Economic Update with Richard Wolff: Economics, Psychology and Trump скачать в хорошем качестве

Economic Update with Richard Wolff: Economics, Psychology and Trump

On today's Economic Update, Professor Richard Wolff informs his viewers that the Chief Financial Officer (CFO) of Citi Bank, John C. Gerspach was asked at a conference last month about Citigroup's decision to substantially cut its branches in the U.S. and around the world (roughly 25%), Mr. Gerspach explained that the U.S. network of Cit Bank has now been confined to six major cities, which includes: New York, Los Angeles, Chicago, San Francisco, Miami, and Washington D. C. The Citi Bank CFO was quoted by the Financial Times with the following message when he specifically referred to those 6 cities: “It’s where the people with the money live, and we feel pretty good about our ability then to generate good returns going forward." This type of statement made by Mr. Gerspach may not sound very encouraging or optimistic for those who live in other parts of the U.S. On another segment, Professor Wolf basically explains that manufacturing has been leaving France and other "First Wold Nations" and moving to low-wage countries. As a result of these neoliberal policies, France has suffered economic setbacks, austerity measures, cutbacks on public services as well as public jobs. These policies have led to people being upset, disillusioned, and tired of conventional politics. One example is the Brexit vote where the British working class decided to leave the European Union. Although leaving the E.U. will not solve their problems, many of them saw it as an opportunity to express their outrage by voting against politics as usual. In the U.S. Presidential Campaigns of 2016, a so-called right-wing outsider Donald Trump was able to push aside conventional politicians like Jeb Bush by shaking things up and avoiding political correctness. On the other hand, Bernie Sander's charisma and hopeful message mobilized a lot of young voters and progressives. Nonetheless, Bernie Sanders was eventually pushed out of the scene by Hillary Clinton and the leadership of DNC at the time. As a result, the American public was left with two unpopular presidential candidates to choose from. Professor Wolff also talks about the French Presidential Elections and emphasizes the fact that all eleven presidential candidates were allowed to participate in the same debate, whereas in the U.S, third, fourth, and fifth party candidates tend to be excluded from major Presidential debates and mainly focus on a two-party race. On a different note, a Washington Post article discovered that admission policies at elite universities could possibly show favoritism since they take into consideration whether a particular applicant comes from wealthy family or not, or whether an applicant's family has donated money to the University or not and so forth. These educational institutions claim they are a part of a system where they have to compete with other schools, therefore they have to admit future donors or otherwise, they will fall behind. Legal and General Investment Management (LGIM) is the largest asset manager in England. This large conglomerate has over $1 trillion dollars under their management. This financial group has concluded that the successful businesses in the future will be the ones who adapt to the changing realities of climate change. The LGIM Group does not want companies to rely heavily on fossil fuels and will divest from companies that do not adjust or promote a green and environmentally friendly economy. Lastly, Professor Wolff interviews Dr. Harriett Fraad about the causes and effects of Donald Trump's Presidential election. #MNN #EconomicUpdate #RichardWolff #HarriettFraad #CitiBank #Banks #FrenchElections #DonaldTrump #BernieSanders #HillaryClinton #RNC #DNC #EU #BREXIT #99Percent #1Percent #Progressives For more information on Manhattan Neighborhood Network: http://www.mnn.org   / mnn537     / mnn59     / manhattan-neighborhood-network