A house of credit cards Pt2

[demonstrationclass8]

what the hell are part 1 and 2?

[arzoyan]

A classless,monyless,stateless communities of humanity in cooperation to take care of our needs and well being , expressing our creative energies in freedom of being. Capitalism is the manipulation of resources and technology for the private gain of a few in a monetary system that enslaves immense humanity in wage slavery of useless employment system that dehumanises and denies our human creative potential for a world of harmony within and without.

[jewishamericanchica]

This guy is an American Hating Marxist.

unions are no longer what they were. they are now an arm for the socialist Marxist infiltration and destructing of our culture and country.

[jamilliscious]

This guy is hilarious!

[seanwid]

Go kill yourself.

A union can't bring a company down.

Do you know how much the company top earns and how much a 5 day strike costs to a company?

wtf

[flexyco]

Look what your superior culture and country has brought you. According to the newspapers, 2.5 million americans are going to lose their homes in the coming months. Do you still believe neo-liberalist capitalism is the way for the future? That's what your culture advocates, brainwashed by the FED.

[golfprobro4eagles]

GM is not an american company so what do you care. They make so few cars in the usa now anyway.

[davidluk8]

I cannot agree with Wolff. UAW has just brought down GM.

[blazinexxx]

GM brought GM down... not the union.

[Renegen1]

I can't find the first section anywhere.

[WeAreWakingUp]

it's called "will obamas stimulus bill..." subsribe to the channel.

[colorsthemind]

google the guests names, check if they are legit. this isnt a bullshit news station that only let the guests speak for 1 minute!!!!. fuck its one thing being a skeptic but being a skeptic without any research is fucking retarded.

[colorsthemind]

i've been watching the realnews for awhile. this isnt a network set up by the CIA. OMG please watch the videos & their interviews do talk alot about everything wrong about the world, not just the USA. I mean they even brought on noam chomsky, and everyone knows how he is anti media due to corruption. So everyone please shut the fuck up and do some research before accusing the real news to be something that its not.

[yo1dude1man]

What happen to part 1?????

[valupak]

You Real News guys kinda drive me crazy, all the time! You make it darn near impossible to find "the next part", previous parts, etc. Can't you try harder to keep the titles consistent, the parts numbered clearly, etc?

[yo1dude1man]

Go to: therealnews(dot)com

click on (Topic) ECONOMY and view:

Will Obama's stimulus solve the crisis? Pt.1

A house of credit cards Pt.2

30's style jobs program needed Pt.3

[DynVec]

WHERE'S THE THIRD PART ?!?!?

[artist4africa]

If you're going to have a part 2 and 3. Please give them the same name as part 1.

[twylightsky2007]

why do comments keep vanishing?

[Attius]

"next segment" where's part 3 then?

[t4705mb6]

Don't believe ANY of this CRAP!

Workers unions are to corporations what credit unions are to banks - THE enemy! Unions were infiltrated by the Feds & corporations starting way back at the begininng of the last century. In fact, the cops and military were hired by corporations to murder unionists. Later the CIA inflitrated unions at the top using their pals, mafia connected assholes, sent in to screw the workers during "negotiations". Hoffa got whacked because he was going to rat. "REAL" news.

[principles101]

t4705mb6...I thought I was the only one seeing the "REAL" news as "NOT REAL" news. More propaganda. Look at the people they are featuring. This is an example of the government playing both sides. You are right on!

[t4705mb6]

When I first discovered the "REAL" news I was relieved. Then I started asking myself, why are they not touching on 911? Why aren't they talking about impeachment? Why aren't they DESTROYING the "Patriot Act"?? Why are they dealing in fluff pieces? Why are they giving Obama a pass?

This is a set up! I GUARANTEE that this is a CIA sponsored set up. We are being conned.....again!

[smkuhner]

Awesome interview!!!!!

[nowellian]

What crap!

Productivity increased, corporate profits went through the roof, corporate executive's bonusus were obscene. Union wages are not the problem. Corporate profits are the problem. Nationalize the corporations and provide products and services to the American people without all of the obscene corporate profits. Now is the time, the capitalist house of cards is collapsing. Greed and corruption are the problem. From each according to their ability to each according to their needs.

[hexzerg]

Bullshit, productvity has gone down big time in this country. We consume and import more than we export. The only thing that we really make good to export is food. This country needs to start making things and competing again.

[DennyMclain2008]

the unions were compromised by the 'globalists'.. this was all designed. globalism then passed nafta and the decline accelerated.

[GWBushsuks]

credit card companys are getting tougher on terms .credit lines being yanked .minimum payment lines increasing intrest rates are doubling, card transactions are being declined.

pay off your cards,live within your means .

simplicity of life or hardship of debt is the choice you make.

[blackiron60]

The American Dream is bankrupt.

[fywacia]

"The American Dream is bankrupt."

Not true! The American Dream was only supposed to be for rich, white, heterosexual males. And those people still enjoy the American Dream while the rest of us suffer from the American Nightmare. America has never been a free country either, just ask any minority and they will tell you just how free it is. But now that we've hit bottom and have just started to rot, hopefully the angry hordes will be at the mansion gates to take back what's been theirs all along.

[nowellian]

fywacia,

Now that we've hit bottom and have just started to rot, hopefully the angry hordes will be at the mansion gates to take back what's been theirs all along. Brilliantly said ,I could not agree more. But, most of those angry hordes will be poor, white, heterosexual males. Will you be able to get past your prejudice to join them and bring the real changes we need today. Heterosexual, white , males are not the problem - it is the rich! Be they black, brown, white, gay, whatever!

[twylightsky2007]

where is part one?

[cheddyrod]

the title is 'Will Obama's stimulus solve the crisis" I had to go looking for it also.

[Elin48]

twylightsky...that's what I'd like to know too!

[voteforpeace08]

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"All tyranny needs to gain a foothold is for the people of conscience to remain silent" Thomas Jefferson 1820

[GetMeThere1]

An excellent and informative couple of segments.

Is it too much to ask that they not be a chore to find/link up?

How about:

1) Same title, with different part numbers, so YT can link them in the side bar, OR

2) Link them forward and backward using the "response to/Video response" YT capabilities.

Preferably, both.

[billionaireby16]

Richard Wolf hits the nail on the head in this one, but I'm very anxious to hear his economic reforms that he'd like to usher into the economy....

[lllraverslll]

thank you

[LILUCKSMO80]

NO MORE PUT IT ON MY credit card those day's are over NO more zero down NO money no buying power the USA is made up of FREE credit but the world is not going to put up with it any more the USA is in so much debt that it will Collapse in two more year's since it as no more PONZI SCHEME CALL SUBPRIME SCHEME BUT THE OTHER BIGGEST SCHEME MADE UP BY USA IS CALL FAKE Democracy No more super Power OR FREE MONEY NO MORE BIG GDP!!

[vdubs4life1964]

A house of credit cards..... I like that

[oldhacks]

Wolf is such a bad ass. he spells things out in a way that it makes the facts inarguable.

[samdonuge]

doesn't he remind you of John Gotti? He looks like he belongs in the cast of Goodfellas.

[MichaelMogg]

LOL, I think its the open shirt.

[oldhacks]

yea he's laid back. yous should look up some of his lectures on youtube. he's got a good grasp on things.

[ddiiaa52]

knowledge is power!!!!

[flimflamman]

Does the 130% debt include mortgages. If it does, it seems pretty low. If not, astronmically high?

Also, where are parts 1 and 3 ?

[eryksun]

At 5:25 he talks about the average debt comparing the depression era to today. But that's just an average. A lot of people are rich and have no debt. A lot of people have been conservative with their money, paid of their houses (mostly) and lived within their means. But many haven't. Many are far more in debt than 130% of their income.

[eryksun]

The first video wasn't posted on YouTube (it may be now). I watched it on their main website. It's titled "Will Obama's stimulus solve the crisis'.

[Visfen]

No, the point of the comment is a straw man of capitalism that suggests that proponents for capitalism are against "all regulation".

Apparently Keynes haven't read Adam Smith. Which might be why he has come up with such a retarded economic theory that doesn't make any sense whatsoever.

[eryksun]

But the people's position has weakened while the 'demopublican' choices have sold out to the richest capitalists. Now the capitalists write the laws. It will only turn around for the common man when they're out on the streets in mass protests and riots. That's the only 'power' left to workers. And if technology continues to increase exponentially (putting overwhelming power in the hands of elites), the masses won't even have that power anymore. Then what? Slavery? Genocide?

[Visfen]

Yes, corrupt politicans suck balls, but the answer is not to, like some morons suggest, to completely destroy any incentive in the market to be self sufficient. This crisis was created by the government, not by the free market. Under capitalism power is not centralized, it is a fact of history that capitalism brign with diversity and equality, while government intereference seems to do the opposite.

Anyway, if you wonder where the US is going, look at Zimbawe, they've tried these policies.

[DonVoghano]

Lol Visfen, if government does not break up monopolies and fight corruption, capitalism quickly becomes a hellish oligarchy of crooks... Sadly the very same oligarchs use their power to prevent the gov from busting them.

[Visfen]

Yeaah?? I know. That's what Capitalism is about. A regulated free market system.

The problem is that the government is often the ones who stand for the corruption, then when that corruption leaks into the private sector moronic politicans blame the free market. You can't blame the free market! It does what you tell it to. It's like blaming a four year old for wreckign your apartment if you give him a lot of sugar and leave him unsupervised.

It's complete BS pushed by politicans who want power

[FreakishDonQuixote]

LEAVE THE FREE MARKET ALONE!!!

[cheddyrod]

Where can I find this FREE MARKET?

[FreakishDonQuixote]

in somalia

[MrMP81]

How in the world is he blaming wages?!

During the great depression, you also didn't have people owning 2 to 3 houses

You didn't have people with a car or 2 per family

There are many many factors that aren't being accounted for.

Then finally, during Clinton pushing for people to buy homes they couldn't afford, and Bush not helping by having Greenspan cut the rates to 1% in 2001 ( when we were suppose to go into a recession )

I don't know how these people are called " Economists " today

[teewillis1981]

I completely agree.

[Visfen]

Economics is a social science, which means it is incredibly politically engineered. Keynesian economics should be laughed at by what happened with the New Deal, instead it is used as an example of its success. Why? Because politicans like it, they get to play santa claus with everyones money.

While the conservative idea is that government is the problem, and if it's not, we'll make it. Democrats have the same view on the free market.

[MrMP81]

I don't know why you chose to reply to me about this because I agree with you lol

Keynes was also a Fascist. Good point you made about politicians liking his method " they get to be santa clause with everyones money " lol

[FreakishDonQuixote]

Austrian Economics appeals to (the more retarded type of) dogmatic conservatives, who can't stand the thought that government intervention can produce positive results or even might be necessary in certain situations. As an economic theory or viable stance in economics it's dead. it's to economic science what intelligent design is to biology...

[MrMP81]

Dude, I'm talking respectably in my comments as possible and your beginning to get on my nerves.

Listen to me, Go find one thing or time where Govt. actually produced " positive results ". A period where you had more positive than negative from it, as you say it's possible.

2nd. I never said Govt. can't do anything, I'm against anyone who tries to micromanage anything. A Corporation of thousands of employees can't do it, the hell makes you think politicians can.

[MrMP81]

People like you try to make the situation look so complexed with insults to distort simplicity in a problem. You can't wrap your pea brain around the fact that A & B = C

[fywacia]

The reason why our Government seems to be incapable of producing a positive result is because it's corrupted 100% from the top to the bottom. Everything they try to do is corrupted by big money corporate interests. Now the other choice is to go and depend solely on corporate America. That's already been a miserable failure, just look around and observe the carnage. Other countries have successful Governments when compared to ours. We need to take back out Government, it's the only way forward.

[MrMP81]

Right.

But to know " why " you had failure ( depending on business ) you have to know what caused " the failure "

Looking at other countries is a bad example in the sense, they have a fiat currency but they also have a socialist govt. and " No Empire " to maintain and their " Wellfare " system is alot more strict than ours.

[MrMP81]

In Simple terms, if our " Republic " was to be the way it was intended, simply put, this would be the scenario:

Our dollar would be backed up by gold which would then restrict what the govt. could and couldn't do.

The power would then be looked for through the people ( as they control the currency, not the politician or Federal Reserve )

Would you have corruption? Sure, but minimal at most.

The power would then return to the people and you'd have your Republic back.

It begins with the Fed.

[MrMP81]

Right now, we have a " Faith based " currency, we tell the world what something is worth not what it actually is.

Banks give out credit to what the Federal Reserve says and causes the booms and busts we see.

If it was backed by Gold, you couldn't do that even if you wanted to.

Credit comes from savings Capital is made from those savings and so forth.

Right now, we have computers, politicians and printers behind our currency.

[CyberCilypudi]

That's what the Globalist want you to think. Mises based his economic theory on human behavior and trading value for value. Your talk of 'government intervention' is why you're watching this video.

[eryksun]

He said on average people owe 130% of their income, plus Americans have negative savings. And real wages really have been flat since the late 70s, while the total US debt (public + private) rose from 5 trillion to about 55 trillion (in 2007 dollars). The GDP growth is inflated by dept. But nonetheless this fake GDP growth has financed the lifestyles of many billionaires in the last 30 years, who appropriated for themselves most of the so-called 'growth'.

[eryksun]

In case it's not obvious, 'dept' should be 'debt' above.

[eryksun]

The more important number is total debt as percentage of GDP, which went from about 240% in 1982 to 430% in 2006.

[FRTothus]

"Capitalism is the extraordinary belief that the nastiest of men for the nastiest of motives will somehow work for the benefit of all."

John Maynard Keynes

[Visfen]

Haha! Keynes admitting he doesn't know what Capitalism is.

It's the governments job to make the laws that are neccesery so that capitalism spawn benefical results. Capitalism doesn't have any morality, neither should it.

[teewillis1981]

Where did the easy credit come from? The Federal Reserve. This man, like most economist, miss the point. If you want a real analysis of the crisis, go to the Mises Institute. The Real news has yet to interview someone that truly understands what's going on. Hey Real News interview Tom Woods.

[FreakishDonQuixote]

yes, the mises institute... lol

[teewillis1981]

lol all you please.

[averageworkinggal]

Work Rules - that is what killed the US Unions.

It put a stranglehold on productivity gains and made their employers noncompetative.