Even with applying a logical process isn't enough to make predictions because we don't hold things constant in the real world, and often times independent factors come in and can enhance or dominate the effect you predicted. At best we can only make qualitative analysis or quantitative only by making the statement that the results will only hold if nothing else affecting the variables changes. So I don't think the point of the theory is empirical prediction and I don't think it should be.
This guy is a f... moron, this guy is not only a criminal, he's very sick too. He stole a lot of money using 10 creditcards, the banks and IRS are after him big time and now he's trying to sell his house which is under a trust cause he's getting scared. And for all you women out there, don't ever date this guy, he will pretend he's such a nice decent guy, but instead he has a second agenda, he's very insecure as a man and he needs to mess up women's lives. This guy is seriously sick.
This guy is a f... moron, he's acting like he's all that great, but this guy is not only a criminal, he's very sick too. He stole a lot of money using 10 creditcards, the banks and IRS are after him big time and now he's trying to sell his house which is under a trust cause he's getting scared. This guy is a criminal first class so don't think he's all so good, he may know how to invest on the market, but he plays an unfair game.
I am very interested in knowing what you did or what system you followed to be able to retire yourself in your 30's...what books have you read? etc...great posts!
I'm studying (keynesian) economics at high school in Australia, I feel that it is mildly propaganda but not in the way you put it with the banks and all, in essence it idealises capitalism (or a, 'market based' system). For example the textbooks only talk favourably about deregulation, often saying it leads to more competition, what they fail to mention is that thanks to deregulation we have to pay expensive fees to switch banks or internet companies, which certainly isn't competitive.
I think you have some ideas wrong or not fully developed by reason and information. Keynesian economics is flawed just read the history and what was going on at the time. Read Keynes's pre-position, mid position and then after position. Read his opponents and what he said to them. Keynes admits his theory or idea was flawed and disproven by his opponents and individuals like a hundred years before. He said he only wanted it practiced(at one point) for the the great depression.
@jmel93 its funny how school books show so much bias, i remember within a two year span the same books at my school went from middle of the road view to very biased by ommiting facts that were critical. good luck!
@SRT480 I have since finished school and the economics course got became insane. They (the teachers/textbooks) pitched to the class that global markets utilising slavery or poor working conditions (referred to as an "efficient and competitive labour market") are fantastic. They also argued that minimum wages should not exist and consequently around 15-20 students in my class agree. In my opinion a minimum wage is the pillar for human rights, as food, water and shelter all need to be purchased.
@jmel93 if these arent given as basic human rights what you get is the masses struggling hand to mouth and a select few who are wealthy beyond any sane measure. the down side is only that these few dont have as much desposible cash. i dont see that as a problem.people argue with this because they hope or dream of being in that elite status group damn the rest of us.
You had me all the way up to "Austrian School of Economics." That I don't believe would be the best alternative, though I do agree with your assessment of Keynesian economic theory.
isnt the 0 precent bank intrest rate only over night with banks not being to borrow that money for like 2 weeks or something. and if no one can compete with banks for issuing debt at low interest wouldn't it follow that there would not be such a think as stock? as companies would borrow from banks and not the people. also ... wouldn't it follow that banks wouldn't issue stock because they can borrow money from the government ? please help me
country's will always be in debt if they keep up the fractional reserve system, inflation will be fast and we will all be slaves relying on the government, you can't even grow your own food now, monsanto, the banks and others want the New World Order. when hitler wanted to take over, was n't he hated? but these guys do it and the sheep just carry on playin xboxlive etc.
The instant that someone comes up with a working theory of Economics, there is someone with a plan of how to work around the economic theory. Most all of the Pyramid schemes, work within the law and around it.
Another reason Wall St banks receive special treatment is because they own the stock of the Federal Reserve. And the Fed prints money for the US gov't. The Wall St banks buy treasuries which provide funds to the gov't without directly taxing the voters. Keynesian methods allow the gov't to spend money now that will be paid back by taxes later. Good for the politicias, good for the banksters, and bad for everyone else.
The economy should be managed by paying down deficits during times of growth & stimulus during times of contraction. The last time taxpayers had to do a bailout was in 1989 after yrs of Reagan & Bush Sr. 75 billion went to Texas S&L's while bailing 160 billion nationally. Since the RNC were in power it wasn't Socialism but *just part of the economic cycle*. We were 8 yrs of another Bush & spent trillions of T/P $. The RNC just happened to be in power both times. Just a coincidence, right?
@danger0usknowledge, the term "economic cycles" is a misnomer. All booms and busts are created by the expansion and contraction of credit. The power to issue credit, which is the power to create money is solely in the hands of private banks, not the gov't. That's right, our gov't does not create our money. Therefore, productive citizens & politicians have no say in the economic cycle, which properly labeled should be termed economic manipulation or theft. Please look behind the politics.
@iamgabrielf, Focusing on "economic cycles" in the context of my comment kinda misses the point. Myopic? What should be done with deficits during economic expansions (Clinton) & recessions. Obviously the mainstream disagrees with Krugman stimulus during recessions.(Why not, he's an economist, right?) The de facto President Cheney started 3 wars & listed them as OFF BUDGET. They are all now listed in Obama's "record" budget. Politics has EVERYTHING to do with that.
@danger0usknowledge, Krugman wanted 2T in stimulus in '08. Agreed. I also agree that we need economic stimulus because the money supply is contracting. However, where I disagree is that the stimulus money should not be borrowed. Banks create money out of nothing. They claim that if gov't monetized debt there would be hyperinflation. However, we've just been thru 2 hyperinf cycles (dot com and housing). Private credit creation is no panacea because it comes along with interest payments.
@danger0usknowledge, what I'm trying to convey to you is that politicians have little say in the expansion and contraction of credit; although they should. If the people retained the power to create money, politicians would be forced to return their accountability to its proper source.
@iamgabrielf And for all you women out there, don't ever date this guy, he will pretend he's such a nice decent guy, but instead he has a second agenda, he's very insecure as a man and he needs to mess up women's lives. His game will take just as long as you'll let him. This guy is seriously sick, stay away from him.
Do banks have more leverage anywhere in the financial market or related markets, if they have more people with their cards and the more people use them, independent of whether or not they pay them off on time?
I ask, because I don't deal with these large banks much, aside from credit cards.
It's all a big scam. Indoctrination by means of educational system to buy into the BS! Yes, social control through the head of the snake, namely The Federal Reserve System which is a private Corporation and prints money out of thin air and whoever controls the money supply, then controls the government, hence the masses.... (educational system, mainstream media, etc.)
Uh, the Fed doesn't loan money to banks at 0% interest--that's the federal funds rate, which is different. The rate that the Fed loans money to institutions is called the discount rate, which is a little higher. Also, your counter example regarding fiat money isn't valid; the difference is that counterfeiting doesn't ration money so there's no incentive to work. And Keynesian macroeconomists do make predictions--for instance the Fed releases projections and their standard margin of error.
this guy is exactly right, but once i come back down to earth i realize yes i am a slave stuck in the middle class but once an enitity such as big banks reaches a threshold of a particularly large capacity they will either stay in control or take thier money and run theres nothing we can do but dwell on it so i have to retrain myself to enjoy extremely simplistic things to retain my sanity,its completely arbitrary but its my only logical tool even though the process is illogical.
@ClintonLee0711, there is something you can do. It's still a small movement, but some have referred to it as the modern civil rights movement. It is the returning of the power to create money to its proper source, the people. Today, private banks create our money supply, and as long as this continues, politicians will look only to them as those whom they must serve. There are ppl working to arrest the power of money creation from the banks, chief among them is Ellen Brown.
Just caught your interview on Max Keiser and looked you up. It wasn't easy to find you. I will enjoy watching your commentaries. P.S. happened to come across an essay you wrote for Financial Sense back in 07. I am a big fan of that show as well.
response to 1:55 - Wouldnt a logical solution be to make all banks not-for-profit?
response to 2:48 - There is no such thing as anything but fractional reserve banking. It is not a fraud. Its the only logical way to do banking. How would full reserve banking work in its place?
response to 4:20 - Would you agree that ownership is the problem? Shouldn't industries be socially owned instead of privately owned by individuals?
ive always respected your opinions. many people argue like they know what they are talking about. theres something about your arguments that feel right when i think about them. keep saving the world.
No. Leave off the anti-semitism. Bankers don't actively try to go bust and they genuinely believe they're making money from sound investment i.e. by public benefit (following invisible hand) but because for the last few centuries, war, and in the 20th and 21st century, Socialism, have required huge expenditures largely from the means of taxation yes, but also from confiscation of money or its purchasing power through bank inflation/embezzlement. Banks are just the guns. Govt pulls the trigger.
I don't see where you're getting at with this. Evolutionary biology and even astronomy have questionable predictive value, yet should they be taught as non-scientific?
i agree about the early state of keynesian economics which leans more towrads an ideology rather than a scientific set of theories but i strongly disagree with the fact that economics is not a science. in the last few decades the forecasting ability of economists and financial analysts has improved significantly. what has not changed is the excessive risk appetite and incorrect applications of gains made in econometrics by market participants and regulators.
@alexgramma4 keynesian economics is not based on natural law. It is a theoretical contrivance describing fiat currencies and how gov'ts and fraudsters can funnel off real goods/services (wealth) from the people they've duped into accepting that fiat. Kenesian economics is not an ideology it is farcical.
Theres a big problem with economics on a national (or international) scale, the fact that it is so political (or maybe, politicized). On a grand scale, it will probably never be taught in any way that even come close to being objective.
This is interesting challenging talk and questioning the status elite too many are distracted by the controlled media and other pyramids interest is propaganda.It makes you wonder commercial banks are monopolies world wide may be a front for it's Government connection as Oligarchy for.example.Rothschild families finances banks held economic financing for a long long time.
I think I got so board I peed myself. Wo wait sorry great video loved it anyways the logic I am thinking is that you should come over and watch THE PEOPLES SHOW.
The new two part episode two show just done today. AND I KNOW YOU FEEL ME
The bailouts were mostly demanded by the prevailing neoclassical economists, not by Keynesians. Keynesianism has not been the prevailing movement since the 1970s. The neoclassicals are in command now despite the abject failure of their policies.
Banks having monopolies over issuing credit has nothing to do with Keynesianism. Money has value because governments demand taxes in it, that's where it gets its value, that and the attractiveness of the market in which those taxes must be paid. It is not fraud. Does gold really have intrinsic value or did its value derive from it being demanded for tax paying purposes? Keynesianism is not about coddling the banks. This is a gross misrepresentation.
It is not intuitively illogical. Let's say I wanted to build something and have a team of employees ready. Don't you think I want to get the money before proceeding? If you produce that money out of nothing, I will take the money and build that thing and more production will happen. Now, if you stupidly say "let's not print money" then I won't be able to start production and my workers would remain idle.
@buzznews1 It's not that simple :) If you can earn investing at least 4-5 percentage points more (without a fail) than your low mortgage fixed-rate, then I'd take advantage of your low mortgage rate. Let's say, if you saved a significant chunk of 'change' perhaps as much as $100,000 it might make sense to invest, but it depends on so MANY factors as well (risks, term, if you have credit card debts etc etc)…continued
But the risk is TOO high, if you loose that money it may result in loosing the house. But if you pay half or part of your mortgage (if you can afford it), you'll end up paying less to the bank in interest. Say, even if you'll make some profit with investing, in the long run it's still I think will be less than what you'd save by paying less to the bank :) …continued
But again, there are some complexities like, for instance, tax deductions for mortgages (which I think are over-rated) etc etc. Any way, use the internet to educate yourself and run some numbers, I think in the long run you'll save more on the interest by paying less to the bank and you'll end up building equity more quickly :)
Keynes didn't advocate giving money to failing banks - he advocated giving money to people who would actually do something useful with it. Yes, the government should spend in a down turn because the private enterprise system tends to boom and bust. However, he also advocated collecting enough taxes in the boom time to cover the bust - government was supposed to be the shocks for the economy and private enterprise the springs.
You have a strawman Keynes. Keynes simply says that private enterprise unfettered goes awry. Public policy has to moderate private enterprise. What we see is that he was right. As regulation and regulators backed off and the public oversight became infiltrated by private interests the economy while apparently doing well was actually going off the rails.
Banks are chartered to create credit. That is their product, that is their job. Credit (and paper money) are promises and banks trade in promises acting as brokers for the creation of new promises - which creates the obligation to fulfill those promises. When well regulated (and that means enforced too) it can work quite well. Bankers aren't supposed to get rich. However, when the business of creating credit was opened up to just about everyone it blew a bubble too big to deflate safely.
the chicago crowd around obama is a bunch of 'behavioural economists' their technique is to condition the public to accept austerity so their friends can make off with the loot. this includes job recycling and 'greenwashing' whatever they have to convince you of so that you can have more wealth leached out of you.
counterfeiting has been made legal. thats what the federal reserve does. it is unconstitutional unless congress utters the money.
These days the truth and the official truth are way different. i bet if you began to torture the chain of command on the Gulf of Mex disaster, you would find that it is a gambit played by Cheney and some of his super wealthy, power crazed buddies. All this waste, death and destruction for profit. A small amount of this has escaped, and the prices will start to multiply.
Printing more money is essentially about creating ever increasing disparity. It is simply cruising for war, and war generated disparity.. Back when i was growing up they has war time specials, where they would make one up and send the babies off to war. It has something to do with the upper crusty controlling the birth rate of the poor. The most irresponsible power people want to procreate...
@hypnofan35 The big myth with money is that the rich tend to believe they are valuable because they have money. Everything has to be changed to money before it can be exchanged. Everything equals money before it can equal something else. If someone steals your money then everyone else doesn't like you because you don't have money. In a starvation situation then the rich have to revert to spears and axes.
I love your videoes, I find myself educated, unlike when i watch most of the stuff on Youtube. It's especially liberating to hear your liberal views on economy, in Denmark atleast the Austrian school of economics isn't even regarded as a serious alternative to Keynes
science does not need to have predictive value the way, at least the way I think of science. Evolution is science, but it just explains the past, it does not make predictions where evolution will go next. It's validity is not depending on predictions like that either.
Science is formulating theories about reality that are
-internally logically consistent
-in accordance with empirical reality
For the rest I agree, most economy is propaganda, although Austrian economist work from first principle
I agree, they would cut art, music and gym out of the school system, but still legitimize these economic belief systems.
I see how they have closed an entire prestigious art department in a community college (which had professors such as Dwane Hanson in its history) and yet boost up the two year degree seekers of "Business Economics because they see it as a way to make money. It farther legitimizes this ideal of economics being much more important.
I agree with you about the bank bailout. However I think what the government should have done is open up Federal banks owned by the taxpayers and these new banks give out loans to the companies, small businesses and people who needed them. The government (we the people that owned these banks) would get back interest from these loans. Every taxpayer would get an equal share from these banks and everyone would gain. Why give the money to B.o.A.? Oh forgot the people in Texas wouldn't like it.
All I have to say is, if John Nash could come in and introduce game theory in the 50's, and COMPLETELY CHANGE EVERYTHING ECONOMISTS THINK ABOUT HOW THINGS WORK, then their beliefs are not concrete. Not that there is anything wrong with that, but they present their ideas with such arrogance, that it is something they need to remember... I'm pursuing a BA in Economics, and its gotten to the point where I am considering taking a year off of school (before my final semester).
@DeluxeGoldTop The answer is not another central bank but competition in currency. Money is just another good/service that should be subject to the free market.
well put, keynesian economics is the STATE religion of our time easily recognizable as such : No matter what the problem is : print more money and paper it over. If anyone critizes them, they simply say the system works and that it has provided for growth and stability and of they are not allowed to continue, there will be problems. It is all LIES LIES and more LIES
@wildpett Yes, thats the prevailing wisdom in Washington, but thats not what Keynes advocated. He was a product of his time which was far more conservative than the free-for-all we have now.
To be president in today's climate three things are necessary...you must:
1. Pretend to be a Christian.
2. Pledge eternal obedience and fidelity to Israel.
3. Solve all financial problems by borrowing or printing.
Of course the pres cant print by himself so he has to appoint a compliant Fed chairman.
@yngbullwnohorns - So true and that’s not often discussed. A new system may have remnants of the current structures but operate from a different paradigm of reality completely. Our physical worlds is not created from money or gold or some arbitrary symbol of “wealth” . The only way to bring something into physical reality from the unmanifest into the manifest world of forms is through consciousness ....that’s it ! Everything else is just a belief structure .....
You really have a voice for talking, you are calm, easy to understand and make you're points in a simple way.
I cant say I speak for everyone, but I think you would be surprised at how many agree with you're points when it comes to food, peek oil, and economy. I can identify myself in your views, also there is no political bias. Something that I'm sure many are happy about, seeing that almost everything we get today has been tailored to fit an ideology of sort. Thank you.
I don't think the people think the banks "deserve" these rights,they just don't want to think aboutit as long as they have their comfortable distractions and plentiful cheap food they can buy.It would appear to me, that the apathy to this situation means when and if the other shoe should drop, it will either be sudden, with quick domino effect results, or "death by a thousand cuts".What are your thoughts?
Despite other major incompetence in US government, Keynesian principles sustained US economic stability from about 1940 until they were dismantled by Reagan and replaced by the disastrous "trickle-down" and "bubble" economics that we're suffering from now. As for high schools, I would challenge you to find an American public high school student who even knows who Keynes was. Such a find would be rare.
I retired at age 26, but that doesn't mean I quit serving others, though. I am NOT a wealth accumulator; I am a wealth creator. There is a very important difference, like the difference between making spontaneous passionate love and having an abundance of scheduled sex.
I certainly have no qualms with your dislike for Keynesian economics. It's a system designed by the plutocracy (namely the Gov.) to avoid the limitations of classical economics. There are however a few points. 1. It's been debunked that you can't inflate your way out of debt. The continual devaluation would concurrently increase the interest to service the debt, eventually causing a default.
2. The banks did have to be bailed out to the extent that the FDIC was underfunded to insure depositors. There is also a moral hazard in allowing debtors to mutiny against the bank by default in hopes of waiving their obligations.
You're conflating teaching, with teaching science. Economics is NEVER taught as a science, and never should be...it's a social-science, a soft science, and no more or less scientific as sociology or psychology (none of which is HARD science as chemistry, physics, or biology) Go to any science department of any school and you will NOT find economics in the curriculum. You'd be hard pressed to find a Keynesian economics class in any public school. You're also strawmanning Keynesian economics.
@verstwo2 Keynesian econ theory is taught as part of the standard HS curriculum. Students are taught the importance of Central Banking while Austrian econ is not taught. This is presented as fact rather than an unfounded theory. I agree, in university Keynesian econ is taught as "soft science" but still as scientific nonetheless - not unfounded propaganda with no scientific backing or predictive ability - again Austrian econ is ignored in university despite being more "scientific".
@lorax2013 This is utterly incorrect. When I took economics in high school (only a few years ago), it was taught (for the vast majority of the material) under the principles of Hayek. Now, being an economics major at an elite university, it is also taught primarily under the principles of Hayek and Friedman, with the Keynesian ideas taught in certain classes such as money credit or topics in macroeconomic theory.
@lorax2013 I agree economics is not scientific at all. Money is only worth the value we give it and according to some people its only worth the paper its printed on. I challenged my econ 201 teacher at college with question about the CPI not including gas and food, the Federal Reserve, Fractional Reserve Banking, all of which he didnt know about or have answers to and wrote my final 15 page paper on how corrupt Tim Geithner was and his connections to the New York Fed and AIG and recieved a F????
@OhVeryNice1 - It's not my fault if people are unable to articulate themselves well. I understand his point, I disagree. Something's amiss when you contradict yourself several times in one 6min vid. Not to mention his assumption that all economics is about playing the stock market...which it most definitely is not - or else all economists would be stock brokers and all stock brokers would be economists. It's hard to take advice from someone who doesn't seem to understand basic definitions.
@verstwo2 Oh nnoo it's a straw man! Actually, you are the one using a straw man argument, because the point of his video was not whether or not economics is a science or not.
However, with all the b.s. formulas and jargon it is presented as a science to those who don't know any better.
Economics is much more like religion than science and like religion has both true believers and the totally disingenuous as it's prophets- both of who are dangerous and destructive in there own ways. If a science of economics is ever found I believe it will resemble biology in that the health of the system will depend on a multitude of interlocking factors that need to be balanced within small ranges.
@cybersphere I did a vid titled "how to succeed investing". I used to put in ridiculous hours studying commodity fundamentals and along with a good knowledge of engineering and world politics, I then ran spread trades in the futures market. IMO, most people are better off earning $ at something they enjoy and are talented at - then save by owning hard assets and don't bother with speculation. I only brought it up because it was relevant to the point of the video.
@cybersphere He is telling you more about this in ALL his videos. And that is you have to understand the big picture and principals at work for yourself.
@cybersphere you want to make some real money, invest in silver, thats real money when this system collapses, it could go up 5-10x present value in next few years.
I watch your movies with great interest, study economics, and would like to talk to you via mail. If you say you retired at thirthy, did you do that by owning value retaining objects alone? Or did you have a capital to start with, or did you sell a business? If you did it with by owning commodities, could you tell me how to succeed myself? If you could mail me I would appreciate it greatly. sebastiaan_debie@hotmail.com see you!
It does matter that the public believes that the world is six thousand years old. All irrational thinking is dangerous because it makes people more easily duped by the propaganda because they're thinking like stupid kids gullible to stupid ideas.
Everyone needs to hear this - its called common sense ! Like not giving banks bailouts for failing - rewarding them! Or why banks have so much power? but the media programming is so very powerful - no one questions much anymore....
Thanks for sharing your perspective Loren. Appreciate.
@ohnoyoudidntx I hope you were being sarcastic. Free market economics is against centralized banks and governments bailing out banks. What we have now is fascism (collusion between private banks and the government) not the free market.
Even with applying a logical process isn't enough to make predictions because we don't hold things constant in the real world, and often times independent factors come in and can enhance or dominate the effect you predicted. At best we can only make qualitative analysis or quantitative only by making the statement that the results will only hold if nothing else affecting the variables changes. So I don't think the point of the theory is empirical prediction and I don't think it should be.
stealthswimmer 3 months ago in playlist Econ News
Austrian School of Economics. Hopefully, Ron Paul will be somewhere in the next 2012 administration.. Great job! Very insightful.
SeaWolfPac 8 months ago
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This guy is a f... moron, this guy is not only a criminal, he's very sick too. He stole a lot of money using 10 creditcards, the banks and IRS are after him big time and now he's trying to sell his house which is under a trust cause he's getting scared. And for all you women out there, don't ever date this guy, he will pretend he's such a nice decent guy, but instead he has a second agenda, he's very insecure as a man and he needs to mess up women's lives. This guy is seriously sick.
DutchGirl13131313 10 months ago
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This guy is a f... moron, he's acting like he's all that great, but this guy is not only a criminal, he's very sick too. He stole a lot of money using 10 creditcards, the banks and IRS are after him big time and now he's trying to sell his house which is under a trust cause he's getting scared. This guy is a criminal first class so don't think he's all so good, he may know how to invest on the market, but he plays an unfair game.
DutchGirl13131313 10 months ago
I am very interested in knowing what you did or what system you followed to be able to retire yourself in your 30's...what books have you read? etc...great posts!
nolo430 10 months ago
go study ellen brown - web of debt
iglwy 11 months ago
I'm studying (keynesian) economics at high school in Australia, I feel that it is mildly propaganda but not in the way you put it with the banks and all, in essence it idealises capitalism (or a, 'market based' system). For example the textbooks only talk favourably about deregulation, often saying it leads to more competition, what they fail to mention is that thanks to deregulation we have to pay expensive fees to switch banks or internet companies, which certainly isn't competitive.
jmel93 1 year ago
Comment removed
CytherLynx 1 year ago
@jmel93
I think you have some ideas wrong or not fully developed by reason and information. Keynesian economics is flawed just read the history and what was going on at the time. Read Keynes's pre-position, mid position and then after position. Read his opponents and what he said to them. Keynes admits his theory or idea was flawed and disproven by his opponents and individuals like a hundred years before. He said he only wanted it practiced(at one point) for the the great depression.
Ryukikon 7 months ago
@jmel93 its funny how school books show so much bias, i remember within a two year span the same books at my school went from middle of the road view to very biased by ommiting facts that were critical. good luck!
SRT480 3 months ago
@SRT480 I have since finished school and the economics course got became insane. They (the teachers/textbooks) pitched to the class that global markets utilising slavery or poor working conditions (referred to as an "efficient and competitive labour market") are fantastic. They also argued that minimum wages should not exist and consequently around 15-20 students in my class agree. In my opinion a minimum wage is the pillar for human rights, as food, water and shelter all need to be purchased.
jmel93 2 months ago
@jmel93 if these arent given as basic human rights what you get is the masses struggling hand to mouth and a select few who are wealthy beyond any sane measure. the down side is only that these few dont have as much desposible cash. i dont see that as a problem.people argue with this because they hope or dream of being in that elite status group damn the rest of us.
SRT480 2 months ago
You had me all the way up to "Austrian School of Economics." That I don't believe would be the best alternative, though I do agree with your assessment of Keynesian economic theory.
BobTheProphet2010 1 year ago
I started doing an economics degree and couldn't deal with the nonsense of keynsian economics being taught to us. I had to switch to something else.
Esoparagon 1 year ago
Amen, Brother.
2tim149 1 year ago
Well spoken. thank-you for this.
Ron Paul 2012
TheAttackRat 1 year ago
Should we take out our money from banks and put it into gold or local credit unions?
giaofnature 1 year ago
@giaofnature GOLD
TheAttackRat 1 year ago
For one who is retired you have a lot of stress on you, I can tell with your eyes.
aaronmoravek 1 year ago
isnt the 0 precent bank intrest rate only over night with banks not being to borrow that money for like 2 weeks or something. and if no one can compete with banks for issuing debt at low interest wouldn't it follow that there would not be such a think as stock? as companies would borrow from banks and not the people. also ... wouldn't it follow that banks wouldn't issue stock because they can borrow money from the government ? please help me
or does the interest not play a part,
s577151 1 year ago
@s577151 “The most powerful force in the universe is compound interest” jewish albert
s577151 1 year ago
country's will always be in debt if they keep up the fractional reserve system, inflation will be fast and we will all be slaves relying on the government, you can't even grow your own food now, monsanto, the banks and others want the New World Order. when hitler wanted to take over, was n't he hated? but these guys do it and the sheep just carry on playin xboxlive etc.
elvisneedpoo 1 year ago
The instant that someone comes up with a working theory of Economics, there is someone with a plan of how to work around the economic theory. Most all of the Pyramid schemes, work within the law and around it.
handydude6 1 year ago
great job Lorax. .I'm loving it!
finefilth 1 year ago
Another reason Wall St banks receive special treatment is because they own the stock of the Federal Reserve. And the Fed prints money for the US gov't. The Wall St banks buy treasuries which provide funds to the gov't without directly taxing the voters. Keynesian methods allow the gov't to spend money now that will be paid back by taxes later. Good for the politicias, good for the banksters, and bad for everyone else.
budb11 1 year ago
Well said .... wake up all good people.
StandUp555 1 year ago
What if people started buying goods with silver? The Feds become irrelevent, because the Feds cant compete with "Real Money"
Tanarus20 1 year ago
Austrian Economics is a fair system, Keynesian Economics is a choatic system, it actually bankrupted a country (i.e. Zimbabwe).
joecar314 1 year ago
danger0usknowledge 1 year ago
@danger0usknowledge, the term "economic cycles" is a misnomer. All booms and busts are created by the expansion and contraction of credit. The power to issue credit, which is the power to create money is solely in the hands of private banks, not the gov't. That's right, our gov't does not create our money. Therefore, productive citizens & politicians have no say in the economic cycle, which properly labeled should be termed economic manipulation or theft. Please look behind the politics.
iamgabrielf 1 year ago
danger0usknowledge 1 year ago
@danger0usknowledge, Krugman wanted 2T in stimulus in '08. Agreed. I also agree that we need economic stimulus because the money supply is contracting. However, where I disagree is that the stimulus money should not be borrowed. Banks create money out of nothing. They claim that if gov't monetized debt there would be hyperinflation. However, we've just been thru 2 hyperinf cycles (dot com and housing). Private credit creation is no panacea because it comes along with interest payments.
iamgabrielf 1 year ago
@danger0usknowledge, what I'm trying to convey to you is that politicians have little say in the expansion and contraction of credit; although they should. If the people retained the power to create money, politicians would be forced to return their accountability to its proper source.
iamgabrielf 1 year ago 2
This has been flagged as spam show
@iamgabrielf And for all you women out there, don't ever date this guy, he will pretend he's such a nice decent guy, but instead he has a second agenda, he's very insecure as a man and he needs to mess up women's lives. His game will take just as long as you'll let him. This guy is seriously sick, stay away from him.
DutchGirl13131313 10 months ago
@iamgabrielf Love your comments.
SuperNewf1 1 year ago
@SuperNewf1, thanks.
iamgabrielf 1 year ago
austrian economics and reductionism etc etc it's a science. Keynesianism is mysticism and illogical.
Sivels 1 year ago
Do banks have more leverage anywhere in the financial market or related markets, if they have more people with their cards and the more people use them, independent of whether or not they pay them off on time?
I ask, because I don't deal with these large banks much, aside from credit cards.
DJBucs2005 1 year ago
you're so right... we are screwed
lovepeace2you 1 year ago
Another great video Lorax...thanks!
AccuracyMarked 1 year ago
This has been flagged as spam show
The Money Masters - How International Bankers Gained Control of America (3 hr 35 min):
video.google.com/videoplay?docid=-515319560256183936#
Reflections And Warnings: An Interview With Aaron Russo, Entire Film (1 hr 35 min):
infowars.com/reflections-and-warnings-an-interview-with-aaron-russo-entire-film/
America Freedom to Fascism (1 hr 49 min):
video.google.com/videoplay?docid=5355374476580235299#
SUSs2002 1 year ago
It's all a big scam. Indoctrination by means of educational system to buy into the BS! Yes, social control through the head of the snake, namely The Federal Reserve System which is a private Corporation and prints money out of thin air and whoever controls the money supply, then controls the government, hence the masses.... (educational system, mainstream media, etc.)
SUSs2002 1 year ago
Uh, the Fed doesn't loan money to banks at 0% interest--that's the federal funds rate, which is different. The rate that the Fed loans money to institutions is called the discount rate, which is a little higher. Also, your counter example regarding fiat money isn't valid; the difference is that counterfeiting doesn't ration money so there's no incentive to work. And Keynesian macroeconomists do make predictions--for instance the Fed releases projections and their standard margin of error.
crambo0349 1 year ago
this guy is exactly right, but once i come back down to earth i realize yes i am a slave stuck in the middle class but once an enitity such as big banks reaches a threshold of a particularly large capacity they will either stay in control or take thier money and run theres nothing we can do but dwell on it so i have to retrain myself to enjoy extremely simplistic things to retain my sanity,its completely arbitrary but its my only logical tool even though the process is illogical.
ClintonLee0711 1 year ago
@ClintonLee0711, there is something you can do. It's still a small movement, but some have referred to it as the modern civil rights movement. It is the returning of the power to create money to its proper source, the people. Today, private banks create our money supply, and as long as this continues, politicians will look only to them as those whom they must serve. There are ppl working to arrest the power of money creation from the banks, chief among them is Ellen Brown.
iamgabrielf 1 year ago
this vid was absolutely genius
screenflicker1 1 year ago 2
Just caught your interview on Max Keiser and looked you up. It wasn't easy to find you. I will enjoy watching your commentaries. P.S. happened to come across an essay you wrote for Financial Sense back in 07. I am a big fan of that show as well.
ipatrick69 1 year ago
@ lorax (and only lorax)
response to 1:55 - Wouldnt a logical solution be to make all banks not-for-profit?
response to 2:48 - There is no such thing as anything but fractional reserve banking. It is not a fraud. Its the only logical way to do banking. How would full reserve banking work in its place?
response to 4:20 - Would you agree that ownership is the problem? Shouldn't industries be socially owned instead of privately owned by individuals?
DeluxeGoldTop 1 year ago
"if that were logical then you would just legalize counterfeiting" isn't it funny how few folks catch on to all that is in that statement?!
libertymagnet 1 year ago
ive always respected your opinions. many people argue like they know what they are talking about. theres something about your arguments that feel right when i think about them. keep saving the world.
chaceburke 1 year ago
I like how you closed this video Lauren, its a nice change of pace from suddenly cuting off the footage.
doorman360 1 year ago
bravo!
aurajenn 1 year ago
Only if you are an elitist/banker/rothschild/Rockefeller do you know the agenda.
PantsThatDontFit 1 year ago
No. Leave off the anti-semitism. Bankers don't actively try to go bust and they genuinely believe they're making money from sound investment i.e. by public benefit (following invisible hand) but because for the last few centuries, war, and in the 20th and 21st century, Socialism, have required huge expenditures largely from the means of taxation yes, but also from confiscation of money or its purchasing power through bank inflation/embezzlement. Banks are just the guns. Govt pulls the trigger.
Nintendomanwill 1 year ago
@Nintendomanwill
In other words, you don't know the agenda. Do you work for the ADL? I never once mentioned Jews.
PantsThatDontFit 1 year ago
I don't see where you're getting at with this. Evolutionary biology and even astronomy have questionable predictive value, yet should they be taught as non-scientific?
Slimdawgc 1 year ago
i agree about the early state of keynesian economics which leans more towrads an ideology rather than a scientific set of theories but i strongly disagree with the fact that economics is not a science. in the last few decades the forecasting ability of economists and financial analysts has improved significantly. what has not changed is the excessive risk appetite and incorrect applications of gains made in econometrics by market participants and regulators.
alexgramma4 1 year ago
@alexgramma4 keynesian economics is not based on natural law. It is a theoretical contrivance describing fiat currencies and how gov'ts and fraudsters can funnel off real goods/services (wealth) from the people they've duped into accepting that fiat. Kenesian economics is not an ideology it is farcical.
libertymagnet 1 year ago
Comment removed
alexgramma4 1 year ago
Theres a big problem with economics on a national (or international) scale, the fact that it is so political (or maybe, politicized). On a grand scale, it will probably never be taught in any way that even come close to being objective.
rexdeodium 1 year ago
Monopolies.. interest rates propaganda.. Banks Governments ὀλιγαρχία, oligarkhía inside Governments.. intentionally failed.. economic cycles.. rinse repeat
brightlightbabe 1 year ago 7
This is interesting challenging talk and questioning the status elite too many are distracted by the controlled media and other pyramids interest is propaganda.It makes you wonder commercial banks are monopolies world wide may be a front for it's Government connection as Oligarchy for.example.Rothschild families finances banks held economic financing for a long long time.
brightlightbabe 1 year ago
I like how you use basic logic to defeat stupid arguments such as Keynesian economics. Another five star video
niggaflies 1 year ago
well said!
RashtraVishnu 1 year ago
I think I got so board I peed myself. Wo wait sorry great video loved it anyways the logic I am thinking is that you should come over and watch THE PEOPLES SHOW.
The new two part episode two show just done today. AND I KNOW YOU FEEL ME
night757wolf 1 year ago
Those investors Like BLuffit and Roger Dodger are Nothing but Gov Propaganda Artists and crooks
Unfortunately this Guy talking is also Conditioned
Bernnie Madoff with your Money
Goldman has sacks of your cash
LottsaLasagna 1 year ago
It's all Fraud..As is the 14th Amendment US Citizen
LottsaLasagna 1 year ago
The bailouts were mostly demanded by the prevailing neoclassical economists, not by Keynesians. Keynesianism has not been the prevailing movement since the 1970s. The neoclassicals are in command now despite the abject failure of their policies.
lordhighexecutioner 1 year ago
Banks having monopolies over issuing credit has nothing to do with Keynesianism. Money has value because governments demand taxes in it, that's where it gets its value, that and the attractiveness of the market in which those taxes must be paid. It is not fraud. Does gold really have intrinsic value or did its value derive from it being demanded for tax paying purposes? Keynesianism is not about coddling the banks. This is a gross misrepresentation.
lordhighexecutioner 1 year ago
It is not intuitively illogical. Let's say I wanted to build something and have a team of employees ready. Don't you think I want to get the money before proceeding? If you produce that money out of nothing, I will take the money and build that thing and more production will happen. Now, if you stupidly say "let's not print money" then I won't be able to start production and my workers would remain idle.
lordhighexecutioner 1 year ago
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KaosRowan 1 year ago
Comment removed
KaosRowan 1 year ago
Is our solution to go back to the gold standard? Or a precious metals standard?
envyshoes 1 year ago
Great video M8
MicrosoftsourceCode 1 year ago
So what are we supposed to do about this?
loraxpro 1 year ago
Lorax, i have been watching you for over a year now ! please do more frequent videos. especially on economics and investing.
question: do you recommend paying off a home mortgage or using the money to invest in the market ?? please advise.
c
buzznews1 1 year ago
@buzznews1 It's not that simple :) If you can earn investing at least 4-5 percentage points more (without a fail) than your low mortgage fixed-rate, then I'd take advantage of your low mortgage rate. Let's say, if you saved a significant chunk of 'change' perhaps as much as $100,000 it might make sense to invest, but it depends on so MANY factors as well (risks, term, if you have credit card debts etc etc)…continued
5gorgeous 1 year ago
@buzznews1
Part2:
But the risk is TOO high, if you loose that money it may result in loosing the house. But if you pay half or part of your mortgage (if you can afford it), you'll end up paying less to the bank in interest. Say, even if you'll make some profit with investing, in the long run it's still I think will be less than what you'd save by paying less to the bank :) …continued
5gorgeous 1 year ago
@buzznews1
Part3:
But again, there are some complexities like, for instance, tax deductions for mortgages (which I think are over-rated) etc etc. Any way, use the internet to educate yourself and run some numbers, I think in the long run you'll save more on the interest by paying less to the bank and you'll end up building equity more quickly :)
5gorgeous 1 year ago
Keynesian methods are an excuse for banks and governments to confiscate the wealth of the populace, hence the widening gap between rich and poor...
xXU2BerXx 1 year ago
Great video, very thought provoking!!! ;-)
xXU2BerXx 1 year ago
Keynes didn't advocate giving money to failing banks - he advocated giving money to people who would actually do something useful with it. Yes, the government should spend in a down turn because the private enterprise system tends to boom and bust. However, he also advocated collecting enough taxes in the boom time to cover the bust - government was supposed to be the shocks for the economy and private enterprise the springs.
fluffymcdeath 1 year ago
You have a strawman Keynes. Keynes simply says that private enterprise unfettered goes awry. Public policy has to moderate private enterprise. What we see is that he was right. As regulation and regulators backed off and the public oversight became infiltrated by private interests the economy while apparently doing well was actually going off the rails.
fluffymcdeath 1 year ago
Banks are chartered to create credit. That is their product, that is their job. Credit (and paper money) are promises and banks trade in promises acting as brokers for the creation of new promises - which creates the obligation to fulfill those promises. When well regulated (and that means enforced too) it can work quite well. Bankers aren't supposed to get rich. However, when the business of creating credit was opened up to just about everyone it blew a bubble too big to deflate safely.
fluffymcdeath 1 year ago
How are you invested now if you don't mind me asking? Gold, silver? Mining companies? Calls on mining companies?
Alexharcourt 1 year ago
Economics based on group behavior & mkts
which are not rational b/c the invisible hand
& the John Galt's are too busy defrauding & allowing fraud.
Fed Chair Greenspan didn't believe in investigating Corp fraud.
When the hated Elliot Spitzer forced AIG's CEO Greenberg to resign in
2005 b/c of fraud, he then had Goldman Sach's CEO Paulson
to deal with in 2006 except that Paulson was now Sec. of Treasury.
Goldman was on the other side of AIG trades & Spitzer
knew it. Spitzer had to go.
danger0usknowledge 1 year ago
the chicago crowd around obama is a bunch of 'behavioural economists' their technique is to condition the public to accept austerity so their friends can make off with the loot. this includes job recycling and 'greenwashing' whatever they have to convince you of so that you can have more wealth leached out of you.
counterfeiting has been made legal. thats what the federal reserve does. it is unconstitutional unless congress utters the money.
NeoMorpheus911 1 year ago
These days the truth and the official truth are way different. i bet if you began to torture the chain of command on the Gulf of Mex disaster, you would find that it is a gambit played by Cheney and some of his super wealthy, power crazed buddies. All this waste, death and destruction for profit. A small amount of this has escaped, and the prices will start to multiply.
hypnofan35 1 year ago
Printing more money is essentially about creating ever increasing disparity. It is simply cruising for war, and war generated disparity.. Back when i was growing up they has war time specials, where they would make one up and send the babies off to war. It has something to do with the upper crusty controlling the birth rate of the poor. The most irresponsible power people want to procreate...
hypnofan35 1 year ago
@hypnofan35 The big myth with money is that the rich tend to believe they are valuable because they have money. Everything has to be changed to money before it can be exchanged. Everything equals money before it can equal something else. If someone steals your money then everyone else doesn't like you because you don't have money. In a starvation situation then the rich have to revert to spears and axes.
hypnofan35 1 year ago
I love your videoes, I find myself educated, unlike when i watch most of the stuff on Youtube. It's especially liberating to hear your liberal views on economy, in Denmark atleast the Austrian school of economics isn't even regarded as a serious alternative to Keynes
Keep up the good work!.
andemagt 1 year ago
Under that definition of science, biology is not a science. According to Richard Feynman, economics is a science.
BipedalHumanoid 1 year ago
science does not need to have predictive value the way, at least the way I think of science. Evolution is science, but it just explains the past, it does not make predictions where evolution will go next. It's validity is not depending on predictions like that either.
Science is formulating theories about reality that are
-internally logically consistent
-in accordance with empirical reality
For the rest I agree, most economy is propaganda, although Austrian economist work from first principle
modelmark 1 year ago
I agree, they would cut art, music and gym out of the school system, but still legitimize these economic belief systems.
I see how they have closed an entire prestigious art department in a community college (which had professors such as Dwane Hanson in its history) and yet boost up the two year degree seekers of "Business Economics because they see it as a way to make money. It farther legitimizes this ideal of economics being much more important.
AlterEgoTrip 1 year ago
Hi Loren, love the Bob Marley nod. Have there ever been any legal attacks on the Federal Reserve/monopolistic banking system to your knowledge?
skyrminor 1 year ago
I agree with you about the bank bailout. However I think what the government should have done is open up Federal banks owned by the taxpayers and these new banks give out loans to the companies, small businesses and people who needed them. The government (we the people that owned these banks) would get back interest from these loans. Every taxpayer would get an equal share from these banks and everyone would gain. Why give the money to B.o.A.? Oh forgot the people in Texas wouldn't like it.
pongman 1 year ago
@pongman
as a texan I take offense. In fact I have no idea what you just said and how it'll affect me. My plebeian mind must be too simple
manacycler 1 year ago
All I have to say is, if John Nash could come in and introduce game theory in the 50's, and COMPLETELY CHANGE EVERYTHING ECONOMISTS THINK ABOUT HOW THINGS WORK, then their beliefs are not concrete. Not that there is anything wrong with that, but they present their ideas with such arrogance, that it is something they need to remember... I'm pursuing a BA in Economics, and its gotten to the point where I am considering taking a year off of school (before my final semester).
jusblaze99 1 year ago
Hello lorax2013 - Suppose you were not retired but that was your aim. What would you do with $250,000 to $300,000 now. Play along here okay.
itillbeme 1 year ago
How would full reserve banking be a better alternative?
DeluxeGoldTop 1 year ago
@DeluxeGoldTop The answer is not another central bank but competition in currency. Money is just another good/service that should be subject to the free market.
qkholster 1 year ago
great video, awesome subd
mastershakelock 1 year ago
great video br. subscribing for sure. love the bob at the end too!
ckopack 1 year ago
Why do we need private central banks? Why not just lend money to ourselves and cut out the middle man.
slicardy1 1 year ago
@slicardy1 Ron Paul proposed legislation allowing competition in currency but the whores for central banking blocked it in congress.
qkholster 1 year ago
great video
dweber66 1 year ago
Great video. thanks
cpgone 1 year ago
well put, keynesian economics is the STATE religion of our time easily recognizable as such : No matter what the problem is : print more money and paper it over. If anyone critizes them, they simply say the system works and that it has provided for growth and stability and of they are not allowed to continue, there will be problems. It is all LIES LIES and more LIES
wildpett 1 year ago 3
@wildpett Yes, thats the prevailing wisdom in Washington, but thats not what Keynes advocated. He was a product of his time which was far more conservative than the free-for-all we have now.
To be president in today's climate three things are necessary...you must:
1. Pretend to be a Christian.
2. Pledge eternal obedience and fidelity to Israel.
3. Solve all financial problems by borrowing or printing.
Of course the pres cant print by himself so he has to appoint a compliant Fed chairman.
Teller3448 1 year ago 6
THANKS for another great video. Please keep them coming.
atomichockey 1 year ago
im really glad you started putting videos up again. in every one i learn something i had would have never learned in my life
Drummer2k7 1 year ago
Lorax--do you know it was your videos--that changed me and helped me--thank-you
tokyorealestateman 1 year ago
it's a part of fascism in the foundations of our society.. privileges for private companies above "democracy" that no one else can ever dream of
clarkcolt45 1 year ago
Austrian economics is outdated lorax, I'd hope you'd realize that. The answer isn't austrian economics, its something completely new and undiscovered.
yngbullwnohorns 1 year ago
@yngbullwnohorns - So true and that’s not often discussed. A new system may have remnants of the current structures but operate from a different paradigm of reality completely. Our physical worlds is not created from money or gold or some arbitrary symbol of “wealth” . The only way to bring something into physical reality from the unmanifest into the manifest world of forms is through consciousness ....that’s it ! Everything else is just a belief structure .....
nichaeloz 1 year ago
You really have a voice for talking, you are calm, easy to understand and make you're points in a simple way.
I cant say I speak for everyone, but I think you would be surprised at how many agree with you're points when it comes to food, peek oil, and economy. I can identify myself in your views, also there is no political bias. Something that I'm sure many are happy about, seeing that almost everything we get today has been tailored to fit an ideology of sort. Thank you.
malefica1 1 year ago
I don't think the people think the banks "deserve" these rights,they just don't want to think aboutit as long as they have their comfortable distractions and plentiful cheap food they can buy.It would appear to me, that the apathy to this situation means when and if the other shoe should drop, it will either be sudden, with quick domino effect results, or "death by a thousand cuts".What are your thoughts?
tet43 1 year ago
Great video, best explanation Ive ever herd.
DaleElder11 1 year ago
Great vid. But the system in power will always seek to protect itself.
What is taught as "nutrition" in our schools is also a travesty.
MzProgressive 1 year ago
Great vid Bro! *****
jimbobubbadj 1 year ago
Im from the UK and thourhgt out all off my school years i never got taught about money or economics, as least ur country mentions its
darksettler 1 year ago
There is a further confusion here between what is science and what is mathematics.
Mathematics is not science and neither is economics...but both science and economics use it.
Teller3448 1 year ago
The banking industry was not so monopolized in Keynes's time...and what passes for Keynesian today is not what he envisioned.
By monopolized I mean concentrated among three mega banks.
Check out the interviews on youtube with Hayek on the subject of Keynes.
Teller3448 1 year ago
true
warezvz 1 year ago
Despite other major incompetence in US government, Keynesian principles sustained US economic stability from about 1940 until they were dismantled by Reagan and replaced by the disastrous "trickle-down" and "bubble" economics that we're suffering from now. As for high schools, I would challenge you to find an American public high school student who even knows who Keynes was. Such a find would be rare.
crabbster21 1 year ago
Lorax you're vids are so frikkin cool - You're award winning haircut and voice of reason and logic.
Those sparkling blue gems you call eyes that could be made into precious gems.
Those modest yet stylish shirts. I'm extremely grateful to have found your channel all on my own. =)
Iseeyoursoul 1 year ago
What a coincidence that government schools would preach expansion of government power in the economy.
chris3443 1 year ago
Can you tell us how we can start learning how to predict the market? Any books, websites or forums you advise we study? I'd like to learn.
envyshoes 1 year ago
I always appreciate your analysis Lorax. Thank you
zoomboost 1 year ago
LOL! I love your vids!!! You make things simply understood!
EntouchNetwork 1 year ago
I retired at age 26, but that doesn't mean I quit serving others, though. I am NOT a wealth accumulator; I am a wealth creator. There is a very important difference, like the difference between making spontaneous passionate love and having an abundance of scheduled sex.
carefulcarpenter 1 year ago
yes! i agree with you 100%...
IChoseTheRedPill 1 year ago
I certainly have no qualms with your dislike for Keynesian economics. It's a system designed by the plutocracy (namely the Gov.) to avoid the limitations of classical economics. There are however a few points. 1. It's been debunked that you can't inflate your way out of debt. The continual devaluation would concurrently increase the interest to service the debt, eventually causing a default.
lcbaudar 1 year ago
2. The banks did have to be bailed out to the extent that the FDIC was underfunded to insure depositors. There is also a moral hazard in allowing debtors to mutiny against the bank by default in hopes of waiving their obligations.
lcbaudar 1 year ago
Great and accurate information, thank you!
drutter 1 year ago
You're conflating teaching, with teaching science. Economics is NEVER taught as a science, and never should be...it's a social-science, a soft science, and no more or less scientific as sociology or psychology (none of which is HARD science as chemistry, physics, or biology) Go to any science department of any school and you will NOT find economics in the curriculum. You'd be hard pressed to find a Keynesian economics class in any public school. You're also strawmanning Keynesian economics.
verstwo2 1 year ago
@verstwo2 Most public universities (which are public schools) teach Keynesianism as the "correct" economic theory to follow.
bunsh1ch1 1 year ago
@verstwo2 Keynesian econ theory is taught as part of the standard HS curriculum. Students are taught the importance of Central Banking while Austrian econ is not taught. This is presented as fact rather than an unfounded theory. I agree, in university Keynesian econ is taught as "soft science" but still as scientific nonetheless - not unfounded propaganda with no scientific backing or predictive ability - again Austrian econ is ignored in university despite being more "scientific".
lorax2013 1 year ago 11
@lorax2013 Central banking should be taught as to how destructive it is.
jimbobubbadj 1 year ago
@lorax2013 Do you ever get mad a blow your cool?..you seem like you are always in a mellow mood.
neanam 1 year ago
@lorax2013 This is utterly incorrect. When I took economics in high school (only a few years ago), it was taught (for the vast majority of the material) under the principles of Hayek. Now, being an economics major at an elite university, it is also taught primarily under the principles of Hayek and Friedman, with the Keynesian ideas taught in certain classes such as money credit or topics in macroeconomic theory.
ketchupandcream 1 year ago
@lorax2013 I agree economics is not scientific at all. Money is only worth the value we give it and according to some people its only worth the paper its printed on. I challenged my econ 201 teacher at college with question about the CPI not including gas and food, the Federal Reserve, Fractional Reserve Banking, all of which he didnt know about or have answers to and wrote my final 15 page paper on how corrupt Tim Geithner was and his connections to the New York Fed and AIG and recieved a F????
ProfessorT07 1 year ago
@verstwo2 Once again, getting stuck on the "words" and missing his point. Man, its gotta be hard to be Sensor in life.
OhVeryNice1 1 year ago
@OhVeryNice1 - It's not my fault if people are unable to articulate themselves well. I understand his point, I disagree. Something's amiss when you contradict yourself several times in one 6min vid. Not to mention his assumption that all economics is about playing the stock market...which it most definitely is not - or else all economists would be stock brokers and all stock brokers would be economists. It's hard to take advice from someone who doesn't seem to understand basic definitions.
verstwo2 1 year ago
@verstwo2 Oh nnoo it's a straw man! Actually, you are the one using a straw man argument, because the point of his video was not whether or not economics is a science or not.
However, with all the b.s. formulas and jargon it is presented as a science to those who don't know any better.
okvideos5 1 year ago
Economics is much more like religion than science and like religion has both true believers and the totally disingenuous as it's prophets- both of who are dangerous and destructive in there own ways. If a science of economics is ever found I believe it will resemble biology in that the health of the system will depend on a multitude of interlocking factors that need to be balanced within small ranges.
billybobhobnob101 1 year ago
"I retired myself in my 30s" - Would be interested in hearing more about this.
cybersphere 1 year ago 5
@cybersphere I did a vid titled "how to succeed investing". I used to put in ridiculous hours studying commodity fundamentals and along with a good knowledge of engineering and world politics, I then ran spread trades in the futures market. IMO, most people are better off earning $ at something they enjoy and are talented at - then save by owning hard assets and don't bother with speculation. I only brought it up because it was relevant to the point of the video.
lorax2013 1 year ago 9
@lorax2013
could you make more vids on trading (like.... daily ideas?) I want to trade, but i need more guidance
jusblaze99 1 year ago
@cybersphere He is telling you more about this in ALL his videos. And that is you have to understand the big picture and principals at work for yourself.
OhVeryNice1 1 year ago
@cybersphere you want to make some real money, invest in silver, thats real money when this system collapses, it could go up 5-10x present value in next few years.
gerryboy3699 1 year ago
@cybersphere
alexgramma4 1 year ago
keingseing economics? how do your wriite it? I want to research more. Please tell me how to write it.
Hulkmania316 1 year ago
@Hulkmania316 Keynesian
mothertory 1 year ago
This has been flagged as spam show
I watch your movies with great interest, study economics, and would like to talk to you via mail. If you say you retired at thirthy, did you do that by owning value retaining objects alone? Or did you have a capital to start with, or did you sell a business? If you did it with by owning commodities, could you tell me how to succeed myself? If you could mail me I would appreciate it greatly. sebastiaan_debie@hotmail.com see you!
Washala 1 year ago
It does matter that the public believes that the world is six thousand years old. All irrational thinking is dangerous because it makes people more easily duped by the propaganda because they're thinking like stupid kids gullible to stupid ideas.
888zzz 1 year ago
@888zzz
Nice, well put!
drutter 1 year ago
Everyone needs to hear this - its called common sense ! Like not giving banks bailouts for failing - rewarding them! Or why banks have so much power? but the media programming is so very powerful - no one questions much anymore....
Thanks for sharing your perspective Loren. Appreciate.
UncoverTruth 1 year ago
you are right as always, thanks
pieater53 1 year ago
i love watching ur lips. its sexy
ohnoyoudidntx 1 year ago
glad to you see you're making more vids on economics :)
zuiprax 1 year ago
Your words to gods ears.
davincij15 1 year ago
great! keep the videos coming
gregpent 1 year ago
keynesian economics is liberal bullshit, a facade created by big gov to facilate big gov.
ORVX 1 year ago
down with capitalism!
ohnoyoudidntx 1 year ago
@ohnoyoudidntx the world has never had capitalsim in your life time, .....down with morons!
ORVX 1 year ago
@ohnoyoudidntx I hope you were being sarcastic. Free market economics is against centralized banks and governments bailing out banks. What we have now is fascism (collusion between private banks and the government) not the free market.
qkholster 1 year ago