How can you talk about a 'stimulus' like Japan enacted and not talk about where that money comes from? Japan created money and backed it against the dollar by buying up T-bills! The US gets cheap goods but has to make another charge to the credit card. At a certain point, the output of the faux-economy won't cover the interest on the debt. We have no choice but to inflate the currency which destroys the middle and lower classes. This video ignores these facts. Ron Paul 2012!
Obama's economic policy is succeeding in-so-far as it's destroying whatever is left of the private economy and middle class... So check out my latest entertaining vid on the subject.... Planned collapse is the Cloward/Piven/Obama/Soros deal....
I can not believe nobody could see this coming when our industries and Government invested in other countries besides our own. I've seen this coming since the 90's. The real crime about this is the Chinese campaign contributions given to both Dems and Repubs starting with Clinton. This is a real crime with real live treason. We need Dungeons, Ropes, and Pitchforks. Buy Ammo
You're right that Republicans are contractionary. The stimulus wasn't a complete failure, we went from 6.5% contraction to 2.5% expansion. Summers said the employment generated by the recovery however was about 1-1.5% under what the historical models predicted. I'd like to know why. Is it the depth of Real estate problems? Is it the continued comptetive pressure from China? Was it political?
@derfilmmacher I think it's fraud in the stats and the contraction didn't end. I think it's a fraud about employment generation, that outside of government it's negative and inside of government it should be negative because positive job growth from government tax-revenue stream(s) is actually damaging to the economy, not helping it.
You're right that Republicans are contractionary. It seems to me though that there is a schism in Republican party which is a big story that no one will talk about.
I love the idea of shutting down the gov. It's boneheads like Jay and his socialist pundits who find the only way to prosperity is by spending money you don't have. What a load of crap. No more bailouts, no more 'stimulus', and no to socialism.
@bbburton this kind of socialism, printing money and spending what can't be recovered, has to go. The kind of socialism that needs to come into force is decentralized, open-source transparently calculated spending with clear need. Like keeping manufacturing going so the skills aren't lost forever, nor the equipment needed to keep pace with global advances. Lose that and your nation is lost, so the cost to support is necessary. A nation is only a colony of other nations with no manufacturing.
@bbburton of course if you want zero-spending from socialism no matter what, that choice is workable. Zero-recovery to manufacturing in North America works fine so long as you are willing to move to the nations where the manufacturing still is, or if you can afford investments in those companies now so your meager non-farming non-manufacturing wages are supported by returns on those overseas investments. If you can do that, good for you.
re: too small a stimulus. No, it was too large but worse, it was directed at the banks. The worst way to spend money is to give it away free to banks. The best way is to directly invest it into small business to grow jobs and to decentralize real economic stability, rather than to centralize real economic crisis. The stimulus could have been 50% the cost and directed only to small business and manufacturing and today would look much better. Much better. Those banks must fail. They're all frauds
@jstncbllr more infrastructure but the right kind: more rail, electric trains and public transit, less freeways / highways and less support for large airports. It's a mess now, they have no intention of taking back the mis-spent money from the bandit-bank recipients. So far that I can see the nearest thing to beating them is sticking with gold and silver for money, before turning to guns.
@ytgv3fc7 The bailout was separate from the stimulus. It was atrocious. He should have broken up the banks. If the democrats don't replace obama in the primaries, I am voting green party.
@Dameocrat that will be the time to do it.... the republicans will most likely have palin or some other idiot going against obama, so you don't have to worry about the "don't vote 3rd party and let the insane Rs to win".... they won't, not with an idiot like that on the ballot.
@Dameocrat I don't regard the bailout and stimulus as being separate. They have common cause and common recipients. The whole thing's a sham. Obama is a tool of Goldman Sachs, nothing more. A puppet. It wasn't obvious before the election, unfortunately, but what can you do? As an American choosing Democrat or Republican you only choose which puppet will help the elite rob you. It's the same end-result. sorry for your luck
Peter Schiff is right about one thing: taxes not collected is only money being kept that is earned properly AND tax dollars aren't being spent efficiently by American government. End-result: tax cuts are not deficit increasing. Because tax cuts that are not reversed are just acts of 'taking' (theft?) which are not happening. Currently corruption is so rampant, government and corporate, until it's small business and individuals with savings, America's done like dinner. Present the fork please.
@ytgv3fc7 said "tax cuts are not deficit increasing because tax cuts that are not reversed are just acts of 'taking' (theft?) which are not happening."
This is just semantic wankery. If you keep spending constant and lower taxes, the deficit does indeed increase. By definition, yo.
The fact that you (or that crank P. Schiff) believe taxes are theft has no bearing.
@jstncbllr NO, it's NOT semantics and a claim of such is a FRAUD.
Constant spending? What imaginary world are you living in that spending MUST be constant?
It must NOT be constant. It must be measured, and in fact, reduced. Military budgets and bribes and pay for politicians could be cut and that would be more than half the tax revenues for the USA as-is, effectively doubling spending capacity with no tax increases.
The fact an expert like Schiff is a 'crank' to you shows you're a fool.
@jstncbllr ah, I see what you mean. Schiff isn't stupid but he isn't telling a straight story. Ok, I can agree with you on that. I posed a question more than once that he hasn't responded to, and he does read youtube comments. If regulations were minimized, minimum wages gone, total free-market rule, what would an American wage BE, moving jobs back from China/Asia? Would it meet cost of living? No response on that. Because if an hour's wage buys a loaf of bread that's a sad story.
@jstncbllr pretty much I've backed up my arguments about why free-markets don't work, without positive response from many Schiff-worshippers. I follow him, and I like most of his opinions, but I question this sharply. Free markets employ fraud without direct and constant supervision to smack fraud down and punish it severely. Markets on their own turn to fraud rather than stopping it. Create scarcity to give value to products where no scarcity existed naturally. Creates poverty deliberately
@jstncbllr I suppose another fair question to poke at Schiff himself is how he thinks a free market can fix anything before there is one in relation to central banks. Central banks set interest rates and print money. This means to have a free market all central banks in the world need to be NULLIFIED. This might mean war or it might mean gigantic economic turmoils in transition. Does he support that? Will he attempt it? Will he even suggest it, or just avoid the question? It's a big one.
The only thing I don't agree w/ you about is commodity based currency. I'm no expert, but it seems like a technological step backwards from fiat currency. Fiat currency avoids some instability inherent in commodities.
That said, I *do* think the Fed has been misrun and needs reform. It needs to focus more on keeping unemployment down. It needs to be more transparent and accountable to the people. Greenspan (a Randian, barf!) was terrible.
@jstncbllr unfortunately the current times have shown the continued history of fiat currencies to be a step backwards in terms of both stability and honesty. Unstable money based on fraud doesn't do us any good. Can we have fiat that doesn't do this? Having gold or silver instead pretty much takes away the power of money-printing, and being elements, we can confirm purity and weight without anyone's promise using various tests. It's been stable before, very long-term.
@ytgv3fc7 Fiat vs commodity is too complex for youtube discussion. But it seems to me gold provides a false sense of stability, and gives us less control over the domestic economy. I find these points convincing:
bit ly/9AswdY
Bernanke's talk on gold's role in the great depression is also interesting:
@jstncbllr as for unemployment, I don't think central banks can or do try to control unemployment using monetary policy. It just doesn't work. Monetary policy doesn't control innovation, doesn't control job skills training, doesn't control immigration, doesn't direct investments to anyone at any time who needs any for business. So pretty much I think it's attempting to use a hammer to fix a stainglass window. Not viable.
@jstncbllr another aspect of free-market failure is consumer vs producer. A non-producing consumer has no leverage to fight with: everyone can charge any unfair price they want and a consumer will pay or go without. If it's life-critical things like food that's a survival-threat. A balanced market requires every participant to be a producer of some leverage equal to other participants, not a consumer. ALSO critical goods like food, water, healthcare, can't work in free markets, supply/demand dyn
@jstncbllr supply & demand dynamics fail completely for critical goods. The reason is that people will die or be badly injured/sick without those critical goods so there is no price balance: people will spend ALL their money and borrow more, out of need for survival, when prices are driven up too high by markets relative to savings+income combined. This is why socialized healthcare in Canada actually makes more productive workers AND SAVERS that America doesn't have.
@jstncbllr as you can imagine, no matter how much I hate the Keynesian money-printers and their ponzi-paper fraud they call money, and enforce so I must be paid in fiat and convert at a premium into something of value like gold or silver for value-storage of money-earned (or I have no incentive to save, and therefore no incentive to WORK more), I really want Schiff to answer all these important issues with Austrian economic theory. I doubt he will dare, these are not easy questions.
I think we're likely to see more stimulus spending, because the top call on that is Geithner and Bernanke who don't get voted in. They call the shots on printing money and they will not even answer at all, or straight answers, to anyone elected nor to anyone in the public about it. Ever.
Well Ferguson is right but for the wrong reasons. Yes the status quo will continue, simply because they aren't letting bad debt get liquidated, and quantitative easing will continue.
And yes government spending has to go WAY down. That includes the military!
Why no mention of the military in this economic talk. Doesn't it account for something like 50% of the deficit? Also, Ferguson has a comical demeanor. "I hope that is what I said." Instead of saying bye he says "Okay." lol.
isn't it crystal clear that we cannot support all of the federal government's activities (at least at their current levels)?
at some point we need to have a national debate on whether we want more than half our incomes taken for these programs or if we should simply end these programs, freeing up people's income to spend on whatever they want, including charity!
i love that he knows quantitative easing is a bad idea.
tax the middle class and the poor and dont taxe the rich. maybe that way people cant feed themselves and cant wipe their own ass that they will be desperate enuf to not vote and change the two party system and bring socialism, capitalism doesnt work too much exploitation of the worker, resources, nature etc.
If any one of u morons wanna live in that kinda world then fine. I dont want to live in a place where no matter how hard you work your always going to be pulled down to the same level as people below you due to the system. Most rich people get there by working hard and making smart investments. Penalising that seems wrong to me. Raising taxes may work, but there are options before it comes to that. Everyone seems to agree that govt. needs to get smaller and need to greatly cut their spending
By the way on the Japanese ecomonic reprieve, didn't the Japanese begin to save money since this was Japanese debt money not like in the U.S. where this debt money is foreign owned.
@Boyd0006 Unless you are in the top 5 or 10% your statement is absurd! You seem to have a disconnect from how things actually work. What you are arguing and reality have nothing to do with each other.
Your argument is untenable. The fact that you start your statement with a sentence that contains "u morons", shows you are having some problem with logic --this is an ad hominem and in no way will advance your argument or agenda.
@Knossos22 I knew someone would comment on the "you morons" statement. If you actually had any idea then u would know that it was in retaliation to several hateful messages sent to me with no other motivation behind it other than trolling and spreading hate. difference in opinion shouldn't call for that. The only ppl that should take offence to it are the people that are guilty of that and they know who they are
It is easy to get sucked into being irritated. We / I / everyone should resist this sort of thing... Actually, you have stirred a good debate and it is in the debate that people often get their neurons activated! Good job!
@Knossos22 Yeah, its my fault for allowing to be baited but i'm only human.
I'm only throwing in my opinion of things in the hopes of getting my mind around the ideas that are being proposed. If i'm wrong i can take it, but the hate is something that gets to me even though i shouldn't really let it. I guess it's partly because like for many others in the world, these are tough times and ppl are hurting. the cracks are starting to show.
@Boyd0006 “I dont want to live in a place where no matter how hard you work your always going to be pulled down to the same level as people below you due to the system. “
Who the hell is proposing this? You are blowing this up into a doomsday emotional response. Ridiculous! Working hard to get ahead 10X is one thing. 100X, 1,000X, or 10,000X is an entirely different! Seems like you have been listening to too many soup salesmen. These kinds of pyramids do not work.
@Boyd0006 In fact not everyone agrees we need to cut taxes and spending. The majority would like to raise them on the rich. I believe most modern rich people make their money on inheritance or speculation, and those that didn't are probably creating most of the jobs elsewhere other than the us. Leastways I would only give tax breaks to those who can prove after the fact they provided jobs in this country. They don't get a tax break on maybes.
@Dameocrat agreed. but they shouldn't have taxes raised on them on maybes either. companys that outsource need to be taxed more. I'm just worried that when ppl say rich they will be grouped with the "well off" that make 75-500k so it needs to be more defined. And by cutting spending, i mean in terms of the military industrial complex to free up resources for the production of more useful things like consumer products that everyday ppl will actually spend their money on.
Anything worse that sitting on piles of idle cash (banks) is cash being used for war death or make inefficient temp work projects (gov't) creating inflation.
GET REAL real news.
.
The REAL reason the Great Depression ended after WII is because returning vets and small businesses needed to provide services with skills learned during war period. Gov't stepped back & didn't play persistent favors w/ big business. Stable prosperity happens when you buy and sell in markets of scale.
Obama said we should be "grateful" for his recent tax cuts. As if ALL our money fucking belongs to the government and we are lucky they only take 30%. Its my fucking money and i should keep ALL of it. The government doesn't "lose out" on jack-shit if they cant collect income tax, because its NOT THEIRS IN THE FIRST PLACE. All the tax money goes to pay the federal reserve bankers anyways!
@NoahHoe quit using the internet, the highways, the streets, the interstate the freeways, the bridges, the public schools, the us mail, and never ever collect social security.
@sktigerjs Keep in mind how much was taken out of the system by banks not lending and people not able to borrow against their equity. So yes, the stimulus had to be at least a trillion.
@xxashyy firstly Fed Reserve Notes are not anyone's money but those who own the Fed Reserve. The govt borrows that money AT INTEREST from the Fed Res. What you call "your money" is actually a debt that must be repaid back to the Fed Res in the future. That is why "keeping they're own money" adds to the deficit.
In fact, if people continue to use Fed Res notes the deficit will only get bigger and bigger no matter what the govt do or tell you.
The Republicans will lose seats in the House this Tuesday.
The dirty little secret of this year's polls is the dramatic increase in "wireless only" households. 25% of US households have no landline. This is up from 10% in 2008. Pollsters only call landlines.
Wireless only homes are overwhelmingly young, politically active, and Democratic. The current polling samples are inaccurately skewed towards old, white, conservative voters.
Republicans are in for a rude surprise Wednesday morning.
Obama's stimulus worked perfectly and all the scare stories turned out to be rubbish. People don't understand how fucked up the situation was and how good we (the entire world) got away. It could have been much worse. But they failed to set up a proper, international regulatory system for financial institutes.
Very good interview! At 3:57 “threaten to shut down the government.” Why should those involved in inflicting pain on millions of people be working? Why should those supporting illegal wars be working? Why should those supporting the bank$ters be working? It would be good for the troops to come home and for congress to close up offices because of their crimes.
Gridlock will show even the zombies that this government has failed. Expect even worse times to come.
Stimulus too small, but the increasing the money supply won't work....how do you pay for the stimulus then? All Paul Jay knows is the Keynesian school...there are other ideas here. Get Marc Faber on here.
@mphailey There is a hue difference between throwing more money at rich folks who use it to speculate and giving it to ordinary folk who run small businesses or a household who will actually cycle the money into the economy.
Break US give Independence to all States (Which they are crying for ) and let them Live Peacefully away from Zionist Controlled Economy ....... Simple Solution
How about giving the treasury control over issuance of it's own currency, by ENDING THE FEDERAL RESERVE? Care to address that Paul Jay? We all know the fed is NOT federal, but rather a PRIVATE bank. As a PRIVATE bank, do you think it feels responsible to the American people, or to it's own profits? END THE FED!
I do agree quantitative easing is a bit of a vicious circle. Where money goes to where no one is getting any benefit of it. But ask, why are we raising taxes for it to go to banks? A tax hike is the LAST thing you want to do because it's proven RIGHT HERE that it goes to NOTHING. CUT the TAXES! Let the people SPEND their OWN money. And who friggin cares if the superrich are spending, at least they're spending.
"Obama's economic policy failed, GOP will be worse"
The title should be changed to "FED's Ben Bernanke monetary policy failed! QE1 aka debt monetization didn't work, the QE2 will be even worse and may unleash inflation pressures unseen since late 70'!"
@largo2001 The stimulus that was injected during WW2 was much greater. If stimulus can work by making bombs to blow up then obviously stimulus can work to build things we can keep for a long time....schools, roads, factories, ect.
@sabiki74 Please tell me you dont really believe we got out of the great depression because of ww2. Cos if destruction of resources and man power is what we need to get us out of this economic slump, then am not even sure i want economic recovery
Roosevelt institute? Is that FDR's Roosevelt? I just wish more people would study the 1921 depression(which was more sever than the 29 one) and see what govt did to end in 2yrs. Only an idiot will believe that theres not going to be pain after all that reckless spending, wars and borrowing and we vote for limited govt because we believe its the best solution for the situation ( and every other situation).
this guest is clearly a retard. not enough stimulus? what? pump in another 5 trillions printed money into the economy? quadriple the national debt again? completely trash the dollar? so that the unemployed will have to face rapid rising prices? I mean thats such an idiotic argument, not enough stimulus, he can always say that no matter how big the stimulus is
I don't think the guest understands that stimulus and QE have the same effects. All and all it is just pumping more money into the system. I could understand if US currency was only government issued and not tied to debt, like the greenbacks of Lincoln. Our money today is not independendent of debt. QE and stimulus have essentially the same effect. If they really wanted to stimulate why not just loan tax payers their own money. That would have been better than giving it to corporations
Wasn't Obamas policy the Bush policy of Keynesianism? Keynesians spend (or what they call stimulus) and rack up more debt in order to keep a bubble from being that bad.
IN MY OPINION TOM, YOU`RE A "GATE KEEPER". YOU ARE SPEAKING FOR THOSE WHO PAY YOUR SALARY.
IT`S LOUD AND CLEAR TO ME. JUST AS OBAMA WAS LOUD AND CLEAR TO MYSELF ( AND OTHERS) WHEN HE WENT TO WASHINGTON DURING HIS CAMPAIGN AND HELP SIGN INTO LAW THE 1ST BAILOUT ( THAT NOBODY WANTED BUT THE BANKS AND THE POLITICIANS).
THE REAL NEWS IS NOT ASKING THE HARD QUESTIONS. WHAT WOULD HAVE HAPPENED IF THE SAME AMOUNT OF MONEY WAS DISTRIBUTED EVENLY TO EVERY AMERICAN CITIZEN?
WHAT DOES THIS CLOWN (TOM FERGUSON) MEAN BY SAY "THE STIMULAS WAS TOO SMALL..."?
I THINK WHAT HE DOESN`T ADDRESS IS, WAS WHO SHOULD HAVE BEEN "STIMULATED" AND WHO SHOULDN`T HAVE BEEN "STIMULATED" DEFINITELY, THE BANKSTER / GANGSTERS SHOULD NOT ONLY NOT BE "STIMULATED", THEY SHOULD HAVE BEEN BROUGHT UP ON CHARGES..OF FRAUD...
HOW COME THE REAL NEWS DON`T THROW THE HARD QUESTIONS?
WHAT DOES THIS CLOWN (TOM FERGUSON) MEAN BY SAY "THE STIMULAS WAS TOO SMALL..."?
I THINK WHAT HE DOESN`T ADDRESS IS WHO SHOULD HAVE BEEN "STIMULATED" AND SHOULDN`T HAVE BEEN "STIMULATED" DEFINITELY, THE BANKSTER / GANGSTERS SHOULD NOT ONLY NOT BE "STIMULATED", THEY SHOULD HAVE BEEN BROUGHT UP ON CHARGES..OF FRAUD...
WHAT DOES THIS CLOWN (TOM FERGUSON) MEAN BY SAY "THE STIMULAS WAS TOO SMALL..."?
I THINK WHAT HE DOESN`T ADDRESS IS WHO SHOULD HAVE BEEN "STIMULATED" AND SHOULDN`T HAVE BEEN "STIMULATED" DEFINITELY, THE BANKSTER / GANGSTERS SHOULD NOT ONLY NOT BE "STIMULATED", THEY SHOULD HAVE BEEN BROUGHT UP ON CHARGES...
Some of you people just don't get it! Let me tell you who really running this country further and further down to the ground. The super fucking CORPORATE rich! They are the ones who controlling everything in this country. THey make all the decisions to screw over citizens and they use the so-called politicians as puppets! As long as people allowed them to do all this bullshit, nothing will ever change for the better!
Look, laissez-faire policies are mythological! Not only have they never been practiced, but they CANNOT exist. It's a contradiction: you cannot have capitalism and small government in the same society. If you fear big government, work for some form of anarcho-socialism!
@jdearman77 yes Bush took us into war and Obama just gone along with it by passing the 2 biggest defense budgets (adjusted to inflation) in US history. That without adding the Iraq nd Afghanistan war supplemental bills worth hundreds billions of dollars.
I say you stop criticizing Bush till Obama shows any sign of slowing this spending
It's a planned drawdown for the working/middle class. Why didn't they guarantee housing prices at the beginning of the crisis? They want to create third world conditions, plain and simple...
I propose and overseas minimum wage strategy where overseas workers should be paid at least half American minimum wage and working up over 10 years to be on par with minimum wage to allow foreign countries to develop their economy and for American companies to see value again in keeping businesses local. Do it! Do it NOW!!!
The only solution is to raise taxes on the rich. The very rich especially. And the subsidies to outsourcers and certain agribusinesses and certain war contractors need to go.
@dangerouslytalented taxing the rich is not the solution, if you hike the tax for the rich, there wouldnt be anyone to tax because they would leave the country along with their money and their companys, it will cause more unemployment and less tax revenue
@topthickproducer U should understand I am not rich by any means and yes i too would like to c a redistribution of wealth from those super rich to people like myself. But rasing the taxes wont do it, the rich will leave and the poor will be poorer, this is socialism, the honest portion of rich people already pay more taxes than they earn from their company, should they be driven bankrupt? The problem lies in the giant corperation's who seeks political favours from washinton, and u know the rest
@billychen13 Let the wealthy leave, they can pay for private mercenaries to keep them safe in the third world and such. With the vaccum left by the so called "rich" there's plenty of infrastructure and opportunity to create new companies that have a better deal for workers compensation and the shareholders will keep their investments instead of the fraudlulent behavour we see today.
@dangerouslytalented Thats a terrible solution!! taxing capital during times of "depression" is what is always recommended and all it does is force the "very rich" to hide their wealth outside of the country ie Cayman Islands, Swiss Bank accts and investments in other nations. Just look at the current trends, all of the capital outflows to tax haven nations like Singapore, China, India etc. We need Govt to get the hell out of the way and allow this "recession" to hit us full force
@dangerouslytalented The rich can/will/have/are easily moving and hiring an army of lawyers to figure a way around most taxes.The rich via the net can move to tax havens and run a business and stay in touch with family with a click of the mouse.
GET A CLUE. Why not just tax everyone at 100%? obama and his crooks will take care of you.
@cpgone And with no government, they will get out of doing ANYTHING that does not personally profit themselves.
They may get out of SOME taxes, but not all. If the taxes are structured in the right way, then they will be able to avoid taxes by doing things like employing people, and therefore the taxes will help the economy.
@dangerouslytalented nobody is calling for no government, massive government is the problem, do u have a clue what cause the 2008 collapse? the government caused it, they lowered interest rates and garanteed morgages which effectively made all the banks to give every1 morgages they cant afford, without government involvement the housing bubble wouldnt have happened because the banks dont want people to go bankrupt because it hurts their profit, but because the government garanteed it it was okay
@dangerouslytalented massive government mean massive taxes, the government bombs people in the middle east and wonder why they want to kill us, so they go and invade more muslin nations to create more hatred for americans. meanwhile using tax payer's money and benifiting the military industrial complex. thats what a big governments does, look at the soviet union, its a huge government and the government employs everyone and wats their success story? they collapsed under their own weight.
@billychen13 There has to be a balance. And at the moment the US has no such balance. The US government are spending WAY to much on certain things like agricultural subsidies and the military, not taxing enough to pay for it, and the populace, too are borrowing too much, and the ultrawealthy are hoarding too much of their wealth, so the populace has to borrow more to maintain their lifestyle. America has a MASSIVELY unbalanced economy, not as unbalanced as the Soviet economy, but getting close
@dangerouslytalented I agree with the balancing of the economy, but i think the only way to do it is to shrink the government, because thats where all the waste and inefficiencies r in the economy. the rich already pay a huge tax and the problem is when politician are corrupt , they bailout their friend on wall st using money from ur pocket. again i think major reform in the government is the only way so solve it. but if you just listen to the government You will dig urself into a deeper hole
@billychen13 It is unbalanced. Far too much spending on things like the military and contractors and subsidies for very profitable businesses, and not enough on basic services, not enough on regulation of financial services, not enough regulation on heatlhcare... The thumb is on the scales in favor of the ultrawealthy, no matter where you look. More government where the ultrawealthy benefit from it, too little where the ultrawealthy do not benefit from it.
@dangerouslytalented are you kidding me. We have spent trillions on the war on provety. Guess what we lsot the war. We pay for the poor to have some place to live, we pay their light bills, we pay for their education, we pay for their health care and eventually pay to keep many of them in jail.....enough all ready no more money for the poor!
@wph00 The war on poverty was working until the 70s when it was curtailed because of vietnam. When you have a massive underclass, there are no customers, and with no customers, you have no profits. The rich have been getting richer,and the middle class is shrinking, because the rich do not care about creating jobs, because there are no profits in creating jobs in America. Instead, they are putting money into dirivitives that do nothing but inflate themsleves and the price of fuel and food.
@dangerouslytalented EXACTLY!! Even multi-billionaires like Warren Buffett and Bill Gates are practically asking for the government to raise taxes on them!! When will the people do what is right and stop playing politics as usual??
@dangerouslytalented You should learn about history. Taxing the rich doesn't work. Have you considered the fact that the government spends WAY too much? Why isn't there a solution to cut spending and shrink government? That is a solution to the REAL problem: out of control government.
There has been a great redistribution of wealth, and it is NOT communism. The exact opposite is happening. Instead of everyone getting equal shares of the wealth, the top 1-2 percent is gaining an ever increasing piece of the pie.
@bushputz aka corporatism... It's really Communism in disguise but however you want to view it it will not be a better way of life for anyone interested in liberty.
@bushputz what i meant by redistribution of wealth was from the top 2 the bottom.I do however agree that the exact opposite is happening where the top1% is unfairly getting alot more and not putting back in2 the economy at the expense of the middle class and have a monopoly on everything in the form of Corporate capitalism.My concern is how broad the term rich is. It could mean the top 10/15/20% and over taxing that income bracket will spell disaster. Incentive to work harder will b lost
@bushputz do you know y that happened? it because of the government. i mean just look at the bailout, all the money went to the bankers who r in bed with obama. hiking taxes is not the solution, the government need to stop bailing out their buddies on wall street.
@Boyd0006 tax their real estate, they can't move that anywhere. least ways if the super rich leave we might be better off because they can't bribe our leaders anymore. Where are they going to go. Alot of their havens like Dubai are more fucked then we are and have social customs many will not appreciate, like Islam, and no drinking for instance.
If you think taxing the rich is called communism you have serious problems with your definitions of things.
@Boyd0006 most the the jobs they create are already in asia so good riddence. The real estate will still be here, and hopefully the prices will go down so ordinary people can afford it again.
I hope when the election is over the rand and ron paul trolls will be unemployed and lose their computer access. These arguments with anarchocapitalists are old and boreing.
@Dameocrat you are a fool ,I'm a long time fan of Ron Paul and the socialist dominated gov't money policies since the Fed and more under F.D.R. destroyed America, so why would anyone continue to follow the same path again and again. I hate both political parties, you should read a book called Triumphiant Plutocracy in which a Senator from So Dakota wrote about America from 1870 - 1920 in which he takes a decided Socialist stand but it shows how the End started then read Fabian Highway
Redistribution of wealth is capitalism. Corporations fund the state meaning capitalist shape it the way they see fit. This allows the state to transfer money from the poor to the rich through corporate welfare, tax breaks & subsidies. Programs that transfer wealth from the rich to the poor have been won through militant working class struggle and should not be done away with. Communism is state control of the means of production. Socialism is worker control of industry through workers councils.
@Boyd0006 There is no such thing as a free market. Capitalists are opposed to it & so are workers. There was a completely free market after the dissolution of the USSR & that lead to pure gangsterism. But after a decade there were winners & losers & the winners used their new found monopolies to create Putin, who has regulated the economic. Real-like capitalism will always end up as corporate capitalism as also happened in US with Gilded Age. Social security and medicare do not hurt anyone.
@Boyd0006 The social democracies of europe are not communists. They are social democracies. We were not communist under Eisenhauer when we taxed the wealthy at 90%. If taxation is wrong why did the founders allow it? You are not patriots. You are anarchists!
@Boyd0006 Well your logic doesn't hold up when you look at "social democracies" across the globe that have a tax system that re-distributes more wealth back into the economy, and have a lower un-employment rate. Sorry, but nobody except the wealthy Wall Street and Washington elite had the means to leverage all those toxic assets that crashed the economy. So there is one group that overwhelming deserve the blame and it sure as hell isn't Main Street and U.S. workers.
How can you talk about a 'stimulus' like Japan enacted and not talk about where that money comes from? Japan created money and backed it against the dollar by buying up T-bills! The US gets cheap goods but has to make another charge to the credit card. At a certain point, the output of the faux-economy won't cover the interest on the debt. We have no choice but to inflate the currency which destroys the middle and lower classes. This video ignores these facts. Ron Paul 2012!
Beave162 5 months ago
Obama's economic policy is succeeding in-so-far as it's destroying whatever is left of the private economy and middle class... So check out my latest entertaining vid on the subject.... Planned collapse is the Cloward/Piven/Obama/Soros deal....
JakeBlakeProject 8 months ago
Obama has failed us. Citizens wake up. NOBOMA 2012.
sailgoal 1 year ago
I can not believe nobody could see this coming when our industries and Government invested in other countries besides our own. I've seen this coming since the 90's. The real crime about this is the Chinese campaign contributions given to both Dems and Repubs starting with Clinton. This is a real crime with real live treason. We need Dungeons, Ropes, and Pitchforks. Buy Ammo
btigtime2 1 year ago
Paul,
You're right that Republicans are contractionary. The stimulus wasn't a complete failure, we went from 6.5% contraction to 2.5% expansion. Summers said the employment generated by the recovery however was about 1-1.5% under what the historical models predicted. I'd like to know why. Is it the depth of Real estate problems? Is it the continued comptetive pressure from China? Was it political?
derfilmmacher 1 year ago
@derfilmmacher I think it's fraud in the stats and the contraction didn't end. I think it's a fraud about employment generation, that outside of government it's negative and inside of government it should be negative because positive job growth from government tax-revenue stream(s) is actually damaging to the economy, not helping it.
ytgv3fc7 1 year ago
Paul,
You're right that Republicans are contractionary. It seems to me though that there is a schism in Republican party which is a big story that no one will talk about.
derfilmmacher 1 year ago
I'll be the first to say I have know idea what the fuck to do.
SmellyJunkie 1 year ago
the banks aren't lending cause they want shit to fail, so they can buy it all up for pennies on the dollar.
;d
666norton420 1 year ago
I love the idea of shutting down the gov. It's boneheads like Jay and his socialist pundits who find the only way to prosperity is by spending money you don't have. What a load of crap. No more bailouts, no more 'stimulus', and no to socialism.
bbburton 1 year ago
@bbburton ya, shut down the gov.... have fun with that!
idiot.
;d
666norton420 1 year ago
@bbburton this kind of socialism, printing money and spending what can't be recovered, has to go. The kind of socialism that needs to come into force is decentralized, open-source transparently calculated spending with clear need. Like keeping manufacturing going so the skills aren't lost forever, nor the equipment needed to keep pace with global advances. Lose that and your nation is lost, so the cost to support is necessary. A nation is only a colony of other nations with no manufacturing.
ytgv3fc7 1 year ago
@bbburton of course if you want zero-spending from socialism no matter what, that choice is workable. Zero-recovery to manufacturing in North America works fine so long as you are willing to move to the nations where the manufacturing still is, or if you can afford investments in those companies now so your meager non-farming non-manufacturing wages are supported by returns on those overseas investments. If you can do that, good for you.
ytgv3fc7 1 year ago
re: too small a stimulus. No, it was too large but worse, it was directed at the banks. The worst way to spend money is to give it away free to banks. The best way is to directly invest it into small business to grow jobs and to decentralize real economic stability, rather than to centralize real economic crisis. The stimulus could have been 50% the cost and directed only to small business and manufacturing and today would look much better. Much better. Those banks must fail. They're all frauds
ytgv3fc7 1 year ago
@ytgv3fc7 said "it was too large but worse, it was directed at the banks."
A large chunk of it was tax cuts too.
I'm with you though, direct fiscal stimulus, such as investments in infrastructure, is the way to go. We need more of that.
jstncbllr 1 year ago
@jstncbllr more infrastructure but the right kind: more rail, electric trains and public transit, less freeways / highways and less support for large airports. It's a mess now, they have no intention of taking back the mis-spent money from the bandit-bank recipients. So far that I can see the nearest thing to beating them is sticking with gold and silver for money, before turning to guns.
ytgv3fc7 1 year ago
@ytgv3fc7 The bailout was separate from the stimulus. It was atrocious. He should have broken up the banks. If the democrats don't replace obama in the primaries, I am voting green party.
Dameocrat 1 year ago
@Dameocrat that will be the time to do it.... the republicans will most likely have palin or some other idiot going against obama, so you don't have to worry about the "don't vote 3rd party and let the insane Rs to win".... they won't, not with an idiot like that on the ballot.
;d
666norton420 1 year ago
@Dameocrat I don't regard the bailout and stimulus as being separate. They have common cause and common recipients. The whole thing's a sham. Obama is a tool of Goldman Sachs, nothing more. A puppet. It wasn't obvious before the election, unfortunately, but what can you do? As an American choosing Democrat or Republican you only choose which puppet will help the elite rob you. It's the same end-result. sorry for your luck
ytgv3fc7 1 year ago
Peter Schiff is right about one thing: taxes not collected is only money being kept that is earned properly AND tax dollars aren't being spent efficiently by American government. End-result: tax cuts are not deficit increasing. Because tax cuts that are not reversed are just acts of 'taking' (theft?) which are not happening. Currently corruption is so rampant, government and corporate, until it's small business and individuals with savings, America's done like dinner. Present the fork please.
ytgv3fc7 1 year ago
@ytgv3fc7 said "tax cuts are not deficit increasing because tax cuts that are not reversed are just acts of 'taking' (theft?) which are not happening."
This is just semantic wankery. If you keep spending constant and lower taxes, the deficit does indeed increase. By definition, yo.
The fact that you (or that crank P. Schiff) believe taxes are theft has no bearing.
jstncbllr 1 year ago
@jstncbllr NO, it's NOT semantics and a claim of such is a FRAUD.
Constant spending? What imaginary world are you living in that spending MUST be constant?
It must NOT be constant. It must be measured, and in fact, reduced. Military budgets and bribes and pay for politicians could be cut and that would be more than half the tax revenues for the USA as-is, effectively doubling spending capacity with no tax increases.
The fact an expert like Schiff is a 'crank' to you shows you're a fool.
ytgv3fc7 1 year ago
@ytgv3fc7 Hey, I'm with you on cutting the military budget and fighting corruption. And increasing small business/individual wealth.
I didn't say spending *should* be constant. I said *if* it were constant. To put it simplistically:
Deficit = Spending - Income
If you decrease income (tax cuts) the deficit increases, assuming constant spending.
Schiff's a crank because he believes in the free market fairy. His ideas (mostly) don't help normal people, they help the rich get richer.
jstncbllr 1 year ago 2
@jstncbllr ah, I see what you mean. Schiff isn't stupid but he isn't telling a straight story. Ok, I can agree with you on that. I posed a question more than once that he hasn't responded to, and he does read youtube comments. If regulations were minimized, minimum wages gone, total free-market rule, what would an American wage BE, moving jobs back from China/Asia? Would it meet cost of living? No response on that. Because if an hour's wage buys a loaf of bread that's a sad story.
ytgv3fc7 1 year ago
@jstncbllr pretty much I've backed up my arguments about why free-markets don't work, without positive response from many Schiff-worshippers. I follow him, and I like most of his opinions, but I question this sharply. Free markets employ fraud without direct and constant supervision to smack fraud down and punish it severely. Markets on their own turn to fraud rather than stopping it. Create scarcity to give value to products where no scarcity existed naturally. Creates poverty deliberately
ytgv3fc7 1 year ago
@jstncbllr I suppose another fair question to poke at Schiff himself is how he thinks a free market can fix anything before there is one in relation to central banks. Central banks set interest rates and print money. This means to have a free market all central banks in the world need to be NULLIFIED. This might mean war or it might mean gigantic economic turmoils in transition. Does he support that? Will he attempt it? Will he even suggest it, or just avoid the question? It's a big one.
ytgv3fc7 1 year ago
@ytgv3fc7 Right on. Very good questions.
The only thing I don't agree w/ you about is commodity based currency. I'm no expert, but it seems like a technological step backwards from fiat currency. Fiat currency avoids some instability inherent in commodities.
That said, I *do* think the Fed has been misrun and needs reform. It needs to focus more on keeping unemployment down. It needs to be more transparent and accountable to the people. Greenspan (a Randian, barf!) was terrible.
jstncbllr 1 year ago
@jstncbllr unfortunately the current times have shown the continued history of fiat currencies to be a step backwards in terms of both stability and honesty. Unstable money based on fraud doesn't do us any good. Can we have fiat that doesn't do this? Having gold or silver instead pretty much takes away the power of money-printing, and being elements, we can confirm purity and weight without anyone's promise using various tests. It's been stable before, very long-term.
ytgv3fc7 1 year ago
@ytgv3fc7 Fiat vs commodity is too complex for youtube discussion. But it seems to me gold provides a false sense of stability, and gives us less control over the domestic economy. I find these points convincing:
bit ly/9AswdY
Bernanke's talk on gold's role in the great depression is also interesting:
bit ly/Acbq
jstncbllr 1 year ago
@jstncbllr as for unemployment, I don't think central banks can or do try to control unemployment using monetary policy. It just doesn't work. Monetary policy doesn't control innovation, doesn't control job skills training, doesn't control immigration, doesn't direct investments to anyone at any time who needs any for business. So pretty much I think it's attempting to use a hammer to fix a stainglass window. Not viable.
ytgv3fc7 1 year ago
@ytgv3fc7 said "I don't think central banks can or do try to control unemployment using monetary policy"
I'm no expert, but do I agree, in the *current* situation anyway, monetary policy is useless.
jstncbllr 1 year ago
@jstncbllr another aspect of free-market failure is consumer vs producer. A non-producing consumer has no leverage to fight with: everyone can charge any unfair price they want and a consumer will pay or go without. If it's life-critical things like food that's a survival-threat. A balanced market requires every participant to be a producer of some leverage equal to other participants, not a consumer. ALSO critical goods like food, water, healthcare, can't work in free markets, supply/demand dyn
ytgv3fc7 1 year ago
@jstncbllr supply & demand dynamics fail completely for critical goods. The reason is that people will die or be badly injured/sick without those critical goods so there is no price balance: people will spend ALL their money and borrow more, out of need for survival, when prices are driven up too high by markets relative to savings+income combined. This is why socialized healthcare in Canada actually makes more productive workers AND SAVERS that America doesn't have.
ytgv3fc7 1 year ago
@jstncbllr as you can imagine, no matter how much I hate the Keynesian money-printers and their ponzi-paper fraud they call money, and enforce so I must be paid in fiat and convert at a premium into something of value like gold or silver for value-storage of money-earned (or I have no incentive to save, and therefore no incentive to WORK more), I really want Schiff to answer all these important issues with Austrian economic theory. I doubt he will dare, these are not easy questions.
ytgv3fc7 1 year ago
@ytgv3fc7 I wonder why the founders gave the congress the power to levy taxes if they thought taxes were theft?
Dameocrat 1 year ago
@Dameocrat power to levy what they called theft (taxes): good question
ytgv3fc7 1 year ago
I think we're likely to see more stimulus spending, because the top call on that is Geithner and Bernanke who don't get voted in. They call the shots on printing money and they will not even answer at all, or straight answers, to anyone elected nor to anyone in the public about it. Ever.
ytgv3fc7 1 year ago
Original Tea Party = Formed to end corporate welfare for the East India Co,
Modern Fake Tea Party = Formed to protect corporate welfare for elitist super-rich
tmo7759 1 year ago 2
I guess the liberal majority came home at 5pm.
Dameocrat 1 year ago
Well Ferguson is right but for the wrong reasons. Yes the status quo will continue, simply because they aren't letting bad debt get liquidated, and quantitative easing will continue.
And yes government spending has to go WAY down. That includes the military!
sirellyn 1 year ago
Why no mention of the military in this economic talk. Doesn't it account for something like 50% of the deficit? Also, Ferguson has a comical demeanor. "I hope that is what I said." Instead of saying bye he says "Okay." lol.
NAes12 1 year ago
isn't it crystal clear that we cannot support all of the federal government's activities (at least at their current levels)?
at some point we need to have a national debate on whether we want more than half our incomes taken for these programs or if we should simply end these programs, freeing up people's income to spend on whatever they want, including charity!
i love that he knows quantitative easing is a bad idea.
redrajani 1 year ago
tax the middle class and the poor and dont taxe the rich. maybe that way people cant feed themselves and cant wipe their own ass that they will be desperate enuf to not vote and change the two party system and bring socialism, capitalism doesnt work too much exploitation of the worker, resources, nature etc.
solimiansky 1 year ago
stimulus ''TOO SMALL'' well FFS..., it should say ''Stimulus fund went abroad for multinational interests deprived of any loyalty to the tax payers''
EasternGateGuardian 1 year ago
If any one of u morons wanna live in that kinda world then fine. I dont want to live in a place where no matter how hard you work your always going to be pulled down to the same level as people below you due to the system. Most rich people get there by working hard and making smart investments. Penalising that seems wrong to me. Raising taxes may work, but there are options before it comes to that. Everyone seems to agree that govt. needs to get smaller and need to greatly cut their spending
Boyd0006 1 year ago
@Boyd0006 The first place to shrink gov't is to END-THE-FED.
jibbi4one 1 year ago
@jibbi4one absolutely agree mate (even though the fed really isn't govt :P)
We also need to stop all the mindless hate in the world. Yes, that means on youtube too! lol
take care
Boyd0006 1 year ago
@Boyd0006 YES. I agree-take care.
By the way on the Japanese ecomonic reprieve, didn't the Japanese begin to save money since this was Japanese debt money not like in the U.S. where this debt money is foreign owned.
jibbi4one 1 year ago
@jibbi4one Not too sure. maybe someone else could chime in on that one
Boyd0006 1 year ago
@Boyd0006 Unless you are in the top 5 or 10% your statement is absurd! You seem to have a disconnect from how things actually work. What you are arguing and reality have nothing to do with each other.
Your argument is untenable. The fact that you start your statement with a sentence that contains "u morons", shows you are having some problem with logic --this is an ad hominem and in no way will advance your argument or agenda.
Knossos22 1 year ago
@Knossos22 I knew someone would comment on the "you morons" statement. If you actually had any idea then u would know that it was in retaliation to several hateful messages sent to me with no other motivation behind it other than trolling and spreading hate. difference in opinion shouldn't call for that. The only ppl that should take offence to it are the people that are guilty of that and they know who they are
Boyd0006 1 year ago
@Boyd0006
It is easy to get sucked into being irritated. We / I / everyone should resist this sort of thing... Actually, you have stirred a good debate and it is in the debate that people often get their neurons activated! Good job!
Knossos22 1 year ago
@Knossos22 Yeah, its my fault for allowing to be baited but i'm only human.
I'm only throwing in my opinion of things in the hopes of getting my mind around the ideas that are being proposed. If i'm wrong i can take it, but the hate is something that gets to me even though i shouldn't really let it. I guess it's partly because like for many others in the world, these are tough times and ppl are hurting. the cracks are starting to show.
stay safe
Boyd0006 1 year ago
@Boyd0006 “I dont want to live in a place where no matter how hard you work your always going to be pulled down to the same level as people below you due to the system. “
Who the hell is proposing this? You are blowing this up into a doomsday emotional response. Ridiculous! Working hard to get ahead 10X is one thing. 100X, 1,000X, or 10,000X is an entirely different! Seems like you have been listening to too many soup salesmen. These kinds of pyramids do not work.
Knossos22 1 year ago
@Boyd0006 In fact not everyone agrees we need to cut taxes and spending. The majority would like to raise them on the rich. I believe most modern rich people make their money on inheritance or speculation, and those that didn't are probably creating most of the jobs elsewhere other than the us. Leastways I would only give tax breaks to those who can prove after the fact they provided jobs in this country. They don't get a tax break on maybes.
Dameocrat 1 year ago 2
@Dameocrat agreed. but they shouldn't have taxes raised on them on maybes either. companys that outsource need to be taxed more. I'm just worried that when ppl say rich they will be grouped with the "well off" that make 75-500k so it needs to be more defined. And by cutting spending, i mean in terms of the military industrial complex to free up resources for the production of more useful things like consumer products that everyday ppl will actually spend their money on.
thanks for ur comment
Boyd0006 1 year ago
Anything worse that sitting on piles of idle cash (banks) is cash being used for war death or make inefficient temp work projects (gov't) creating inflation.
GET REAL real news.
.
The REAL reason the Great Depression ended after WII is because returning vets and small businesses needed to provide services with skills learned during war period. Gov't stepped back & didn't play persistent favors w/ big business. Stable prosperity happens when you buy and sell in markets of scale.
jibbi4one 1 year ago
Obama said we should be "grateful" for his recent tax cuts. As if ALL our money fucking belongs to the government and we are lucky they only take 30%. Its my fucking money and i should keep ALL of it. The government doesn't "lose out" on jack-shit if they cant collect income tax, because its NOT THEIRS IN THE FIRST PLACE. All the tax money goes to pay the federal reserve bankers anyways!
Its fucking criminal. Ron Paul 2012.
NoahHoe 1 year ago
@NoahHoe quit using the internet, the highways, the streets, the interstate the freeways, the bridges, the public schools, the us mail, and never ever collect social security.
Dameocrat 1 year ago
End the FED!
JebBlack2010 1 year ago
realitys what u make it. so whos real news is it..
carlthelycanwolf 1 year ago
Comment removed
carlthelycanwolf 1 year ago
Thomas Ferguson is a retard, the stimulus was too small?
lol, so he wants the Fed to just create more money out of thin air and devalue the dollar even more?
sktigerjs 1 year ago
@sktigerjs Keep in mind how much was taken out of the system by banks not lending and people not able to borrow against their equity. So yes, the stimulus had to be at least a trillion.
Zakdayak 1 year ago
"extending the bush tax cuts would add to the deficit."
I think you mean SPENDING will add to the deficit.
DanNinjaMan 1 year ago
End the FED and you end the fraud and economic disaster
michielma 1 year ago 2
Obama was too little too late.
blackiron60 1 year ago
@blackiron60 not really obama inherited a disaster and no1 can argue with it, but he has made problems a lot worse now.
billychen13 1 year ago
hahahahah open your eyes.. this is full of lies .....
Eirexeyes 1 year ago
Rich ppl can't have it all and not pay for it, poor ppl can't always have nothing and being forced to pay for everything. Pretty easy!
kaxitaksi 1 year ago 2
How is people keeping they're own money adding to the deficit? Why can't the government run on they're own budget properly?
xxashyy 1 year ago
@xxashyy firstly Fed Reserve Notes are not anyone's money but those who own the Fed Reserve. The govt borrows that money AT INTEREST from the Fed Res. What you call "your money" is actually a debt that must be repaid back to the Fed Res in the future. That is why "keeping they're own money" adds to the deficit.
In fact, if people continue to use Fed Res notes the deficit will only get bigger and bigger no matter what the govt do or tell you.
venuecam 1 year ago
@venuecam listen to this man, he knows whats up
Boyd0006 1 year ago
debt forgiveness.....or debt repudiation....take your pick....it will be one or the other....
fowzie777 1 year ago
The Republicans will lose seats in the House this Tuesday.
The dirty little secret of this year's polls is the dramatic increase in "wireless only" households. 25% of US households have no landline. This is up from 10% in 2008. Pollsters only call landlines.
Wireless only homes are overwhelmingly young, politically active, and Democratic. The current polling samples are inaccurately skewed towards old, white, conservative voters.
Republicans are in for a rude surprise Wednesday morning.
Richardgwm 1 year ago
Obama's stimulus worked perfectly and all the scare stories turned out to be rubbish. People don't understand how fucked up the situation was and how good we (the entire world) got away. It could have been much worse. But they failed to set up a proper, international regulatory system for financial institutes.
FreakishDonQuixote 1 year ago
@FreakishDonQuixote "But they failed to set up a proper, international regulatory system for financial institutes" & "Worked perfectly"
Sort of cancels out, don't it?
venuecam 1 year ago
Very good interview! At 3:57 “threaten to shut down the government.” Why should those involved in inflicting pain on millions of people be working? Why should those supporting illegal wars be working? Why should those supporting the bank$ters be working? It would be good for the troops to come home and for congress to close up offices because of their crimes.
Gridlock will show even the zombies that this government has failed. Expect even worse times to come.
iknownothingnow 1 year ago
Tax cuts for the middle and lower classes. Thats the best way to put money in peoples pockets.
cory2146 1 year ago
Stimulus too small, but the increasing the money supply won't work....how do you pay for the stimulus then? All Paul Jay knows is the Keynesian school...there are other ideas here. Get Marc Faber on here.
mphailey 1 year ago
@mphailey There is a hue difference between throwing more money at rich folks who use it to speculate and giving it to ordinary folk who run small businesses or a household who will actually cycle the money into the economy.
klard 1 year ago
Fooking Banksters win!
jhi1947 1 year ago
Break US give Independence to all States (Which they are crying for ) and let them Live Peacefully away from Zionist Controlled Economy ....... Simple Solution
mrnawanshehr 1 year ago
good interview
SurferRosa79 1 year ago
How about giving the treasury control over issuance of it's own currency, by ENDING THE FEDERAL RESERVE? Care to address that Paul Jay? We all know the fed is NOT federal, but rather a PRIVATE bank. As a PRIVATE bank, do you think it feels responsible to the American people, or to it's own profits? END THE FED!
mcetcher 1 year ago
I do agree quantitative easing is a bit of a vicious circle. Where money goes to where no one is getting any benefit of it. But ask, why are we raising taxes for it to go to banks? A tax hike is the LAST thing you want to do because it's proven RIGHT HERE that it goes to NOTHING. CUT the TAXES! Let the people SPEND their OWN money. And who friggin cares if the superrich are spending, at least they're spending.
guitardds 1 year ago 2
"Obama's economic policy failed, GOP will be worse"
The title should be changed to "FED's Ben Bernanke monetary policy failed! QE1 aka debt monetization didn't work, the QE2 will be even worse and may unleash inflation pressures unseen since late 70'!"
RemiG2006 1 year ago
Too small a stimulus? Lets destroy the currency faster!
What a moron.
largo2001 1 year ago 2
@largo2001 The stimulus that was injected during WW2 was much greater. If stimulus can work by making bombs to blow up then obviously stimulus can work to build things we can keep for a long time....schools, roads, factories, ect.
sabiki74 1 year ago
@sabiki74 Please tell me you dont really believe we got out of the great depression because of ww2. Cos if destruction of resources and man power is what we need to get us out of this economic slump, then am not even sure i want economic recovery
uche007us 1 year ago 7
@sabiki74
Then, why don't I destroy all the schools so that we can have more stimulus?
I grow tired of Keynsian crap.
largo2001 11 months ago
Glass steagall!
slade420 1 year ago
Roosevelt institute? Is that FDR's Roosevelt? I just wish more people would study the 1921 depression(which was more sever than the 29 one) and see what govt did to end in 2yrs. Only an idiot will believe that theres not going to be pain after all that reckless spending, wars and borrowing and we vote for limited govt because we believe its the best solution for the situation ( and every other situation).
My only wish is that u interview Tom Woods next
uche007us 1 year ago
@uche007us reinstate FDR's Glass-Steagall law, And start NAWAPA to create 4 million jobs right away
slade420 1 year ago
this guest is clearly a retard. not enough stimulus? what? pump in another 5 trillions printed money into the economy? quadriple the national debt again? completely trash the dollar? so that the unemployed will have to face rapid rising prices? I mean thats such an idiotic argument, not enough stimulus, he can always say that no matter how big the stimulus is
billychen13 1 year ago 2
LOL did you really think the tyrants were going to free you?
you must do it yourself. quit asking for permission to be free
It all starts in your head and ends in how you operate in your community
Ctupper1990 1 year ago
Ok; so i'm moving to Brazil!
mmagar5754 1 year ago
I don't think the guest understands that stimulus and QE have the same effects. All and all it is just pumping more money into the system. I could understand if US currency was only government issued and not tied to debt, like the greenbacks of Lincoln. Our money today is not independendent of debt. QE and stimulus have essentially the same effect. If they really wanted to stimulate why not just loan tax payers their own money. That would have been better than giving it to corporations
Quranite 1 year ago
Wasn't Obamas policy the Bush policy of Keynesianism? Keynesians spend (or what they call stimulus) and rack up more debt in order to keep a bubble from being that bad.
VexZeez 1 year ago 2
they should have done nothing...all the crap would have been flushed out already...now it's still lingers and stinks to high hell
mike6459 1 year ago 3
Comment removed
ajr5086 1 year ago
We are supposed to listen an economist from an Institute named after FDR? Please. This is beyond stupid. How about some real news?
VoteLib3rty 1 year ago
@VoteLib3rty I propose you do not speak out or comment anymore and just watch and learn from more informed individuals.
youngbuck189 1 year ago
@VoteLib3rty agreed the real news network is going down the drain with these stupid guests who want a even bigger stimulus.
billychen13 1 year ago
This has been flagged as spam show
IN MY OPINION TOM, YOU`RE A "GATE KEEPER". YOU ARE SPEAKING FOR THOSE WHO PAY YOUR SALARY.
IT`S LOUD AND CLEAR TO ME. JUST AS OBAMA WAS LOUD AND CLEAR TO MYSELF ( AND OTHERS) WHEN HE WENT TO WASHINGTON DURING HIS CAMPAIGN AND HELP SIGN INTO LAW THE 1ST BAILOUT ( THAT NOBODY WANTED BUT THE BANKS AND THE POLITICIANS).
THE REAL NEWS IS NOT ASKING THE HARD QUESTIONS. WHAT WOULD HAVE HAPPENED IF THE SAME AMOUNT OF MONEY WAS DISTRIBUTED EVENLY TO EVERY AMERICAN CITIZEN?
getonid 1 year ago
Tom Ferguson is a man who I respect.
He's also interviewed in an excellent documentary called "Golden Rule: The Investment theory of politics" which I highly reccomend.
PersianPaladin 1 year ago
This interview really shows how the post-'recession' policies are finalizing the NWO
skipabeat03 1 year ago 2
WHAT DOES THIS CLOWN (TOM FERGUSON) MEAN BY SAY "THE STIMULAS WAS TOO SMALL..."?
I THINK WHAT HE DOESN`T ADDRESS IS, WAS WHO SHOULD HAVE BEEN "STIMULATED" AND WHO SHOULDN`T HAVE BEEN "STIMULATED" DEFINITELY, THE BANKSTER / GANGSTERS SHOULD NOT ONLY NOT BE "STIMULATED", THEY SHOULD HAVE BEEN BROUGHT UP ON CHARGES..OF FRAUD...
HOW COME THE REAL NEWS DON`T THROW THE HARD QUESTIONS?
getonid 1 year ago
This has been flagged as spam show
WHAT DOES THIS CLOWN (TOM FERGUSON) MEAN BY SAY "THE STIMULAS WAS TOO SMALL..."?
I THINK WHAT HE DOESN`T ADDRESS IS WHO SHOULD HAVE BEEN "STIMULATED" AND SHOULDN`T HAVE BEEN "STIMULATED" DEFINITELY, THE BANKSTER / GANGSTERS SHOULD NOT ONLY NOT BE "STIMULATED", THEY SHOULD HAVE BEEN BROUGHT UP ON CHARGES..OF FRAUD...
getonid 1 year ago
This has been flagged as spam show
WHAT DOES THIS CLOWN (TOM FERGUSON) MEAN BY SAY "THE STIMULAS WAS TOO SMALL..."?
I THINK WHAT HE DOESN`T ADDRESS IS WHO SHOULD HAVE BEEN "STIMULATED" AND SHOULDN`T HAVE BEEN "STIMULATED" DEFINITELY, THE BANKSTER / GANGSTERS SHOULD NOT ONLY NOT BE "STIMULATED", THEY SHOULD HAVE BEEN BROUGHT UP ON CHARGES...
getonid 1 year ago
Some of you people just don't get it! Let me tell you who really running this country further and further down to the ground. The super fucking CORPORATE rich! They are the ones who controlling everything in this country. THey make all the decisions to screw over citizens and they use the so-called politicians as puppets! As long as people allowed them to do all this bullshit, nothing will ever change for the better!
Artist1974CH 1 year ago
"It's not wise to put the dairy farmer in the position of selling discounted fresh meat to save the farm"
~~carefulcarpenter
carefulcarpenter 1 year ago
George Carlin was friggin' right!...they will grab social security.
usergently 1 year ago
Look, laissez-faire policies are mythological! Not only have they never been practiced, but they CANNOT exist. It's a contradiction: you cannot have capitalism and small government in the same society. If you fear big government, work for some form of anarcho-socialism!
QuatFax 1 year ago
Actually BUSH is the reason we got into this economic mess, not obama. we wasted hundreds of millions, billions of dollars in iraq (a false war)
and btw, BUSH Was in office when the ecomonic collapse happened. dow fell under 6000 and now is back to slmot 12000.
jdearman77 1 year ago
@jdearman77 yes Bush took us into war and Obama just gone along with it by passing the 2 biggest defense budgets (adjusted to inflation) in US history. That without adding the Iraq nd Afghanistan war supplemental bills worth hundreds billions of dollars.
I say you stop criticizing Bush till Obama shows any sign of slowing this spending
uche007us 1 year ago
It's a planned drawdown for the working/middle class. Why didn't they guarantee housing prices at the beginning of the crisis? They want to create third world conditions, plain and simple...
r0ll0t0masi 1 year ago 8
@r0ll0t0masi Right,they want as many poor desperate people as possible so they are willing to work for nothing.
themeaningoflife38 1 year ago
Suckers!
BeantownJim 1 year ago
I propose and overseas minimum wage strategy where overseas workers should be paid at least half American minimum wage and working up over 10 years to be on par with minimum wage to allow foreign countries to develop their economy and for American companies to see value again in keeping businesses local. Do it! Do it NOW!!!
stevenweir76 1 year ago
@stevenweir76 Hell the republicans want to eliminate the minimum wage in the USA!
themeaningoflife38 1 year ago
The only solution is to raise taxes on the rich. The very rich especially. And the subsidies to outsourcers and certain agribusinesses and certain war contractors need to go.
dangerouslytalented 1 year ago 7
@dangerouslytalented taxing the rich is not the solution, if you hike the tax for the rich, there wouldnt be anyone to tax because they would leave the country along with their money and their companys, it will cause more unemployment and less tax revenue
billychen13 1 year ago
@billychen13 So, according to your 'trickle-down' theory, we must bow to the rich and hope they throw some bones to us.
So, you really think we should bend over so the rich stay here.
You should be fighting the outsourcing corporations, instead of accepting the super-rich's economic theories.
topthickproducer 1 year ago
@topthickproducer U should understand I am not rich by any means and yes i too would like to c a redistribution of wealth from those super rich to people like myself. But rasing the taxes wont do it, the rich will leave and the poor will be poorer, this is socialism, the honest portion of rich people already pay more taxes than they earn from their company, should they be driven bankrupt? The problem lies in the giant corperation's who seeks political favours from washinton, and u know the rest
billychen13 1 year ago
@billychen13 Let the wealthy leave, they can pay for private mercenaries to keep them safe in the third world and such. With the vaccum left by the so called "rich" there's plenty of infrastructure and opportunity to create new companies that have a better deal for workers compensation and the shareholders will keep their investments instead of the fraudlulent behavour we see today.
DoctrinaBytes 1 year ago
@dangerouslytalented Thats a terrible solution!! taxing capital during times of "depression" is what is always recommended and all it does is force the "very rich" to hide their wealth outside of the country ie Cayman Islands, Swiss Bank accts and investments in other nations. Just look at the current trends, all of the capital outflows to tax haven nations like Singapore, China, India etc. We need Govt to get the hell out of the way and allow this "recession" to hit us full force
CASTILLOM1 1 year ago 3
@dangerouslytalented The rich can/will/have/are easily moving and hiring an army of lawyers to figure a way around most taxes.The rich via the net can move to tax havens and run a business and stay in touch with family with a click of the mouse.
GET A CLUE. Why not just tax everyone at 100%? obama and his crooks will take care of you.
You are simply jealous of rich people.
SMALLER govt., is the only real solution.
cpgone 1 year ago
@cpgone And with no government, they will get out of doing ANYTHING that does not personally profit themselves.
They may get out of SOME taxes, but not all. If the taxes are structured in the right way, then they will be able to avoid taxes by doing things like employing people, and therefore the taxes will help the economy.
dangerouslytalented 1 year ago
@dangerouslytalented nobody is calling for no government, massive government is the problem, do u have a clue what cause the 2008 collapse? the government caused it, they lowered interest rates and garanteed morgages which effectively made all the banks to give every1 morgages they cant afford, without government involvement the housing bubble wouldnt have happened because the banks dont want people to go bankrupt because it hurts their profit, but because the government garanteed it it was okay
billychen13 1 year ago
@dangerouslytalented massive government mean massive taxes, the government bombs people in the middle east and wonder why they want to kill us, so they go and invade more muslin nations to create more hatred for americans. meanwhile using tax payer's money and benifiting the military industrial complex. thats what a big governments does, look at the soviet union, its a huge government and the government employs everyone and wats their success story? they collapsed under their own weight.
billychen13 1 year ago
@billychen13 There has to be a balance. And at the moment the US has no such balance. The US government are spending WAY to much on certain things like agricultural subsidies and the military, not taxing enough to pay for it, and the populace, too are borrowing too much, and the ultrawealthy are hoarding too much of their wealth, so the populace has to borrow more to maintain their lifestyle. America has a MASSIVELY unbalanced economy, not as unbalanced as the Soviet economy, but getting close
dangerouslytalented 1 year ago
@dangerouslytalented I agree with the balancing of the economy, but i think the only way to do it is to shrink the government, because thats where all the waste and inefficiencies r in the economy. the rich already pay a huge tax and the problem is when politician are corrupt , they bailout their friend on wall st using money from ur pocket. again i think major reform in the government is the only way so solve it. but if you just listen to the government You will dig urself into a deeper hole
billychen13 1 year ago
@billychen13 It is unbalanced. Far too much spending on things like the military and contractors and subsidies for very profitable businesses, and not enough on basic services, not enough on regulation of financial services, not enough regulation on heatlhcare... The thumb is on the scales in favor of the ultrawealthy, no matter where you look. More government where the ultrawealthy benefit from it, too little where the ultrawealthy do not benefit from it.
dangerouslytalented 1 year ago 12
@dangerouslytalented are you kidding me. We have spent trillions on the war on provety. Guess what we lsot the war. We pay for the poor to have some place to live, we pay their light bills, we pay for their education, we pay for their health care and eventually pay to keep many of them in jail.....enough all ready no more money for the poor!
wph00 1 year ago
@wph00 The war on poverty was working until the 70s when it was curtailed because of vietnam. When you have a massive underclass, there are no customers, and with no customers, you have no profits. The rich have been getting richer,and the middle class is shrinking, because the rich do not care about creating jobs, because there are no profits in creating jobs in America. Instead, they are putting money into dirivitives that do nothing but inflate themsleves and the price of fuel and food.
dangerouslytalented 1 year ago
@cpgone keep coddling the rich. they love that while they hate you.
Umberto2 1 year ago
@dangerouslytalented
"only"? just that absurd statement highlights how stupid you are.
how about rounding up useless peasants like you and shoveling them all into the sea? sounds like a far more palatable solution to me.
TheRedCapitalist 1 year ago
@dangerouslytalented EXACTLY!! Even multi-billionaires like Warren Buffett and Bill Gates are practically asking for the government to raise taxes on them!! When will the people do what is right and stop playing politics as usual??
F3dB3aR 1 year ago
@dangerouslytalented You should learn about history. Taxing the rich doesn't work. Have you considered the fact that the government spends WAY too much? Why isn't there a solution to cut spending and shrink government? That is a solution to the REAL problem: out of control government.
Unkn0wnGuy 1 year ago 2
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Boyd0006 1 year ago
@Boyd0006
There has been a great redistribution of wealth, and it is NOT communism. The exact opposite is happening. Instead of everyone getting equal shares of the wealth, the top 1-2 percent is gaining an ever increasing piece of the pie.
bushputz 1 year ago
@bushputz aka corporatism... It's really Communism in disguise but however you want to view it it will not be a better way of life for anyone interested in liberty.
venuecam 1 year ago
@bushputz what i meant by redistribution of wealth was from the top 2 the bottom.I do however agree that the exact opposite is happening where the top1% is unfairly getting alot more and not putting back in2 the economy at the expense of the middle class and have a monopoly on everything in the form of Corporate capitalism.My concern is how broad the term rich is. It could mean the top 10/15/20% and over taxing that income bracket will spell disaster. Incentive to work harder will b lost
Boyd0006 1 year ago 2
@bushputz do you know y that happened? it because of the government. i mean just look at the bailout, all the money went to the bankers who r in bed with obama. hiking taxes is not the solution, the government need to stop bailing out their buddies on wall street.
billychen13 1 year ago
@Boyd0006 tax their real estate, they can't move that anywhere. least ways if the super rich leave we might be better off because they can't bribe our leaders anymore. Where are they going to go. Alot of their havens like Dubai are more fucked then we are and have social customs many will not appreciate, like Islam, and no drinking for instance.
If you think taxing the rich is called communism you have serious problems with your definitions of things.
Dameocrat 1 year ago 3
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Boyd0006 1 year ago
@Boyd0006 most the the jobs they create are already in asia so good riddence. The real estate will still be here, and hopefully the prices will go down so ordinary people can afford it again.
Dameocrat 1 year ago 2
by the way, china is truly a commie country so evidently communism is better for the rich than what we have.
Dameocrat 1 year ago
I hope when the election is over the rand and ron paul trolls will be unemployed and lose their computer access. These arguments with anarchocapitalists are old and boreing.
Dameocrat 1 year ago 6
@Dameocrat you are a fool ,I'm a long time fan of Ron Paul and the socialist dominated gov't money policies since the Fed and more under F.D.R. destroyed America, so why would anyone continue to follow the same path again and again. I hate both political parties, you should read a book called Triumphiant Plutocracy in which a Senator from So Dakota wrote about America from 1870 - 1920 in which he takes a decided Socialist stand but it shows how the End started then read Fabian Highway
mikeoli 1 year ago
@Dameocrat
Yeah because force people to subscribe what the messiah and his party do would be such refreshment to society.
flynn2008 9 months ago
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Boyd0006 1 year ago
Redistribution of wealth is capitalism. Corporations fund the state meaning capitalist shape it the way they see fit. This allows the state to transfer money from the poor to the rich through corporate welfare, tax breaks & subsidies. Programs that transfer wealth from the rich to the poor have been won through militant working class struggle and should not be done away with. Communism is state control of the means of production. Socialism is worker control of industry through workers councils.
Xenu 1 year ago
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Boyd0006 1 year ago
@Boyd0006 There is no such thing as a free market. Capitalists are opposed to it & so are workers. There was a completely free market after the dissolution of the USSR & that lead to pure gangsterism. But after a decade there were winners & losers & the winners used their new found monopolies to create Putin, who has regulated the economic. Real-like capitalism will always end up as corporate capitalism as also happened in US with Gilded Age. Social security and medicare do not hurt anyone.
Xenu 1 year ago 2
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Boyd0006 1 year ago
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Boyd0006 1 year ago
@Boyd0006
Taxing the rich is not communism. There are no rich people in communism. Get a book.
frymastermeat 1 year ago
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Boyd0006 1 year ago
@Boyd0006 The social democracies of europe are not communists. They are social democracies. We were not communist under Eisenhauer when we taxed the wealthy at 90%. If taxation is wrong why did the founders allow it? You are not patriots. You are anarchists!
Dameocrat 1 year ago 2
@Boyd0006 i hate you fantasy-land types. what world are you basing this on? the only true libertarian paradise is somalia or iraq.
Umberto2 1 year ago
@Boyd0006 Well your logic doesn't hold up when you look at "social democracies" across the globe that have a tax system that re-distributes more wealth back into the economy, and have a lower un-employment rate. Sorry, but nobody except the wealthy Wall Street and Washington elite had the means to leverage all those toxic assets that crashed the economy. So there is one group that overwhelming deserve the blame and it sure as hell isn't Main Street and U.S. workers.
bigge525 1 year ago 4