Perhaps we should open our eyes and think about other options, options that actually work.

This program is made possible by the members and donors to the show to support the work we do for

as little as a buck a month or to sign up as a member and get commercial free versions of every

episode plus members only bonus content. Find us at patreon.com slash best of left or visit

the contribute tab at bestofalf.com and now welcome to this episode of the award-winning

best of left podcast in which we shall respond to the recent Trump administration budget proposal

with some economic theories of our own including what really built the American middle class,

what makes Scandinavian countries so happy and prosperous, why universal social safety that

programs are so superior to means-tested ones, and lastly stick around to the end to hear the

origin story of the republican strategy to always run up the national debt and deficit

themselves while in power and then complain about it while not in power. Our clips today come

from economic update with Professor Richard Wolff, the nation magazine, the young Turks, the majority

report and the townhurtland program. We are now living through the second worst collapse of

capitalism in its history. The greatest collapse was still the 1930s. We have not surpassed that,

although we yet may, so that 2008 to today is the second worst after the Great Depression.

But something is very, very different in how Americans reacted to the 29 crash and how they

have reacted to the 2008 crash. I want to talk about that difference. I want to explain it to you

and I'd like to tease out of it the very important lesson of why they're different

and what we can learn from that difference. So let's start with 1929 and the 1930s, what we now

call the Great Depression. Everything collapsed. We'd had a period of growth after World War I was over.

We called this rapid economic growth of America the roaring 20s and it was an exciting time of

economic growth. But it was also a time when capitalists made risky investments which it turned out

...