Bernie Sanders gives facts of our economy

[IntellectualAddict]

Yeah, I'm going to listen to a Socialist about how our economy should work.

[omgiheartpie]

@IntellectualAddict He advocates Capitalism. How does that make him a socialist?

[charmek1]

As a dutch citizen who is very happy to live in a more socialist country, where we still have good education, healthcare and minimum wage i am appalled to see how the USA is becoming a third world country. I see now how the investmentbanks continue to rob the rest of the world. I support the revolution occupy wall street. I care about the planet, the future of our children. We should strive for more equality.

[sha370z]

before the crash sep 2008 and oct 2008 and the aftershock  of 2009

[m0nkey13]

Why aren't people like Bernie Sanders, Dennis Kucinich and Ron Paul more prevalent in government?

[drjimiboy69]

"Socioethnic-centric interest groups."? Do you mean like the (almost entirely white) ruling class purveyors of carnivore capitalism, white supremacy, and ecocide? Somehow "illegal immigration" is an equal danger to the finance/corporate nexus that has been BuFuing the globe for 500 years. Pigs like Dobbs have supported "free trade," "deregulation," and "privatization," all of which have accelerated economic catastrophe and human suffering. Friendly fascism. Better yet, democratic fascism. 

[bubthegreat1]

Take back country from special interests Bernie?? Why the hell did you gut the bill that would've audited the federal reserve???

[ScottBrown666]

@bubthegreat1 So it would pass. Stop parroting Ron Paul. Bernie mostly wanted to know where the bailout money went, and now you know.

[bubthegreat1]

@ScottBrown666 He's a socialist, and he believes in income redistribution which the Federal Reserve advocates. Fuck him and any idiot that believes his shit!

[JewishFailPlan]

When you see a Jew you are looking at total evil. Fuck off ZOG! (zionist occupied government)

[ImmortalDestructor]

@JewishFailPlan Bernie Sanders is fighting against the ZOG and yet he is Jewish! No one is inherently evil!

[equsnarnd]

Bernie Sanders is a total idiot. Why is the gap widening? Greedy wall street. Give me a break.  They may be greedy but the numbers don't work. What is causing the gap to widen is the malfeasance of politicians who create inflation through the FED and the Treasury. It is their greed and corruption that is at the core of the whole mess!

[BeantownJim]

Sanders betrayed the us by opposing hr1207

[wheelinthesky300]

Keep it coming, Bernie.

I like the truth.

[laurasIs2c]

LOve Bernie Sanders! Love this man for fighting for reasonable standards for moderate American standards.

Love the way he points out the

Bill Gates applied for unlimited the Visas that let people from other countries come here to work because he doesn't want to pay for our workers. I'd love to know what is really up with that

[WillCodeForCookies]

The reality is that American workers are overpriced and unwilling or unable to compete with international labor. Bill Gates is a businessman like any other. If an American worker were offering a greater standard of work per dollar compared to say a worker from India or China, why would Gates or anyone else want to pay for the foreigner? It's a simple matter of dollars and cents.

[WillCodeForCookies]

In the present-day economy jobs are a lot more mobile than before. Americans need to wake up to this new reality. Instead of whining about how jobs are going to foreigners, Americans should focus on finding their niches and on gaining a competitive edge over foreign workers. Arguing for keeping jobs in America via protectionistic measures will only cause American labor to drift further away from relevance to the world economy.

[Paolo7219]

You and your neo con, corporate welfare whore philosophy. Bill Gates a businessman? Do you know how much money Gates/Microsoft spend on lobbying Congress? Let's VOID the Copyright and Patent laws and find out just how good a businessman Gates truly is. Only a fool or a corporate whore thinks an individual can compete with the Big Money and Big lobbying power of the like of Gates and GE--and others. Free Market? We won't have a REAL free market until the Copyright and Patent laws are voided.

[WillCodeForCookies]

Not sure what nonsense you are uttering but Bill Gates is most certainly a businessman. Not that I like the guy or his wealth, but the aim of a businessman or for that matter a corporation is to make a profit given the existing laws and such. So yes, if copyright and patent laws ensure his making a profit, then as a successful businessman he's going to do everything he can to ensure such laws and other conditions exist to his advantage. That's how the corporate world works.

[WillCodeForCookies]

So my point is that workers who hope to thrive in such a reality need to adapt and make themselves attractive to employers. But people like you like to rant and rave and make pointless arguments about how this thing or that is not favorable to you. Grow up and quitcha stupid whining. Stop complaining and do something to make yourself relevant to employers.

As for copyright and patent laws, they serve to protect intellectual property rights. I don't see how that is wrong as a principle.

[WillCodeForCookies]

Another comment I'll make about Americans in general are that they are very extravagant, racking up huge bills on the credit cards and being generally unwise with their spending habits, buying houses, cars and other such things they cannot afford, presuming that whatever job they have will continue to pay them what they need to maintain their current lifestyle. People from countries like India and China are far more frugal when living and working in the US.

[WillCodeForCookies]

That's why they can, and are willing to, accept lower salaries, thereby making them more attractive (all else being equal) to companies in the US. So Americans also need to learn how to be more frugal, not just in these trying times, but also in better times, learning to save and guard against tough times. I know Americans don't like to hear these things, but it is important to start taking personal responsibility for yourselves, instead of blaming everyone else for your woes.

[Paolo7219]

Voiding the Copyright and Patent laws are ESSENTIAL to a true Free Market. Do you really think that MS spends the money it does to lobby Washington DC because they want clean and pure Democracy? You are the one talking non-sense. I guess we should not expect anyone in business should operate ethically. All the more reason for government to step in and protect the electorate. Taxpyers have EVERY right to have THEIR intersts protected,just like the corporations do theirs. Do not fear competition.

[laurasIs2c]

When was there a democracy that was not influenced by those with the most money? When? When the Credit Default Swaps and their co conspiritors the rating agencies and the Derivative markets decided they didn't have to be regulated?

Was it when the minimum wage was decided? Was it when slavary was abolished with no payment for work performed? Honestly what fantasy land are you talking about? There never has been such a place nor should there be lest you invite the pirates to the tabel.

[Paolo7219]

laurasls2c: your points are well taken. One foundation of the basic rule of law is the principle of fairness. AND: the realization that not everybody is going to be honest, so we MUST have "referees" who can penalize wrongdoers. Without negative consequences, one geets lawlessness/scandal. With companies like Microsoft, it's very tempting to call them out on their alleged love of the Free Market.. VOID the Copyright and Patent laws. Let's see how well MS loves the REAL Free Market.

[laurasIs2c]

Our democracy is more important than sheer capitalism. Capitalism must be the servant of democracy rather than the other way. I dare say the person you quote is not considering all the implications of Capitalism for its own sake. The natural consequence of what you offer is slavary. By the way the userous laws of outrageous credit was outlawed in the 30's and has returned due to not educating our citizens on such matters.

[mysicta]

@laurasIs2c

Our democracy. Please stop spreading this lie. We are a Republic. Do your homework.

[ipwnorcs]

@mysicta Republic is a form of organization in which democracy can be practiced. I think you need to go to school to learn the meaning of the terms you use.

[mysicta]

@ipwnorcs

A hammer is a tool in which to build a building. Would you say a building is a hammer?

[genxtargetmarket]

@mysicta We are both. A Democratically Elected, Constitutionally Limited, Republic.

Hence the names of both parties. Sigh... we need instant runoff voting and proportional representation.

[Newenlightenmentnow]

@genxtargetmarket Amen! About time someone said it. There is also nothing unconstitutional about instant runoff or proportional representation. This whole redistricting (gerrymandering) is a bunch of shit. Show me where in the constitution where it says state legislatures have the right to make fucked up districts to gurantee a district always is dominated by one party!

[Newenlightenmentnow]

@mysicta So are you suggesting that just because we're a republic, that our representatives shouldn't represent us? I guess the right wing idea of a republic is one where the public chooses between two corporate shills. I hate your idea of a republic and I would fight it by any means neccessary.

[mysicta]

@Newenlightenmentnow

How in the hell would you make that assumption based on what few bits I said. And how have you any possible idea about what kind of "republic" I have envisioned as a preference?

Right vs left? If figures you would also be stuckin this whole left/right issue. Both parties are opposites sides of the elite. Your boy Sandars balked on the End the Fed bill.

[dontchastop]

@laurasIs2c Right on!

[alonelychild]

That´s just bullshit, America was built upon the soil of immigrants. Immigrants improve the competitive of the economy, especially well qualified ones.

[laurasIs2c]

We love to have guest workers and always have . However, in the passed a worker could find their way into the society by way of working hard and growing into a home, paying taxes, going to our social charities etc. Now that same group comes to this country and has to live in poverty at worst and villified for their use of public services and otherwise unincluded and thereby building disharmony because they cause wages to become lower.

[alonelychild]

But it is because the wages do not raise as fast as ina closed society would that USA keeps it competitiveness. Otherwise, the cheaper salaries of India will receive that foreign direct investiment. Hubbard said: the only way to keep our industry alive is to employ cheaper workers, that is why GM is so messed up.

[laurasIs2c]

What hippocracy! Bill Gates get the right to make profit from being a hero to those beyond our borders who create abject poverty and with such profits he makes musings of charity. How about paying people who are doing the heavey lifting of living in a democracy and building skills to work with and for government for and by the people with liberty and justice for all.

How about that as the priority of Capitalism in the USA. How about keeping your eye on the most impressive goal of governing.

[laurasIs2c]

Why are you so committed to the idea of keeping costs down on the backs of those who do most of the work and are paid less. How about taking a look at the salaries of CEO's who make millions in salary and millions more in other benefits then get raises if they deny more benefits to employees.

Most recently the CEO at Ceasars Casino in AC has gotten an 11 million dollar raise after eliminating the health care for the employees. Is it payment or pay-off.

[alonelychild]

Whatever you would like to call. Point is: comparative advantages versus costs of enterprising. If you americans wish so much to keep them at high levels, ok for me. It is my country, Brazil, and China, India, Chile, Mexico who will benefit most.

Because I would like to prevent the de-industrialization of America, for its own safety, I wish that these hocus pocus economics to be rejected. If governing welfarely so better, why historically french unemployment 2,5 times the American?

[sgsfdgfsdfsdfsddf]

@alonelychild French live long and have a better education system

[GuiR3X]

@sgsfdgfsdfsdfsddf well you used to be right, but now that we have a dwarf in power, he lusts to install the same kind of oligarchy that exists in USA. Fortunately, he got spanked at the latest election and will have to think again.

[Silberdachs]

The financial meltdown has revealed to America just how greedy and incompetent their ruling plutocracy really is. Not only have they systematically screwed the law-abiding taxpaying citizens of the USA, they now heap insult upon injury with their demands for bailouts and executive compensation.

The word banker is now synonymous (and rightly so) with the words "greed", "thief", and "cunt".

[ipwnorcs]

@Silberdachs Get rid of the plutocracy (i.e. capitalists). It's time for the workers that PRODUCE THE WEALTH to run our own lives, democratically.

[medliberty]

Every politician who comes on TV says the same thing. He blames the other guy; its never him.

[mcline007]

I just dont understand how someone like Bush got to be president. The guy is just plain dumb.

Al-Gore would have made such a good president that only thinking about it makes angry.

[controlpopulation]

One word... STOLEN.

[chichikov8]

I agree that Bush is an idiot, but so is Gore. I don't understand how you can look at that guy and not see a goddamn moron. They're all the same to me.

[bweazel]

It's because god damn morons are the one looking at the god damn moron. ; )

[laurasIs2c]

I wonder how you feel today? Just curious honestly just asking.

[khallaghi]

Collapse of the bubble economy,

Milton Friedman and Neoliberal economic model promoted by the United States is at the basis of the current crisis.

[stater68]

O yea, I forgot how well socialism and communism have worked out. Just look at how well Cuba, Venezuela, and North Korea are doing. I really enjoy a repressed economy and food shortages, along with dictatorial rule and no freedom.

[dontbeascab]

Yes indeed, just look at those three nations and you will find three completely different situations and in fact you will find three completely different political and economic systems.

You'll also find if you actually look at these countries, that you probably don't have really a clue how things are actually done in any of them.

[Sociocognitivism]

You obviously have never read about Scandinavia, or the European Union, The EU of course having the largest GDP in the world and is a fine example of truly democratic socialism, the likes of which has benefited member states in terms of trade and labor mobility, human rights, and standards of living. Practiced communism in today's world is not socialism. It is in fact regarded by much of the socialist and even Marxist community as a massive perversion of the socialist tradition.

[Tinfoilhatlady]

Dems and Reps are same. USA you have no choice. Wake up and take your country back or die drown in a big gulp from 711 while watching Dancing with the Stars.

[aragee]

My congratulations to the citizens of Vermont for having the great insight to elect a democratic-socialist to office.

What this nation needs is a lot more Bernie Sanders...

[heyazzhole]

Democrats forced the loans from the banks as well as well as 40 years of failed welfare programs......

[doc080]

Dope, the banks sought less regulation so they could make a quick buck in the Sub Prime market. Its simple, they approve credit, charge insane interest, foreclose then resell. This is Bush-Economics 101. It has nothing to do with welfare or Democrats its about corporate greed and you've been duped. Turn off Limbaugh and use your brain!

[optionqb]

Your assessment is ridiculous. No bank wants to have massive amounts of foreclosed houses sitting on their books. Since it counts as a liability, it reduces their ability to loan money (and thus make profit). Banks are not in the business of refurbishing houses and reselling them. Let me repeat. This is a very bad thing for banks. No bank CEO in his right mind would desire massive home foreclosures.

[doc080]

Ha Ha! Reduces their ability to loan money.... What country do you live in? The CEO's didn't desire massive home foreclosures, they didn't think it would happen. They were blind with greed! Anyhow, they knew the big bad government would bail them out. You and your economic philosophy are a fraud and Americans are finally waking up to it. You gotta love Bush!

[optionqb]

What do you mean "me and my economic philosophy are frauds"? And secondly, what do you think the $700-$850 bailout package was for? It was to remove these "toxic" assets from the balance sheet of banks and allow them to loan money again. Lastly, if the government didn't want banks issuing loans to people with poor credit, then why did FNM and FRM lower credit standards in order to buy these worthless mortgages? Bernie Sanders had no problem with it as it benefited people with poor credit.

[doc080]

Ok, the economic disaster we are in was caused by credit default swaps. The insurance that made investing in the sub prime market seem like a sure deal. This was not a government creation! It was unregulated greed in the marketplace mixed in with some good old fashioned Vodoo Economics. You're a fraud because you'll never have the intellectual honesty to admit what happened.

[optionqb]

How was it not a government creation? Banks under the aegis of the CRA were threatened with sanctions if they did not meet their CRA targets. To ease the pain the Congress instructed Fannie/Freddie that the target for CRA type loans(Sub Prime and ALT/A) was 50% of their portfolio, and the floodgate was open. All lenders, CRA and non-CRA, could bundle bad debt and sell it off picking up a nice profit on the transaction. That is intellectual honesty. What you're pimping is economic ignorance.

[doc080]

No sir, it wasn't lending under CRA rules that took down the mortgage industry. It was greedy, reckless banking executives, lending officers and mortgage brokers who were supposed to properly screen borrowers and apply prudent loan underwriting standards. It was lax and inadequate federal and state regulation that allowed exotic and predatory mortgages to be sold to borrowers.

[optionqb]

A "greedy" executive would sweat the credit worthiness of a borrower unless a GSE said "just send us the mortgages, we'll worry about securitizing them". The lenders wouldn't make stupid credit decisions with their own money but they knew that that could turn around and sell bad loans and avoid the risk. The lenders are complicit in the compounding the scandal but the real blame for the mess lies with FNM/FRM who knew the assets' they had bought were not worth a wooden nickle.

[ChicagoJoe57]

The banks were like degenerate gamblers with their mother's credit cards. Unregulated, the banks acted like spoiled children from Long Island. You want the list of who to blame? Greenscam and Phil Gramm, who sold our country out.

[optionqb]

You've gotta be kidding me. Bernie Sanders interrogating Alan Greenspan is like a high-school science-teacher interrogating Albert Einstein. The people to blame are the Democrat hacks who ran FNM/FRM. If you care to look, every attempt to reform FNM/FRM was block by the Dems. Who gets the highest campaign contributions from FNM/FRM execs? Democrats. As for Bernie Sanders...he's the number one reason why no sane businessman/woman would relocate to Vermont.

[ChicagoJoe57]

They all had a hand in it. You cannot blame either party unless you blame Phil Gramm and Greenscam. And Greenscam is far from a genius. If he was who you think he is, he would have been able to read the market and would have not continued to lower interest rates encouraging more abuse. Greenspan would have also been smart enough to realize that producing real products was important. Both Greenspan and Phil Gramm are anti-American to the first degree. I like the way Greenspan punks out.

[ChicagoJoe57]

If you think that I am one of the stupid partisan hacks who gives Bill Clinton a pass - can you spell nafta? I need not say anymore. I see a lot of mismanagement from both the Bush/Clinton years and an idiot lowering interest rates to camouflage the real problems.

[optionqb]

Greenspan is far from the best Fed chairman we've ever had. But Bernie Sanders is economically illiterate. Perhaps Hugo Chavez needs a new economic advisor? He needs to dila up Bernie. I'm not sure what your beef with Gramm is. The Gramm-Leach-Bliley Act did allow the consolidation of commercial and investment banks, but FNM/FRM were already considered "too big to fail" way before Gramm came onto the scene. I don't see Bernie opposing the lower credit-standards, after all it helps "the poor".

[ChicagoJoe57]

Gramm's successful effort to pass banking reform laws in 1999, which reduced decades-old regulations separating banking, insurance and brokerage activities, helped to create the current economic crisis.

Besides, Gramm cries about people caring about the economy - calling the People - whinners - and then the market - which he swore was strong - failed. That shows signs of weakness.

[optionqb]

I'll post one last "closing statement" on this issue, then I'll let you have the last word. My contention is still that FNM and FRM are the lynchpin of the problem. Without the relaxed credit standards AND the full faith and credit of the government behind it, then all these toxic MBSs do not get created. It seems more correct to say that deregulation did not lead to this mess...rather the wrong kinds of regulations. Gramm and Greenspan are distractions but not the real source of the problem.

[ChicagoJoe57]

I agree on the first part - that FNM and FRM are the a large part of the problem. Where I disagree with you is giving Phil Gramm and Alan Greenspan a get-of-jail free card - or a pass on the blame. If they were not part of the overall problem (which I believe they had a part in) then they should have been able to read the warning signs - as so-called good economists. On that part alone - they failed. Hopefully, we can survive enough to get some good talent in those positions.

[urparanoia]

optionqb-Repubs have pushed for deregulation since the Reagan years.When they succeed "joe average"takes it in the keester.Mortgage writers were often paid for the "quantity" of mortgages written and worried little about customer ability to pay.Thats what happens with deregulation.Greenspan, a republican,admitted his ideaology is flawed and his beliefs of the last 40 years were incorrect.Banks cannot be trusted to regulate themselves.Low interest rates are one thing and missmanagement another

[optionqb]

You should read some of the earlier posts. This has been discussed. We don't need more regulation, we need new regulations to replace the old ones. Banks were *encouraged* to make these mortgages because Fannie/Freddie would accept these rotten mortgages and securitize them. Why didn't FNM/FRM turn these mortgages down? They knew that these mortgages were not worth the paper yupon which they were written. Greenspan admitted one mistake...keeping interest rates too low, thus fueling the bubble.

[urparanoia]

optionqb-Bill Moyers Journal did an in depth study of the problem in June of 2007 and cited what I mentioned in my previous comments as a major contributing factor of the home mortgage crisis.Think about what you are saying regarding regulations-the REAL problems is that repubs were allowed to follow their idea of banks self regulating and it failed.Republican ideology was a failure and now we are picking up the tab. There are so many contributing factors beyond FNM/FRM that it is staggering.

[optionqb]

Then please explain what those "contributing factors are". I hear this so often, but then when I ask, "What are they?" I either get no response or contrived arguments about how tangential factors were a major cause. The overwhelming majority of banks can self-regualate. No bank makes such large amounts of stupid loans with their own money. It is only when a Dem created welfare-corporation like FNM securitizes them with tax-payer money that irresponsible behavior ensues. Bill Moyer? Puhleez....

[urparanoia]

optionqb- Have you noticed even the right wing hate mongers such as Limbaugh and Hannity rarely challenge anything Moyers has to say? Moyers often exposes corruption and greed long before anyone else thinks of covering the subject. Ask Tom Delay. Moyers exposed him YEARS before his antics became common knowledge. Obviously you buy into the word of the hate mongers and repeat their incessant blame of dems for anything that goes wrong.

[optionqb]

Bill Moyers gets challenged all the time. Of course if your daily diet of news is NPR, National Geographic, Rolling Stone Magazine, or MSNBC then you'd never know it. Moyers is just as kooky as anyone on the far right. The only difference is that Moyers is on the far left. Hell the late Molly Ivins wanted Bill Moyer to run for president for goodness sakes. Bill Moyers objective? Sheesh.

[urparanoia]

optionqb-I listen to Limbaugh and Glenn Beck each day and enjoy how they turn everything 180 degrees and in the process get people such as yourself to repeat their nonsense.Why does it matter if Moyers is left,right,center or objective?It only matters that he exposes corruption and dishonesty regarding his subject of choice.Please tell me what Molly Ivins wanting Moyers to run for president actually has to do with anything?Please cite an instance or two when Moyers reporting was incorrect

[optionqb]

Ok, I'll give you two. Moyers offered an apology to James Watt after attributing to him some ludicrous quote concerning a lack of concern about the environment "because Jesus was coming soon". He was also taken to task by Chris Wallace for promulgating a false story that Karl Rove was an agnostic who "manipulates the Christian Right for political purposes". The story was demonstrably proved false. He's a left-wing ideologue; if he reports something that happens to be true, it's pure coincidence.

[urparanoia]

optionqb-Dems did not approve home mortgage applications and did not encourage banks to give to those who could not pay.Health care bills are one of the biggest causes of financial difficulties,bankruptcy and home foreclosures in this country.Lost jobs due to trade agreements results in the working class losing jobs and when they find employment they average only two thirds of their previous salary.Fuel costs was the straw that broke the camels back and drove up the cost of goods and services

[optionqb]

The Dems encouraged easy credit pure and simple. They did so by purchasing toilet-paper mortgages and then securitizing them with tax-payer money. Most of the major execs at FNM/FRM are Dems and moreover they donate primarily to Dems. The politicians in Congress who most resisted reform of these GSEs were Dems. And blaming recessions, misfortune, job loss, etc. for most of these bad mortgages is ridiculous. If FNM felt these mortgages were rotten, then they could obviously have rejected them.

[urparanoia]

optionqb-If you are really going to make accusations in the typical Rush Limbaugh fashion why not question why a republican president and a republican majority in the house and senate untill January of 2007 did nothing to correct the problem especially since things got extremely bad in 2005-2006. Are you seriously saying that you don't understand why job loss,high fuel prices etc. can make it difficult for home owners to pay mortgage payments????? THINK !

[optionqb]

If you have an ARM that you could never pay off after the low-interest period expires, then it doesn't matter whether you have a job, pay low gas prices or whatever. Most of these people were given mortgages that no bank would make with their own money. Only when they can pass it off to an irresponsible GSE that securitizes them with tax-payer wealth do you get this debacle. How long did we have high gas prices before the housing bubble burst? When did the recession start? Don't obfuscate.

[optionqb]

As for reforming FNM/FRM during the Republican-controlled years, that is impossible without a filibuster-proof majority. There is no way that the Dems would allow any bill, that tampered with those corporations, to pass the Senate. FNM and FRM were created for two good reasons: 1)to provide liquidity and easy credit and 2) as a personal cash-cow for Democrats. The Dems would "debate" all night and day on the floor of the Senate to prevent such tampering.

[urparanoia]

optionqb-So tell me when the previously mentioned democratic fillibuster occured my friend. You failed to use the same excuse for the House.

[optionqb]

Why would you make a mountain out of an issue that the general public would yawn at? What would the general public and media have done if the evil Republicans had warned about a future mortgage crises encouraged by a GSE backed by the full faith and credit clause? The Repubs tried to address a distant Social Security crises which split their own party and drew hysterical criticism from the Dems, libs, AARP, and newspaper editorialists. How much less successful would they have been with this?

[urparanoia]

optionqb-Actually the general public is the biggest reason for many problems in this country. It's easy to push their buttons with sound bights and rhetoric.Often they pay no attention to a issue that is important simply because they know little if anything about it.We still have people who believe Iraq caused 9-11. As for SS, repubs are against entitlements of all kinds.Red flags went up for people in the know when they wanted to "fix" SS. That's like giving a fox the keys to the henhouse.

[urparanoia]

optionqb-You forgot to explain why Greenspan would say the republican idea of banks self regulatiing was wrong. This is no little thing. For a republican such as Greespan to admit in front of congress that the party ideology was flawed is a very big deal and nothing that the party would normally admit. They were caught with their pants down and even after their admission there are still repubs such as yourself who are trying to save face. Its too late for that.

[optionqb]

Greenspan merely referred to notion that banks would issue mortgages at standards higher than those mortgages accepted by FNM/FRM. This one comment has been jumped upon my libs across the blogs as some sort of white flag from free-marketers. Banks have been creating mortgages for generations, and yet it is only since the relaxed FNM standards from the mid-1990s (coupled with an economic downturn) that a mortgage crisis has occured. Banks were absolved of risk by government...not a good idea.

[optionqb]

Look. You and I could argue forever on this. Obviously, we disagree on who's to blame. I think we both agree that we want it fixed. To be honest, the banks will learn nothing from this mess, because they are getting precisely the bailout that they knew they would get. The banks gambled that government would bail them out, because government implied that they would. I truly hope reform comes from this. I want new regulations, not more rules, just new ones. I'll give you the last word. Take care.

[ChicagoJoe57]

Maybe Iran will take Phil Gramm and Greenspan as their economic advisers. You know, someone complains about the economy and they are beheaded?

[optionqb]

You could possibly blame Gramm for the Commodity Futures Modernization Act which many economists feel has contributed to the current liquidity crisis, but "anti-American"? C'mon.

[ChicagoJoe57]

When you cry and call the people that he expects to support himself and McCain whiners - then the market fails - you are anti-American. He was dead wrong on both accounts: his opinion on the American People and the economy. That is anti-American.

[sfmattyb]

Bernie is a flipping idiot. from a former constituent of his.

[itrod123]

I rather have a job fcuk the shoes.

[johnnycash7001]

Bernie is the man but im afraid we can't change it, he's stumbled upon part of the truth or country is been taken over by people with their own interest and the new candidates are different faces with the same agenda except Ron Paul

[markasmism]

once again, Bernie is the man. Oh and "I see many Americans with bigger homes, nicer cars..." Is that how you judge quality of life??? This is the inherent problem with the American lifestyle.

[BombCityRiot]

"I thought that you do not like Socialists."-j4unumber1 . Bernie Sanders is a socialist. Hes awesome and actually has the balls to say that.

[j4unumber1]

Wait Lou Dobbs - I thought that you do not like Socialists. So then why talk with Socialists such as Mr. Sanders? Just because you felt that it was convenient to speak with him to make your point? I know you hate Socialists

That said, I am happy that you showed Mr. Bernie Sanders the respect he truly deserves Lou Dobbs. Senator Sanders is fighting the good fight for the improvement of USA society and I am very happy that he is the one lone voice for every American that has not been heard.

[optionqb]

For who? The people who earn and/or save to purchase those items. Now I can see where you're coming from. Apparently people who make more money don't actually get an education and command skills that earn them more money. Apparently they "game the system". Government employees salaries come from taxes (and not from competing in the market). Of course postal workers and city employees are "well treated" they work a 9 to 5 job and have no competition. You don't get wealthy working a 9 to 5 job.

[michigan83guerrilla]

Bernie Sanders is one of the good guys.

[moneymagnetelizabeth]

The EU dictates the guest workers. They are used now as temps and abused with low wages too. I just befriended a group of Indian workers, tech, that were loosing their jobs at a pharma corp. The cycle continues to use people and dumb them. The American tech workers loose their jobs and so do the guest workers.

[concerned00citizen]

where's Bernie bill to impeach Bush and Cheney? Bernie the socialist runs his mouth while advocate redistribution of wealth to the sheepeople. Welch his buddy can introduce any bill in his position. Leahy his other buddy is 4th most powerful person in Congress. Come on Lou.... educate yourself.

[ebonywire]

Lou Dobbs in a shining light in the pathetic MSM. I also have great respect for Mr no bullshit Bernie Sanders. If America was run by people of similar values then it would'nt be in this stinking mess!

[Seaside2009]

You realize that Bernie is a socialist and Lou an independent conservative right?

[rappleduck]

Wow. Lou Dobbs has been on top of the media in providing the so-called news that your not supposed to know category. We need a hell of a lot more media people like Dobbs in the main stream media.

[mleland357]

How about Cuba, a butthead poor country that still manages free healthcare and where people who live longer than americans. In venezuela poverty has dropped faster than its growing in the US. The opposite is true, its free market countries which are failures-take a look at any country which has the IMF as a sponsor. But of course the US is not a free market either, so thats a moot point.

[Seaside2009]

No it's not my neo-liberal communist friend. It's mismanaged democratic capitalism that's to blame. Properly managed democratic capitalism is the most powerful force on the planet! But when you sell that out like we have by allowing multinational elitists to leverage our Republic we get the situation we have today; then it doesn't work. The Paleo Conservatist

[Bonescythe]

I like how you use buzz words like communist and neo liberal. he never said he was communist, and the fact is cuba is one of the only countrys to stand up to americas imperialistic bullshit.And did you know that Socrates, the mind that thought of democracy, was executed because it leaded to chaos

[optionqb]

Anyway, sorry for so many posts. But I hope you get my point. Sanders is not just a socialist, he's an angry socialist. Now I happen to agree with his opposition ot amnesty, but we agree for different reasons. I oppose amnesty because it's an obvious violation of the "rule of law" regarding legal immigration. Sanders opposes it solely because it depresses the wages of low-skill jobs...i.e. depresses them back to their actually market value.

[optionqb]

Did you watch Bernie Sanders comical "interrogation" of Alan Greenspan? Have you ever listened to one of Sanders tirades for federal, tax-payer funded health care? For economic protectionism? A "living wage"? If Sanders really does oppose amnesty, then that's great. Bernie Sanders is NO cheerleader for capitalism. Lou Dobbs is a big protectionist too. Both of these guys love labor special interest no matter how much American consumers suffer for it.

[optionqb]

Did you watch Bernie Sanders comical "interrogation" of Alan Greenspan? Have you ever listened to one of Sanders tirades for federal, tax-payer funded health care? For economic protectionism? A "living wage"? If Sanders really does oppose amnesty, then that's great. But if you think that Bernie Sanders is NO cheerleader for capitalism. Lou Dobbs is a big protectionist too. Both of these guys love labor special interest no matter how much American sonsumers suffer for it.

[FireGuyX]

Do you have any proof that Bernie Sanders loves labor special interest? He sounds more sincere than Dubbs and it's no secret that Sanders is a very liberal person.

[optionqb]

FireGuyX, rather than use this limited space to try and detail the left-wing, special-interest pandering of Bernie Sanders, I'll simply list a couple of facts he's a member of the Democratic Socialists of America, and he's the author of the Audiobook "Socialist and Communist Perspectives on the 2004 Presidential Election". Now, I can go into greater detail - if you like- but hopefully I've provided enough of a foundation for you to do further research.

[ChicagoJoe57]

Sanders is a good man unlike Ted Kennedy or Bill Gates. I have no idea what Liberal means? If it means sticking up for the middle class then it is a compliment.

Watch Bernie Sanders tear into Greenspan. Greenspan proved what a coward he really is when he faced Sanders.

[optionqb]

Did you watch Bernie Sanders comical "interrogation" of Alan Greenspan? Have you ever listened to one of Sanders tirades for federal, tax-payer funded health care? For economic protectionism? A "living wage"? If Sanders really does oppose amnesty, then that's great. But if you think that Bernie Sanders is NO cheerleader for capitalism. Lou Dobbs is a big protectionist too. Both of these guys love labor special interest no matter how much American sonsumers suffer for it.

[concerned00citizen]

AMEN! Yak, yak. Sanders can sure run his mouth without any challenge. VT press kisses is a---. "living wage" translation - corp exc get more money and poor get enougn to give back to corps for utilities.... keep writing as this man is clever and NOT challenged.

[optionqb]

Ok Zenloki, I'll provide something to "back it up". Do you know anything abour Bernie Sanders? He's an "independent" because he's so economically extreme that many Democrats think he's too socialist (which says a lot). Hopefully, you understand how poorly socialism has worked in producing wealthy societies. If not, then "holler back"; I'll explain that to you too. Otherwise just look at any website that touts free market economics. That should explain it far better than I.

[Steeplerot]

But yet, the best countries to live in year after year with the highest levels of freedom and standards of living are democratic socialist mixed market countries like Sweden and Denmark and Norway.

"Free market" is a utopian scam, just like communism. Like anything else in life it is a mixture of what works.

Don't forget: Socialist USSR was a second world country before it turned capitalist, now it is back to third world.

[optionqb]

Steeplerot, with all due respect. That's your opinion. I've been to Europe many times. And I'm very unimpressed with the standard of living there. I see many Americans with bigger homes, nicer cars, better specialized health care, and just flat-out more material wealth than your average European. The countries you mentioned have managed to keep their employment figures up by creating more government jobs, which is not a formula for producing wealth. Take northern Europe; I'll stay in the U.S.

[Steeplerot]

Bigger houses, better cars and specialized health care for who? A select few who know how to game the system? Will have to disagree here with you. And what is wrong with govt. jobs? Some of the best treated workers I know of are postal workers and city employees.

[optionqb]

Although I like Lou Dobbs stance on illegal immigration, he is economically clueless (as is Bernie Sanders). Having these two guys discuss economics is like having Brittany Spears and Snoop Dogg discuss foreign policy. These two schmucks demagoguing the economy is humorous.

[ParapaDrifter]

Ron Paul! Teaparty07.c0om! Right the wrongs! rhetoric rhetoric rhetoric ... But, seriously he will work for the average American citizen!

He is winning.

[ssarkis1]

he's not going to win

[ParapaDrifter]

keep hoping... and I'll keep campaigning. If you're ahead, act like you're losing.

[ssarkis1]

i like him a lot. i think his policies are excellent. but, unfortunately, he's not going to win. you've got romney and giuliani changing their policies every three months to win more votes and the majority of the nation gives into this because they're afraid of someone as determined and level-headed as ron paul. i met the guy in washington and spoke with him at length. i'm not trying to talk badly about him, i'm just saying he's not going to win.

[MySeizures]

Please ask your Senators, if health insurance coverage is the basic right of the "protected" animals in his country's zoo and wilderness or the dogs in his city, what's wrong in making the health insurance coverage the basic human right for every American citizen in USA? God forbid, the US politicians care more about the animals in the zoo than dying American taxpayers in desperate need of health care! Fascinating?

[Whoo69]

economic implications of the guest worker program? wtf is Bernie referring to? Does he think allowing some more guest workers in the southwest with visas will somehow bring down the economy and make us all poor?

[psyop63b]

His argument is that the net effect of the guest worker bill is to drive down wages. It won't make us all poor... that's hyperbole... but declining wages do have broader (negative) effects on the economy.

[Zeldovich]

Lower labor costs mean lower inflation and in the presence of sufficient net productivity gains makes us all wealthier. That is the key.

[ParapaDrifter]

So when do I see my money to make me wealthier.. Working at Wal-Mart only goes so far... I think im gonna retreat to an Amish community.

[Zeldovich]

If you ever want to make more money, you'll either have to move up there or leave. People didn't make money in retail below the management level before the more recent influxes of immigration.

[ParapaDrifter]

my point is that we have no other kind of jobs but retail cartpushing shit... all the manufaturing jobs are leaving. I guess I should start one up.

[Zeldovich]

Well, hispanic immigrants didn't take most of the manufacturing jobs. Tell me, have you applied for any lettuce-picking positions lately? How about nanny positions? Construction clean up? One day in a job like that would have you thanking your lucky stars for an opportunity at Wal-Mart.

[ssarkis1]

good point.

[boredjoewo]

Huh?? Lower labor costs make us all wealthier? Say that to yourself aloud a few times...

[Zeldovich]

Yes, lower labor costs make us wealthier, ceteris paribus. How many of you have bothered to check average REAL income growth in the US in recent years? Prices on clothing, some foods, electronics, etc. have gone down in recent years, thanks for foreign labor. So, when you look at manufacturing jobs lost here, or you consider the jobs taken by immigrants, just remember that this cheap labor makes products less expensive. How do you know the net effect is negative?

[Zeldovich]

Think of it this way: lower labor costs + the costs of setting moving manufacturing or recruiting immigrant labor should approximately equal the price savings of products or services offered in a competitive market with price flexibility. Throw in comparative advantage, which means less productive workers work on products and services that are typically lower value added which frees up American labor to work on higher value-added goods and services.

[Zeldovich]

Consider comparative advantage and we actually end up ahead. It's win-win. It's not a zero-sum game.

[danetrader]

Zeldovich: Your high school economics lingo (comparative advantage) makes for interesting reading however, the majority of your argument is incorrect due to your naivety. I will follow up with an explanation shortly, stay tuned.

[Filemon5]

That is the only point you could possible make Zeldovich. Canada and the US have gone downhill for the past 30 years - think about life in the 70s - a family could get their bills paid on one income, now we need 2 full time jobs - is that progress? In 2007, I can get jeans cheap at wallmart. That is not progress.

[Zeldovich]

Filemon, you make a good point. Income distribution is is less even than it was before the 70s. This is due in large part to factories moving overseas and outsourcing. HOwever, if we try to restrict trade now, we will only become less competitive and lose wealth at a greater rate than we do now. We need to expand educational opportunities and the social safety net.

[sujajajjaakakajjs]

lower labour cost does not make you richer because of the uneven income disrtibution. lower labour costs increase profits for corporate America rather than lower prices. thats for immigration. as for outsourcing, would you prefer to have a job or a bit cheaper shoes?

[Zeldovich]

Competition helps keep prices lower. Companies can't just pocket the savings from moving jobs overseas and importing more. They have competitors.

[sujajajjaakakajjs]

in a perfect world yes, but the inflation is the same as before but increase in income for rich and poor is not the same. do you know any other industrialised country with a GINI index as high as in US?

[Zeldovich]

Well, inflation is higher than before, but that's due to other forces at work. It's due to tightening food and energy supplies, too much net fiscal stimulus, low interest rates, and the fed printing more money. The current account deficit is also a factor, but it had decreased in recent months.

[sujajajjaakakajjs]

and what are all the competitors with low labour cost doing?

[Zeldovich]

Competition creates incentives to minimize prices to gain market share.

[jjny03]

Lou Dobbs for Prez!

[boredjoewo]

I would not want that! Did you se his spineless answer to Rosie ODonnell when asked about impeaching Bush?  He's never thought about it!?!?!? It is in my video list FYI.

[IshnessX]

I will second that!

[Violentsockz]

Bernie Sanders for President!

[wackykatpics]

Bernie Sanders is a crook.