Are we on the edge of another economic meltdown?

One hedge fund manager who makes his clients billions of dollars off of economic crashes

thinks that the current stock market looks a lot like the high right before the crash of the Great Depression in 1929.

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 Wolfe 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.

The Socialist Program brings you content several days a week. Thanks to the support of our patrons at patreon.com forward slash the socialist program. We appreciate all of your support and encourage

you if you're not yet to become a patron today.

Richard Wolfe is the co-founder of the organization Democracy at Work.

He's the author of many books, including Understanding Capitalism, which is available at

Democracy at Work.Info, Professor Wolfe, welcome back.

Thank you very much, Brian.

Glad to be here.

We talk every week about the big stories related to the economy.

Undoubtedly, our listeners know that we have spoken at times, and not a small number of times, about the possibility or the inevitability of an economic contraction in the capitalist system.

This article caught our eye, though. It came out in the Wall Street Journal. It came out this week.

Black Swan Manager sees huge rally and then a 1929-style crash.

Mark Spitznagle's hedge fund has earned bonanzas and market collapses.

Now, he's somebody for our audience, Richard, and you can explain this, he bets against

the stocks.

...