This is the Tom Hartman Program.

And welcome back. On the line with us is our old buddy Professor Richard Wolf, the economist, co-founder of

of democracy at work author of numerous books including his most recent

understanding Marxism which we just added to our lineup of

Tom Harbin book Club teases or tastes or samples or whatever you want to call

it which will be up on YouTube in a day or so as well.

Professor Wolf, welcome back.

Thank you very much.

It is a flattering that you were reading from my work. I'm much obliged.

Oh, it's a damn good book. I wanted to talk to you about the Fed and I believe that Sean shared this

Axios Market's newsletter with you that I got where they're

going through and Dean I'm not sure how he pronounces in a Rablain or

whatever who does the newsletter goes through and points out that basically the Fed has

been just pouring cash into the markets and what we find increasingly is that

prior to the Trump era everybody thought that there was you know no

connection or no explicit connection between Fed activity and stock

markets although the fact that L. B. J. L. J. L. B. J. L. J.J lifted Fed Chair Miller up against the wall by his throat

and took on his tippy toes and yelled at him for raising interest rates just before an election,

I guess indicates that it's been a long-held

secret, but you know the average person didn't realize that the Fed actually could

swing markets and thus get presidents elected or not reelected.

But the Fed has been just pumping cash.

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