WORKING CLASS Suffers Most From Fed Interest Rate Hike As Housing Market TAILSPINS: Richard Wolff

Economics professor and co-founder of Democracy at Work, Richard Wolff, weighs in on troubling signs the housing market is posing in the U.S. economy, as the Federal Reserve has been raising interest rates. #Housing #FederalReserve #Economy #interestrates

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  1. So well put that hardly any media companies or politicians are speaking about. Inflation is price rise, and who raise prices, employers. Why because they want to make massive profits. It is that simple.

  2. When he talks about purchasing managers being held responsible for “working with contacts to get around supply-chain shortages”, Wolff is describing the tacitly accepted corruption that was endemic to the planned economy of the Soviet Union.

  3. During Trump, pre pandemic, wages for the working class were rising faster than they had in 50 years. Then the pandemic happened and the establishment decided we all had to hide in our homes and the Waltons and Bezos got richer than ever.

  4. Can you all turn down presumably Robby's mic? All you hear when someone who is not him is speaking is his deep sighs, huffs, and puffs. Big fan of Robby (if it's not him making those sounds I apologize) but can the producers work to reduce those audible sounds?

  5. Somehow I don't think freezing prices is going to increase production, why would anyone invest in any kind of productive business if you can't be assured a return not based on market conditions but on some all knowledge central price setter…. it's been tried before and the results are lower production and higher prices, the opposite of what we want.

  6. The problem is not currently rising rates. Their mistake was dropping rates to zero, and leaving them there for too long. Now wealthy people are going online and acting like they care about the little guy having affordability issues. All they want is for rock bottom interest rates to continue so they can keep getting cheap debt to keep competing for single family home purchases, raising the prices, and raising the value of the properties they already own in the process. Prices are way ahead of salaries and anyone arguing against rising rates just wants to keep inflated asset prices going.

  7. has mr wolff been a guest on mainstream media recently? Ive noticed a pattern in MSM where the guests are 'sooo happy to be here' and they praise the host for questions asked of them. I find it strange to do so as hosts and guests don't need to be that friendly with each other…just report the news or explain your point and leave out the platitudes. imo

  8. Only the producers/sellers set prices? This is imbecility. If you freeze prices, wages will rise? Impossible, as wages are prices. Better Robbie than me🤣 Is Briahna a Marxist? I haven't watched much of their 'economic' stuff but assumed she was a Neo-Keynesian.

  9. Another demented Socialist. What they forget is no person should be controlled by another! The more freedom and responsibility people have the fewer economic problems. The government, a group of people, or some bureaucrat cannot make good decisions that benefit each individual!!!
    The individual must be responsible for their own bad decisions. When the government bails out bad individuals and bad businesses it destroys good economies.
    Decisions made by governments are criminal.

  10. I just spent 3 weeks in Denmark (that Democratic Socialist country Bernie always talked about)
    I was anticipating sky-high prices in DK but was surprised to find the groceries cheaper then here in US (especially pork and bread)
    Also their government put price controls on gasoline so every gas station was the exact same price (unlike here where it’s a shock every time you go to the pump).
    Now of course some of this was due to the strong US dollar

  11. Lol) Isn’t the Fed doing absolutely the right and customary thing like it aught to? It’s punishing average Am’s for the corruption, greed, lack of foresight plus bungling of the elites. “Good job!” DC. “👌👍🏻”

  12. Wow, this guys economics is so out of whack with reality but I am grateful he’s just a professor and not a business leader change in the world. What an absolutely terrible viewpoint of economics

  13. I lived thru the inflation of the '70s. Nixon's price controls DID NOT work, and inflation wasn't tamed until the early 80s. Furthermore, Nixon WAS NOT a conservative.

  14. Working class,you mean the people who pay the bills for all there fun and games 2008 repeats itself from job loss to foreclosures to repo cars, from the people who call us working class, abolish the who thing tired of funding other countries wars

  15. Has Wolf ever predicted anything correctly. The dem party did the horrible job on the pandemic. Your dems are in control, Fed is a socialism principle, is he saying to get rid of the Fed?

  16. This dude keeps saying the same thing. Robbie asked the perfect question, aren't corporations always greedy and trying to maximize profits? This world class economist couldn't even come close to answering. Just a total side step. Terrible take as usual, professor.

  17. dude just strings monotone words together until no one’s listening anymore so no one can even respond to what he’s saying. he consistently demonstrates his idiocracy every time he speaks.

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