What's Next For The U.S. Economy: Robert Reich

Caviar Socialists like him (that sold out) , were in power for 20+ years and. did little:: they let most jobs go to China..they never tackled the Federal Reserve::the real problem that causes all but a few to become Feudalized Debt Slaves..it is no longer sustainable..stop putting Paint on a broken System that needs to be scrapped wholesale..get rid of the Federal Reserve..facebook.com/Warlock1110/videos/3542064922492176

Globalism emphasis was on country to country agreement and that is ok. Now globalism is a game led by corporations. I would like to hear Mr. Reichs comments on corporations impact on short and long term globalization.

Unbelievable results!! This has been an incredible experience from day one with mr Charles @Charles_forex09 at InSTA.. This wasn't my first time trading but honestly I didn’t know what to expect when I first joined. After much loss. God walked me through the entire process from start to finish, which was a HUGE plus! They made the entire process so easy and hassle-free! I’m very impressed! Go to him @Charles_forex09 at IG I will definitely be referring him to you all.🥰🥰

1.) Disagree: ‘’The might of the sectors in competition with the U.S... but we’ll deal with that when we have to’’ - you mean state sponsored incentives to ruin market economics and give unfair advantages to Chinese firms? CCP ideology is in fundamental opposition to the West. This is a global security concern. CCP can not be trusted with the power that comes with largest economy. It should have been dealt with by keeping communism out of the WTO, because corporations can’t compete with countries on unfair playing fields. Leave action any longer and you’ll continue to see more militarisation, more coercion, international law breaking, human rights abuse, bullying, propaganda, and Maoist styled 1939 Nazi CCP, not less. The West is so uneducated about China and do not comprehend the extent to which the CCP can’t be trusted. Regarding Trumps legacy; I don’t like the way Trump is a compulsive liar, but standing up to China will be his legacy, the first President since Truman and Eisenhower to do so.
2) Disagree: ‘’we need immigration to counter an ageing population’’ - immigration keeps productivity low by reducing the incentive to invest in fixed capital to replace labour, he uses an example of construction. However; for instance, investment in alternative construction techniques would be subject to innovation-push in absence of abundant labour, thus increasing productivity and boosting wealth.
3) The rest I generally agreed with, but the points raised above are huge points of contention I have with his opinions.

Interview Peter Schiff!
Besides Austrians, there are no economists.
Borrowing, low interest rates and consuming does not grow the economy.
Production, savings, high interest rates, and investment does!
The service/retail sector is a byproduct of the production/export sector.
The public sector is ONLY a parasite!!!
A burden we must bear.
Theft and redistribution at the point of a gun does not grow the economy.
Printing currency does not grow the economy.
The government can do absolutely nothing but steal through taxation or inflation.
This guy is completely delusional and disconnected from economics.
Macro or micro, both!
Turn to the Mises Institute. Don't bother with these keynesian CLOWNS!

USA owes every household $14,000, for taking our income from March to now September. Teach people to work online, and have recorded films to teach students at home on all subjects, and pay people $2K per month.
Deal with all the murders by sending rapists, murderers, and traitors to Siberia one way. America is not safe for anyone.
krplus.net/bidio/aNBtnHWDiW2ziGU
Let go and let God always. No one can ride your back, unless you bend over. BEHAVE FOLKS or else...

@@acajudi100 The US does not own Siberia, so it cannot send its problems there. Russia would never accept the dregs of American society like that.

Your facts are mixed up

Racist Democrat Woodrow Wilson gave us our socialist central bank.
The Federal Reserve encourages risky debt with artificially low interest rates leading to bailouts.
Socialism always backfires.

@@DavidAdkins78 current republican is facism in disguise

there are tons of economist who say it did not work and it stil some people always go back to this ?!
'Insanity Is Doing the Same Thing Over and Over Again and Expecting Different Results' albert einstein

Not when Boeing and GE makes bank.

Trickle down economics is like hiring a pedo to babysit your children. What could possibly go wrong? It's not like the rich already steal from the poor.
Why should I trust you?
Just trust me bro.

@Hello Michael how are you doing?

I'm sorry. I hope you get to feeling better soon.

God doesnt like u

Change your diet.

Already did that a few times. Last two times we called it world war one and world war two.

i think there is hope if we all do the work.

@@Nick-wl2xq Ladies and Gentlemen, I think we found our Katniss Everdeen. To the Mockingjay! Haha
That's a compliment btw. But you're right, we just have to do the work. It's not difficult either. If everyone agreed to live by and never break 5 certain rules this World might be a better place.

yes the smiley lady is creepy

america has a huge bias against social stuff because of the cold war legacy

Speaking of which, Uncle Sam is living out waning days in twilight zone with ever growing mountain of debt ($27 Trillions), mighty deficit, costly wars in Iraq/Afghanistan ($10 Trillions), ever widening gap between the richest One Percent and the rest, disharmony between the Rich and the Poor, etc.
Web site with 4 million views says it all at, blog.chinadaily.com.cn/forum.php?mod=viewthread&tid=1795128

Andrew Yang predicted this. I wish we had Bernie sanders with Yang as VP.

Lol. Thought I was the only one 😂

Also not sure about the stock video.

Yeah... why did she do that?

Yea zero reason for that.. Also only works if the audio lines up seamlessly too

You need to think better. If you give them the money what would they do with it? Would they most likely save it or when they spend it there for keeping other people employed? If everyone has limited capacity to spend your economy crashes but many have the amounts needed to make purchases that keeps jobs going and tax revenues flowing in to the local governments therefore it is very beneficial. You got to think outside your own bias and learn how the system works

@@teebone2157 Paying someone for not working is not efficient for the economy. What about that don't you understand? No one should be given free money for not doing anything. What is your problem with someone receiving a universal income, but being required to perform a task that is beneficial to society? The person has disposable income to spend AND performs a task that is beneficial to society. It is you that needs to learn basic economic efficiency theory. Or maybe you're incapable of getting beyond your fundamental karl marx training

Don’t digress get to the point

@@waltervila33 And whats your point...

Chris Jamel my point exactly

Disagree. US does have the harshest capitalism. I live in a social democractic (soft) capitalistic country and have lived in the US on both the East and West coast, and United States has the biggest inequality and wealth gap. Dog eat dog country. No social safety net in terms of healthcare, higher education, minimum wage protection, childcare or housing. Those fundamental benefits are the backbone of many first world socialist democractic countries. The fact Trump gave big corporations and the uber rich the biggest tax cuts in history should tell you how much of a plutocracy US is becoming.

Z. Deutch agreed he’s telling the truth EU #1 US Third world country

Yeah, China is a problem for sure.

Absolutely. China isn't waiting!

I think that it's more like rather than focusing on outside problem, US should settle the problem from the inside first

@@Nobody-jp7lm We (the USA) opened up with China. Now China is acting like they don't want to be friendly anymore. China should go back to being friendly again.

can just throw a nuke or 2

@Hello William how are you doing?

UBI is for high school dropouts

You mean socialism

UBI is for dumb high-school dropouts. Conditional UBI is for full-time hard-working Americans like first-responders, hazard-zone occupations, law-enforcement, etc. Not the ass-sitting ninnies getting rich from government taxes and laws.

The Monocle I’m not asking for UBI am I? I’m saying that any type of UBI suggested should be constrained to benefit full-time essential workers to even be worth considering. I’m not in those fields nor am I biased for it.

The next big business boom is going to be renting homes to the working class that will no longer be able to purchase homes. After the housing crisis the rich gobbled up a lot of the housing that was foreclosed on, they are doing the same now.

@@danielnutter2655 Yes, but without decent jobs, nobody will be renting either

His philosophy suggests he thinks we're still in the 1990s. Probably because he's rich and so are all of his old friends, still talking about the same crap they discussed two decades ago. A number of the things he mentions are reckless, stemming from the decades-old guilt-driven liberal concept of globalism. China's not going to 'take care of us' the way we supported some other nations in our hey-day. (1.) One reckless argument he makes is that we should 'kick the can' on national security issues surrounding certain enterprises within China's economy. (2.) Another is "not worrying" about the National Debt... who buys our debt?... China. They recently threatened to unload significant holdings of the US dollar in retaliation for some policy, which would cause imports to be very expensive... and we import everything. (3.) Which brings up reckless argument number 3, which is that it would be some kind of economic catastrophe if we made things in the US (I'm not saying make everything, but we need to be doing more than making viral videos and trying to not work for a living). The fact that we rely so heavily on imports is what gives China's holdings of our debt so much power over us. (4.) Reckless statement number 4... that we need basic income distributions. This may reduce the incentive to work and lower productivity. ***All four of these 'policies' work together to put us in a very wrong direction. ***In summary, we can easily become the international equivalent of a penny stock, especially considering cultural deterioration and an aversion to work.

Raise taxes 10%? Cut military spending 50%? No more foreign aid? If this is done, your way is feasible. I am for raise taxes 10%. Cut social safety net 20%. Cut medicare 50%. No retiring at 65, if possible. Cut conventional military (mothball) 50% if possible. Invest the army money into cyber, and increase massively foreign aid. This until debt is payed.

Pancake... Sounds good, but dont forget our debt today is more then all of USs gross domestic product produced.
We can barely pay the interest on the damage we have already barrowed.

@@noneshere You are right. Its very bad. So 15% tax, same social welfare cuts, and medicine, but not to pay the debt. Use it for, yours and mine favorite, ubi, but to extend it to everyone who are unemployed, until they get jobs. Screw the debt. When economy recovers, if there is no increase in foreign aggression, decrease the the austerity measures by half, and focus on cheap renewable energy and other research for costs reduction, until debt is payed. Maybe?

Pancakes.....or US loses a World War and its dollar debt no longer exist is the direction they seem to be going.
China already has a bigger navy then US, and the money to build more infrastructure.

@@noneshere 100% correct. Its a huge gamble. I gamble if we focus the remaining 50% military budget, on cyber, and keeping up with chinese in space, air, and navy, their aggressive tendencies would be kept in check. Of course other aggressive nations will have free hand. Thats my gamble.

But where does the money come from? The Fed prints this money driving up prices as there are more currency chasing fewer goods and services. If universal basic income works, why haven't governments all around the world adopt this policy decades earlier? That's because nothing is ever "free" and this policy does not work. If you give people money, nothing will be produced. Why work if the government is paying you to stay home?

UBI should cover the most basic need. UBI may hypotetically work when automation of production is perhaps in an advanced stage. If its not tested, you can't really say it doesn't work.

Davis Ureña Money printing and welfare has been proven not to work. Just look at Zimbabwe, Weimar Germany and Venezuela. The Roman Empire, a civilization that lasted for 2000 years, money printed and the result will always be in an eventual hyperinflation. People has to make stuff for stuff to exist. If people are at home collecting free printed money, who’s going to make stuff anymore. For example, if bees don’t pollinate or collect honey, there is no honey. The UBI is quite generous too. Relying on the government is never a good thing.

@@CV-nn7jj never mentioned in my post that UBI comes from printing.

@@Davisurena Enlighten me, where does the UBI come from then? Our tax receipts by the government is at a deficit. The government has no money. The only two way for the government to get more money is to increase your taxes or money print. I'm surprised you dont know this.

@Frank P. He's saying there are no captions available on their videos, people that have issues with their hearing use the closed captions to help understand

I believe that The over night plunge of bitcoin will kick start a long accountant phase similarly to early 2019

I strongly believe BTC would recoup it's looses and continue to gain

People fail to understand that bitcoin trading can be a lucrative way of making money of the Internet

You are right but belive me a successful trade is determined by the brokers ability to trade and your willingless to invest what can yeild good profit on trade

Traders never get rich until they invest

krplus.net/bidio/nt6IoXR1n5DRqHo

Depends on who you ask. With Andrew Yang’s plan, it would be value added tax. (We are making companies money when we watch more KRplus, social media, tv, etc.) His pre-pandemic plan was more of a solution to automation hurting job creation. But I can’t predict what the system would look like next century. Think it’s something that could evolve

There’s been attempts in some municipalities to get public internet. It saves money for the people, but the private lobbyists fight tooth & nail.
I would be unopposed to inserting a public option into just about any industry where the private sector fails us, underserves or overcharges.

Ok White Evangelist! You are the real problem in America ( I am white but not Evangelical) They do not follow the teaching of Christ.

Kick Trump out, he’s defeated

God sees all!!! You are a moron that believes all those faux news attack ads that take everything out of context. Go read a book.

Why worry? Nobody call that loan, US is the lender and also the borrower.

Yeah, eventually those debts get called and we turn into Greece who only knew how to spend, spend, spend and never saved... we ours will be worse.

Emergency UBI.

Free stuff for everyone - what could go wrong? Where is the concern for the national debt? Print more fiat money. We are printing money not produced by goods or services - just inflates the coming collapse.

Haha the government hasn’t shown to be very efficient

How much did you get paid to draw attention to it in the comments as I certainly went back to look for it?

@@thefreshestprince89 Haha I wish... I troll recreationally. This is effective marketing! Certainly worked on me... I guess they know their audience (smh)

@@benjaminhambright Don't bother! Le Creuset really cheaped out on the quality of their mugs, teapots and French Presses. The finish is sublime, but the material chips off easily. It's best to buy Le Creuset's O.G. product: the dutch oven

@@user-xg6zz8qs3q I was suspicious that a ceramic product did not have an actual glazed finish but enamel, which is a good finish on iron, not so much on ceramics. Also, it looks like their iron products are made in France , but the ceramics are made in Thailand, which is kinda misleading given the price premium for a "French" product. Merci beaucoup for the heads up, will not be purchasing the mug. Glaze that thing and I will reconsider.

@@benjaminhambright TBF I was harsh on the product. It's a good mug. It just won't last very long if you're not careful. It's up to you if you wanna spend $15 on a pretty mug or not.

The Monocle only people who come from socialism truly know what socialism does

Sounds good, but what happens when the rich leave? What about the $27 trillion in US debt? All the taxes drive out investment. Cut government first before more government destroys us.

@@trippbabbitt7960 bingo. If you force the rich out they will take their money. Then what’s left? Read atlas shrugged to find out

but this was a video that restored my faith in humanity.

Yang couldn't have gotten it to pass. It sucks, but the congress and senate would both have to be on board since congress also has to figure out the legal nuts and bolts on how it would work and be funded.
A president is really a paper tiger when it comes to meaningful policy changes in america.

@@colinmartin9797 cant argue with that when you say everything's hopeless.

Keep wishing and Focus on your own country’s crap policies.

@@user-hf2dr7sh4y Why? Im an economics student. The US is a great case study! Never ceases to amaze me.

@The Monocle I don't see how that's related. Please enlighten me...much appreciated.

@The Monocle What does that have to do with Andrew Yang?

Great insight. How do you feel about inflation though ? Other than that I really like your thinking .

Check out 3D printing and you’ll see even a lot of construction work will eventually be taken over by automation. Some workers will always be needed but many less than usual

automation and machines and general have a good intent of making life easier, but it is turning ugly because of the for profit intent. There is nothing wrong with wanting profits, but greed knows no boundary.

The Mind of Louis Inflation will happen regardless. Plus the government outspends their own budget by trillions. Might as well actually help Americans.

TL I agree 3D printing will change many industries soon. Whoever makes an efficient 3D printer that can print complex items will be the next Jeff Bezos.

No

Yeah except for that the lower k part actually has people attached to it.

Boomers doing what’s good for younger generations? Unlikely.

Whats next?
People lean to be homeless primitive drifting nomads because responsibility is not taking too much of it on in the 1st place.

An Elderly trying to go back to work because social security is not enough the housing is costing way to much an the government wont stop them people need to make more 600 was a good effect plus what unemployment was the best thing happening an to cut it in half is just crazy.

Space

How easy is that ? Boomers probably lost 401k and investments in last crash

in earlier times the 1% used the US Army to machine gun strikers and their families in the 1890s, and to roll tanks through makeshift housing in the 1930s in major US cities. So that the 1% could keep their money, and let the poor die and reduce the surplus population.

because of math

He's for sure whacking it to the hottie on the other end

your have a very sick mind. LOL

Chances are. But we can't sure.

@@craigcothren It's more about convenience and comfort. Could be wearing shorts nothing sick about that unless they're dope shorts

It's crooks in Congress so why do people keep re-electing them? or don't vote at all?

@@65minimom Government gets bigger because when crisis occurs, the government says it needs to be bigger to tackle the crisis temporarily.
The crisis goes but the power stays so each time you end up with bigger government.
To make government smaller, we have to vote for libertarian candidates. The trouble is that people have been convinced that a bigger government is what is needed to tackle these problems.

Trotsky's son. Great

Bad theory and will lead us to an implosion.

Those people usually don't make enough to own a house, so probably not.

As much as I agree with improvement of oneself; we also can't sustain the idea that its every man for himself. We have the worlds largest economy and yet have some of the worst statistics such as education, health care and treatment workers. We also have millions of people living below the poverty line and kids who don't even have enough money to eat. While I don't agree with giving people unlimited "hand" outs we do need to be changing the way we perceive production. Working 40 hour work weeks doesn't mean your productive it just means you put in a "normal" work week. Conscious capitalism is the way forward where companies pay their workers fair wages, care about their communities and also spend time to be environmentally friendly. Just think if people had the most basic needs met, of course while being a contribution to society, crime rates would fall significantly. No one regardless of job tittle should have to live in poverty while others live in extreme wealth. I am not in favor of wealth transfer but our idea of every many for himself has clearly been a poor idea and because of it we continue to see increased crime rates, less educated individuals and a division of beliefs that continue to grow. Business as usual won't work anymore we need to learn from our mistakes not try and recreate the past.

Through Reflection you are diluted! People are driven by self interest. While it is ugly it is human nature. This will never change. That fact is why Socialism/Communism is the utter failure it has been proven to be in history. If humans were more like Bees or Ants socialism would be the logical and best economic system. This simply is not the case. Mankind is hardwired for profit. This fact can be forced to be imposed on people for a short time but will fail eventually. The Soviet Union tried and for 70 years they did nothing but fail. Capitalism is just a natural Extension of human nature. It incentivizes innovation and hard work. As far as your point on crime rates. So what your saying is either we pay these Thugs or they will do violence to get what they demand? Well screw that! Extortion is not something that should be rewarded! If you break our laws you will be sent to prison for a long time! Law enforcement should be Extreme! Your way is to say that Society give in to Thugs! I say do away with the Thugs! Problem solved!

I'd like to know what the government has done with ELON MUSK's 11 BILLION DOLLARS he paid in taxes !!! This is NOT EUROPE !! THIS is the UNITED STATES of AMERICA .... guys like , BEZOS etc. SHOULD BE ASHAMED OF THEMSELVED for not giving back to the PEOPLE of the UNITED STATES of AMERICA by at least paying LIVING WAGES to their employees !!!!

How is a top economist distinguished from an average economist other than by association to famous people?

With UBI we can have the robots do the work for us, so we get are money and don't work

Thank you. I will

Hey, Max Audi the documentary title is Inequality For All. I highly recommend it, too!