Inflation, Europe’s energy crisis, and the Fed with Richard Wolff | The Chris Hedges Report

Inflation, Europe’s energy crisis, and the Fed with Richard Wolff | The Chris Hedges Report

Read the transcript of this interview: https://therealnews.com/richard-wolff-the-feds-response-to-inflation-is-another-upward-transfer-of-wealth

The Federal Reserve has responded to runaway inflation by hiking up interest rates at the same time that Americans are drowning in historic levels of personal debt. With interest rates up, prices will only rise faster than wages, hitting the vast majority of people with stagnant or declining wages in real terms. The result is yet another upward transfer of wealth to the minority of capitalists responsible for the crisis in the first place. Economist Richard Wolff joins The Chris Hedges Report to discuss the origins of the inflation crisis, the Fed’s response, and what this all means for working people.

Richard D. Wolff is Professor of Economics Emeritus at the University of Massachusetts, Amherst and a Visiting Professor in the Graduate Program in International Affairs at the New School. He is the host of the weekly program Economic Update, and the author of several books, including his most recent title, The Sickness in the System: When Capitalism Fails To Save Us From Pandemics or Itself.

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20 thoughts on “Inflation, Europe’s energy crisis, and the Fed with Richard Wolff | The Chris Hedges Report

  1. More evidence that this Middle East "crisis" is a false flag psy-op to speed up the reset. The Luciferian's are in full control. There is no such thing as coincidence where the globalist elite are concerned.

  2. When you pay your employee's more money your cost goes up and the price of what you produce goes up. Is that simple enough? It's a circle.

  3. Mr. Hedges, this man is grossly disappointing. He doesn't even understand that inflation is caused solely by an increase in the money supply, and that our debt-based fiat currency system is a Ponzi Scheme. Criminal central banksters are to blame.

  4. Folks the comments are not listening. It's all contrived and the people who don't have the power , the ones being pitted against each other over made up issues that manufacturing emotional triggers that still work very well in the good old USA. Lt. Gen. Smedley Butler! Who is he? Sing the National anthem, put your hand over your heart and sing the hokey pokey still your back bone slips, shake to the east, shake to the west shake to the one young think is best…by voting…ha ha tricked again.

  5. Nonsense. Inflation is a demand v supply equation response.
    And then there are factors like interest rates that when hiked by the feds increase cost of doing business, cost of energy that effect production cost etc.
    It is the government lockdowns, feds increasing interest rates, unnecessary wars that is causing the inflation.
    And now with the climate change policies, it is making the situation worse with attack on farmers, agriculture and raising energy prices.
    All problems point to the government and the media acting as sheep herders for the voters to keep voting for these uniparty types.

  6. The economy is grappling with uncertainties, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

  7. Well with the economy and stocks at where it is now, I'd be disappointed if people weren't making any error on their portfolio at this time, it was much easier to navigate during the bullrun, regardless I still see and read articles of people pulling over $225k by the weeks in trades, how come?

  8. Wage/price freezes, rationing, and antitrust/pricegouging legislation, three superior ways to control inflation. It's even good for the finance vultures in shadow banking. The spike in interest rates caused the value of long-term government bonds to collapse at Silicon Valley Bank. Shorter paper became more valuable, leading to a bank run when investors realized how severely undercapitalized SVB actually was. Twitter took down a bank with more capital at risk than all of the bad guys from 2008 put together.

  9. What we have in America is not capitalism. The government has been captured by globalist and corporations. Inflation only serves government cronies and banking institutions. Wolff is a well known communist, part of the hate America group.

  10. Raising prices are due to the rising cost of oil for one, and that reason IS from government (Biden policies) not allowing oil from our own soil to be used causing us to buy dirty crude from other sources for more money. Its not some evil 1% , sounds like the typical socialist opinion .

  11. Close to the end Professor Wolf answers a question I never could: Why did Hindenburg royalty from the German ruling class appoint Hitler chancellor because they knew Hitler would support them and eliminate the left. Goebbels bragged that he destroyed the Communists! Google Hitler’s first speech after becoming Chancellor it’s a masterpiece appeal to the common man of Germany. They loved him but five years later their share of Germany’s GDP. Had fallen by a third. You do not need to even guess where that third went.

  12. 26:25 Mister Wolfe, I am also Jewish but I take umbrage with what you just said. Are you equating Trump with Hitler? Did you just say that determined people embraced Hitler because "Hitler wanted to make Germany great again?" Are you saying that Marx was a "great thinker?" This is why I listen to the left, so I can remain firmly centered in reality. Thumbs down.

  13. 🤔EURÓPA si to zapríčila sama.Vedela že nemá už bohatstvo Zeme spoliehala sa na USA😂😂😂 ale ani USA už na tom nie je OK😅A prichádzajú krízy😂

  14. hard to take a "expert" seriously when they think price rises are inflation. prices might rise because of inflation but a business putting its prices up is not always inflation. lack of supply/competition, an increase in demand

  15. Si pero ya usted empezó Mal,llamando a Él presidente Putin Dictador,Cuando usted q es Abogado Conoce d primera mano 🤚 q los Primeros Dictadores está sentado en Washington,y también Conoce q la OTAN es el negocio d la Guerra,esto s lo digo al candidato d raza negra q está corriendo por los demócratas.💪🏾🇵🇷🇲🇽🇻🇪🇨🇴🇷🇺🇨🇺🇨🇳ect ect dejen d sancionar para q esos países puedan Vivir como vivimos aquí 🙏

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