Sheeple. A Question: Why does the biggest economy in the world have a Soviet style nomenklatura (the FMOC) determining the price of money? Why was one guy (Greenspan) running this?
Greenspan talked like a free market capitalist, but didn't have the conviction to be one. I wouldn't mind seeing the FED gone, but short of that, it should have only one mandate: sound, stable, non-inflationary money.
Break up GM so eCars would have a new business model and resource development capital. CEOes and investers' costs are major cost highly blocking jobs creations and technology innovations. Users profits, not CEOes' or investors', should be the major reasons for an industry to exist but blocking compatible component creations are their games right now. Twisting existing technologies into expensive component packages are Hollywood's repeating bad history industry. Korean will beat us.
"Two years after the crisis on Wall Street, it has been announced that bonuses this year will be $144 billion, the highest in history. That's who is going to get this tax cut on the top - two percent of the population. They don't need a tax cut. They don't deserve it. And therefore, what we have to do is focus on Main Street. And that means getting our house in order fiscally. Not tax cuts we can't afford."
-David Stockman on ABC News This Week, 11/07/2010
You can't have a free market when you have a Fed that controls interest rates. You can't have a sound economy without sound money. Borrowing and spending is what got us here, more borrowing and spending won't get us out. As long as we have a debt driven monetary system, debt will never be paid back. We are all debt slaves to the banksters that run the Fed. They get richer, we get poorer. End the Fed!!!!
Ron Paul will be somewhat laissez faire but with an important distinction to Greenspan - he will fix a broken and corrupt system - and then return it to relatively LF approach. The way it is set up currently, there is nothing meaningful that can be done. Real debate with teeth - ability to actually make changes - that will turn this country around - or at least return it to sane policies that can then be built upon. Not this big house of cards scam that is in place now.
Why is everyone hating the FED? The FED is there to provide liquidity to the banking system. For example, when my wife needs liquidity, I am there for her to piss down her throat. But no-one pisses down the banksters' throats, so the poor banksters need the FED. Therefore, only when we all piss down banksters' throats, the FED will disappear.
I like Ron Paul but be careful to not throw all your eggs into the Ron Paul basket. Ron Paul is strongly influenced by the ideals of Ayn Rand... just like Alan Greenspan was.
Greenspan more than anyone else implemented Ayn Rand influenced laissez-faire capitalism with his deregulation push while in the Fed. That ended well... so well that Greenspan actually admitted he whole system of belief was WRONG in 2008 when is all came crumbling down and almost wiped out the USA.
@workingcapital You believe Greenspan? Ha ! I saw him say that and was amazed at his nerve to do so.The guy was pushing the blame off himself and onto this non-existent free market. He and his protege Bernanke orchestrated this whole mess .The markets are not free when a room of people meeting every six weeks to determine the price of capitol/credit. His belief system was wrong(Keynesian) not the markets.Keynesiamn econ is the polar opposite of Rand's beliefs. Are you in some parallel universe?
This is Bloomberg TV, WTF do they know about money ? LOL
Non of this matters. What is simple is that the Nation is Fucked. On CSPAN, I watched the other day a Congress man who was investigating the Foreclosure crisis. As he succinctly pointed out. Either they stop the foreclosures to save Americans financial security. Which will kill the Banks. Or they Save The Banks By letting the People Go bankrupt. So what do you do ? The Answer he got was ( Crickets chirping)
@hobo59 oh you missed roubini a day or two ago talking briefly about privatizing the wealth...then they cut it..the other part of that would have been socialize the loss
@Cuchifrito that's Ben's counting on the ignorance of americans to achieve his goal. in reality its only an inflationary illusion
immediate effect: average american will see their portfolio growing, therefore they will feel as if they're wealthier and will go out and spend more come this holiday season
after effect: food prices go up as well as energy prices. average americans will be paying more for food as well as gasoline; basic necessities in life
We have to be sure that the GOP knows we INSIST that Ron Paul gets that chairmanship. The GOP has blocked him three times in the past.
"The first time the Republicans erased Ron’s seniority; the second time, they imported a congressman from another committee to take the job; the third time, they temporarily abolished the subcommittee." - Lew Rockwell
QE2 will stimulate spending because in a hyperinflation you must buy things before the money gets worth less later on. In Weimar, folks would be paid 2 or more times a day, so they'd be able to buy stuff at shops before prices rose. Those shops were raising prices multiple times per day too. For the US, right now, it's weeks, but that could change especially if the POMO frequency and size rises..
The FED is not FEDERAL folks... dont you see whats happening? This is the greatest wealth transfer in history and the taxpayer is left with the bill! Main stream is waking up to this, good!
Sheeple. A Question: Why does the biggest economy in the world have a Soviet style nomenklatura (the FMOC) determining the price of money? Why was one guy (Greenspan) running this?
usabeautiful2me 1 month ago
Greenspan talked like a free market capitalist, but didn't have the conviction to be one. I wouldn't mind seeing the FED gone, but short of that, it should have only one mandate: sound, stable, non-inflationary money.
nelsma292 1 year ago
"the Federal reserve is about as federal as Federal Express."
seanthemedicjudoman 1 year ago
Break up GM so eCars would have a new business model and resource development capital. CEOes and investers' costs are major cost highly blocking jobs creations and technology innovations. Users profits, not CEOes' or investors', should be the major reasons for an industry to exist but blocking compatible component creations are their games right now. Twisting existing technologies into expensive component packages are Hollywood's repeating bad history industry. Korean will beat us.
beancube2010 1 year ago
The problem is that creditors aren't represented by the FOMC or Congress. U.S. bond holders need to form an interest group.
Wcoltd 1 year ago
"Two years after the crisis on Wall Street, it has been announced that bonuses this year will be $144 billion, the highest in history. That's who is going to get this tax cut on the top - two percent of the population. They don't need a tax cut. They don't deserve it. And therefore, what we have to do is focus on Main Street. And that means getting our house in order fiscally. Not tax cuts we can't afford."
-David Stockman on ABC News This Week, 11/07/2010
Hallelujah! A sane Republican!
walkinghorseman1 1 year ago
We can NOT afford to give another $700 BILLION DOLLAR TAX CUT to the richest 2%.
DillonDee1 1 year ago 4
@DillonDee1
We can NOT let Congress SPEND another $700 Billion
Jdlifsey 1 year ago
Hly shit what a great interview.
treysparker 1 year ago 2
we are a cunt hair away from road warrior mad max in thunderdome
RunsWitGuns 1 year ago
Here's a tip on "what's going to come out of the new congress" NOT A GOD DAMN THING!
solgoode1 1 year ago
You can't have a free market when you have a Fed that controls interest rates. You can't have a sound economy without sound money. Borrowing and spending is what got us here, more borrowing and spending won't get us out. As long as we have a debt driven monetary system, debt will never be paid back. We are all debt slaves to the banksters that run the Fed. They get richer, we get poorer. End the Fed!!!!
nomoreserfs 1 year ago
An independant Fed is code word for private. A private bank issues our currency.
nomoreserfs 1 year ago
hang the elites
TheBelligerentPanda 1 year ago
Ron Paul will be somewhat laissez faire but with an important distinction to Greenspan - he will fix a broken and corrupt system - and then return it to relatively LF approach. The way it is set up currently, there is nothing meaningful that can be done. Real debate with teeth - ability to actually make changes - that will turn this country around - or at least return it to sane policies that can then be built upon. Not this big house of cards scam that is in place now.
MicOnTesting 1 year ago
Why is everyone hating the FED? The FED is there to provide liquidity to the banking system. For example, when my wife needs liquidity, I am there for her to piss down her throat. But no-one pisses down the banksters' throats, so the poor banksters need the FED. Therefore, only when we all piss down banksters' throats, the FED will disappear.
sinitskyd 1 year ago
@sinitskyd And what does your wife think about your pathetic lack of respect?!
Maybe she could crap down your throat.
mysterions13 1 year ago
Our whole system is built on debt and debt instruments . It's a gubermint sponsored pyramid scam . The gold is all gone . You fools !
SAYYOURROSARY 1 year ago
I like Ron Paul but be careful to not throw all your eggs into the Ron Paul basket. Ron Paul is strongly influenced by the ideals of Ayn Rand... just like Alan Greenspan was.
Greenspan more than anyone else implemented Ayn Rand influenced laissez-faire capitalism with his deregulation push while in the Fed. That ended well... so well that Greenspan actually admitted he whole system of belief was WRONG in 2008 when is all came crumbling down and almost wiped out the USA.
workingcapitalist 1 year ago
@workingcapital You believe Greenspan? Ha ! I saw him say that and was amazed at his nerve to do so.The guy was pushing the blame off himself and onto this non-existent free market. He and his protege Bernanke orchestrated this whole mess .The markets are not free when a room of people meeting every six weeks to determine the price of capitol/credit. His belief system was wrong(Keynesian) not the markets.Keynesiamn econ is the polar opposite of Rand's beliefs. Are you in some parallel universe?
2456216 1 year ago 2
@2456216
I wish i could give you 100 thumbs up lol. You're absolutely right in every respect.
treysparker 1 year ago
3:49 "it can only end in doom"
3:55 "the Fed is injecting high grade monetary heroin"
workingcapitalist 1 year ago
END THE FED!!!!!
killergames187 1 year ago
This is Bloomberg TV, WTF do they know about money ? LOL
Non of this matters. What is simple is that the Nation is Fucked. On CSPAN, I watched the other day a Congress man who was investigating the Foreclosure crisis. As he succinctly pointed out. Either they stop the foreclosures to save Americans financial security. Which will kill the Banks. Or they Save The Banks By letting the People Go bankrupt. So what do you do ? The Answer he got was ( Crickets chirping)
hobo59 1 year ago
@hobo59 oh you missed roubini a day or two ago talking briefly about privatizing the wealth...then they cut it..the other part of that would have been socialize the loss
isawanangel2 1 year ago
He speaks the truth. The banksters will have him either "plane crashed", "disappeared", or "suicided" shortly.
This is, after all, America.
DaryllDickens 1 year ago
Ron Paul is going after the banksters? The one expansion of government spending warranted might be an order for more handcuffs...
TheSpiritOfTruth 1 year ago
The scariest thing to me is that what he's saying is patently obvious. That our "leaders" disagree tells me that we're screwed.
steveb777 1 year ago
Never mind the future, party like it's 1999!
ret 1 year ago
Please have this man on more often.
dieyoung 1 year ago
Excuse me but the American public IS that stupid. For instance, my out-of-work relative is planning a vacation because his 401k is up.
Cuchifrito 1 year ago
@Cuchifrito that's Ben's counting on the ignorance of americans to achieve his goal. in reality its only an inflationary illusion
immediate effect: average american will see their portfolio growing, therefore they will feel as if they're wealthier and will go out and spend more come this holiday season
after effect: food prices go up as well as energy prices. average americans will be paying more for food as well as gasoline; basic necessities in life
mcdonald raised dollar menu to $1.50
BlackThought415 1 year ago
A Ron Paul Chairmanship on Monetary Policy... a great day indeed. Let the games begin!
iFreedom4ever 1 year ago
We have to be sure that the GOP knows we INSIST that Ron Paul gets that chairmanship. The GOP has blocked him three times in the past.
"The first time the Republicans erased Ron’s seniority; the second time, they imported a congressman from another committee to take the job; the third time, they temporarily abolished the subcommittee." - Lew Rockwell
JiveDadson 1 year ago 2
@JiveDadson I pray this time it's real deal... I wonder what last minute stunt the print and spend Repugnants will pull this time?
iFreedom4ever 1 year ago
QE2 will stimulate spending because in a hyperinflation you must buy things before the money gets worth less later on. In Weimar, folks would be paid 2 or more times a day, so they'd be able to buy stuff at shops before prices rose. Those shops were raising prices multiple times per day too. For the US, right now, it's weeks, but that could change especially if the POMO frequency and size rises..
OtisWild 1 year ago
The FED is not FEDERAL folks... dont you see whats happening? This is the greatest wealth transfer in history and the taxpayer is left with the bill! Main stream is waking up to this, good!
michielma 1 year ago 11
click - buzz - whir... rational thought will not be tolerated... buzz - whir - click - click
bigken61 1 year ago
Best commentary I have seen yet on the absolutely out-of-control Ben Bernanke and federal reserve.
Ivanovich71 1 year ago
Whoa, slow down! That's too much truth & sense for the masses.. .they won't be able to handle it!!
2:42
MengersDisciple 1 year ago 6