Youtube daily which Dec 4 2017

Welcome friends to another edition of Economic Update, a weekly program devoted

to the economic dimensions of our lives, jobs, incomes, debts, our own, those of our

children, those in the largest society we live in.

I'm your host Richard Wolff, I've been a professor of economics all my adult life

and I hope that that has prepared me well to present these weekly updates, to

get an idea of what's going on in the economy around us. I begin one more time

with the uber corporation I talk about them because it's important to

understand that the so called gig economy or the so-called startup economy

has another side to it which their publicity hides but which it's important

to understand first the stark facts that were recently released a year ago 2016

hackers broke in to the uber system and thereby got all kinds of information

credit card numbers addresses all of that of get this 57 million uber

customers and drivers a year ago we learned about it over a year later it

was hidden by the uber company they knew all about it for a year but the news

gets worse a ransom was demanded by the hackers in order not to use and go

public with what they had achieved and the uber corporation paid them $100,000

good deal for the hackers to hide all of this but as these things will it came to

light what does this mean well it means that uber lied to us by not telling us

57 million of us that our information had been compromised for a year

lord knows how many people's lives were messed up in terms of their

and a whole lot of other things like that over that period of time a ransom

was paid that's how the corporation handled it well let's see what that

means here's what it probably means without having the books of the uber

company available you can't be sure but it probably means that companies like

uber which accumulate all kinds of very valuable information or to spend a lot

of money making sure these private bits of information are secure

clearly uber didn't do that and maybe uber calculates like no doubt other ones

of these companies do that it's cheaper to pay off the hackers $100,000 then to

make sure that our information given freely to uber is secure and this leads

to the general conclusion about companies like uber basically uber

provides taxi rides that's right they do the same thing that a taxi company does

you get involved with them you call them you hail them and they take you where

you want to go that's what uber does only this is a difference years ago when

taxi rides began and people discovered that the taxi might not be safe might

not be maintained correctly might not have the adequate insurance it needs we

discovered that the private taxi company would shave the corners to make more

money and so to protect the public we instituted commissions and the

Commission's made the taxi companies take the necessary precautions and that

of course is expensive so what the Commission's did was set the taxi rides

at a price that would pay the driver and pay the company enough money to meet the

demands of the commissions for our safety

all that uber is is a way around the safety and thereby they can compete with

taxis because they don't have to maintain the same

50 they don't have to maintain the vetting of the driver they don't have to

maintain the insurances that a regular taxi company has so they could make more

profits which they did and we pay the price

you know how the drivers aren't as good the insurance isn't as good the

maintenance isn't as good and now we discover that the security of our

information isn't very good taxi companies didn't accumulate that

information we didn't have to be protected now we discover like with

taxis we need a commission to oversee this company because in its drive for

profits it sacrifices the public and that's a problem with a capitalist

system where profit is the bottom line not serving the customer that's only the

means to get the bottom line up there and we can see what that means my next

update has to do with sugar sugar is a crucial item in the diet of the United

States and over many other countries sugar produces that is the capitalist

companies that raise process package and all the rest sugar have an association

like all industry groups it's called the sugar Research Foundation it turns out

in an article published in the academic or scientific journal PLoS Biology

November 21st of this year they reported on research of three professors at the

University of California in San Francisco that back in the 1960s the

sugar Research Foundation sponsored some scientific research to look into the

question what is the relationship between sugar consumption on the one

hand heart disease and bladder cancer on the other and when that research began

to suggest to scientists that there was a connection that would be important to

let everybody know about the sugar Research Foundation abruptly stopped the

research stopped the funding of the research and so in the intervening half

a century we have been kept in the dark about that

potentially crucial research obviously because it was not in the interest of

the sugar businesses to rescue us from what they were doing and making profits

it's another sign of the danger of putting the food production of our

society in the hands of companies whose first objective is profits not the

safety or nutritional value of what they produce my third update today has to do

this will come as a big surprise with President Donald Trump I know you

perhaps have already heard enough for more than enough about what he's doing

but this is something you may not have heard about you know in the past

politicians knew it was appropriate to keep a certain distance between

themselves as political office holders and business interests about making

money with mr. Trump the notion of keeping a distance has disappeared and

in a way that's very helpful because you can see what was kind of hidden before

nice and clearly presented to you so I'm gonna go through five recent business

activities that mr. Trump has been involved in because I think it's an

important part of understanding what the leadership of this country now involves

number one in New York City there is a Trump Soho Hotel in lower Manhattan it

is having a hard time it turns out that New Yorkers and people visiting New York

seem not to like to see the Trump name on the hotel and so they haven't been

going there occupancy rates are poor money is not being made and so a divorce

has been arranged between the Trump Organization and that hotel so that it

won't be the Trump Hotel anymore because that's the strategy of how to make this

hotel pay score one again mr. Trump's financial interest here's

another part of that story that hotel is partly a hotel and partly a set of

condominium apartments the condominium owners have together sued the Trump

Organization because they claim in order to buy those co-op apartments they were

given figures by the Trump Organization which inflated the amount of money being

spent and the number of these apartments that were being sold to create the

impression that there was a groundswell of demand for these choice pieces of

real estate turns out that those numbers weren't accurate at least that's the

claim of the condo owners living in the same building but now it gets juicier

let's turn to the following statistic which I have to admit when I first

encountered it was so overwhelmingly I did a double and triple check just to

make sure the numbers are right mr. Trump has been president for roughly 400

days as we produce this program listen to this on 100 days out of the 400 he's

been president he visited one or more of his own properties let me explain what

this means on a trip to some foreign country he makes stops along the way

not because he has business to do in terms of being the president it's

because he's got with him an army of press people who will take good pictures

of him at this hotel that golf course this hotel and golf course this is

publicity that would cost millions if it were paid for but it's on your dime and

my dime because he's traveling in the presidential jet if he did it once in a

blue moon you'd think it was kind of tasteless he did it 100

days out of the 400 he's been a president this is a systematic

self-promotion of his business interests in the month of November 2017 we have a

new business on the Internet it's called Trump store.com

it sells hats polos and other golf gear with the Trump name on it

I want to let that sink in and now the last one Republican Party groups have

decided it's a good idea to locate their events at the properties owned by the

president so the last one I heard of and so I decided to bring it to your

attention in early November of this year at

mar-a-lago in Florida the Republican attorneys general Association of the

United States had a dinner with their most important corporate donors it cost

one hundred and twenty five thousand dollars per person to attend this event

and it was for a weekend at mar-a-lago so all that money had to be paid to mr.

Trump who owns the facility this is a level of mixing politics and business

that goes beyond what we've had in the past I'll leave you to draw your own

conclusions. Before going on to the remaining updates, I want to remind you

we maintain two websites that I want to urge you to visit, and make use of.

rdwolff with two F's dot com and democracyatwork.info that's all one word

democracyatwork.info. There's a great deal of material that we load up

to these websites every day, it's there to enhance to elaborate to extend what

we do on this program it's available to you 24/7 no charge

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to partner with you in making the reach of all that we do even greater than it

would be if it was just us alone rather than in partnership with you for those

of you that are listening to this program if you would like to see the

televised version of the program please visit us at patreon.com that's patr

yo n patreon.com slash economic update for the television version of the

program returning to our economic updates I want to talk about what is for

me a personal tragedy because I live in New York City the tragedy I'm talking

about is the subway system this is a fundamental public service

millions of people rely upon this institution to get to and from work to

get to and from business jobs friends associates family members you name it

it's the way you move around a big city scattered across five big boroughs but

the subway system in this the largest city in America the city most visited by

folks from other parts of the world let me tell you about the conditions that

it's in first daily ridership 5.7 million people use the subways every day

that is double the number of people who used it 20 years ago in other words we

have an enormous increase in the need for the reliance on the social

importance of this mass transportation system

the percentage of weekday trains that reach their destinations on time 65%

that is the worst performance of any major transit system anywhere in the

world including other cities in the United States there are many

transportation subway systems around the world that have records in the high 90%

of on-time performance there is no excuse no necessity for this dereliction

of service to the public the amount of money that the MTA that's the authority

that funds the subways gave to the subways this year

is 250 million dollars in 1990 that's 27 years ago it gave the authority in

today's dollars 1 billion dollars let me make it clear to you we've doubled the

number of people that use the subway and we've reduced by 75% the amount of

actual purchasing power dollars we've given them so there's no mystery about

why the subways are late there's no mystery for those of you that are not

familiar with the New York subway system no mystery about the fact that there are

rats that it is dirty beyond all words that it is noisy that their bathrooms

are not you cannot even think about going in there they're locked anyway

because nobody does on and on and on what a travesty and it makes a mockery

of efficiency that word used to describe American capitalism

there's no efficiency here millions of hours of work time are lost by people

who are stuck on slow trains or don't get to work at all where's that

accounted for nowhere and here's the reason politicians don't spend the money

to maintain this subway and why not because if they maintain the subway

they'd have to get the money by raising taxes they dare not do it to the court

operations and the rich because they threaten to support politicians against

the ones who might do this politicians who won't do it so the politicians in

office are afraid to tax corporations and the rich and likewise they are

afraid to tax the mass of people who already spend too much money on the

subway ride who are already taxed beyond what they can care for and tolerate and

they are afraid of losing their votes so the way the politicians work in this

crazy system is by not taxing the money and therefore saving by not maintaining

the quality and the efficiency of the subway system they hope they can get

through four years on the Commission go on to a higher political office and let

the declining subway become the next politicians headache that's not a

problem of these individuals that's a problem of a system that works this way

this is a crazy way to function it isn't efficient it isn't appropriate it isn't

fair because obviously the people who are not paying the taxes are very

different from the people who have to rely on an unstable unsafe unsanitary

subway system every day of their working lives I turn next to Britain not because

I'm only interested in speaking to British people about their situation but

I'm doing it because Britain's reaction to the crisis of 2008 is rather close to

that of the United States imposing an austerity on the mass of people getting

a recovery in quotation marks mainly for the corporations and the rich and

letting it bypass the mass of people but focusing in the newspapers owned by

corporations and the rich on the recovery they are enjoying with the

little clever maneuver of suggesting everybody is enjoying it when it's not

the case the latest statistics from the Institute of Fiscal Studies which is the

Office of Budget Responsibility the leading official of the British

government indicates that household disposable incomes will fall for an

unprecedented 19 straight quarters between 2015 and 2020 in other words we

are now in the middle of the longest sustained decline in the household

income of the British working class in the history of the country that's what's

called a recovery that only benefits a few at the expense of the many this

makes it the worst decade in the performance of the British economy

according to the Bloomberg News Service on the 23rd of November it makes it the

worst performance decade in the British economy since 1812 when Napoleon invaded

Russia there's no way that you can do anything other than shake your head

about such a performance the last item I want to talk about is in a way profound

it has to do with Norway a very little country under 6 million actually 5.3

million people in other words the country of Norway is a much smaller

population than say the city of New York all by itself but the country of Norway

was lucky in a particular way and luck has an awful lot to do with the economic

story I'm about to tell you a couple of weeks ago Norway shook up the world

market in gas and oil why well to understand this you have to understand

that some decades ago oil was discovered in Norway and the ocean around Norway

good luck for Norway a lot of oil what Norway did understandably was

become rich wealthy grow with the revenue from all the oil but the revenue

was so enormous that the Norwegians understood like other countries in this

situation that eventually the oil would run out and if they made their entire

economic well-being dependent on oil when the oil went out so would their

economic well-being so here's what they did they established something called a

sovereign wealth fund what that is is money set aside in this case by the

country of Norway part of the revenue they got from the oil and gas they were

lucky enough to be sitting on wouldn't be spent for the ongoing functions of

government wouldn't be given to private enterprises would be run by the

government as a fund to be invested in companies around the world and to

generate their by a growing stream of income from a growing pot of wealth that

would sustain the people of Norway long after the oil and gas they had was used

up and that is now in excess of a trillion dollars worth of Norway's fund

so what shook up the world the decision of Norway to sell all of the stocks in

oil and gas companies that their sovereign wealth had invested in why

because they think the era of oil and gas is coming to an end they said so

they don't want to be invested in the shares of oil and gas company as the

world's use of oil and gas fades out and we shift to solar energy to wind energy

to all of the other forms of generating energy that are either going to be

cheaper or safer or both and the Norwegians even though their economy

still depends on oil we're smart enough and careful enough to know

if you pardon the pun which way the wind is blowing in terms of their investments

something that other investors in oil and gas everywhere in the world should

be thinking about something that half the states in the United States whose

incomes are dependent on oil and gas maybe ought to be thinking about that's

why it shook everybody up but here's what I want to talk to you about the

absurdity of this and this is not a critique of Norway they're doing what

this system makes reasonable to do and I hope you've understood that from my

description 5.3 million people are deciding through their government what

to do with trillions of dollars of wealth is that democratic they are a

tiny point one percent of the world but they owned over almost 2% of the world's

stocks of corporations because they happen to be located where there happens

to be oil this is a very strange way of using the resources of this planet it's

like a game of lottery you happen to get the oil under your country you can shape

how the world works for a hundred years and if you happen not to you lose no

wonder then the world is riven with conflict and tension and envy and

bitterness this is no way to use the resources of a planet it ought to have

been done in a democratic way with a sharing of resources across populations

so we're all in this together and not at each other with a kind of slavish

subordination to private property and the happenstance of geology and

geography what a way to organize a world economy everybody on your own everybody

preserving their little piece of the action their little profit no matter how

chaotic so a decision by 5.3 million people in Norway

we'll change the prices of oil and gas the energy we all rely on for 7 billion

people who are the dog and Norway is the tail who's wagging who here that is an

irrational way for capitalism to develop the world economy and that's the most

important part of this remarkable story from Norway we've come to the end of the

first half of economic update I hope you have found that these economic updates

shed some light on what is going on shed some light on where we're headed and

they represent an important kind of economic news unfortunately not reported

on in any way that could and should be the case for an informed public stay

with us we will be right back

you

For more infomation >> Economic Update: Which Way For US Economy - Duration: 28:24.

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Enchanting Potting Shed Which Fills With Jars Of Fresh Garden Flowers | Charming Small House Design - Duration: 2:02.

Enchanting Potting Shed Which Fills With Jars Of Fresh Garden Flowers

For more infomation >> Enchanting Potting Shed Which Fills With Jars Of Fresh Garden Flowers | Charming Small House Design - Duration: 2:02.

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This there are 5 markers of the user message which not know. - Duration: 4:05.

For more infomation >> This there are 5 markers of the user message which not know. - Duration: 4:05.

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Print the positive odd numbers which less than 300 and not divisible by 11 - Duration: 7:05.

Prints all positive integers less than 100 omitting those integers divisible by 7

Write a FORTRAN program which prints the YEAR and the AMOUNT of the account until 2000

Write a FORTRAN program to find all prime numbers less than 500

N is prime or N is not prime

Algorithm:Write an algorithm to find the sum of the following series and implement this into FORTRAN

Algorithm: Write a FORTRAN program, N is prime or nor

Algorithm: Write a Fortran Program to find the sum of the series

Algorithm: Write a FORTRAN program to print the positive odd numbers 100 and compute their sum

Algorithm: Write a FORTRAN program to print the positive odd numbers less then 100

Algorithm: Write a Fortan program to print the positive even numbers less then 100

Algorithm: Write an Fortran program to find the sum of the following series 1+3--+99

Algorithm: Write an Fortran program to find the sum of the following series 1+3--+99

Algorithm: Write a Fortran program to find the sum of the following series

Algorithm: Write an algorithm to find the sum of the following series and into Fortran Program

Control Statements: Write a fortran program to print 1,2,3,4,5,6,7,-------------,15 members

Control Statements: Write a Fortran program to find the sum of the following series

Control Statements: Write a program to print the numbers, are not divisible by 5 from 1 to 100

For more infomation >> Print the positive odd numbers which less than 300 and not divisible by 11 - Duration: 7:05.

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PESSIMIST or OPTIMIST Which One Are You? - Duration: 12:02.

hello my friends how are you it is Summer Jeronimo here

and we are in the kitchen and we are going to talk a little bit of business

tonight so while you are jumping on I'm just

going to pour myself a glass of this delicious require refreshment here so

here is what we are talking about

pessimist or optimist which one are you is the glass half full or is the glass

half empty we are talking all about it tonight because there is a study that I

recently heard that not only determines which side of the field you fall on but

it also determines how successful you will actually be in life your chances of

success so I certainly want to drink to your success and if you are just jumping

on go ahead and put where it is you are coming in from hey hey hurt how are you

what's up Jorge who else do we have go ahead and drop where you coming in

from and if you are watching this live my friends drop a hashtag alive if

you're watching the replay welcome replay viewers go ahead and drop

the hashtag a replay hey hey miss Sandra how are you Paulo the optimist I love it

Tampa Florida in the house great to see you hey hey Adriana guys this may not

only be a training for you but some food for thought

maybe for some people that you have in your life as well so feel free to share

if you look in the bottom left-hand corner right hand corner you're gonna

see a share button you can hit that and it will go out to your peeps or you can

tag some people in the comments section if you do put a share please drop a

share in the comments section so I can give you a shout out great just for you

Carrie what's up Paula how are you so my friends it's so great to see you all

thanks for hanging out with me on this beautiful evening

but Anu you're talking some serious business

Thank You mr. hurt I appreciate you sharing we are talking about a pessimist

or optimist which one are you is the glass half full or is it half empty it's

a little bit more than half anything right now

it up a little bit but it's interesting because how you view the different

situations that may come your way in life it really is gonna determine which

way you go whether you go up or whether you go down yeah I'm curious would you

say that this is a full glass or an empty glass depending on how you view

that I'm just curious go ahead and drop a full or empty in the comment section

depending on your point of view partially full partially empty so here's

the story I was recently listening to a an audio

track by Tony Robbins and he actually shared that there was a study on

optimist and pessimist and it was very very interesting because there's a

gentleman by the name of several men Freud and dr. Seidelman

he is well known throughout the world for his studies on optimism and what was

interesting is they found that in their studies they discovered that first of

all if you're an optimist you are generally full of life

bubblicious and you have a tendency to view things as well let's just say a

little bit better than they are anybody in that category if you are dropping oh

in the comments section now on the other hand pessimists are a little bit more

accurate what's up mr. Fryar great to see you pessimists are a little bit more

accurate so if somebody was to say you know how far did you go running today

they would be a little bit more on the dotted line what did your volume come in

last month it would be a little bit more accurate how much money do you have in

your bank account they would be a little bit more accurate so what do we want to

be the optimist or the accurate one food for thought right so what was

interesting is in this study out of everything that they covered they said

yes while the pessimists are while the optimist basically let's just say you

gotta be asses themselves right like they did

psych themselves up and they're just like yeah it's gonna be great yeah I'm

totally fucked yeah it's gonna be awesome

well the pessimist is like no I don't think that's going to happen you know

they're much more realistic maybe you know whether it comes to approaching

prospects maybe it's like this whether it comes to hey you know what I had this

person there on my list and they could be amazing or but I don't know I don't

think they're gonna join right how we view it really determines if we decide

to go for it so here's what was interesting in this

study that was done well the pessimist was we more accurate and the optimist

basically kind of BS themselves because the pessimist was so on like they they

kind of were very in tune with reality they had a tendency to go for things way

looks like they thought about the prospect but they said either process

probably gonna say no or they're already pre engage or whatever they they had

already all these things in their mind so they kind of just talked him out of

it right like they already had the logical conclusion that they already

know right and the optimist was like you know what I don't know maybe they'll say

yes maybe they won't by either way we're gonna have a good time right and stop

putting this on us I appreciate that thank you so you know what's funny is

then the optimist because they kind of BS themselves they have a tendency to go

for things much more often and it was interesting because while they were

accurate while they were not right while they were not like fully in tune with

everything because they went for it here's this check this out they had a

four to five times increase of succeeding in whatever they decided to

go for it in life whatever they decided to go for in life which is kind of crazy

so do you want those odds in your favor if you drew drop a yes in the comment

section I certainly do I think absolutely we

wanted to have those odds in our favor and here's what sometimes happens is we

get into a situation could be something at home could be something in business

could be something in our finest it could be something in a relation

right something life throws us a curveball and we weren't expecting it we

weren't thinking that's how it was gonna go and then what happens we have the

opportunity to decide hey what does this mean and what am I going to do about it

do you know what I'm talking about has life ever thrown you a curve ball if it

has drop a drop a little ball emoji baseball football whatever basketball

where calm ball you want in the comments section let me know let me look let me

see if you're with me okay and so here's the thing you said life

goes hey better bet abed minute and it throws you the curveball and then you

get to decide hey am I gonna step up to bat am I gonna take a swing am I gonna

go for it and I can actually do something about this scenario or am I

just gonna sit down am I just gonna say hey probably not probably not gonna hit

it anyways right so we have the opportunity to decide and the two

biggest things that determines really what we do with it is a are we a

pessimist are we an optimist but what does that thing mean to you like

whatever throws your way you go and approach your prospect and

doesn't go as expected what does that mean does that mean you're a total

failure and you've uh terally messed up and it's just terrible or does it mean

hey you know what I have the opportunity to learn here

what can I learn from this situation and depending on how we look at it we could

say hey you know what no matter what happens I either win a they sign up

right there they're all in there ready to go or I learn but either way I come

out ahead are you with me or we can just it's

never gonna happen I'm not gonna even get up and strike the ball so we have an

opportunity to sign but I think the most important thing is that you have to know

in the depths of your core in who you are as a person that your philosophy

about life your philosophy about you winning or losing your philosophy about

is the glass half full or is the glass half empty you can change it you can

decide you know Jim Rohn says you know if you want to move you can move you're

not a tree right like we have the power to change

we have the power to grow and the biggest thing that will affect us if you

are professional in network marketing is your resilience your resilience your

stick ability your ability to say you know what times can be tough times can

be great but no matter what I'm in it to win it okay I got something to show you

have you ever seen one of these for my pool this is a half inflated tube okay

and here's the thing about when you have one of these I don't know if you've ever

been in the water you have like 2030 people are all hanging out together it's

totally crazy people are pushing people in there's these in the water there's

floaties there's noodles are stuff flying everywhere you can try and push

this down push it under the water try and push someone underneath on it but

you know what's gonna happen no matter how hard you push no matter how much

strength you put no matter how many people you pile on top of it at some

point this thing is coming back up this thing is coming back up to the surface

and that is how you need to be my friend no matter what in life may try and throw

you down no matter what in like my training way you were or you know way on

your mind or your thoughts or your finances you gotta be resilient you

gotta be okay you know what I'm coming back on up to the top I am doing this

thing no matter what gets thrown my way I am doing this thing and here's where I

believe about you I believe that the seeds of greatness are inside of you I

believe that God has a plan and a purpose for your life I believe that the

best is yet to come for you my friend so I truly hope that you believe it as

well and if you are a person like myself that is a fellow network marketer and

your goal is to get to the finish line your goal is to get this thing done your

goal is to earn those bonus checks create that financial freedom have those

options in your life if that's you then put a that me in the comment section

because I got something specifically for you my friend I'm gonna drop a link here

once we finish up and this is to a special bonus training okay so secret

hidden bonus training and this is the 10 steps to finally rank

advanced if you've been at a spot in your life where every single month since

the beginning me or you're like I'm pushing I'm striving I'm aiming but we

haven't quite got to the finish line then this my friend is for you and so I

hope you click on the link that I'm gonna drop here you're gonna go ahead

enter your email and you're getting access to this special bonus training so

that is my free gift to you I've already heard so many different testimonies of

people that have gone through this training and they have seen results in

their business so that's what I want to see for you and you better promise me

that if you go out there you listen to the training you will apply it and you

start getting results I want to know okay don't leave a sister out here let

me know so guys it's been so great spending time with you what's up Carol

hello miss Tammy that's you that's right awesome hey hey miss Donna how are you

alright guys well it's been so great seeing you all take care be blessed if

this is something that added some value to you

chocolate comment let me know make my day please let me know about it and feel

free to tag and share this replay with your friends with your team and team

members and with the people that you care about in your life so until next

time my friends go out there live life to the full conquer your dreams and you

go get everything that God has in store for you take care and be blessed