the "Excess Capacity" we should all be concerned about is USA's _Military_ Excess Capacity.

@richardparker1338

7 күн бұрын

If it was excess capacity, that wouldn't be the issue. It is that it is fully utilised in supporting the wars that the US provokes, the illegal invasions and wars of aggression. The US should dial back the millitary aggression, creating excess industrial capacity to produce say electric vehicles, railroads, bridges, infrastructure. Unfortunately the production of overpriced high profit margin consumable war stuff which does not carry any guarantee is a "better business". Most of it only has to "work" for a few seconds before it self-destructs along with killing other humans.

@PhiloSurfer

7 күн бұрын

Supported by the huge excess capacity of the USD - rampant printing of the greenback.

@youwaiyap2708

7 күн бұрын

add more 2-cent: also the US DOLLAR 😱😱😜😜

@user-pr1ll1zy4n

7 күн бұрын

​@@richardparker1338 And using taxpayers money to enrich the fat cats of the MIC at that !

@displacednaija

7 күн бұрын

Invicible hand of market forces 😂

The honest man telling the true without hasitate👍

Shame on Yellen😡… as a former classmate of Wolff and an economist at that, she ought to know better than to spout nonsense about “overcapacity “, “cheap” and “unfair practices”. Sad truth is that 🇺🇸 cannot compete. Buying time with tariffs will not work - 🇨🇳 will be so much further ahead of the game that catchup is impossible. It’s the citizens who will lose as they can only afford 🇨🇳 EVs.

@clacicle

8 күн бұрын

You’ve never done business in China nor know much about how they conduct business there.

@adamiskandar5107

7 күн бұрын

@@clacicle ...and you have? Pray tell, how do they conduct business.

@elianamckee

7 күн бұрын

I don’t understand how Yellen can be do bad. Did she miss all the lectures?

@elianamckee

7 күн бұрын

@@clacicleI work with Chinese businesses and they are very professional. No different from any American business.

@flyingnan2520

7 күн бұрын

​@@elianamckee I think Yellen knows that she is doing opposite to the theory of the economics of capitalism, but she has no other choice. She has to do everything including telling lies to maintain the superpower of the United States, by stopping China taking over the industries of manufacturing vehicles, vessels and aircrafts. Though I'm Chinese, though I know what she said is totally wrong, if I were at the same position of her, I will tell the same lie.

Prof Wolff is one of the most sober and conscious, intelligent American that I found. What a huge difference between him and those politicians in Washington DC

Thank you to strengthen this out. The current administration is out of control.

@yu-jd5jg

8 күн бұрын

The Sickness is the American System. Changing the person or the party occupying the WH will never solve the myriad ills in the USA as the US is a Plutocracy and never a Democracy. The actual power in Washington belongs to the Deep State Global Capitalists aka Mega Financial Donors for Washington's corrupted and self-interest politicians

@richardparker1338

7 күн бұрын

No, it's not out of control. It is under the control of the donors. The US government works as follows. Get in power > serve the donors> get rich > stay in power > retire to a donor sponsored sinecure The population does not even get considered, they are the idiots to be manipulated by the billions spent on advertising politicians.

@rogerstarkey5390

7 күн бұрын

as was the previous

Sadly nationalism is a fierce force. Many people, otherwise honest and honorable, became willing liars when facing losing competitions with another country. No trick is too dirty to smear and drag the competitor.

@adamiskandar5107

7 күн бұрын

This is not even about Nationalism. If it was, it would be wars started (deliberately, secretly) by America to unite the nation however unjust it might be. Like how the good prof. explained, I just hope that the American people would not fall for the lies of the politicians and looked out for the people instead.

US speaks with a forked tongue since the red indian days !

Hello professor Wolff…Thank you for telling us the truth about all the things we don’t understand. I appreciate your teachings and love listening and watching you on KZread! Robin🤗🌺 PS I never listen or watch the news anymore… Just your videos!!

@user-rj8ln5qj2u

7 күн бұрын

Me 2 , tired of media lying to us , only KZread channels i watch , to gather some of the truth and the untold story 👍🙏💐

Thats' telling it the way it should be told!!!

According to Yellen all countries must produce just enough for its home market. If so, no trade is possible. Since countries with no industry but plenty of copper ore would be in "overcapacity", should they mine it and sell it overseas. The USA is now in "overcapacity" because they have so large a military that they don't have enough bases for them at home on US lands. The US navy is in "overcapacity" because they can't all be based at home! The biggest "overcapacity" culprit is the US of A!

"How do wars start? Diplomats tell lies to journalists, then believe what they read." (Karl Kraus)

Wolff brilliantly point out what I've been pondering to myself, pertaining to global markets

Richard thanks for explaining how free trade, US style, works.

The problem is if governments keep people in the dark about things they becaome mushrooms.

I wasnt even able to afford a gas car in America let alone an electric car American made or otherwise. It is highly annoying to me that citizens of the USA have to pay the price for this childish fight between China and the USA. In any case I solved the problem by taking my talent and my money and moving to Vietnam where everything is more affordable and I dont even need a car, paid $2,000 cash for a scooter and I have everything I need.

Exactly Well said Well described

Dr. Wolff : Tks. much

Domestic producers is oxymoronic. We have assembly plants. Things are made with cheap labor in foreign countries and shipped here for assembly. We don't make anything, anymore. Assemblers have far less clout in wage negotiations than unionized plant operators of previous years. Automation is code for de-unionizing.

@richardparker1338

7 күн бұрын

The US is the main global exporter of 1. Lies and hypocrisy. 2. Weapons and war. 3. Economic destruction. 4. Sanctions.

the ones that will win due to this tariff will be Mexico. Due to NAFTA all the company will now move to Mexico, both USA and China company will move there.

@SagittarianArrows

8 күн бұрын

Does not mean quality control is best price for quality!

@richardparker1338

7 күн бұрын

And the Chinese will still build quality products at a low price, whilst the US companies will build lower quality at a much higher price and go out of business. That's capitalism. Either up your game or stand on the sidelines.

@Alfyannn

7 күн бұрын

South china mourning post made a great video about this i recommend you to check it

@user-if1vh8po2f

7 күн бұрын

Very soon, Americans will be heading south for better jobs than in their own declining country!

Dr wollf talk I listen!

Elon Musk pioneered EVs but he created luxury vehicles that no one normal could afford. My '96 Toyota Tercel is on its last legs and I'd love access to a no frills Chinese vehicle. I don't need to be entertained while driving.

@drakekoefoed1642

8 күн бұрын

i only need to go around town, and i need to be able to move stuff like furniture for friends. i need something like the old 1980 toyota sr5 p/u in electric. no need for anything on the inside of the doors, don't want digital dash. no need for carpet, none of it. the one i have now has no heat and no ac in west texas. not comfortable but it goes. they had a little truck for 2k at one time, the street legal one must be a little more. they do the same thing here tearing down good old houses and gentrifying. there are square miles of hay right outside town. and they tear down nice places i would have loved to have when i was young. usa is all messed up. irredeemable

@adamiskandar5107

7 күн бұрын

@@drakekoefoed1642 You have democracy. Couldn't you, the people do anything?

@richardparker1338

7 күн бұрын

@@adamiskandar5107 Democracy in the US? Effing joke. Only $$$ get counted, not votes.

@fannyalbi9040

6 күн бұрын

elon musk started the ev as luxury car because it was funded by us government

Thanks!

❤Thank you very much for this lesson Professor

I normally don't agree with your foreign policy takes, Professor Wolff, but this one is unequivocally correct.

The US knows Chinese cars are really that good. The price and quality as well as range of Chinese electric cars are hard to beat. The best quality Teslas are manufactured in Shanghai. So America would lust to have Chinese EVs on their streets. No problem. Bring on the competition!

@TacticalMayo

8 күн бұрын

Nope no thanks

@garylee9668

7 күн бұрын

@@TacticalMayo i want one.

Thank you.

Thank you and bless you, Sir.👍🙏🙂

american ev car makers don't have to have competitive prices anymore, as the competition, China has been priced out of the market. They can now raise prices almost as high as they want.

@peanut0brain

8 күн бұрын

Sure. Like a $86k Ford pickup truck lol

Thanking you

Thank You.

Thanks for the clarity Proff, speaking truth to admonish the ignorant and to bring Net Zero a reality FASTER.

Very well said

What's excess capacity? Every couhtry hwve excess products which they export to others. This has been normal for millennium.

This is true also for agriculture products!

US : 3 detroit,, japan : misubishi, toyota, honda,,, south Korea : Hyundai,, germany : VW, BMW,, italia : ferrari ? .... Stellantis ? 😮..... elon musk : In China alone, there are 9 automotive companies that have to compete, one of which is Tesla..

@lavaltsangmanpun3841

8 күн бұрын

Professor Many many Thanks from of all yr Audiance and The World at Large for Telling Us the TRUTH. Cheers from Mauritius 🇲🇺

I value your economic insights (and your laments about our senseless war in Ukraine, which I share) greatly, professor. Thank you!

I’m very concerned about the United States increasingly relying on India as a strategic partner against China. My fear is that this approach may inadvertently create a real new adversary. India’s growing presence in key sectors inside USA such as IT and government raises the potential risk of significant influence. If there were intentions to leverage this influence, it could pose a substantial threat to US interests.

Sad that Yellen as a trained economist has gone to the dark side.

I was a Phil Grahm fan for a minute I'm curious as to why won't they put you on the rodter to make decisions Think they fear you becoming the MVP YOU SPEAK ONE HELL OF A PIECE DO NOT STOP !!! APPRECIATE YOU

Sad truth

Thanks

The car company AMC was another one that was around.

Thanks for the video.

Someone described Yellen’s overcapacity allegation as covering up for the west’s excessive liberties in taking long breaks, high wages not pegged to productivity and efficiency.

Well said, salute 🫡

The high cost and huge waste are good for keeping you working.

Right 👍

Macro and micro : Whoever own the military, and financial complexes, their long term plans are nothing about democracy, humanity, and freedom. Wars, and conflicts are what they want.

Let's be adult and be friends.

Take care. You know what happened to Lira and Assange.

About to listen but if you are taking questions, can you explain national debt. Example: China bought US debt. What does that mean, and if parties fail to pay - what happens? Thank you in advance & sorry for skipping out on my economic classes 😅

Prof Wolf is absolutely right Us overcapacity in Arm race Any cheap and good product benefits consumer worldwide

Subscribed 😅😅😅

That's what the word propaganda is for.

Regarding Japan, think back to the Plaza Accord and the consequences that had on the Japanese economy.

Excellent presentation. Keep it up.

❤❤❤

Yellen should read Adam Smith's greatest book on Economics!

🌹

Yellen probably forgot her English and what "over capacity" as an English word mean.

Chinese didn't develop its EV industries for export markets. They have an over 30 million CARS a years local market.

Not only lies theft to check your interest in the banks .

Prof Wolff, who to blame when US don't want to improve themselves to compete fairly ?

A lot of US corporate investment is still in China. US tarrifs on various cars/trucks has been going on forever. That's why Japan builds so much in US and Mexico. Markets have never been free.

Impeding other country's development is not a foreign policy

History books tell us that the Cold War ended in 1991. I think that history books of the future will talk about it merely as a thirty year lull in the ongoing hostilities.

👍👍👍

I think most of us here want to see the free market end. Anything to that end is good.

Spot on Professor Wolff. What it is all about is racism. US just can't allow someone to challenge its uni polar position (especially those they look down on). This goes back to the Exclusion Act of spring1882. A flaw in human genome. Has to be top dog at all cost.

THANKS FOR THE UPDATE BRAVO CHINA AND RUSSIA. MORE PRESSURE, MORE STRONGER. SHINING LIKE A DIAMOND SOME COUNTRY'S SUPPORT W@R, BRING WE@PON AND TOOK LIFE BUT CHINA BRINGS PROSPERITY (BRI) AND GAVE LIFE ONLY CHINA AND RUSSIA (BRICS) CAN LEAD AND BRING STABILITY AND BALLANCE OF POWER OF THE WORLD TO STOP HYPOCRISY AND WARMONGERING MINDSET

classic example would be solar panels industry

As long as they don't put tariffs on temu I'm okay❤Chinese military

Economic of scale and numbers count.

I think that it is brilliant that Richard Wolff is able to talk freely and honestly about the situation, and to be able to criticize his own country without fear of repercussions. China would significantly benefit if it had a more open and less repressive system, where citizens were free to voice their opinions and speak truth to power. However, as it stands, everyone in China knows that a standing nail always gets hit down hard, and for this reason people are very reluctant to speak out. Very hard for a system to improve under such conditions. Freedom of expression is so important.

@KG-fs4ng

7 күн бұрын

I suggest you pay a visit to China (i presume your are open-minded), and i'm pretty sure your opinion of "no free speech" shall change!

America continue to rely on air for mid-long distance travel and car for short-mid distance. China is switching to high speed rail and ev.. One is dependent on a limited, non renewable resource and one is moving towards sustainable and clean erergy. Over the long run, which country will win out? Will America ever decide to make the switch from such a poor resource strategy? forget about the environment, does it make economic sense to rely on increasingly scarce resources？

Professor Wolf better be careful if/when travelling abroad , he may get his Passport removed to stop him travelling like Scott Ritter . Thanks for sharing …..

The Chinese have two problems with building EV's successfully.. They don't make car parts very well, which isn't surprising since it took the Japanese decades to become the world's preeminent vehicle manufacturers. And as for EV's themselves, no one wants them because they suffer from the same drawbacks they did a century ago when they were replaced by a superior technology.

China is not the one misrepresenting and lying about these situations. I respect Prof. Wolff but he is wrong to both-side-the-same in this instance

each person follow God's leadership of divine will unity central authority

Who Responds? Wolf Responds!

cmon rich, yellen doesn't know how capitalism works. no capitalist economist does.

Is the serperior quality of the the Chinese EV proven? Are they using sodium battery? What makes it better quality? I totally get discouraging foreign cars to support local manufacturing. But these all just sound capitalist problems.

@ADBLOCKER4YOUTUBE

8 күн бұрын

"I totally get discouraging foreign cars to support local manufacturing. " Have you looked at the pure garbage that American manufacturers produce?

@Kcoldraz

8 күн бұрын

Sorry too poor to actually buy a car 🤣😂🤣 Even if what your saying about quality of cars are true, it doesn't really say anything about the value of on-shoring jobs.

We need more billionaires so there will be more trickiling down monies for us the working-class 😂

Only audience from US and its allies believe in the laughable accusations by Yellen and Biden. We just watch such news as entertainment.

But when you raise a tough in other countries, you're not really hard to know about it. You don't improve your heart to how to walk in class people. How do you get to hurt your own Americans in the process as well?

I am really discouraged when I listen to Biden, Yellen , Blinkin or Trump. I am not a expert but if I can pick out the lies about economic or financial information they are reporting, that's not a good sign.

Oh it's not going to stay cold I can guarantee you that.

@taiwanstillisntacountry

8 күн бұрын

And who will fight against the PLA? The Sepoy army of little-D-boi's country? 😂😂😂😂😂😂😂😂😂😂😂

@adamiskandar5107

7 күн бұрын

Even if they are not prepared and suffer huge losses and lose the war? You are a true warmonger!

@TacticalMayo

7 күн бұрын

@@adamiskandar5107 what do you think because you tried to tell us all these statistics that's going to intimidate us. Talking about even if you lose 🤣, trust me if we lose everything loses.

we subsidise our largest companies- Boeing for example gets the most for an individual company- Americans subsidised almost of the greatest inventions from touch screens to supercomputers to the internet to every drug released over the last decade (hence we pay the highest prices for what WE PAID TO RESEARCH) China is simply better at this - they subsidise their small & medium businesses w a close hand in HOW & WHERE the $$$ is spent unlike our country where a pen or a chair at the pentagon costs 100 or 10K - China is better at capitalism BECAUSE they r socialist & the US doesn’t do capitalism they can’t compete that way 😂🤦🏻‍♀️

In the sporting world the looser engaged in foul play will be known as a poor sport! US you take the crown!

@adamiskandar5107

7 күн бұрын

The Tonya Harding syndrome.

I agree with China being lower price. But Chinese quality is always lower than everybody else.

Wake up you’re no engineering specialist. Haven’t you seen low quality parts and two wheelers and the low quality of Chinese products. Let it happen. Now May the domestic production fight it out and see what happens. Your statement is very general. No real time tested product analysis here. No need to flood the USA with frontal good looking plastics

@georgewilder7423

7 күн бұрын

Sounds like you're no engineer either! Bharat, have you seen the quality of Indian toilets?? No you haven't, cos there aren't any...😂😂

@adamiskandar5107

7 күн бұрын

Before you know it, the world would be no longer dominated by the US like before. Pls continue your sleep.

@bharatc.sampat6406

7 күн бұрын

@@adamiskandar5107 enjoy your days of mediocrity

@Leoq-zk6wt

7 күн бұрын

if you truly believe in human spices, not a racist, then Chinese STME students is nothing less than anybody else, and China has 4 times more of them than the US every year. Look at the space program in China, thanks to NASA, China has proven it can manage it without any help from the US. Anyways, if China can only produce low quality goods, just let them sell it to the US, no need to put 100% tariffs, the US car producers can beat them anyway, right? Simple logic, nothing fancy about the truth.

@julesc5924

Күн бұрын

Chinese Evs will dominate... They've spent the last 20 years developing them instead of spitting out gas guzzling vehicles left and right...

I’m led to believe that gm is a partner of wiling car manufacturer gee the USA sanction it selves , there is a large part of USA bisness those companies went to china for cheap labour norm

Thanks!

Thanks

Thanks!

Thanks!

Thanks!

Thanks!