Greed has always been the case. Not taxing land values creates boom & busts - typical over past 100 years. When on the up curve (boom time) greed takes hold and the best & safest gains were from land. History shows that surplus money is poured into land. Tax the values of land and many social ills will disappear - as Tolstoy mentioned. Adam Smith David Ricardo Henry George Leo Tolstoy Winston Churchill Einstein Milton Freidman Martin Wolf (FT) etc All in favor of taxing values of land
"Yes, you are convincing me now. We will return to the days of ancient Rome, or the Dark Ages with no greed or social ills"
You claim to be some sort of economist with all these videos. Yet you have not heard of Land Value Taxation. It was clear you knew nothing of classic vs neo-classic. Have your heard of American economist Henry George? What he proposed? I doubt it.
An economist would look into these matters, not make childish comments indicating a clear lack of knowledge
@NearAbbeyRoad I claim only that anybody with common sense can see through these economic schemes and cults. I don't care about Henry George. And I don't see that LVT or you have addressed the problems of manias, speculation, artificial credit/debt expansions, government-mandated lowered lending standards, fractional reserve banking, central planning, waste, and change. You say LVT will do away with greed and social ills, so make a video and you will have some place to make comments :)
"I claim only that anybody with common sense can see through these economic schemes and cults. I don't care about Henry George."
You clearly have no common sense. This is no Cult anyone with common sense can see that. Harrisburgh in PA uses it. The LibDem, Labour and Green parties in the UK have large LVT lobbies. Winston Churchill was a big fan.
Get this silly Tea Party thing out of your head and get to what it is about. The LAND you are standing on.
@NearAbbeyRoad But perhaps I have the sense to see that you claim LVT stops greed, and prevents social ills, but did not cure those in times when you say it was the only tax. And that it does not address any of the problems I mentioned, when you say it will prevent booms and busts. But lucky for you, you are in England and and have no Tea Party to worry about. So make a video and become Prime Minister :)
@NearAbbeyRoad Ah yes. You said the land was "tax free" ... but it wasn't tax free. And I don't care about Henry George or Fred Harrison. And I don't do what you tell me :) And I understand that your scheme doesn't stop greed, prevent social ills, prevent booms and busts, or address any of the boom/bust causes I mentioned. And why should I go away? This seems to be my page :D
gains on land are tax free, or very little tax, hence why they poured debt after debt into land.
Your ignorance of economics is all too clear. You want a free-market and Geoism/LVT gives that. You have never heard of Henry George, who wrote one of the biggest selling books ever on economics, and do not want to know.
It is best you drop this Tea Party thing and go to real proven economics that will give you what you want. First get to know Henry George, LVT, etc - everything to gain
@NearAbbeyRoad LOL...gains on land are free? That is the funniest / stupidest thing I've heard in a while. 1st you have continual property taxes. 2nd, upon sale you have capital gains taxes. Most property appreciation happens over time. In many cases the property taxes alone could more than wipe out any real gains...but of course they are not calculated into cost basis...nor is inflation. If it's such a great deal go buy raw land.
What stops greed is mechanisms that prevent greed from occurring. Speculation causes greed - lots of very fast money. LVT stops that in vital LAND. Play around with LAND and you create crashes. Of course controls and regulations in the finance industry need implementing as the wreckage of the crash revealed.
LVT STOP BOOMS & BUSTS!!
It is clear you know nothing of LVT and Geoism. It is massive, especially in the USA. Look at the Fred Harrison videos, you have everything to gain.
@NearAbbeyRoad Now LVT prevents greed from occurring? Now we can be free of greed, for the first time in history, except before the industrial revolution or whenever you said was the time when there was only tax on land and there was no greed. And you're back to the LVT stops booms and busts nonsense again, without addressing the causes of booms and busts that I mentioned. And now LVT is massive. So?
"And I don't care about Henry George or Fred Harrison."
Did you look at the Fred Harrison Youtube vid? About US Ghosts towns? How they came about and how it can be eliminated, inc booms & busts?
Fred with nobel prize winner Bill Vickry, Hudson, etc went to Russia to advise Gorbachev on how to change the Soviet system. They pleaded with him to not sell off land and lease it out as in Hong Kong. When fool Yelskin got in he sold it all off. Look at the shambles left behind.
@NearAbbeyRoad I don't care about George or Harrison. And I think the USSR failed for other reasons. But you seem to just repeatedly state all these wild claims about greed and booms and busts as fact, without backing it up. I think I am tired of you. Good bye :)
Income Tax takes the fruits of a man's labor - socializes private wealth.
It was a temporary funding Napoleonic wars. Before this revenue was from the land. Landowners saw they could push taxes onto the poor away from themselves. Economic growth soured in the industrial revolution & by stealth they gradually put taxes from land onto income.
Tax WEALTH not Income. Wealth that soaks into the land & emerges as LAND VALUES.
@NearAbbeyRoad Now the industrial revolution has decreased economic growth? And the Romans had no head tax? You should definitely make a video about this baloney.
There are lots of videos on LVT, etc. Search Youtube on Land Value tax, LVT, "Fred Harrison".
A far better "deep root" solution than this tea party baloney.
BTW, those who threw the tea overboard at Boston in the "Tea Party" where smugglers, who were upset that a tax was LOWERED on tea, which would impact on their illegal activities. The mob have ruled the US ever since.
@NearAbbeyRoad But you are so convincing that your video will certainly turn the tide, and we will be free of greed and social ills. And the tea tax was lowered, but accepting it would have meant accepting taxation without representation. Lucky for us though, your ancestors stayed in England ;)
The 1929 and 2007/8 crashes was that debt after debt was poured into LAND. Because LAND was tax free.
Using Land Valuation Taxation STOPS Boom & Busts
Economic Community activity, creates LAND VALUES. The values in land is community owned value. LVT reclaims the value for community revenue. No Income tax.
@NearAbbeyRoad Booms and busts are created by artificial credit/debt expansions, like in the 1920's and 2000's. Busts can also be created by change, with lag time in changing from old unneeded production to the new production. I don't see how taxing land stops those. And I suspect that if you want to tax land ... you don't own any. And what is the tax to be used for? I suspect that you will get some of it ;)
The Dot-Com bubble was benign - it only affected those in it. I saw no gvmt intervention. Play around with essential LAND and its resources and the world will crash around you. Taxing Land Values stops speculation in essential LAND.
Your last comment was childish & silly. LVT, the SINGLE TAX, would replace income tax. BTW, I partially own the land under me - no more.
Tax wealth not income.
Do a search on LVT, Geoism, Henry George, etc. That will fill you in.
@NearAbbeyRoad And I clearly do not see how your scheme prevents manias, speculation, artificial credit/debt expansions, government-mandated lowered lending standards, fractional reserve banking, or prevents change. So I don't see how it stops booms and busts ;) And I clearly don't care about more collectivist schemes either.
Not my scheme. Works in Harrisburg, Auss, etc - limited form
HARMFUL speculation on LAND and Resources is STOPPED.
Promotes enterprise - NO tax on the fruits of labor.
Other speculation, on CAPITAL, is generally benign, like Dot.Com.
We can't live without LAND and its RESOURCES. They are commonwealth. Economic community activity soaks into LAND as LAND VALUES. Reclaim the community created wealth for revenue. NO Income Tax.
Look up Geoism and understand how it works - quite ancient
@MrTugwit Geoist economics is a solid base that distributes wealth "fairly". Harmful Speculation in vital LAND & Resources, inc electromagnetic spectrum, etc - STOPPED. Promotes enterprise. Private appropriation of Commonwealth is stopped. Private wealth stays in private hands, not public, by NO Income Tax. Keeps free-market free with little control. Self regulating variable charge as based on land's "value" Fits into any ism. Business behavior stays the same. FAR less need for personal credit
@NearAbbeyRoad Ah yes. Distributes wealth "fairly". More collectivist nonsense. And I still don't see how your scheme prevents manias, speculation, artificial credit/debt expansions, government-mandated lowered lending standards, fractional reserve banking, or prevents change. And I still don't see how land was "tax free" in the 1920's and the 2000's. I'm still not buying your baloney :)
"Ah yes. Distributes wealth "fairly". More collectivist nonsense. "
I have concluded you are not very bright. Geoist economics is the opposite of collectiveness.
!And I still don't see how your scheme prevents manias, speculation, artificial credit/debt expansions, government-mandated lowered lending standards, "
That was simply laid out for you.
" And I still don't see how land was "tax free" in the 1920's and the 2000's."
It still is! Do not post. Read up at what I wrote
"And I still don't see how land was "tax free" in the 1920's and the 2000's. "
It still is. The "gains" on land are tax free. LVT reclaims the gains which were created by the community not the landowner. Value in land is community created value and reclaimed. That public wealth is appropriated by private people or companies.
Geoist economics is Capitalist with LVT as its core and a "free-market". Taxing land values with little Income Tax, makes Hong Kong a dynamo of enterprise
"what caused bankers to wrecklessly lend money to people who couldn't afford it? It was the pursuit of the unearned gain from LAND. LAND is the one asset that delivers the largest safest capital gain to speculators"
"That instability is driven by the pursuit of capital gains from LAND"
Look at these:
Ricardo's Law ~ The Great Tax Clawback Scam
Max Keiser - Economist Says Current Financial Struture Will .flv
the pursuit of the unearned gain from LAND. LAND is the one asset that delivers the largest safest capital gain to speculators. if that's the reason then that where policy should be focused. Not talking about re-regulating bankers, greedy bankers, crooks, bonuses, etc. None of that would have been possible if the financial system was structured to reward people that go to work, who add value to the economy, produce services & goods
@therealcapitalist You seem to be focused on the side shows instead of the real problem. From your questions, I think you have been taught what to think, instead of how to think.
Unsubscribe and spend the time reading "Economics in One Lesson" by Henry Hazlitt, and "The Power of Logical Thinking" by Marilyn vos Savant.
Today the national debt is $14,87 Trillion. One year from today check the national debt and see if it has decreased.
Don't let anyone, including me, do your thinking for you.
It does not go far enough. Modern economics is called neo-classical as opposed to the original Classical. 100 yrs ago economists for vested-interest reasons merged LAND with CAPITAL, treating land like a dishwasher. Ever since the world economy has gone from boom to bust and two crashes. We must go back to Classical and tax the values of land as Adam Smith, David Ricardo stated.
@therealcapitalist The Dem pols you said won't budge. Will they cut the size of govt ... after they just increased it 25-30% in 2 1/2 years?
To pols, "spending cuts" always means that instead of overspending by $100, they will overspend by $95. And they never make a profit, they always lose $.
And those "upper class" will pass the cost to you anyway, as increased prices, decreased quantity or quality of products, or fewer jobs.
@therealcapitalist I mean the Wealth Tax of 1935. The the Undistributed Profits Tax of 1936. And all those excise taxes. Sucking the life out of the private sector. And bad-mouthing business, and class warfare, and over-regulation like the NRA and AAA. If you want this recession to go on and on like the Great Depression, just repeat the mistakes of the Great Depression like Obama is doing.
Do you think they have any intention at all of cutting the size of govt???
@therealcapitalist Do you think they will use the tax $ to lower the debt? Do you know what the wealth tax did to the economy in the Great Depression?
@MrTugwit- I don't know... but I think it would be best if government programs were cut AND the top 1% of Americans pay at least 1 or 2 percent extra taxes, to decrease the debt at a faster rate.
@therealcapitalist You think our DC morons would use the $ to decrease the debt??? They haven't for 60 years.
You think that giving more money to DC losers, who never make money, is better than leaving it with people who know how to make money and run businesses?
Simple introduce the SINGLE TAX - Land Valuation Tax. No income tax only one, taxing the values of land and its resources. These are common wealth and when used charged by the value. The community reclaims the value the community created. Private income stays in private hands - no income tax, inheritance tax etc. Enterprise is promoted, harmful land speculation eliminated. Enterprise creating infrastructure is easily funded. Land cannot be taken off-shore or LVT avoided.
@MrTugwit- What do you think of the Occupy Wall Street protests? If stupidity on wall street made problems worse, you might support the protest somewhat right?
"the source of the problem was Congress and the Fed."
The ROOT CAUSE of the problem was speculation in LAND. The crash wreckage also revealed skuldugery and malpractices. The media focused on the skuldugery as people and companies can be named, ignoring the ROOT CAUSE, speculation in LAND.
Why LAND? Because it was tax free. LAND is a limited resource and subject to location for its value.
@NearAbbeyRoad Here land is taxed. Taxes don't prevent speculation. Speculation wasn't the only cause of the debt and recession. And wasting tax money is another cause of recessions.
Ina very small way in property tax. This takes into account the building on the land, not the land "value" itself. LVT is the SINGLE TAX. Understand LV. You clearly do not.
Research Glass-Steagal. It was put in place for a reason. Similiar banking shenanigans that caused the '29 collapse is what caused the bankrupcy of the financial giant in early '08. The idea that a commericial bank can sell off your loans, debt, 401ks, ect to investment banks to in turn sell of to investors to play on the stock market it moronic and as reality has shown, dangerous, and it seems that very few are aware of this because of the false arguements that plague tv and the net.
@horrorandmetalfan001 Would Glass-Steagall have stopped what the Community Reinvestment Act regulators did to lending standards?
The main problem in the 20's was the Fed's artificial credit expansion. In the Great Depression, universal banks, which G-S divided, were less likely to fail than commericial, and underwrote fewer bad bonds than investment-only banks. About 1/2 the bonds that defaulted were in public utilities and railroads which were govt-regulated.
@horrorandmetalfan001 A major Great Depression problem was state and fed unit banking laws and regulations, limiting banks to a single office, and keeping them from diversifying loans and sources of deposits. 90% of bank failures were small rural unit banks. Canada allowed nation-wide branch banking, and had no bank failures. A 1931 Fed study said the main failure cause was bad lending practices: lax lending standards, lack of credit data, slack collections, similar to what the CRA set up.
Central govt planning by the Fed and Congress (with CRA, Fannie and Freddie buying bad loans, and the Fed's artificial credit expansion) is the main cause.
There was no prohibition of regulating derivatives. Brookesley Born warned about them in the 1990's.
"What we are dealing with now" is caused by Tea Partiers??? Come on.
"2 Trillion of national debt is fictional"??? Gimmee a break.
@therealcapitalist Apparently 2 or 3 writers who loved FDR, pretty much dominated FDR history for a while, and everybody else followed. Other people started looking for themselves and found more of the story. "New Deal or Raw Deal" by Burt Folsom, and some refs I have in the info box under the video, tell what school teachers and profs have been leaving out. The 1st time there was big govt intervention in a recession, and it turned into a 10 year depression? There's a reason for that.
@therealcapitalist So you ask "Why the Obama clipping?" and get "It's part of American history." It's better out in the open. They should wear a button. You could then look around and see maybe one conservative button in the whole school, and know what's up. The hidden selection bias is worse. Like failing to mention that FDR was worse than Hoover, nearly a dictator, and the New Deal nearly ruined America. You have to think for yourself, and don't depend on your teachers alone.
@therealcapitalist I wouldn't bother. Probably most teachers are liberals or progressives. They learn it from their teachers and college professors. It's no surprise that Bill Ayers ended up as a professor of education. It's more effective than setting bombs. And public school teachers are govt employees, and probably belong to the liberal NEA. They like Obama, because he's spending lots of other people's money on them.
@MrTugwit- I'll look into that. Ron Paul sounds like he may be a good canditate for next election, although I don't know if legalizing drugs would be a "good" thing or a "bad" thing.
@therealcapitalist I don't agree with everything he says, but I like him. I'd like to see somebody rip the Fed. The moron central planners there are ruining us, and nobody seems to care about it.
@therealcapitalist Patronage. If representatives or senators didn't support him, no $ for their people. Just before elections he poured $ into key states and districts. The WPA became a political patronage machine. Some people hired by the WPA were required to kick back money to get or keep the jobs. The worse he made the economy, the better it worked. Take $ from the suckers, and buy votes. Read "New Deal or Raw Deal".
No, I wasn't taught FDR saved America from a Great Depression. It's been a couple of years since American History, so I don't really know much about Harding. At least FDR help create parks.
@therealcapitalist FDR "created" some parks, and the TVA, and other stuff, but at the cost of huge suffering. The Okie cotton pickers in Steinbeck's "Grapes of Wrath", were forced to migrate to California, because the feds ordered millions of acres of cotton plowed under. The reference to the slaughter of the pigs, refers to the feds ordering 6 million pigs killed and used as fertilizer, while people starved. FDR was incompetent and nearly a criminal. Harding was much better.
@therealcapitalist FDR "created" some parks, and the TVA, and other stuff, but at the cost of huge suffering. The Okie cotton pickers in Steinbeck's "Grapes of Wrath", were forced to migrate to California, because the feds ordered millions of acres of cotton plowed under. The reference to the slaughter of the pigs, refers to the feds ordering 6 million pigs killed and used as fertilizer, while people starved. FDR was incompetent and nearly a criminal. Harding was much better.
The waste of FDR's New Deal central planning, prolonged and worsened the Great Depression.
Were you taught in school that FDR and the New Deal saved America from the Great Depression?
Did they ever mention the severe 1920-21 Depression, that was over in 18 months ... because Harding refused to intervene ... and decreased govt spending?
@MrTugwit- So what you're saying about the tea party & libertarians is that's there's basically no difference, except people would view the tea party in a different perspective?
@therealcapitalist I'm saying that I'm a libertarian conservative Tea Partier. Other Tea Partiers may be straight conservatives, or libertarians, or moderates, etc.
The common thread is that the Constitution is what protects our liberty and property from theft by politicians and freeloaders. And that bigger govt means more tax and waste, and less prosperity.
You can't even vote yet, and pols and freeloaders are stealing from you, and wasting your future earnings.
"New Deal or Raw Deal" by Burt Folsom, and "FDR's Folly" by Jim Powell, explain what happens when politicians gets into the jobs business, and how the resulting waste kept the Great Depression going until the New Deal central planning ended.
Look at how the 2009 Obama Stimulus was wasted. Less than 5% was on infrastructure.
And changing the words from "stimulus" in 2009, to "jobs" in 2011 makes no difference to anybody but a lawyer.
What I really enjoy are the constant admonitions against "central planning" when it's a centrally planned economy that is responsible for keeping the US economy afloat. I'm not interested in moving to China, nor am I interested in living in any totalitarian/socialist state. This constant Hayekian nonsense is a red herring to obscure the fact that we are giving more and more and more to the private sector at te expense of the poor and middle class.
@hermes369 Central planning is ruining the economy. "We" are "giving" more to the private sector? That's nonsense. The private sector funds everything.
@MrTugwit To whom do you imagine received TARP?! Private sector?! Try China! What Central Planning there is is just as much private as it is public. The Federal Reserve is NOT a government entity. You know that, right?
@hermes369 I can't tell what you are saying about TARP, private sector, and China. The Fed is part of the federal govt, created by Congress, controlled by laws from Congress, with Congressional mandates, and oversight, and board appointed by the Prez. The Fed says it is "independent within the govt". It's mandate to increase employment is part of the reason for the inflation, which it thinks will increase employment.
@MrTugwit Good post. I earn a living, pay taxes that partially go to Statist polititans buying votes, and they say they are giving me something? HAHAHA. Ask any of these dolts what opportunity cost means?
WTF! This is the biggest bunch of BULSHIT, I have EVER seen. "We cant afford Obamacare'"? GO FUCK YOURSELF YOU SELFISH PIECEOF SHIT!!. We can spend 2-3 times as much money for wars? FALSE WARS BASED ON LIES! GO PLAY IN TRAFFIC, you piece of shit.
As for Global Warming, IT IS OCCURING, if you doubt this your a DUMBASS. HOWEVER, it is NOT, I repeat NOT due to our polution BS..
@zouksesanet Hartman says Boston TP “revolt against corp power and corp tax cuts“. BS. It was against taxation without representation.
Boston TP irrelevant to today’s TP, but interesting case of stupid govt market interference.
Parliament gave East India Tea Company a monopoly. EITC had to sell to Colonies thru Brit middlemen, increasing tea costs. Parliament nearly taxed EITC out of business, losing out to Dutch competition. Tea Act cut EITC’s taxes, let them directly to Colonies.
@zouksesanet BUT there was a hidden tax, which Colonists discovered. The decreased biz taxes lowered tea prices to less than Dutch tea, but if Colonists went for the low prices, they had to accept taxation without representation. They didn't. If not for that, Colonists would have gladly accepted lower tea prices.
Biz taxes are passed on to customers, as higher prices, fewer jobs. Govt waste of taxes helps cause recessions. Hartman was wrong.
its ok all out of touch teabaggers will soon be to old to find there way to the poles and those who are simply ill informed will hopefully receive a goverment funded student loan so they to may get a clue of the reality of whats taking place in there own back yard and then these people will no longer have to look to cartoon to get there one sided political veiws and then make up their own mind about what the true agenda of all the parties really are.
@tom91775 First you said that central planners must step in to improve the competitive market. Now you say that central planning doesn't improve the competitive market or economy. Now we agree.
@MrTugwit I really have no idea what this video is talking about. The country was run on the idea that government should stay out of business including the lack of labor laws. In fact after Coolidge the Republicans had a hard time finding someone to run for office knowing what was to come. Hoover took the job and most of the blame for the great depression. He was voted out because people were tired of the government doing nothing while the people suffered.
@soulhunter59 You are correct with your 1st sentence. Compare the 1920-21 Depression, where the pols did nothing, to the Great Depression, where Hoover and FDR kept a depression going for a decade with deficit spending and central planning. 33 depressions had no govt intervention, ave 1-2 years, and then the 1st time govt intervention was tried was in 1929, and it resulted in the GD. Before people ask pols to "do something", they should ask how deficit spending and inflation cure depressions.
@MrTugwit My whole post was correct and I think you underestimate the magnitude of the great depression. The whole world was in a state of depression and also most of the world was turning to alternative forms of government. Mind you that communism was very appealing at the time and if anything FDR's policies saved us from that. Not to mention we still use the infrastructure of that time period.
@soulhunter59 I think you underestimate the magnitude of the 1920-21 depression, but Hoover and FDR's interventions would have made it worse too. So by turning the 1929 depression into the GD, FDR gets more credit as a hero? Real infrastructure fine. Where's our TVA from the Great Porkulus? How do waste, deficit spending, and inflation cure depressions? What magic do pols have for curing depressions?
@MrTugwit Yeah you definitely underestimate the great depression. It took the spending power of a world war to break us from the depression which was nothing compared to the spending of the new deal. Not to mention that the resolution of 1920-21 depression did not help the middle to lower class. People were still spending everything they had just to sleep under a broken down roof.
@soulhunter59 So the Dr. who makes his patient sicker, is a hero because his patient is sicker? FDR made the GD worse. Harding could have saved us from Bolshevism by ruining the economy too. When the 1920-21 depression was over, everybody benefited from the economic growth, and decreased federal debt.
The deficit spending of WW2 didn't end the GD. Death, destruction, and waste can't possibly bring prosperity.
But where's our TVA? How do deficit spending and inflation cure recessions?
@MrTugwit The 1920s had their own problems and they were called gangsters. The crime rate skyrocketed during this time period. It was also the years when labor unions and woman's writes activists were at their peak. Between the attacks on unions and the victims of Al Capone the streets were stained with their blood. Now during WW2 unions agreed not to strike and everyone had a job including women. Haven't you ever seen a Rosy the riveter poster. Oh and the WAC, WAVES, ANC, NNC...
@soulhunter59 So? If Harding kept the 1920 depression going for 10 yrs, would that solve Prohibition violence? Suppress crime with depression? ;) The solution to the chronic unemployment from FDR's bad policies, is to draft 12 Million into the service? Didn't Bush spend enough on wars to keep us out of a recession? Is that why BHO expanded 'Stan and added Libya?
But where's our TVA? Less than 5% of the Porkulus spent on infrastructure. How do pols cure recessions with borrowing and inflation?
@MrTugwit First of all Democrats defeated the Nazis lets make that clear. As for the depression I bet there were no runs on banks and people didn't lose everything just because their bank folded. That's right the depression was so bad the banks were not safe. What the new deal and WW2 did was put people to work. They needed people to build weapons, tanks and so on. Everyone who wanted a job had a job thus the depression was over due to government spending. .
@soulhunter59 In the 1920 depression, the Fed raised interest rates. The Fed started the GD by lowering interest rates and creating inflation to help the Bank of England. The GD bank runs were partly caused by the Fed decreasing the money supply by 35% from 1929 to 1932. The New Deal put people out of work by keeping prices high, creating Biz cartels to decrease competition, and mandatory unionization. And this stuff about WW2 deficit spending ending the GD is just plain nonsense.
@MrTugwit The reason Iraq didn't help us in the face of recession was due to the lack of a draft and wasteful spending on private companies. Halliburton cheated the US government and caused the price of oil to sky rocket. If anything you can blame Bush for mismanagement of funds. As for you concerns about profiting from death and destruction you should know that is the biggest money maker of all. That's what big business does best.
@soulhunter59 This baloney about deficit spending on war, and death and destruction being good for the economy is Keynesian nonsense. Keynes said earthquakes were good too ;) Completely absurd.
The deficit spending on WW1 helped cause the GD.
Wasteful spending on private companies? Do you want to nationalize them?
'Stan and Libya are good?
But how do pols cure recessions with deficit spending and inflation? What's the mechanism? That's the basic question of asking pols to "do something".
@MrTugwit Dude at this point I think your just making stuff up off the top of your head. No historian will tell you WW1 caused the GD. They will say the results of WW1 caused WW2 but that's another issue. When it comes to private contractors of the Iraq war I say fire them both because they have done nothing more than nickle and dime your tax dollars. But let me ask you. How do you think WW1 started?
@soulhunter59 WW1 trashed the real gold standard, and set up an unbalanced inflationary house of cards, especially in Europe, with unbalanced trade and gold flows. Inflation weakened European banks. A series of bank crises began in Austria, and spread to Hungary, Germany, and Britain. The US inflated to help out Britain in '24 and '27, accelerating our stock bubble. The house of cards eventually collapsed. Since you think I'm making this up, feel free to leave ... and don't come back ... Dude.
@tom91775 A lot of people think central govt planning sounds good. My point is, you decide where to shop, not some DC bureaucrat. And you have said that govt must step in to increase competition. How are they doing that?
@tom91775 If you really think central govt planning improves the competitive market and the economy, you should read some economics. If you don't like Walmart, McDonalds, Home Depot, and Microsoft, shop somewhere else. Do you think that adding the cost of high business taxes onto our own goods improves our competition with the rest of the world? But perhaps you are a Keynesian and believe in Santa Claus.
Only a SMALL MINORITY even know that we have "Keynesian Economics". The very definition of that is "rigged capitalism with socialism thown in as a feel good tool". Even Bill O'Reilly the televison personality, a college graduate and former school teacher proved on the air he had never heard of Keynesian Economics. John Stossel had to explain that to him on the air, its on yourtube. Keynes was WRONG, it does not work, and we have reached the "Keynesian Endpoint". BB
@5160RBB Keynesian econ should be a key issue in the next election. I hope that word gets around about it, because I think most people would be shocked by it's stupidity. People should be asking their representatives about it by email and at town hall meetings. If your representative says he's a Keynesian, kick him out.
Only a SMALL MINORITY even know that we have "Ketnesian Economics". The very definition of that is "rigged capitalism with socialism thown in as a feel good tool". Even Bill O'Reilly the televison personality, a college graduate and former school teacher proved oin the air he had never heard of Keynesian Economics. John Stossel had to explain that to him on the air, its on yourtube. Keynes was WRONG, it does not work, and we have reached the "Keynesian Endpoint". BB
Yes that is ALL true!! That's the way it WAS. Wallace has always been a super liberal, so he didn't really listen to much of anything she had to say, he was trying to slip her up She put a screeching stop to him a couple of times. He was trying to one up her. He is a left wing guy I never cared for, but I have seen him a lot, for about 30 years the SOB was in the middle of everything CBS had. I used to like to watch that guy impersonate him on SNL, that was funny. BB
Check out the AYN RAND INTERVIEW WITH MIKE WALLACE that was filmed in February 1959. It's on youtube. She has several interviews on youtube, but the one with Mike Wallace, a BIG government fix it all guy. I would leave a link but I don't think this thing will let me. Very prophetic if you watch all segments. BB
@5160RBB Wallace obviously did not read "Atlas Shrugged". If altruism is demanded and commanded, it is not altruism. He was ignorant of what happened in Russia, of how Hoover and FDR's central planning extended the Great Depression for a decade, of the role of the Fed in creating and worsening the GD, and of the fact that the demise of the New Deal was what ended the GD. I don't think Wallace actually listened to anything she said.
YES absolutely. One of these days, they are going to STOP taking our "hot checks". They are going to demand some kind of HARD money and we won't have any. So, the SWHTF. BB
Keynes and the gang like to throw all kinds of "equations" they invented themselves to support their theories. They "back out" of THEIR numbers like a crooked real estate appraiser. Start out with the answer you want and work the problem in reverse to make it work. The Austrian School relies on the human mind's concept of value. Even then, without a crystal ball, can't nail it always. I would rather throw their phony numbers out, and analyze the mind set & logic. Its a tough racket
@5160RBB In my videos I have looked at their algebra and logic. Their problem is that no matter how complicated they make the math, it's based on logic errors. More complicated math only makes it easier to hide the bad logic. It's like bankers using math they didn't understand, to show that the derivatives they made from junky loans were high grade investments. When Keynes said that math may not reflect reality, he wasn't warning against it, he was telling Keynesians how to pull the Big Con.
Absolutely, the only amazing thing is, he keeps doing it, and so many people follow it. Even though the bus is going 100 MPH off a cliff, STILL a blind guy keeps driving. Yet so few people even notice. They call the Greeks note and they will default. Call the USA's note and it will default TOO. It's the bad dream that won't quit. BB
@5160RBB We are already defaulting with the inflation. "The Ben Bernank" is also in too deep to admit to incompetence. He was wrong about keeping interest rates low in 2003. And wrong or lying about the housing bubble and the condition of Fannie, Freddie, and the big banks. He tried to cover HIMSELF with inflation. And a lot of people thing the TURD is a hero. You can't make this stuff up! :D
I'm sure you have noticed how they keep saying we are in a recovery, WHEN WE ARE NOT! It's like if they say it enough it will come true, sheesh, that would be the "Fairytale Approach to Economics". Well, they electronically "print" imaginary money, so I guess that fits right in there, BB
@5160RBB Yup. And the "Ben Bernank" saying there is no inflation, and at the same time trying to use it to cure unemployment, when the 1970's proved that it doesn't. And saying that he won't monetize the debt, while he monetizes not only federal debt, but the debt of private banks. You can't make this stuff up ;)
I have been aware of Keynes for most of my life, but back about 16 years ago, I had to go back to college to "change careers" and I found out THEN and its the same NOW. In the US Keynes is called the Father or Modern Economics. It USED to be that Adam Smith was the "Father of modern Economics" you know, he wrote "The Wealth of Nations". Keynes had become PROPAGANDA, he was hailed as the genius that cracked the code, we would never have money troubles again!!! According to them. BB
@5160RBB He's the father of Fantasy Economics anyway. The guy is thousands of times bigger than Ponzi and Madoff. One of the biggest and longest running frauds in history. And STILL people want to believe in Santa Claus so much that the fraud continues. $787 Billion Obama Stimulus wasted on it. I'm sure that some of the academics know it's fraud, but they've built their careers on it, and can't back out without admitting that they are incompetent.
It's like putting a multiplier to the weather. Pretty much the same thing. Too many variables and then factor in human nature that can turn on a proverbial dime. That "You must spend yourself in to Prosperity" line of his, did me in many years ago when I first heard of the guy. Spend yourself in to AUSTERITY is more like it. BB
@5160RBB I never heard of Keynes or the multiplier until a couple of years ago. Too busy working. I was shocked. I think most people haven't even heard of the turd most responsible for ruining the economy. Interesting too about what is called "austerity" now. Greeks riot in the streets to get us and the Germans to give them free inflation money. And guys like Obama with their fingers up their noses wondering why the price of gas, etc. is going up. You can't make this stuff up ;)
Yeah your right, what I mean is it "works" to the "believers" but in the real world it is vry flawed. The more you mess with mother nature the worse you get it seems to me. Keynes and most everybody else are not smart enough to anticipate all of the "Unintended Consequences". However 1 thing is EZ to see. To throw money at one thing, you have to take it AWAY from somebody or something else. Printing money is the WORST. It robs savers and creditors. It robs everybody, BB
@5160RBB It's not just flawed, it's nonsense. Hilarious. You find YouTube videos talking about "the magic of the multiplier" and "something wonderful happens". And on the web, crap from a Drexel U. computational economics guy about "a surprising example". From Wellesley talking about how it seems that govt spending has only positive effects. From UC Davis saying that taking money from one guy and giving it to another increases GDP. All because of the nonsense multipliers. Just amazing.
Keynes was just like Marx and Engles and the others, he can make anything work on paper. The real world is different. Paper does not take in to account the "Law of Unintended Consequences". Anybody that can make an argument for a "free lunch" will get an audience. I wouldn't mind getting something for nothing myself, except I know there is always a payback, always a cost LATER, BB
@5160RBB But Keynes' multiplier garbage doesn't even work on paper. The guy was just a conman, and the folks who teach Keynesian multiplier bullcrap in our universities are either frauds or incompetent. It's like in the Great Depression when FDR brought in the clueless New Dealers who had lost contact with reality, and kept the GD going for a decade. And it shows how bad our education system is, that students get suckered by Keynesian nonsense.
NearAbbeyRoad 3 months ago
@NearAbbeyRoad Now you've found a cure for greed and social ills?
MrTugwit 3 months ago
@MrTugwit
"Now you've found a cure for greed and social ills?"
No. A way of stopping greed affecting the rest of us.
It is best you stop being childish and get to know what I am putting across.
NearAbbeyRoad 3 months ago
@NearAbbeyRoad Ah yes. Return to the good old days where land was taxed, and there was no greed and there were no social ills.
MrTugwit 3 months ago
@MrTugwit
"Ah yes. Return to the good old days where land was taxed, and there was no greed and there were no social ills."
That is an improvement. You are getting there ;)
NearAbbeyRoad 3 months ago
@NearAbbeyRoad Yes, you are convincing me now. We will return to the days of ancient Rome, or the Dark Ages with no greed or social ills.
MrTugwit 3 months ago
@MrTugwit
"Yes, you are convincing me now. We will return to the days of ancient Rome, or the Dark Ages with no greed or social ills"
You claim to be some sort of economist with all these videos. Yet you have not heard of Land Value Taxation. It was clear you knew nothing of classic vs neo-classic. Have your heard of American economist Henry George? What he proposed? I doubt it.
An economist would look into these matters, not make childish comments indicating a clear lack of knowledge
NearAbbeyRoad 3 months ago
@NearAbbeyRoad I claim only that anybody with common sense can see through these economic schemes and cults. I don't care about Henry George. And I don't see that LVT or you have addressed the problems of manias, speculation, artificial credit/debt expansions, government-mandated lowered lending standards, fractional reserve banking, central planning, waste, and change. You say LVT will do away with greed and social ills, so make a video and you will have some place to make comments :)
MrTugwit 3 months ago
@MrTugwit
"I claim only that anybody with common sense can see through these economic schemes and cults. I don't care about Henry George."
You clearly have no common sense. This is no Cult anyone with common sense can see that. Harrisburgh in PA uses it. The LibDem, Labour and Green parties in the UK have large LVT lobbies. Winston Churchill was a big fan.
Get this silly Tea Party thing out of your head and get to what it is about. The LAND you are standing on.
NearAbbeyRoad 3 months ago
@NearAbbeyRoad But perhaps I have the sense to see that you claim LVT stops greed, and prevents social ills, but did not cure those in times when you say it was the only tax. And that it does not address any of the problems I mentioned, when you say it will prevent booms and busts. But lucky for you, you are in England and and have no Tea Party to worry about. So make a video and become Prime Minister :)
MrTugwit 3 months ago
@MrTugwit
The 1929 & 2007 crashed were land fuelled.LVT prevents that. Get it?
You have never heard of Henry George for God's sake!
Did you look at the Fred Harrison Youtube vids I told you look at?
You clearly did not understand something so fundamentally simple.
If you had brains you would go away and find out and not write tripe on some misguided Tea Party cartoons.
NearAbbeyRoad 3 months ago
@NearAbbeyRoad Ah yes. You said the land was "tax free" ... but it wasn't tax free. And I don't care about Henry George or Fred Harrison. And I don't do what you tell me :) And I understand that your scheme doesn't stop greed, prevent social ills, prevent booms and busts, or address any of the boom/bust causes I mentioned. And why should I go away? This seems to be my page :D
MrTugwit 3 months ago
@MrTugwit
gains on land are tax free, or very little tax, hence why they poured debt after debt into land.
Your ignorance of economics is all too clear. You want a free-market and Geoism/LVT gives that. You have never heard of Henry George, who wrote one of the biggest selling books ever on economics, and do not want to know.
It is best you drop this Tea Party thing and go to real proven economics that will give you what you want. First get to know Henry George, LVT, etc - everything to gain
NearAbbeyRoad 3 months ago
@NearAbbeyRoad I think that it's best that you not tell me what to do, especially when it' s baloney :)
MrTugwit 3 months ago
@NearAbbeyRoad LOL...gains on land are free? That is the funniest / stupidest thing I've heard in a while. 1st you have continual property taxes. 2nd, upon sale you have capital gains taxes. Most property appreciation happens over time. In many cases the property taxes alone could more than wipe out any real gains...but of course they are not calculated into cost basis...nor is inflation. If it's such a great deal go buy raw land.
xr4ticlone 1 month ago in playlist More videos from MrTugwit
@MrTugwit
What stops greed is mechanisms that prevent greed from occurring. Speculation causes greed - lots of very fast money. LVT stops that in vital LAND. Play around with LAND and you create crashes. Of course controls and regulations in the finance industry need implementing as the wreckage of the crash revealed.
LVT STOP BOOMS & BUSTS!!
It is clear you know nothing of LVT and Geoism. It is massive, especially in the USA. Look at the Fred Harrison videos, you have everything to gain.
NearAbbeyRoad 3 months ago
@NearAbbeyRoad Now LVT prevents greed from occurring? Now we can be free of greed, for the first time in history, except before the industrial revolution or whenever you said was the time when there was only tax on land and there was no greed. And you're back to the LVT stops booms and busts nonsense again, without addressing the causes of booms and busts that I mentioned. And now LVT is massive. So?
MrTugwit 3 months ago
@MrTugwit
"And I don't care about Henry George or Fred Harrison."
Did you look at the Fred Harrison Youtube vid? About US Ghosts towns? How they came about and how it can be eliminated, inc booms & busts?
Fred with nobel prize winner Bill Vickry, Hudson, etc went to Russia to advise Gorbachev on how to change the Soviet system. They pleaded with him to not sell off land and lease it out as in Hong Kong. When fool Yelskin got in he sold it all off. Look at the shambles left behind.
NearAbbeyRoad 3 months ago
@NearAbbeyRoad I don't care about George or Harrison. And I think the USSR failed for other reasons. But you seem to just repeatedly state all these wild claims about greed and booms and busts as fact, without backing it up. I think I am tired of you. Good bye :)
MrTugwit 3 months ago
@MrTugwit
Income Tax takes the fruits of a man's labor - socializes private wealth.
It was a temporary funding Napoleonic wars. Before this revenue was from the land. Landowners saw they could push taxes onto the poor away from themselves. Economic growth soured in the industrial revolution & by stealth they gradually put taxes from land onto income.
Tax WEALTH not Income. Wealth that soaks into the land & emerges as LAND VALUES.
Socialize socially created wealth.
Keep private wealth private
NearAbbeyRoad 3 months ago 2
@NearAbbeyRoad Now the industrial revolution has decreased economic growth? And the Romans had no head tax? You should definitely make a video about this baloney.
MrTugwit 3 months ago
@MrTugwit
" You should definitely make a video "
There are lots of videos on LVT, etc. Search Youtube on Land Value tax, LVT, "Fred Harrison".
A far better "deep root" solution than this tea party baloney.
BTW, those who threw the tea overboard at Boston in the "Tea Party" where smugglers, who were upset that a tax was LOWERED on tea, which would impact on their illegal activities. The mob have ruled the US ever since.
NearAbbeyRoad 3 months ago
@NearAbbeyRoad But you are so convincing that your video will certainly turn the tide, and we will be free of greed and social ills. And the tea tax was lowered, but accepting it would have meant accepting taxation without representation. Lucky for us though, your ancestors stayed in England ;)
MrTugwit 3 months ago
This has been flagged as spam show
@MrTugwit
" Lucky for us though, your ancestors stayed in England ;)"
Unlucky for you. You would have had an NHS and police with no guns.
NearAbbeyRoad 3 months ago
Free-market. The three products of production:
1. LAND - all land and resources.
2. CAPITAL - all man-made things
3. LABOUR - people's mental and physical effort
All comes from the above.
The 1929 and 2007/8 crashes was that debt after debt was poured into LAND. Because LAND was tax free.
Using Land Valuation Taxation STOPS Boom & Busts
Economic Community activity, creates LAND VALUES. The values in land is community owned value. LVT reclaims the value for community revenue. No Income tax.
NearAbbeyRoad 3 months ago
@NearAbbeyRoad Booms and busts are created by artificial credit/debt expansions, like in the 1920's and 2000's. Busts can also be created by change, with lag time in changing from old unneeded production to the new production. I don't see how taxing land stops those. And I suspect that if you want to tax land ... you don't own any. And what is the tax to be used for? I suspect that you will get some of it ;)
MrTugwit 3 months ago
@MrTugwit
The Dot-Com bubble was benign - it only affected those in it. I saw no gvmt intervention. Play around with essential LAND and its resources and the world will crash around you. Taxing Land Values stops speculation in essential LAND.
Your last comment was childish & silly. LVT, the SINGLE TAX, would replace income tax. BTW, I partially own the land under me - no more.
Tax wealth not income.
Do a search on LVT, Geoism, Henry George, etc. That will fill you in.
NearAbbeyRoad 3 months ago
@NearAbbeyRoad My last comment was accurate. You want somebody else to pay taxes, not you.
MrTugwit 3 months ago
@MrTugwit
"Understand" Land Valuation Tax. You clearly do not.
NearAbbeyRoad 3 months ago
@NearAbbeyRoad And I clearly do not see how your scheme prevents manias, speculation, artificial credit/debt expansions, government-mandated lowered lending standards, fractional reserve banking, or prevents change. So I don't see how it stops booms and busts ;) And I clearly don't care about more collectivist schemes either.
MrTugwit 3 months ago
@MrTugwit
Not my scheme. Works in Harrisburg, Auss, etc - limited form
HARMFUL speculation on LAND and Resources is STOPPED.
Promotes enterprise - NO tax on the fruits of labor.
Other speculation, on CAPITAL, is generally benign, like Dot.Com.
We can't live without LAND and its RESOURCES. They are commonwealth. Economic community activity soaks into LAND as LAND VALUES. Reclaim the community created wealth for revenue. NO Income Tax.
Look up Geoism and understand how it works - quite ancient
NearAbbeyRoad 3 months ago
@NearAbbeyRoad Whatever baloney you are selling, I'm not buying.
MrTugwit 3 months ago
NearAbbeyRoad 3 months ago
@NearAbbeyRoad Ah yes. Distributes wealth "fairly". More collectivist nonsense. And I still don't see how your scheme prevents manias, speculation, artificial credit/debt expansions, government-mandated lowered lending standards, fractional reserve banking, or prevents change. And I still don't see how land was "tax free" in the 1920's and the 2000's. I'm still not buying your baloney :)
MrTugwit 3 months ago
@MrTugwit
"Ah yes. Distributes wealth "fairly". More collectivist nonsense. "
I have concluded you are not very bright. Geoist economics is the opposite of collectiveness.
!And I still don't see how your scheme prevents manias, speculation, artificial credit/debt expansions, government-mandated lowered lending standards, "
That was simply laid out for you.
" And I still don't see how land was "tax free" in the 1920's and the 2000's."
It still is! Do not post. Read up at what I wrote
NearAbbeyRoad 3 months ago
@MrTugwit
"And I still don't see how land was "tax free" in the 1920's and the 2000's. "
It still is. The "gains" on land are tax free. LVT reclaims the gains which were created by the community not the landowner. Value in land is community created value and reclaimed. That public wealth is appropriated by private people or companies.
Geoist economics is Capitalist with LVT as its core and a "free-market". Taxing land values with little Income Tax, makes Hong Kong a dynamo of enterprise
NearAbbeyRoad 3 months ago
@MrTugwit
Search Youtube on these:
Ghost Town 3: USA
In above, Fred Harrison says:
"what caused bankers to wrecklessly lend money to people who couldn't afford it? It was the pursuit of the unearned gain from LAND. LAND is the one asset that delivers the largest safest capital gain to speculators"
"That instability is driven by the pursuit of capital gains from LAND"
Look at these:
Ricardo's Law ~ The Great Tax Clawback Scam
Max Keiser - Economist Says Current Financial Struture Will .flv
NearAbbeyRoad 3 months ago
@MrTugwit
Look at ROOT CAUSE (LAND) not symptoms
Harrison:
the pursuit of the unearned gain from LAND. LAND is the one asset that delivers the largest safest capital gain to speculators. if that's the reason then that where policy should be focused. Not talking about re-regulating bankers, greedy bankers, crooks, bonuses, etc. None of that would have been possible if the financial system was structured to reward people that go to work, who add value to the economy, produce services & goods
NearAbbeyRoad 3 months ago
@MrTugwit
therealcapitalist 4 months ago
Ok. Well would it be ok if there were more tax cuts for the middle class as well.
"brainwashed". Whether someone's opinion is informed or not, a Youtuber should treat their subscribers with respect.;)
therealcapitalist 4 months ago
@therealcapitalist You seem to be focused on the side shows instead of the real problem. From your questions, I think you have been taught what to think, instead of how to think.
Unsubscribe and spend the time reading "Economics in One Lesson" by Henry Hazlitt, and "The Power of Logical Thinking" by Marilyn vos Savant.
Today the national debt is $14,87 Trillion. One year from today check the national debt and see if it has decreased.
Don't let anyone, including me, do your thinking for you.
MrTugwit 4 months ago
@MrTugwit
"spend the time reading "Economics in One Lesson"
It does not go far enough. Modern economics is called neo-classical as opposed to the original Classical. 100 yrs ago economists for vested-interest reasons merged LAND with CAPITAL, treating land like a dishwasher. Ever since the world economy has gone from boom to bust and two crashes. We must go back to Classical and tax the values of land as Adam Smith, David Ricardo stated.
Neo-classical was formed to counter Henry George
NearAbbeyRoad 3 months ago
@NearAbbeyRoad It doesn't matter what the names are, only the principles.
MrTugwit 3 months ago
Who are you referring to as "they"?
therealcapitalist 4 months ago
@therealcapitalist The Dem pols you said won't budge. Will they cut the size of govt ... after they just increased it 25-30% in 2 1/2 years?
To pols, "spending cuts" always means that instead of overspending by $100, they will overspend by $95. And they never make a profit, they always lose $.
And those "upper class" will pass the cost to you anyway, as increased prices, decreased quantity or quality of products, or fewer jobs.
I think you have been brainwashed ;)
MrTugwit 4 months ago
@MrTugwit- You mean when the wealth taxes were very high back then compared to now?
therealcapitalist 4 months ago
@therealcapitalist I mean the Wealth Tax of 1935. The the Undistributed Profits Tax of 1936. And all those excise taxes. Sucking the life out of the private sector. And bad-mouthing business, and class warfare, and over-regulation like the NRA and AAA. If you want this recession to go on and on like the Great Depression, just repeat the mistakes of the Great Depression like Obama is doing.
Do you think they have any intention at all of cutting the size of govt???
MrTugwit 4 months ago
Well we need to make some sort of compromise. The Democratic politicians isn't budging to cut programs without raising taxes on the upper class.
therealcapitalist 4 months ago
@therealcapitalist Do you think they will use the tax $ to lower the debt? Do you know what the wealth tax did to the economy in the Great Depression?
MrTugwit 4 months ago
@MrTugwit- Temporarily.
therealcapitalist 4 months ago
@MrTugwit- I don't know... but I think it would be best if government programs were cut AND the top 1% of Americans pay at least 1 or 2 percent extra taxes, to decrease the debt at a faster rate.
therealcapitalist 4 months ago
@therealcapitalist You think our DC morons would use the $ to decrease the debt??? They haven't for 60 years.
You think that giving more money to DC losers, who never make money, is better than leaving it with people who know how to make money and run businesses?
MrTugwit 4 months ago
@therealcapitalist
Simple introduce the SINGLE TAX - Land Valuation Tax. No income tax only one, taxing the values of land and its resources. These are common wealth and when used charged by the value. The community reclaims the value the community created. Private income stays in private hands - no income tax, inheritance tax etc. Enterprise is promoted, harmful land speculation eliminated. Enterprise creating infrastructure is easily funded. Land cannot be taken off-shore or LVT avoided.
NearAbbeyRoad 3 months ago
@MrTugwit- What do you think of the Occupy Wall Street protests? If stupidity on wall street made problems worse, you might support the protest somewhat right?
therealcapitalist 4 months ago
@therealcapitalist I already know that stupidity on Wall Street made the problem worse, but the source of the problem was Congress and the Fed.
What is it that the OWS people want done, that I would support?
MrTugwit 4 months ago
@MrTugwit
"the source of the problem was Congress and the Fed."
The ROOT CAUSE of the problem was speculation in LAND. The crash wreckage also revealed skuldugery and malpractices. The media focused on the skuldugery as people and companies can be named, ignoring the ROOT CAUSE, speculation in LAND.
Why LAND? Because it was tax free. LAND is a limited resource and subject to location for its value.
NearAbbeyRoad 3 months ago
@NearAbbeyRoad Here land is taxed. Taxes don't prevent speculation. Speculation wasn't the only cause of the debt and recession. And wasting tax money is another cause of recessions.
MrTugwit 3 months ago
@MrTugwit
" Here land is taxed."
Ina very small way in property tax. This takes into account the building on the land, not the land "value" itself. LVT is the SINGLE TAX. Understand LV. You clearly do not.
NearAbbeyRoad 3 months ago
@MrTugwit- I think it's for illegal children that's been brought in by their parents.
therealcapitalist 5 months ago
@therealcapitalist Yes. They get the lower tuition than somebody coming in legally from Louisiana, etc. Save about $100 K.
MrTugwit 5 months ago
@MrTugwit- How about Rick Perry? Do you know Why do a lot of Tea Partiers dislike him?
therealcapitalist 5 months ago
@therealcapitalist I don't know. I'm not a big fan of his support of in-state tuition for illegal aliens. But I don't know much about him yet.
MrTugwit 5 months ago
DE-regulation caused this.
horrorandmetalfan001 5 months ago
@horrorandmetalfan001 Regulations helped cause it. Check reference 9.
MrTugwit 5 months ago
@MrTugwit
Research Glass-Steagal. It was put in place for a reason. Similiar banking shenanigans that caused the '29 collapse is what caused the bankrupcy of the financial giant in early '08. The idea that a commericial bank can sell off your loans, debt, 401ks, ect to investment banks to in turn sell of to investors to play on the stock market it moronic and as reality has shown, dangerous, and it seems that very few are aware of this because of the false arguements that plague tv and the net.
horrorandmetalfan001 5 months ago
@horrorandmetalfan001 Would Glass-Steagall have stopped what the Community Reinvestment Act regulators did to lending standards?
The main problem in the 20's was the Fed's artificial credit expansion. In the Great Depression, universal banks, which G-S divided, were less likely to fail than commericial, and underwrote fewer bad bonds than investment-only banks. About 1/2 the bonds that defaulted were in public utilities and railroads which were govt-regulated.
MrTugwit 5 months ago
@horrorandmetalfan001 A major Great Depression problem was state and fed unit banking laws and regulations, limiting banks to a single office, and keeping them from diversifying loans and sources of deposits. 90% of bank failures were small rural unit banks. Canada allowed nation-wide branch banking, and had no bank failures. A 1931 Fed study said the main failure cause was bad lending practices: lax lending standards, lack of credit data, slack collections, similar to what the CRA set up.
MrTugwit 5 months ago
@MrTugwit
"A major Great Depression problem was state and fed unit banking laws and regulations,"
LAND peaked in late 1926 and dropped and then crashing in 1929. Money was poured into tax free LAND.
NearAbbeyRoad 3 months ago
This vid is dead wrong, and doesn't suprise me for the tea party.
Centeralized Government DID NOT cause the recession.
-Citigroup, The Gramm Leach Bliley act and the repeal of Glass Steagal caused this.
-The prohibition of regulating the derivatives market caused this.
-The recession started in '02 and went up until '08.
-What we are dealing with now was intentionally created by the Federal Reserve and Tea Baggers in the house.
-At least 2 trillion of the national debt is fictional.
horrorandmetalfan001 5 months ago
@horrorandmetalfan001 You are wrong ;)
Central govt planning by the Fed and Congress (with CRA, Fannie and Freddie buying bad loans, and the Fed's artificial credit expansion) is the main cause.
There was no prohibition of regulating derivatives. Brookesley Born warned about them in the 1990's.
"What we are dealing with now" is caused by Tea Partiers??? Come on.
"2 Trillion of national debt is fictional"??? Gimmee a break.
MrTugwit 5 months ago
@MrTugwit- One of the staff in the library goes on about how great FDR is. Maybe he's ill informed.
therealcapitalist 5 months ago
@therealcapitalist Apparently 2 or 3 writers who loved FDR, pretty much dominated FDR history for a while, and everybody else followed. Other people started looking for themselves and found more of the story. "New Deal or Raw Deal" by Burt Folsom, and some refs I have in the info box under the video, tell what school teachers and profs have been leaving out. The 1st time there was big govt intervention in a recession, and it turned into a 10 year depression? There's a reason for that.
MrTugwit 5 months ago
@MrTugwit- American History.
therealcapitalist 5 months ago
@therealcapitalist So you ask "Why the Obama clipping?" and get "It's part of American history." It's better out in the open. They should wear a button. You could then look around and see maybe one conservative button in the whole school, and know what's up. The hidden selection bias is worse. Like failing to mention that FDR was worse than Hoover, nearly a dictator, and the New Deal nearly ruined America. You have to think for yourself, and don't depend on your teachers alone.
MrTugwit 5 months ago
One of my (past) teachers has 1 news article he hangs up that supports obama winning the presidential election. Should I call him out on his bias?
therealcapitalist 5 months ago
@therealcapitalist I wouldn't bother. Probably most teachers are liberals or progressives. They learn it from their teachers and college professors. It's no surprise that Bill Ayers ended up as a professor of education. It's more effective than setting bombs. And public school teachers are govt employees, and probably belong to the liberal NEA. They like Obama, because he's spending lots of other people's money on them.
What subject did he teach?
MrTugwit 5 months ago
@MrTugwit- Ok. If he use to be Republican, than he probably went senile.
therealcapitalist 5 months ago
@therealcapitalist Maybe that medal Obama gave him turned his head ;)
MrTugwit 5 months ago
@MrTugwit- Yes, central planners suck. Obama sucks, I realize that, but I don't see why on earth Warren Buffet supports him.
therealcapitalist 5 months ago
@therealcapitalist I don't know either. I have a video up called "Ask Bunker Bear: Warren Buffet, Taxes and Waste", that you might like.
MrTugwit 5 months ago
@MrTugwit- I'll look into that. Ron Paul sounds like he may be a good canditate for next election, although I don't know if legalizing drugs would be a "good" thing or a "bad" thing.
therealcapitalist 5 months ago
@therealcapitalist I don't agree with everything he says, but I like him. I'd like to see somebody rip the Fed. The moron central planners there are ruining us, and nobody seems to care about it.
MrTugwit 5 months ago
How on earth was FDR elected 4 terms?
therealcapitalist 5 months ago
@therealcapitalist Patronage. If representatives or senators didn't support him, no $ for their people. Just before elections he poured $ into key states and districts. The WPA became a political patronage machine. Some people hired by the WPA were required to kick back money to get or keep the jobs. The worse he made the economy, the better it worked. Take $ from the suckers, and buy votes. Read "New Deal or Raw Deal".
MrTugwit 5 months ago
Nearly a criminal... is there any Democratic presidents that you think is good?
therealcapitalist 5 months ago
No, I wasn't taught FDR saved America from a Great Depression. It's been a couple of years since American History, so I don't really know much about Harding. At least FDR help create parks.
therealcapitalist 5 months ago
@therealcapitalist FDR "created" some parks, and the TVA, and other stuff, but at the cost of huge suffering. The Okie cotton pickers in Steinbeck's "Grapes of Wrath", were forced to migrate to California, because the feds ordered millions of acres of cotton plowed under. The reference to the slaughter of the pigs, refers to the feds ordering 6 million pigs killed and used as fertilizer, while people starved. FDR was incompetent and nearly a criminal. Harding was much better.
MrTugwit 5 months ago
@therealcapitalist FDR "created" some parks, and the TVA, and other stuff, but at the cost of huge suffering. The Okie cotton pickers in Steinbeck's "Grapes of Wrath", were forced to migrate to California, because the feds ordered millions of acres of cotton plowed under. The reference to the slaughter of the pigs, refers to the feds ordering 6 million pigs killed and used as fertilizer, while people starved. FDR was incompetent and nearly a criminal. Harding was much better.
MrTugwit 5 months ago
@MrTugwit- Never mind, that question's irrelevant to the video.
But anyway, tea party sounds good. Haven't really seen much of that where I live though.
therealcapitalist 5 months ago
@therealcapitalist Different types can support the same ideas.
Q's for you:
The waste of FDR's New Deal central planning, prolonged and worsened the Great Depression.
Were you taught in school that FDR and the New Deal saved America from the Great Depression?
Did they ever mention the severe 1920-21 Depression, that was over in 18 months ... because Harding refused to intervene ... and decreased govt spending?
You don't have to answer. Just think about it.
MrTugwit 5 months ago
@MrTugwit- I've heard something about the bombing of Libya by president obama unconstitutional. Is that true?
therealcapitalist 5 months ago
@MrTugwit- So what you're saying about the tea party & libertarians is that's there's basically no difference, except people would view the tea party in a different perspective?
I'm lost.
therealcapitalist 5 months ago
@therealcapitalist I'm saying that I'm a libertarian conservative Tea Partier. Other Tea Partiers may be straight conservatives, or libertarians, or moderates, etc.
The common thread is that the Constitution is what protects our liberty and property from theft by politicians and freeloaders. And that bigger govt means more tax and waste, and less prosperity.
You can't even vote yet, and pols and freeloaders are stealing from you, and wasting your future earnings.
MrTugwit 5 months ago
@MrTugwit- Question- Is being a tea partier & a libertarian essentially the same thing?
And what's your take on the American jobs act?
therealcapitalist 5 months ago
@therealcapitalist I can only say why I support the movement. It's not exactly the same thing for everybody. There are commonalities.
People will waste unlimited amounts of other people's money. Tax is other people's money, and politicians waste lots of it, decreasing prosperity.
Politicians must be held in check by the Constitution, or they will use the law to plunder freedom and property (Fredric Bastiat).
Jobs Act takes $ from some and gives it to others, no net gain, and lots of waste.
MrTugwit 5 months ago
@therealcapitalist More on the "Jobs Act":
"New Deal or Raw Deal" by Burt Folsom, and "FDR's Folly" by Jim Powell, explain what happens when politicians gets into the jobs business, and how the resulting waste kept the Great Depression going until the New Deal central planning ended.
Look at how the 2009 Obama Stimulus was wasted. Less than 5% was on infrastructure.
And changing the words from "stimulus" in 2009, to "jobs" in 2011 makes no difference to anybody but a lawyer.
MrTugwit 5 months ago
@MrTugwit- Nice video. It's solid.
therealcapitalist 5 months ago
@YourFriendHerbie Hi, I'm a common leftist. I argue in terms of ad hominems, straw men and red herrings.
iflyboats 5 months ago
@YourFriendHerbie I didn't support Bush's egregious deficit spending and increased debt.
Does Bush's deficit spending then make it OK for Obama to increase the deficit spending and debt?
If Bush's deficit spending didn't keep us out of a recession, how does Obama's deficit spending get us out of a recession?
Buzz off.
MrTugwit 5 months ago
What I really enjoy are the constant admonitions against "central planning" when it's a centrally planned economy that is responsible for keeping the US economy afloat. I'm not interested in moving to China, nor am I interested in living in any totalitarian/socialist state. This constant Hayekian nonsense is a red herring to obscure the fact that we are giving more and more and more to the private sector at te expense of the poor and middle class.
I suspect you see no hypocrisy in the claim t
hermes369 6 months ago
@hermes369 Central planning is ruining the economy. "We" are "giving" more to the private sector? That's nonsense. The private sector funds everything.
MrTugwit 6 months ago
@MrTugwit To whom do you imagine received TARP?! Private sector?! Try China! What Central Planning there is is just as much private as it is public. The Federal Reserve is NOT a government entity. You know that, right?
hermes369 6 months ago
@hermes369 I can't tell what you are saying about TARP, private sector, and China. The Fed is part of the federal govt, created by Congress, controlled by laws from Congress, with Congressional mandates, and oversight, and board appointed by the Prez. The Fed says it is "independent within the govt". It's mandate to increase employment is part of the reason for the inflation, which it thinks will increase employment.
MrTugwit 6 months ago
@MrTugwit Good post. I earn a living, pay taxes that partially go to Statist polititans buying votes, and they say they are giving me something? HAHAHA. Ask any of these dolts what opportunity cost means?
Samshile 5 months ago
@Samshile And they're using you're money to buy votes. And the waste they cause decreases prosperity.
MrTugwit 5 months ago
Boring.....
hollywoodnun 6 months ago
@hollywoodnun So? You don't have to watch it ... or waste your time commenting on it ... or do you? ;)
MrTugwit 6 months ago
WTF! This is the biggest bunch of BULSHIT, I have EVER seen. "We cant afford Obamacare'"? GO FUCK YOURSELF YOU SELFISH PIECEOF SHIT!!. We can spend 2-3 times as much money for wars? FALSE WARS BASED ON LIES! GO PLAY IN TRAFFIC, you piece of shit.
As for Global Warming, IT IS OCCURING, if you doubt this your a DUMBASS. HOWEVER, it is NOT, I repeat NOT due to our polution BS..
xinecallaw 7 months ago
@xinecallaw You are irrational. Buzz off.
MrTugwit 7 months ago
XD sounds funny!!!!
dom90ish 7 months ago
Thom Hartmann gives a history on the true Tea Party
youtube.com/watch?v=9UiLZk2TE8k&feature=related
zouksesanet 7 months ago
@zouksesanet Hartman says Boston TP “revolt against corp power and corp tax cuts“. BS. It was against taxation without representation.
Boston TP irrelevant to today’s TP, but interesting case of stupid govt market interference.
Parliament gave East India Tea Company a monopoly. EITC had to sell to Colonies thru Brit middlemen, increasing tea costs. Parliament nearly taxed EITC out of business, losing out to Dutch competition. Tea Act cut EITC’s taxes, let them directly to Colonies.
MrTugwit 7 months ago
@zouksesanet BUT there was a hidden tax, which Colonists discovered. The decreased biz taxes lowered tea prices to less than Dutch tea, but if Colonists went for the low prices, they had to accept taxation without representation. They didn't. If not for that, Colonists would have gladly accepted lower tea prices.
Biz taxes are passed on to customers, as higher prices, fewer jobs. Govt waste of taxes helps cause recessions. Hartman was wrong.
MrTugwit 7 months ago
its ok all out of touch teabaggers will soon be to old to find there way to the poles and those who are simply ill informed will hopefully receive a goverment funded student loan so they to may get a clue of the reality of whats taking place in there own back yard and then these people will no longer have to look to cartoon to get there one sided political veiws and then make up their own mind about what the true agenda of all the parties really are.
freakystylie3k 7 months ago
NO SENSE OF BALANCE, YOU CAN'T TRUST ANY ONE ENTITY .
jjschu50 7 months ago
@jjschu50 That's why things should be left to "the market", and not handed to a few moron central planners in DC.
MrTugwit 7 months ago
@tom91775 First you said that central planners must step in to improve the competitive market. Now you say that central planning doesn't improve the competitive market or economy. Now we agree.
MrTugwit 7 months ago
@MrTugwit I really have no idea what this video is talking about. The country was run on the idea that government should stay out of business including the lack of labor laws. In fact after Coolidge the Republicans had a hard time finding someone to run for office knowing what was to come. Hoover took the job and most of the blame for the great depression. He was voted out because people were tired of the government doing nothing while the people suffered.
soulhunter59 7 months ago
@soulhunter59 You are correct with your 1st sentence. Compare the 1920-21 Depression, where the pols did nothing, to the Great Depression, where Hoover and FDR kept a depression going for a decade with deficit spending and central planning. 33 depressions had no govt intervention, ave 1-2 years, and then the 1st time govt intervention was tried was in 1929, and it resulted in the GD. Before people ask pols to "do something", they should ask how deficit spending and inflation cure depressions.
MrTugwit 7 months ago
@MrTugwit My whole post was correct and I think you underestimate the magnitude of the great depression. The whole world was in a state of depression and also most of the world was turning to alternative forms of government. Mind you that communism was very appealing at the time and if anything FDR's policies saved us from that. Not to mention we still use the infrastructure of that time period.
soulhunter59 7 months ago
@soulhunter59 I think you underestimate the magnitude of the 1920-21 depression, but Hoover and FDR's interventions would have made it worse too. So by turning the 1929 depression into the GD, FDR gets more credit as a hero? Real infrastructure fine. Where's our TVA from the Great Porkulus? How do waste, deficit spending, and inflation cure depressions? What magic do pols have for curing depressions?
MrTugwit 7 months ago
@MrTugwit Yeah you definitely underestimate the great depression. It took the spending power of a world war to break us from the depression which was nothing compared to the spending of the new deal. Not to mention that the resolution of 1920-21 depression did not help the middle to lower class. People were still spending everything they had just to sleep under a broken down roof.
soulhunter59 7 months ago
@soulhunter59 So the Dr. who makes his patient sicker, is a hero because his patient is sicker? FDR made the GD worse. Harding could have saved us from Bolshevism by ruining the economy too. When the 1920-21 depression was over, everybody benefited from the economic growth, and decreased federal debt.
The deficit spending of WW2 didn't end the GD. Death, destruction, and waste can't possibly bring prosperity.
But where's our TVA? How do deficit spending and inflation cure recessions?
MrTugwit 7 months ago
@MrTugwit The 1920s had their own problems and they were called gangsters. The crime rate skyrocketed during this time period. It was also the years when labor unions and woman's writes activists were at their peak. Between the attacks on unions and the victims of Al Capone the streets were stained with their blood. Now during WW2 unions agreed not to strike and everyone had a job including women. Haven't you ever seen a Rosy the riveter poster. Oh and the WAC, WAVES, ANC, NNC...
soulhunter59 7 months ago
@soulhunter59 So? If Harding kept the 1920 depression going for 10 yrs, would that solve Prohibition violence? Suppress crime with depression? ;) The solution to the chronic unemployment from FDR's bad policies, is to draft 12 Million into the service? Didn't Bush spend enough on wars to keep us out of a recession? Is that why BHO expanded 'Stan and added Libya?
But where's our TVA? Less than 5% of the Porkulus spent on infrastructure. How do pols cure recessions with borrowing and inflation?
MrTugwit 7 months ago
@MrTugwit First of all Democrats defeated the Nazis lets make that clear. As for the depression I bet there were no runs on banks and people didn't lose everything just because their bank folded. That's right the depression was so bad the banks were not safe. What the new deal and WW2 did was put people to work. They needed people to build weapons, tanks and so on. Everyone who wanted a job had a job thus the depression was over due to government spending. .
soulhunter59 7 months ago
@soulhunter59 In the 1920 depression, the Fed raised interest rates. The Fed started the GD by lowering interest rates and creating inflation to help the Bank of England. The GD bank runs were partly caused by the Fed decreasing the money supply by 35% from 1929 to 1932. The New Deal put people out of work by keeping prices high, creating Biz cartels to decrease competition, and mandatory unionization. And this stuff about WW2 deficit spending ending the GD is just plain nonsense.
MrTugwit 7 months ago
@MrTugwit The reason Iraq didn't help us in the face of recession was due to the lack of a draft and wasteful spending on private companies. Halliburton cheated the US government and caused the price of oil to sky rocket. If anything you can blame Bush for mismanagement of funds. As for you concerns about profiting from death and destruction you should know that is the biggest money maker of all. That's what big business does best.
soulhunter59 7 months ago
@soulhunter59 This baloney about deficit spending on war, and death and destruction being good for the economy is Keynesian nonsense. Keynes said earthquakes were good too ;) Completely absurd.
The deficit spending on WW1 helped cause the GD.
Wasteful spending on private companies? Do you want to nationalize them?
'Stan and Libya are good?
But how do pols cure recessions with deficit spending and inflation? What's the mechanism? That's the basic question of asking pols to "do something".
MrTugwit 7 months ago
@MrTugwit Dude at this point I think your just making stuff up off the top of your head. No historian will tell you WW1 caused the GD. They will say the results of WW1 caused WW2 but that's another issue. When it comes to private contractors of the Iraq war I say fire them both because they have done nothing more than nickle and dime your tax dollars. But let me ask you. How do you think WW1 started?
soulhunter59 7 months ago
@soulhunter59 WW1 trashed the real gold standard, and set up an unbalanced inflationary house of cards, especially in Europe, with unbalanced trade and gold flows. Inflation weakened European banks. A series of bank crises began in Austria, and spread to Hungary, Germany, and Britain. The US inflated to help out Britain in '24 and '27, accelerating our stock bubble. The house of cards eventually collapsed. Since you think I'm making this up, feel free to leave ... and don't come back ... Dude.
MrTugwit 7 months ago
@MrTugwit ...USMCWR, PHS, SPARS, ARC and WASP.
soulhunter59 7 months ago
@tom91775 A lot of people think central govt planning sounds good. My point is, you decide where to shop, not some DC bureaucrat. And you have said that govt must step in to increase competition. How are they doing that?
MrTugwit 7 months ago
@tom91775 If you really think central govt planning improves the competitive market and the economy, you should read some economics. If you don't like Walmart, McDonalds, Home Depot, and Microsoft, shop somewhere else. Do you think that adding the cost of high business taxes onto our own goods improves our competition with the rest of the world? But perhaps you are a Keynesian and believe in Santa Claus.
MrTugwit 7 months ago
Only a SMALL MINORITY even know that we have "Keynesian Economics". The very definition of that is "rigged capitalism with socialism thown in as a feel good tool". Even Bill O'Reilly the televison personality, a college graduate and former school teacher proved on the air he had never heard of Keynesian Economics. John Stossel had to explain that to him on the air, its on yourtube. Keynes was WRONG, it does not work, and we have reached the "Keynesian Endpoint". BB
5160RBB 7 months ago
@5160RBB Keynesian econ should be a key issue in the next election. I hope that word gets around about it, because I think most people would be shocked by it's stupidity. People should be asking their representatives about it by email and at town hall meetings. If your representative says he's a Keynesian, kick him out.
MrTugwit 7 months ago
Only a SMALL MINORITY even know that we have "Ketnesian Economics". The very definition of that is "rigged capitalism with socialism thown in as a feel good tool". Even Bill O'Reilly the televison personality, a college graduate and former school teacher proved oin the air he had never heard of Keynesian Economics. John Stossel had to explain that to him on the air, its on yourtube. Keynes was WRONG, it does not work, and we have reached the "Keynesian Endpoint". BB
5160RBB 7 months ago
This has been flagged as spam show
RON PAUL 2012!
"THE ONLY CANDIDATE!"
xXCrimsonVirtueXx 7 months ago
herp-a-derp
stjimmy933499399493 7 months ago
@stjimmy933499399493 Folks, this guy has just made a comment typical of what you get from quite a few clueless anti-Tea Party people.
MrTugwit 7 months ago
Yes that is ALL true!! That's the way it WAS. Wallace has always been a super liberal, so he didn't really listen to much of anything she had to say, he was trying to slip her up She put a screeching stop to him a couple of times. He was trying to one up her. He is a left wing guy I never cared for, but I have seen him a lot, for about 30 years the SOB was in the middle of everything CBS had. I used to like to watch that guy impersonate him on SNL, that was funny. BB
5160RBB 8 months ago
Check out the AYN RAND INTERVIEW WITH MIKE WALLACE that was filmed in February 1959. It's on youtube. She has several interviews on youtube, but the one with Mike Wallace, a BIG government fix it all guy. I would leave a link but I don't think this thing will let me. Very prophetic if you watch all segments. BB
5160RBB 8 months ago
@5160RBB Wallace obviously did not read "Atlas Shrugged". If altruism is demanded and commanded, it is not altruism. He was ignorant of what happened in Russia, of how Hoover and FDR's central planning extended the Great Depression for a decade, of the role of the Fed in creating and worsening the GD, and of the fact that the demise of the New Deal was what ended the GD. I don't think Wallace actually listened to anything she said.
MrTugwit 8 months ago
Yep, thats the whole problem with the whole thing. gotta go, BB
5160RBB 8 months ago
YES absolutely. One of these days, they are going to STOP taking our "hot checks". They are going to demand some kind of HARD money and we won't have any. So, the SWHTF. BB
5160RBB 8 months ago
check keiser on the edge" for today
5160RBB 8 months ago
Check the On the edge" today on youtube
5160RBB 8 months ago
Keynes and the gang like to throw all kinds of "equations" they invented themselves to support their theories. They "back out" of THEIR numbers like a crooked real estate appraiser. Start out with the answer you want and work the problem in reverse to make it work. The Austrian School relies on the human mind's concept of value. Even then, without a crystal ball, can't nail it always. I would rather throw their phony numbers out, and analyze the mind set & logic. Its a tough racket
5160RBB 8 months ago
@5160RBB In my videos I have looked at their algebra and logic. Their problem is that no matter how complicated they make the math, it's based on logic errors. More complicated math only makes it easier to hide the bad logic. It's like bankers using math they didn't understand, to show that the derivatives they made from junky loans were high grade investments. When Keynes said that math may not reflect reality, he wasn't warning against it, he was telling Keynesians how to pull the Big Con.
MrTugwit 8 months ago
Absolutely, the only amazing thing is, he keeps doing it, and so many people follow it. Even though the bus is going 100 MPH off a cliff, STILL a blind guy keeps driving. Yet so few people even notice. They call the Greeks note and they will default. Call the USA's note and it will default TOO. It's the bad dream that won't quit. BB
5160RBB 8 months ago
@5160RBB We are already defaulting with the inflation. "The Ben Bernank" is also in too deep to admit to incompetence. He was wrong about keeping interest rates low in 2003. And wrong or lying about the housing bubble and the condition of Fannie, Freddie, and the big banks. He tried to cover HIMSELF with inflation. And a lot of people thing the TURD is a hero. You can't make this stuff up! :D
MrTugwit 8 months ago
I'm sure you have noticed how they keep saying we are in a recovery, WHEN WE ARE NOT! It's like if they say it enough it will come true, sheesh, that would be the "Fairytale Approach to Economics". Well, they electronically "print" imaginary money, so I guess that fits right in there, BB
5160RBB 8 months ago
@5160RBB Yup. And the "Ben Bernank" saying there is no inflation, and at the same time trying to use it to cure unemployment, when the 1970's proved that it doesn't. And saying that he won't monetize the debt, while he monetizes not only federal debt, but the debt of private banks. You can't make this stuff up ;)
MrTugwit 8 months ago
I have been aware of Keynes for most of my life, but back about 16 years ago, I had to go back to college to "change careers" and I found out THEN and its the same NOW. In the US Keynes is called the Father or Modern Economics. It USED to be that Adam Smith was the "Father of modern Economics" you know, he wrote "The Wealth of Nations". Keynes had become PROPAGANDA, he was hailed as the genius that cracked the code, we would never have money troubles again!!! According to them. BB
5160RBB 8 months ago
@5160RBB He's the father of Fantasy Economics anyway. The guy is thousands of times bigger than Ponzi and Madoff. One of the biggest and longest running frauds in history. And STILL people want to believe in Santa Claus so much that the fraud continues. $787 Billion Obama Stimulus wasted on it. I'm sure that some of the academics know it's fraud, but they've built their careers on it, and can't back out without admitting that they are incompetent.
MrTugwit 8 months ago
It's like putting a multiplier to the weather. Pretty much the same thing. Too many variables and then factor in human nature that can turn on a proverbial dime. That "You must spend yourself in to Prosperity" line of his, did me in many years ago when I first heard of the guy. Spend yourself in to AUSTERITY is more like it. BB
5160RBB 8 months ago
@5160RBB I never heard of Keynes or the multiplier until a couple of years ago. Too busy working. I was shocked. I think most people haven't even heard of the turd most responsible for ruining the economy. Interesting too about what is called "austerity" now. Greeks riot in the streets to get us and the Germans to give them free inflation money. And guys like Obama with their fingers up their noses wondering why the price of gas, etc. is going up. You can't make this stuff up ;)
MrTugwit 8 months ago
Yeah your right, what I mean is it "works" to the "believers" but in the real world it is vry flawed. The more you mess with mother nature the worse you get it seems to me. Keynes and most everybody else are not smart enough to anticipate all of the "Unintended Consequences". However 1 thing is EZ to see. To throw money at one thing, you have to take it AWAY from somebody or something else. Printing money is the WORST. It robs savers and creditors. It robs everybody, BB
5160RBB 8 months ago
@5160RBB It's not just flawed, it's nonsense. Hilarious. You find YouTube videos talking about "the magic of the multiplier" and "something wonderful happens". And on the web, crap from a Drexel U. computational economics guy about "a surprising example". From Wellesley talking about how it seems that govt spending has only positive effects. From UC Davis saying that taking money from one guy and giving it to another increases GDP. All because of the nonsense multipliers. Just amazing.
MrTugwit 8 months ago
Keynes was just like Marx and Engles and the others, he can make anything work on paper. The real world is different. Paper does not take in to account the "Law of Unintended Consequences". Anybody that can make an argument for a "free lunch" will get an audience. I wouldn't mind getting something for nothing myself, except I know there is always a payback, always a cost LATER, BB
5160RBB 8 months ago
@5160RBB But Keynes' multiplier garbage doesn't even work on paper. The guy was just a conman, and the folks who teach Keynesian multiplier bullcrap in our universities are either frauds or incompetent. It's like in the Great Depression when FDR brought in the clueless New Dealers who had lost contact with reality, and kept the GD going for a decade. And it shows how bad our education system is, that students get suckered by Keynesian nonsense.
MrTugwit 8 months ago