Ben Stein on the Economy: It's Not as Bad as You Think

[bello770]

Scammed by Big corporate Thief’s once again!!! Everything's Propaganda!

[ISRAEL2017]

His Intelligence is so sexy!!

[Frankenpalin]

"we have not yet figured out how to cure the business cycle"

how does sound banking and market driven interest rates sound, shit for brains ?

[Wonglow]

.Mind u all he would need to do is push for open borders and Social Programs To be loved by MSNBC and CNN , as thats the primary difference between Neo Cons and Democrats ..Neo Cons TALK about being Anti Social Programs for people who won't work . Neo cons also TALK about being anti open borders and TALK about being strong on border security. When in office They don't actually attempt to shut down bloated Social programs that are going bankrupt nor enforce Immigration laws tho haha.

[cricketttv]

if we a are richer than Japan why do we have to borrow money from them Ben, you ass.

[howierobbery]

how can this guy go back to work in the morning?

[Wonglow]

@howierobbery He says what the producers /casting directors , advertisement execs .. Ceo's and owners of  the Networks want people to hear. He is a pro Israel , Pro Federal Reserve , Pro Foreign intervention , Pro Big Government (Look past the bones he throws to "Fiscal conservatism" ) Neo Con. Fox is owned and operated by a pro Israel Neo Con . Ben will get as much airtime on Fox as he pleases indefinitely

[bonfirejovi]

i don't what his bigger... his nose, his ears or his lies!

[Heart4God100]

He is right. The economy is not as bad as we think. God is in control of America and the media is trying to make you think that we are in huge trouble

[azkeyz]

Well , he said nuclear war , well i think he's not understanding that iran and the united states WILL go to war.

it's not debateable , it's not nigotiable.

War with iran is iminant because america will not tolerate the euro much less our own pagan dollar.

[mike03858]

I think there is a confluence of many qualitative weaknesses in our economy and in many of our characters that stands to make the next decade very painful for our country and for the world at large. We're in for a long strange trip...

[2sedated]

this video CONFIRMS that ben is an ultra idiot.

[Wonglow]

@2sedated Stein isn't actually an idiot. He / Krouthammer / Greenspan / Ben Bernanke  / Rupert Murdoch are all highly intelligent . Its just that they want to push certain Ideals on people to garner various effects that suit their positions and generate profits for themselves. They use their influence to perpetuate their agendas and ideals. Granted Their Ideals are detrimental to any nation they might happen to inhabit but thats par for their kind . No conspiracy its their nature.

[Frankenpalin]

@Wonglow Charles Krauthammer , Alan Greenspan, Ben Bernanke, Rupert Murdoch.

I'll take "4 guys I'd like to see covered in scorpions" for $300 please, Alex .

[JackPlatt]

I think he would change some positions now, considering the timing of this speech.

[DorianGrayism]

Stein is a great example of flip flopper. Says one thing and then another show he will say the complete opposite. He really doesn't know what he is talking about.

[bencooper123456]

Before I saw this video, I thought of Ben Stein as a reliable economic information source. As of now, however, I think of him as one of the most UNreliable economic information sources. He stated that "it is not really as terrible as it seems". I bet he looks back at this and asks himself: how could I have been such an idiot?

[jclemens1970]

Bueller, Bueller, Bueller, Bueller

Hey Stein,, go away!

[Fallinldols]

not even watching this video and just looking at the title...... Its worse. Ben stein is an inside job.

[caltrop69]

How fun...He left us evidence of how wrong he was.

[clevebrowns3]

Did I just hear him say "we aren't going to have a real problem with inflation." The United States is going to have to pay a trillion dollars a year just on the interest of the debt. So why shouldn't we worry about inflation? Its very conceivable that we could face hyper inflation in the near future.

[311Transistor311]

Stein called the subprime mortgage issue "T I N Y" on fox news, august 18, 2007...he's not a financial prophet, he's an idiot.

[mymtdrm]

WE realy need to overthrow our goverment. Most of them are betraiding Americans. It is becomming worse than Soviet Union was.

[batflies]

Scum, and fugly.

[LaMontagne1982]

wrong again

[JohnnyPyro66]

All I heard was him sucking on his candy. Jesus Christ.

[cyberdaemon]

He didnt talk about jesus christ and the topic wasnt about intelligent design , so forget about these two when listening to this video.

[caltrop69]

I was thinking those were dentures.

[Auszie]

Well of course the economy is just perfect FOR JEWS BECAUSE THEY HAVE ALL OF THE MONEY!!! God this guy is an IDIOT! By the way, God warned us about YOU PEOPLE CLAIMING TO BE JEWS BUT DO LIE! WE KNOW YOU ARE A ZIONIST NEW WORLD ORDER SCUMBAG WITH SACKS OF CASH, SO SHUT UP AND GET OUT BEN STEIN, WE DO NOT WANT YOU ANYMORE! LEAVE THE CASH THOUGH...

[spongebobnl]

this guy is dumb....

mentioning the poor just half a second and thinking they will be alright aslong as the elites get to keep their bmw's.

people are in a sick state, and i like to call this sickness : money.

recourse based economy plz.

[AirJuvi43]

I really like Ben Stein. However I have to disagree about the length of unemployment. I hold a masters degree and have an excellent work history. I have been out of work for over 7 months. Two of my friends have been out of work for 9 months and I know many others that have been unemployed for well over 6 weeks..

[bhawks22]

This was early in 2008. At the time of his speech that was still probably true. He was wrong about the severity of the downturn. But he was going off of history. We are in uncharted waters here. The problem is the Government is hindering our ability for a recovery and the American people just don't seem to realize this.

[NJRocks281]

unemployment is not a way to judge a recession. Unemployment is always the last to get back on track.

[JBBlitz]

Ben Stein is right about this issue

[cgpnz]

He also exemplifies what I would like to term 'm0r0ns' with

two zeros. A so labeled best of class intellect who cannot

think, or is too deep into the financial ideology that he

cannot see the self-evident replacement of the worker

for overseas slaves and not foresee the longer term

consequences of that. Oh the despicable delusion about creative destruction. Whose who preached that should be held to account.

[intellectual11]

The economy wasn't as bad as we were told. The media has been telling us that the economy was terrible ever since Pres. Bush was elected, even though we had virtually no unemployment. They said it because Bush is a Republican. They kept lieing about the economy so they could get Obama elected. The downturn in the economy was simply a result of media propoganda. The public started beliving them and once things started moving it fed on itself. You lie to them enough they start to believe it.

[prodigyjar]

No, they kept trying to say it was "fine" and then it just couldn't be hid anymore.

Remember hte bailouts?

Do you know what debt is, the bush admin left us with quite a bit. Biggest ever. These things matter.

Now, we had no money, in debt... so we've borrowed and printed more money, for these bailouts etc. Money out of thin air. Money supply goes up, so does inflation, and possible deflationary spiral etc etc. Very bad.

[edschaeffer]

You're an idiot. Find out what credit default swaps mean. Find out about the trillion dollars of subprime damage that Stein only says is $100 billion. Find out that we still got another trillion and half of damage to go. watch?v=iUuROWEMjm0

[Heart4God100]

@intellectual11 yes i agree the media is just trying to scare us

[cgpnz]

He exemplifies why USA is screwed. A total disconnect

with actual physical economy. What do americans do

to earn a living? What economic activities brought the

nation out of recent downturns and are these activities

going to continue.

In a nutshell globalisation is the exporting of physical

economy to slave workers. In the near term (20 years) this has brought fabulous wealth. The substitute activity of house building has stopped dead. Thus the economy has suffered an immediate collapse.

[edschaeffer]

When he spoke Dow 12,260. Thanks for forgetting to mention that little thing called credit derivatives you moron!

[AldoRama69]

Ben Stein your a f'in idiot!! Your are always wrong!!

[CastorThePorcupine]

the market is like a funhouse mirror, it shows reality in a distorted view, the market will go up, and it will go down again, for every boom there is a bust!

[Izakokomarixyz]

Ben Stein, you FAIL

[AetherMichael]

Okay, This video was posted February 2008, Wonder what he is saying now in April 2009. Cause it is really bad now. Wonder if he made a newer video on this topic?

[mytinu]

Why are people listening to this moron anyway? Or is this sarcastic and nobody gets it?

[MastroCicio]

are you mentally ill?

[Cockknocker99]

Moron??? Please tell my you're joking. This guy is brilliant. Don't be such a liberal that you can't even think about realistic shit.

[fuzzywzhe]

@Cockknocker99 Yes, he is a moron, and I'm a true actual conservative saying this. You are an idiot.

.

You believe in this moron, follow his financial advice. He's full of shit, he has no clue what he's talking about and you'd know this if you actually listening to any of these fucking moron talking heads that have no fucking clue.

[riverlioness]

The market fluctuates.

[Cockknocker99]

LOLOLOL Good argument.

[stringcheese9]

Ben Stein's advice is tracked. Anyone who invests based on it is near-broke or broke.

He should stick to acting.

[sncreley]

wow foratv. You are dirty fearmongers.

[Aaberg123]

Go watch Expelled. It's a great spoof on the concept of doctumentaries. Remember to get the lie-correcting subtiles :D

[zpenacho]

Give him a break, the economy is incredibly complicated and predicting the future is even more so. He still made valuable and educated points. The financial crisis right now is unlike anything we have ever seen completely. Economists work of historical data to predict future events. Hard to predict what has never been seen before.

[lorcangarrett]

he can't even get what hes supposed to be an expert in right so how can he lecture scientists!?!!?!

[numnunums]

lol Ben Stein-Wrong about everything

[homesrustosave]

We Can Help You Save Your Home From Foreclosure Go To homesaver(DOT)tk

[thecellarlife]

he's right about the enormity of the situation. it has been blown out of proportion, but that does not mean that it's not a problem. he's not acknowledging the fact that the main problem with our current situation (or what it would be when he said this) is that the poorest people in this country will suffer while everyone making over 75,000 a year will feel it a few months later, 200,000 a few months later and so on. this will effect everyone, but the poor suffer the worst and the longest.

[bvwatcher]

Nice call Stein.

[AmusedChild]

Geez, Ben, you don't think the "Darwinists" are going to sink the market the way that "they" are going to turn us into another Nazi Germany/Soviet Union? (No simple task, since those two countries were at war with each other!) What an idiot! Yes, my job was just reduced in hours/benefits, and yet I can handle it financially, and the economy is just fine for me - because I didn't take Stein's advice!

[BlackAcid1313]

Fuck this guy. He should be hosting a shitty game show on a station no one watches, not talking about the economy.

[CosmoHunter24]

LOL. What a joke. You should see him on Fox News w/ Cavuto begging for a HUGE stimulus.

[ccieboy]

hah!...what a moron....everyone is an expert when something hasn't happened yet.

he made this speech last january.

i wanna' hear an update from him today...hah!

[kelseywall]

Stein is always so wrong. Why does anyone listen to him. Ignorance really is bliss, I guess.

[pandemic125]

i am not an american, so i am not familiar with this person. from a foreigner's point of view he does seem to be a humorous intellect, and many of the comments made on this re: thread pertaining to this person's sense of reality seem to have a sense of emotional bias. i haven't listened to the whole video, as the clip states that this is an excerpt. does it matter what he says?... if you are a critical reader, listener, or thinker?

[maximumvalues]

stop sucking on that candy

[fuzzzymaine2]

bueller....bueller...bueller..­..

[LeftLiberalSoCal]

PEOPLE DO NOT LISTEN TO HIM.

This guy started his fame from a "dry eyes" commercial.

His stock picks and economic forecasts have been TOTALLY WRONG. This is the same guy that advised everyone to invest in financial stocks.

Why listen to him? Because he SOUNDS smart!? Look at his record!

[RealTime88]

Well let me ask YOU something Mr. Expert, what do YOU think we should do to fix the economy?

[mwessels11]

what are you retarded he is brilliant he was VALIDICTORIAN at YALE where did you/plan to/ or are attending? and he didnt even start in a "dry eyes" commercial he started as an actor for a temporary job after he was validictorian and yale and he was good at it so he stuck with it. learn your shit before you talk shit dumbass

[Zeldovich]

Stein said stocks were oversold and the market's fallen at least 40% since then. Take his advice, if you like.

[mwessels11]

yeah ok he was wrong about one thing what do you propose we do? the exact thing obama wants? if so way to think outside the box.. oh and nice job of sidestepping everything i said last time

[Zeldovich]

This crisis centers around bad mortgage, credit card, and auto debt and associated derivatives. Pass a bill to require that holders of these loans restructure the debt for those having problems paying, thus allowing holders to take smaller losses, limiting new foreclosures and credit card and auto loan defaults, and thus putting a bottom on related derivatives. That is the way to go. Just buying preferred stock in banks is not enough. The root of the problem must be addressed.

[mwessels11]

yeah k your just sidestepping everything i say

[Zeldovich]

How is that sidestepping anything? If Ben Stein knew what he was talking about, he would've said that we should short the indexes and financials, short mortgage-backed securities and credit default swaps, and go long on commodities until mid-year. He obviously didn't have a clue. We're in the worst economic crisis in at least 25 years, if not 85.

[mwessels11]

alright sorry about the sidestepping thing i thought you were the first guy i commented so that my bad haha... ok but if we spend so much money on health care and and "spread the wealth" we'll be in more debt than we are now and we wont be able to get out of the recession

[Zeldovich]

We need to subsidize healthcare for those who can't afford it now. WE are running huge deficits anyway and will have to raise taxes and/or lower spending in other areas in the near future. With unemployment increasing, more people with otherwise be without healthcare, driving up emergency room costs and putting a larger burden on hospitals, municipalities and states. Pick your poison. We're going to pay somewhere in some fashion, unless you favor eliminating guaranteed ER care.

[mwessels11]

well yeah i agree with you that were screwed anally no matter what but i think we should cut costs on healthcare the way we're going with it people can make a descent living on it so they have no inniciative to get off it therefore making them get off their lazy asses and get a job which would lead to less homeless and once they get a job they can pay some taxes which well lighten the load on the middle class if not only a little bit

[wacarring]

Did he blow it or what? What does Ben say today about this video? He did not see any of this coming.

[cosmicskydaddy]

Ben Stein amazes me in that he is always wrong about everything,and yet people pay to go listen to him be wrong.

[Thebboss]

It is bad. Not as bad as everyone claims. Carter's term was waaay worse. This is bad but the bread lines and such of the 30's are far away, barring an unforseeable economic crisis such as HUGE natural disasters, or someone pushing the buy instead of sell button.

[yahoovisitor]

Fake inflation of basic items of everyday life is being created, but the human life for which all this is being done seems to be of no price or having no value. Daily hundred thousands of human beings are losing life by different ways. Isnt it possible by United Nations, G-8 or some International Human Rights Commission to work out a formula of basic human rights & needs of life & implement it to end this situation of chaos ending in extremism or terrorism by unaccountable no of ways nowadays?

[maberry21]

This is complete bullshit. We have owners who dictate how our lives will be. Its so f-ing obvious. Create a problem and then create a solution. 9/11 equals billions if not trillions of dollars for the military industrial complex and also creates more laws for a police state in America. Watch "Freedom to Fascism" on google or youtube. Ben Stein is and will always be a TOOL!!!!!!!! The North American Union is coming soon too. Look that up as well....

[danger0usknowledge]

What happened Ben? Today, while bashing Sarah Palin you were wondering when Bush was going to get off his ass and do something about bank failures. I get it, Ben Stein will know we are in a recession if and when Obama assumes office. I tell you when I heard Stein talk about the real state of the economy today he scarred the crap out of me. When a republican water carrier talks about bank failures you have to wonder...how bad is it that it causes Stein to actually tell the truth?

[lpelina31]

I think that government should cut taxes for middle class permanently. Look at what happened with the tax rebates, GDP rose 3.3%. I don't think it'll be a permanent thing tho, once the ripple effect follows thru, it'll be short lived. And w/out constant demand or production, it'll do nothing to help the unemployment rate, which rose to 5.7% not including discouraged workers. The credit crunch isn't helping either, how can people buy houses if they don't have PERFECT credit for a loan?

[EasyEs]

NO BEN THE FEDS SHOULD NOT STRONGLY BACK LOANS! What the government should do is lower the cooperate tax rate and reduce their backing of loans and we will see a more prudent and prosperous financial sector.

[jannonymous]

is it just me or does stein have clownishly big ears?

[largo2001]

WARNING: Actor pretending to be an economist.

[devnulzzz]

Ummmm.... Ben stein is a brilliant and accomplished economist. He is also exactly right. So far, there is no recession at all. Had you ever lived through a REAL recession, such as during the carter administration, you would know the difference. Double digit inflation, double digit interest rates for homes, double digit unemployment....

If Obama actually is elected and asserts the same stupid liberal crap carted did (which is what he promises), THEN you will know what a recession is. :)

[largo2001]

That is because the government is not honest with you.

The misery index (adjusted) - see shadowstats is extremely high.

Do you reeeaaallllyyy think GDP is positive with a deflator of 0.8%?

[devnulzzz]

I think you are the one that is receiving dishonest information. Listen, I lived through Carter MYSELF, and saw and experienced for MYSELF what happened. I do not need "adjusted indices" to tell me what the truth is. The ENTIRE GLOBAL MARKET is depressed, and most industrial nations are actually IN a recession, unlike us. Things are bad, yes, but nowhere near the levels when carter destroyed our economy with his Obama/Carter liberal policies. GDP was 3.3 last quarter... I reeeeeellly think so.

[largo2001]

Look man, I am sorry to break it out to you but the Dow is down some 70%+ since 2000 in real (gold) term.

Have you checked the price of wheat? Crude Oil? Gold? recently?

Oh...that is right 2% inflation. Do you need someone to show you stats every time you fill your gas tank?

Or maybe you don't eat and do not require energy to live? In that case your 3.3 GDP is correct...but just for you.

[devnulzzz]

Look man, I am sorry to break it to you, but the Dow was at 7000 in 2000, it is UP 64% to 11,421 as of friday. Under carter, the DOW was at 1000 when he started, 780 when he left (DOWN 20%), inflation was ELEVEN percent under carter. Under carter, unemployment was 12%, 6.1% now, mortgage rates were 17% under carter, 6% now. I had to wait in lines and could not even get gas under carter, much less afford it. These are the facts under carter/obama liberal policies. Carter was MUCH MUCH worse.

[largo2001]

Price the Dow in gold/oil/wheat since 2000 and see for yourself how much "better" your are.

Borrowing more and more for the SAME houses is not wealth it is insanity.

But hey; please buy a house now, the biggest on the block, spend spend spend until...your owners (China, Japan etc.) comes to take away all from you

[devnulzzz]

The policies that Obama (and carter) assert destroyed the market, created massive unemployment, a drop in the dow, stagnant GDP, a gas shortage, and those are the facts. Again, I lived through it, and it is painfully clear which period was worse. And in fact, in large part, the commodities bubble was also largely created by liberals, pushing using food for energy. Your argument has been crushed, and you simply do not know what you are talking about, and live in a fantasy world. Enjoy it though!

[largo2001]

hey devnulzzz, should we ask LEH, Merrill, Bear and AIG creditors, shareholders and employees how good things are?

Dow 30,000 Go!

[devnulzzz]

Did I say things were "good"? We are paying for bad mortgage debt brought on by frivolous lending practices. Is that Bush's fault too? What I said, is that if Obama is elected, and applied the same liberal policies that carter tried, which is what he is saying he will do, it will be much WORSE than it is now, as I have shown: double the current unemployment, double the current inflation, no GDP growth, gas shortages..... Even after LEH, etc, we are in much better shape than that. Sorry!

[highway234]

haha. i've heard people blame clinton, who left office 8 years ago, but this is the first time i've ever heard a wankoff conservative blame carter.

right-wing idiots landed us here and it's obvious and they can't stand it. the thing that REALLY worries the right wing isn't the damage they've done to the country -- which they would be worried about if they had any shame -- they're still worried about convinving people they're right. it's truly stunning and nauseating.

[maberry21]

No Ben Stien is a tool who has continued to decieve you. Google "Freedom to Fascism" and see difference from what mainstream media wants you to know...

[devnulzzz]

Well, Ben Stein, the "tool", graduated with a major economics at Columbia University's Columbia College, with honors. Hmmmm.... same college as obama? Interesting. At any rate, I was merely comparing the current economy, with the carter economy, who applied the same "plan" as obama is now proposing. I merely stated the facts, and compared them. I go by reality, and facts, not silly conspiracy theories. Read my last post for the facts....

[maberry21]

I don't give a shit about his college education because when you sell out you sell out. Hence the term TOOL. Look if Obama studied/taught constitutional law for 10 years then he would know:

1. we don't declare wars on countries anymore

2. There is no law that requires us to pay an income tax.

3. The federal reserve is private/unconstitutional organization.

I can go on...We don't follow the constitution. Listen to Ron Paul. No conspiracies here just facts. BLAH!!!!! Stop the brain washing

[devnulzzz]

ha ha! ok. good luck with that then..... You'll need it. :)

[maberry21]

If your an American or part of any union of america then you'll need it too....

[DMalenfant1]

Eh, he was an economist for Regan, and that trickle effect really helped us out, when Regan left office the national debt raised from 1 trillion to 3.5 trillion.

Look at where the nation is today with jobs going over seas, going out of business, people jobless, the value of our dollar dropping, ect.. Watch when Ben talks, he will bash something then do a switch and totally agree with it. Example: watch?v=-M3XHT_AFRQ He bashes Palin then saids "THAT IS FINE, I SUPPORT ALL OF THEM VALUES".

[danieleriskay]

No, you douchebag. He's an economist who every now and then pretends to be an actor.

[largo2001]

Allright. First insulting people demonstrates your intelligence (or lack of it) as well as your insecurity.

Anyway, Stein, said that the mortgage mess was  a $30 Billion event...

Do you know how big is the current crisis?

[badumpy]

7 months later....I wouldnt say Ben was entirely wrong....but it is not looking correct

[kittygiagirl]

Is he blind? Oh I get it... this is a rich man talking which means he will not feel the recession.

[pwnzwn]

Read a book

[Repomex01]

Bueller ?,., Bueller..,??

[TABOOVSKNOWLEDGE]

Your expelled!

[Glsfutrs]

Ben seems to be carrying the Propaganda Flag

Ahead of the SocialisticParade to follow.

[VioletClub]

Too bad Ben Stein is a bonehead.

[TheEditorialist]

Ben Stein is a paid hack for Wall Street.

A soothsayer, nothing more.

[danieleriskay]

For all of you who think we are experiencing economically tough times in the US right now I can only say this: you have no idea what economically tough times really are.

[HeromanX]

You must've been around during the Great Depression. Lawl I remember it was $0.05 for a loaf of bread. You'd work a dime an hour with a penny raise every month. And you lived in shacks. Those were tough times. Lawl. Of course, these days, it's easier to find a worthless nickel on the ground. Back then, a nickel would've bought your family dinner for a night. These days, it takes $20. Tough times? We're certainly getting there, bud. :/

[danieleriskay]

"You must've been around during the Great Depression. "

No, but I did live for several years in the third world in literally a shack without heating/AC on a diet of rice and beans and fruit, washing my clothes by hand, and generally experiencing real austerity.

Poverty in the US is living high on the hog in comparison.

[fourthtunz]

The thing you have to remember is that, if you were to go strictly by the numbers we are doing fine.

As long as you are in the media/entertainment/government yes you are part of the "we".

So about 3 million people, the top 1% are doing fine, they like what they see, want more and do not personally know someone that has lost their job or someone that has died or served in Iraq so they could make their money.

[fourthtunz]

I like ben stein. I don't think he knows what he's talking about but he is entertaining.

[NosePickingSob]

Yes it's true!! It's not too bad for the elites!!

[lunarmottaman]

Liar liar liar liar. Shill shill shill

[mrfunnyman99]

Sorry Ben things are very bad, I know that hard for you and all your greedy friends on Wall street to comprehend.Go ask the average American how he is doing.What a Pompous prick.

Get it through your head, the dollar is finished.

[oscar3d]

What's the name of the guy speaking? Oh yeah..

Ben BernankeStein!! LOL!

[evcrawfish]

you tube search 'end game'

[JP5466]

This guy is an idiot. He's either very stupid or a complete liar. He's an elitest and lives in his own little world up in Beverly Hills. Don't forget... this guy is an ACTOR.

[Kelvin701Lakeland]

This guy for real? Is he on Fed Reserve's payroll?

[unreallogic]

LOL, he continues to get it 100% wrong. I love how he recommended everyone to buy Merril Lynch and Countrywide before they went down. He even had to apoligize to Peter Schiff in an article. This guy spits so much crap.

[falcon2154]

Don't listen to a jew

[skanicum]

unemployment rising, more strain on welfare and housing market

housing market crashing, no money for new houses effects

many industries, increasing unemployment

runaway government spending, $3,500,000,000 (Three billion

five hundred million) a day spent by politicians

Maybe we are headed for a recession/depression?

[skanicum]

disunity at home, a house divided against itself will not

stand, how can a moslem, a jew, a christian, a hindu,

a buddhist, a wiccan, and an atheist be unified when most

core beliefs are diametricly opposed?

over value stock market, if you liquidate all assets of

most any company traded on wall street, less than 10%

of traded value would be recouped.

[skanicum]

shipping jobs overseas, $25.00 per hour job for Paul

in seattle goes to achmed in india for $3.00 per hour

Paul goes on welfare or takes much lower paying job and

can't make house payments so house goes into default.

trade deficit, More goods come into country than we ship

out and more money goes out of country than what is made

[skanicum]

peak oil, sky rocketing fuel prices

loss of faith in dollar,inflation, hyperinflation, what

good is $3000.00 per month pension when hyperinflation

drives buying power to $300.00 a month?

illegal immigration,extra strain on welfare system

(foodstamps,free medical,welfare) driving down of wages,

wages sent to families in mexico instead of staying in

country.

[rickerbycourt]

People who choose not to believe it or use their own judgement of the situation or who have never lived through a real economic downturn will continue to lap up the sensationalist, truth distorting press and believe we are heading for some sort of economic armagedon - We are Not!

[frgtmygld]

Ben "Polly Anna" Stien at his best. Remember back in the fall when he said sub-prime was only a $30 billion problem, and Merril Lynch (MER) was a steal at $75? Now he admitts to $100 billion after the Fed pumped almost $600 billion into the banking system in March alone.

Check out what he was saying on youtube back in Aug.-Oct. of 07. Hopefully reality and youtube will put an end to guys like Ben who piss on your leg and tell you it's raining.

[rickerbycourt]

The first bit of common sense I have heard since this whole credit crunch thing kicked off. You just cant compare the situation today with the two great post war recessions of 1981 and 1991, let alone the situation in 2000/2001. The media seem to have very short memories, or were still in short trousers 10 years ago! We need to get a grip or we will end up talking ourselves into a recession!

[exzellentdriver]

...he's sexy.

[ngonea]

Maybe he has not heard their already in the Persian Gulf just waiting to nuke Iran?

[zito510]

Ben Stein has great noteriety & isn't dicking around. He's very articulate & straight to the point. I agree with his theories on possible recession & great buyer market during all of the foreclosures occuring currently. He's not trying to gain anything from this video. He's simply putting out his expertise & well thought out thoughts. GRAB it while you can...if not, you're an idiot!

[myroseaccount]

Did he say "BANKING IS LARGELY SOCIALISED"? He did amazing! Basically he is saying that the Banks should lend and make loads of money. If they screw up then the FED, or the US gov't should bail them out! Its good to see the RICH really understand the way a free market works! Profit for the Few, Costs passed onto the poor SCHMUCKS below.

[Sleeeeve24]

When the hell did cramer say the fed should buy mortgage companies?!?! Last I saw of that guy he was talking with ron paul about the fed.

[nesnman]

Ben Stein is a very smart man. Unlike people like Donald Trump he has never filed for bankruptcy.

[chesterandreduction]

is ben stein a huge jackass? i used to like win ben stein's money, but now he seems like a jackass. did he say 200billion/200=100 million? it seems like that would be 1 billion. IDIOT!!!

[r7n7]

100 Billion lost - and most of it will be reclaimed? How? Who will buy a few thousand homes with tightening credit?

LOL let oil prices rise... People can't afford their homes, soon they won't be able to afford to DRIVE to work or HEAT the homes they can't afford. This is brutal Ben. I suppose it's a LOT easier to say this when your pockets are loaded.

Let the Fed supply liquidity? Let them hold the banks up? Inflation and zero risk for moronic business practices? This is asinine.

[r7n7]

Real wages have tripled since 1955? Awesome. What's that calculated with inflation? -%?

[r7n7]

The the markets play out you say - only when it guts the middle class. Lets apply the same logic to the banks and let them collapse for their irresponsible and idiot lending practices. Stop the socializing of risk for these practices and save the people, not your fellow rich people.

[juanpinchame]

He cant say if we are in a recession ?....for shure he sold all his stock...?..

[JrGammel]

He seems to miss deflating housing, rising bankruptcy, bank losses, bond insurers in trouble, and the consumer credit crises, even bigger than the mortgage crises. He must be distracted by whatever he is sucking on.

[otissimo9]

I could never take seriously a man who is a big proponent of teaching 'Intelligent Design' in American schools. Fuck Ben Stein

[PeakedEarth]

He was telling everyone in late 2007 to buy the financial stocks - he should stick to fun tv personality rather then future mystic.

[yadeyrinii]

I wouldnt trust a zionist Ex-Nixon thug, his yiddish heart sure bleeds for all the American's who aren't rich and are getting screwed.

[mornnb]

He is indeed missing something that could quite easily take off 20% of the economy in the near term. Peak oil. There's no way to know when it will happen, maybe now maybe 2015 but definitely some time in the next few decades. High oil prices today exist because of high demand, which is perhaps a prelude.

[mornnb]

He has indeed missed something major that could quite easily take 20% off the economy in the near term in a worst case scenario. Peak oil. Although it's not here yet maybe today maybe in 2015 definately some time in the next few decades no way to know, however high demand is leading to high oil prices and that is perhaps the prelude to it.

[studio7manga]

Ben Stein is an incorrigible jackass, he has lost all respect with me, also he is completely disconnected from the everyday citizen's life.

[mikezephyr]

all he's saying is "let them eat cake" when 20 million people had their houses taken from them by preadatory banks deceiving the marginalized and weak. this just echoes bush saying the economy is all fine a couple months ago

[studio7manga]

Absolutely, men like them live in a bubble of privilege and wealth. IMO, bush would never have been elected if he hadn't pushed the social issues, who wants to elect a person that basically says, "I'm going to reduce your social benefits, give money to people that make at least 5 times more than you but not you, and spend the country to death." "Oh but wait he's really against the gays so lets vote for him," seriously a lot of people told me that's the only reason they voted for him, sad.

[CosmoHunter24]

Is he chewing or sucking on candy?

But, I don't know...He seems to be the few economists who are saying this. But I appreciate the more positive point of view.

[pennilesscripple]

okay this is another scary one from foratv

americans' houses are three times larger and they have twice as many cars? this is a *good* thing???

no linkage between the "yeah there are too many poor people" and the system that is based on bleeding the poor?

no linkage between this overconsumptive culture and planetary destruction?

yikes

bright man. major blinders.

[CosmoHunter24]

Well, this is only an excerpt..I'm sure he explains his POV more thoroughly in the full version.

[SparklestheClown]

That is interesting and good information!

[MisterQuebec]

People will believe it because it calms them down and makes them secure.

[SparklestheClown]

I think it bears real looking at the facts!