cross-posted from: https://lemmy.world/post/24646010

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Video Description:

Global Capitalism: What Trump 2.0 Means

We are thrilled to share the replay of Democracy at Work and The Left Forum’s special live, in-person Global Capitalism event, held this past Saturday at Women Building Up (WBU). Professor Wolff gave his thoughts and analysis on what the new Trump Presidency means and how we may react.

Please find books published by Democracy At Work:

Richard Wolff’s:

(Understanding Marxism, Understanding Socialism, and The Sickness is the System: When Capitalism Cannot Save Us from Pandemics or Itself)

Robert Hennelly’s:

(Stuck Nation: Can the United States change course on our history of choosing profits over people?)

Generated Summary:

Acknowledgment and Introduction

  • The speaker begins by expressing gratitude to the audience and acknowledging the collective pride in their presence at the event.
  • The speaker’s main objective is to address questions regarding the upcoming election and the new government, including its anticipated actions and underlying motivations.
  • The speaker warns the audience that the information shared may be unsettling, emphasizing their role as a messenger of reality rather than a creator of the circumstances being discussed.

The Context of Decline

  • The speaker highlights the current state of the United States, describing it as a nation in decline, contrasting it with the previous century of growth and prosperity.
  • Historical context is provided, with references to the decline of empires and the challenges faced during such periods, noting that America is now experiencing a similar trajectory.
  • The speaker points out that the division within the country is rooted in this decline, suggesting that many leaders are unable to acknowledge the reality of the situation.

National Celebration and Division

  • The upcoming inauguration of a new president coincides with the anniversary of Martin Luther King Jr.'s assassination, symbolizing a stark contrast in national sentiment.
  • The speaker notes that the celebrations surrounding the new president are likely to be met with mourning for King, highlighting the deep divisions within the country.
  • This division is pervasive and will have significant implications for the lives of citizens, as it reflects a broader societal split regarding values and beliefs.

Historical Failures and Losses

  • The speaker discusses America’s historical military failures, including the Vietnam War, Afghanistan, and Iraq, emphasizing that these losses contribute to the current climate of decline.
  • The ongoing conflict in Ukraine is also mentioned, with the speaker suggesting that the U.S. is in the process of losing this war as well.
  • The speaker expresses concern that certain audiences may be resistant to acknowledging these failures, which complicates discussions about the nation’s trajectory.

Global Economic Shifts

  • The recent inclusion of Indonesia in the BRICS alliance is highlighted, illustrating a shift in global economic power dynamics away from the U.S.
  • The BRICS nations, which include Brazil, Russia, India, China, and South Africa, now represent a significant portion of the world’s population and economic output.
  • In contrast, the U.S. population constitutes only a small fraction of the global total, indicating a shift in economic influence toward the East.

Impact of Tariffs and Economic Policies

  • The speaker discusses the implications of tariffs on imported goods, particularly electric vehicles from China, and how these policies serve to protect American automakers at the expense of consumers.
  • Tariffs create a significant price difference for consumers, making it challenging for them to access better vehicles while benefiting domestic manufacturers.
  • The speaker argues that such economic policies ultimately harm American businesses that rely on competitive pricing to thrive in a global market.

Debt and Economic Vulnerability

  • The speaker highlights the increasing levels of household, corporate, and government debt in the U.S., drawing parallels to the concept of “zombie corporations” that struggle to survive under heavy debt burdens.
  • Japan and China are identified as the primary creditors of the U.S. government, demonstrating the nation’s reliance on foreign nations for financial stability.
  • The speaker emphasizes that a portion of U.S. tax revenue is allocated to servicing this debt, which indirectly supports foreign military capabilities, further complicating national security concerns.

Political Landscape and Public Sentiment

  • The speaker discusses how political leaders have failed to address the economic decline, resulting in widespread alienation among the populace toward both major political parties.
  • The rise of Donald Trump is framed as a reaction to this alienation, as he presented himself as a disruptor willing to challenge the status quo.
  • The speaker compares Trump’s appeal to that of Bernie Sanders, noting that both figures emerged as voices for change amid a political landscape that failed to meet the needs of the people.

The Role of Labor Movements

  • The speaker points to a resurgence in labor movements as a potential response to economic pressures, highlighting recent organizing efforts at companies like Starbucks and Amazon.
  • This revival is seen as a crucial factor in addressing the challenges faced by the working class, which has been historically marginalized in discussions about economic policy.
  • The speaker emphasizes the importance of solidarity among workers as a means of countering the pressures of economic decline and political disenfranchisement.

Conclusion and Call to Action

  • The speaker concludes by stressing the importance of collective action and solidarity among the populace to navigate the challenges posed by the decline of the American Empire.
  • There is a call for individuals to recognize their potential power in effecting change and to actively participate in movements that advocate for workers’ rights and economic justice.
  • The speaker encourages the audience to build on their existing networks and to engage with one another to create meaningful change during this critical period in history.

About Channel:

Democracy at Work is a non-profit 501©3 that produces media and live events. Our work analyzes capitalism critically as a systemic problem and advocates for democratizing workplaces as part of a systemic solution. We seek a stronger, fuller democracy – in our politics and culture as well as in our economy - based on workers’ equal collaboration and shared leadership inside enterprises and throughout society.