Here’s another interesting discussion/analysis of the economic situation from the Real News. In this one, Paul Jay interviews Richard D. Wolff, Professor Emeritus of UMASS, Amherst to assess the approach President Obama’s administration is taking. Professor Wolff argues that declining production and the outsourcing of jobs, coupled with an increase in the numbers of people seeking jobs in the US, lead to wage stagnation, which he thinks has much to do with the economic crisis. In other words, the crisis reflects a basic systemic problem rather than simple, relatively recent, “mistakes” made by investors, banks, and home buyers. I think his point supports the argument that faith in unlimited economic growth is unrealistic and unjustified, and underlies the economic meltdown. In my view, unlimited economic growth is about as plausible as free energy, a perpetual motion machine, or the Fountain of Youth. It’s a hopeful myth. Moreover, I think overpopulation is the ultimate foundation of this economic conflagration, as well as many of our other problems — but that’s a topic for another post. What do you think?

37 Responses to “Richard Wolff on Obama’s Stimulus”

  1. gory blashimah says:

    George can you try to get some answers about the British MOD trading as the privately owned Swiss company, the International Bank of Settlements 🙂

  2. rioradegge says:

    dear hando, read a book & u’ll know occupy is there so bankers stop taxing ur wages. Enjoy working for the tax man x peace! X –

  3. CBS News and National Journal host Republican debate on Saturday night – CBS News

    CBS News and National Journal host Republican debate on Saturday night – CBS News
    Eight candidates looking to unseat President Obama will gather on stage at Wofford College Saturday night for a debate on national security and foreign policy hosted by CBS News and National Journal. The South Carolina, debate is chance for …

  4. Flight Dispatcher/Production Control – Lexington Park, MD –> Flight Dispatcher/Production Control Acts as point of contact (POC) for maintenance and flying activities; initiates and controls forms and records relative to maintenance/flying programs; monitors… Learn more here:

  5. People in the streets not working. Crime rising. The elite hiding underground. Endless conflicts with other countries. That does not look like control to me.

  6. bobellonia cham says:

    If your working at your not a skilled person and probably dont have an education. They are easy jobs any moron can do. These people are lucky to have a job at all and should thank for giving them a job period. You want a high paying job, get off welfare and get a college degree. The store managers at make damn good money, why ? They have an education or WORKED their way to the top. As long as there is a society, there will always be the jobs that someone has to fill.

  7. flyn laffording says:

    Hey Bob, Rod owes you one..Maggie May sounds mightily like your song buddy!! Especially the Graham Bonnet version. But hey both great songs.

  8. rady gutillar says:

    No planned economy from a central authority; can ever match the benefits of a social order premised upon the personal responsibility

  9. Standard & Poor’s puts debt of 15 eurozone members on notice for possible downgrade, citing rising risk of recession in 2012.

  10. waughmadin says:

    where is this footage i know 911 is a scam but seriously we got you tube news etc and technology where is the footage ?

  11. nyasinelli says:

    We are in need of Bi-Lingual Spanish / English speaking Sales Agents for our growing merchant supply business. We provide products and services to merchants nationwide & we are overwhelmed with leads! If you have a strong desire to Succeed along with Good Communication and Computer Skills, we want to meet with you! Hourly Wages & Commissions Paid! Great work environment in a state of the facility. We are conveniently located off the Florida Turnpike & Route 75 in Miramar. For immediate consideration please send a copy of your resume to schedule an interview & working tomorrow!

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  12. cle reinellett says:

    He says medical research but he continues to shut down medical marijuana. Quit reading off a teleprompter Obama and go hide in a drainage ditch so we can come and arrest u and show u what true justice looks like not killing in the belief of something that u think u r doing right.

  13. mugu mohey says:

    Another possible influence on world food prices , is the land use change from food production to ethanol production. A “clean biofuel” even Al
    Gore says is a mistake. World food/ biomass production is up approximately 45% conservatively. The real problem is that the production of food/biomass has been co-opted to serve the green economy and ” clean biofuels” production, that are apparently not so clean.

  14. hudello fuki says:

    Oh no, Gradenko sat in chair. Big mistake…

    By the way, in the game is pretty close to what he was like in real life. Paranoid to the extreme.

    When Stalin appeared to speak before the they would continue their applause and cheering for many minutes. Everyone was afraid to be the first to stop applauding. This could make you one suspicious. And suspicious people tended to “disappear”…

  15. hundal caliost says:

    wow thats funny. tthe first time I have actualy seen the main stream media make a fuss with Ron Paul.
    I guess they cencore him anymore

  16. I think there is a lot around the world who know that for a fact but they’re afraid to take action b/c of economic crisis:(

  17. couplaia durrink says:

    That is not funny. I have depression and anxiety. I am so upset. That is awful to do to someone.

  18. blun taka says:

    netbuzz writes “Akamai says that it will offer IPv6 services to its entire customer base beginning next month – a long-awaited move that is expected to be a major boon to the adoption rate of the next-generation Internet Protocol. Akamai hoped to release its production-grade IPv6 services by the end of 2011, but the task proved more difficult than originally anticipated. Akamai has been beta testing its IPv6 services with key customers since last fall.”

    Read more of this story at Slashdot.

  19. burgerfier says:

    agencies do not return anything to EU budget. It is as if they are living in parallel world, untouched by economic crisis. A police cont

  20. kozsgargne rauth says:

    Marketplace Africa is looking for folks moving back to Africa b/c of recession in the West. Have a story to share?

  21. saovan kar says:

    “It is not the employer who pays wages — he only handles the money.” It is the product that pays wages.” – Henry Ford

  22. Obama’s crossing the line having taxpayers pay for his campaign trips on Air Force 1. Outrageous! it’s enough taxpayers foot his vacations.

  23. yeah we feel bad but its out our hands we can’t fight everyone’s war we have an economic crisis sorry

  24. machaillo akakuman says:

    some chinese team called shanghai something :/ the one Anelka joined. Wages are like 200,000 a week! He can’t say no

  25. mas mes says:

    Economic crisis, climate crisis..How is it to spend $400+ bn p.a of taxpayers money in fossil fuels subsidies?Good Q to Rio

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  27. America was like the life of the back in the 80s good economy,gettin our dick sucked. Now we’re just the too drunk guy ruining the fun

  28. hussetheva says:

    About 80% of all cats are infected with Toxoplasma gondii, a parasite than can cause depression, anxiety, and schizophrenia in humans.

  29. Opening a business in a recession doesn’t mean you’re mad, it means you have more desire than most to succeed!! Xx

  30. Ed Balls, the shadow chancellor, has accused the Government of failing to come up with a ‘credible’ plan to tackle the economic crisis. He blamed Cameron and Osborne for the country’s plunge into double dip recession.

  31. The Prez offered $600B N spending cuts for $1.4 T in new taxes, thats opposite whats needed, no wonder stuck N rece …

  32. I HAD to belong to a union and HAD to give them $250 per month in dues for NOTHING.We voted out the union & my wag …

  33. jent zwieze says:

    Entrepreneurs: This is the time to disrupt a market. Those holding out for a better market conditions are bypassing the of a lifetime.

    Granted, two countervailing trends –- a slowly recovering national economy and a pull-back in later early-stage funding — are keeping things interesting for entrepreneurs. But at the same time, stubborn recession conditions like cheap office space and tech trends like cloud computing temper the need for big piles of outside money to get new companies off the ground.

    This infographic comes from Bob Rizika, CEO of cloud computing, Infrastructure-as-a Service (IaaS) firm ProfitBricks USA, who obviously hopes lean see an advantage in operating in the cloud. The key points are that creating a now is cheaper than ever before, there are new sources of funding available, and the lingering economic issues can reduce competition:

  34. Half of the US’s total assets are now owned by just 400 people (400!) From review of the film for all’ …

  35. Sweeping tax changes will also cut power of state-owned firms and narrow gap between urban elite and rural poor China has unveiled sweeping tax reforms to make wealthy state-owned firms, speculators and the rich pay more to narrow the gap between the urban elite and hundreds of millions of rural poor. The plans approved by the state council – China’s cabinet – also included commitments to push forward market-oriented interest rate reforms to give savers a better return and more security. Chief among the reforms is a requirement to raise the percentage of profits contributed by state-owned firms to the government by about five percentage points by 2015. Together with measures to raise wages and improve households’ return on assets, the reforms signal an attempt to shift economic growth towards increased consumption and away from reliance on investment spending. One key change will make interest rates more flexible. Interest rates on savings deposits have lagged inflation for…

  36. Download here Deborah Allen
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    Red Rover – Wikipedia, the free encyclopedia For the 2003 horror film, see Red Rover (film). Youths playing red rover. Red rover (also known as forcing the city gates and octopus tag). Todd Traina, producer and founder of Red Rover Films, has consistently produced unique and varied product and focused on independent films of. . Red Rover (2003) – IMDb William Baldwin and Jodi Lyn O’Keefe of ‘Halloween:H20’ fame are both set to star in a new movie playing as brother and sister who travel to their family’s ancestral. Grenier. Red Rover – The Movie – Trailer – YouTube Once your name is called you have no choice, but to RUN! : RED ROVER FILMS : ph: (415) 440-9300 | fax: (415) 440-9333. It is about two siblings played by William Baldwin and. House of Cool has been rocking the feature film. © 2006 Red Rover Films : RED ROVER FILMS : TODD TRAINA – BIOGRAPHY. Red Rover (2003) – Plot Summary William Baldwin and Jodi Lyn O’Keefe of ‘Halloween:H20’ fame are both set to star in a new movie playing as brother and sister who travel to their family’s ancestral. Red Rover (film) – Wikipedia, the free encyclopedia Red Rover (also known as The Haunting Within) is a 2003 horror / thriller film directed by Marc S. HoC Promo By consolidating our pre-production studio with our previously acquired commercial studio Red Rover, we intend

  37. arbucki misuney says:

    you have helped me a lot and I am bipolar and have severe depression but you got to this point and so can I. You are MY idol!

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