PODCAST: What’s Behind The Market Meltdown?

With fears of the coronavirus hammering stock prices, economist Jerry Robinson examines the factors fueling the falling markets and the uncertain horizon ahead.

• Yields have collapsed and another Fed interest rate cut is likely in March
• Price discovery is hard to determine on rapidly falling stocks
• The coronavirus is still wrapped in uncertainty
• Trump’s proposal to temporarily cut payroll tax (to the tune of $1 trillion)
• Trump’s proposal for bailouts

Highly-successful author, expert economist, and emeritus Professor Richard Wolff returns to our podcast to discuss the current market environment with Jerry. Also, he offers a fresh look at Karl Marx and socialism through his new book: Understanding Marxism.

• Sanders has achieved a historic victory by breaking the taboo of socialism in the U.S.
• On average in economic history, there is a downturn in capitalism every 4-7 years
• A symbol of the imbalance in the U.S. is the inequality
• Marxism is the critical shadow of capitalism
• There is no reason to be afraid of the debate between capitalism and socialism
• Marxism is the most developed accumulation of criticism – and is the “child” of capitalism
• Much of what is perpetuated in Karl Marx’ name is a case of unintended consequences
• The demonization of socialism is the fear that the leaders of capitalism won’t be the leaders of socialism

Jerry closes out today’s show with a simple yet challenging way to view every day of our lives.