2 of my favorite media personalities together, greast video! Stossel and Schiff ftw.
I dont really see how from a common sense viewpoint people can really learn about the subject of economics (like 90% of ivy league econ graduates these days) and still believe in central economic planning,
I'm in the same industry, he's so right. I got hired just recently, I cant start until fall of 2012 because my employer and I both have to deal with all this red tape
regulation are job killers Keynesians never understand companies will not expand when they reach peak profit. Sell are poor because entrepreneurship is poor. entrepreneurs buy stuff increase production. entrepreneurs expand production and make things cheaper. regulation adds resistance to economy so inequity which is pressure has to be high to keep things going. when competition is increase, production and equality increases.
This "we were not regulated enough" and more regulation bullshit is just propaganda for ignorant people to talk like they know something at the water cooler.
I'm torn, I believe that a free market will produce wealth for the most people. The problem I see is that brokerage houses like Schiff's are often engaged in fraud so I'm not convinced deregulation is the answer. I think that until a sound monetary policy is put in place again deregulation wont have much of an effect.
@ElizaGilkysonFan The whole financial/monetary system is a fraud, rigged, a ponzi scheme so naturally all brokerages & financial firms should be suspect.
I didn't say Schiff was a fraud, I said that many similar small firms LIKE Schiff's are frauds. If we got rid of the fraudulent accounting, got sound money, got rid of the special interests etc I think we could wipe the books clean of regulation, but until the rigged system is dismantled I'm not convinced this is the answer
@rooftopeagle It is his brokerage house; therefore, if it is a fraud then Mr. Schiff is a fraud. Do you have any specific example of how Mr. Schiff or anyone in his brokerage company is committing fraud?
@rooftopeagle There'll still be brokerage firms if there's a demand for them and people want to invest in the stock market. There's nothing wrong with PRIVATE investors using THEIR money to invest in the stock market. It's when the government uses public money taken from YOUR income to pay for their bad mistakes. Thats' corruption, it's a huge problem, and it's what we're dealing with right now.
@rooftopeagle There are a lot of thing that should be done in order to have a system that is not corrupt as the one that we have now. Just because we can´t get all that is needed to have a sound financial system that shouldnt stop us from taking just one layer of crap from the layer cake.
"The reason that sales are poor is because Americans are broke from paying all the taxes ah uh eh ah, in the past[...]" Now THAT is the human intellect at its highest.
As someone who is studying financial services, Josh scares me with his ignorance. He doesn't connect the poor sales being related to taxes and government regulations.
He is trying to isolate an factor and makes no connections, despite the fact economics is all about connecting the dots.
Wow Josh Bivens, wow. Let's put up an opinion poll! Everything is always justified by these obscure national statistics. Typical Keynesian wackjobbery. Under a free market, with sound money, Austrian economists can understand economic conditions very easily.... here goes.... prices and interest. That's it. Prices determine the health of production, supply, demand, labor, innovation, et cetera. Interest is an indicator of the capital market, which determines the future of production.
@erentheca He sounds like Paul Krugman in a way doesn't he? Using vague terms and trying to relate them with each other, and giving broad meanings and words to describe the economy lol. "spending is low, things are okay, good responses, but still nowhere as big as the scale of the problem, uhm. the way debt hurts is when there are idle resources and the government competing and crowding out with the private sector and driving up the interest rate"
Agreed, Peter could have and should have destroyed him there. I also can't get over how Josh Bivens was citing how exports went up, yet didn't mention exactly what exports were going up or how it was measured or what effect inflation had on their numbers.
I think this Video says all that ever need be said, whenever you have someone speaking for free markets and less government it's always someone who has worked hard, run a successful business and has had to deal with the burden of government spending, taxing and regulation.. whenever there is an opposing viewpoint, it's someone who teaches macro economics and has never in their life participated on a real business of any form.
He runs a financials firm? He's not a job creator, he's a money manipulator. He creates money out of nothing and then bitches about paperwork. Eff him.
@bradulio How does a private financial firm create money out of nothing? Regulation = Paper work? He's talking about the how regulations run up costs for mid-small businesses in general. Gov't don't create jobs, the people do. And employing 150 people means he's not a job creator? He help with people's investment and that's a service everyone need. It's not just him, its Apple, its Home Depot, everyone are saying the same thing. Ignorant, please research Austrian Economics.
@bradulio Btw, Peter Schiff predicted the housing collapse and financial crisis years before the happened, go search on youtube. While he was warning people about these issues, people were laughing at him. Guess what, none of them are laughing after 2008!
i would guess very few congressmen and women would have read Dodd-Franks before voting on it.if a journalist asked a congressmen whether they had read the bill then they wouldn't be allowed to interview another politician ever again.so they don't ask that question.
6:10 why does the liberal guy have such a high toned voice like that? They almost always have these kind of voices and mannerisms. It's not like Schiff or Stossel are overly macho or anything, they're just normal seeming guys, but the liberal men are always these whiny types.
I was one of those regulators. I spent almost 5 years with the NASD. Schiff is absolutely right. The contracts requiring the firms to have set numbers of employees is called a "restriction agreement". EVERY FIRM entering is routinely required to execute one almost without ANY exception (it might say you can have no more than 35 registered EE). You would think someone of proven ability, with a spotless record could expect to have no such agreement, but that is not true.
I remember one phrase in "Atlas Shrugged" which is well-represented by Josh Bivins - (paraphrase) "People who produce are being regulated by those who produce nothing."
I've created a facebook page in an attempt to reach protestors using information and videos like these to spread the truth. See what you think and like if you like and repost.
Facebook Search: "OCCUPY Selectively With Reason and Evidence"
The counter argument to Schiff, is that poor sales is too blame. So the question is:Why aren't ppl buying? Answer 1: The ppl arent employeed. Why arent they employed? Places aren't hiring. Why not? It costs too much to employee people bc of tax and regulations. Answer 2: The increased costs of production(new taxes and regulations) are being passed onto the consumer through increased prices. Think: why is production cheap in 3rd world countries? Answer:ZERO regulations. TOO MUCH HERE = BAD
I have a couple buddies who own small businesses, since Obama took office, I guess they may have created jobs, to replace the ones they destroyed.... They need an accountant just to figure out all the new BS. Nice job Obummer. They both had to lay off 1 person to pay for the accountant that they didn't need before, and now they have to spend more time at work.
The fact that Peter Schiff lost his congressional bid should mark the end of America. The guy who saw the disaster coming is ridiculed by the morons who caused the disaster and denied it was coming.
Maybe I'm just watching too much Fox, but I'm depressed now.
That is funny how an employee can just quit out of the blue and leave a business undermanned, but if he gets fired for poor efficiency he can sue the company if he feels that's not true.
@8chxBLhJDy9 Of course the empricial versus axiomatic argument again Austrian economics has also been destroyed, do some googling, you'll see how neo-classical is axiomatic and Austrian is empirical too.
It is easy to say that regulations do not interfere with the ability to conduct business when one does not have to comply with said regulations. We are in a world economy; therefore, competing with countries which take NO regard to personal protections of individuals. While basic protections are needed, burdening the producer with overwhelming rules make them less competitive or unable to compete at all.
this video proves how people can be swayed by the emotion of the politicians, who say "i will create 3 million jobs" (bullshit), while ignoring the facts.
@mattrosssso: GOOD POINT - People are swayed by several factors - a media news sourcing that is biased and economically illiterate which operates more like a State-run propaganda agency than a news source plus an public education system turning out kids who the only thing they know about raising income is to beg for it by fundraising and community outreach programs. We have become "soft" scientifically and economically illiterate beings.
We have no free speech in the investment industry...the SEC is no exempt from the Freedom of Information Act...hello? Does anyone care? NONE of these regulations prevented a Bernie Madoff...not one.
09:35 "It may well hurt some individual businesses. I'm in this about what's best for the American economy." There is no such thing as "an economy." There are only individual citizens and individual businesses. He's saying that some businesses should sacrifice to others and that he (or government) is to determine who should be sacrificed.
In case you havent noticed American economists are bred to believe Keynseian economics like it is a mathmatical law of nature. The books are 100% Keynesian. Everything this guy Biven said was straight Econ. 101. The problem here is our educational system. The Statists have takin over and they run it like the own it. They brainwash children. They don't care what happens. To them America is a social experiment and they are egeneering to be either a Utopia or just one more state in a World Gov
@superlucci Yes, because that means that you were being overpaid. When markets are left alone (by government), the true value for products services and labor is more likely to be found. If you are really worth 50k per year, it is likely you'll find another company willing to pay it.
@superlucci It doesn't happen like that because A. You are not hired out of the blue, other people compete for that job more often then not.
B. There is a lag time for when people who are new at jobs, from the point of when they are hired to the time they start making money due to their training and experence. That is an investment by the person who hires, and it is calculated when the decision to keep you on is made.
Also can you not say to your boss okay I will take 44k vs his 45?
@EasyEs Correct me if Im wrong. But my mindset is telling me that every single week a new person could easily take your job if its just as easy as that for an employer to fire you.
Now if my employer gives me the opportunity to work for a lower pay or else I'll get fired, that is good in my opinion, at least I get a choice.
But for some reason I feel that no matter what job you go to, you could get fired in a week, simply because a new worker has come in.
@superlucci You are wrong. No one person has a monopoly on giving jobs. If a company hires and fires like that no one would go to work for them. Word gets around fast.
Also you miss that jobs are not easy in this day and age, it takes time to learn work processes, software, how to work best with individuals in that company. The idea that people making the decision to hire or fire someone based only on the seen cost of a salary is incorrect and any business that does that will not last.
@EasyEs I agree that nobody has a monopoly, unless its through government intervention.
I am not an employer, so I have no idea what the costs are, so I was just curious to see if we would really have people firing left and right every week because somebody new showed up
@superlucci Thank you for your honest post. It isn't an issue, I suspect in the age of HR firms the internet etc that any employer that tried would have very sever labor issues.
@EasyEs Precisely. I'm sure you know how much time, effort, and money goes into training new people every time a company hires new individuals. Is a company really going to hire and fire that much and that fast? They would never get anything done because everyone would be constantly being trained, only to be fired! No company would make it with hiring policies like that.
A lot of people come up with paranoid fantasies about robber barons, but they shrivel under scrutiny. Overactive Imaginations.
@superlucci If a boss is looking for somebody to replace you, or just fires you on the principle of getting rid of you, they have a reason. It may not be a good reason (to you), it may be that they just don't like you, but so what? Employees quit for this reason all the time.
How would workers like it do you think if bureaucrats said 'you can't quit your job without an acceptable reason' (aka their permission)? Schiff's point is simply that what's good for the goose is good for the gander.
I'm not in this for particular businesses but for American economy. (paraphrasing what Bivens said) Translation: I'm willing to sacrifice a few for the many.
I am surprised Schiff didn't pick up on it, but...as the chart showed, regulation and taxes had been the number one complaint of buisinesses, government didn't do anything about it; and now we have poor sales as a result. It seems pretty logical to me. If there is water moving and you start putting things in it to redirect it, never remove those things and then keep on doing it; the water is going to slow way down at some point. It's a basic law of nature.
I'm seeing more and more small businesses hire people for cash. The businesses save money and avoid bullshit regulations, and the workers gain employment and avoid paying taxes--so everyone is happy except the government. How's that for an "unintended consequence"?
The government reaped what sewed on pushing for home ownership. And the banks didn't have to twist any arms to get bailed out for that very reason. When the government and banks get into bed you can be sure of one thing the people are getting royally screwed. Hence words like cronyism, socialism anything but true capitalism.
To counter that pin head, Josh Bivens, I wish Stossel or Schiff would have put it in these words: "Inventing, not consumer spending, drives the economy." This Keynesian fallacy of consumer spending driving the economy is somehow just accepted. BTW... George W. Bush also accepted this Keynesian fallacy so don't say GWB was a conservative.
Consumer spending driving the economy is like feeding a horse through its backside. GDP is a product of GDI, not vice versa.
someone should tell Mr Josh Bivens that of course the BIG companies are making record profits because there are not enough SMALL businesses to provide adequate competition in the market and keep prices (and profits) lower.
Regulatory barriers prevent newer and, SMALLER businesses from starting. If numerous small businesses entered the market, it would increase competition and lower the price / profit.
You can improve sales by lowering you price. Which is something you can do if you get lower costs. How poor do you have to be at economics to not see something so readily apparent?
I had a small sub contracting biz for 2 yrs. The labor I needed could be done by semi-skilled workers. I found it easier and affordable to go thru a temp company. Did it cost me to do it? yes. But b/c i was just starting, my jobs came in spurts while I worked part-tme , so it made no sense to purchase insurance, set up employee witholding accts, etc. The temp company took care of that and the other taxes. sucks tho for young people trying to learn a new skill and get decent wages . .
Schiff or Bivens are both blinded to the Occupy movements & their universal goal of obtaining economic justice. They're blinded to the shift toward reform & revolution, to bring about an end to the monetary-"free" market economic system that fuels both governments & corporatists who perpetrate systemic injustices toward their own people & the world by violating their civil, economic & human rights. Here, both parties fail to see their platforms being junked by the people. The NWO is the enemy!
@BrotherWoody1 Economic justice is when someone gets to keep what they earn in the market. All rights are property rights. The State is the enemy, not the voluntary actions of individuals that we refer to as free market.
@BrotherWoody1 Amazing how 200 economically ignorant socialists in a park can get the same press from the liberal media as 2 million Tea Party. But the 200 socialists are the 99%, right?
The government created the legal fiction of corporations, created the fiat money banking system they use, created the moral hazards that resulted in the excesses, and yet these socialists now want the government to take even more power, to have even more control. Good plan.
Wrong plan. Statism & free corporatism are 2 sides of the same coin and are equally poisonous for democracy. Their is no government by the people under either. Please move beyond the GOP & the Dems. One or the other wants to control you with their respective tyrannies. Stay involved in politics but shun these two parties as more Americans are junking their platforms with their empty promises of hope and/or change. Look for solutions that you can participate in on the local level & OCCUPY! Do it.
@BrotherWoody1 What on earth makes you think I support either the GOP or the Dems? What makes you think that I support corporatism if I happen to oppose the state? I would have thought that what I wrote was at least clear about not supporting corporatism. It is not me who is stuck in the Republican/Democrat mindset if you automatically assume that I must be, if I happen to disagree with you.
Corporatism is a creation of the state. They are in league together.
@BrotherWoody1 Ending the "free market"(which we don't have) will only end up in more governmental control and instead of the CEOs competing with each other and potential future competition they will be absorbed into the government as the new managers of whatever industry they were previously in. Don't you understand that there is no communism without a tyrannical government? You can't get economic equality without oppressing the productive people. A free market is VOLUNTARY EXCHANGE its GOOD.
You're correct. As you said, we don't have a "free" market where justice reigns. Do you part to create one. I believe that a good candidate to support is Ron Paul. OCCUPY!
Of course profits go up when you destroy businesses. It's an AVERAGE. The less productive businesses die first, which increases profitability on average. Still, the economy would be better off if the less productive businesses wouldn't be destroyed by regulation. Why do these morons always use phony pseudo-statistics. Who is going to be fooled by that?
@8chxBLhJDy9 I think Walter block said it best when he said in a mises lecture that Austrian economics is like maths. You don't try to prove mathematical theorems in the real world because, well, it's maths.
@glennd7962 I agree. This Bivens character is obviously Keynesian, an economic philosophy that is dominate in the minds of Washington. I say that lack of sales is not a cause, but a result of our bad economy. And I agree that production helps create wealth since product is a commodity that has value in itself. To a Keynesian, demand is what drives the economy, but what intrinsic value does demand have? And what good does demand do if there is a lack of production to fill it?
What do you expect, he is a professional economist? He is looking at the numbers and gets linear conclusions, doesn't understand the basics for a valid interpretation of numbers.
I'm a small business owner, just started actually. I can confirm that hiring someone is to be avoided. There are so many mandates, guarentees, and taxes that come with hiring it's insane. Not to mention the giant liability you face with disgruntled employees. Its complex, but i'd rather spend money on capital and improving efficiency than employees.
@groam6666 I'm with you. I've owned my small business for five years and do ANYTHING possible to not hire someone. It's not the money to pay the employee, but rather the burden of regulations and taxes.
I threw in the towel a couple of years back. I am on strike. I was sick and tired of spending half my time working for the government, complying with bullshit rather than being productive. When it got to the point where I was making nothing for all my effort, I laid off the handful of people I used to employ and retired. In a different climate, I would still be in business and growing. But I am not going to spend my life working as a slave for a country full of parasites.
@groam6666 Bingo, and with virtual assistants available to outsource for a few hundred dollars a month; why would I want to hire someone in the US so I can pay tens of thousands. Before the crazies sound off; these assistants are living like kings in their countries since the cost of living is low and poverty is everywhere. When the average income is $250/month, $400/month is HUGE...and then we pay them an extra month bonus.
People don't consider why it costs so much to call a plumber/electrician or send their car to the shop. You may pay $40+ for labor but the employer/employee don't see much of that. Payroll and mandated insurance costs kill. The worst part is you can't shop around for providers, they are state run (in NY anyway's)
I could buy 2 million dollars of business insurance for under $400 a year but my workers comp for 3 employees was $900 a month... with a $2,300 down payment
@deadman12078 I agree, and taxes on employment only kill hiring. Why politicians can't figure that out is beyond me. They say, "well it's good for the workers to have all these benefits," yet no one represents the people who aren't hired because of these policies. They also don't factor in the cost of doing business.
Also, can you believe what Josh on the videos is saying. I mean, people like this have never ran a business, yet are the type of people who are in charge of regulating business!
Spending does not increase wealth; productivity increases wealth.
pookatim 4 days ago
2 of my favorite media personalities together, greast video! Stossel and Schiff ftw.
I dont really see how from a common sense viewpoint people can really learn about the subject of economics (like 90% of ivy league econ graduates these days) and still believe in central economic planning,
darkmahou28 2 weeks ago
thanks josh... your an idiot.
PRINCECOUNTYBEATS 3 weeks ago
sup stossel does your face still hurts from shultz slappin the shit out of you?
firemoth1000 3 weeks ago
Capitalism: the only jobs program that works. The problem with the economy is socialism, only ending socialism will solve the problem.
halloranedward 4 weeks ago
We have a problem when Regulation and Taxes are higher on the list of problems than actual competition from competitors
mites7 1 month ago
I'm in the same industry, he's so right. I got hired just recently, I cant start until fall of 2012 because my employer and I both have to deal with all this red tape
mites7 1 month ago
@mites7 By then, your employer might need even need you and have found someone else...
1XMarksSpot 2 days ago
regulation are job killers Keynesians never understand companies will not expand when they reach peak profit. Sell are poor because entrepreneurship is poor. entrepreneurs buy stuff increase production. entrepreneurs expand production and make things cheaper. regulation adds resistance to economy so inequity which is pressure has to be high to keep things going. when competition is increase, production and equality increases.
spark300c 1 month ago
Rename this video "The Asian job Creators"
louiethegreater 1 month ago
I love Stossel's sarcasm
stebecool 1 month ago
Government regulations killed Jobs? How did that happen? Was it the regulation that made him sick and die?
zxcv73 1 month ago
People like that fucking retarded dweeb are the reason America is being destroyed right now.
"I'm not in it for what's best for a particular business, but what's best for the American economy..."
My mind just can't compute the level of hypocrisy in that sentence...
Spjungen 1 month ago
This "we were not regulated enough" and more regulation bullshit is just propaganda for ignorant people to talk like they know something at the water cooler.
RascalKyng 1 month ago
@RascalKyng Regulation is killing business, manufacturing, and Joe the plumber at the moment. People need to understand that.
Spjungen 1 month ago
This has been flagged as spam show
wweek.com/portland/article-17350-9_things_the_rich_dont_want_you_to_know_about_taxes.html
MMZen 1 month ago
Looks like bill maher
NeuroStomp 2 months ago
I'm torn, I believe that a free market will produce wealth for the most people. The problem I see is that brokerage houses like Schiff's are often engaged in fraud so I'm not convinced deregulation is the answer. I think that until a sound monetary policy is put in place again deregulation wont have much of an effect.
I could be wrong.
rooftopeagle 2 months ago
@rooftopeagle Careful, you have just libeled Peter Schiff. Do you have any specific examples of the fraud you allege?
ElizaGilkysonFan 2 months ago
@ElizaGilkysonFan The whole financial/monetary system is a fraud, rigged, a ponzi scheme so naturally all brokerages & financial firms should be suspect.
I didn't say Schiff was a fraud, I said that many similar small firms LIKE Schiff's are frauds. If we got rid of the fraudulent accounting, got sound money, got rid of the special interests etc I think we could wipe the books clean of regulation, but until the rigged system is dismantled I'm not convinced this is the answer
rooftopeagle 2 months ago
@rooftopeagle It is his brokerage house; therefore, if it is a fraud then Mr. Schiff is a fraud. Do you have any specific example of how Mr. Schiff or anyone in his brokerage company is committing fraud?
ElizaGilkysonFan 2 months ago
@rooftopeagle There'll still be brokerage firms if there's a demand for them and people want to invest in the stock market. There's nothing wrong with PRIVATE investors using THEIR money to invest in the stock market. It's when the government uses public money taken from YOUR income to pay for their bad mistakes. Thats' corruption, it's a huge problem, and it's what we're dealing with right now.
Spjungen 1 month ago
@rooftopeagle There are a lot of thing that should be done in order to have a system that is not corrupt as the one that we have now. Just because we can´t get all that is needed to have a sound financial system that shouldnt stop us from taking just one layer of crap from the layer cake.
megatherium100 1 month ago
"The reason that sales are poor is because Americans are broke from paying all the taxes ah uh eh ah, in the past[...]" Now THAT is the human intellect at its highest.
Maziusklein 2 months ago
to Josh Bivens.
Correlation != Causality
jeffiek 2 months ago
This has been flagged as spam show
As someone who is studying financial services, Josh scares me with his ignorance. He doesn't connect the poor sales being related to taxes and government regulations.
He is trying to isolate an factor and makes no connections, despite the fact economics is all about connecting the dots.
gamingeh 3 months ago
Comment removed
gamingeh 3 months ago
Wow Josh Bivens, wow. Let's put up an opinion poll! Everything is always justified by these obscure national statistics. Typical Keynesian wackjobbery. Under a free market, with sound money, Austrian economists can understand economic conditions very easily.... here goes.... prices and interest. That's it. Prices determine the health of production, supply, demand, labor, innovation, et cetera. Interest is an indicator of the capital market, which determines the future of production.
erentheca 3 months ago
@erentheca He sounds like Paul Krugman in a way doesn't he? Using vague terms and trying to relate them with each other, and giving broad meanings and words to describe the economy lol. "spending is low, things are okay, good responses, but still nowhere as big as the scale of the problem, uhm. the way debt hurts is when there are idle resources and the government competing and crowding out with the private sector and driving up the interest rate"
Peter should have just destroyed him there.
USTreasuryBond 3 months ago
Agreed, Peter could have and should have destroyed him there. I also can't get over how Josh Bivens was citing how exports went up, yet didn't mention exactly what exports were going up or how it was measured or what effect inflation had on their numbers.
erentheca 2 months ago
This has been flagged as spam show
Ron Paul - Tea Party Moneybomb - December 16, 2011
Pledge your support here:
teaparty11[dot]com
alpertforpaul 3 months ago
A lot of bad Government today is a self-serving, circular logic, bureaucratic cancer
FunctionalRepublic 3 months ago 2
amazing... this material should be taught in High School.
RustyIronloins 3 months ago
I think this Video says all that ever need be said, whenever you have someone speaking for free markets and less government it's always someone who has worked hard, run a successful business and has had to deal with the burden of government spending, taxing and regulation.. whenever there is an opposing viewpoint, it's someone who teaches macro economics and has never in their life participated on a real business of any form.
jkessler410 3 months ago 3
Man. i really despise mainstream economists.
Esoparagon 3 months ago
He runs a financials firm? He's not a job creator, he's a money manipulator. He creates money out of nothing and then bitches about paperwork. Eff him.
bradulio 3 months ago
@bradulio How does a private financial firm create money out of nothing? Regulation = Paper work? He's talking about the how regulations run up costs for mid-small businesses in general. Gov't don't create jobs, the people do. And employing 150 people means he's not a job creator? He help with people's investment and that's a service everyone need. It's not just him, its Apple, its Home Depot, everyone are saying the same thing. Ignorant, please research Austrian Economics.
sga86 3 months ago
@bradulio Btw, Peter Schiff predicted the housing collapse and financial crisis years before the happened, go search on youtube. While he was warning people about these issues, people were laughing at him. Guess what, none of them are laughing after 2008!
sga86 3 months ago
Damn Peter, a little too heavy on the make-up man :D
stabbed22 3 months ago
i would guess very few congressmen and women would have read Dodd-Franks before voting on it.if a journalist asked a congressmen whether they had read the bill then they wouldn't be allowed to interview another politician ever again.so they don't ask that question.
nphanlon1973 3 months ago
6:10 why does the liberal guy have such a high toned voice like that? They almost always have these kind of voices and mannerisms. It's not like Schiff or Stossel are overly macho or anything, they're just normal seeming guys, but the liberal men are always these whiny types.
dubified89 4 months ago
Classroom data guy gets PWNED by Schiff. Show this to every teenager you can. Let's end this people.
dskillz1 4 months ago 3
I was one of those regulators. I spent almost 5 years with the NASD. Schiff is absolutely right. The contracts requiring the firms to have set numbers of employees is called a "restriction agreement". EVERY FIRM entering is routinely required to execute one almost without ANY exception (it might say you can have no more than 35 registered EE). You would think someone of proven ability, with a spotless record could expect to have no such agreement, but that is not true.
crtune 4 months ago
LibertyPen I love the music you use to introduce your videos. The funky tune for Stossel is perfect.
sellsjeeps 4 months ago
I remember one phrase in "Atlas Shrugged" which is well-represented by Josh Bivins - (paraphrase) "People who produce are being regulated by those who produce nothing."
vegasrenie 4 months ago
I've created a facebook page in an attempt to reach protestors using information and videos like these to spread the truth. See what you think and like if you like and repost.
Facebook Search: "OCCUPY Selectively With Reason and Evidence"
capgains 4 months ago
Thanks for the upload Liberty Pen. Always makes my days brighter.
AlexNOSAM 4 months ago
Thank you Liberty Pen for all the work, and effort you put in. It does not go unnoticed. - DMZ Weymouth MA.
HotMustard420 4 months ago 32
The counter argument to Schiff, is that poor sales is too blame. So the question is:Why aren't ppl buying? Answer 1: The ppl arent employeed. Why arent they employed? Places aren't hiring. Why not? It costs too much to employee people bc of tax and regulations. Answer 2: The increased costs of production(new taxes and regulations) are being passed onto the consumer through increased prices. Think: why is production cheap in 3rd world countries? Answer:ZERO regulations. TOO MUCH HERE = BAD
ffrank345 4 months ago
I have a couple buddies who own small businesses, since Obama took office, I guess they may have created jobs, to replace the ones they destroyed.... They need an accountant just to figure out all the new BS. Nice job Obummer. They both had to lay off 1 person to pay for the accountant that they didn't need before, and now they have to spend more time at work.
opacid 4 months ago
The fact that Peter Schiff lost his congressional bid should mark the end of America. The guy who saw the disaster coming is ridiculed by the morons who caused the disaster and denied it was coming.
Maybe I'm just watching too much Fox, but I'm depressed now.
darwinkilledgod 4 months ago 3
When people say they have a right to a meaningful job I like to counter that employers have a right to obedient employees.
darwinkilledgod 4 months ago
Who are the two fuckwhits who disliked this?
RightishRight 4 months ago 14
@RightishRight Regulators
megatherium100 1 month ago
@RightishRight Schittreport, billburns2, and a couple of their friends who they probably paid to dislike this ^^
Spjungen 1 month ago
@RightishRight Two of them must be Obama and Bernanke.
1XMarksSpot 2 days ago
That is funny how an employee can just quit out of the blue and leave a business undermanned, but if he gets fired for poor efficiency he can sue the company if he feels that's not true.
raptors11111 4 months ago
@8chxBLhJDy9 Of course the empricial versus axiomatic argument again Austrian economics has also been destroyed, do some googling, you'll see how neo-classical is axiomatic and Austrian is empirical too.
glennd7962 4 months ago
It is easy to say that regulations do not interfere with the ability to conduct business when one does not have to comply with said regulations. We are in a world economy; therefore, competing with countries which take NO regard to personal protections of individuals. While basic protections are needed, burdening the producer with overwhelming rules make them less competitive or unable to compete at all.
mcsabes 4 months ago
little faggot weasal talking....jesus christ who is going to take this 12 year old seriously?
justgetsome 4 months ago
this should be called the "duh debate"
this video proves how people can be swayed by the emotion of the politicians, who say "i will create 3 million jobs" (bullshit), while ignoring the facts.
mattrosssso 4 months ago
@mattrosssso: GOOD POINT - People are swayed by several factors - a media news sourcing that is biased and economically illiterate which operates more like a State-run propaganda agency than a news source plus an public education system turning out kids who the only thing they know about raising income is to beg for it by fundraising and community outreach programs. We have become "soft" scientifically and economically illiterate beings.
divisioneight 4 months ago
We have no free speech in the investment industry...the SEC is no exempt from the Freedom of Information Act...hello? Does anyone care? NONE of these regulations prevented a Bernie Madoff...not one.
captaindiesalot 4 months ago
Of course they're helping the BIG firms, the large firms are where the regulators come from...they protect the big guys, fact.
captaindiesalot 4 months ago
if the first obama bailout ($847B) didn't work because it wasn't "big enough", how can the dems justify a bailout of $450B?
cristoballs 4 months ago
09:35 "It may well hurt some individual businesses. I'm in this about what's best for the American economy." There is no such thing as "an economy." There are only individual citizens and individual businesses. He's saying that some businesses should sacrifice to others and that he (or government) is to determine who should be sacrificed.
bma051000 4 months ago
In case you havent noticed American economists are bred to believe Keynseian economics like it is a mathmatical law of nature. The books are 100% Keynesian. Everything this guy Biven said was straight Econ. 101. The problem here is our educational system. The Statists have takin over and they run it like the own it. They brainwash children. They don't care what happens. To them America is a social experiment and they are egeneering to be either a Utopia or just one more state in a World Gov
KingDingaLing090 4 months ago
SCHIFF IS DA MAN! STOSSEL TOO!
flyinbry 4 months ago
Not sure I liked it when Schiff said businessmen should be able to fire anybody at any time for w/e reason.
SO your telling me if I get hired for 50k a year, then 1 week later they find a guy for my position for 45k a year, I automatically lose my job?
: (
superlucci 4 months ago
@superlucci Yes, because that means that you were being overpaid. When markets are left alone (by government), the true value for products services and labor is more likely to be found. If you are really worth 50k per year, it is likely you'll find another company willing to pay it.
bradwatson7324 4 months ago
@bradwatson7324 Without a notice or anything of that sort? Just flat up come up to you 1 day and say your fired, because I got somebody else.
Hell, that could happen at any given job, on any given day, at any given time.
How many switching of jobs must a person d?
superlucci 4 months ago
@superlucci It doesn't happen like that because A. You are not hired out of the blue, other people compete for that job more often then not.
B. There is a lag time for when people who are new at jobs, from the point of when they are hired to the time they start making money due to their training and experence. That is an investment by the person who hires, and it is calculated when the decision to keep you on is made.
Also can you not say to your boss okay I will take 44k vs his 45?
EasyEs 4 months ago
@EasyEs Correct me if Im wrong. But my mindset is telling me that every single week a new person could easily take your job if its just as easy as that for an employer to fire you.
Now if my employer gives me the opportunity to work for a lower pay or else I'll get fired, that is good in my opinion, at least I get a choice.
But for some reason I feel that no matter what job you go to, you could get fired in a week, simply because a new worker has come in.
Am I exaggerating this thought?
superlucci 4 months ago
@superlucci You are wrong. No one person has a monopoly on giving jobs. If a company hires and fires like that no one would go to work for them. Word gets around fast.
Also you miss that jobs are not easy in this day and age, it takes time to learn work processes, software, how to work best with individuals in that company. The idea that people making the decision to hire or fire someone based only on the seen cost of a salary is incorrect and any business that does that will not last.
EasyEs 4 months ago
@EasyEs I agree that nobody has a monopoly, unless its through government intervention.
I am not an employer, so I have no idea what the costs are, so I was just curious to see if we would really have people firing left and right every week because somebody new showed up
superlucci 4 months ago
@superlucci Thank you for your honest post. It isn't an issue, I suspect in the age of HR firms the internet etc that any employer that tried would have very sever labor issues.
EasyEs 4 months ago
@EasyEs Precisely. I'm sure you know how much time, effort, and money goes into training new people every time a company hires new individuals. Is a company really going to hire and fire that much and that fast? They would never get anything done because everyone would be constantly being trained, only to be fired! No company would make it with hiring policies like that.
A lot of people come up with paranoid fantasies about robber barons, but they shrivel under scrutiny. Overactive Imaginations.
eatthatmeatball 4 months ago
@superlucci If a boss is looking for somebody to replace you, or just fires you on the principle of getting rid of you, they have a reason. It may not be a good reason (to you), it may be that they just don't like you, but so what? Employees quit for this reason all the time.
How would workers like it do you think if bureaucrats said 'you can't quit your job without an acceptable reason' (aka their permission)? Schiff's point is simply that what's good for the goose is good for the gander.
UtubeMyAccountName 4 months ago
This is an awesome channel. Thank you @LibertyPen
MaurDL 4 months ago
What complete moron looks at the previous stimulus, and the continuing 9% unemployment rate, and then turns around and says, LET'S TRY THAT AGAIN ?
DraughtOfPeace 4 months ago
This has been flagged as spam show
@DraughtOfPeace The definition of Insanity is doing the same thing over and over again and expecting different results.
EltonJThe 4 months ago
The markets are like the environment. Don't touch it, and everything is going to be fine.
idricool 4 months ago
this seems to be a rerun
desirefirst 4 months ago
@desirefirst
this stimulus and the jobs bill are re-runs.
DraughtOfPeace 4 months ago
I'm not in this for particular businesses but for American economy. (paraphrasing what Bivens said) Translation: I'm willing to sacrifice a few for the many.
bnpixie1990 4 months ago
I am surprised Schiff didn't pick up on it, but...as the chart showed, regulation and taxes had been the number one complaint of buisinesses, government didn't do anything about it; and now we have poor sales as a result. It seems pretty logical to me. If there is water moving and you start putting things in it to redirect it, never remove those things and then keep on doing it; the water is going to slow way down at some point. It's a basic law of nature.
melodicdreamer72 4 months ago
Biven puts douche to the bag
ConcernedPrepper 4 months ago
The pro's say it will work
derberg19486 4 months ago
I'm seeing more and more small businesses hire people for cash. The businesses save money and avoid bullshit regulations, and the workers gain employment and avoid paying taxes--so everyone is happy except the government. How's that for an "unintended consequence"?
modernfreestyle 4 months ago
The government reaped what sewed on pushing for home ownership. And the banks didn't have to twist any arms to get bailed out for that very reason. When the government and banks get into bed you can be sure of one thing the people are getting royally screwed. Hence words like cronyism, socialism anything but true capitalism.
LokiScoutSniper 4 months ago 2
To counter that pin head, Josh Bivens, I wish Stossel or Schiff would have put it in these words: "Inventing, not consumer spending, drives the economy." This Keynesian fallacy of consumer spending driving the economy is somehow just accepted. BTW... George W. Bush also accepted this Keynesian fallacy so don't say GWB was a conservative.
Consumer spending driving the economy is like feeding a horse through its backside. GDP is a product of GDI, not vice versa.
watch?v=D9kfMx8Llcc
MrConservative608 4 months ago
someone should tell Mr Josh Bivens that of course the BIG companies are making record profits because there are not enough SMALL businesses to provide adequate competition in the market and keep prices (and profits) lower.
Regulatory barriers prevent newer and, SMALLER businesses from starting. If numerous small businesses entered the market, it would increase competition and lower the price / profit.
penguinistas 4 months ago
Josh Bivens is a mindless obamabot.
penguinistas 4 months ago
Economics and policy aside, Bivens has no respect for humanity.
timlebsack 4 months ago
You can improve sales by lowering you price. Which is something you can do if you get lower costs. How poor do you have to be at economics to not see something so readily apparent?
Visfen 4 months ago
I love LibertyPen. Excellent channel.
Federalism24 4 months ago
9:45 I guess 115 financial regulatory agencies and 12,000 financial regulators in DC alone isn't enough eh?
siftyfour 4 months ago
"I'm not in this for one individual business, I am in it for the economy at whole." -Josh Bivens
"Who is the public? What does it hold as its good?"
""Are we to understand," asked the judge, "that you hold your own interests above the interests of the public?"
"I hold that such a question can never arise except in a society of cannibals." -Trial of Hank Rearden, Atlas Shrugged, Pg. 478, Author Ayn Rand
XF540 4 months ago 2
I had a small sub contracting biz for 2 yrs. The labor I needed could be done by semi-skilled workers. I found it easier and affordable to go thru a temp company. Did it cost me to do it? yes. But b/c i was just starting, my jobs came in spurts while I worked part-tme , so it made no sense to purchase insurance, set up employee witholding accts, etc. The temp company took care of that and the other taxes. sucks tho for young people trying to learn a new skill and get decent wages . .
val5214 4 months ago 3
Schiff or Bivens are both blinded to the Occupy movements & their universal goal of obtaining economic justice. They're blinded to the shift toward reform & revolution, to bring about an end to the monetary-"free" market economic system that fuels both governments & corporatists who perpetrate systemic injustices toward their own people & the world by violating their civil, economic & human rights. Here, both parties fail to see their platforms being junked by the people. The NWO is the enemy!
BrotherWoody1 4 months ago
@BrotherWoody1 you said a whole lot about nothing.
Mezey5 4 months ago
@Mezey5 And you didn't say enough about anything.
BrotherWoody1 4 months ago
@BrotherWoody1 Economic justice is when someone gets to keep what they earn in the market. All rights are property rights. The State is the enemy, not the voluntary actions of individuals that we refer to as free market.
rumco 4 months ago
@BrotherWoody1 Amazing how 200 economically ignorant socialists in a park can get the same press from the liberal media as 2 million Tea Party. But the 200 socialists are the 99%, right?
The government created the legal fiction of corporations, created the fiat money banking system they use, created the moral hazards that resulted in the excesses, and yet these socialists now want the government to take even more power, to have even more control. Good plan.
Panpiper 4 months ago 17
@Panpiper LOL,, you are spot on!!
bjarnet3 4 months ago
Wrong plan. Statism & free corporatism are 2 sides of the same coin and are equally poisonous for democracy. Their is no government by the people under either. Please move beyond the GOP & the Dems. One or the other wants to control you with their respective tyrannies. Stay involved in politics but shun these two parties as more Americans are junking their platforms with their empty promises of hope and/or change. Look for solutions that you can participate in on the local level & OCCUPY! Do it.
BrotherWoody1 4 months ago
@BrotherWoody1 What on earth makes you think I support either the GOP or the Dems? What makes you think that I support corporatism if I happen to oppose the state? I would have thought that what I wrote was at least clear about not supporting corporatism. It is not me who is stuck in the Republican/Democrat mindset if you automatically assume that I must be, if I happen to disagree with you.
Corporatism is a creation of the state. They are in league together.
Panpiper 4 months ago
@Panpiper Sorry, if I misunderstood you. I think you & I are on the same page. Reform for both. Revolt against both is my position.
BrotherWoody1 4 months ago
@Panpiper lol you can't expect ppl like the 99% to see reason and logic...theirs is an emotional protest. Life isnt fair:) Good points.
55Freya 4 months ago
@BrotherWoody1 Ending the "free market"(which we don't have) will only end up in more governmental control and instead of the CEOs competing with each other and potential future competition they will be absorbed into the government as the new managers of whatever industry they were previously in. Don't you understand that there is no communism without a tyrannical government? You can't get economic equality without oppressing the productive people. A free market is VOLUNTARY EXCHANGE its GOOD.
Hashishin13 4 months ago
@Hashishin13
You're correct. As you said, we don't have a "free" market where justice reigns. Do you part to create one. I believe that a good candidate to support is Ron Paul. OCCUPY!
BrotherWoody1 4 months ago
Classic case of an "Intellectual" claiming to know more than someone who actually works in the field.
seraphim256 4 months ago 3
Of course profits go up when you destroy businesses. It's an AVERAGE. The less productive businesses die first, which increases profitability on average. Still, the economy would be better off if the less productive businesses wouldn't be destroyed by regulation. Why do these morons always use phony pseudo-statistics. Who is going to be fooled by that?
scepticsteve 4 months ago
@8chxBLhJDy9 I think Walter block said it best when he said in a mises lecture that Austrian economics is like maths. You don't try to prove mathematical theorems in the real world because, well, it's maths.
gshooting 4 months ago
@8chxBLhJDy9 What's with their obsession with using data instead of using logic.
gshooting 4 months ago
Listen to the arrogance of this moron Bivens, he doesn't even understand the fundamental nature of production and how it produces wealth.
glennd7962 4 months ago 45
@glennd7962 I agree. This Bivens character is obviously Keynesian, an economic philosophy that is dominate in the minds of Washington. I say that lack of sales is not a cause, but a result of our bad economy. And I agree that production helps create wealth since product is a commodity that has value in itself. To a Keynesian, demand is what drives the economy, but what intrinsic value does demand have? And what good does demand do if there is a lack of production to fill it?
eskimospy77 4 months ago
@glennd7962 He's a lefty! what do you expect
VegasBilgeRat 4 months ago
@glennd7962
What do you expect, he is a professional economist? He is looking at the numbers and gets linear conclusions, doesn't understand the basics for a valid interpretation of numbers.
enedene1 4 months ago
Even if you trust Obama's word, you are still spending $233 000 per job. Why is he bragging about that?
obtree 4 months ago
I'm a small business owner, just started actually. I can confirm that hiring someone is to be avoided. There are so many mandates, guarentees, and taxes that come with hiring it's insane. Not to mention the giant liability you face with disgruntled employees. Its complex, but i'd rather spend money on capital and improving efficiency than employees.
groam6666 4 months ago 79
@groam6666 I'm with you. I've owned my small business for five years and do ANYTHING possible to not hire someone. It's not the money to pay the employee, but rather the burden of regulations and taxes.
Loyal2Liberty 4 months ago 2
@groam6666 Yet, you're a leftist.
sweatyshorts 4 months ago
@groam6666 Machines don't sue.
Mezey5 4 months ago
I threw in the towel a couple of years back. I am on strike. I was sick and tired of spending half my time working for the government, complying with bullshit rather than being productive. When it got to the point where I was making nothing for all my effort, I laid off the handful of people I used to employ and retired. In a different climate, I would still be in business and growing. But I am not going to spend my life working as a slave for a country full of parasites.
Panpiper 4 months ago
@groam6666 it is almost cheaper to automate the process than it costs to hire an employee.
bluefootedpig 4 months ago
@groam6666 Bingo, and with virtual assistants available to outsource for a few hundred dollars a month; why would I want to hire someone in the US so I can pay tens of thousands. Before the crazies sound off; these assistants are living like kings in their countries since the cost of living is low and poverty is everywhere. When the average income is $250/month, $400/month is HUGE...and then we pay them an extra month bonus.
mcsabes 4 months ago
@groam6666 I hear ya.
People don't consider why it costs so much to call a plumber/electrician or send their car to the shop. You may pay $40+ for labor but the employer/employee don't see much of that. Payroll and mandated insurance costs kill. The worst part is you can't shop around for providers, they are state run (in NY anyway's)
I could buy 2 million dollars of business insurance for under $400 a year but my workers comp for 3 employees was $900 a month... with a $2,300 down payment
deadman12078 4 months ago
@deadman12078 I agree, and taxes on employment only kill hiring. Why politicians can't figure that out is beyond me. They say, "well it's good for the workers to have all these benefits," yet no one represents the people who aren't hired because of these policies. They also don't factor in the cost of doing business.
Also, can you believe what Josh on the videos is saying. I mean, people like this have never ran a business, yet are the type of people who are in charge of regulating business!
groam6666 4 months ago