On this week’s episode of Economic Update, Professor Wolff has a one-on-one discussion with Pulitzer Prize winner Chris Hedges, who draws on history, his years as a correspondent and NY Times Middle East Bureau Chief, and his current work on and in the Middle East. He explains why Israel attacked Iran and what the short and long-term prospects are for their war. He also devotes some of his analyses to examining Israel's genocidal policies toward Palestinians.

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This week’s episode of Economic Update features an analysis by Professor Wolff on:
1. How Trump seeks to address the problem of costly American wars and their impact on sharply rising budget deficits,
2. How the rising U.S. debt has led to the loss of the United States’ "AAA" credit rating,
3. How Trump’s response is to seek to slash government spending and raise money by imposing tariffs on the entire world,
4. How this backfires as other countries retaliate, hurting US exports and causing the dollar to lose its appeal as the world's safest currency,
5. How China's economic rise is more substantial than the U.S. measures aimed at stopping or slowing that rise,
6. How the declining U.S. empire undermines the U.S. capitalist economy by making it increasingly difficult for CEOs and other corporate leaders in the U.S., households, and the government to prevail over and dominate the U.S. economy and society.

The d@w Team Economic Update with Richard D. Wolff is a DemocracyatWork.info Inc. production. We make it a point to provide the show free of ads and rely on viewer support to continue doing so.

You can support our work by joining our Patreon community:

https://www.patreon.com/democracyatwork Or you can go to our website: https://www.democracyatwork.info/donate

Every donation counts and helps us provide a larger audience with the information they need to better understand the events around the world they can't get anywhere else.

We want to thank our devoted community of supporters who help make this show and others we produce possible each week.1:01

We kindly ask you to also support the work we do by encouraging others to subscribe to our YouTube channel and website: www.democracyatwork.info

On this week's show, Prof. Wolff presents updates on how capitalism gets in the way of fighting Covid-19, systemic racism and Covid-19, why Europe did not allow the mass unemployment imposed on the US, and Wells Fargo CEO's fake excuse for lack of diversity among bankers. In the second half of the show, Wolff explores why capitalism fears the modern state and how it controls that state.