@emmit127 Paul Krugman got the Nobel Prize in Economics. He has authored and coauthored 6 economic textbooks used in university course work. He has numerous academic books, he got his B.A. at Yale (summa cum laude), he got his PhD from MIT, and he is a professor at Princeton University. So, yes I'm joking.
@VassiliZaitsev12 Did you forget that he has absolutely no experience in the real world somehow and his Nobel was for something different? People with PhDs tend to do very stupid things when normal person would be doubting himself at every step see Scholes.
@mootant He got a Nobel for his work explaining patterns of international trade. I believe that your second assertion is accurate when you have a PhD people often doubt what you do is right. Look at Friedman he had a PhD and everyone also thought what he said was stupid. Really, it comes down to politics. If an academic proves anything no one will listen if they oppose his political belief. If God came down and voted for the other party would you stop going to church?
To be poli-sci sure: Liberalism = capitalist progressivism or centrism. Socialism = anti-capitalist social ownership. Too many pundits use liberalism & socialism interchangeably.
And critique/regulation of capitalism (privatized ownership and control of production & wealth) is *not* synonymous with anti-capitalists (left or right) who seek an alternative system altogether. The whole debate is misframed in government & taxes. (Some socialists, i.e. libertarian socialists, want zero government.)
I watched the whole interview Schiff did with these people. He went down there trying to have a civil debate with these people and they just proved their ignorance.
Accordingly, child labor laws, and 40 hour work weeks are anti free market. Free market has no laws about children working, or how many hours you work.
@VassiliZaitsev12 Yes. I don't see anything controversial about it. Ask your Chinese worker making computer/electronics/clothes/everything how he's doing.
that this guy west, jackson and fat al sharpton have found a way to shake down the White Man for so long in this country is pathetic and shows the debilitating effects of liberalism on a once great nation. They are simply clowns who belong on the corner shucking and jiving selling crack. What does this idiot have a degree in any way that he calls himself Doctor and how embarrassing must it be for Princeton grads to know he is a professor there. LMAO!!! LOL Patheic!!1
Schiff is talking about sound money and how the fed is manipulating the market with artificially low interest rates. The black guy is in a lower class so hes talking about workers conditions like working on the weekend because he comes from the working class and doesnt know anything about the market to begin with
@jaeknyc the "black guy" is an esteemed professor at princeton university and a civil rights activist. he grew up in a wealthy family. he knows an incredibly vast amount about the market, how it works, and it's ramifications on poorer people who do not benefit from the glorified free-market system. both Dr. West and Mr. Schiff have good things to say, don't assume that "the black guy" is simply poorer and does't know anything. that's just ignorant
There is no such thing as "social injustice." This is a socialist collectivist view brought about to punish groups of the population. Only individual have rights which require "justice"
@gunscarscigars Hayek said it the best, talking about justice/injustice doesn't do it. Large societies have to organize using price mechanism. Justice/injustice meter works for humans only in tiny societies anyone promoting it wants to destroy civilization.
@TankSwift whats interesting is that youre suggesting that anyone involved in the austrian school of economics possesses any modicum of theoretical sophistication. For god sake, they don't even use mathematics, statistics, or experimentation to support or disprove hypotheses
@ruralpsycedelia On the other hand of the spectrum you hav epeople who use lots of mathematics making totally arbitrary models and whining how reality is bad when it doesn't fit them, it has to be reality that's wrong like Krugman-like idiots saying that US didn't print enough.
@logan0178 It's not a strawman; it's concrete fact. In developed western countries like the UK and US, parliament or, I would assume, congress has supremacy. That's the law: there's no disputing it. In which case that part of the state has the final say in everything, including allowing money to win favours. And it therefore takes the blame for such an occurrence.
Large companies and banks will still be rich after they are 'blocked'. But why are they not blocked now?
@toshzpelta Do you know that Christianity is correct? The world around us reveals that G-d DOES exist, and the historical evidence reveals that Jesus Christ really did come to this earth and there is overwhelming evidence that Jesus Christ really did physically rise from the dead. Jesus is coming again and the signs of the end times that were foretold in the Bible are coming to pass.
Cornell West is one of these clowns who shouldn't be teaching at our universities. Of course the Free Markets ended Child Labor. The questions people aren't asking are; why would you hire children instead of adults, and why type of work is a child capable of doing? The latter question is more important than the former because the answer to it explains why there is no demand for children in the work force. Of course, you must also understand the Division of Labor to get the correct picture.
@TheManiacalSatanist6 From Dept of Labor website "[FDR] was... campaigning... [and] a... girl... pass[ed] him an envelope... Her note read, 'I wish you could do something to help us....We have been working in a sewing factory,... and up to a few months ago we were getting our minimum pay of $11 a week... Today the 200 of us girls have been cut down to $4 and $5 and $6 a week.' [FDR] replied 'Something has to be done about... child labor...long hours and starvation wages.'"
These shows always get people on to discuss something that can't be resolved in two minutes and then provide insufficient time and apologise that they have to cut it short. If they want to have this discussion why don't they provide a format that allows the necessary time?
@WalterLiddy Good point. I can think of two reasons off the top of my head. 1) Their current format usually leads to more arguing, drama, etc. which is better for ratings than a suitable format for discussion which you suggest. 2) The powers that be would prefer that these things don't get resolved and the viewers remain divided against one another instead of uniting under common sense solutions.
I get tired of libertarians attempting to explain history through ideals. The pure type of laissez-faire capitalism has never existed and never will exist. Capitalism is not that. Capitalism has ALWAYS involved government and one must FIRST look at history in order to understand it--not ideology.
@bachandl1 Of course we have never had "pure capitalism" and we have never had pure freedom either. Schiff knows this. He is simply pointing out that history has shown that the MORE government restricts and controls capitalism the worse off the economy becomes. This is not an ideology, but an honest assesment of the historical facts. Yes capitalism has always involved government, but when the government is LESS "involved" prosperity increases for all.
@thinkertank1 History has "shown" this? Perhaps a history based off an ideologically based interpretation. It's the same thing as an orthodox Marxist reducing all of history to class conflict and the means of production--sure they can "show" this, but it's not a reliable history. Equally unreliable is the claim that all economic problems, over the past two hundred years, have come from government intervention having nothing to do with private markets.
@bachandl1 That's far from being the point of libertarians... the point is limited government intervention IN THE MARKET produces better conditions, no one claims there ever was a system totally divorced from government, you're attacking a strawman.
@DREwestcoast I never said a biased and ideologically based interpretation of history was the point of libertarianism. I said I get tired of them basing history off of their preconceived belief in the glory and truth of the free unencumbered market. Capitalism is both a theory and a history. Libertarians often confuse the two.
Putting all the jibs and jabs aside, the elephant in the room is... after 80 years since the start of the Great Depression, there is no agreement on what caused nor fixed the Great Depression. Economics is not a science, it's a religion.
Schiff needs to learn to argue and not talk over people, especially if the other people are wrong. It seems like he needs a lot fewer yes-people surrounding him (who listen and agree with everything he says), because it appears that he only has the capacity to state facts, not make concessions and debate.
I fundamentally agree with him and I admire him for being a public figure that this ideological perspective can rally behind, but this was in no way a productive interview.
The amount of time is very limited in timed appearances. It depends on the setting. If it were a formal debate, it would be a lot different. Also, with the kind of viewers watching these channels (CNN), they can't digest anything they don't hear everyday. Someone like Schiff HAS to push his way through.
west is wrong strategically. i don't think mixing the market with gov't programs is an end in itself. schiff is wrong in suggesting that a free market *necesarily* makes everything better. it can and it can do the exact opposite. the name of the game is determined solely by the interests of those with the means of production, making the general well-being unstable.
the issue is that captialism does not equel "the market". it presupposes a certain institutional structure.
I can guarantee wall-street and the government are both to blame for this financial crisis.
Both are right, and both are wrong. I can tell you Schiff is more correct then West, in the sense that too much government control, in a capitalist, semi-democratic society, leads to the wealthy buying the government. It's like people don't realize that government IS the problem yet, it's like the message our fore fathers fought and died for was just completely forgotten by "most advanced generation yet"
@fuckifacation123 So true, the way these 'do-gooder' liberals keep alluding to a pre-18th century governemental feudalism is just completely disappointing.
@DREwestcoast Dude you could not be more right! I really do think that most liberals mean well, but the reason they have a bad taste in their mouths about free market is because the neo-con right wing has never actually been real free market in their policies so they have no good examples. End the Fed, reduce the federal power and regulation, and most of the things liberals complain about such as corporate monopolies and interventionist foreign policy would be corrected naturally.
West is a liberal propagandist who can just say something w/out any factual evidence behind them. I would wager that he's actually never read the Constitution. It's a capitalist versus welfare whore who wants his brethren to get more money. He's a clown and hack. The poor had more options to get out of poverty before Washington began regulating every facet of income.
Child labor laws are crap. They keep the poor in crappy schools, instead of working for their family or going out and getting an apprenticeship. A child at 14 is perfectly capable of learning to weld, or any number of trades. Hell a child now a days could learn computer programing from an apprenticeship, but no now you have to have paperwork saying the government deems you worthy of your job, through certifications, and degrees. The US has become so pathetic over the years.
@RonPaulCC2012 Peter Schiff is a complete lunatic. Anyone with a basic understanding of US history can see that. Child labor was ended by government intervention. It began under the FDR. The Supreme Court ruled one of these child labor laws unconstitutional. The Supreme Court was doing the bidding of big business. Condidions under the FDR Administration improved. There was a significant decrease in unemployment during his first term. Schiff is wrong. That's why he was blushing.
@USASecretHistory I don't think you get it. Why were children working in the first place? Because they had nothing else to do with their free time? Of course not. They had to work because otherwise they would starve. Government cannot change that, regardless of what laws they pass. Only capitalism can provide the increases to wealth and financial security needed.
@chronomitch From Dept of Labor website "While... [FDR] was in... campaigning... a young girl... pass[ed] him an envelope... Her note read, 'I wish you could do something to help us girls....We have been working in a sewing factory,... and up to a few months ago we were getting our minimum pay of $11 a week... Today the 200 of us girls have been cut down to $4 and $5 and $6 a week.' [FDR] replied 'Something has to be done about... child labor and long hours and starvation wages.'"
@chronomitch According to Human Rights Watch "Hundreds of thousands of children are employed as farmworkers in the United States, often working 10 or more hours a day. They are often exposed to dangerous pesticides, experience high rates of injury, and suffer fatalities at more than four times the rate of other working youth. Their long hours contribute to alarming drop-out rates. Government statistics show that one-third never finish high school." Thank God for capitalism.
@USASecretHistory And what exactly do you want the government to do about it? Passing a law condemning child labor won't stop the practice. Nor will it fix the conditions which caused children to need to work in the first place.
@chronomitch I don't have to want anything. The government already passed the National Industrial Recovery Act during the New Deal. It showed significant results in helping to end child labor.
@USASecretHistory Most of those farmworkers are Mexican and they will always be poor because they don't value education. Same with blacks. Mexicans and blacks only have themselves to blame for the state they are in. We've spent trillions fighting poverty since the sixties and it's really no use. A third-world mentality coupled with low-IQ ensures they will always poor. Bad family planning, lack of impulse control and propensity towards crime are other factors.
@tomthefunky I knew you would pull the race card. It's not enough for people like you to feel compassion for children who are being exploited. You have to find out what race they are. About 50% of white people in the South during slavery were illiterate. Do you believe that those people were to blame for their plight? Tell us.
@USASecretHistory Most white people today put off having children until they can afford them. Mexicans allow their children to be exploited. 70% of black children are born to unwed mothers. What's really troubling is that you refuse to look at the real problems facing the poor. Instead you want to deflect the issue because in your worldview, minorities are eternal victims, nothing is ever their own fault. White America is to be blamed for everything, everytime, regardless.
@usaf317 You are a dumbass. No wonder this country is in trouble. It's people like you who are lazy and don't read and just listen to nonsense who are partly responsible for the mess this country is in. Have you ever done any research? Have you ever looked at any statistics? I think not. You're one of these ignorant Americans who think with emotion rather than reason.
@usaf317 "And then the unions destroyed the businesses." 9:02. You probably believe this crap too. Actually the big corporations destroyed the unions. This country used to have a 33% union membership among its workforce. Today, it's something like 8%. The unions were destroyed through a concerted PR campaign that began in the 1950s that tarred unions with a negative brush.
@USASecretHistory unions are out of control just like big business!! the international unions are run by communists. i worked in union shop as did my father. i even held a union office. i have no issue with the concept of unions in private industry but there should be no public sector unions period!
The increase in productivity is the reason that children did not need to work. The reason children worked before industrialization was because of the fact of manual labor and this changed with the advent of productivity increases.
Less than 1% of the population now works in the fields and that is due to technology provided by the free market.
@RonPaulCC2012 What the hell is wrong with all you people and your obsession with central banking? Low interest rates just mean that banks have money, not what they will do with it.
people withh different perspectives need to come together to solve the problems we face today. I am a fan of both peter schiff and cornell west, and i would love to see a longer forum with them sippin on some cognac and coffee
Lmfao after hearing those wall streeters I think its quite ridiculous for them to use the rhetoric to increase taxes but they dont know how much others pay.
How is it that Peter gets his money from investments and pays 50% of his income in taxes when the capital gains tax is at 15%? see Mitt Romney. Also, why does it seem like Peter doesnt know the FED and the government are seperate entities? He starts off with confusion and misinformation so why trust anything he says after?
@YoungTon22 The FED is not altogether a seperate entity from the govt. However, it is not accountable to the Federal govt. or the American people. I am no economist, by any stretch, however, I know enough to know that the Federal Reserve is a bugaboo.
@YoungTon22 Because the government uses the Fed to back up its debt and over-spending. The government is responsible for the Fed because it voted in this illegal, unconstitutional Rothschild bank and refuses to audit it, create an alternative currency or just close it down. It's like you allowed a crackhouse in your garden.
@YoungTon22 1) His income (salary & commissions) are taxed at around 50%. Only his dividends are taxed at 15%. Since he owns a lot of gold stocks he will not collect much dividends because many gold stocks dont have dividends. So his overall tax rate is probably around 45% as he says 2) The Fed is technically private, Schiff knows this, but for all intents and purposes the Fed is a quasi-govt institution since it is involved heavily with govt and is allowed the exist thanks to the govt.
There is a very basic and central issue at work here. Optimistic liberals vs. Pessimistic capitalists. The foolish and obnoxious woman is a prime example of the naive liberal movement, riddled with individuals who wish to trust one group (government) and combat another (big business and strict capitalists). I still cannot understand this. How can liberals truly believe that by empowering government to act on their behalf, they will fix inequality? Inequality is an inherent part of the system
To say that the Crash of 2008 was caused by the government is disingenuous. The Federel Reserve is not a Government institution but a private institution and Peter Schiff knows that.
@deltarising But yet the board that operates it is appointed by our PRESIDENT....and it has the authority to request from the federal government orders of $ to operate our economy via banking institutions and to artificially depress interest rates...They are as much a government agency as the EPA or the FBI...to assume that Bernanke and Obama (and Bush) don't work together to formulate economic policy is disingenuous. Their existence as a seperate entity is an illusion.
anderson is a tool in the most literal way. and this cornell west has never read anything other than marx bullshit. I admire peter for wasting his time to debate these clowns. he has more character than I.
Peter Schiff: made it in the real world. "Brother West": made it in the comfy halls of Academia. Who do you think can speak to the business world with more authority???
@tripzero0 Nah, he'll never change. Just five minutes of watching the guy and you can see how many times he says "I,I,I,I,I,I." He's got too much of an ego and people like that never change no matter what their political affiliations may be.
@tripzero0 Sorry friend, I wouldn't agree. As a social anarchist I disagree with West and Schiff. I think West is more of a critical thinker and understands the social and global repercussions. I think Schiff is just another capitalist tool. Just my two cents....
@60SecondAssassin1 You don't think Shiff understands Capitalism? Giving yourself a label is presumptuous and meaningless. Social anarchy? What the hell is that? A bit of hedonism and self-importance in the fray?
@whiff1962 That was the most retarded comment I've ever read. Congratulations. Social anarchy is every branch of anarchism except "anarcho"-capitalism, which AFAQ and the anarchist community don't consider anarchy. Here's a fucking book...go read it.
@60SecondAssassin1 Lawlessless. Keep dreaming of your little utopia. I will stick to the U.S. Constitution and my right to private property and econcomic self-determination. Kids, sheesh!
@whiff1962 Yea...200 year documents work out all the time. That's why we needed implied powers and judicial review, right? Economic self-determination? That is the funniest thing I have ever heard.
@60SecondAssassin1 If by 200 year document, you mean the U.S. Constitution, then yes, this is a grand experiment in freedoms and personal liberty, like no other period in the history of human civilzation. Economic freedom, so it seems, is a deep mystery to you, however, such freedom, deeply implicative, is the cornerstone to our form of democracy. This idea of implied powers and judicial review is not contradictory to Constitutionalism, it is part of it. The U.S. Constitution does matter.
@whiff1962 Awesome experiment in freedom? That is hilarious, considering the US constitution defended slavery. Remember 3/5 of a person? Returning property (slaves) to their rightful owners. Were you aware only white, male landowners could vote in this country? Winning freedoms is an on going process and something we continually interpret and add to, not something inherit in the US constitution. Please give me an operational def. of economic freedom so I can explain why we do not have it.
@60SecondAssassin1 That is why I said "experiment". The bulwark of our freedoms and liberty are in this incredible document of the enlightened mind, and a turning away from despotisms.
The Bill of rights and the federalists, yes. In practice, states cannot take away those freedoms guaranteed under the Constition. However, the fed. govt. can easily deny citizens and states.
@60SecondAssassin1 It formed the basis for the exercise of judicial review in the United States under Article III of the Constitution. This can be read from Wikipedia. I think you arrogate more wisdom and knowledge than you might rightfully claim for yourself.
@whiff1962 "The power was established by John Marshall, Chief Justice of the Supreme Court from 1801 to 1835, in the case of Marbury v. Madison" - wikipedia. It isn't stated in Article III, but it is an implied power.
"I think you arrogate more wisdom and knowledge than you might rightfully claim for yourself." - Yea maybe, but I don't really see what this has to do with what we are discussing.
@60SecondAssassin1 I said part of constitutionality, not the Constitution. It (Marbury v Madison) formed the basis for the exercise of judicial review in the United States under Article III of the Constitution. This can be read from Wikipedia. I think you arrogate more wisdom and knowledge than you might rightfully be due.
implied power: Obamacare's mandate on the individual and intrusion into the free market, by compelling insurers and insured. The latter is/was a contractual agreement, before the state decided it was its business to get into my business (healthcare is a right?! What about the right to my person and to contract freely without govt. interference?) And where has been this judicial review with Obama mandating "free" contraception, against moral and relegious conscience? Anarchist or state worshiper?
@pretorious700 Marxism doesn't have the ammo it did, but Marxist economics is still alive and well on campuses globally. The Austrian school on the other hand? It's an academic joke and no economist talking about it could be taken seriously apart from Hayek when he was alive.
@SouthParkBear Is your argument that because colleges receive public money they don't have academic freedom or that they are some discredited? In addition to being a fallacy, that is just simply incorrect. Universities employ a diverse range of thinkers, from the right and the left. The reason the Austrian school isn't taken seriously is because their are a number of flaws inherent in it, such as the disregard for mathematics.
No dummy, they receive STATE ACCREDITATION-- but ONLY only if they support the government's claim and theory of sovereign national authority-- which is a complete LIE.
Sovereignty belongs to the PEOPLE OF THE INDIVIDUAL STATES, who simply DELEGATED it to the government via the Constitution... and they can UN-delegate it the same way.
But you won't find a single accredited school who teaches this obvious fact, because they want to STAY accredited.
@SouthParkBear Interesting claim, but where is the evidence? I've had numerous professors who were conservative or American "libertarian" (although none of them Austrian to be sure). Why was my school still accredited? Maybe because schools are accredited and receive money based on scholarly contributions. In short, if you sit on your ass and say "I'm a professor" of course you won't receive money because you don't contribute to knowledge.
@SouthParkBear "There's no question that schools are accredited by the state, it's plain fact." - and I never argued against this fact so where is this leading? "And if the STATE decides what constitutes "scholarly contributions," then that's a catch-22 right there stupid." - too bad the state doesn't decide. It is decided by professionals in the field. Your argument would be akin to saying evolution shouldn't be taught because it is accepted by the state....
@SouthParkBear "Did it hurt when you were dropped on your head, or did the brain-damage wipe out the memory too?" - do you understand what an ad hominem attack is? It discredits what you have to say because you pull emotions and personal attacks to try to discredit the opponent. We call it a "logical fallacy." You should really know this....
@60SecondAssassin1 The Austrians aren't math averse, they're model averse. They figure the economy can't fit into a laboratory and attempting to model it with mathematics is a fool's errand. To them, economics isn't a science but more of an art or philosophy.
I think I would agree with you that their fall from grace is not related to public funding, but rather that none of them get hired at central banks or big wall street firms because they don't play along with the game, among other reasons.
@SouthParkBear All professors are free to formulate their own argument, granted that they properly use the data available and do not twist it (like Austrian Prof. DiLorenzo has done numerous times in his "historical" writings). Perhaps the reason they lean towards the left is because the data easily supports leftist arguments typically? Regardless of the argument, they won't stop receiving public funds because it is too capitalistic or any such nonsense.
I actually thought they did a good job of being civil and trying to get their points across. I tend to agree with Schiff on these issues and the few times I've heard West he seemed like a typical "Ivy Professor". But, this was worth watching.
Classic case of person who has worked in the field telling you how it is versus arm-chair “expert” who unfortunately has young impressionable minds to warp with mistruths. I was a loan officer during the bubble and know firsthand that government interference in the requirements for subprime lenders caused the bubble and the bust. The FREE market self-regulated requirements like 80% of home value and proven disposable income for over a hundred years before that.
Everyone should watch the youtube video titled:
Peter Schiff Embarrasses Himself By Defaming Brilliant Economist Paul Krugman
VassiliZaitsev12 1 day ago
@VassiliZaitsev12
"Brilliant economist?" You're joking right?
emmit127 15 hours ago
@emmit127 Paul Krugman got the Nobel Prize in Economics. He has authored and coauthored 6 economic textbooks used in university course work. He has numerous academic books, he got his B.A. at Yale (summa cum laude), he got his PhD from MIT, and he is a professor at Princeton University. So, yes I'm joking.
VassiliZaitsev12 6 hours ago
@VassiliZaitsev12 Did you forget that he has absolutely no experience in the real world somehow and his Nobel was for something different? People with PhDs tend to do very stupid things when normal person would be doubting himself at every step see Scholes.
mootant 4 hours ago
@mootant He got a Nobel for his work explaining patterns of international trade. I believe that your second assertion is accurate when you have a PhD people often doubt what you do is right. Look at Friedman he had a PhD and everyone also thought what he said was stupid. Really, it comes down to politics. If an academic proves anything no one will listen if they oppose his political belief. If God came down and voted for the other party would you stop going to church?
VassiliZaitsev12 1 hour ago
@emmit127 Haha in money earned in real market himself he's not that brilliant.
mootant 4 hours ago
Peter Schiff shows how these people are collection of whining leeches...
russ1951 1 day ago
To be poli-sci sure: Liberalism = capitalist progressivism or centrism. Socialism = anti-capitalist social ownership. Too many pundits use liberalism & socialism interchangeably.
And critique/regulation of capitalism (privatized ownership and control of production & wealth) is *not* synonymous with anti-capitalists (left or right) who seek an alternative system altogether. The whole debate is misframed in government & taxes. (Some socialists, i.e. libertarian socialists, want zero government.)
BlackMath1977 1 day ago
I watched the whole interview Schiff did with these people. He went down there trying to have a civil debate with these people and they just proved their ignorance.
zanariot 1 day ago
LOL, this "professor" didn't even know how to respond. Like always, Schiff wiped the floor here.
herkfsu 1 day ago
Accordingly, child labor laws, and 40 hour work weeks are anti free market. Free market has no laws about children working, or how many hours you work.
VassiliZaitsev12 2 days ago
@VassiliZaitsev12 Yes. I don't see anything controversial about it. Ask your Chinese worker making computer/electronics/clothes/everything how he's doing.
mootant 4 hours ago
Man Peter Schiff got spanked in this debate.
VassiliZaitsev12 2 days ago
@VassiliZaitsev12 You're a retard, Schiff raped West.
itachi705 1 day ago
@itachi705 I guess the uneducated will always hear what they want to hear.
VassiliZaitsev12 1 day ago
@itachi705 /watch?v=fzDnCqqEzhY&context=C36d637aADOEgsToPDskKLOCahTHtzM3dMeRXGY1JM
VassiliZaitsev12 1 day ago
that this guy west, jackson and fat al sharpton have found a way to shake down the White Man for so long in this country is pathetic and shows the debilitating effects of liberalism on a once great nation. They are simply clowns who belong on the corner shucking and jiving selling crack. What does this idiot have a degree in any way that he calls himself Doctor and how embarrassing must it be for Princeton grads to know he is a professor there. LMAO!!! LOL Patheic!!1
xerakis 2 days ago
@xerakis ok Hitler
Bravesfan4500 2 days ago
@Bravesfan4500 lol, makes no sense....lmao.
xerakis 1 day ago
West, Is absolutely right.
toledoua 2 days ago
Schiff won that argument pretty easily.
retroillumination 3 days ago
Schiff is talking about sound money and how the fed is manipulating the market with artificially low interest rates. The black guy is in a lower class so hes talking about workers conditions like working on the weekend because he comes from the working class and doesnt know anything about the market to begin with
jaeknyc 3 days ago
@jaeknyc the "black guy" is an esteemed professor at princeton university and a civil rights activist. he grew up in a wealthy family. he knows an incredibly vast amount about the market, how it works, and it's ramifications on poorer people who do not benefit from the glorified free-market system. both Dr. West and Mr. Schiff have good things to say, don't assume that "the black guy" is simply poorer and does't know anything. that's just ignorant
fuzzwuzz29 3 days ago
@fuzzwuzz29 The black guy is a cretin and everything else doesn't matter.
mootant 4 hours ago
Hey Reason, They are both willing. Sponsor a real debate between these two and let them go at it for a couple of hours. I'd love it.
vipero00 4 days ago 2
@vipero00 There are videos of Schiff talking with Keynesians and other economists for around 1-1.5h.
mootant 4 hours ago
There is no such thing as "social injustice." This is a socialist collectivist view brought about to punish groups of the population. Only individual have rights which require "justice"
gunscarscigars 4 days ago
@gunscarscigars Hayek said it the best, talking about justice/injustice doesn't do it. Large societies have to organize using price mechanism. Justice/injustice meter works for humans only in tiny societies anyone promoting it wants to destroy civilization.
mootant 4 hours ago
Yeah Schiff pretty much outclasses that weird looking dude. lot of hot air that one.
MegaMixking 4 days ago
As much as I like West, he just isn't on Schiff's level.
Everything Schiff is saying is over West's head because he very very rarely debates with an actual austrian
TankSwift 4 days ago
@TankSwift whats interesting is that youre suggesting that anyone involved in the austrian school of economics possesses any modicum of theoretical sophistication. For god sake, they don't even use mathematics, statistics, or experimentation to support or disprove hypotheses
ruralpsycedelia 3 days ago
@ruralpsycedelia yeah sure and modern economists use the rational choice model which is worse than using anyone!!!!
sadol11 3 days ago
@ruralpsycedelia
I'm not "suggesting" anything outside of what is already is said that's shown in this video.
That would be you "insinuating", otherwise putting words in my mouth, a very basic statement as "West doesn't debate Austrians".
"they don't even use"
Who is this "they", be specific.
TankSwift 3 days ago
@ruralpsycedelia On the other hand of the spectrum you hav epeople who use lots of mathematics making totally arbitrary models and whining how reality is bad when it doesn't fit them, it has to be reality that's wrong like Krugman-like idiots saying that US didn't print enough.
mootant 4 hours ago
west is the man!
ichibanski8 4 days ago
I appreciate Anderson Cooper letting them talk
MILMAG1 5 days ago
Good debate!!
MrClipper23 6 days ago
@logan0178 It's not a strawman; it's concrete fact. In developed western countries like the UK and US, parliament or, I would assume, congress has supremacy. That's the law: there's no disputing it. In which case that part of the state has the final say in everything, including allowing money to win favours. And it therefore takes the blame for such an occurrence.
Large companies and banks will still be rich after they are 'blocked'. But why are they not blocked now?
ralliart2000 6 days ago
Cornell is a socialist...and we all know how that system failed time and again, this country included.
PrecisePuncher 1 week ago
well this isent akward at all....
kristian9010 1 week ago
Schiff is a moron...."it was the free market that ended child labor"? On what planet?
djangoph1le 1 week ago
6:38 produced the wealth? Hold on, the workers produce all the wealth....
23lFrench 1 week ago
LOl @ West trying to debate Schiff on the Depression...
toshzpelta 1 week ago
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@toshzpelta Do you know that Christianity is correct? The world around us reveals that G-d DOES exist, and the historical evidence reveals that Jesus Christ really did come to this earth and there is overwhelming evidence that Jesus Christ really did physically rise from the dead. Jesus is coming again and the signs of the end times that were foretold in the Bible are coming to pass.
marionetemanJ 1 week ago
Sorry, but Schiff is just wrong about the unions, hes trying to rewrite history there.
mcnesta80 1 week ago
Cornell West is one of these clowns who shouldn't be teaching at our universities. Of course the Free Markets ended Child Labor. The questions people aren't asking are; why would you hire children instead of adults, and why type of work is a child capable of doing? The latter question is more important than the former because the answer to it explains why there is no demand for children in the work force. Of course, you must also understand the Division of Labor to get the correct picture.
TheManiacalSatanist6 1 week ago
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@TheManiacalSatanist6 From Dept of Labor website "[FDR] was... campaigning... [and] a... girl... pass[ed] him an envelope... Her note read, 'I wish you could do something to help us....We have been working in a sewing factory,... and up to a few months ago we were getting our minimum pay of $11 a week... Today the 200 of us girls have been cut down to $4 and $5 and $6 a week.' [FDR] replied 'Something has to be done about... child labor...long hours and starvation wages.'"
USASecretHistory 1 week ago
These shows always get people on to discuss something that can't be resolved in two minutes and then provide insufficient time and apologise that they have to cut it short. If they want to have this discussion why don't they provide a format that allows the necessary time?
WalterLiddy 1 week ago
@WalterLiddy Good point. I can think of two reasons off the top of my head. 1) Their current format usually leads to more arguing, drama, etc. which is better for ratings than a suitable format for discussion which you suggest. 2) The powers that be would prefer that these things don't get resolved and the viewers remain divided against one another instead of uniting under common sense solutions.
LJPpro 1 week ago
I get tired of libertarians attempting to explain history through ideals. The pure type of laissez-faire capitalism has never existed and never will exist. Capitalism is not that. Capitalism has ALWAYS involved government and one must FIRST look at history in order to understand it--not ideology.
bachandl1 1 week ago
@bachandl1 Of course we have never had "pure capitalism" and we have never had pure freedom either. Schiff knows this. He is simply pointing out that history has shown that the MORE government restricts and controls capitalism the worse off the economy becomes. This is not an ideology, but an honest assesment of the historical facts. Yes capitalism has always involved government, but when the government is LESS "involved" prosperity increases for all.
thinkertank1 1 week ago
@thinkertank1 History has "shown" this? Perhaps a history based off an ideologically based interpretation. It's the same thing as an orthodox Marxist reducing all of history to class conflict and the means of production--sure they can "show" this, but it's not a reliable history. Equally unreliable is the claim that all economic problems, over the past two hundred years, have come from government intervention having nothing to do with private markets.
bachandl1 1 week ago
@bachandl1 That's far from being the point of libertarians... the point is limited government intervention IN THE MARKET produces better conditions, no one claims there ever was a system totally divorced from government, you're attacking a strawman.
DREwestcoast 1 week ago
@DREwestcoast I never said a biased and ideologically based interpretation of history was the point of libertarianism. I said I get tired of them basing history off of their preconceived belief in the glory and truth of the free unencumbered market. Capitalism is both a theory and a history. Libertarians often confuse the two.
bachandl1 1 week ago
Cornell got wiped all over the place
StonewallJackson26 2 weeks ago
West is so incredibly wrong
StonewallJackson26 2 weeks ago
the problem with child labor laws is they go to far one way...
Now a 10 year old can't even get a small job at a woodshop during the weekend or summer because that is "manipulating children"
thefakeyeti 2 weeks ago
Putting all the jibs and jabs aside, the elephant in the room is... after 80 years since the start of the Great Depression, there is no agreement on what caused nor fixed the Great Depression. Economics is not a science, it's a religion.
CluelessInChicago 2 weeks ago
Schiff needs to learn to argue and not talk over people, especially if the other people are wrong. It seems like he needs a lot fewer yes-people surrounding him (who listen and agree with everything he says), because it appears that he only has the capacity to state facts, not make concessions and debate.
I fundamentally agree with him and I admire him for being a public figure that this ideological perspective can rally behind, but this was in no way a productive interview.
kowalityjesus 2 weeks ago
@kowalityjesus
The amount of time is very limited in timed appearances. It depends on the setting. If it were a formal debate, it would be a lot different. Also, with the kind of viewers watching these channels (CNN), they can't digest anything they don't hear everyday. Someone like Schiff HAS to push his way through.
sdeevG 2 weeks ago
Cornell West got OWNED!
hawaiifunguy1001 2 weeks ago
west is wrong strategically. i don't think mixing the market with gov't programs is an end in itself. schiff is wrong in suggesting that a free market *necesarily* makes everything better. it can and it can do the exact opposite. the name of the game is determined solely by the interests of those with the means of production, making the general well-being unstable.
the issue is that captialism does not equel "the market". it presupposes a certain institutional structure.
fede2 2 weeks ago
I can guarantee wall-street and the government are both to blame for this financial crisis.
Both are right, and both are wrong. I can tell you Schiff is more correct then West, in the sense that too much government control, in a capitalist, semi-democratic society, leads to the wealthy buying the government. It's like people don't realize that government IS the problem yet, it's like the message our fore fathers fought and died for was just completely forgotten by "most advanced generation yet"
fuckifacation123 2 weeks ago
@fuckifacation123 So true, the way these 'do-gooder' liberals keep alluding to a pre-18th century governemental feudalism is just completely disappointing.
DREwestcoast 1 week ago
@DREwestcoast Dude you could not be more right! I really do think that most liberals mean well, but the reason they have a bad taste in their mouths about free market is because the neo-con right wing has never actually been real free market in their policies so they have no good examples. End the Fed, reduce the federal power and regulation, and most of the things liberals complain about such as corporate monopolies and interventionist foreign policy would be corrected naturally.
MattQB1990 1 week ago
West is a liberal propagandist who can just say something w/out any factual evidence behind them. I would wager that he's actually never read the Constitution. It's a capitalist versus welfare whore who wants his brethren to get more money. He's a clown and hack. The poor had more options to get out of poverty before Washington began regulating every facet of income.
brown55061 2 weeks ago 19
@brown55061 and he is teaching hundreds of students the same shit only to perpetuate false claims
capgains 1 week ago
Less Government = no power to bail companies out. THAT IS IT! That is NOT Capitalism!
Listen to Schiff
Ron Paul 2012
KazuyaDStrika 2 weeks ago 4
i agree with the rich guy ... i wish he would have offered me 1% status
sadistic143 2 weeks ago
@sadistic143 YouTube Peter Schiff, he really knows his stuff!
vinny1010 2 weeks ago 2
@vinny1010
"..knows his stuff" Lol. In the vast ocean of economics, you really think that he is a big fish?
jeb31415 2 weeks ago
@jeb31415 Re-read what I wrote.
vinny1010 2 weeks ago
@vinny1010
And shall I recite it rhythmically backwards over a boiling cauldron? Schiff could probably relate to that.
jeb31415 2 weeks ago
@sadistic143
I am sure he would offer that if he just met you.
jeb31415 2 weeks ago
Child labor laws are crap. They keep the poor in crappy schools, instead of working for their family or going out and getting an apprenticeship. A child at 14 is perfectly capable of learning to weld, or any number of trades. Hell a child now a days could learn computer programing from an apprenticeship, but no now you have to have paperwork saying the government deems you worthy of your job, through certifications, and degrees. The US has become so pathetic over the years.
asleeperj 2 weeks ago
West is just wrong. He has a lot to learn about financial history and The Fed (central banking)
RonPaulCC2012 2 weeks ago 11
@RonPaulCC2012 Peter Schiff is a complete lunatic. Anyone with a basic understanding of US history can see that. Child labor was ended by government intervention. It began under the FDR. The Supreme Court ruled one of these child labor laws unconstitutional. The Supreme Court was doing the bidding of big business. Condidions under the FDR Administration improved. There was a significant decrease in unemployment during his first term. Schiff is wrong. That's why he was blushing.
USASecretHistory 1 week ago
@USASecretHistory I don't think you get it. Why were children working in the first place? Because they had nothing else to do with their free time? Of course not. They had to work because otherwise they would starve. Government cannot change that, regardless of what laws they pass. Only capitalism can provide the increases to wealth and financial security needed.
chronomitch 1 week ago
@chronomitch From Dept of Labor website "While... [FDR] was in... campaigning... a young girl... pass[ed] him an envelope... Her note read, 'I wish you could do something to help us girls....We have been working in a sewing factory,... and up to a few months ago we were getting our minimum pay of $11 a week... Today the 200 of us girls have been cut down to $4 and $5 and $6 a week.' [FDR] replied 'Something has to be done about... child labor and long hours and starvation wages.'"
USASecretHistory 1 week ago
@chronomitch According to Human Rights Watch "Hundreds of thousands of children are employed as farmworkers in the United States, often working 10 or more hours a day. They are often exposed to dangerous pesticides, experience high rates of injury, and suffer fatalities at more than four times the rate of other working youth. Their long hours contribute to alarming drop-out rates. Government statistics show that one-third never finish high school." Thank God for capitalism.
USASecretHistory 1 week ago
@USASecretHistory And what exactly do you want the government to do about it? Passing a law condemning child labor won't stop the practice. Nor will it fix the conditions which caused children to need to work in the first place.
chronomitch 1 week ago
@chronomitch I don't have to want anything. The government already passed the National Industrial Recovery Act during the New Deal. It showed significant results in helping to end child labor.
USASecretHistory 1 week ago
@USASecretHistory Most of those farmworkers are Mexican and they will always be poor because they don't value education. Same with blacks. Mexicans and blacks only have themselves to blame for the state they are in. We've spent trillions fighting poverty since the sixties and it's really no use. A third-world mentality coupled with low-IQ ensures they will always poor. Bad family planning, lack of impulse control and propensity towards crime are other factors.
tomthefunky 1 week ago
@tomthefunky I knew you would pull the race card. It's not enough for people like you to feel compassion for children who are being exploited. You have to find out what race they are. About 50% of white people in the South during slavery were illiterate. Do you believe that those people were to blame for their plight? Tell us.
USASecretHistory 1 week ago
@USASecretHistory Most white people today put off having children until they can afford them. Mexicans allow their children to be exploited. 70% of black children are born to unwed mothers. What's really troubling is that you refuse to look at the real problems facing the poor. Instead you want to deflect the issue because in your worldview, minorities are eternal victims, nothing is ever their own fault. White America is to be blamed for everything, everytime, regardless.
tomthefunky 1 week ago
@USASecretHistory you are a nut case
usaf317 1 week ago
@usaf317 You are a dumbass. No wonder this country is in trouble. It's people like you who are lazy and don't read and just listen to nonsense who are partly responsible for the mess this country is in. Have you ever done any research? Have you ever looked at any statistics? I think not. You're one of these ignorant Americans who think with emotion rather than reason.
USASecretHistory 6 days ago
@usaf317 "And then the unions destroyed the businesses." 9:02. You probably believe this crap too. Actually the big corporations destroyed the unions. This country used to have a 33% union membership among its workforce. Today, it's something like 8%. The unions were destroyed through a concerted PR campaign that began in the 1950s that tarred unions with a negative brush.
USASecretHistory 6 days ago
@USASecretHistory unions are out of control just like big business!! the international unions are run by communists. i worked in union shop as did my father. i even held a union office. i have no issue with the concept of unions in private industry but there should be no public sector unions period!
usaf317 5 days ago
@usaf317 That doesn't make sense.
USASecretHistory 1 day ago
@USASecretHistory
Child labor laws did not get rid of child labor.
The increase in productivity is the reason that children did not need to work. The reason children worked before industrialization was because of the fact of manual labor and this changed with the advent of productivity increases.
Less than 1% of the population now works in the fields and that is due to technology provided by the free market.
bighands69 1 week ago
@RonPaulCC2012 What the hell is wrong with all you people and your obsession with central banking? Low interest rates just mean that banks have money, not what they will do with it.
Bellantoni 1 week ago
She has ZERO CLUE what she's talking about. Just hear 'bush tax cuts' pathetic!
RonPaulCC2012 2 weeks ago
people withh different perspectives need to come together to solve the problems we face today. I am a fan of both peter schiff and cornell west, and i would love to see a longer forum with them sippin on some cognac and coffee
etcjrwpolo1087 2 weeks ago
I like this, two nice guys with conflicting beliefs holding a nice debate. You don't see that on Bill O'Reilly or Sean Hannity.
baasseballl 2 weeks ago
I like this guy. Once he said the fed, I enjoyed the rest
ROXAS10000000000 2 weeks ago
Lmfao after hearing those wall streeters I think its quite ridiculous for them to use the rhetoric to increase taxes but they dont know how much others pay.
ROXAS10000000000 2 weeks ago
Cornhole has no reubuttal he needs to spend less time on his fro and more time learning economics
Zac6230 2 weeks ago
How is it that Peter gets his money from investments and pays 50% of his income in taxes when the capital gains tax is at 15%? see Mitt Romney. Also, why does it seem like Peter doesnt know the FED and the government are seperate entities? He starts off with confusion and misinformation so why trust anything he says after?
YoungTon22 2 weeks ago
@YoungTon22 The FED is not altogether a seperate entity from the govt. However, it is not accountable to the Federal govt. or the American people. I am no economist, by any stretch, however, I know enough to know that the Federal Reserve is a bugaboo.
whiff1962 2 weeks ago
@whiff1962 The federal reserve is privately owned. How is it not a seperate entity from the government?
YoungTon22 2 weeks ago
@YoungTon22 Because the government uses the Fed to back up its debt and over-spending. The government is responsible for the Fed because it voted in this illegal, unconstitutional Rothschild bank and refuses to audit it, create an alternative currency or just close it down. It's like you allowed a crackhouse in your garden.
americaisbacktrump 2 weeks ago 2
@americaisbacktrump entity= seperate or self-contained existence.
YoungTon22 2 weeks ago
@YoungTon22 1) His income (salary & commissions) are taxed at around 50%. Only his dividends are taxed at 15%. Since he owns a lot of gold stocks he will not collect much dividends because many gold stocks dont have dividends. So his overall tax rate is probably around 45% as he says 2) The Fed is technically private, Schiff knows this, but for all intents and purposes the Fed is a quasi-govt institution since it is involved heavily with govt and is allowed the exist thanks to the govt.
mason72518 1 week ago
@JUDALATION is a tool for the poor communist scum
IntoTheVoid96 2 weeks ago
There is a very basic and central issue at work here. Optimistic liberals vs. Pessimistic capitalists. The foolish and obnoxious woman is a prime example of the naive liberal movement, riddled with individuals who wish to trust one group (government) and combat another (big business and strict capitalists). I still cannot understand this. How can liberals truly believe that by empowering government to act on their behalf, they will fix inequality? Inequality is an inherent part of the system
jiventurkey718 2 weeks ago in playlist Cornel West
PETER IS A TOOL FOR THE RICH ELITE!
JUDALATION 2 weeks ago
To say that the Crash of 2008 was caused by the government is disingenuous. The Federel Reserve is not a Government institution but a private institution and Peter Schiff knows that.
deltarising 2 weeks ago
@deltarising But yet the board that operates it is appointed by our PRESIDENT....and it has the authority to request from the federal government orders of $ to operate our economy via banking institutions and to artificially depress interest rates...They are as much a government agency as the EPA or the FBI...to assume that Bernanke and Obama (and Bush) don't work together to formulate economic policy is disingenuous. Their existence as a seperate entity is an illusion.
jiventurkey718 2 weeks ago
anderson is a tool in the most literal way. and this cornell west has never read anything other than marx bullshit. I admire peter for wasting his time to debate these clowns. he has more character than I.
HanStanwell 2 weeks ago
I think the gov't had a little too MUCH cognac.
GetItRight4aChange 2 weeks ago
Why can't I just have some nanomachines? I won't need money anymore then, I guess that's why.
Donatellangelo 2 weeks ago
Peter Schiff: made it in the real world. "Brother West": made it in the comfy halls of Academia. Who do you think can speak to the business world with more authority???
steelz78 2 weeks ago
Did Anderson Cooper have them both on again yet? link me please if you find the video
Decentralism 2 weeks ago
This is a great video.
Decentralism 2 weeks ago
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joshua1auhsoj 2 weeks ago
Cornell west is a fool. He'd better read some Thomas Sowell or Walter Williams to open up his mind.
AlanCom1 2 weeks ago 2
@AlanCom1 nah bro
TheWiggie22 2 weeks ago
@TheWiggie22 ye bro
timemastro1 2 weeks ago
@timemastro1
naw bro
lopytube 2 weeks ago
@AlanCom1 Peter Schiff is a fool. He'd better read some Pierre-Joseph Proudhon or Thomas Hodgskin to open up his mind.
60SecondAssassin1 2 weeks ago
@60SecondAssassin1 I'm sure if Peter Schiff read some Karl Marx he'd change his capitalist ways... right?
tripzero0 2 weeks ago
@tripzero0 Nah, he'll never change. Just five minutes of watching the guy and you can see how many times he says "I,I,I,I,I,I." He's got too much of an ego and people like that never change no matter what their political affiliations may be.
60SecondAssassin1 2 weeks ago
@60SecondAssassin1 i think Peter is right anyway and it's taken a lot of personal change and education for me to come to that conclusion.
tripzero0 2 weeks ago
@tripzero0 Sorry friend, I wouldn't agree. As a social anarchist I disagree with West and Schiff. I think West is more of a critical thinker and understands the social and global repercussions. I think Schiff is just another capitalist tool. Just my two cents....
60SecondAssassin1 2 weeks ago
@60SecondAssassin1 social anarchist? naive little kids
Zac6230 2 weeks ago
@Zac6230 You're an idiot. Social anarchy is every branch of anarchism from collectivist to individualist.
60SecondAssassin1 2 weeks ago
@60SecondAssassin1 oh fuck off you deluded radical
Zac6230 2 weeks ago
@Zac6230 No thanks.
60SecondAssassin1 2 weeks ago
@60SecondAssassin1 immature keyboard commando
Zac6230 2 weeks ago
@Zac6230 Hey thanks. I love being a commando.
60SecondAssassin1 2 weeks ago
@60SecondAssassin1 You don't think Shiff understands Capitalism? Giving yourself a label is presumptuous and meaningless. Social anarchy? What the hell is that? A bit of hedonism and self-importance in the fray?
whiff1962 2 weeks ago
@whiff1962 That was the most retarded comment I've ever read. Congratulations. Social anarchy is every branch of anarchism except "anarcho"-capitalism, which AFAQ and the anarchist community don't consider anarchy. Here's a fucking book...go read it.
60SecondAssassin1 2 weeks ago
@60SecondAssassin1 Lawlessless. Keep dreaming of your little utopia. I will stick to the U.S. Constitution and my right to private property and econcomic self-determination. Kids, sheesh!
whiff1962 2 weeks ago
@whiff1962 Yea...200 year documents work out all the time. That's why we needed implied powers and judicial review, right? Economic self-determination? That is the funniest thing I have ever heard.
60SecondAssassin1 2 weeks ago
@60SecondAssassin1 If by 200 year document, you mean the U.S. Constitution, then yes, this is a grand experiment in freedoms and personal liberty, like no other period in the history of human civilzation. Economic freedom, so it seems, is a deep mystery to you, however, such freedom, deeply implicative, is the cornerstone to our form of democracy. This idea of implied powers and judicial review is not contradictory to Constitutionalism, it is part of it. The U.S. Constitution does matter.
whiff1962 2 weeks ago
@whiff1962 Awesome experiment in freedom? That is hilarious, considering the US constitution defended slavery. Remember 3/5 of a person? Returning property (slaves) to their rightful owners. Were you aware only white, male landowners could vote in this country? Winning freedoms is an on going process and something we continually interpret and add to, not something inherit in the US constitution. Please give me an operational def. of economic freedom so I can explain why we do not have it.
60SecondAssassin1 2 weeks ago
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whiff1962 2 weeks ago
@60SecondAssassin1 That is why I said "experiment". The bulwark of our freedoms and liberty are in this incredible document of the enlightened mind, and a turning away from despotisms.
whiff1962 2 weeks ago
@whiff1962 Also, the Bill of Rights originally only applied to the federal gov. In theory, any state could take away your freedoms.
60SecondAssassin1 2 weeks ago
The Bill of rights and the federalists, yes. In practice, states cannot take away those freedoms guaranteed under the Constition. However, the fed. govt. can easily deny citizens and states.
whiff1962 2 weeks ago
@whiff1962 ...and no judicial review is nowhere in the Constitution. It was founded in Marbury v. Madison in 1803.
60SecondAssassin1 2 weeks ago
@60SecondAssassin1 It formed the basis for the exercise of judicial review in the United States under Article III of the Constitution. This can be read from Wikipedia. I think you arrogate more wisdom and knowledge than you might rightfully claim for yourself.
whiff1962 2 weeks ago
@whiff1962 "The power was established by John Marshall, Chief Justice of the Supreme Court from 1801 to 1835, in the case of Marbury v. Madison" - wikipedia. It isn't stated in Article III, but it is an implied power.
"I think you arrogate more wisdom and knowledge than you might rightfully claim for yourself." - Yea maybe, but I don't really see what this has to do with what we are discussing.
60SecondAssassin1 2 weeks ago
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whiff1962 2 weeks ago
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@60SecondAssassin1 I said part of constitutionality, not the Constitution. It (Marbury v Madison) formed the basis for the exercise of judicial review in the United States under Article III of the Constitution. This can be read from Wikipedia. I think you arrogate more wisdom and knowledge than you might rightfully be due.
whiff1962 2 weeks ago
implied power: Obamacare's mandate on the individual and intrusion into the free market, by compelling insurers and insured. The latter is/was a contractual agreement, before the state decided it was its business to get into my business (healthcare is a right?! What about the right to my person and to contract freely without govt. interference?) And where has been this judicial review with Obama mandating "free" contraception, against moral and relegious conscience? Anarchist or state worshiper?
whiff1962 2 weeks ago
In a battle of economic knowledge, Cornell West has no ammo.
pretorious700 2 weeks ago
@pretorious700 Marxism doesn't have the ammo it did, but Marxist economics is still alive and well on campuses globally. The Austrian school on the other hand? It's an academic joke and no economist talking about it could be taken seriously apart from Hayek when he was alive.
60SecondAssassin1 2 weeks ago
@60SecondAssassin1
FYI, colleges are government-shills because they are accredited by the state, and know which side their bread is buttered on.
The state gives them elite power and status, and they give it validation and legitimacy.
In a free society, all education would be privately accredited-- just like all banks would be privately insured.
SouthParkBear 2 weeks ago
@SouthParkBear Is your argument that because colleges receive public money they don't have academic freedom or that they are some discredited? In addition to being a fallacy, that is just simply incorrect. Universities employ a diverse range of thinkers, from the right and the left. The reason the Austrian school isn't taken seriously is because their are a number of flaws inherent in it, such as the disregard for mathematics.
60SecondAssassin1 2 weeks ago
@60SecondAssassin1
No dummy, they receive STATE ACCREDITATION-- but ONLY only if they support the government's claim and theory of sovereign national authority-- which is a complete LIE.
Sovereignty belongs to the PEOPLE OF THE INDIVIDUAL STATES, who simply DELEGATED it to the government via the Constitution... and they can UN-delegate it the same way.
But you won't find a single accredited school who teaches this obvious fact, because they want to STAY accredited.
SouthParkBear 2 weeks ago
@SouthParkBear Interesting claim, but where is the evidence? I've had numerous professors who were conservative or American "libertarian" (although none of them Austrian to be sure). Why was my school still accredited? Maybe because schools are accredited and receive money based on scholarly contributions. In short, if you sit on your ass and say "I'm a professor" of course you won't receive money because you don't contribute to knowledge.
60SecondAssassin1 2 weeks ago
@60SecondAssassin1
There's no question that schools are accredited by the state, it's plain fact.
And if the STATE decides what constitutes "scholarly contributions," then that's a catch-22 right there stupid.
Did it hurt when you were dropped on your head, or did the brain-damage wipe out the memory too?
SouthParkBear 2 weeks ago
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@SouthParkBear "There's no question that schools are accredited by the state, it's plain fact." - and I never argued against this fact so where is this leading? "And if the STATE decides what constitutes "scholarly contributions," then that's a catch-22 right there stupid." - too bad the state doesn't decide. It is decided by professionals in the field. Your argument would be akin to saying evolution shouldn't be taught because it is accepted by the state....
60SecondAssassin1 2 weeks ago
@SouthParkBear "Did it hurt when you were dropped on your head, or did the brain-damage wipe out the memory too?" - do you understand what an ad hominem attack is? It discredits what you have to say because you pull emotions and personal attacks to try to discredit the opponent. We call it a "logical fallacy." You should really know this....
60SecondAssassin1 2 weeks ago
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SouthParkBear 2 weeks ago
@60SecondAssassin1 "It discredits what you have to say because you pull emotions and personal attacks to try to discredit the opponent. "
No it doesn't. It stands entirely separate from my argument.
Don't quit your day-job to teach logic.
SouthParkBear 2 weeks ago
@60SecondAssassin1 The Austrians aren't math averse, they're model averse. They figure the economy can't fit into a laboratory and attempting to model it with mathematics is a fool's errand. To them, economics isn't a science but more of an art or philosophy.
I think I would agree with you that their fall from grace is not related to public funding, but rather that none of them get hired at central banks or big wall street firms because they don't play along with the game, among other reasons.
reefpirate 2 weeks ago
@SouthParkBear All professors are free to formulate their own argument, granted that they properly use the data available and do not twist it (like Austrian Prof. DiLorenzo has done numerous times in his "historical" writings). Perhaps the reason they lean towards the left is because the data easily supports leftist arguments typically? Regardless of the argument, they won't stop receiving public funds because it is too capitalistic or any such nonsense.
60SecondAssassin1 2 weeks ago
@pretorious700
Cornhole Pest looks like a fucking hippie lunatic.
SouthParkBear 2 weeks ago
@pretorious700 and no brains
Zac6230 2 weeks ago
West got owned on the 1920's
MikeBruTube 3 weeks ago
@MikeBruTube
And he's stuck in the 60's.
SouthParkBear 3 weeks ago
I actually thought they did a good job of being civil and trying to get their points across. I tend to agree with Schiff on these issues and the few times I've heard West he seemed like a typical "Ivy Professor". But, this was worth watching.
bynumjimmy 3 weeks ago
West’s rebuttal “no,no,no,no”
Classic case of person who has worked in the field telling you how it is versus arm-chair “expert” who unfortunately has young impressionable minds to warp with mistruths. I was a loan officer during the bubble and know firsthand that government interference in the requirements for subprime lenders caused the bubble and the bust. The FREE market self-regulated requirements like 80% of home value and proven disposable income for over a hundred years before that.
kuhioffxi 3 weeks ago 2