Ultimately it helped the economy at the time since I spent it. If the economy in part is us spending money on American products and services, like my local Dentist or even a computer or my using that money to invest in a small business I don't see that as wasting money or bad tax policy. Most people would essentially spend it locally or in some indirect way that benefits the US economy.
Personally, I made capital gains (3000 invested, made 4750 in 6 months) so that is almost a 50 percent increase in my investment. I did so through stock sharing and the fact in many top positions in a company you can invest in a fund the company then guarantees a certain return and matches too). My income for that year was not more than 60k thus I would be one of those who would benefit from a 200k and below no capital gains tax. What did I do with that money.
I see your point about why you feel unions and minimum wage help nations like china and third world nations. I get that but honestly it is the deep capitalist who are to blame for doing business AND shipping jobs overseas. They could simply bar all chinese goods from our nation and the West in general. But they don't, so instead of a Cold War like we had with Russia perhaps dropping those protections Americans have can allow America to compete with those other large nations like India/China.
All this talk of China owning debt. Go look it up, UK and Japan own more. That is stupid since The US makes huge manufacturing deals with the US. China does not want to destroy the US. They make it, we buy it. China has a vested interest in our existence.
@Foreshadow44 Japan and UK together own more than China. However, China owns more those individually. China or those countries pay no tax on their interest. That is why I support the Romney plan of the 1st $200,000 of capital gains as tax free. To allow all citizens an equal playing field. I think it is time we end minimum wage and ban unions to allow all companies worldwide to compete. These laws allow other countries to move from 3rd world to 1st world which seems good.
@pirucreek just a heads up. he doesnt want to ban unions. he just doesnt want the govt to support them. if i am not mistaking, a union strike is between labor and management, govt doesnt get involved and support either side, though I may be mistaking
Get rid of the FEDERAL RESERVE. If you check history, you will see that the FED is the author of all economic crisis in the U.S. since they have taken the reigns. The ONLY SOLUTION is to get rid of the slimey thieves.
@jjcinbozo lol...Are you doing a little tongue in cheek routine? If so, "bravo good sir". That's some funny shit.
If not, "obama did cut the deficit. check your facts." is the dumbest GD thing I have read online in weeks. And, dumb people are posting dumb shit all the time. Hmmm...actually the fact that you posted the dumbest thing I have read in weeks is actually pretty impressive. Nice job.
@TheAbbott88 FY2009 deficit a Bush signed budget was $1,885,101,000 to $11,909,829,000. Obamas FY2010 deficit was $1,651,794,000 to $13,561,632,000. Source treasurydirect To me that is deficit reduction. Some idiots need to go back to school rather than listen to Rush. The national debt is presently $14,684,293,000. If the national debt does not get to $15,213,000,000 I think it will be further deficit reduction. Time to pull your head out of your ass.
@pirucreek Okay first of all genuis, Obama has not signed a single budget since he has been in office and I am pretty sure that we did not have a budget in 09' either. Though, I am sure that is Bush's or Rush's fault. You kool-aid drinking ass. I wouldn't know because I only marginally like them more than I do the current president. Second of all, how the hell are you going to trust any numbers that you have to quote? The treasury & the CBO have both had to go back an revise all of the GDP..
@pirucreek and debt numbers going back until 2008. So, if you think you have the right number you are doing better than the jackoffs that spent the money. Stop sucking the president dick and get a little oxygen to your brain before it is too late.
@jjcinbozo - Obama did not inherit anything. He is a publicly elected official who was aware of the deficit before he took an oath to serve as our president. One of the responsibilities of his office is to make decisions for the betterment of our country in domestic and foreign affairs.
And he has in fact added more debt to the national deficit than the 3 previous presidents combined. Away with the argument he inherited anything. The power of veto is a powerful thing when used.
@XDMX13 It is not the amount of debt, it is the percentage of debt. Reagan/bushi quadrupled the debt. When Obama came in the debt was already written to over 10 trillion, he still has a way to go to double it.
Since I made this video I have lost all respect for Obama. He voted twice as senator to stop the debt ceiling increase. Yet as president he promoted it. He talks about cuts on a 10 year plan but spending on a 1 year plan. The debt ceiling debate just ended but now he wants to spend
@pirucreek - You are not addressing my response to the previous poster. The bottom line is Obama has the power to veto these ridiculous spending plans. He is just another politician being controlled by special interests. In this case....banks. I am a realist and understand that Obama does not have the power I so vehemently state he should exercise. At the end of the day he is not in control. Globalists are.
@pirucreek - Additionally, Obama as an attorney for ACORN pushed homes for everyone and admitted on CNN this would lead to substantial defaults. To quote BusinessWeek from a 2008 article: "It’s clear now that the erosion of lending standards pushed prices up by increasing demand, and later led to waves of defaults by people who never should have bought a home in the first place." Guess who this was regarding? The Clinton administration and their push for home ownership increase.
@jjcinbozo - Obama did not inherit anything. He is a publicly elected official who was aware of the deficit before he took an oath to serve as our president. One of the responsibilities of his office is to make decisions for the betterment of our country in domestic and foreign affairs.
And he has in fact added more debt to the national deficit than the 3 previous presidents combined. Away with the argument he inherited anything. The power of veto is a powerful thing when used.
Frightening still there are people that support and defend this CFR Puppet and cannot see his fundamental change of the government from a Republic to a Dictatorship. Dumbed down and ignorant people refuse to come out from the mind control and do their own research because either it is too hard or they have too much invested in the bubble they have created around themselves. Sad, they have made themselves a target for the stronger criminally minded left to seize power with their support.
@jjcinbozo Obama could have cut more, the could have stopped spending at the debt ceiling, and he could have balanced the budget. Instead he and his party want to spend more and almost vote unanimous on any type of spending be it PBS or NPR. When inflation hits 20%, I think the spending will stop. Only until we balance budgets will the economy improve.
lol @ saying government spending is relatively low compared to money supply. So the Federal Reserve printed a shit ton of money so now government spending is a smaller portion of the money :(x+y)/x > x/x. Of course it will be relatively low. It's like if you have 2 people, they both make up 100% of the group together, but, add, say, 200 people and now they are 2/200 or 1% of the group. Totally bogus thing to say. Plus, the Quantitative Easing Explained guy is right.
A little tip....if you're going to make a movie that makes you sound smart....dont use the phrase they are going to HIGHER taxes....what a dipshit lol You can't spell, but you can explain economics? haha riiighhhtt
OK, Bush gave obama $1.3 T but even the white house budget put the deficit at $1.6 T the next year, then $1.1T, then ONLY $786 Billion.
Clinton did a good job not running a deficit. To say that money should devalue every year is very juvenile and not understanding of what expanding a money supply without the corresponding increase in value does to the poorest of the poor. Money is just an accepted medium for the exchange of human labor, end the Fed but start private money instead
The whole point of this video is to show, the false villan is Bernanke. The real villain is every member of congress who voted to increase the debt ceiling. The money supply starts in congress, Bernanke just provides liquidity to keep interest rates in a window.
@pirucreek You would be 100% correct had you written your comment 2 weeks earlier...the money supply now starts with the "Super Congress"...the Council of 12...And the villians that voted to raise the debt ceiling are guilty of driving another nail in the coffin of my grandchildren...however like most things you hear from the Presstitute Talking Heads, that was mearly a smoke screen to the real crime!!! This bullshit changes the Constitution illegally! All who voted yes are guilty of TREASON!!!!
@pirucreek Yeah..."he's just the guy that keeps loaning money at an ungodly low rate" Do you understand that the Fed is a private entity and they don't have to follow the monetary laws we have set up to watchdog the financial industry?
So anyways, you missed that we DON'T KNOW what Bernanke is doing behind close doors with OUR money. To say that ANY money printing is ok(at this point)is to not understand who has the money now(people) and who the fed lends to(the banks), more trickle down?
"A cartoon generally supporting Ben Bernanke quantitative easing." among other issues of that statement are that it is both a fragment and inaccurate, the cartoon is more like but kissing for Ben Bernanke and quantitative easing.
@mordecai460 Communism is not a government system, it's an economic system. You can't compare the two because it would be like comparing apples to cars.
Unfortunately, the propaganda campaign to convince people around the world that Capitalism is good for them has worked so well, that we've produced two generations of people who've embraced the Profit Motive as an ideology. Cultural growth is a good thing. Technological growth is a good thing. Growth in understanding is a good thing. Enslaving ourselves to the economy is retarded.
Buczor you are an idiot.! The national debt when Carter left office was under 1 trillion and we were the largest creditor nation I'm the world. Subsequently, Reagan, bush and bush ran it up to over 12 trillion. While Clinton balanced the budget and started to pay down debt while increasing the GDP more than any Republican president since Eisenhower, who taxed 3 million and over at more than 90 percent. Why don't you EDUCATE YOURSELF? You obviously gave a computer just google History of the nati
THIS DOESNT EVEN MAKE TOTAL SENSE! WHO PAID OFF THE FUCKING LAWYERS AND SOCIOPATHS TO PUT OUT SOME BULLSHIT PROPAGANDA TO POISON THE INTELLECT OF THE WEAK WHO WATCH. This is either damage control or someone dick riding the asinine system thats already in place. fuck you dude
The main problem with this video, and why it is not better than the video it is "responding to", is the fact that the author's political leanings are clearly indicated in the text. A political slant in a cartoon is simply pol propaganda for the upcoming election, not intelligent satire. e.g. blaming Reagan for the deficit, and then in the same breath, pumping up Obama as a deficit ...reducer? yeah...hate to sound like an obnoxious 14-year-old but....fail.
@jdoernte To be fair, Reagan and both Bushes did spend a lot, e.g., military spending on wars, money spent on the prison system, when it hasn't been proven that 'tough on crime' is an effective strategy. And other things.
The Federal Reserve is evil and create money out of thin air. The whole global finance will be brought down by their dependency on the failing U.S. Dollar. Plans are being worked on to consolidate nations currencies. Eventually we will get down to one currency and 5% of the world will be rich (the banking elite) and the rest of us unlucky bastards will be slaves only without the shackles and chains...
@D0nkeyPunch86 All banks create money out of thin air -- it's how a fractional reserve banking system works. When you put $100 into your bank, the bank creates -- out of thin air -- $80 and loans it out. The person to whom the bank loaned now has $80 dollars of your deposit, but you still have access to your entire $100 deposit. $80 dollars has just been created. Inflation is therefore built into the system because the money supply constantly expands.
@brendanwm814 fractional reserve banking system can not be sustained when there is no confidence. Our whole Fiat economy is used by the rest of the world as the US dollar backs everyonelses currency. When we go down, they go down. Like I said the Federal Reserve creates money out of thin air literally, there is no value behind the money they print or generate. It's all shit and if the world makes a run on the dollar we are fucked. All we can do is point our guns back at them.
@D0nkeyPunch86 So you want to move to a full reserve system? You'd like it when you deposit cash into your bank account and can't use it for a fixed amount of time? Most people couldn't afford that; they wouldn't use banks. They'd stash cash in their home. The money supply would shrink, lending would dry up, and we'd be in a perpetual economic depression. Wealth would accumulate more rapidly into the hands of a tiny minority and growth would be scare for the bottom 99 percent of income earners.
@brendanwm814 Your answers are flawed. If you deposit into a full reserve bank, you could withdrawal immediately. Real money going into a real bank results in real deposits that can be used immediately. Money supply shrinking does not cause depressions, it is the fraudulent present banking system and the federal reserve. You want you lawn mowed, it does not matter what the rich person has if the lawnmower wants $20 and you earned $100 you can have your lawn mowed 5 times before you have to
@pirucreek You can't withdrawal immediately from a full reserve bank. Well, hypothetically you could, but why would someone open a bank like that? If they have to keep all your money on reserve, they can't lend any out. If they can't lend any out, they have no incentive to be in the business of demand deposits. So they only have CDs and other non-demand accounts to rely on for money to loan. Then there's much less money to loan, wealth is produced at a much slower rate. And riskier loans
@brendanwm814 How does a stock broker remain in business? A stock broker is similar to a full reserve bank. You pick where your investments go and take all the risks. Allow banks to make those decisions is a moral hazard! They will blow it on loans to their friends and you can go back inn time and see this fraud repeated over and over. google lincoln savings and loan crisis for one.
to start ups and small business men are less common because supply of credit can't meet demand. The small supply of credit goes to only the most qualified individuals -- the wealthy -- so their wealth continues to accumulate, while everyone else can't create wealth because they can't get the loan to do it.
@brendanwm814 This is the logic why I think all debt should be ended. Debt is money. The way you earn money is by working, not via credit. If you want to do something that costs a lot of money save or find investors. Everyone else can't create wealth because they don't save and expect a free loan from the government. Start-ups and small businesses are not my problem, they are your problem. To create businesses, you must save not depend or steal wealth of others.
@BrulesRules001 The deficit was already massive when he stepped into office. If you believe the treasury direct numbers the deficit did drop. Not much but a little bit. You should look at the chart in my deficit video.
@pirucreek The treasury direct numbers do a shell game to hide the numbers. The deficit did not drop when you include the stimulus and other government policies - it tripled instead. Accepting the government's numbers at face value is naive and intellectually void. The government lies all the time to make things seem like the government's intervention is helping and not hurting....
@mtanousable thats so true unfortunately. However a little common sense can give you this. Naturally Obama(and every other president ever to take office) doesn't want the people to know he is doing things that they will not like, such as raising the deficit. So naturally the administration plays games with the numbers. If you want the real numbers go to a impartial 3rd party site and look at the deficit numbers.
@BrulesRules001 Yep! That was a dumb comment. When I heard it, I thought I was in the Twilight Zone. The credibility of whoever made this video went "poof" with that dumb remark.
This vid is rife with inaccurate statements. While nominal rates were very high in the 50's (to repay the debt of WWII), there were many more loopholes so effective rates were much lower than that. As for keeping interest rates low being a good thing, that only makes sense if you are living on debt. As for voodoo economics, it's been PROVED by the Laffer curve, Laffer won a Nobel Prize for it.
Okay, you had me until you claimed Obama was cutting the debt. Obamas budget raises taxes which business will eliminate jobs to cut overhead which will eliminate tax revenue. Obama care...let's be honest...is a nice thought but America CAN'T afford it. Forget all the other radical right reasons. It is a radical left fantasy Obama isn't skyrocketing the debt!
The Federal Reserve is a private banking cartel that the politicians have permitted so as to provide them with virtually unlimited amounts of money to spend even without having to raise taxes. The private banks in this cartel also donate money to politicians for their re-election. They can also manipulate the money supply via various means causing inflation, deflation, booms, recessions, depressions, widespread foreclosures & re-concentration of wealth back into the hands of bankers.
@pirucreek Oh sure, because, if someone disagree's with your reasoning, OBVIOUSLY they're just "right wingers." So much easier to attach a label to them and dismiss them outright. Couldn't possible be because they possess a valid point of view that doesn't fit your own. Yup, just right wingers, I'm right and you're wrong gets us so far in this world. Thanks for continuing that fine tradition so common in today's Academia.
@pirucreek Clueless, both parties are at fault. DoddFrank with its wonderful bill that forced banks to lend to degenerates. Overwhelming government spending by both parties.
How did QE2 do at stabilizing the housing market and aiding unemployment like its stated goal?
@pirucreek No we tend not to listen to facts that hide the real truth. The only thing I heard in this video that wasn't a misleading fact or a made up opinion is that old man bush and regan didnt agree on economics. The rest is bogus
That is why there eventually be a civil war, because you comment and many other comments from liberals say it does not matter what we think? But you want to steal our money. You are a big a** p**ssy. I wish you had the b@lls to do something, but all you do is talk, just like the rest of you wussies!
Obviously made by someone who gets their facts from Wikipedia. Half of the time, it wasn't clear which side of the issue the video is on. The other half of the time, it was wrong.
end the fed. sheesh people - it really is not all that complicated. simple economics. If you keep printing money without a corresponding increase in goods and services that is called counterfeiting.
@Sharpeguy, You are talking about two different types of deflation. The type we have today has nothing to do with "reflecting the fact that they do, in fact, become easier to produce." We are deflating from an asset bubble caused by the Fed, where everyone (not just subprime borrowers) borrowed much more than than could afford. That spending created asset values that cannot be sustained by our real economy.
QE2 ends this June with it the US Treasury is being taken off Federal Reserve life support having to sell a record 180 billion monthly of new issues on the open market not to the Fed. What do you think is going to happen when no one steps up to the plate at these ridiculously low rates 0.02% to 0.53%? Rates will rise it’s just when and buy how much. To join our group talking about the best ways to trade rates higher call US+949-376-8020 or for one report see web address keypage,net link 19.
In all this game, the devil is the victim, is the scapegoat, will be acused of everything cause the GOD don’t want any rivals*. Conclusion: live at the full in the freedom of GOD (praying in a right form,following the INSTRUCTIONS in the Bible - keeping the 10 commandments - including keeping the Saturday as the 7th day etc.) instead of in the incapacity and limited power of devil cause he is just a temporary puppet.
@sharperguy if you have a long-term mortgage, the amount you agreed to pay worth more than the time you took on that mortgage in terms of real money. So its actually more expensive to get by.
@KeffieKampo Whether you like to believe it or not Bernanke is a patsy. Congress elected him. Congress creates the debt, the president signs off on it. The feds only role is to buy the debt and get to collect 6% of all the interest from the debt they buy for free. The fed has to quantitative ease or the chairman will be fired by congress.
@wire2000 Deficit spending. When you 10x the national debt, the gas prices will 10x. Congress/President is much more responsible for inflation than the fed.
@JoachimGutz Inflation is a monetary policy. Bush and Reagan quadrupled the money supply and Bush II doubled it. $0.50 x 8 = $4.00. See my latest video why inflation will be 10% a year at the end of the year and remain there for 3 years.
In terms of gold or silver, gas is cheaper now than it was in 1965. In 1965, gas was 25 cents per gallon and silver was $1/oz. In other words, 1oz bought 4 gallons of gas. Today, 1 oz of silver buys roughly 22 gallons of gas.
Gas is not getting more expensive, your dollars are losing value at a frightening pace.
Wow... This is pretty clueless junk. You print money to avoid higher interest rates? CLUELESS.... Your village is calling they want their idiot back.....
If you are serious about the debt you have to look at Social Security and other entitlements. FixSSNow.Org. Be part of the solution.
@joetheeconomist Social security is the only program in the black and will always be in the black by design it is called the payroll tax. Printing money will result in higher interest rates. The government overspends, the fed buys the debt. The federal government created the inflation, mainly Bush and Reagan, as result interest rates rise. It is common sense and so obvious. When inflation hits at the end of the year, interest rates will rise as they are already, despite all the fed buying
@pirucreek Your words, If Ben doesn't buy the bonds, interest rates will rise. He is doing it with printed money which you say will lead to higher rates.
I don't know where you live, but inflation is already here. Oil is up 30% in the past year. Gas at my pump is up more. Food is up. Healthcare is up. 21% of small business is planning to rise prices. All of this while we have 9% unemployment.
@pirucreek your words were that the Fed was buying bonds to lower rates with printed money. That is a short-term event which leads in your words to higher interest rates.
You are letting your political bias cloud your judgment. Reagan raised taxes. He didn't cut them. His 1981 tax reform was never even fully implemented. It was replaced by the 1986 tax reform act which was revenue neutral. While it lowered tax rates, it increased taxes on corporations and removed deductions.
@joetheeconomist The top tax rate was 70% when Reagan went in office and left with them around 28% top bracket. Median income tax dropped from 50% to 30%. Top corporate rate dropped from 50% to 39%. This based off images, but the way I see it he cut taxes and increased spending resulting in quadrupling of the national debt after Bush I left office. However the graphs do show stable revenue as a percentage of gdp. The deficts were as result of spending especially defense spding star wars...
@pirucreek , Tax Rates are meaningless absent what happened to deductions. Reagan's 1981 tax package was never fully implemented. The Democrats lead the 1986 reform package not Reagan try and remember that - Bill Bradley sponspored the bill. Here are the taxes that Reagan increased : FICA, Transportation, Income taxes on me (middle class America) went from11 to 15%. He called it a tax cut and liberals who are too stupid to count believed him.
@pirucreek Most every agrees that the "Star Wars" spending that you deride was the cause of the collapse of the Soviet Union. Even the Russians have acknowledge that they spent themselves into failure trying to keep up with something that probably workn't even have worked. I think the defense spending that you should be questioning would be that of Bush Sr and Clinton. What wars were they fighting with 300 billion+.
WRONG. Social Security ran a deficit last year and will again this year. Do a google search for the widely reported headline, "CBO: Social Security to Run $45 Billion Deficit in 2011."
@fubecabr From what I read it will post a $100 billion defici this year due to the $1000 break obama added in. However, all this money is coming out of the SS trust fund. however, when the trust fund runs out, I highly doubt they will let it run red. They will probably come for more payroll taxe, when they should allow you to receive your medicare payment in cash.
There is no trust fund that's just sitting there with trillions of dollars in an account. It's just a ledger of IOUs from the most reckless, spendthrift, and irresponsible government in the history of the world. They're not even marketable securities. They're completely worthless.
There will not be enough working people or money to confiscate to provide everyone with Medicare and Social Security as currently constituted. Together, they're a $100 TRILLION unfunded liability.
@fubecabr According to the SS office there is 2.6 trillion in assets there. However, I think you are saying when they consider the national debt they combine them. Which is true. If you go to the SS site it appears they don't get any interest from their trust fund. Which is really sad because the fed gets to keep 6% from the treasuries they buy out of nothing. They would rather pay China and Japan interest than the retirees. As for the unfunded liability you don't count future revenues.
The assets are IOUs. They are not marketable securities like treasury bonds. If they were, they could sell them to the stupid Chinese or Japanese and raise cash to make payments to beneficiaries. As far as the national debt goes, yes the IOUs are counted in the mix.
The unfunded liabilities represents in excess of what will be received in future payments. That's why they're called "unfunded liabilities." There's no plan in place to cover them, nor could there be.
If you don't believe me, here's Richard W Fisher of the Dallas Federal Reserve with a speech about these issues.
dallasfed d o t org/news/speeches/fisher/2008/fs080528 d o t cfm
Again, there's not enough wealth to confiscate, present or future to cover promises made to seniors. Both Medicare and Social Security are pyramid (Ponzi) schemes. They're both detonating and will continue to do so until eliminated or made mathematically sound.
@fubecabr I will watch the video later. But, what he fails to realize SS will collect 15.3% of everybody working to the seniors. "Promises", i would be more upset with the current trust fund that has been raided to fund overpriced medicare and collects zero interest. We definitely need to end medicare and have that money go into the SS check. This should be the promise, "Revenues from the payroll tax should equal SS and medicare payments."
It's not a video, but an article. You can also do a google or youtube search for "unfunded liabilities."
Yes, it steals 15.3% of everyone's wages. The problem is that benefits exceed that.A BIG part of the problem is inflation. Even if the decades of surpluses weren't raided to subsidize the rest of the government's prodigious spending, the trust fund still wouldn't hold enough money. SS also needs to be means tested. Bill Gates should not get benefits.
@fubecabr Social Security OASDI Trust Fund earned about 108 billion in interest on Treasury obligations. All debt is an IOU. The idea that treasuries are worthless is news to the vast majority of pension fund managers who buy them. They aren't marketable - and don't need to be largely because of the investment policy of the Trust which keeps a large position in short-term Treasuries. There is a solution FixSSNow (Dot) Org.
Yes, all debt is an IOU. But some IOUs are legally assigned/traded and worth more than others. If I own a T-bond, I can sell it to another person at any time. It is a fully-marketable security. The "trust fund" does not hold treasury bonds.
Yes, Treasuries are becoming worthless and that became apparent to the largest bond fund manager in the world, Bill Gross of PIMCO. Not only did he sell, but he is shorting treasuries now as well.
@fubecabr, your concern is more than offset by the investment policy of the Trust. The Trust ladders the debt evenly over 15 years, as a consequence it normally has cashflow from redemptions. Your concern should be with the investment policy rather than whether the debt is marketable. I hope that you see that there is a huge difference between becoming worthless and worthless. That said, I am short Treasuries as well...
You're missing my point. It is an obligation of the US government that is junior to actual treasury bonds. If the debt ceiling isn't raised or the government can't raise enough cash, its first obligation is to wages of govt. employees, then treasury bondholders, then suppliers/contractors, and lastly social security/medicare/VA/welfare recipients. If the government decreased payments to SS, it would not be a default on the debt.
@fubecabr If you are going to means test social security you had also better be prepared to allow those folks to opt out of paying into it. I am no millionaire, but if i were i would have rather vociferous objection to paying for something i am not using. Such is the case with the current redistributionist policies in place and the opposition to higher taxes to continue paying for them.
@jteutulsr I agree no means testing, SS or any other program should never be means tested. The present system already provides medicare benefits that are more or less equal for everyone. Thus those that paid less into medicare and live in New Jersey are really raping the system.
@fubecabr The benefits don't exceed that, they are just adjusted for inflation. Retirees might have earned a little extra from when the 15.3% rate was much lower before 1980. If you earned $4 per hour in 1946, it is a lot less than earning $10 per hour today. SS will always have enough if you consider payouts should come from present payees.
The way that SS benefits are calculated and the way that SS revenues are generated are two completely different things. That's why there's a $13.6 trillion unfunded liability associated with SS.
SS adjusts benefits based on the CPI, which was changed in 1993 to understate inflation. They exclude food and energy and do hedonic adjustments. So if a car goes up $1000 in price, but the govt. says that there's $1500 in added value, then they say the price went down $500.
@pirucreek Sorry Piru. SS is done within 10 years. People who talk about retirees per worker miss the point. It is debt service plus retirees per worker. Every member of the working generation supports $100,000 in public debt. As America allocates more of its tax base to debt service, it leaves less and less for everything else. It is like musical chairs where debt service always wins. America will at some point have to choose between supporting the debt or the retirees who created it.
@pirucreek The Trust Fund is economic parsley. 2.4 trillion sounds like a lot but it is pretty small compared to the outlays. The Fund hasn't been raided. It just isn't very big. Social Security is a pay as you go system. I am not sure why you think that it earns no interest - you should look at the Trustees report for 2010. It earned about 5%, largely from debt acquired many years ago.
What a crock of you know what. To excuse Obama from running up more debt than every president through Reagan combined is ridiculous. His deficit in Feb. alone was more than a whole year's deficit under George W. Bush. And it continues as far as the eye can see. This president had to have capital gains explained to him by Charlie Gibson, and admitted to the New York Times that there is no such thing as a 'shovel-ready ' job. He hasn't got a clue on how to fix the economy.
Wow, did these people write the script for this video down before or after they 'wiped' on the paper? If you viewers would do your homework, you would know what the truth is. 'Follow' at your own risk! Somebody with some common sense might save you 'tards if you are lucky.
Wow, did these people write the script for this video down before or after they 'wiped' on the paper? If you viewers would do your homework, you would know what the truth is. 'Follow' at your own risk! Somebody with some common sense might save you 'tards if you are lucky.
Even SUPPOSING inflation could solve the (debt) problem that Japan and China now owns the lives and futures of Americans and their children, why is it Japan and China own this in the first place, you ignorant fuck?
Anybody remember that film where some guys told the king they have invented an invisible suit, and the king "puts it on" and appears in court naked, and goes on walkabout, and some young boy who hadn't heard the story of the invisible clothes sings "The king is in his all-together, he's altogether as naked as the day he was born...
If only Palin were this smart...
shyguy640 3 months ago 2
This video is full of inaccuracies and obviously created by a poorly educated Obama follower.
MegaAlphaDave 4 months ago
YAWN .
lesanne2 4 months ago
This video fails in what these videos set out to do: be funny.
traindawg 4 months ago
Ultimately it helped the economy at the time since I spent it. If the economy in part is us spending money on American products and services, like my local Dentist or even a computer or my using that money to invest in a small business I don't see that as wasting money or bad tax policy. Most people would essentially spend it locally or in some indirect way that benefits the US economy.
Foreshadow44 5 months ago
Personally, I made capital gains (3000 invested, made 4750 in 6 months) so that is almost a 50 percent increase in my investment. I did so through stock sharing and the fact in many top positions in a company you can invest in a fund the company then guarantees a certain return and matches too). My income for that year was not more than 60k thus I would be one of those who would benefit from a 200k and below no capital gains tax. What did I do with that money.
Foreshadow44 5 months ago
I see your point about why you feel unions and minimum wage help nations like china and third world nations. I get that but honestly it is the deep capitalist who are to blame for doing business AND shipping jobs overseas. They could simply bar all chinese goods from our nation and the West in general. But they don't, so instead of a Cold War like we had with Russia perhaps dropping those protections Americans have can allow America to compete with those other large nations like India/China.
Foreshadow44 5 months ago
All this talk of China owning debt. Go look it up, UK and Japan own more. That is stupid since The US makes huge manufacturing deals with the US. China does not want to destroy the US. They make it, we buy it. China has a vested interest in our existence.
Foreshadow44 5 months ago
@Foreshadow44 Japan and UK together own more than China. However, China owns more those individually. China or those countries pay no tax on their interest. That is why I support the Romney plan of the 1st $200,000 of capital gains as tax free. To allow all citizens an equal playing field. I think it is time we end minimum wage and ban unions to allow all companies worldwide to compete. These laws allow other countries to move from 3rd world to 1st world which seems good.
pirucreek 5 months ago
@pirucreek just a heads up. he doesnt want to ban unions. he just doesnt want the govt to support them. if i am not mistaking, a union strike is between labor and management, govt doesnt get involved and support either side, though I may be mistaking
abf617 3 months ago
@jjcinbozo Black Bush (Obama)..Wake-up soon !....
freedombiteback 5 months ago
Get rid of the FEDERAL RESERVE. If you check history, you will see that the FED is the author of all economic crisis in the U.S. since they have taken the reigns. The ONLY SOLUTION is to get rid of the slimey thieves.
Emmie949 5 months ago
@jjcinbozo lol...Are you doing a little tongue in cheek routine? If so, "bravo good sir". That's some funny shit.
If not, "obama did cut the deficit. check your facts." is the dumbest GD thing I have read online in weeks. And, dumb people are posting dumb shit all the time. Hmmm...actually the fact that you posted the dumbest thing I have read in weeks is actually pretty impressive. Nice job.
TheAbbott88 5 months ago
@TheAbbott88 FY2009 deficit a Bush signed budget was $1,885,101,000 to $11,909,829,000. Obamas FY2010 deficit was $1,651,794,000 to $13,561,632,000. Source treasurydirect To me that is deficit reduction. Some idiots need to go back to school rather than listen to Rush. The national debt is presently $14,684,293,000. If the national debt does not get to $15,213,000,000 I think it will be further deficit reduction. Time to pull your head out of your ass.
pirucreek 5 months ago
@pirucreek Okay first of all genuis, Obama has not signed a single budget since he has been in office and I am pretty sure that we did not have a budget in 09' either. Though, I am sure that is Bush's or Rush's fault. You kool-aid drinking ass. I wouldn't know because I only marginally like them more than I do the current president. Second of all, how the hell are you going to trust any numbers that you have to quote? The treasury & the CBO have both had to go back an revise all of the GDP..
TheAbbott88 5 months ago
@pirucreek and debt numbers going back until 2008. So, if you think you have the right number you are doing better than the jackoffs that spent the money. Stop sucking the president dick and get a little oxygen to your brain before it is too late.
TheAbbott88 5 months ago
@jjcinbozo come on Bush obama SAME SAME. DEMOCRAT REPUBLICAN SAME SAME
VICSWEB1 5 months ago
@jjcinbozo - Obama did not inherit anything. He is a publicly elected official who was aware of the deficit before he took an oath to serve as our president. One of the responsibilities of his office is to make decisions for the betterment of our country in domestic and foreign affairs.
And he has in fact added more debt to the national deficit than the 3 previous presidents combined. Away with the argument he inherited anything. The power of veto is a powerful thing when used.
XDMX13 5 months ago
@XDMX13 It is not the amount of debt, it is the percentage of debt. Reagan/bushi quadrupled the debt. When Obama came in the debt was already written to over 10 trillion, he still has a way to go to double it.
Since I made this video I have lost all respect for Obama. He voted twice as senator to stop the debt ceiling increase. Yet as president he promoted it. He talks about cuts on a 10 year plan but spending on a 1 year plan. The debt ceiling debate just ended but now he wants to spend
pirucreek 5 months ago
@pirucreek - You are not addressing my response to the previous poster. The bottom line is Obama has the power to veto these ridiculous spending plans. He is just another politician being controlled by special interests. In this case....banks. I am a realist and understand that Obama does not have the power I so vehemently state he should exercise. At the end of the day he is not in control. Globalists are.
XDMX13 4 months ago
@pirucreek - Additionally, Obama as an attorney for ACORN pushed homes for everyone and admitted on CNN this would lead to substantial defaults. To quote BusinessWeek from a 2008 article: "It’s clear now that the erosion of lending standards pushed prices up by increasing demand, and later led to waves of defaults by people who never should have bought a home in the first place." Guess who this was regarding? The Clinton administration and their push for home ownership increase.
XDMX13 4 months ago
@jjcinbozo - Obama did not inherit anything. He is a publicly elected official who was aware of the deficit before he took an oath to serve as our president. One of the responsibilities of his office is to make decisions for the betterment of our country in domestic and foreign affairs.
And he has in fact added more debt to the national deficit than the 3 previous presidents combined. Away with the argument he inherited anything. The power of veto is a powerful thing when used.
XDMX13 5 months ago
This bitch got most of it right!
moonshineinsummer1 5 months ago
Another dislike lightsaber.
CrockettVice21 5 months ago
Frightening still there are people that support and defend this CFR Puppet and cannot see his fundamental change of the government from a Republic to a Dictatorship. Dumbed down and ignorant people refuse to come out from the mind control and do their own research because either it is too hard or they have too much invested in the bubble they have created around themselves. Sad, they have made themselves a target for the stronger criminally minded left to seize power with their support.
Freeme2742 5 months ago
@jjcinbozo Obama could have cut more, the could have stopped spending at the debt ceiling, and he could have balanced the budget. Instead he and his party want to spend more and almost vote unanimous on any type of spending be it PBS or NPR. When inflation hits 20%, I think the spending will stop. Only until we balance budgets will the economy improve.
pirucreek 6 months ago
I obviously cant add, because adding 200 people would make it 2/202. But you get the point.
dnaak 6 months ago
lol @ saying government spending is relatively low compared to money supply. So the Federal Reserve printed a shit ton of money so now government spending is a smaller portion of the money :(x+y)/x > x/x. Of course it will be relatively low. It's like if you have 2 people, they both make up 100% of the group together, but, add, say, 200 people and now they are 2/200 or 1% of the group. Totally bogus thing to say. Plus, the Quantitative Easing Explained guy is right.
dnaak 6 months ago
A little tip....if you're going to make a movie that makes you sound smart....dont use the phrase they are going to HIGHER taxes....what a dipshit lol You can't spell, but you can explain economics? haha riiighhhtt
Deciblaster 6 months ago
OK, Bush gave obama $1.3 T but even the white house budget put the deficit at $1.6 T the next year, then $1.1T, then ONLY $786 Billion.
Clinton did a good job not running a deficit. To say that money should devalue every year is very juvenile and not understanding of what expanding a money supply without the corresponding increase in value does to the poorest of the poor. Money is just an accepted medium for the exchange of human labor, end the Fed but start private money instead
imatruthaddict 6 months ago
I didn't know Ben Bernanke had his own YouTube channel
robertplant634 6 months ago
People tend to disagree with things they are unable to comprehend.
cookmatthewr 6 months ago
"They are incapable of thought"??? That's an actual argument?? LOL.
Cypherdude1 6 months ago
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Vote for Ron Paul!
SrgGoofy 6 months ago
Printing more Money is Stupid. Period!
CrazyBrah21 6 months ago
The whole point of this video is to show, the false villan is Bernanke. The real villain is every member of congress who voted to increase the debt ceiling. The money supply starts in congress, Bernanke just provides liquidity to keep interest rates in a window.
pirucreek 6 months ago 4
@pirucreek You would be 100% correct had you written your comment 2 weeks earlier...the money supply now starts with the "Super Congress"...the Council of 12...And the villians that voted to raise the debt ceiling are guilty of driving another nail in the coffin of my grandchildren...however like most things you hear from the Presstitute Talking Heads, that was mearly a smoke screen to the real crime!!! This bullshit changes the Constitution illegally! All who voted yes are guilty of TREASON!!!!
wolco003 6 months ago
@pirucreek Yeah..."he's just the guy that keeps loaning money at an ungodly low rate" Do you understand that the Fed is a private entity and they don't have to follow the monetary laws we have set up to watchdog the financial industry?
So anyways, you missed that we DON'T KNOW what Bernanke is doing behind close doors with OUR money. To say that ANY money printing is ok(at this point)is to not understand who has the money now(people) and who the fed lends to(the banks), more trickle down?
imatruthaddict 6 months ago
"A cartoon generally supporting Ben Bernanke quantitative easing." among other issues of that statement are that it is both a fragment and inaccurate, the cartoon is more like but kissing for Ben Bernanke and quantitative easing.
Andeath12 6 months ago
why does Sarah Palin sound so smart? OH WAIT THAT'S NOT REALLY Palin
nightsoul2003 6 months ago
@nightsoul2003 LOL.
Cypherdude1 6 months ago
dragonscarz, you're an f-ing idiot. The point of the video WAS economics. F-ING TOOL!!
mordecai460 6 months ago
Oh. My. God. This fail is almost on par with the fail of the Fed.
TheFlixoman 6 months ago 2
She sounds more like a Communist than she does a Repooplican.
mordecai460 7 months ago
@mordecai460 Communism is not a government system, it's an economic system. You can't compare the two because it would be like comparing apples to cars.
dragonscarz13 6 months ago
I call BS
HollyTNUSA 7 months ago
You can't fix a fundamentally corrupt system.
Unfortunately, the propaganda campaign to convince people around the world that Capitalism is good for them has worked so well, that we've produced two generations of people who've embraced the Profit Motive as an ideology. Cultural growth is a good thing. Technological growth is a good thing. Growth in understanding is a good thing. Enslaving ourselves to the economy is retarded.
smujismuj 7 months ago
Kill the Fed
smujismuj 7 months ago
Buczor you are an idiot.! The national debt when Carter left office was under 1 trillion and we were the largest creditor nation I'm the world. Subsequently, Reagan, bush and bush ran it up to over 12 trillion. While Clinton balanced the budget and started to pay down debt while increasing the GDP more than any Republican president since Eisenhower, who taxed 3 million and over at more than 90 percent. Why don't you EDUCATE YOURSELF? You obviously gave a computer just google History of the nati
johnfrombrm 7 months ago
Took the US 225 years to wrack up 8 trillion in debt. Obama doubled it in only 3 years. Yaaaaaay, isn't progress great!?!!?
buckZor 7 months ago
Seriously, much wrongness here....how did 145 people like this stuff?
Doom314 7 months ago
Everybody! Flag this video as a scam like I just did! You know you should. Ben Bernanke has Satan's cock very, very far up his ass.
loganray4444 7 months ago
THIS DOESNT EVEN MAKE TOTAL SENSE! WHO PAID OFF THE FUCKING LAWYERS AND SOCIOPATHS TO PUT OUT SOME BULLSHIT PROPAGANDA TO POISON THE INTELLECT OF THE WEAK WHO WATCH. This is either damage control or someone dick riding the asinine system thats already in place. fuck you dude
trentthehunter 7 months ago
Bull Shit!!!
reverenceforall 7 months ago
The main problem with this video, and why it is not better than the video it is "responding to", is the fact that the author's political leanings are clearly indicated in the text. A political slant in a cartoon is simply pol propaganda for the upcoming election, not intelligent satire. e.g. blaming Reagan for the deficit, and then in the same breath, pumping up Obama as a deficit ...reducer? yeah...hate to sound like an obnoxious 14-year-old but....fail.
jdoernte 8 months ago 21
@jdoernte You may not be aware that I consider Obama, Clinton and Robert Reich as complete bozos. Ronald Reagan was a bozo. His son is not a bozo.
pirucreek 8 months ago
@jdoernte To be fair, Reagan and both Bushes did spend a lot, e.g., military spending on wars, money spent on the prison system, when it hasn't been proven that 'tough on crime' is an effective strategy. And other things.
LostInMyBackPack 7 months ago
@jdoernte You put into words exactly what I was thinking when I watched this video. Very well said!
ZoneIII 6 months ago
The Federal Reserve is evil and create money out of thin air. The whole global finance will be brought down by their dependency on the failing U.S. Dollar. Plans are being worked on to consolidate nations currencies. Eventually we will get down to one currency and 5% of the world will be rich (the banking elite) and the rest of us unlucky bastards will be slaves only without the shackles and chains...
WAKE UP!
D0nkeyPunch86 8 months ago
@D0nkeyPunch86 All banks create money out of thin air -- it's how a fractional reserve banking system works. When you put $100 into your bank, the bank creates -- out of thin air -- $80 and loans it out. The person to whom the bank loaned now has $80 dollars of your deposit, but you still have access to your entire $100 deposit. $80 dollars has just been created. Inflation is therefore built into the system because the money supply constantly expands.
brendanwm814 8 months ago
@brendanwm814 fractional reserve banking system can not be sustained when there is no confidence. Our whole Fiat economy is used by the rest of the world as the US dollar backs everyonelses currency. When we go down, they go down. Like I said the Federal Reserve creates money out of thin air literally, there is no value behind the money they print or generate. It's all shit and if the world makes a run on the dollar we are fucked. All we can do is point our guns back at them.
D0nkeyPunch86 8 months ago
@D0nkeyPunch86 So you want to move to a full reserve system? You'd like it when you deposit cash into your bank account and can't use it for a fixed amount of time? Most people couldn't afford that; they wouldn't use banks. They'd stash cash in their home. The money supply would shrink, lending would dry up, and we'd be in a perpetual economic depression. Wealth would accumulate more rapidly into the hands of a tiny minority and growth would be scare for the bottom 99 percent of income earners.
brendanwm814 8 months ago
@brendanwm814 Your answers are flawed. If you deposit into a full reserve bank, you could withdrawal immediately. Real money going into a real bank results in real deposits that can be used immediately. Money supply shrinking does not cause depressions, it is the fraudulent present banking system and the federal reserve. You want you lawn mowed, it does not matter what the rich person has if the lawnmower wants $20 and you earned $100 you can have your lawn mowed 5 times before you have to
pirucreek 8 months ago
@pirucreek You can't withdrawal immediately from a full reserve bank. Well, hypothetically you could, but why would someone open a bank like that? If they have to keep all your money on reserve, they can't lend any out. If they can't lend any out, they have no incentive to be in the business of demand deposits. So they only have CDs and other non-demand accounts to rely on for money to loan. Then there's much less money to loan, wealth is produced at a much slower rate. And riskier loans
brendanwm814 8 months ago
@brendanwm814 How does a stock broker remain in business? A stock broker is similar to a full reserve bank. You pick where your investments go and take all the risks. Allow banks to make those decisions is a moral hazard! They will blow it on loans to their friends and you can go back inn time and see this fraud repeated over and over. google lincoln savings and loan crisis for one.
pirucreek 8 months ago
to start ups and small business men are less common because supply of credit can't meet demand. The small supply of credit goes to only the most qualified individuals -- the wealthy -- so their wealth continues to accumulate, while everyone else can't create wealth because they can't get the loan to do it.
brendanwm814 8 months ago
@brendanwm814 This is the logic why I think all debt should be ended. Debt is money. The way you earn money is by working, not via credit. If you want to do something that costs a lot of money save or find investors. Everyone else can't create wealth because they don't save and expect a free loan from the government. Start-ups and small businesses are not my problem, they are your problem. To create businesses, you must save not depend or steal wealth of others.
pirucreek 8 months ago
@pirucreek I agree 100%.
antred11 7 months ago
wow - what lies - just check the budget at whitehouse.gov
LizChecksFirst 8 months ago
wow - what lies - just check the budget at whitehouse.gov
LizChecksFirst 8 months ago
Sarah Palin would never use such big words.
SeamusLight93 8 months ago
this is fantasy economics
mokum777 8 months ago
Talk about voodoo economics. Worst piece of tripe I have ever seen. Blatant lies if you fact check.
jaelty 8 months ago
Are we meant to receive our education on this, or any, subject, from Sarah Palin? Otherwise an alright video.
RobertHartlepool 8 months ago
Are we meant to receive our education on this, or any, subject, from Sarah Palin?
RobertHartlepool 8 months ago
Don't waste your time on this ridiculous video. If you want a cartoon explanation, go to
this youtube video: wpmlHTeVG9A
GetItRight4aChange 8 months ago
"Obama cut the deficit in the first year" Dumbest thing I have ever heard.
BrulesRules001 8 months ago 27
@BrulesRules001 The deficit was already massive when he stepped into office. If you believe the treasury direct numbers the deficit did drop. Not much but a little bit. You should look at the chart in my deficit video.
pirucreek 8 months ago
@pirucreek The treasury direct numbers do a shell game to hide the numbers. The deficit did not drop when you include the stimulus and other government policies - it tripled instead. Accepting the government's numbers at face value is naive and intellectually void. The government lies all the time to make things seem like the government's intervention is helping and not hurting....
mtanousable 8 months ago
@mtanousable thats so true unfortunately. However a little common sense can give you this. Naturally Obama(and every other president ever to take office) doesn't want the people to know he is doing things that they will not like, such as raising the deficit. So naturally the administration plays games with the numbers. If you want the real numbers go to a impartial 3rd party site and look at the deficit numbers.
rockingForever17 8 months ago
@pirucreek yeah thats one year, but he has f***ed the last two years so bad it hardly matters his little cuts in the first year.
rockingForever17 8 months ago
@BrulesRules001 Yep! That was a dumb comment. When I heard it, I thought I was in the Twilight Zone. The credibility of whoever made this video went "poof" with that dumb remark.
ZoneIII 6 months ago
This vid is rife with inaccurate statements. While nominal rates were very high in the 50's (to repay the debt of WWII), there were many more loopholes so effective rates were much lower than that. As for keeping interest rates low being a good thing, that only makes sense if you are living on debt. As for voodoo economics, it's been PROVED by the Laffer curve, Laffer won a Nobel Prize for it.
glennd7962 8 months ago
Are we supposed to believe a virtual Sarah Palin is this knowledgeable, even if she's dead wrong? Eek.
austingrrrl22 8 months ago
Okay, you had me until you claimed Obama was cutting the debt. Obamas budget raises taxes which business will eliminate jobs to cut overhead which will eliminate tax revenue. Obama care...let's be honest...is a nice thought but America CAN'T afford it. Forget all the other radical right reasons. It is a radical left fantasy Obama isn't skyrocketing the debt!
4889870 9 months ago
The Federal Reserve is a private banking cartel that the politicians have permitted so as to provide them with virtually unlimited amounts of money to spend even without having to raise taxes. The private banks in this cartel also donate money to politicians for their re-election. They can also manipulate the money supply via various means causing inflation, deflation, booms, recessions, depressions, widespread foreclosures & re-concentration of wealth back into the hands of bankers.
Ethercruiser 9 months ago
This is such a joke...Bush and Obama are both in the bed with the fed...
ehullsner 9 months ago
Hmmmm, it appears people disagree with this.
paradym123 9 months ago 3
@paradym123 Doesn't matter if they disagree they are generally right wingers that believe in talk over facts.
pirucreek 9 months ago
@pirucreek Oh sure, because, if someone disagree's with your reasoning, OBVIOUSLY they're just "right wingers." So much easier to attach a label to them and dismiss them outright. Couldn't possible be because they possess a valid point of view that doesn't fit your own. Yup, just right wingers, I'm right and you're wrong gets us so far in this world. Thanks for continuing that fine tradition so common in today's Academia.
paradym123 9 months ago 3
@pirucreek
To make that a valid statement it would be said: Conservatives and Libertarians who prefer facts over talking points.
There, that's better.
maskedphrogg 8 months ago
@pirucreek You just discredited yourself with that right-winger comment.
richardw0000 8 months ago
@pirucreek Clueless, both parties are at fault. DoddFrank with its wonderful bill that forced banks to lend to degenerates. Overwhelming government spending by both parties.
How did QE2 do at stabilizing the housing market and aiding unemployment like its stated goal?
Bugman82 8 months ago
@pirucreek No we tend not to listen to facts that hide the real truth. The only thing I heard in this video that wasn't a misleading fact or a made up opinion is that old man bush and regan didnt agree on economics. The rest is bogus
rockingForever17 8 months ago
@pirucreek
That is why there eventually be a civil war, because you comment and many other comments from liberals say it does not matter what we think? But you want to steal our money. You are a big a** p**ssy. I wish you had the b@lls to do something, but all you do is talk, just like the rest of you wussies!
sfpatriot1 8 months ago
Obviously made by someone who gets their facts from Wikipedia. Half of the time, it wasn't clear which side of the issue the video is on. The other half of the time, it was wrong.
LarryMacFromCtown 9 months ago
the interest rate IS going to rise, there's no stopping it now
as for this video the creator is very very confused
just another wacky ron paul supporter
Winky395 9 months ago
end the fed. sheesh people - it really is not all that complicated. simple economics. If you keep printing money without a corresponding increase in goods and services that is called counterfeiting.
jesusisalive2 9 months ago
@Sharpeguy, You are talking about two different types of deflation. The type we have today has nothing to do with "reflecting the fact that they do, in fact, become easier to produce." We are deflating from an asset bubble caused by the Fed, where everyone (not just subprime borrowers) borrowed much more than than could afford. That spending created asset values that cannot be sustained by our real economy.
joetheeconomist 9 months ago
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QE2 ends this June with it the US Treasury is being taken off Federal Reserve life support having to sell a record 180 billion monthly of new issues on the open market not to the Fed. What do you think is going to happen when no one steps up to the plate at these ridiculously low rates 0.02% to 0.53%? Rates will rise it’s just when and buy how much. To join our group talking about the best ways to trade rates higher call US+949-376-8020 or for one report see web address keypage,net link 19.
pcatranis 9 months ago
This has been flagged as spam show
In all this game, the devil is the victim, is the scapegoat, will be acused of everything cause the GOD don’t want any rivals*. Conclusion: live at the full in the freedom of GOD (praying in a right form,following the INSTRUCTIONS in the Bible - keeping the 10 commandments - including keeping the Saturday as the 7th day etc.) instead of in the incapacity and limited power of devil cause he is just a temporary puppet.
diptdipt 9 months ago
Deflation is better than inflation
sharperguy 9 months ago
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@sharperguy are you out of your mind ??????
systemhalodark 9 months ago
@sharperguy you must have skipped too many lectures dude.
iLuvONG 9 months ago
@iLuvONG Nope I'd just rather things got cheaper over time, reflecting the fact that they do, in fact, become easier to produce.
sharperguy 9 months ago
@sharperguy if you have a long-term mortgage, the amount you agreed to pay worth more than the time you took on that mortgage in terms of real money. So its actually more expensive to get by.
iLuvONG 9 months ago
@iLuvONG Just adjust for deflation, the same way people adjust prices for inflation.
sharperguy 9 months ago
@iLuvONG
Right, cuz it makes so much more sense for an asset that detiorates over time to become more valuable not less.
My advice, you shouldn't have bought more house than you could reasonably afford.
maskedphrogg 8 months ago
I think "The Bernanke" had one of the affirmative action regime hires make this, Or he used Fact Check ... either way, both are bogus.
KeffieKampo 9 months ago
@KeffieKampo Whether you like to believe it or not Bernanke is a patsy. Congress elected him. Congress creates the debt, the president signs off on it. The feds only role is to buy the debt and get to collect 6% of all the interest from the debt they buy for free. The fed has to quantitative ease or the chairman will be fired by congress.
pirucreek 9 months ago
@KeffieKampo
Media-ite is just as likely.
You'd think George Soros could afford better production quality than XtraNormal
maskedphrogg 8 months ago
agree ....bunch of crap with illogical suggestions (and bad English)
drexelkwon 9 months ago
lol
fartshitrepeat 9 months ago
this video is a bunch of crap...period.
pphh97 9 months ago 2
no actrually many of the folks you claim would own more of the usa is false they would move on to more productive holdings lol
393cj 10 months ago
great has Ben every went shopping or owned a bizz ?
ohh bernanke admits his qe plans failed also so we own him what?
393cj 10 months ago
Obama cut the deficit? ROTFLMAO! Who write your comedy?
wrjamescom 10 months ago 25
Who did this video that stupid Bill Maher, this sounds like something he would produce.
btaylor9661 10 months ago
.50/gal. Right.
wire2000 10 months ago
@wire2000 Deficit spending. When you 10x the national debt, the gas prices will 10x. Congress/President is much more responsible for inflation than the fed.
pirucreek 10 months ago
@pirucreek
W/O the Fed creating money out of thin air the Congress wouldn't have had the funds to (over)spend in the first place.
Talk about putting the cart b4 the horse
maskedphrogg 8 months ago
mmmmm.... the Weimar Republik all over again... at least the hero came to save the day... oh, wait...
drewfriends127 10 months ago
This video seems very subjective. There are many important facts and issues that are completely ignored.
daneathon 10 months ago
LOL google has this as a featured video, that's funny as hell, and they have this weird kozy relationship with the NSA. Yea, I'll stick with bing
scruncherg 10 months ago
In a parallel computer animation universe Sarah Palin has a brain. Wow.
riverlioness 10 months ago
I love these science fiction videos :D
Skribduex 11 months ago
Gasoline would be 50 cents a gallon? What an imagination you have!
JoachimGutz 11 months ago
@JoachimGutz Inflation is a monetary policy. Bush and Reagan quadrupled the money supply and Bush II doubled it. $0.50 x 8 = $4.00. See my latest video why inflation will be 10% a year at the end of the year and remain there for 3 years.
pirucreek 11 months ago
@pirucreek
Inflation will be 10% at the end of the year? What makes you think inflation will decrease to that level and stay at that level for 3 years?
fubecabr 10 months ago
@JoachimGutz
In terms of gold or silver, gas is cheaper now than it was in 1965. In 1965, gas was 25 cents per gallon and silver was $1/oz. In other words, 1oz bought 4 gallons of gas. Today, 1 oz of silver buys roughly 22 gallons of gas.
Gas is not getting more expensive, your dollars are losing value at a frightening pace.
fubecabr 10 months ago 2
Wow... This is pretty clueless junk. You print money to avoid higher interest rates? CLUELESS.... Your village is calling they want their idiot back.....
If you are serious about the debt you have to look at Social Security and other entitlements. FixSSNow.Org. Be part of the solution.
joetheeconomist 11 months ago
@joetheeconomist Social security is the only program in the black and will always be in the black by design it is called the payroll tax. Printing money will result in higher interest rates. The government overspends, the fed buys the debt. The federal government created the inflation, mainly Bush and Reagan, as result interest rates rise. It is common sense and so obvious. When inflation hits at the end of the year, interest rates will rise as they are already, despite all the fed buying
pirucreek 11 months ago
@pirucreek Your words, If Ben doesn't buy the bonds, interest rates will rise. He is doing it with printed money which you say will lead to higher rates.
I don't know where you live, but inflation is already here. Oil is up 30% in the past year. Gas at my pump is up more. Food is up. Healthcare is up. 21% of small business is planning to rise prices. All of this while we have 9% unemployment.
joetheeconomist 10 months ago
@pirucreek your words were that the Fed was buying bonds to lower rates with printed money. That is a short-term event which leads in your words to higher interest rates.
You are letting your political bias cloud your judgment. Reagan raised taxes. He didn't cut them. His 1981 tax reform was never even fully implemented. It was replaced by the 1986 tax reform act which was revenue neutral. While it lowered tax rates, it increased taxes on corporations and removed deductions.
joetheeconomist 10 months ago
@joetheeconomist The top tax rate was 70% when Reagan went in office and left with them around 28% top bracket. Median income tax dropped from 50% to 30%. Top corporate rate dropped from 50% to 39%. This based off images, but the way I see it he cut taxes and increased spending resulting in quadrupling of the national debt after Bush I left office. However the graphs do show stable revenue as a percentage of gdp. The deficts were as result of spending especially defense spding star wars...
pirucreek 10 months ago
@pirucreek , Tax Rates are meaningless absent what happened to deductions. Reagan's 1981 tax package was never fully implemented. The Democrats lead the 1986 reform package not Reagan try and remember that - Bill Bradley sponspored the bill. Here are the taxes that Reagan increased : FICA, Transportation, Income taxes on me (middle class America) went from11 to 15%. He called it a tax cut and liberals who are too stupid to count believed him.
joetheeconomist 10 months ago
@pirucreek Most every agrees that the "Star Wars" spending that you deride was the cause of the collapse of the Soviet Union. Even the Russians have acknowledge that they spent themselves into failure trying to keep up with something that probably workn't even have worked. I think the defense spending that you should be questioning would be that of Bush Sr and Clinton. What wars were they fighting with 300 billion+.
joetheeconomist 10 months ago
@pirucreek
WRONG. Social Security ran a deficit last year and will again this year. Do a google search for the widely reported headline, "CBO: Social Security to Run $45 Billion Deficit in 2011."
fubecabr 10 months ago
@fubecabr From what I read it will post a $100 billion defici this year due to the $1000 break obama added in. However, all this money is coming out of the SS trust fund. however, when the trust fund runs out, I highly doubt they will let it run red. They will probably come for more payroll taxe, when they should allow you to receive your medicare payment in cash.
pirucreek 10 months ago
@pirucreek
There is no trust fund that's just sitting there with trillions of dollars in an account. It's just a ledger of IOUs from the most reckless, spendthrift, and irresponsible government in the history of the world. They're not even marketable securities. They're completely worthless.
There will not be enough working people or money to confiscate to provide everyone with Medicare and Social Security as currently constituted. Together, they're a $100 TRILLION unfunded liability.
fubecabr 10 months ago
@fubecabr According to the SS office there is 2.6 trillion in assets there. However, I think you are saying when they consider the national debt they combine them. Which is true. If you go to the SS site it appears they don't get any interest from their trust fund. Which is really sad because the fed gets to keep 6% from the treasuries they buy out of nothing. They would rather pay China and Japan interest than the retirees. As for the unfunded liability you don't count future revenues.
pirucreek 10 months ago
@pirucreek
The assets are IOUs. They are not marketable securities like treasury bonds. If they were, they could sell them to the stupid Chinese or Japanese and raise cash to make payments to beneficiaries. As far as the national debt goes, yes the IOUs are counted in the mix.
The unfunded liabilities represents in excess of what will be received in future payments. That's why they're called "unfunded liabilities." There's no plan in place to cover them, nor could there be.
fubecabr 10 months ago
@pirucreek
If you don't believe me, here's Richard W Fisher of the Dallas Federal Reserve with a speech about these issues.
dallasfed d o t org/news/speeches/fisher/2008/fs080528 d o t cfm
Again, there's not enough wealth to confiscate, present or future to cover promises made to seniors. Both Medicare and Social Security are pyramid (Ponzi) schemes. They're both detonating and will continue to do so until eliminated or made mathematically sound.
fubecabr 10 months ago
@fubecabr I will watch the video later. But, what he fails to realize SS will collect 15.3% of everybody working to the seniors. "Promises", i would be more upset with the current trust fund that has been raided to fund overpriced medicare and collects zero interest. We definitely need to end medicare and have that money go into the SS check. This should be the promise, "Revenues from the payroll tax should equal SS and medicare payments."
pirucreek 10 months ago
@pirucreek
It's not a video, but an article. You can also do a google or youtube search for "unfunded liabilities."
Yes, it steals 15.3% of everyone's wages. The problem is that benefits exceed that.A BIG part of the problem is inflation. Even if the decades of surpluses weren't raided to subsidize the rest of the government's prodigious spending, the trust fund still wouldn't hold enough money. SS also needs to be means tested. Bill Gates should not get benefits.
fubecabr 10 months ago
@fubecabr Social Security OASDI Trust Fund earned about 108 billion in interest on Treasury obligations. All debt is an IOU. The idea that treasuries are worthless is news to the vast majority of pension fund managers who buy them. They aren't marketable - and don't need to be largely because of the investment policy of the Trust which keeps a large position in short-term Treasuries. There is a solution FixSSNow (Dot) Org.
joetheeconomist 10 months ago
@joetheeconomist
Yes, all debt is an IOU. But some IOUs are legally assigned/traded and worth more than others. If I own a T-bond, I can sell it to another person at any time. It is a fully-marketable security. The "trust fund" does not hold treasury bonds.
Yes, Treasuries are becoming worthless and that became apparent to the largest bond fund manager in the world, Bill Gross of PIMCO. Not only did he sell, but he is shorting treasuries now as well.
fubecabr 10 months ago
@fubecabr, your concern is more than offset by the investment policy of the Trust. The Trust ladders the debt evenly over 15 years, as a consequence it normally has cashflow from redemptions. Your concern should be with the investment policy rather than whether the debt is marketable. I hope that you see that there is a huge difference between becoming worthless and worthless. That said, I am short Treasuries as well...
joetheeconomist 10 months ago
@joetheeconomist
You're missing my point. It is an obligation of the US government that is junior to actual treasury bonds. If the debt ceiling isn't raised or the government can't raise enough cash, its first obligation is to wages of govt. employees, then treasury bondholders, then suppliers/contractors, and lastly social security/medicare/VA/welfare recipients. If the government decreased payments to SS, it would not be a default on the debt.
fubecabr 10 months ago
@fubecabr Interesting point. Where did you find that Treasury Bonds are senior to Special Redemption Bonds? That is news to me. Do you have a source?
joetheeconomist 10 months ago
@fubecabr If you are going to means test social security you had also better be prepared to allow those folks to opt out of paying into it. I am no millionaire, but if i were i would have rather vociferous objection to paying for something i am not using. Such is the case with the current redistributionist policies in place and the opposition to higher taxes to continue paying for them.
jteutulsr 10 months ago
@jteutulsr I agree no means testing, SS or any other program should never be means tested. The present system already provides medicare benefits that are more or less equal for everyone. Thus those that paid less into medicare and live in New Jersey are really raping the system.
pirucreek 10 months ago
@fubecabr The benefits don't exceed that, they are just adjusted for inflation. Retirees might have earned a little extra from when the 15.3% rate was much lower before 1980. If you earned $4 per hour in 1946, it is a lot less than earning $10 per hour today. SS will always have enough if you consider payouts should come from present payees.
pirucreek 10 months ago
@pirucreek
The way that SS benefits are calculated and the way that SS revenues are generated are two completely different things. That's why there's a $13.6 trillion unfunded liability associated with SS.
SS adjusts benefits based on the CPI, which was changed in 1993 to understate inflation. They exclude food and energy and do hedonic adjustments. So if a car goes up $1000 in price, but the govt. says that there's $1500 in added value, then they say the price went down $500.
fubecabr 10 months ago
@pirucreek Sorry Piru. SS is done within 10 years. People who talk about retirees per worker miss the point. It is debt service plus retirees per worker. Every member of the working generation supports $100,000 in public debt. As America allocates more of its tax base to debt service, it leaves less and less for everything else. It is like musical chairs where debt service always wins. America will at some point have to choose between supporting the debt or the retirees who created it.
joetheeconomist 10 months ago
@pirucreek The Trust Fund is economic parsley. 2.4 trillion sounds like a lot but it is pretty small compared to the outlays. The Fund hasn't been raided. It just isn't very big. Social Security is a pay as you go system. I am not sure why you think that it earns no interest - you should look at the Trustees report for 2010. It earned about 5%, largely from debt acquired many years ago.
joetheeconomist 10 months ago
What a crock of you know what. To excuse Obama from running up more debt than every president through Reagan combined is ridiculous. His deficit in Feb. alone was more than a whole year's deficit under George W. Bush. And it continues as far as the eye can see. This president had to have capital gains explained to him by Charlie Gibson, and admitted to the New York Times that there is no such thing as a 'shovel-ready ' job. He hasn't got a clue on how to fix the economy.
pleyel 11 months ago
This has been flagged as spam show
Wow, did these people write the script for this video down before or after they 'wiped' on the paper? If you viewers would do your homework, you would know what the truth is. 'Follow' at your own risk! Somebody with some common sense might save you 'tards if you are lucky.
1951feb 11 months ago
Wow, did these people write the script for this video down before or after they 'wiped' on the paper? If you viewers would do your homework, you would know what the truth is. 'Follow' at your own risk! Somebody with some common sense might save you 'tards if you are lucky.
1951feb 11 months ago
workers need to file their own taxes. They should even file the 941 and 940 reports. The fines for filing incorectly should be paid by the workers.
If workers do not file taxes it will look like the employer is the enemy to the average worker.
captkirkconnell 11 months ago
money should be like meat and decay?!?! wtf?? That is absolute nonsense.
chyphead 11 months ago
you can put bernanke's face on it, and get rid of him but the problem existed before him and continues to after.
'the interest rates will rise'
fuck that, we are 400 million strong, let's not pay and end the fed.
we can still learn from greece.
reeves311 11 months ago
Whoever made this is an idiot.
Even SUPPOSING inflation could solve the (debt) problem that Japan and China now owns the lives and futures of Americans and their children, why is it Japan and China own this in the first place, you ignorant fuck?
Sinisterene 11 months ago
Anybody remember that film where some guys told the king they have invented an invisible suit, and the king "puts it on" and appears in court naked, and goes on walkabout, and some young boy who hadn't heard the story of the invisible clothes sings "The king is in his all-together, he's altogether as naked as the day he was born...
Not quite sure why I suddenly remembered this?
ampersandtay 11 months ago
@ampersandtay It's a fairy tale, actually, by Hans Christian Andersen, if I remember rightly. It's called the Emperor's New Clothes. I don't