Trump’s trade war has brought upon us another series of economic threats and a question — what is going to happen now?

While it is easy to predict unpleasent outcome, that does not answer the question: “what exactly can we expect?” Well, there are some good, and bad news.

Good news is that further events can be predicted fairly precisely, because they have a historical precedent from the beginning of the 20th Century, when economic crisis led to two devastating World Wars.

If that are good news, better not imagine the bad ones!

But the bad ones are already knocking on the doors of the US and global economy. Trump has started a trade war that does not have a slightest chance to improve anything. On the contrary — it is very well known from the history that trade wars always lead to the hot wars. The only way to escape war finale is to be informed of the events and their consequences — which is not possible in the environment of corporate media which are flooding information sphere with fake news.

Chris Hedges brings from time to time professor Richard D. Wolff, who can perfectly clearly explain historical events that corresponds with the current situation. Yes, the news are bad, but the worst consequences can be avoided only if you know the truth…

[00:30] Rising inequality as an announcement of collapse.
[01:45] Late Louis in USA
[03:10] New tax cut revelation
[04:20] Last time Capitalism crashed, in 1929…
[06:25] The truth about anti-socialist propaganda
[08:50] Fictional numbers, or how stats lie…
[11:10] Angry working class
[13:07] Lost control over economy — Public and private sector
[14:55] Removing control — consequences
[15:40] Buying back stocks — suicide of economy
[17:39] Political theater of tariffs
[20:51] Historical rerun with capitalism self-destruction
[22:40] Multipolar World as a result of economic meltdown
[24:18] Evading the debate on capitalism
[25:55] Trump Presidency as the last gasp… “Après moi, le déluge”

Duration: 28:27

Richard D. Wolff is Professor of Economics Emeritus, University of Massachusetts, Amherst. He is currently a Visiting Professor in the Graduate Program in International Affairs of the New School University in New York.

Further lectures of Professor Richard D. Wolff you can find here:

…And at Democracy at Work (d@w)