The Real Reason the Economy Might Collapse | Robert Reich

the deficient is destroying the economy. China has destroyed the economy. Saudi Aribia has destroyed the economy. Robert Reich plays the violet as Rome burns. bls . He wears a poor man uniform/costume and lies through his teeth. blah blah blah vote accordingly. have no illusion . enjoy the free things of life.

Add Elon Musk's picture.

I hope that Kamala Harris takes time to learn from you these important realities.

Did u know the USSR had no economy crises? You may have heard about the overproduction crisis. If not, then I recommend reading it. You’ll understand why.

That was a low blow insulting trump. You lost respect there

Gawd bless Murica 🤡 🖕

The negative effects of this cant be understood thru looking at a spreadsheet and thats the problem.

Take the gilded age for example.

On one hand you had GREAT economic GROWTH during this time! However you also had GREAT economic disparity and at its worst point the system then only had two classes of people. The poor and the vastly rich. This is WHY we have all the regulations we have in capitalism today. Something they are trying SO HARD to get rid of.

Also when you factor in how corruption works in America. How the rich lobby to get what they want. Then you look at the fifties and see how Nixon made our economy FIAT. THEN you can finally look at and understand how since that moment, the working classes buying power in correlation with what they produce has been hamstrung while the Rich have basically started dipping their fingers into the excess we produce and stuffing it in their own pockets. See before Nixon, our economy was in a better balance as far as what workers produced they would see their wealth grow along side it. Until it became Fiat.

Fiat currency is completely controlled by government and the central banks. Since the Rich control the government to an extent, and do what they do to push legislations in their favor. We have developed into a very top down power structure. The rich have all the leverage, and the working class have very little.

Also, since the Dollar IS Fiat... that means it has no tangible physical backing to it. Like gold or silver. Your dollars backing is basically a wink, crooked smile and a big ole thumbs up from our government. This system is BOUND to become corrupt, especially under capitalism which already pits the classes against each other naturally with conflicting interests. But the magic behind the fiat currency system is its highly manipulatable. Things can be artificially strained or over saturated to effect the value of that thing. Companies can basically do whatever they wants long as they work in tandem and create these artificial markets with their competitors. Nd since they got the government in their pockets, the government isn't going to always do its job in regulating this shit. Especially when it goes AGAINST the wishes of the people they take these massive donations from.

Its this simple man. Money is a LIE. Real value is in Tangible assets. If the dollar collapsed all of us without assets would be up shit creek. Assets such as a house, land, commercial property, etc. is what holds REAL value. Its basically STILL a barter system, just money being the extra step in the middle.

Of course it TAKES money to BUY assets BUT the paradox of this is, the Rich control more than we do! They use things like inflation to make sure the cost of living is just high enough that 99% of the people caught in the rat race of life chasing dollars will remain in that way of life for all their life. This is WHY housing is so expensive now. This is why everything's so expensive now. They spent a few generations getting people to trust the system, giving opportunity and allowing growth now we are seeing a transition where the rich are basically building a wall around the shit it takes to be like them. Nd their using things like inflation and manipulating their markets and flat out lies to manipulate the working class, get em working longer hours for less buying power. Their shuffling money from us into the pockets of like 10% of the population.

George Carlin described it best a long time ago. The American Dream is a lie. Its a BIG CLUB, and YOU aint in it! Its also the same big club they use to beat you over the head and tell you what to think and how to feel and what to believe and why. (News, Media, Social media trends)

Keep voting DUMB-O-CRAP and KEEP Watching your PAY CHECK get SMALLER and SMALLER!!!!

Hello my fellow slaves

What’s the point of a credit score if you can’t afford to buy anything with it.

Time to move to Europe

I don't agree at all on spending to keep the economy up. Every tons and tons of clothing we purchase goes to landfill coz we are buying too much clothing same with food we are throwing so much away. People should learn not to spend and only do so when they need it. Climate change is worse every year and making cotton consume a lot of water and dyes on the clothing is very toxic to the environment. Pls don't encourage people to aimless spend.

This guy is a communist. The reason why we are in bad shape is we haveva fiat currency and criminal organization called the Federal Reserve. Get rid of the Federal Reserve. Allow commodities to back money again.

Because the scales are tipped so far to one side that it might just collapse.

IF we cant buy grocerys will doom America

History just keeps repeating itself!

Don't have a lot of time, does he say ANYTHING accurate?

Cheap shot using Trump. How about a photo of Biden on the take with Soros?

"The American Empire is coming to an end, that is undeniable, but what may surprise many is that when it happens, it is not an accident and it will not be left to random chance." -- Jeff Berwick, "The Controlled Demolition of the American Empire", Amazon Kindle
"The financial alchemists at the Federal Reserve are really nothing more than coin debasers in nice suits, chipping away at the edges of their coins to try and take as much from the people before being exposed as the common criminals that they really are." -- Jeff Berwick, "The Controlled Demolition of the American Empire", Kindle Edition.

Just remember that Robert Reich is a hardline communist.

The ONLY reason our economy is collapsing is that the billionaires want to reduce us to the status of peasants.

The followers of Robert Reich should re-examine everything that he tells you. His understanding of capitalism is nonexistent, and his understanding of socialism is warped out of reason. There isn't room in this comments section to correct all of his misinformation. I only suggest that the commenters do a little research on their own so they understand how the economy actually works.

We know. That's why we are buying guns.

Greed is the root cause of all these.

Wow I wish you could go around and explain that to the MAGA lunatics!

Sick of this!!! Nothing will be done, yes another Great Depression has been kicked down the road, but history will repeat itself, this will happen again, and it is a prelude to another World War. It will happen.

No worry.. Demand is in India

Completely true. I have thought about this for years. Very well expressed.

Look at all the homeless in north america the fikin wealthy never share the wealth there will be no middle class only rich and poor

How about we don't focus so much on being a consultation oriented society? How about human values? The rich depend on us "consumption units" to feed their greed. Buying more and more shit we don't need and polluting the planet. Stop!!!!! Reevaluate!!!! Reorient your priorities!!! Stop voting for the cooperate candidates!!! Boycott. Take your business elsewhere.

"the government pumped in money..."

Taxpayer money. And who was making bank on all that Pandemic Money?

Rich people, corporations, congress members...

And the scams just keep on coming.

Sickening.

This guy does make 40,000$ a speech and makes more then the average ceo.

It’s caused by the federal reserve. Every time they get involved in the economy the wealth gap jumps. Poor people own nothing of value, and spend ever dollar they have. The middle class buys stupid stuff they don’t need. I was broke in debt, started saving small amounts as the federal reserve dropped the rates to 0, I invested everything I had because every person with financial education knows when the government pumps money in to the system it will cause inflation. Home prices and stocks go up but mostly they hold value against inflation. I’ve spent a few hundred dollars on cloths in the last 3 years every person I know spends that a month. All the people I know in poverty blow all the money they get. I love the way you always push that we should blame all our problems on rich people. Sounds like the far right blaming Mexicans.

There will be no substantive change until our system collapses under its own weight.

This is just another example of how malignant capitalism favors the rich and disenfranchises the middle class and lower class. We work we work and we work only to be the slaves of corporate America. Even Congress especially the GOP is manipulated by these capitalistic monsters thus failing to raise salaries to meet the needs of these people.

The rich are hoarding the billions of dollars. 😮😮😮😮😮😮

We have the neo robber barons today! Trickle up economy works

Thsnk you for posting this perspective. You make it easy for me to understand.

congress is allowing by not regulating corporations and pandering to lobbyist and special interest make health insurance non profit

why do these billionaires want more

Reich is lying. Again. Spending as percent of GDP.
States & local government about 20%
Feds 25%
Capital goods. 22%
Charities. 2%
Thats 69% right there. No way consumer spending could be 70%.
Reich is a con artist. He is not an economist. He got his job by being in Hillary Clinton's law class and she saw someone with no ethics that she could manipulate.

I've been there. My wife and i were in the payday loan hole for a while.

Truth to power Richard truth to power thanks for the great video

Right on Robert‼️ Keep hammering America ‼️

Shipping jobs off to china didnt help eithery

This inequality is rooted in the psychological need in some people to feel 'better' than others. The metric they use is not absolute wealth but relative wealth so they would prefer to have 1,000,000 when others have just 1,000 to having 10,000,000 with others having 100,000. Thus an economic collapse where their relative wealth increases suits them just fine.

They don't care about any of that. They all got villas in the south of France and when the economy finally collapses they're going to leave us all here in a lurch to fend for ourselves. It's our fault, because we sat around thinking that things were going to work themselves out while they always knew.🙄

Sir, Wall St, Hollywood, Silicon Valley, which are home to the biggest corps of US, actually are all indulged in leftist ideologies, so when you’re yelling at them, you’re yelling at your donors

No, closing the gap in income will spur overpopulation, growing consumption, and accelerated ecocide.
As an economist, Reich is very eloquent, but Kenedy's adviser rightfully categorized them together with idiots who are incapable to conceive the simple physics of [materially] closed systems and arithmetic of compound growth [of waste].
When professors are that stupid, civilization is doomed. Well, I've lived my life and Gretas' hysteria is in vain.

Maybe this explains the closing of stores of some big chains in the US.