, as I think this video suggests. Instead those homeowners got hundreds of thousands of dollars of equity. The price only went up for those of us that did not already own a home, or who bought one since the price increased.

[amjidalam]

Can we analyses on gas for rubles and why the eu is making a big fuss about it