Updates today on a judge's rare rebuke of cosy SEC relations with banks, on rising debt among the elderly, on American Airlines' bankruptcy to pay its workers less, on latest unemployment data, and on Yale University's tax exempt fund-raising. The major focus was on Bloomberg Market Magazine's expose on Federal Reserve's secret $7.77 trillion loans to major banks. Question answered explained how markets could be changed to rationally connect workers' self-directed enterprises minus the traditional profit motive and its wasteful costs.

On Economic Update with Professor Richard Wolff, Wolff and guests will discuss the current state of the economy, both locally and globally in relation to the economic crisis.We will focus on wages, jobs, taxes, and debts - and on interest rates, prices, and profits. We aim to explain why certain economic changes are happening and other changes get postponed

or blocked and we will explore alternative ways to organize enterprises, markets, and government policies. Economic Update is a weekly show for people who want to understand and change not only their own financial situation but also the larger economy we all depend on. 

 

To listen in live on Saturdays at noon, visit WBAI's Live Stream

 

Economic Update is in partnership with Truthout.org