The education system and the media systems are owned and operated by and for the God damn bankers, so ofcourse what Ron Paul is saying is not in any mainstream publication.
None of Al Capone's clubs, were down on the Mafia.
When the first guy disagreed that the poor were hurt more by inflation because inflation distributes evenly do you think he realized that poor people are considered poor because they have less money?
@BlindMaphisto He didn't. Keynesian economics is intellectually bankrupt. It's there to provide a cover for the government and the big corporations to rob people through inflationary spending.
bunch of fucking jews who keep wanting to give governmetn money they can loot, fucking jews legally stealing lol so fucking obvious why fed people all fucking jews?
I'm more pissed off at my parents and grand parents for allowing the laws to be passed that paved the road to this corrupt system we all suffer today. It is the fault of every ignorant American that we are in this crisis today. MYSELF INCLUDED. As Americans it is our first order of duty to make sure our government works for us, and when it doesn't it is our first duty to tare it down and build again one that does. Shame on all of us for our foolish understanding of freedom.
Inflation also has a multiplier effect: as the fuel to transport consumer products rises, the cost of manufacturing rises, the price of the product does not double but triple
The moral of the story is.....In a kaynesian type of economy, the rich keep getting richer....the poor keep getting poorer and the middle class shrinks to nothing and yada yada yada. Nuff said. RonPaul/CynthiaMckinney 2012 or whenever dreams come true. Lets make it happen.
Keynesian economics is a self-fulfilling prophecy that was only allowed to come true (mostly) because of the rich bankers who praised the ideals back when they were adopted. Now they've run out of new ideas and solutions, and the gaping holes in the theory are becoming more and more obvious.
@XxxThePsyCheMisTxxX People who casually support Keynesian economics are the same sort of people that think "Communism looks good on paper." They take it at face value and don't really KNOW Keynes, Marx, or whoever else's philosophy and the utter evil that drives it and becomes of it.
End monetary policy. It can't work now. We need fiscal policy. Cut payroll taxes to zero (for income under 1 million dollars, maybe). You will see growth because you will get the money to the poor and middle class. We will cause some inflation in the short run but we will get lower unemployment. We can balance the budget to end the inflation by cutting government programs as Ron Paul suggests. We could also end the wars now to help curb against some inflation.
i wish europe would learn about things so they understand how structures work, the EU is die hard socialist keynesian...they dont know what that means but its anti capitalism so they lap it up, what they dont know its a structure created to fail so they must really love recessions and their govs sellin off debt at the cost of our standard of living!
@worldofdraculas You're right! I can't imagine them either! I should have just assumed it in the first place, everything is fine! Hmmm, I think I'll go shopping...
@worldofdraculas they count on the minority understanding and sad to say caring!
lol...economic equality...whats that? the chances of that ever occurring deminish by the day, in every fiat note they print, every secret tax, every decieptful inflation rise, then fall! europe has allowed a welfare, risky and straight up elitist state to emerge and they call it socialism!
End the EU and every other foney union u have in mind!
I can't understand why he would post this for himself. Ball seems to me to demolish his argument in under a minute, but I guess a lot depends on what you believe already.
Why is it that before we had the fed the dollar of 1912 had the same worth as 90 cent from 1776. But since the fed's creation the dollar of 2011 is worth 2 cents of its original value from 1776. It's a con game and it needs to stop!
Dr. Ball (the first respondent) was one of my professors in college. Hearing his answer brings me back to his lectures and makes me realize that I learned nothing good about economics in college.
I know eh. I am taking economics in University and well... Its simply all Keynesian concepts. No alternatives.
Its like taking Political Science and learning only communism notions.. or perhaps taking Art History and learning only impressionism.... I feel like changing disciplines.
@HerroSpreen Wow, I just looked him up. The guy is a professor at John Hopkins?? How can someone with such a weak/lame answer be a professor at a school like John Hopkins? You don't need to have a degree in economics (I do, unfortunate?) to understand that price increases across the board affect the lower and middle classes much more than it does the rich. Professor Ball needs a light smack across the head.
@LibertyMike1 This professors aren''t there to educate. They are there to propagadize for the banking industry and the government. They intellectually back bailout economics, the military industrial complex, and government subsidies of big corporations. All under the guise of "creating employment" they destroy the American peoples savings through inflation
The three professors of Keysian sound like bumbling idiots so wrapped up in their own mind that they simply do not make sense based on any point in reality...Ron Paul is the man- Is it really that hard to understand that the more money is printed- or more t bonds purchased by the fed(promise to pay back with dollars in future) the less value the dollar will have- please someone tell me that they do not understand this simple principle...
Unfortunately the world is filled with lies and the liars that spew them. "Studies show inflation affects everyone evenly." LOL wtf. A five-year old has more logic than this. It certainly does affect everybody. End the fed.
RON PAUL, WE ARE STILL WAITING FOR AN ANSWER! TELL AMERICAN PEOPLE HOW EXACTLY RU GOING TO CREATE JOBS? OK LETS SAY ALL TROOPS CAME BACK AND THEN WHAT? THEY ARE GOING TO SELL IPHONES AND BLACKBERRIES? DUDE BE A MEN, HOW RU GOING TO CREATE JOBS? POPULATION OF CHINA IS 1.4 B CHINESE WORK LIKE ROBOTS, BE HONEST TELL AMERICAN PEOPLE TO BUY UR BOOK U NEED CASH , U LOVE POWER, U LOVE CASH, U WILL NEVER CREATE JOBS, U HAVE NO ANSWER!
Keynesian economics are a joke. It's a lot of "smart talking" bullshit that tries to over complicate simple principles that Adam Smith explained very well and seem to hold true regardless of the circumstance. Mainly the effect of the "invisible hand". The economy will go to where it needs to regardless of what kind of outside influence in exerted on it. A *true* free market with healthy competition, supply and demand will work it all out.
@BikerBry The Austrian Economists disagree with the INVISIBLE HAND idea because it negates the process which individuals use to make decisions and to act.
@csmguitar1 Actually, inflation causes unemployment. Ron Paul is stupid? Obviously, Keynesian economics doesn't work. It's simple really. The prices go down, more people buy. That creates supply and demand, creating new and more jobs. Once that happens, everyone starts buying more stuff when they get a job, creating even more jobs. I used to run my own business, and trust me, inflation causes unemployment.
@PipersGrip Do yourself a favor and google "Phillips Curve," because you're wrong. Prices may go down but so do wages and we know from Milton Friedmans work that individuals don't like seeing their nominal wages fall which triggers the "paradox of thrift" which causes AD to fall getting us stuck at an unoptimal equilibrium and operating under capacity.
Just because you own your own business doesn't mean you know anything about economics...
@csmguitar1 Lol, I know well what it is, but what I said wasn't wrong. What's wrong with what I said? Inflation makes prices go up, yet wages stay the same. Ron Paul is very smart and well studied in economics. To claim he is stupid is a very ignorant thing to say. You might not agree with him, but he is not stupid. Please quit acting like your opinions are facts. You sound like my father. We have different economical outlooks, neither is right nor wrong.
@PipersGrip How can you NOT be wrong? Please explain what exactly you think the phillips curve represents, because you claim that inflation creates unemployment when modern macro models suggest the complete opposite (which is why the Fed sets inflation targets). And no, the Austrian school (and by extension Ron Paul) is definitely not well studied in economics. Many people don't even consider it a social science at all.
Fractional Reserve banking is a mechanism for the power elite to steal the worlds wealth for them selves. It's the greatest theft in human history. END THE FED!!!
I felt stupid everytime ron paul got on TV and i didn't comprehend anything he was saying about the federal reserve and the economy because he only has a minute or two to explain his position. Found a really good site that cleared it up for me. hmscoop.com. Quick overview of banking and the federal reserve. If you're like me it might help to clear it up for you.
@LogicalFlawDetector I disagree with this but you're entitled to your own opinion, remember that the Chicago school has ties with advocating the federal reserve system, in micro-economics Austrians and Chicagoans are very similar, in macro is where their differences reside. It's this very system of monetary policy that have taken part in constructing and playing ball with while the Austrians reject the central bank entirely. I think this is important, especially in this subject.
1:14 is total BS. "Inflation of 2-3% is good for the economy" supposedly because it means that if prices are rising then people are consuming more because they have become more wealthy. WRONG. People are consuming more because they are being SCARED into purchasing. If I fill up my gas tank today because I'm afraid of an increase tomorrow, then consumption is going to go up. Inflation is only okay if money is not being printed AND if wages are increasing faster than inflation. They're not.
@KoalaBearWarrior As the professor said, inflation may be bad for the pooor, but unemployment is even worse. Can we have your opinion on the evils or benefits of being unemployed? For example, if (i say IF) you had to choose one, inflation or unemployment, which would you choose?
@macroman52 The Professor is an idiot: inflation and unemployment are not mutually exclusive. We have UNEMPLOYMENT AND INFLATION. The unemployment rate has dropped. Why? Because the people who were counted as unemployed are no longer counted as unemployed. Sounds great doesn't it? Combine that with printing money (1.5 trillion +) to prop up Treasuries and MBS and you've got a doomsday scenario, which is now. The dollar is screwed because of Keynesian economists like this clown.
The claim at 1:15 is complete bull. Rich people can easily pay the higher prices caused by inflation.The poor and middle class always suffer under inflationary conditions.
Wow. Inflation affects all people equally? I don't think so. How can anyone claim that an increase in the cost of living affects someone making $20,000 annually the same way it affects someone else making $200,000 annually? Sure they both see the same increase in prices but who can better afford those increases? This centralized control of our monetary system needs to stop. These self-important intellectuals are destroying this nation. I'm so thankful we have Ron Paul standing up for the people.
Listen again. The professor said that the aleternative to inflation was unemployment. He said unemployment hurts the poor more than inflation hurts the poor. He gave an argument, which you still have not answered.
Ron Paul is a moron if he honestly thinks the poor suffer from inflation. Inflation raises both the nominal and real wage while reducing the real value of their debt. From 1970-79, the annualized rate of inflation was 7.19%. The unskilled wage rose 8.00%. From 1980 - 1989, the annualized rate of inflation was 4.65%. The unskilled wage rose 4.02%.
Another danger of quantitative easing and direct financial stimulus is lag time. By the time the money begins to circulate in meaningful amounts and at meaningful velocities, the economy could very well begin an upswing. Such can create terrible short term inflation.
BTW Fechmeister I would argue that hyperinflation is already here. Look at how much food, energy, health care, and so many other items have spiked in price since early 2009.
@cepacol06 Keynesians are talking out of their butts. They treat capital like a homogeneous blob. To them a fork and a fork lift are the same. They don't take into account the true complexity of an economy and this leads them to ridiculous conclusions. Try arguing like an adult. You should go to Ludwig von Mises Institute website and read some of the literature on Austrian economics. It really is enlightening to learn how an economy truly functions.
@redmattuk The Phillip's Curve is merely a correlation. It says nothing about causation. Does inflation cause employment or does employment cause inflation? Or does something else cause both?
@PissedFechtmeister Well in Keynesian models and in the real world (as western governments currently operate within a Keynesian paradigm) Employment causes inflation; ^GS means ^Employment and ^Prices. Effectively it's how we all pay for the extra people doing things, it comes back to us via the price mechanism. But the government's policy is good en masse because more people are using their skills.
@redmattuk The US uses Keynesian economics as justification for its policies, but doesn't really use Keynesian economics. The US increases government spending in good times and bad. Tax cuts don't happen that often and when they do they aren't tied to the state of the economy.
You can't refinance a mortgage on an underwater property. The new mortgage will not cover the old mortgage (you usually can only get a loan up to 80% to 100%) many properties have mortgages that are 150% to 300% of the current market value of the property. How do you refinance in that situation? Who cares how low the interest rates are if most homeowners can't access the cheap money? The only thing being stimulated now is the house of cards stock market and corporate executive's pockets
It could be a coincidence but it occurs to me that Keynesians tremble when they talk about their ideology. It´s like they´re not confident about their beliefs.
That is true only in the short run. Government intervention via price and wage controls along with taxation, monetary policy and federally created or ratified monopolies creates long term unemployment.
@funisverygood The GD was caused by the Fed's loose credit policies. The GD became great because of Hoover and FDR's interventionist policies. Same as the housing bubble and subsequent collapse. Same as Japan's lost decade.
@njchampnj Then the economics Professor should study up on Mises and Free Market Austrian economics like Ron Paul did. You can study them for yourself at mises.org.
@cliffy827 I'm sure the economics professor knows Austrian School much better than the crackpot Ron Paul. Which would explain why said economics professor doesn't adhere to Austrian School economics.
@njchampnj Yeah what a crackpot Ron Paul must be to belong to a school of economics that produced a Nobel Prize winner and has been praised by many others including John Keynes.
@njchampnj Did this Economics Professor predict the housing bubble burst like the crackpot did back in 2003? Look it up for yourself here on you tube. "Ron Paul Predicted The Collapse in 2003 - Morning Joe 5/15/2009"
@cliffy827 If you make enough guesses, you're bound to be right at some point. True, most economists did not think that high housing prices were a bubble. But that includes Keynesians and Austrian School economists. Ron Paul talks so much and yet says so little. He makes so many wild accusations that's it's no surprise he got something right. The only good thing about Ron Paul is that he's not Rand Paul.
@njchampnj Except he didn't guess. Even Mises said government intervention would lead to a collapse. I'll find the exact quote if need be. Peter Schiffe predicted it. Lew Rockwell predicted it. Their next prediction is the collapse of the dollar and we're starting to see it. More people are running to put their money in gold than the dollar. China laughed at Geithner saying the dollar is fine. (cont.)
@njchampnj Geithner also announced we wouldn't devalue our currency. Well, Thailand said the same thing before it crashed. Did you read how Zimbabwe had to devalue their currency because everyone was a trillionaire? That's where we're heading with the whole fiat money scheme going on. Of course that's just another wild accusation from Ron Paul. When it happens I look forward to debating you again.
@njchampnj Here is the quote from Mises: "There is no means of avoiding the final collapse of a boom brought on by credit and fiat monetary expansion. The only question is whether the crisis should come sooner in the form of a recession or later as a final and total catastrophe of depression as the currency systems crumble."
oh I get it!. The reason why the poor and old people is because their income is fixed. The poor people don't get a raise so money value gets lower and they make the same amount of money so it hurts them.
You may want to watch some of the unofficial illustrated versions of these Paul broadcasts, which I've enhanced using my video archive. The first one is at
/watch?v=DrmRJxoaCmc
It should link you to the rest one by one.
Or keyword search "straight talk" on YouTube. That will bring my Ron Paul vids to the top.
Keynesianism absolutely cannot be implemented because central to its theory is massive tax cuts during a downturn. We haven't seen any tax cuts.
We can't cut taxes because we have run deficits for some 56 of the last 60 years and racked up nearly 50 trillion in debt when we count future obligations.
Austerity bills like those in Greece await us in our future. And if the dollar collapses like it likely will, we can expect the political turmoil.
@mongoose704 So you're basically saying, in terms of cutting taxes, we're in debt slavery at this point? We can't cut taxes because the deficit is too high? That's terrible
@njchampnj Wrong. The stimulus resulted in a 352 billion dollar net hike in taxes. Furthermore the record deficits and debt it is contributing to has committed us to long term tax increases.
The so called "cuts" written into the stimulus were essentially welfare payouts that were called "tax cuts" by Obama's spindoctors and those amounted to chump change in the grand scheme: Not enough to even generate a ripple in the macroeconomy. Most of the tax rates stayed the same or went up.
@mongoose704 I don't care for Keynsianism, but a lot of people don't understand that he suggested tax cuts during recessions and spending cuts during booms. Under Dems and Reps we constantly see spending increases and rarely any tax decreases. I think you're 100% correct. Austerity is coming, and if it doesn't then we'll see hyperinflation.
@PissedFechtmeister Exactly my sentiments. Media hacks like Krugman and Olbermann love to quote Keynes on public works and direct stimulus rather than the tax cuts Keynes also supported.
and once again you are correct. All we see are tax and spending increases. Even when we lower income tax rates we raise taxes on everything else. We hide a lot of taxes in the GDP. Taxes are on every item we buy.
And yes, austerity is coming whether we like it or not. It's a near certainty.
@mongoose704 Keynes said that government spending is more reliable then tax cuts. if the people getting the tax cuts save rather then spend them, you still have a recession. because business is ran by the animal spirits.
@orangedac Keynesian economics is only being turned to during bad times. if we actually had cyclically balanced budgets we would not have to barrow money to stimulate the economy. also the ideal inflation rate in the long run for Keynes would be 1-4 percent. also Keynes only wanted money pumped into the economy during bad times. the fed has been pumping money into the economy every time prices go down. so when the invention of better computers drove down prices more money went into econ.
Exactly how much of Keynes's work have you actually read, Little Muffin? Maybe when you've gone to college, earned a living, paid taxes and raised kids (or at the very least experienced your first orgasm) you'll understand.
@SmileAznStyle err Keynesian economics calls for cyclically balanced budgets. in other wards Keynes would have us run surpluses in good times and then use that money during bad times to bolster the economy.
What stupid research suggested inflation affects evenly across society? poor ppl live on day to day earnings. there remain poor. middle class & retired live on a moderate saving. inflation sucks out value of their saving. even a high skool kid knows that. Super Rich keep investing and live on huge profits and they get richer by exploiting ever increasing pool of poor ppl in the society.
These "experts" are convinced that the economy can only be managed by them with a tweak of a dial here and a yanking of a lever there. It never occurs to them that the monetary system should be such that it is self-regulating.
Return to a definitely defined dollar as a fixed quantity of silver, outlaw fractional-reserve lending, and let the interest rate adjust freely to encourage SAVINGS. All these experts are in the employ of the government and naturally don't want a self-regulating economy.
If inflation is distributed evenly across income groups, then Ron Paul is correct: those on fixed incomes suffer and their savings go down in value, because they don't have any way to keep up.
the working class has paid trillions via inflation. prices rise - time passes - finally wages go up - repeat. it's this gap in time between the rise of prices and the rise of wages that hurts the working class.
The type of fundamental questioning needed for the American people to fathom the scam that has been perpetrated by the elite financial class.
The FED is empowered to write a check to purchase anything it wants, backed up by NOTHING. We have given these so-called monetary experts the power to create gold out of nothing, as these checks could be used to purchase gold!
right now they are buying bonds to increase the money supply. the fed owns the biggest share of us debt. that's right we owe our self more money then anyone else. and a little less then 50% is held inside the us. the fed uses the debt they own to control the money supply. and of course the interest paid on that debt goes right back to the treasury.
@Nate2203 inflation hurts banks the most, and helps people who barrow money. it has an equal effect on poor and rich, although it does hurt retirees on a fixed income. although the effect of raising the rate of inflation one percent is small on them while it could help push the economy. increasing the inflation rate one percent will get business to invest on the margin. in other words a business on the verge of spending will spend.
@22439384 How does it hurt equally the rich and the poor? The poor are already barely making ends meet then inflation makes the prices go up on everything and they can't eat proper food because it's too expensive. For "rich" people, it just means they will have a little less buying power, maybe they have to keep their car for another year before they get a new one. Unnatural growth can only help the economy in the short term, holding off the collapse for a little while. It's just a little trick.
@Nate2203 poor people are more likely to be in debt though. if the dollar is worth less they do not have to pay as much. The rich probably have more long term bonds, that would lose value with inflation. you are right about it helping in the short run in that it will not cause a real increase to GDP in itself. what increasing the target rate of inflation will do is get business to spend some of the money they are saving before it drops in value, one point will affect people on the margin.
@macroman52 It's OBVIOUS to anyone with half a brain because inflation makes prices go higher, meaning the cost of living goes up, meaning it costs more to live, meaning the people who live on fixed incomes(retirees) and people who barely make ends meet(poor people) get fucked. Yeah sure, it helps people get loans for cars and houses and shit that poor people and retirees are not gonna get. You could say that it spurs the economy, yes, but it still fucks over the poor and fixed income people.
@Nate2203 Real wages don't change from inflation, and therefore purchasing power doesn't change much. It may be "OBVIOUS" to you that rising prices make cost of living higher but anyone with an economics background would say its not true. Wages go up at the same rate as inflation. Go get an economics degree and you can see equations and real life evidence that show it.
saame rate? refering to hume's quantiyt theory it doesnt. unles theres propopoartionate increse in proudctivity. even hume relaizedthis and he was an inflationist!
@Nate2203 This guy is my professor. Very smart guy, much smarter than Ron Paul. Laurence Ball has an economics degree, what does Ron Paul have? An MD. Dr. Paul should stick to his field of study and stay away from economics which he knows little about. Real wages don't change from low to moderate inflation. Unemployment, however, should be the main concern of fiscal and monetary policy in the Fed as it has documented profound effects on the poor and unemployed. Ron Paul is the idiot.
I hate piggy back riders. Carry your own weight...that what real team work is. Thats how you help others, is by not throwing your weight onto another to burden them.
Of there are temporary needs for others help.
but no one can help if their ability's are threatened to be taken. That's people maximum Freedom's...Economically and Personally. Its not obama, or clintons. or bushes understanding of team work...cause they don't want you to work...
How clueless was that first guy? If you take 4% of someone's money, that's going to hurt poor people more than rich people. If you have 20 cars, you might settle for 19 if you're rich enough. But if you only have 96% of rent after you pay for food, that's a bigger issue.
That IS a finite resource and it is about to run out too. All they have left to barter with is your freedom and we allow it. We need to take responsibility as voters for this mess. Shame on me too...
This has been flagged as spam show
"Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime."
The Chinese proverb that debunks Keynesian economics in two sentences.
TheMrNumeroUno 1 week ago
lol Dr. Ball looks a bit like Ben Bernanke in a way
jklolsu 1 month ago
Comment removed
bct2702 1 month ago
New Zealand for RON PAUL!!! Dam i wish we had a PM like him
ThePriya5345 2 months ago
The education system and the media systems are owned and operated by and for the God damn bankers, so ofcourse what Ron Paul is saying is not in any mainstream publication.
None of Al Capone's clubs, were down on the Mafia.
So too with the God damn bankers.
centurion180ad 2 months ago
Somebody explain what those two guys said. The only thing I know about the fed is what I can remember from Hazlitt's book.
Zimnyification 2 months ago
15 people don't understand economics
kafst26 2 months ago
ron paul just kicked your ass.
iluvpoliticzz 2 months ago 2
India for ROn PAUL 2012. Brilliant politician. Just can't understand the republican party not electing him. Hope it will all change
ktpremi74 3 months ago
When the first guy disagreed that the poor were hurt more by inflation because inflation distributes evenly do you think he realized that poor people are considered poor because they have less money?
BlindMaphisto 3 months ago
@BlindMaphisto He didn't. Keynesian economics is intellectually bankrupt. It's there to provide a cover for the government and the big corporations to rob people through inflationary spending.
bschou 2 months ago 3
bunch of fucking jews who keep wanting to give governmetn money they can loot, fucking jews legally stealing lol so fucking obvious why fed people all fucking jews?
bootiack 3 months ago
I'm more pissed off at my parents and grand parents for allowing the laws to be passed that paved the road to this corrupt system we all suffer today. It is the fault of every ignorant American that we are in this crisis today. MYSELF INCLUDED. As Americans it is our first order of duty to make sure our government works for us, and when it doesn't it is our first duty to tare it down and build again one that does. Shame on all of us for our foolish understanding of freedom.
bnewton81 3 months ago
Inflation is like playing with fire, ok.
Hyperinflation is very bad.Got that.
Deflation is worst.Of course.
So why not keep the money supply at a constant?
Not even some standard, just a constant total of money.
What happens then?
LancePoint9 3 months ago
@LancePoint9 no growth. if theres no inflation then theres no growth. what you want to look at is real inflation, instead of just nominal inflation
ASTEagle 3 months ago
Inflation also has a multiplier effect: as the fuel to transport consumer products rises, the cost of manufacturing rises, the price of the product does not double but triple
considering just these two variables
TheBlitz1 3 months ago
Keynesian
lovesideways8s 3 months ago
The moral of the story is.....In a kaynesian type of economy, the rich keep getting richer....the poor keep getting poorer and the middle class shrinks to nothing and yada yada yada. Nuff said. RonPaul/CynthiaMckinney 2012 or whenever dreams come true. Lets make it happen.
lovesideways8s 3 months ago
Keynesian economics is a self-fulfilling prophecy that was only allowed to come true (mostly) because of the rich bankers who praised the ideals back when they were adopted. Now they've run out of new ideas and solutions, and the gaping holes in the theory are becoming more and more obvious.
XxxThePsyCheMisTxxX 4 months ago
@XxxThePsyCheMisTxxX People who casually support Keynesian economics are the same sort of people that think "Communism looks good on paper." They take it at face value and don't really KNOW Keynes, Marx, or whoever else's philosophy and the utter evil that drives it and becomes of it.
worldofdraculas 4 months ago
End monetary policy. It can't work now. We need fiscal policy. Cut payroll taxes to zero (for income under 1 million dollars, maybe). You will see growth because you will get the money to the poor and middle class. We will cause some inflation in the short run but we will get lower unemployment. We can balance the budget to end the inflation by cutting government programs as Ron Paul suggests. We could also end the wars now to help curb against some inflation.
TheMiniDonkey 4 months ago
Ron Paul is the champion of freedom and the hero of liberty
JcKantelope 4 months ago
i wish europe would learn about things so they understand how structures work, the EU is die hard socialist keynesian...they dont know what that means but its anti capitalism so they lap it up, what they dont know its a structure created to fail so they must really love recessions and their govs sellin off debt at the cost of our standard of living!
becij13 4 months ago
@becij13 Makes you wonder why all of the Marxist champions of the proletariat are themselves bourgeois. Maybe economic equality isn't their goal?
No, no, I shouldn't say that. Being one among the masses, I could not possibly understand the amazing, noble things our overlords are doing for us.
worldofdraculas 4 months ago
@worldofdraculas You're right! I can't imagine them either! I should have just assumed it in the first place, everything is fine! Hmmm, I think I'll go shopping...
XxxThePsyCheMisTxxX 4 months ago
@worldofdraculas they count on the minority understanding and sad to say caring!
lol...economic equality...whats that? the chances of that ever occurring deminish by the day, in every fiat note they print, every secret tax, every decieptful inflation rise, then fall! europe has allowed a welfare, risky and straight up elitist state to emerge and they call it socialism!
End the EU and every other foney union u have in mind!
becij13 4 months ago
I can't understand why he would post this for himself. Ball seems to me to demolish his argument in under a minute, but I guess a lot depends on what you believe already.
Kosimba1 4 months ago
Why is it that before we had the fed the dollar of 1912 had the same worth as 90 cent from 1776. But since the fed's creation the dollar of 2011 is worth 2 cents of its original value from 1776. It's a con game and it needs to stop!
marksuave25 4 months ago
@marksuave25 thats about a 3-4% inflation rate. whether or not it's a good thing, its not THAT bad lol
darris321 4 months ago
What research? Over what periods? Corroborated with what evidence?
Dr. Paul always backs his policy with historical precedent as fact.
That's why Keynesians, Socialists, and Communists hate him.
Rensune 5 months ago 31
@Rensune Couldn't agree more. Keynesian = Socialist ;)
maxguarda 3 months ago
@Rensune You forgot corporates.
PatTheRiot 2 months ago
Black is White, Evil is Good, War is Peace, Inflation is Good.
furyofbongos 5 months ago 4
Black is White, Evil is Good, War is Peace, Inflation is Good.
furyofbongos 5 months ago
This has been flagged as spam show
Ron Paul 2012!
Lets all chip in and donate to Dr. Pauls campaign on Sept 17th. Lets get him the funds necessary to win this thing and BRING OUR TROOPS HOME!!!
eaglesfan48 5 months ago
Dr. Ball (the first respondent) was one of my professors in college. Hearing his answer brings me back to his lectures and makes me realize that I learned nothing good about economics in college.
HerroSpreen 5 months ago 61
@HerroSpreen it's all about austrian economics. mainstream just doesnt feel right. especially keynesian make for jobs.
maxgunn555 4 months ago
@HerroSpreen WOW.
bigmamainthemud 3 months ago
@HerroSpreen
I know eh. I am taking economics in University and well... Its simply all Keynesian concepts. No alternatives.
Its like taking Political Science and learning only communism notions.. or perhaps taking Art History and learning only impressionism.... I feel like changing disciplines.
RascalKyng 2 months ago
@HerroSpreen Wow, I just looked him up. The guy is a professor at John Hopkins?? How can someone with such a weak/lame answer be a professor at a school like John Hopkins? You don't need to have a degree in economics (I do, unfortunate?) to understand that price increases across the board affect the lower and middle classes much more than it does the rich. Professor Ball needs a light smack across the head.
LibertyMike1 2 months ago
@LibertyMike1 This professors aren''t there to educate. They are there to propagadize for the banking industry and the government. They intellectually back bailout economics, the military industrial complex, and government subsidies of big corporations. All under the guise of "creating employment" they destroy the American peoples savings through inflation
bschou 2 months ago
The three professors of Keysian sound like bumbling idiots so wrapped up in their own mind that they simply do not make sense based on any point in reality...Ron Paul is the man- Is it really that hard to understand that the more money is printed- or more t bonds purchased by the fed(promise to pay back with dollars in future) the less value the dollar will have- please someone tell me that they do not understand this simple principle...
jchamp41781 6 months ago
@ninjashade411 no, no. they don't exist AT ALL.
csmguitar1 6 months ago
Unfortunately the world is filled with lies and the liars that spew them. "Studies show inflation affects everyone evenly." LOL wtf. A five-year old has more logic than this. It certainly does affect everybody. End the fed.
mark32811 7 months ago
This has been flagged as spam show
RON PAUL, WE ARE STILL WAITING FOR AN ANSWER! TELL AMERICAN PEOPLE HOW EXACTLY RU GOING TO CREATE JOBS? OK LETS SAY ALL TROOPS CAME BACK AND THEN WHAT? THEY ARE GOING TO SELL IPHONES AND BLACKBERRIES? DUDE BE A MEN, HOW RU GOING TO CREATE JOBS? POPULATION OF CHINA IS 1.4 B CHINESE WORK LIKE ROBOTS, BE HONEST TELL AMERICAN PEOPLE TO BUY UR BOOK U NEED CASH , U LOVE POWER, U LOVE CASH, U WILL NEVER CREATE JOBS, U HAVE NO ANSWER!
democratsaresmart 7 months ago
Keynesian economics are a joke. It's a lot of "smart talking" bullshit that tries to over complicate simple principles that Adam Smith explained very well and seem to hold true regardless of the circumstance. Mainly the effect of the "invisible hand". The economy will go to where it needs to regardless of what kind of outside influence in exerted on it. A *true* free market with healthy competition, supply and demand will work it all out.
BikerBry 7 months ago
@BikerBry Game theory has already proven that true free markets don't exist.
csmguitar1 7 months ago
@BikerBry The Austrian Economists disagree with the INVISIBLE HAND idea because it negates the process which individuals use to make decisions and to act.
TheManiacalSatanist6 6 months ago
@TheManiacalSatanist6 that makes no sense on a macro economic scale.
BikerBry 6 months ago
@BikerBry Macroeconomics are complete fail.
TheManiacalSatanist6 6 months ago
This has been flagged as spam show
Is Texas still pumping great amounts of oil?
Is Motor town banging out those autos?
Is Pittsburgh humping out steel?
Is TSA discouraging tourists from coming here?
Do we have the mining resources as before?.. The answer is HELL NO ..wake up
2020starman 8 months ago
jesus christ ron paul is stupid. you know what hurts poor people even more than inflation paul? Unemployment. Austrian econ is so fucked
csmguitar1 8 months ago
@csmguitar1 Actually, inflation causes unemployment. Ron Paul is stupid? Obviously, Keynesian economics doesn't work. It's simple really. The prices go down, more people buy. That creates supply and demand, creating new and more jobs. Once that happens, everyone starts buying more stuff when they get a job, creating even more jobs. I used to run my own business, and trust me, inflation causes unemployment.
PipersGrip 7 months ago
@PipersGrip Do yourself a favor and google "Phillips Curve," because you're wrong. Prices may go down but so do wages and we know from Milton Friedmans work that individuals don't like seeing their nominal wages fall which triggers the "paradox of thrift" which causes AD to fall getting us stuck at an unoptimal equilibrium and operating under capacity.
Just because you own your own business doesn't mean you know anything about economics...
csmguitar1 7 months ago
@csmguitar1 Lol, I know well what it is, but what I said wasn't wrong. What's wrong with what I said? Inflation makes prices go up, yet wages stay the same. Ron Paul is very smart and well studied in economics. To claim he is stupid is a very ignorant thing to say. You might not agree with him, but he is not stupid. Please quit acting like your opinions are facts. You sound like my father. We have different economical outlooks, neither is right nor wrong.
PipersGrip 7 months ago
@PipersGrip How can you NOT be wrong? Please explain what exactly you think the phillips curve represents, because you claim that inflation creates unemployment when modern macro models suggest the complete opposite (which is why the Fed sets inflation targets). And no, the Austrian school (and by extension Ron Paul) is definitely not well studied in economics. Many people don't even consider it a social science at all.
By the way, these aren't my opinions...
csmguitar1 7 months ago
Fractional Reserve banking is a mechanism for the power elite to steal the worlds wealth for them selves. It's the greatest theft in human history. END THE FED!!!
Nakor420ish 8 months ago
I felt stupid everytime ron paul got on TV and i didn't comprehend anything he was saying about the federal reserve and the economy because he only has a minute or two to explain his position. Found a really good site that cleared it up for me. hmscoop.com. Quick overview of banking and the federal reserve. If you're like me it might help to clear it up for you.
TomH364 9 months ago
"Effects of unemployment are very heavily concentrated on low income people" - NO SHIT! That guy is a fucking smart!
FrePuchowy 9 months ago
Friedman >> Hayek >> Keynes. Remember that. Chicago school economics is better than both Austrian and Keynesian schools.
LogicalFlawDetector 10 months ago
@LogicalFlawDetector I disagree with this but you're entitled to your own opinion, remember that the Chicago school has ties with advocating the federal reserve system, in micro-economics Austrians and Chicagoans are very similar, in macro is where their differences reside. It's this very system of monetary policy that have taken part in constructing and playing ball with while the Austrians reject the central bank entirely. I think this is important, especially in this subject.
s0beit 9 months ago
1:14 is total BS. "Inflation of 2-3% is good for the economy" supposedly because it means that if prices are rising then people are consuming more because they have become more wealthy. WRONG. People are consuming more because they are being SCARED into purchasing. If I fill up my gas tank today because I'm afraid of an increase tomorrow, then consumption is going to go up. Inflation is only okay if money is not being printed AND if wages are increasing faster than inflation. They're not.
KoalaBearWarrior 10 months ago
@KoalaBearWarrior As the professor said, inflation may be bad for the pooor, but unemployment is even worse. Can we have your opinion on the evils or benefits of being unemployed? For example, if (i say IF) you had to choose one, inflation or unemployment, which would you choose?
macroman52 10 months ago
@macroman52 The Professor is an idiot: inflation and unemployment are not mutually exclusive. We have UNEMPLOYMENT AND INFLATION. The unemployment rate has dropped. Why? Because the people who were counted as unemployed are no longer counted as unemployed. Sounds great doesn't it? Combine that with printing money (1.5 trillion +) to prop up Treasuries and MBS and you've got a doomsday scenario, which is now. The dollar is screwed because of Keynesian economists like this clown.
KoalaBearWarrior 10 months ago
The claim at 1:15 is complete bull. Rich people can easily pay the higher prices caused by inflation.The poor and middle class always suffer under inflationary conditions.
xTAxGUNZ 10 months ago
So the professors argument is that it is okay to have inflation because it destroys the value of everyone's savings and earnings equally?
brad238899 10 months ago
Wow. Inflation affects all people equally? I don't think so. How can anyone claim that an increase in the cost of living affects someone making $20,000 annually the same way it affects someone else making $200,000 annually? Sure they both see the same increase in prices but who can better afford those increases? This centralized control of our monetary system needs to stop. These self-important intellectuals are destroying this nation. I'm so thankful we have Ron Paul standing up for the people.
BudWithBeats76 10 months ago
Inflation is bad, mmmmm'kay.
KIFO1976 11 months ago
Listen again. The professor said that the aleternative to inflation was unemployment. He said unemployment hurts the poor more than inflation hurts the poor. He gave an argument, which you still have not answered.
macroman52 11 months ago
@macroman52 you're an idiot.
KoalaBearWarrior 10 months ago
Ron Paul is a moron if he honestly thinks the poor suffer from inflation. Inflation raises both the nominal and real wage while reducing the real value of their debt. From 1970-79, the annualized rate of inflation was 7.19%. The unskilled wage rose 8.00%. From 1980 - 1989, the annualized rate of inflation was 4.65%. The unskilled wage rose 4.02%.
worldnewsbbc1 11 months ago
Fechmeister says inflation puts people into debt...Why? because prices are rising?
remember... inflation is caused by too much money chasing too few goods...
if there is too much money, how does this create debt?
remember... inflation lowers the real interest rate of debt.
remember... in the past 20 years of low inflation, we saw a huge rise in debt.
So, now you need some inflation to lower real interest rates for debtors.
the problem is disinflation... new keynesian economics understands this.
polvotierno 1 year ago
Another danger of quantitative easing and direct financial stimulus is lag time. By the time the money begins to circulate in meaningful amounts and at meaningful velocities, the economy could very well begin an upswing. Such can create terrible short term inflation.
BTW Fechmeister I would argue that hyperinflation is already here. Look at how much food, energy, health care, and so many other items have spiked in price since early 2009.
mongoose704 1 year ago
@mongoose704
exalcty, which falls in acordadce with hume's quantity thoery perfectly.
fwanksajerk 11 months ago
I didn't realize until now how 101-ish Ron Paul's economics are...
Inflation allows people in debt to more easily pay off their debt... This benefits the middle class and the economy as a whole...
and in a zero-lower bound environment, many things change... he doesn't seem to have any awareness of that.
polvotierno 1 year ago
@polvotierno Inflation causes people to go into debt in the first place.
PissedFechtmeister 1 year ago
@polvotierno Ron Paul is not an economist. He is talking out of his ass.
cepacol06 10 months ago
@cepacol06 Your logic is undeniable.
brad238899 10 months ago
@cepacol06 Keynesians are talking out of their butts. They treat capital like a homogeneous blob. To them a fork and a fork lift are the same. They don't take into account the true complexity of an economy and this leads them to ridiculous conclusions. Try arguing like an adult. You should go to Ludwig von Mises Institute website and read some of the literature on Austrian economics. It really is enlightening to learn how an economy truly functions.
ArmednSafe 9 months ago
Ron Paul forgot about the phillips curve.
redmattuk 1 year ago
@redmattuk The Phillip's Curve is merely a correlation. It says nothing about causation. Does inflation cause employment or does employment cause inflation? Or does something else cause both?
PissedFechtmeister 1 year ago
@PissedFechtmeister Well in Keynesian models and in the real world (as western governments currently operate within a Keynesian paradigm) Employment causes inflation; ^GS means ^Employment and ^Prices. Effectively it's how we all pay for the extra people doing things, it comes back to us via the price mechanism. But the government's policy is good en masse because more people are using their skills.
redmattuk 1 year ago
@redmattuk The US uses Keynesian economics as justification for its policies, but doesn't really use Keynesian economics. The US increases government spending in good times and bad. Tax cuts don't happen that often and when they do they aren't tied to the state of the economy.
PissedFechtmeister 1 year ago
You can't refinance a mortgage on an underwater property. The new mortgage will not cover the old mortgage (you usually can only get a loan up to 80% to 100%) many properties have mortgages that are 150% to 300% of the current market value of the property. How do you refinance in that situation? Who cares how low the interest rates are if most homeowners can't access the cheap money? The only thing being stimulated now is the house of cards stock market and corporate executive's pockets
jiveturkeyusa 1 year ago
You will find there is no clear distinction between Keynesian economics and fascism; the two philosophies are intrinsically the same thing.
jiveturkeyusa 1 year ago
It could be a coincidence but it occurs to me that Keynesians tremble when they talk about their ideology. It´s like they´re not confident about their beliefs.
filmpje101 1 year ago 10
Thank god ron paul will never run the country. He seems to want mass unemployment.
funisverygood 1 year ago
@funisverygood i dont know if this a troll or not but you dont understand economics clearly
winnah2314 1 year ago
@winnah2314 No deflation does cause unemployment, look up the great depression.
funisverygood 1 year ago
@funisverygood
That is true only in the short run. Government intervention via price and wage controls along with taxation, monetary policy and federally created or ratified monopolies creates long term unemployment.
mongoose704 1 year ago
@funisverygood The GD was caused by the Fed's loose credit policies. The GD became great because of Hoover and FDR's interventionist policies. Same as the housing bubble and subsequent collapse. Same as Japan's lost decade.
PissedFechtmeister 1 year ago
Ron Paul has no business talking economics to an economics professor. He's making a joke of himself.
njchampnj 1 year ago
@njchampnj Then the economics Professor should study up on Mises and Free Market Austrian economics like Ron Paul did. You can study them for yourself at mises.org.
cliffy827 1 year ago
@cliffy827 I'm sure the economics professor knows Austrian School much better than the crackpot Ron Paul. Which would explain why said economics professor doesn't adhere to Austrian School economics.
njchampnj 1 year ago
@njchampnj Yeah what a crackpot Ron Paul must be to belong to a school of economics that produced a Nobel Prize winner and has been praised by many others including John Keynes.
mongoose704 1 year ago
@njchampnj Did this Economics Professor predict the housing bubble burst like the crackpot did back in 2003? Look it up for yourself here on you tube. "Ron Paul Predicted The Collapse in 2003 - Morning Joe 5/15/2009"
cliffy827 1 year ago
@cliffy827 If you make enough guesses, you're bound to be right at some point. True, most economists did not think that high housing prices were a bubble. But that includes Keynesians and Austrian School economists. Ron Paul talks so much and yet says so little. He makes so many wild accusations that's it's no surprise he got something right. The only good thing about Ron Paul is that he's not Rand Paul.
njchampnj 1 year ago
@njchampnj Except he didn't guess. Even Mises said government intervention would lead to a collapse. I'll find the exact quote if need be. Peter Schiffe predicted it. Lew Rockwell predicted it. Their next prediction is the collapse of the dollar and we're starting to see it. More people are running to put their money in gold than the dollar. China laughed at Geithner saying the dollar is fine. (cont.)
cliffy827 1 year ago
@njchampnj Geithner also announced we wouldn't devalue our currency. Well, Thailand said the same thing before it crashed. Did you read how Zimbabwe had to devalue their currency because everyone was a trillionaire? That's where we're heading with the whole fiat money scheme going on. Of course that's just another wild accusation from Ron Paul. When it happens I look forward to debating you again.
cliffy827 1 year ago
@njchampnj Here is the quote from Mises: "There is no means of avoiding the final collapse of a boom brought on by credit and fiat monetary expansion. The only question is whether the crisis should come sooner in the form of a recession or later as a final and total catastrophe of depression as the currency systems crumble."
cliffy827 1 year ago
Keynesian economics professors are the equivalent of Witch doctors.
gnuochtapir 1 year ago
@gnuochtapir Actually, no. That would be supply siders
njchampnj 1 year ago
How come the banks get to get money from the fed but the average joe cant get 1% loans like banks do?>
sniped101 1 year ago
@sniped101
Because the banks hedge their loans by giving out such a great amount of them. Most often the banks also have some assets to back up the loan.
The reliability of the banks is so high, that the 1% is comparable to the risk involved.
eshnajizzle 1 year ago
oh I get it!. The reason why the poor and old people is because their income is fixed. The poor people don't get a raise so money value gets lower and they make the same amount of money so it hurts them.
sniped101 1 year ago
You may want to watch some of the unofficial illustrated versions of these Paul broadcasts, which I've enhanced using my video archive. The first one is at
/watch?v=DrmRJxoaCmc
It should link you to the rest one by one.
Or keyword search "straight talk" on YouTube. That will bring my Ron Paul vids to the top.
RidleyReport 1 year ago
Keynesianism absolutely cannot be implemented because central to its theory is massive tax cuts during a downturn. We haven't seen any tax cuts.
We can't cut taxes because we have run deficits for some 56 of the last 60 years and racked up nearly 50 trillion in debt when we count future obligations.
Austerity bills like those in Greece await us in our future. And if the dollar collapses like it likely will, we can expect the political turmoil.
mongoose704 1 year ago
@mongoose704 109 trillion according to the debt clock.
namaste124 1 year ago
@namaste124 There are several different figures.
All we know is the debt is unfathomable.
mongoose704 1 year ago
@mongoose704 So you're basically saying, in terms of cutting taxes, we're in debt slavery at this point? We can't cut taxes because the deficit is too high? That's terrible
apocaloid 1 year ago
@apocaloid
Exactly.
Rarely is there a consensus among economic schools of thought but these two truths are.
Raising taxes and interest rates dramaticallyslows down the economy, all thing equal.
It is inevitable that both will have to occur.
mongoose704 1 year ago
@mongoose704 But taxes have been cut. About 1/3 of the American Reinvestment and Recovery Act was tax cuts.
njchampnj 1 year ago
@njchampnj Wrong. The stimulus resulted in a 352 billion dollar net hike in taxes. Furthermore the record deficits and debt it is contributing to has committed us to long term tax increases.
The so called "cuts" written into the stimulus were essentially welfare payouts that were called "tax cuts" by Obama's spindoctors and those amounted to chump change in the grand scheme: Not enough to even generate a ripple in the macroeconomy. Most of the tax rates stayed the same or went up.
mongoose704 1 year ago
@mongoose704 I don't care for Keynsianism, but a lot of people don't understand that he suggested tax cuts during recessions and spending cuts during booms. Under Dems and Reps we constantly see spending increases and rarely any tax decreases. I think you're 100% correct. Austerity is coming, and if it doesn't then we'll see hyperinflation.
PissedFechtmeister 1 year ago
@PissedFechtmeister Exactly my sentiments. Media hacks like Krugman and Olbermann love to quote Keynes on public works and direct stimulus rather than the tax cuts Keynes also supported.
and once again you are correct. All we see are tax and spending increases. Even when we lower income tax rates we raise taxes on everything else. We hide a lot of taxes in the GDP. Taxes are on every item we buy.
And yes, austerity is coming whether we like it or not. It's a near certainty.
mongoose704 1 year ago
@mongoose704 Keynes said that government spending is more reliable then tax cuts. if the people getting the tax cuts save rather then spend them, you still have a recession. because business is ran by the animal spirits.
22439384 1 year ago
Keynesian economics is increasingly being exposed as little more than a money printing racket.
orangedac 1 year ago 2
@orangedac Keynesian economics is only being turned to during bad times. if we actually had cyclically balanced budgets we would not have to barrow money to stimulate the economy. also the ideal inflation rate in the long run for Keynes would be 1-4 percent. also Keynes only wanted money pumped into the economy during bad times. the fed has been pumping money into the economy every time prices go down. so when the invention of better computers drove down prices more money went into econ.
22439384 1 year ago
jesus christ, ron paul the class warrior. as if.
1qewretry 1 year ago
@ozhjdfhg life get
theVAGINAntichrist 1 year ago
This guy is a moron... Ron Paul is correct...
gr8tymecpl 1 year ago 19
Keynesian economics is financial irresponsibility.
SmileAznStyle 1 year ago
@SmileAznStyle
Exactly how much of Keynes's work have you actually read, Little Muffin? Maybe when you've gone to college, earned a living, paid taxes and raised kids (or at the very least experienced your first orgasm) you'll understand.
AtlasShruggery 1 year ago
@SmileAznStyle err Keynesian economics calls for cyclically balanced budgets. in other wards Keynes would have us run surpluses in good times and then use that money during bad times to bolster the economy.
22439384 1 year ago
i know its not Ron Paul's behavior, but i really want to see him start calling these BOGUS phonys out.
iAMr3VOLution1 1 year ago 26
@iAMr3VOLution1
if he get's elected, I'm sure we'll see plenty (wow that would be friggin amazing. unlikely, but amazing. I know I'm voting for him)
raigekimaru 9 months ago
one really educated american vs. these fake BS professors !!
yourtube20061 1 year ago 2
What stupid research suggested inflation affects evenly across society? poor ppl live on day to day earnings. there remain poor. middle class & retired live on a moderate saving. inflation sucks out value of their saving. even a high skool kid knows that. Super Rich keep investing and live on huge profits and they get richer by exploiting ever increasing pool of poor ppl in the society.
appumathew 1 year ago 3
5 stars just for the title.
TheLostRepublic 1 year ago 2
Researchers he probably bought off, or they need to open up their eyes if they find inflation helps poor people.
SlimnJim 1 year ago
These "experts" are convinced that the economy can only be managed by them with a tweak of a dial here and a yanking of a lever there. It never occurs to them that the monetary system should be such that it is self-regulating.
Return to a definitely defined dollar as a fixed quantity of silver, outlaw fractional-reserve lending, and let the interest rate adjust freely to encourage SAVINGS. All these experts are in the employ of the government and naturally don't want a self-regulating economy.
acudoc1949 1 year ago
@acudoc1949 I completely agree with your solution.
PissedFechtmeister 1 year ago
If inflation is distributed evenly across income groups, then Ron Paul is correct: those on fixed incomes suffer and their savings go down in value, because they don't have any way to keep up.
IMissLiberty 1 year ago 3
Fuck i love Ron Paul.
lordweaselfreak 1 year ago
the working class has paid trillions via inflation. prices rise - time passes - finally wages go up - repeat. it's this gap in time between the rise of prices and the rise of wages that hurts the working class.
megagagnon1 1 year ago
Question: where does the federal reserve gets its money?
Beezy2127 1 year ago
they get it out of thin air
Pher0cious 1 year ago
@Beezy2127 From the reserves... ha....ha...ha
cayman0005 1 year ago
The type of fundamental questioning needed for the American people to fathom the scam that has been perpetrated by the elite financial class.
The FED is empowered to write a check to purchase anything it wants, backed up by NOTHING. We have given these so-called monetary experts the power to create gold out of nothing, as these checks could be used to purchase gold!
acudoc1949 1 year ago 3
@Beezy2127 they can get it in two ways.
1. print it.
2. sell treasury bonds to the banks.
right now they are buying bonds to increase the money supply. the fed owns the biggest share of us debt. that's right we owe our self more money then anyone else. and a little less then 50% is held inside the us. the fed uses the debt they own to control the money supply. and of course the interest paid on that debt goes right back to the treasury.
22439384 1 year ago
Fuck The Federal Reserve. Its such an Asinine statement to say any inflation is good at all.
Beezy2127 1 year ago 2
@DMTTRIPcom2 Your username is not doing Ron Paul any favors. Please exercise some discretion and/or get a new username.
mortalrage 1 year ago
how's mide :D
(really, I don't think Ron Paul cares about the names of the users who post comments on his youtube. thats just silly.)
anonymousbl00dlust 1 year ago
Unelected officials playing God with our currency/livelihood.
midwestcharm 1 year ago 2
Inflation hurts all of us and disproportionately hurts people on fixed incomes. That is basic economics.
bertly71 1 year ago 2
who the f*** are these professors? They are so full of s***. aaargh.....I wish I could just wake up from this nightmare and Ron Paul was president.
wodahsking 1 year ago
Comment removed
amaone 1 year ago
Comment removed
amaone 1 year ago
Is that the professor's accent, or is his voice wavering in his answers to the good Doctor Paul
Johnybama 1 year ago 3
What a dillhole!!!! Everything is going up but pay. Rip him a new one PAUL!!!!!
71twimom1918 1 year ago 2
Go Ron Paul, three professors sounds like three ignorants.
yushaos 1 year ago 2
Is that guy a fucking idiot? Inflation OBVIOUSLY hurts retirees and the poor the most!
Nate2203 1 year ago 9
@Nate2203 inflation hurts banks the most, and helps people who barrow money. it has an equal effect on poor and rich, although it does hurt retirees on a fixed income. although the effect of raising the rate of inflation one percent is small on them while it could help push the economy. increasing the inflation rate one percent will get business to invest on the margin. in other words a business on the verge of spending will spend.
22439384 1 year ago
@22439384 How does it hurt equally the rich and the poor? The poor are already barely making ends meet then inflation makes the prices go up on everything and they can't eat proper food because it's too expensive. For "rich" people, it just means they will have a little less buying power, maybe they have to keep their car for another year before they get a new one. Unnatural growth can only help the economy in the short term, holding off the collapse for a little while. It's just a little trick.
Nate2203 1 year ago
@Nate2203 poor people are more likely to be in debt though. if the dollar is worth less they do not have to pay as much. The rich probably have more long term bonds, that would lose value with inflation. you are right about it helping in the short run in that it will not cause a real increase to GDP in itself. what increasing the target rate of inflation will do is get business to spend some of the money they are saving before it drops in value, one point will affect people on the margin.
22439384 1 year ago
@Nate2203 The professor gave reasons for his answer. you didn't address them. You merely say it is obvious.
macroman52 11 months ago
@macroman52 It's OBVIOUS to anyone with half a brain because inflation makes prices go higher, meaning the cost of living goes up, meaning it costs more to live, meaning the people who live on fixed incomes(retirees) and people who barely make ends meet(poor people) get fucked. Yeah sure, it helps people get loans for cars and houses and shit that poor people and retirees are not gonna get. You could say that it spurs the economy, yes, but it still fucks over the poor and fixed income people.
Nate2203 11 months ago
@Nate2203 Real wages don't change from inflation, and therefore purchasing power doesn't change much. It may be "OBVIOUS" to you that rising prices make cost of living higher but anyone with an economics background would say its not true. Wages go up at the same rate as inflation. Go get an economics degree and you can see equations and real life evidence that show it.
njchampnj 11 months ago
@njchampnj
saame rate? refering to hume's quantiyt theory it doesnt. unles theres propopoartionate increse in proudctivity. even hume relaizedthis and he was an inflationist!
fwanksajerk 11 months ago
@Nate2203 This guy is my professor. Very smart guy, much smarter than Ron Paul. Laurence Ball has an economics degree, what does Ron Paul have? An MD. Dr. Paul should stick to his field of study and stay away from economics which he knows little about. Real wages don't change from low to moderate inflation. Unemployment, however, should be the main concern of fiscal and monetary policy in the Fed as it has documented profound effects on the poor and unemployed. Ron Paul is the idiot.
njchampnj 11 months ago
if inflation was good, why would we ever keep the printing press idle? fire that sucker up
ForTehNguyen 1 year ago
more like Cains...the Fed are murderous Cain-sians.
FattyFatterton 1 year ago 2
I hate piggy back riders. Carry your own weight...that what real team work is. Thats how you help others, is by not throwing your weight onto another to burden them.
Of there are temporary needs for others help.
but no one can help if their ability's are threatened to be taken. That's people maximum Freedom's...Economically and Personally. Its not obama, or clintons. or bushes understanding of team work...cause they don't want you to work...
Ron Paul 2012.
FattyFatterton 1 year ago 2
Federal Reserve = criminal orginization
"I can print money out of thin air.....because I just can."
Firebirrd85 1 year ago 3
How clueless was that first guy? If you take 4% of someone's money, that's going to hurt poor people more than rich people. If you have 20 cars, you might settle for 19 if you're rich enough. But if you only have 96% of rent after you pay for food, that's a bigger issue.
theknightswhosay 1 year ago
The only currency to a Keynesian is your freedom.
That IS a finite resource and it is about to run out too. All they have left to barter with is your freedom and we allow it. We need to take responsibility as voters for this mess. Shame on me too...
jmsazboy 1 year ago