We're turning into Greece: That's Bullshit

[notdonebefore]

Doesn't seem like bullshit anymore...

[cloudshe]

seder, your videos just seem dumber and dumber the closer we get to "Greece" level problems, just like all those folks you were making fun of were trying to warn. of course i've yet to mention how juvenile your analysis of social security was, how That was a non-problem. how can you be so consistently Wrong and still claim BS on Real people of substance

[jerico641]

I'm convinced that conservatives just want to cut every social program they can get their hands on; that's why they'll run with any excuse they can to work up fear in the populace that we're about to go under and the first thing they always want to cut is social security, medicare, welfare, etc. Why not cut defense spending or the DEA? Nope, can't do that; we might be overrun by crazed crackhead terrorists!

[cloudshe]

@jerico641 funny how current plans are to make major cuts in defense, yet social programs are being protected, even the ones just recently (and foolishly) enacted. yet you seem to believe the opposite

[jerico641]

@cloudshe

Really?? I hadn't heard that; well, then, things must be going along much better than I thought...

[cloudshe]

@jerico641 if "much better" means more deficit spending, tax the economy to pay for it, then things get Worse, who does That help? the kool aid drinkers need to do the math instead of taking idiotic pride in their socialist heroes

[jerico641]

@cloudshe

I don't mind paying higher taxes so that fellow citizens of mine in need can get health care or food and shelter when they're out of work and destitute. As a society, we'll be judged in the future by how we treated the least of our citizens. Right now, domestic social programs take up much less of the government budget funding than weapons do, but they're hit the hardest by right-wing politicians as "irresponsible" spending.

[cloudshe]

@jerico641 yes, i agree. however, that historically has never been the case. in good times the budget just grows and grows, then when times are harder, instead of backing off on spending these clowns want to raise our Taxes? how will that help fix our finances? if you are in business and your receipts drop off, do you raise prices?

[jerico641]

@cloudshe

Well, personally, I received a tax cut last year; I can't answer for business owners, since I don't own one myself. But I do know that part of the stimulus package (which obviously wasn't completely successful) included a tax break for small business owners with a certain amount of employees. I haven't heard the President say anything about raising taxes on business owners or individuals as of yet. Just on millionaires.

[dragm3n]

Thats a lot of parthenons??? Really??

You really are free to express your opinion τhrough your videos mate but please not that kind of "bullshit"

[spasiklon007]

You don't have control of your currency! You kept on cutting dollars despite the fact that you didn't have the gold required! And face it, that debt cannot be payed. It's HUGE!

[martinsogrande20]

FUCK USA!! FROM GREECE AND PORTUGAL

[pretorious700]

Holy christ, I have never heard anything so remotely out of touch with reality. Yes, bullshit should be in the title of this vid, because that's all it is.

[mcbain434444]

Fan boys

[MenaceFan]

You're ability to believe things exist in a vacuum is amazing. Investors & countries are confident enough for now, though China & others are slowing buying our bonds due to reduced confidence, but if we continue down the ever expanding unstustainable path they'll disappear. If we allow the Fed to monotize the debt & devalue our currency (allow inflation as the video suggests) it will only further reduce confidence & chase away investors or they will ask for a proportionally higher interest rate

[xadam2dudex]

Greece is having trouble because of the Goldman Sachs criminals.. where ever they have their hands in the pie they bring financial troubles..the US doesn't have any control of the US currency ..it is all controlled by the FED

[bonfirejovi]

ht tp://w ww.bloomberg.c om/news/2010-08-30/gold-rallyi­ng-to-1-500-for-analysts-as-so­ros-s-bubble-inflates.h tml

This is probably the most damaging article to your expectations of the US economy, you better start buying some gold now because even treasury bonds can't save you now.

[bonfirejovi]

So just one question... do you believe their will be a double dip?

[TheContego]

Good stuff, spot on. :) Love the videos, please, please keep them coming. You are speaking the truth and we hear you!

[brendasmithgoebel]

Sammy, we love you! Keep on keeping on, Brenda and JD and your Austin fans!

[Wrapped4]

Correct me if I'm wrong (I'm European but love to follow politics all over the world).

From our side of the world, many believe that the US has a serious problem with tax avoidance/evasion. Do we have the right impression? If yes, why are the right wing scaremongering people? Wouldn't it prompt them more to rise against the elite and demand that the loopholes are closed and the law is observed?

[MrGnarus]

China does not need us to buy their shit they are building an internal economy and buying raw materials around the world and are modernizing their housing and infrastructure. Their middle class is increasing and could provide the consumers needed to consume the goods they manufacture. You may be doing great but there are nearly 40 million Americans on food stamps who would disagree about being able to absorb any amount of inflation. Greece, no. Worst, yes.

[NCAJAX]

You'r quite correct Samuel all this talk of our growing debt and our shrinking G D P is all just to scare people. Our governments spending habits are very sound. You'r also rite on the money when it comes to China not having any concern over our debt which is obviously illustrated by them buying so many T bills. America is spending more than it makes but there are never any ramifications for such behavior, not to worry it's just "neo cons" trying to scare you. Simplistic fool.

[SamSeder]

@NCAJAX short of half ass-ed sarcasm, poor spelling and grammar you haven't given me much to respond to...

[NCAJAX]

@SamSeder You could respond to your ignorance in your optimistic appraisal of the US economy rather than being a spelling nazi. If the evil Republicans agreed with evolution would you become a creationist? Your desire to paint things either black or white or Republicans bad democrats good defines you as lacking the ability for critical thinking. China is buying our debt to burry us not because it has confidence in us

[SamSeder]

@NCAJAX you don't seem to know much about Nazis or economics. Yes, China gains some leverage when they hold our loans, but if they plan to "burry" us by buying our debt, they should be prepared to be lying in that same hole along side us. If someone owes you billions of dollars & they can't pay it back you are screwed too. I'd add, it's not just the chinese buying our debt & it's not just GOPers spreading this bullshit deficit fear. black and white? try reading up on what you so glibly comment

[NCAJAX]

@SamSeder It is China that should be concerned. What happens when Tony Soprano owes you to much money. It's better if you go away. Look for China to become terrorists in the near future

[SamSeder]

@NCAJAX I just saw this and think it will end my responses. aside from tony soprano being a fictional character - the other flaws in your analogy is that in this case we are the soprano- we owe china. I'd add that regardless who is the fictional mob character in your analogy, even though we owe china $, they need us to buy their goods- that's the part you dont understand- the relationship is more complicated than a tv show.

[NCAJAX]

@SamSeder Peter Schiff, I'm sure you know of him, he is one of your people. Even your arrogance would not deem your global economic wisdom as superior to his. Oddly enough he has a couple of videos on Greece and it's relationship and correlation to the U S economy. It would seem his opinion is completely opposite to yours. I realize he is but one opinion, but it is a far grander educated opinion economically than yours, and he is not alone in his thinking.

[SamSeder]

@NCAJAX do you mean to say "he's jewish, like you?" Yes, I am familiar with him through my who's who in Jewry newsletter. Yes- he thinks the deficit is a problem and that we are going to experience rampant inflation any time soon. He's said this for nearly two years. There happens to be zero evidence that we are in danger of anything other than minimal inflation (which would be welcome). if you have evidence please forward, saying "a jew who I think is smart disagrees with you" is no argument

[bonfirejovi]

@SamSeder Oh I'm sorry I didn't know you predicted the housing bust and the soaring price of gold. Praise be SamSeder the economic messiah! Inflation isn't showing up because banks aren't lending so Bernanke's easy money has flown through the system yet (look at Mish Shedlock's articles on it). As Marc Faber and David Rosenberg say high inflation will come after the double dip recession when the government try to monetize the debt.

[EasyEs]

@bonfirejovi Lets not forget that his ace that people were buying US debt means that everything is A-ok...investors are avoiding the side show in the EU at the moment, nothing more, the host of this video seems to think that there is no ill effect of government spending crowding out the capital needs of real productive investment.

Governments may always pay, but with out real productive capacity increases they just erode their citizens standard of living, through monetary policy.

[bonfirejovi]

@SamSeder ht tp://globaleconomicanalysis.bl­ogspot.com/2008/12/humpty-dump­ty-on-inflation.ht ml

h ttp://ww w.bloomberg.c om/apps/news?pid=newsarchive&s­id=aIeLg1djbBps

It will be deflation first as the Fed will have to eventually raise interest rates followed by inflation after Bernanke's easy money finds it's way through the system and when the government starts monetizing the debt.

It is laughable that you can be remotely bullish on the US economy given the last month of awful news.

[1tw]

Take it from me: this is the best camerawork on any sam seder show video anywhere.

[Fangs1978]

Nice to see your pretty face again Sam.

[HolyCity2012]

Where the hell is episode two?

[distressed7]

We are not going to be like Greece, we are going to be worse, thanks to the conservatives. They love crisis. They will create a war if they get back into the White House. They will piss people off all over the globe and find another war. I am amazed that the so called anti-government cockservatives sliced up the constitution more than any lib. We have no Habeas Corpus due to "Terrororism". We are more of a Communist state than if the socialists were in power under the cockservatives.

[Venue0309]

American MSM media (especially Fox News) sensational everything. However, the funny thing is if we were actually Greece, and was about to go bankrupt, they would act like nothing was happening, like before the financial collapse. They are so protective of big corporations, and the perverted "free-market" deregulation principals of big businesses that they don't even bother to state the obvious that we are no longer a capitalist country--we are a wallstreet country.

[EFEWQ]

Thank god,USA is not Greece!!! It would be a pity for a country with no criminals,corruption and violence. Seriously is both funny and sad that so many people try to find even the smallest thing in order to insult Greece

[poopaholictar]

Things I would love to see happen in our country:

1. End the war on drugs

2.End all unions

3. End the war on terrorism except for specific missions

4. Cut most federal agencies budget to force efficiency.

5. Decrease welfare payments per child, not increase. We do not need anymore dumb kids raised by terrible single moms whom use them as a financial tool.

[Fearose]

why the hell are watching FoX new

[wingofshu]

lol most of the greece lines were fox 0_0

[BreakingBadReview]

Are economy in trouble because we don't produce anything, and people by products made in China because they cheaper.

[DarkwingScooter]

America's problem is far bigger.

The big issue is not the Debt-GDP ratio. The big issue how much debt you need to take on to keep the government running.

In America the output per unit of additional debt has been decreasing for ages, eventually the piper must be paid. The only way the situation is sustained is because China keeps its currency weak by buying dollars.

Theoretically this could carry on forever, in practice the longer it does the bigger the problem is when it must break down.

[banditontherun1024]

nice. a fellow new yorker. 

[Paulwhoisvegan]

@banditontherun1024 I LOVE NEW YORK!!!!! NYPD BLUE! NYFD RED! NYPT BIG! NYSC HOT! NYCH STRONG! etc

[HConstantine]

If only we would turn into Greece--real democracy, philosophy, literature, beauty--what a paradise it would be!

Oh, you mean turning into that tiny bankrupted Slavic county that is located where Greece used to be, don't you?

[GuyFaux2007]

Awesome!  Gimme more more more more!

[yelobmx]

Hooray for Sammy! So Maron is replaced by bullsh1t.

Grease is the word(is the word, is the word).I mean Greece,lol.

[kburchil]

Great video.  Canada went through this BS back in the 80's. The Conservative government convinced Canadians that we were about to go bankrupt and we had to cut spending on social services. The reality was that Canada's debt levels were very manageable. Read Linda McQuaig's "Shooting the Hippo"

[restlesspride666]

@kburchil I love that title. I just might try reading it.

[jfAntoine84]

Sam Seeder,it:s great to see videos from you,give those bullshiters hell!

[ErickB69]

Glad your back with videos.

[riverpotato]

Sammy's back in the saddle again! Nicely done. Hope to see more soon.

[plasticrev24]

You the man Sam but what's up with that country accent?

[dizzymasekela]

Sam Seder makes hating Republicans fun.

[LY8Ze7xK]

"Reagan proved deficits don't matter" Dick Cheney (allegedly)

[HolyCity2012]

this video gets a thumbs up from me

[Nerdylation]

Depending on what you spend the money on, it actually makes sense to run a deficit because the economy will out grow the negative effects. like infrastructure, education, health, research, and everything else that Republicans hate. Things Republicans like (i.e. the military) don't yield as much economic growth.

[I3ucky]

Sammy! Good to see you back.

[SeaTownGunner]

That's Bullshit

[misterobvious]

It's awesome to have Sammy back, but what's up with the shakey-cam and super- low production values?

C'mon, Kinko's (or whatever they're called now) can print you a nice bullsh*t backdrop or something. Why are people marking this as spam when I said Sammy is awesome?

[misterobvious]

It's awesome to have Sammy back, but what's up with the shakey-cam and super- low production values?

C'mon, Kinko's (or whatever they're called now) can print you a nice bullshit backdrop or something.

[TimBambiStalin]

Very true! all those things Sam said..

Yay! Sammys' back!

[mira2gusto]

great job, sammy! instructive and funny, well done!

[pbfishtaco]

Image Stabilization?

[ChrisIXXIVeritas]

"Where have you gone, Sam Seder?

A nation turns its lonely eyes to you."

[nutmeg42]

thats awesome sam!