Fears of an all-out economic crisis are deepening as FedEx announces that it expects a global recession

based on a sharp decline in world shipping activity and a higher than expected inflation report

deepens the Federal Reserve's determination to raise interest rates. The capitalist class remains determined

to drive the economy off a cliff to eviscerate workers' living standards and bargaining power.

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 talk about 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.

This show, The Socialist Program, brings you content three days a week.

Thanks to the support of our patrons at patreon.com

forward slash the socialist program. We appreciate everyone's support and encourage you to become a

patron today if you enjoy or rely on this show. Richard Wolfe 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-F.com that's r d wOLFf.com professor wolf welcome back thank you brian glad to be here

professor wolf we're pre-recording this show by a few hours but it comes out at eight a m eastern time

wednesday september 21st another day where the Federal Reserve is meeting and all

expectations were and are that the tempo of interest rate hikes would continue. Many were predicting

that the interest rate hike would be 0.75%, not small.

Some were even predicting a higher interest rate.

...