Professor Richard Wolff appears with Thom Hartmann on The Big Picture to discuss the recent wild volatility of the stock market and some of the ramifications.
Appeared originally in The Guardian on September 19th, 2011
Taking his cue from Warren Buffett, President Obama has announced a 'millionaire tax' as part of his budget plan; Republicans have denounced it as 'class war'. Photograph: Rick Wilking/Reuters
Pacifica's Mitch Jeserich hosts “Letters & Politics,” a look at burning political issues and debates, and their historical context, within the US and worldwide.
In the context of deepening economic decline, Richard Wolff analyzes and attempts to answer these questions:
What were the causes and the results of the recent political theater focused on raising the US debt ceiling? What does the "deal" between President Obama and the Republicans mean economically and politically? What are the alternatives that Congress never explored? What can and should now be done, economically and politically?
Appeared originally in The Guardian on August 22nd, 2011
In the US, as in the UK, public sector unions are facing cuts to their wages, pensions and benefits to pay for budget cuts. Photograph: Sang Tan/AP
Last week, Democratic governors in New York and Connecticut repeated the austerity politics of Greece's Prime Minister Pappandreou and Portugal's former Prime Minister Socrates. In doing so, they likewise imitated the austerity politics of their Republican and Democratic counterparts across virtually all 50 states.