Noam Chomsky on the economy and democracy Pt.3

[mattowine]

'a prima deluge' or whatever the interviewer said, GET REAL

[silverbeatful]

ffs.

just let him talk

- listen.

and perhaps learn.

[PADRAEG]

WE SHOULD ALL pay attn to Chomsky, left or right. In this segment, he nails it!

[muffinblighter]

This interviewer sucks. Why do you keep interrupting chom with your inane questions? How the he'll did you get in that office.

[funkymunkyzap]

Yeah, he's a smart guy. But he's just talking, let's see some numbers.

[EvenKeelMedia]

Watch: "Investor Watch" for expert advice on gold and commodity investing. You can find Investor Watch on EvenKeelMedia 's channel

[tryanjohnson]

I like Chomsky, but the left has tried to marginalize conservatives. Just as the craziness of the 60's led to the religious revival, because leftist don't acknowledge any aspect of conservatism, conservatism and the right are becoming more more paranoid and defiant. There are so many issues where the left can agree with the right but these two groups hate each other. Kinda like in Weimar Germany with the right and communists. There is no perceived middle ground.

[tryanjohnson]

The problem is that the average citizen cannot influence politics. Dem/Repubs are fundamentally the same, only they represent different parts of the economy and have slightly different rhetoric. It's like Mexico where the overlords run it all and own it all. Shame.

[LexPhilogus]

Chomsky is simply dead wrong, when he says that the U.S. is the only privatized system. The Swiss, Germans, and the Dutch, to name a few, have substantial privatization in their systems. There is no fully market based system in the world, and actually fewer single payer ones than many people think. Even the U.S. only has partial privatization, with 50 separate regulators and about half of the healthcare spending coming from public sources.

[tek051000]

Noam Chomsky is in my Psyhology book. Why don't they invite a real economist to explain economy and democracy

[Drewster2011]

Probably because he has a better understanding of the economy than most of them do.

[tek051000]

noam chomsky is not an econmist. hence, he will not understand as well as someone who is learned. how much do you know of him. (go quick wikipedia him and tell me everything you memorized. i'm sure you have no basis of your comment and you just wanted to disagree.)

[LexPhilogus]

@Drewster2011 You best be trollin.

[mgore90]

He's not really a Psychologist either, he's a linguist, he can pretty much turn his hand to anything. I think it gives him a better sense of context than many economists.

[tek051000]

i never said he was a pyschologist. i said he was in my psychology book. he is a brillant linguist. and psychology would be missing branches of theories without him. do you know any other economist? (usually, i'll wait to hear your reply, but this is the internet.) let me help you out: milton friedman and paul samuelson. you can't compare them to noam chomsky. i'm not saying noam chomsky is an idiot, because he's not. he's just not an economist.

[Drewster2011]

Sure, he didn't get a PhD in econ. But he is naming Joseph Stiglitz - a noted economist - in his response. The reason he can get away with talking about so many different concepts (history, econ, politics, psychology..etc) is because he reads the literature. His knowledge of economic history trumps many economists too. Economists dont have to be historians, just economists. He takes the time to learn a lot about a lot of different subjects - so his knowledge is a unique perspective in that sense

[LexPhilogus]

@Drewster2011 Chomsky is a genius for sure, but some of things you're saying are just unsubstantiated.

[Drewster2011]

@LexPhilogus

Okay... put a bit more substance in what your saying here. I have a hard time putting substance in my response because you are being too general.

[LexPhilogus]

@Drewster2011

Actually the burden of proof lies with the one making the claim.

[Drewster2011]

@LexPhilogus

And the point I'm getting at here is you need to address WHICH claim I'm making is unsubstantiated. You said "some of things you're saying are just unsubstantiated" ... which I assume means "some of the things you're saying are just unsubstantiated". So, say what in particular is unsubstantiated. Yes I have the burden of proof, but you have to tell me what is unsubstantiated so I can give you that proof. That's is why I said put a bit more substance in what your saying here.

[LexPhilogus]

Your claim that Noam Chomsky is more knowledgeble about economics than many economists.

[QuantumProphet]

DArth Vader was more knowledgeable in the force than young Luke, and yet, that did not make him the good guy in the movie. . .

[LexPhilogus]

So? Are you implying that less knowledgable is morally superior?

[QuantumProphet]

@LexPhilogus LOOK, Hitler was more knowledgeable in state matters than I am (he had experience), yet, I would not make mass murder.

Knowledge does not translate into right actions.

[dempsey981]

@LexPhilogus he he what a perfect dumbass question!!

[tek051000]

@LexPhilogus

I am interested if you follow an opinionist or where you get your facts just for my personal growth. Thank you.

[LexPhilogus]

@tek051000

The short answer is that the vast majority of Economists in this nation support Market Capitalism, and these people are diametriclly opposed to that.

[tek051000]

@LesPhilogus

that is most definitely true. besides the U.S. recent (if about 10 years, plus or minus, is short to you) turn of direction. U.S. economy was extremely powerful and people forget that we ARE one of the most conservative country out there. credit is never given when due. haha

[hugoegbert79]

Could all the Nazis on this video please fuck off to their Nuremberg Rally and KKK videos please.

[tryanjohnson]

Ok.

[NaziGermanTV]

each year GERMANY is EXPORT world-champion...

IN THIS BAD TIMES ?!....

germany in AFGHANISTAN..

each year AFGHANISTAN is world-champion for DRUGS/OPIUM !...

germany is One of the best TOP-Ten Supperters of CHINESE BARBARISM in Uyghuristan (East Turkistan) and Tibet,

and GERMANY is the best friend of the real islamic terrorist IRAN

NEVER BELIEVE YOUR PUUPET/SLAVED TV&MEDIA

[Sundrumify]

"Währet den Anfängen" "Be aware of the beginnings!" In Germany, the citizens were bombarded with propaganda, mislead, infiltrated with hate! Versailles was a deep wound, like 9/11 has been for the U.S. "Hurt the soul of a country, break the backbone, and their citizens will be your followers, to regain self-worth?" Germany went to the depth of barbarism. The more we understand why, history might not repeat itself.

Lisa from Munich

[LibertaerUeberAlles]

"Germany went to the depth of barbarism"???

For barbarism, look at the Judeo-Marxist massacre of ethnic Ukrainians and Russians. Historians tell us that 10s-of-millions of Christians were annihilated by the Marxists.

google:

Holodomor of 1932

CHEKA/NKVD

Lazar Kaganovich

Lavrentiy Beria

Genrikh Yagoda

The Marxists were Germany's enemy; and allies of the British[banking]Empire which initiated war -- and then waged an aerial campaign against German Christian civilians.

[bebopbopbebop]

What do we say about China's human rights violations in Xinjiang? Being the engine of world economy doesn't excuse China from its moral & political responsibilities. We have to be wary of any rising economic & political powers anywhere in the world. No country or individual in the world has the special right & privilege to do anything it/she/he wants to do just because it/she/he is politically & economically powerful. What would Chomsky say about China's bullying behavior in Asia?

[genYprogressive]

What Chomsky would say about Chinas human rights record is that there industiral base was in large part created by international banks and trade policys, those two go hand in hand. Much of what China does the U.S. is responsable for.

[sheepblitzer]

so he is advocating "critical support of what seems neccesary to patch things up" (~3:20)....

i agree with Chomsky on most things. but voting for Obama (a totalitarian leader of the One Business party), and supporting the bailouts (public money to ensure private profits); i think this is where we part ways.

the descriptions in parentheses are in his own terms. he seems to understand the devious nature and problems with these issues, yet he advises us to support them?

[karlosdeestocolmo]

He meant that the alternative was so much worse that the lesser of two evils was to be preferred. If I was american I wouldn't have wanted to vote for Obama either but I might just have done that so as to block McCain.

[sheepblitzer]

that's the thing. i dont see how Obama is the lesser of two evils, since both are puppets of the "business party" in his own words, and hence would ultimately do the same thing.

in fact, i think Obama is worse simply because of the positive auras and stigmas attached to him by so-called "liberals, " which makes criticism of him non-existant from a major portion of the country. at least McCain would be openly "evil." easier to deal with an honest wolf than a wolf in sheep's clothing

[sheepblitzer]

so he is still buying into the two-party myth, which he claims to oppose, by believing that one candidate is even an "alternative" (as you put it), to the other.

i think he is too afraid to to admit that the only true alternative to our current political system is revolution.

[monoboi]

Chomsky himself does not vote...

[intrepgun]

"the occasions when i do vote, which are pretty rare..."

monoboi himself does not quote properly whatsoever. what is your point, anyway?

your body is your ballot. waiting to pull a lever accomplishes next to nothing.

[monoboi]

ok ok chomsky votes only rarely.... at which times he apparently feels the need to validate the rotton corrupt system....? Is there ever a reason to participate in this way in that system in the usa?

[intrepgun]

it's not corrupt. mostly. it's just not run in the same way as they say it is, nor for the same reasons. which is obvious.

and yes, there is a reason to participate in such a system, namely that it's the only power structure people have some kind of say in. they certainly can't tell the huge multinational conglomerates how to do things.

there are times when voting is good, and using the system is good. mostly, direct action is better. "your body is your ballot."

[sheepblitzer]

" it's the only power structure people have some kind of say in"

what say is that? our government legislates things that 98% of the people are opposed to. like chomsky said, the candidates dictate their terms to the voter. face it the government rules us, not the other way around

and how is taking money from the people (taxes) and contracting or giving it out to the rich elite NOT corruption?

[intrepgun]

it's not corruption because that's how it was designed to work. once again, corruption is a specific term with a specific meaning. businesses don't want corruption in government, they just want it run in their interests.

and people, if they would just organize and get out of the anti-government mentality that only helps the government, they could organize and make real changes pretty easily. i believe in anarchy and libertarian-socialism, but we have to start with what we've got.

[sheepblitzer]

i know what corruption means. and i know our system was not intended to operate in this fashion.

our system was not designed to be run in the interests of a corporate elite at the expense of the people, or to have a private bank control our currency, our gov's spending, and a big chunk of our earnings.

our system may have been authoritarian from the start, but not this bad. deviating from its morals; no longer functioning the way it was intended: this is the definition of corruption

[sheepblitzer]

"if they would just organize and get out of the anti-government mentality that only helps the government"

so youre an anarchist who wants to stay in the government mentality, interesting. also, how does being anti-government help the government? please explain (i just figured being pro-government would help the government...call me crazy). and two, once your group is organized, how exactly do you plan on changing the system from within? what means are available for this?

[sheepblitzer]

i agree with one thing you said, that we need to organize. but i dont think the status quo has granted us methods to have itself changed or overthrown; only the illusion that such is possible to keep us passive and inneffective.

[stirrrrrr]

that would take enormous organizational effort to take any effect

so far i just dun see that happening

[YamaniNetsi]

Noam Chomsky is a self-hating nazi beast. Join JTF ORG to save Israel and America from savages!

[FranceParisian]

Watching this interview makes me wonder why he is called an intellectual-well at least on the issue of economy-he seem to be wrong pretty much about everything he says, only talks of generalities and no specific whatsoever.

And yet he talks about economy and seem to agree to the bail out. Just wondering

[blakiplops]

its called macro-economics.

[FreakishDonQuixote]

pretty much everyone who know something about economics agrees with the bailout. krugman & co didn't get the nobel prize for nothing you know...

[LibertaerUeberAlles]

No, the pseudo-economist, Krugman, didn't get the Nobel Prize for his work on bailouts. In fact, it is his supported Keynesianism which got us into this mess in the first place.

However, the Nobel bunch did previously award Milton Friedman the prize for his work on Monetarism, which inherently does not support bailouts. Instead, it supports inflation targeting.

FYI; I support Austrian theory. No central bank.

As for Chomsky, he's good at world affairs, but economically illiterate.

[FreakishDonQuixote]

Ok, nutcase. It's funny when people who have no clue try to look smart.

[LibertaerUeberAlles]

Anyone who references Krugman as an authority on bailouts obviously has no clue. It's not really funny though, but rather somewhat frightening that people can be so easily fooled into letting their standard of living be lowered for the sake of corporate profit.

[FreakishDonQuixote]

ok, austrian nazi guy.

[JagjeetMann]

@LibertaerUeberAlles Says someone who is a Ron Paul libertarian and a Nazi sympathiser (just looked at your page) what the hell are you even on? Krugman is a Nobel Prize winner in Economic sciences, he knows what he's on about, he's an economist and Chomsky was right to cite him. You need to READ.

[metalshredder]

@LibertaerUeberAlles

"the stability of the economy is greater than it has ever been in our history. We really are in remarkably good shape. It's amazing that people go around and write stories about how bad the economy is." - Milton Friedman, 2005

And Chomsky and Krugman are economically illiterate? And do you actually think its possible to be good at world affairs and economically illiterate? Aren't those two things pretty closely related?

[LibertaerUeberAlles]

@metalshredder

Is that quote authentic? Friedman's Monetarism is reasonably sound. But, ultimately, it's socialistic in nature and human behavior can't adhere to it. Many people say he got everything right except "the money."

Yes, I believe it's possible to be good at certain aspects of world affairs, yet be economically illiterate. Chomsky's strength is in analyzing rhetoric. Krugman's strength...in my opinion, he's a propagandist for the international banking cartel, The Fed, IMF...

[bonfirejovi]

@metalshredder Krugman is a trade economist, not a trained macro economist. Friedman was good for his time and very successful at predicting stagflation and reversing it but he got old and lost it imo. Friedman's monetarism ultimately wanted to keep the expansion of the money supply small which is not what Greenspan did. Oh and Chomsky is a pure economic illiterate, no two ways about it.

[Defsolid]

@bonfirejovi can you elaborate on Chomsky's economic illiteracy, as a none expert in economics i didn't perceive the latter in what he said. Thanks

[erikburman]

What I think Chomsky intends when he's talking about state intervention is to dismantle the forms of domination with the only means of legal potential influence by the population there is. Namely the government. In this simultaneously increasing the masses influence whilst decreasing the concentrated power of "private tyrannies" as well as the power of our "representatives".

[jeffmagic32]

and yet he defends the worst leftist regimes.

[thelaughingman]

he does?

where did he?

[jeffmagic32]

read his article co-written with Herman, called Distortions at Forth Hand. It is essentially a defense of the genocidal Khmer Rouge against what Chomsky and Herman see as unfair media attacks.

[thelaughingman]

I don't see how you think this is a defense of the Khmer Rouge. The article contrasts media coverage between Vietnam and Cambodia. He questions the unnamed sources and figures that are used in the media but does not give the khmer rouge and support. this quote summaries the article.

What filters through to the American public is a seriously distorted version of the evidence available, emphasizing alleged Khmer Rouge atrocities and downplaying or ignoring the crucial U.S. role,....(in Cambodia)

[LiquidYogi]

I think Jeff is saying it was much too hard to read the article objectively, and that he would much rather read it the way he wants to.

[jeffmagic32]

I've read it several times - each time I am outraged. Have you read it?

[blakiplops]

I'm afraid you misunderstood that article. its far from a defense.

[theropingeffect]

Support bailouts, world banks, Keynsian economics?

[JCJ77]

The undercurrent is that people are pretty tired of the statists. The democrats and republicans only real difference is they stand on different sides of wedge issues such as abortion and gay marriage. We are seeing fascism now people have recognized the fascistic creep over the past 10 years and its acceleration since September of 2008. Has the patriot act been repealed- nope. Just one example of a continuation of the status quo- the accelerated decline of the value of the individual.

[Zerofire18]

I wish Chomsky spoke more dynamically, I find my mind wondering. I was thinking, "Did I go to Wendy's twice yesterday?"

[ieodksnw787]

I'm going to start grad school (law) this fall, will things be better in three years?

[1a2b3cman]

capitalism = dictating democracy.

[hadtohappen]

Chomsky is brillant with linguistics and politics. But when it comes to economics he is doesn't have a clue. He seems inconsistent. He often speaks pro libertarian. But he offers BIG GOVERNMENT "solutions". I fear beauracracy more than guns. Maybe he shifts his rhetoric from "ideal" to "pragmatic"? And I am percieving this as inconsistency? Any Chomsky-ites out there to clearify for me?

[tehpistolpete]

He is opposed to bureaucracy and big government, but supports it as a temporary alternative to what we have right now, "private tyrannies" running around as he describes it. I'm pretty sure he ultimately supports a highly decentralized economy where workers manage themselves and own the means of production. Each community would manage their own economy. It's almost exactly the same as "anarcho-syndicalism." Wikipedia it if you're interested.

[doucher337]

He's silly as hell. Noam is old, and he doesn't understand that these massive multinational corporations thrive off of the state and its effects. Without the state, they wouldn't exist. He didn't think shit through, or he's just deceptive as hell (I think the latter is more likely).

[AbtinX]

You know Chomsky has written books covering "corporate socialism" in depth? :) Just saying it

[sqharawa]

Yeah, pretty much. Chomsky identifies as a "libertarian socialist," which is academic-speak for anarchist. Are you sure about the syndicalism though?

[sqharawa]

Chomsky identifies as a "libertarian socialist," which is academic speak for anarchist. Check out his book "Chomsky on Anarchism" for more. However, I myself am often confused by his advocating of increased state power to solve problems before turning to anarchism. Not so much in that I don't see it as the solution, but all anarchist philosophy I've ever read distinguishes itself from Marxist on precisely this point. (In regard to your bureaucracy comment, watch part 1 of this.)

[adorimbo]

I've heard Chomsky argue elsewhere that the aim ought to be to overburden the state to the point that the general population realizes it cannot satisfy its needs so it demands its dismantling. A similar idea is expressed earlier in Machiavelli's Discourse on Titus Livy in which he admonishes that transforming human nature is a pan-generational project, not something that can be realized overnight. He cites the example of Christianity's gradual rise from marginal cult to official religion.

[sqharawa]

Hmm... That's interesting. You don't happen to have a source for that argument do you? I'd very much like to read it!

[nurbsenvi]

can't hear a fucking thing.

[DNATS]

I can't hear shit of anything either.

[DevBlazed]

chromsky is a joke

[leebee39]

obama is a liar

[Mossadi007Stata]

As state&private sector officials renegotiate terms-of-payment w/shortterm aims to recirculate flow of capital and the longterm intent to eliminate debt,they shall rewrite the book so as to negate policies that:maintain food shortages,escalate pandemics

boost imbecility,accelerate pop growth,ensure sickness,nurture aggression,distort signal-to-noise of reality to obliviate pertinence,stall access to accurate info,normalize by perpetual rebranding.Failure resumes loss expansion at max velocity

[Hack2much]

Oh....but to think. Ahh, there is a choice...

[Psychogenius018]

Although Chomsky has written in detail about the corrupt system he has never given a critique of how the FED's monetary system enslaves us. This is as absurd as explaining the solar system in detail without mentioning the sun. This fact above all identifies Chomsky as an agent or an operative of some government intelligence agency...there is no doubt about it.

[Fighting89Back]

like Ron Paul?

[Psychogenius018]

No, ....Paul has criticized the FED ad nauseam as everyone knows.....what are you smoking?

[Paetaor]

But the standard of living dropped drastically during WWII.

There was rationing and shortages so the 'stimulus' didn't help the economy it just created weapons that created no wealth in themselves.

Maybe attacking Russia and China would help end the decession.

[KentAllard]

WWII mobilized the economy, might want to look up what that means.

[LILUCKSMO80]

The rest of the world has funded Western prosperity for decades, making the United States the greatest debtor state in history. As we can see today, this was a failed model and ideology. Now everyone must pay and be rewarded equally an idea the West abandoned long ago.

[LILUCKSMO80]

The issue of Western liberal democracy has been monopolized by the West, particularly the United States. The idea of democracy has been so badly abused over the past 20 years that it has been rendered almost useless and nothing more than an ideological weapon of mass destruction by the West

[LILUCKSMO80]

oday these words appear out of place, if not simply gibberish. With the exception of a few neoconservatives, a growing number of people in the West and the vast majority of the world are questioning what was unquestionable in the Western mainstream, for example: the role of the state in the economy, how the global economy should be run, and whether there should be engagement with groups now labeled as terrorists

[rea1001]

Noam is going loosing his mind in his old age.

[dtothediesel]

Robert Shiller, Dean Baker (the first to point out the housing bubble), Nouriel Roubini. Stop thinking that only people of your ideology were able to predict the crisis.

[CaptainKhrenov]

"Noam is going loosing his mind in his old age"

you must be much, much older, cause you can't even talk!

give it another try, crotchety old geezer

[Toxxic88]

Mr. Chomsky  is my hero. If only our political leaders listened to this man. *****

[ubercomrade]

agreed! if obama wanted a full perspective, he should have added him to his cabinet.

[AcePilot101]

Once the dollar collapses (hyper-inflation), the USA will rise up and eat the Liberals for lunch.

[taoofmichael]

The conditions which cause inflation -- too much money chasing too few goods -- are EXACTLY THE OPPOSITE of the conditions we now face. Too much money chasing too few goods would be a DREAM COME TRUE for our economy. So lets hope that happens. It wont, of course. But we can hope for the impossible anyway.

[mikepalomino]

Who will rise up exactly? The USA or the militant wing of the Radical Right? The two are not the same.

It is a sign radicalism when any group of people think themselves the ONLY bearers of a nation's fundamental values. Whether its the Mullahs of Iran, the Brown or Black shirts of Europe - you all have that same thread of extremism in common.

[GetMeThere1]

Chomsky was pretty good here (at last). He was able to speak intelligently and informatively, without selling his own ideology at the same time. Usually, it's difficult for him to restrain himself....

[mikezephyr]

levels of income distribution in the United States in 2008/09 are at the same levels as in 1928/29.

at the same time in germany of course, enormous revolutionary sentiment was co-opted by the national 'socialists'. i hear lots of americans 'blaming the jews'. scary shit.

[spartan2600]

who is seriously "blaming the jews?" I hear a lot of people saying "blame the Mexicans," there *is* evidence for this, Lou Dobbs.

[PorscheB06]

I don't think you can blame different ethinic groups for this mess. This mess was caused by Greedy, Wall Street Bankers, CEO's of Major Corporations,

all of the past Presidents for the last 40years, the Congress, the SEC, and most Americans who lived beyond their means.

[spartan2600]

I wasn't saying that I blame any ethnic group myself, I just have never, ever heard anybody blame anything on Jews in person. I have heard plenty of other blame all sorts of things on "Illegals" (re: Hispanics).

[LibertaerUeberAlles]

Caused by the central bank, the Fed. Many feel it should not exist, especially considering that it is essentially a privately owned money monopoly in government guise.

And yes, there is one particular ethnic group which always seems to be found at the helm...perhaps the same one which, in disproportionate numbers, just got massively bailed-out.

Though I don't believe in blaming ethnics groups, there are many who feel that Adolf was right in his support for the Haavara Agreement.

[LibertaerUeberAlles]

HAAVARA AGREEMENT

"[A]n official contract between the Third Reich authority and Zionist Authority benefiting the interests of both parties. Haavara was intended to promote both the emigration of German Jews and the export of German products to Palestine.[...] The outbreak of war in September 1939 ended the transfer practice." hubpages[dot]com/hub/The-Haava­ra-Agreement

[WheresTheInterest]

What did Chomsky really say at 9:07? Why was that edited? Is this the Real News, or the Real Edited News?

[GetMeThere1]

I think it's just clunky production. There's sort of a journalism "rule" that if you show "reaction shots" of the interviewer, they have to be REAL (typically done with two cameras). Sometimes people have fudged by just shooting "phoney" reaction shots and interspersing them throughout the interview.

I think this only happened because they tried to show an honest reaction shot--but had only one camera.

[kmg501]

All the people who came from the Austrian school of thought saw the bubble from a long way out. People like Peter Schiff and Ron Paul.

[dtothediesel]

This is simply not true. Many non-Austrians saw this coming as well.

[kmg501]

Such as who for example?

[FakeDaveRowe]

Yeah, that cut out seems strange. And I buy the one camera idea, but they do a much better job of editing the audio throughout except for this one spot. Makes it seem like he actually said the US healthcare system is excellent but pricey, and then later decided he better not say the healthcare system was excellent. Especially since going from excellent and expensive to sucks and expensive isn't any better.

[tonyman1989]

Chomsky is fucking awesome.

[brandonihidalgo892]

"what is it that noam chomsky said about eating pussy?" LOL

[barneybb3]

y'all get a grip. we will not explode. Massive Protests will stop the madness. Threaten the jobs of our public officials i.e. Senators and such, the elected, and we will turn the tide.

[winbri5]

Sigh! No matter who is in office, in the end the same question, Is there any Intelligence in Washington D.C.? They are all bought for by the special interests and never will do what the people want or need! Sigh!

[Packitlikesardines]

Hehe. I must say I am quite amazed at how "the world's greatest democracy" turned into a financially collapsing ,corporate lobbyist state. The person set to fix your economy (Geithner) is a pedigree wall street thug, breeded by the IMF and the New York Federal Reserve bank . He will not save the people, only the masters of the Milky Way.

[wdflannery]

No one saw the housing bubble ? It is surprising to see Chomsky so wrong. Even I saw the housing bubble. EVERYONE saw the housing bubble. If you bought/sold a house you knew there was a housing bubble.

[tokotokotoko3]

Well thats a bit contradicting. If you saw the housing bubble, but then actually bought a house, you must be even more stupid, right?

[leninstreet]

The US will stumble on it's own bullshit. The amount of bullshit being output is accelerating. The party is it's last few hours.

[coffeebeaner]

There's a really cood article by Robert Freeman on that:

commondreams(DOT)org/view/2009­/03/15

[BbdHome]

thanks

[tepstolog]

to put banks in to bankruptcy reorganization is the only solution ! and stop the foreclosures at the same time!

[369br]

If banks go bankrupt then so will the entire country & every single person. You wont get a pay check, because your payroll is in the bank earning interest. Businesses can't operate without the credit they get from banks & soon there would be no food either. As for the foreclosures, investor greed & finance companies that sold their mortgages to banks on the pretext that they were legitimate, are the ones responsible. Home appraisals have plummeted because they are valued at foreclosure prices.

[tepstolog]

no....,not at all !!!, this was done by FDR in the past by the way...! banks wold go under bankruptcy protection reorganization ,meaning, the commercial part of dealing with business , at a citizens and business level , stays uninterrupted .., ...

[RedOutcast]

Gramm-Leach-Bliley Act killed Glass-Steagel Act in 99. It was the straw that broke the camels back.

LONG LIVE THE ZEITGEIST MOVEMENT AND THE VENUS PROJECT!

[BMWizardofOz]

I think he is wrong with "It should be remembered that Germany went to the depths of barbarism in 10 years"

In the oppinion of the English e.g. we never went out of barbarism in the first place, and and before Nazi times there were nearly always gigantic problems, like the reparations and the loss of WW1, and before tat there were wars and no real stability either. And was first really unified in 1871 under prussian rule, with constant problems, and science didn´t stop in the "barbaric times"

[KentAllard]

what you're talking about isn't what he was refering to

[369br]

I think he is referring to Germany under Mussolini. When Germany collapsed most of Europe & the US followed. Mussolini"s govt became totalitarian & highly barbaric. Since gold was the standard in those days, & the Germany economy was matched dollar for dollar to gold, the value of gold plummeted. It was then decided that the US dollar was more secure since it was tied to Oil & other durable goods. All trade was measured by the US dollar after that.

[KentAllard]

oh okay I thought he was talking about Japan under Hitler

[BMWizardofOz]

No I think he is referring to Austria under Franco^^

[MustafaPresents]

No, he was referring to Canada under Mussolini.

[BMWizardofOz]

sure it wasn´t Spain under Stalin?

[truefakeness]

Geez man that was the longest first question I've ever seen in a damn interview.

[robbe21]

It was something like 02:17 to be exact.

Paul, you're great but when you are interviewing Noam Chomsky please -- let him do the talking.

[dEEpindEEd]

lol he was setting the scene..