The Socialist Program with Brian Becker
Trump’s Trade War: U.S. Empire Is In Free Fall w/ Prof. Richard Wolff
Apr 23, 2025
Join Richard Wolff, an influential economist and co-founder of Democracy at Work, as he dives into the chaos of Trump’s trade policies. He discusses how these strategies might not only unsettle the stock market but also spark a 'capital war.' The conversation expands to explore the U.S.'s shift from a safe investment destination to a zone of economic uncertainty. Wolff critiques the intertwined narratives of politics and media, warning of America's declining global influence and the potential repercussions of aggressive foreign policies.
31:53
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Quick takeaways
- The ongoing trade war is manifesting as a capital war, prompting wealthy investors to reevaluate and diversify their assets away from the U.S. economy.
- Escalating economic tensions between the U.S. and China raise concerns about potential military confrontations, reflecting the fragility of America's global standing.
Deep dives
The Threats of Financial Primacy
Concerns are rising regarding America's financial primacy as volatility in markets and dollar weakness suggest a potential shift away from the U.S. economy. The Wall Street Journal highlights that recent financial conditions mirror those of the Great Depression, indicating a dangerous transition from a trade war to a capital war. This shift signifies not just disputes over goods and services, but also an alarming reallocation of global investments, with wealthy individuals increasingly wary of the risks associated with the U.S. economy. Specifically, the implications of tariffs and sanctions imposed by current leadership may be prompting affluent investors worldwide to diversify their assets beyond U.S. markets.
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