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Bad Faith

Episode 321 - How Do We Pay For It?: War Edition (w/ Richard Wolff)

Bad Faith

Bad Faith

News, Comedy, Politics

4.52.8K Ratings

🗓️ 9 November 2023

⏱️ 69 minutes

🧾️ Download transcript

Summary

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After the siege of Gaza began Treasury Secretary Janet Yellen sought to assuage the public about America's investment in Israel: Don't worry, she said, we can afford two wars -- both the war in Ukraine and Israel's bombardment of Palestine. Brie asked Richard Wolff, Marxist economist, New School professor, and Janet Yellen's former classmate: Is she right? What about the inflationary effect of military spending? Do alternative ways to address inflation like a wage/price freeze undermine our labor goals? And what's next for the Cornel West campaign? We discuss it all on this week's free episode.

Subscribe to Bad Faith on YouTube for video of this episode. Find Bad Faith on Twitter (@badfaithpod) and Instagram (@badfaithpod).

Produced by Armand Aviram.

Theme by Nick Thorburn (@nickfromislands).

Transcript

Click on a timestamp to play from that location

0:00.0

In Israel, there are people called large numbers calling for Mr. Netanyahu to be removed from

0:05.7

office for the catastrophic mistake he's just made by his behavior.

0:11.8

Lots of people in high positions, major newspapers, and on and on.

0:17.1

That's the reality in Israel.

0:19.0

But here it is President in the United States.

0:21.4

People are demanding that folks lose their jobs, students be expelled from universities,

0:27.2

for taking a position that the people of Israel rightly are debating and discussing,

0:33.1

since their very lives depend on it.

0:35.3

We are in a very bizarre place here in the United States. It is my pleasure to have back on bad faith podcast, Professor Richard Wolfe,

1:16.6

Marxist economist, who you can also find at Democracy at Work. Info,

1:21.3

and on the weekly radio and TV news show, Economic Update.

1:25.9

Welcome back, Professor Wolf.

1:28.6

Thank you very much, Bion. I'm glad to be with you and having this conversation. So I've been wanted to talk to you for weeks

1:33.6

now ever since the events of October 7th, and we got a, I guess, assuaged our concerns, I guess,

1:40.8

the public's concerns about potentially funding two wars at the same time, both the war in

1:44.8

Ukraine and the siege on Gaza. Janet Yellen, who you have said on the show and elsewhere before,

1:52.4

was a classmate of yours actually, came out to a space of the public saying, we can afford to do

1:58.2

both. Paul Tudor Jones, the famed investor, was on CNBC this week and he said, this is the most

2:03.5

threatening and challenging geopolitical environment that I've ever seen.

2:07.2

At the same time, the U.S. is in its weakest fiscal position since World War II, with debt

2:12.3

to GDP at 122 percent.

2:15.1

Can America, can the West afford another war at this time? I think the answer is absolutely.

...

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