US bankruptcy, fiscal 'child abuse' and six-decade Ponzi scheme

[ClockIsRunningOut]

Fuck america's SS and medicare. If you were too stupid in life to save enough of your own money to retire comfortably and pay for your own self-inflicted ailments (and don't give me the B.S. that you never earned enough, you fool), you are a fucking idiot who needs to die in the street. You are entitled to SQUAT in life, unless you fucking EARN IT and are SMART with your MONEY. Lazy credit-dependent self-entitled sue-happy american fucks.

[VideoGameHints]

Might have been a bold statement a year ago.. but look where we are today. US downgrade. #winning?

[ChrisXKelly]

Zombie Regan 2012

[Anarchizer]

If your country has got problems only the enemy will tell you the truth so watch Russia Today you american dummies!

[cheesymogul]

Finally these "economists" are realizing the disastrous situation of our economical system, but they are still unable to see through their OWN ruinous Ponzi scheme?!?

He even babbles about the Fed printing more money... LOL! Like this was really the place where money is being created...

Future generations will look at today's "economists" in the same way as we look at flat-earthers!

[Tobbena]

Remember USA is to big to fail yet . China won kick your legs from under you before they can substain their own economy . They probably view USA as leeches of the wealth they should be having

[TheLifeImprovement]

This video is pretty interesting, does that make me a nerd? We might be able to work together. I help people who have file bankruptcies get a cash settlement

[crackerwv]

@CommonSensePeter There's a real easy way to fix that problem but people don't have the balls to do it. EVERYONE just simply stop paying taxes. Just stop. They can't go after every person in industrialized nations. The biggest problem with people is they are so intimidated by the elite. Just in the U.S. we have 330,000,000 citizens and, at most 100,000 in power. WE'RE the ones scared? I'd really like to know the mentality behind that. I don't understand people's backward ass way of thinking.

[menuvwar]

@crackerwv Another method to fix it is for everyone to abandon their vehicles, houses and material assets. You are relentlessly taxed (punished) for the thought of owning anything. Until YOU beome the supreme OWNER (Allodial Title) of your property, vehicle, etc....you are given a colored paper (Title) granting you permission, but the real ownership belongs to the Queen. Tyranny.

[debris54]

@CommonSensePeter while it certainly is a very close race, I think as Nixon is the worst and most criminal of all presidents... i have proposed a new national holiday... Piss on Nixon's Grave Day.... let's make a FB site for it!

[Hendo1974]

Thanks to the Fed Reserve=NWO Banksters and paid off political prostitutes at capitol hill=politicians that sold out the American People leading to this planned global collapse to bring Global Government=Communism on Steriods=Enslavement!

[welcomegohome]

INVEST IN GOLD!

[Hendo1974]

@welcomegohome Yes, Gold and Silver, the physical, NOT ETF's, See: TheBobChapmanChannel and MaxKeiserTV Channel!

[Donninator1]

@welcomegohome

stay away from gold, and invest in SILVER!

make you rich!

[Eimuxxx]

America is already been sold , and no REFUND

[CurtHowland]

"All taxes would have to be doubled" is an incorrect statement.

What would have to be doubled is tax -revenues-. That means the govt would have to bring in twice as much in taxes as it does now.

Tax avoidance and tax evasion would increase substantially if the rates were doubled, production would drop as demand dropped, decreasing the govt "take".

The politicians will not stop spending. THAT is the problem!

[SilencerRPMs]

@CurtHowland Please you speak so much sense that no politician can possibly understand you. Can you correct that? Thanks

[CurtHowland]

@SilencerRPMs Thanks for the chuckle.

Nothing that Ron Paul hasn't been saying since he first ran for Congress in 1972.,

[pretorious700]

the word he is groping for @9:25 is "balls"

[FairEnterprise]

these are not new revelations he espouses.

[LucentTwinkle]

WE'RE SO SCREWEEDDDD!!

would you like fries with that?

[Kisa8092]

привет

[lgvereor]

Maybe this guy should take some classes in basic math? The United States is doing better off (as a nation) than the United Kingdom even. 62% of GDP (US) > 128% of GDP (Greece), right?

I love how idiots can't count.

[Binerycode]

@lgvereor retard you believe the numbers the govt give you ha look around you people are losing jobs and such and we owe china a lot of money so the us in in bankrupt

[pretorious700]

@lgvereor The US Government statistics are bullshit.

[lgvereor]

@pretorious700 Those statistics are PUBLIC statistics from the other countries, nice try though.

[smokesignals2012]

ameriKKKa has turned into one Big CourtHouse... where u are obligated to Pay Pay Pay FINES, FEES, and TAXES... and more Fines... Fees... Taxes for all tha Regulations... soon ameriKKKans will be Taxed for tha Air They Breath...

[saadasim]

Making war is a bitch. The "Federal" "Reserve" printing money outof thin air doesn't help either.

[riethc]

Reinstate Glass-Steegal! Throw out Wall Streets debts!

[tobiasaurusrex]

When we didn't sprawl, we took care of our elderly by direct kindness.

[billybobhobnob101]

first make all the economists do something productive like be farm hands

[straty01]

unpaid bond certificates are cheap collectibles, promises to pay debt by govt that default, this is what will happen eventually, you wont find any unpaid gold ounces though

[rjbonacolta]

Cut defense spending by half. Tax the rich, tax corporations on any money they make in the United States. Problem solved.

[chuck3377]

This is to get you ready to understand that you are gonna pay huge taxes for military wars only. NO social services will be permitted, the u.s. population will pay huge taxes for military only, there will be NO social services allowed. You WILL work long and hard for the govt/corporate state. You will get NOTHING for your work, you are a slave to the new corporate world order. You have two choices, one be a coporate/govt slave, or fight a bloody streetfight for your freedom, either is hard

[chuck3377]

your gonna pay huge taxes and its only going to be for fake wars, your gonna get nothing, no health, no social security, nothing, your gonna get a shit sandwich, your gonna work your ass off to pay huge taxes for fake wars freedom monkey. Your gonna pay for more state/corporate false flag terror. Corporations will own you, you will be slaves to the corporations. Freemasons will piss on your children and laugh at you stupid monkeys. You are human capital. You will not stand up 2 corporations

[freedomsfart]

The U.S. is turning into a mega banana republic, with a tiny ultra-wealthy, untaxed elite, and a huge uneducated mass waving their flags, hollering about how free they are. U.S.A! U.S.A! We're number one! Sad, really.

[211Alucard]

I hear this guy talking about Social Security and Medicare.He never mention about stop military defense spending,bailing out the cooperate business, and taxing the rich.He must be a Republican.

[1333fuller]

@211Alucard He is saying that the government is looking to cut those services. He is not advocating those services being cut.

[211Alucard]

@1333fuller Those are not services when you pay into it and when you are tax for.

[tucays1]

where has all the gold bullion gone?

[DurexDurpaneu2]

Thank you RT for this awesome interview.

Zeitgeist addendum baby. Watch it. And get the full picture. (yes it is kinda doomsdayish but it's all true) welcome to the new world order. Where the rich get richer, the poor get poorer, and the middle class disappears.

Alex jones as much of a troll that he is... He's being proven correct daily. And that fucking scares me.(even if I live in Canada)

[looneytune3562]

Stop being pro death.

If the American people peacefully make their government bring home all the troops and abolish the fed and wallstreet, clean out the white house etc, the situation would have to get better surely. Help educate your neighbors on what is going on and what has to happen to start the healing. The people must stay peaceful though, unless of course forced to defend their life. The first side to get violent will be the one that loses.

Truth peace and love to all :)

[Heathencrusher7]

Yes America is broke..Baby lets celebrate!!!

[tepstolog]

US is broke..., well, tell us something we don't know !! no solutions here , that i noticed ... (please check my channel for some real solutions) :DD

[overseachininadoll]

Leave the Social Security alone. A hole.

[FranG1214]

Great interview; this professor articulated the grave situation facing the U.S. very well, and seems more objective and less emotionally charged than the likes of Ron Paul, Peter Schiff, Gerald Celente, etc. (all of whom I respect a great deal btw).

[roaringwaterbay]

amerika is broke. thanks american government.

[crackerwv]

This is what happens when you put a private bank in charge of a country's assets. They use their fiat currency and this monetary belief system to trick the people into believing that money has value when it is backed by nothing but DEBT. Meanwhile, these banks cheat the people out of their money THEN USE THAT MONEY to buy up all private property, gold and other assets so when you move back to an asset based currency, no one has anything of value because the fucking banks stole it all.

[gr8mikeY]

@crackerwv Yes, its amazing how even smart guys like this economist here do not mention this. Not once in the entire interview did he say these two words: Federal Reserve

[karenl1234]

as usual now we hear the bad truth where were all the politicians knowing this would happen? if all the politicians did not get private health benefits, private retirement, bonuses all paid for by the american public, war, supporting every country in disasters and lending money to other countries presidents and their families and the elite getting paid for yearly salaries for life notice he left all that out the bail outs for banks , pres wants 50m for roads and jobs again they stole trillions!

[VampyrMentality]

And cut the financial aid to Israel!

[sgentlemanjack112]

is that the same lady who used to have very short hair?

[handydude6]

First things we need to do is kick out all of the dam foreigners who are on welfare. Then clean out the prisons of foreign nationals and send them packing. That would save 1/3rd of the debt right there.l

[elboertjie]

@handydude6 Closing the 700+ US military bases across the world and bringing everyone home would save even more and perhaps even give a good reason for the foreigners to go back to their own countries.

[harveybirdmannequin]

The real situation is even worse that what Kotlikoff says. He's going by official gov't numbers.

The military "black budget"/classified weapons and operations spending is HUGE!

The GDP figures includes worthless junk like financial derivatives. This is unlike China who's GDP number represents real goods and services.

Fiscal child abuse for the Social Security Ponzi scheme also extends to immigrants. So those immigrants dumb enough to think life is better in the USA are the ones getting screwed.

[UKSecretCourts]

US in worse shape than Greece? YIKES!!

[advancedideas]

GO TO WALL STREETPRO2 HE WILL EXPLAIN

[mrzack888]

the interviewer talks weird. he sounds like a retarded version of Christopher Walken.

[igorvasilevsky]

@mrzack888

You must be american, douchebag..

[alphaknave]

@mrzack888 interviewee

[LordDyhalto]

We're all f*cked. What else is new?

[igorvasilevsky]

@LordDyhalto

Not all, not all are americans.

If others are "fucked", it is because of americans, bitches of the planet.

[GeneticsFTW]

@igorvasilevsky Yeah well we can;t live with em and cant live without em. If they fall it is probably going to lead to a civil war and the use of nuclear weapons. Also, other wars will break out as other countries try and gain more leverage on the world stage after the fall of pax Americana

[a41dog]

excellent witness testimony here and proof the financial and economic systems that govern and speculate on our national and corporate interests are 'corrupt' and ' fundamental problems' that 'need fixing' urgently == backs up what I've been saying for at least two years...

see my vids for more evidence and witness testimony...

[a41dog]

excellent witness testimony here and proof the financial and economic systems that govern and speculate on our national and corporate interests are 'corrupt' and ' fundamental problems' that 'need fixing' urgently == backs up what I've been saying for at least two years...

[zayadnay]

the question is, was this fiscal gap concluded from a tax revenue forcast depending on data from this time we're in ?(economic depression time) or does it gives a possibility of going back to normalcy which tax revenues would be much higher than now?

[smjp22]

come on reporter, GET A CLUE! 'dont invest in your country?" DUH! YEAH DONT INVEST, STUPID.

[dikkydoo1]

when you are a criminal organisation and control a fiat currency, the term bankruptcy does not apply, these people have no idea who it is they are dealing with.

[bjorn2run]

This is scary stuff. It appears the only ones who don't believe that the "financial crisis" in the US is are dire as it is, are the US citizens themselves. It's the "whistling past the graveyard" attitude.

It's probably a good idea that the poor, the elderly, and the jobless leave the US ASAP, because life in the US is about to get a whole lot worse.

[28318511]

This guy quotes the IMF figures s if they are not one of the leading instigators of all the woes...

This is just information to make you all feel small, insignificant, useless, just another 'fact' that the average joe can do nothing about.

Fear, fear, fear.

Reform? No danger, a ponzi scheme has only one eventual outcome and that's a fact you can take to the banksters who are raping you.

[davidperi]

Ouch...a 202 trillion fiscal gap....some so called experts says that social security is healthy for couple more decades.

[560e]

It was announced by the Treasury on Dec 15, 2006 that the USA was bankrupt.

Think of how much we've spent since then.

[elantra11]

Just kill the old people, so the "dream" can go on, right ?

The US is past its prime time, just face it...

[Will224000]

@elantra11 ...to the Emerging Countries the US is the 'old person' that has to die off so that the Dream of the human race can go on...

[batfly]

Amazing...

The ones who own the economic system based on fractional reserve baking... are the ones who have contrived this latest depression...

Those are the private cabal of banks fronted by such terms as... The Federal Reserve and the IMF.

They control the creation of money... it matters not who makes the laws... The problem is this private group of a few men... They have all the power and exercise it through the strings of money.

[FinancialLeverage]

@batfly

the fact that you actually believe kotlikoff, the real batfly, is what is truly amazing.

[tyronebiggums3]

at 5:15 she mentions standing in line for bread.

.

THIS IS ALREADY HAPPENING. Bread lines of the 21st century is called FOOD STAMPS.

.

$5B per MONTH is going towards food stamps. It reaches new records every month.

[tyronebiggums3]

@tyronebiggums3

If you'd like to see the plots on food stamps, do a search on

'paper economy blog'. Scroll down and find the post, "On The Stamp: Food Stamp Participation June 2010 ".

.

Cheers!

[Rathanatosis]

ppl need to head back to hourly wages,screw this 200k a year,and forget that bullshit american dream of cars and houses,thats over now,start living like japan in little cubes,lol

[igorvasilevsky]

Debt nation is bankrupt. We are all shocked.

[Cinemaguy2007]

she is fine! and yes we're bankrupt 

[solspice]

20 years post NAFTA that's what happened to the American middle class

The titanic, called the central banking warfare model needs to be allowed to crumble and a new sustainable economy built to replace it, a boat that helps all humans

The war profiteering and jail builders does not sustain the whole economy

We need an economy that works for the majority not the minority

Let's put all the politicians and war mongers into the jails they built

[mispistoleros]

i studied briefly at boston u. and remember having my eyes opened to the reality of corporate-sponsored scholarship. if your work doesn't please the donors, you're let go, like norman finkelstein or Ivor van Heerden.

homeland security vs. social security...hmmm...i'll vote for the latter

[lipoicacid]

Put billions into technologies to synthesize gold and silver.That would solve the problem...but the goal is [not] to solve the problem.

[revolutionnot]

We need simple solutions... How about getting rid of the Federal Reserve and to return what the Constitution says money should be (value, not fiat debt-money)?

[PeterSodhi]

Another world class interview by Portnaya.

[xchainlinkx]

love how people still think they can save the economy by "cutting spending" or some other nonsense. the entire monetary system is collapsing, and nothing will stop it. Anything will just prolong it's inevitable collapse. Even if the market comes out of this depression, eventually all jobs will be replaced by machinery and no one will be able to support this system. Let it collapse.

[playgrrrr]

the guys attacks on social security and a state that takes care of its people is ridiculous, especialls as us american welfare isnt anywhere near that of other states. also, social security doesnt COST anything, it acutally has a surplus.

[harr77]

Cut the defense budget stop building nukes, submarines, and aircraft carriers just to name a few things. They're spending billions on conventional war weapons for an age of unconventional warfare. Pull all the combat troops out let the contractors work for Iraq not the U.S.

[citizenlizard]

I'd go to Chile instead of Canada...Canada's economy is to dependent on the American economy.

[yaplonglong]

@citizenlizard - You are right. CA is bankrupted, RIGHT? Ontario is ten times worse than CA in terms of debts and unfunded liabilities.

[Takako127]

Stop thinking of were or which people to tax, and start thinking of cutting spending and cutting taxes. Wasteful spending, unconstitutional wars, absurd public sector wages just has to stop! Oh and enf the fed before they sell out America...if they havent already

[rickbar123]

Lets send some more good jobs overseas. Then maybe some tax cuts for the rich. I think some more deregulation should help as well. If all that does not work, we can invade a few countrys. 

[francais197]

The process of Globalization cannot be stopped and will result in a massive contraction in the size of Americas middle classes, fight back Americans need to be re-skilled and a higher premium placed on Education for the next 20 yrs , otherwise we will become the new serfs....

[futbolfever90]

Start cutting spending to avoid bankruptcy; a bit late on that one.

[seancuk23]

I'm in the UK and I have been looking for work for nearly nine months now, things are definitely worse than what our Government is saying.

[HerrSpieldose]

The Weimar States of Amerika...

[starlight1946]

Those old people had to pay into Social Security for many years so why should they be cheated? Why not tax Wall Street who would only end up rewarding themselves? Go after the ultra rich and leave us poor middle class alone. How much does the President and his Cabinet make a year and even after they are done with their Term? Go after these ultra rich billionaires.

[notpcone]

Totally believe that Unemployment is MUCH higher based on what I am seeing and who I am talking to. Wouldn't be surprised if it was more like 16-17 %

[gerrilea1]

Don't agree, let the Bush tax cuts expire and then raise them on those wealthiest Americans and corporations that pay less than I do, it's time they stood up and did the right thing, let them show us their loyalty and citizenship.

And then there has to be more spending, 70%+ of our infrastructure is falling apart, rebuild it. His solutions are exactly what was done under Hoover, cutting spending during the depression.

[werebear1]

I can agree with some of it. He certainly is correct about the poor state of our (USA's) Economy.

[doverlin]

I started working at 14 years old while still in high school. I have paid into the Social Security fund for 39 years and have never drawn a dime from it. I will be eligible to draw from Social Security in 9 more years, but I will be too late. Our government spent every dime I contributed and stuck an I.O.U. in its place. They will not honor our contract. They used the money to buy votes with give-aways to their constituents and tax breaks & tax credits to their benefactors. Basically I got F$%@

[ShadeRage2007]

Truth is that the government robbed the American people. We have paid into social security all our lives and the government has spent it all by becoming so big that it's unsustainable.

[gringodeltoro1]

Build your own house, make your own clothes, grow your own food. FUCK EVERYTHING ELSE !

[XeonProductions]

@gringodeltoro1 uhhh. you still need to buy the building materials, pay for the plot of land, buy the seeds, pay the property taxes... and so much more crap to pay for. Your plan isn't very concrete.

[FreedomCanada2010]

@XeonProductions i can go out in the woods with an axe and shovel and a hand full of seeds and i can build a house plant a garden and as for clothing .. that shit is cheap cheap cheap .. pay taxes? fuck that

[notpcone]

@FreedomCanada2010 Yep, Yep, Yep ! Fuck em !

[gringodeltoro1]

@FreedomCanada2010 Don't cut wood, grow hemp, you can make hempcrete (like concrete), it's better, cheaper, and easier to use. Grow hemp for food too (hemp pasta, cookies, cake...). Hemp is gold man, we need to bring it back !

[Starbat88]

@gringodeltoro1  Yeah! And you can smoke it too!

[666BLKdmn]

@XeonProductions U could live in some cage and hunt whith cavemade bow =))) no any taxes no need to shave 

[gringodeltoro1]

@XeonProductions Hemp is the solution. Hemp grows everywhere. It's sustainable and practically free (no need pesticide). You can use it to make building material (find out), use the fibre to make your clothes (better than cotton), use the seed to make oil, food, ethanol. You can live on hemp, and live well. The only thing missing is electricity. And water supply. But I guess arrengements could be made.

[vukvuk5]

@gringodeltoro1 Thats impossible in Canada, I would have to consult to government as to where to buy land and raw materials for the house. I would have to consult the gouvernment to get a permit to grow live stock and wheats. SO in the end the gouvernment would still charge me tax money, and then I would just be a poor man! Bad Idea man!

[MooseheadDrinker]

@vukvuk5 rubbish

[gringodeltoro1]

@vukvuk5 Then move out of Canada, this country heading towards a major recession anyway... not much to loose !

[jak1428]

nonsense.

[doverlin]

The US government is well aware of the economic collapse coming. The elites and current "powers that be" have prepared for this. It is called Homeland Security and it is not to protect America from dangers abroad; it is to protect the oligarchs and our corrupt government from dissent within.

[crypter27]

The baby boomers will probably be euthinized,because thats what our goverment does this guy is right about reducing the size of goverment but I think its up to families in order. To take care of our old,in order to do that we need to strengthen our family bonds & he didn't say any thing about how our country is being luted by off shore banks. Austeriity means the people pay & not the bankers who deserve to pay!

[Larkinchance]

While I agree with the fact that the US is bankrupt, the speaker lays the blame at Social Security and Medicare. If the Congress had kept the hands off of the contributions in stead of applying it to the general fund, we would have a social security and health care. All that money has gone to Full Spectrum Dominance for the US's military's control of the whole damn world..

[karlsantos]

@Larkinchance

The guys that "went to the cookie jar" are the ones that want to make sure they don't have to put the money back. Is that a shock in any way?

They keep saying the Social Security only has "I owe U" inside but they forget it was them that signed and that it was illegal for them to do it.

They are creating a type of slavery without ownership and they blame the people who worked in companies they destroyed for being unemployed.

[EMPIREofPUPPETS]

The thought that America could collapse literally overnight, is terrifying.

[666BLKdmn]

@xXDamonDXx DO U WANT ALL YOUTUBE TO FUCK U? MAY BE U VGOT THE WRONG SITE =))))

[Metalmaxm]

Bye bye ;)

[SkitchinRox]

usa cant just keep making free money