Pandemic Economics 101
The Hartmann Report
Thom Hartmann
4.5 • 1.3K Ratings
🗓️ 20 March 2020
⏱️ 58 minutes
🧾️ Download transcript
Summary
Today Richard Wolff and other experts help Thom get a handle on where our economy might be heading as unemployment increases precipitously. The last few years the rich have used stock buybacks and other schemes to get richer, while the gig economy and poverty have increasingly been the experience for many at the other end of the pay scale- how will the Covid shutdown bring these problems to a head? And as the government gets a stimulus plan together, who should be the first in line?- the giant corporations or the little guys?
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Transcript
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| 0:00.0 | This is the Tom Hartman program. |
| 0:15.0 | So as the economy falls through the floor, let's check in with a real economist on this. |
| 0:22.0 | Professor Richard Wolf is on the line with us. |
| 0:24.7 | He is an economist, a professor of economics, |
| 0:27.0 | co-founder of Democracy at Work. |
| 0:29.1 | Democracy at Work. info is the website, |
| 0:31.4 | his personal website, |
| 0:32.4 | R.D. wolf with two f's dot com you can |
| 0:34.9 | treat him at proff wolf with two f's he's the author of numerous books his most |
| 0:39.1 | recent understanding socialism professor wolf welcome back to the program |
| 0:42.2 | thank you tom glad to be here Socialism. Professor Wolf, welcome back to the program. Thank you, Tom. |
| 0:43.4 | Glad to be here. |
| 0:45.0 | So I don't have a lot of very specific questions for you. |
| 0:48.0 | I would love to hear your thoughts on number one, what the Fed is doing in relation to our entire economic system, the |
| 0:57.3 | banking system and all this kind of thing. I mean we've seen we've been seeing |
| 1:00.6 | bonds behaving in ways they're not supposed to because people are |
| 1:03.5 | dumping them so frantically to cover margin calls and things like that and to what |
| 1:08.2 | extent might the Fed be able to ameliorate some of this and what should Congress be doing you know what or what are your |
| 1:15.1 | thoughts in general on all this well to be as blunt and yet to retain at least some |
| 1:21.7 | politeness. |
| 1:23.2 | Let me say that this is the most colossal failure |
| 1:28.2 | of a system that I have ever seen. |
... |
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