The collapse of Silicon Valley Bank, along with Signature Bank and Silvergate Bank,

has caused panic worldwide and drawn comparisons to the financial meltdown of the Great Recession.

The Federal Reserve has stepped in with a massive new fund to bail out the banking sector,

but remains committed to its policy of

interest rate hikes that lie at the heart, perhaps, of the SVB collapse. We'll talk about that.

Is the United States and global capitalism at the precipice of another all-out economic crisis.

We need a new system. We need a new society. We need to demand that which may have sounded

impossible even a few weeks ago, but is not only realizable, but an imperative necessity. We are excited to have Professor Richard Wolf join us again for our regular weekly segment,

where we discuss the biggest stories related to the economy, the state of the working class,

and the crimes of big business. I'm your host, Brian Becker.

The Socialist Program brings you content three days a week thanks to the support of our patrons

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forward slash the socialist program.

Richard Wolf is the co-founder of the organization Democracy at Work. He's the author of many books,

the latest being the sickness is the system when capitalism fails to save us from pandemics or

itself. You can check out all of his work at R-D-Wolf.com. That's R-D-W-O-L-F.com.

Professor Wolf, you have to be busy.

Capitalism may be collapsing once again, but welcome once again to the show.

Thank you, Brian.

Glad to be here.

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