With Barrack Obama's Stimulus Package, we are averaging 400k new jobs every quarter. Just this quarter we have created a total of 400k jobs. Plus we have already payed off 731.9B of the original 787B. You need to spend to get the economy rolling. Just sitting there and not spending money on the economy won't do anything. Yes the governments size increased, but what do you expect? We got into this mess because we did not have enough government regulation.
spending too much and borrowing too much is definitely right. ron paul doesn't want to borrow any more but he does want to increase the value of the debt that's out there which is a gift to the people who voted for all that borrowing.
@TOTCD The collapse of MF Global is the beginning, the hyperinflation is around the corner since the Fed continues to print money out of thin air. Right now we are in a stagnant bubble created by the Fed and once that bubble burst, we are all gonna feel the harsh effects. The reality of that is starting in Europe, our bubble is still in tact but like any bubble, they eventually pop. Thank you Bush and Obama.
@TOTCD Guessing is a fancy term for assuming. Making an ass out of you and me isn't a great way to predict a horrible future. But go ahead thats your opinion, it doesn't bother me.
@TOTCD The next 10 years points out our decline similar to Rome but it isn't fully addressing the problem. For us to last longer as a nation under the Constitution. Majority of Americans need to know the spirit of individualism and strong moral principles. That develops frugality and incentive to better yourself as a person and everybody is doing right for themselves and when they succeed, they bless others via charity. America once stood upon that but it has deteriorated.
the news anchor get ownd so he give ron paul a stupid question " how would you get to your perfect world" how the fuck can you ask that? ask obama that and ask bush and clinton! im not saying its unfair but think how you could make your perfect society. and of course many people allways look at the best way things will end
No one wants to face the consequences, they all want to pretend that their favorite politicians can centrally plan the economy into prosperity and it can't be done. As of today, June 12, 2011, the true US unemployment rate is around 15% or higher and likely to worsen as QE2 and stimilus and all the monetary alcohol wear off and the economy starts to deal with the hangover. Nothing Obama has done is original, Bush did it after he inherited the Clinton recession, it's just bigger and worse now.
Donald Rumsfeld Was on David Letterman last night, the last part of the guest appearance he spoke of Presidents from Ike Eisenhower on down to Obama... a must see about these men and in the end speaking of Obama... please watch this U tube short video.
Our spending is out of control... we cannot make it doing this. spending and printing paper.
Donald Rumsfeld - Known And Unknown *Interview (Feb.21/11) Part 2
Zealots, Fanatics, and Mayanophiliacs (real word? lol) believe something, presumably negative; will happen in 2012. For all these saps, yes Ron Paul winning will be the equivalent to a banking apocalypse. Because inevitably we will get real change... as Thomas Jefferson said: "Either by the Ballot [voting for paul] or by the bullet [possible collapse of U.S.]"
The rich should be 'Forced' to invest a greater % of their profits into their business's & creating new jobs...NOT speculating those profits on the stock market!
The government should tell those super rich corporations (particularly financial companies) that if they don't invest a greater % of their profit into their business each year & create a reasonable amount of new jobs per annum, that the penalty will be higher tax's!
That way we the public will for once be in a win-win position!
Hated by both the left AND right wing socialists. Loved by freedom seekers worldwide. In fact, Dr Paul is the ONLY republican or democrat that was picketed by the socialist party.
Harry Browne was also the only 3rd party candidate who made it on the ballot in all 50 states and was also the only 3rd party candidate that the socialist party protested.
I think it should be a prerequisite for all interviewers to at least do SOME homework on the topic/person they are interviewing. Instead of repeatedly asking questions that have already been answered, because they are too illiterate(topic wise) to understand.
Otherwise if the republican party can only come up with lame ass candidates like jindal or newt then I am sorry I will still vote for Obama unless a better or really good third party candidate comes out.
Let alone when you have people like tea party candidates like Sharon Angle or Joe miller they represent the worse ideology I have ever seen which is why I think they are horrible and will make things worse. If Ron Paul where to run against Obama I would vote for him cause he is the only republican that has ideas about the economy and real factual criticism of the president.
This is what I think a Republican should be and should represent themselves with a good argument when it comes criticizing Obama. You are not making sense calling Obama a socialist and coming up with conspiracy theories about birth certificates and religion.
Wow, what an answer he gives at 3:10! I was thinking it but I didn't think he would go there. It would be extremely difficult to do. America uses it's military to expand and stabilize it's economy. (This is ultimately what defines an empire.) You cannot cut back on military spending without severe consequences to the economy, and also major political instability around the world. It can't be done without UN help. And that may involve too much "globalization" for most Americans to support.
That is part of the problem if banks are trying to make money for the country by issuing debt, margin, some equity that isn't regulated properly instead of fucking production and increasing it domesticly ... put the money in capital investment you get there by cutting taxes and encouraging, and giving ppl confidence by correctly regulating the investment world - give ppl the confidence to invest in the capitalization of American companies and get the fuck out of these stupid wars put $inECONOMY
Did they really say that he didn't give an answer? What idiots! He specifically said to liquidate assets, and let the private sector buy up what was of value. He said to regulate the federal reserve and cut overseas spending. Are those not answers? Perhaps I need to look up the definition of an "answer".
in indiaiana every road you drive on is being repaved thanks to the stimulus. the problem is the current EPA director shut down 1 of only 2 factories that are lisenced to make highway paint. so none of our roads have strips. the contractors cant get paid until the job is done, and the jobs cant be finished until they get highway paint. i wonder how many contractors will go bankrupt waiting on paint?
@allend1980 Spending this money on road construction projects can't even be dignified with the term "band-aid". The pay is low, the employees needed are few, and the work is incredibly temporary and does nothing to stimulate future job growth or economic surplus. Not to mention most of the jobs will not go to Americans but rather illegal aliens, which actually sends a deluge of money OUT of our country instead of increasing its value with domestic spending.
@adrenas right on. i posted that a month ago, and we are just now getting roads painted. but in many cases the damage is already done. the government always likes to pretend that by building roads and bridges they are stimulating the economy, but it dosent. sure they are going in debt to put people to work, so they can buy things from china. stimulating their economy. if the government dosent do somthing to bring industry back here. so that we sell to the world, we will fall in to a depression
@allend1980 Yeah, they recently started one of those projects on the road I live on. A fairly new bridge that was in excellent condition was torn down to put up another bridge right next to it. The only thing this accomplished was taking a straight stretch of road and putting a sharp and sudden curve in it just before a cliff. Genius. Of course with armchair economists like aagraber it is no wonder we are in such a mess.
@adrenas i live right next to the famed elkhart indiana, and every road and bridge is being rebuilt. i wonder what will happen to all these long drawn out projects when the money stops flowing. its a shame they dont use some of that money for tax abatements to get factories to come back here and actually produce. we will have all these upgraded roads and bridges but no semis carrying our products to drive on them. dumb spending like this is why our states are broke and americans are unemployed
Obama....Osama.....hardly a freudian slip. Bin Laden has played us like a fiddle. We've done everything completely wrong in dealing with terrorism. We have a country of static reactionary idiots...listen to these clowns, they just don't get it.
absolutely agree with dr. paul. stop the american empire (wars in afghanistan and iraq) and maybe our deficit will return to normal. also these wars dont benefit americans except the wealthy CEOs.
@amarzola the smartest thing i ever heard was that when you break it down wars are only fought for 1 of 3 reasons race, religon, or money. the middle east fights over religon, europe fights over race and we fight for "American interest" i.e money. if we truley wanted to win any war that we have fought since WW2 we could have easily. short wars arent profitable enough, only long drawn out wars spark our "interest" the civil war, WW2, and the revolution all took under 7 years and we won them all
jerelfromthebay, you're an idiot, we are NOT in recovery. Our National Dept has increase 3.5 Trillion in the past two years of Obama's presidency. Unemployment rates continue to increase, the USD has not gained any value on the world market (luckily it has held), and small businesses are still shutting down, all signs of DEPRESSION. Keep taking your happy pills you tool.
jerelfromthebay, you're an idiot, we are NOT in recovery. Our National Dept has increase 3.5 Trillion in the past two years of Obama's presidency. Unemployment rates continue to increase, the USD has not gained any value on the world market (luckily it has held), and small businesses are still shutting down, all signs of DEPRESSION. Keep taking your happy pills you tool.
Right or wrong He sure knows about the economy. I cant imagine Obama would ever talk as smart as Ron Paul about this issue during a live interview with out his teleprompter.
Ron Paul is one of the very few men in our political system who has it right. I've been meaning to read his new book End the Fed. Also people should check out Alan Grayson of Florida. He's fantastic as well
At least Paul talks about the real issues while not having all the answers acceptable to everybody(who has?).Its a pity that he wasn't given more coverage before the last election.
His message is clear- less government spending is the answer )including and particularily on the overblown military.
His point that each dollar spent by government is a dollar less spent in the productive sector is particularily important.
Beerslave, the DJIA is over 10,000 because of all the costs companies are cutting back on from the excessive unemployment, it has nothing to do with the economy bouncing back. Even if Keynesian economics was correct (which it never will be), in its best-case scenario government spending would not even cause an increase in the stock market anyway. You don't judge the health of the economy from where the DJIA is. All you see is the malinvestment and valueless credit from the Fed's new bubble.
Shakespeare said: Neither a borrower, nor a lender be. a lesson in common sense .1.the first symptons of hyperinflation are a government cannot balance it's budget from tax and trade so it needs to borrow which only creates a vicious circle.2.printing money out of thin air ,that is not supported in the output of goods and services .why would any sensible gov cause hyperinflation ,to stop a depression,and in this way it does'nt look as though they have raised taxes ? legalised theft !
Well, you capitalists believe that as long as business is doing good, the people will (eventually) do good as well... (I think they call it trickle down.) The businesses are recovering, that means the people are soon to be recovering as well. Right?
I love how you capitalists get all communistic when it comes to proving yourselves right. What do you care about jobs? What do you care about 'the people'? It's business that rules the world... its money, it corporations, its free market.
Of course its trickle down, the free market is natural. You ever heard of anything trickling up in nature?
I'm not the smartest guy, but I'm fairly certain of one thing, I have a better chance of getting a raise if my boss has more money in his pocket than I do when he's broke. When he's broke, theres no chance of getting a raise.If the company does well, I do well, its that simple. I have never received a gov check and dont know anyone that has,so if they do well who cares
HAHAHA you eat Obama's words. How is spending more money going to fix anything? It can for a little bit but after a few years the debt will get piled up. History repeats itself because people like you let it. Stop being in denial.
the last seconds that prick says to obamas credit at least he is trying to move forward......... what a prick! they all were foaming at the mouth to nail Ron and they all seemed like a bunch of rotc in the room with a officer. the man is a genius
Obama is a fraud. He takes our tax dollars and spreads it out to all the stupid Union jobs around the USA. This is not what America needs. And to make it worst he says that he saved thousands of jobs with the stimulus money is a joke! This is not saving jobs, this is a major TAX and socialism at its finest. Obama should let us keep the money we make rather than give it out to the Unions and bureaucrats kissing his ass.
oh another fox news viewer! i wish you could see the documentary "outfoxed." try lookin up charts on the unemployment numbers in this country why dont you, we seem to be losing less and less jobs each month, but noo, that couldnt be from the stimulus could it? 9 police officers and 12 firemen (in my home town alone) were NOT layed off thanks to stimulus money . major TAX you say? are you aware a big percentage of the stimulus package was a TAX break? do you really get ALL your info from fox?
Your 9 police officers and 12 firemen are TAX JOBS. To stimulate the economy we need jobs from the private sector. We cannot afford their UNION dues and pensions. We need engineers and entrepreneurs, because with out them there will be no stimulus money. Unions bankrupt GM and CA and now Obama will bankrupt this country!
still a job isnt it? you'd count them as unemployed if they were laid off right? well whats your great idea of bringing jobs back to the private sector? your last president had 8 years of tax breaks for the rich, that didnt work, we were losing jobs at a record rate.. you know, except for this last year, you republicans had controlled congress for 12 YEARS straight? now the dems control congress for once and you all act so mad. if you guys did so good, youd still be in office dont you think?
we will be back in control in 2010 thanks to your party's reckless spending. and do you really think it should count as re-employment if the job is only temporary and the person becomes unemployed again when everything is done? there is a difference between "new" jobs and "additional" jobs.
hey i dont like spending so much money either, but ask yourself, why are we spending all this money? $878billion stimulus to fix a crumbling economy thanks to Bush policies, 11 billion a month in iraq thanks to Bush policies. you guys had your chance and the american people didnt like what they seen, the election wasnt even close, you guys doomed yourselves. and where were your complaints when Regan was quadrupling our debt? or when Bush was adding 4 trillion to the debt?
well, regan helped the economy. but, also, I am 16 so...yeah. i just do not think throwing money at the problem would solve it. i think cutting taxes would do better.
germanys the most unionized country we know of inall developed free nations. and theyre doin alright. unions arent so bad as long as they have limitations, the have to let the company compete.i can afford my benefits just fine and i like what i get for it too.and the company i work for makes billions a year(ups). you think everyone should have a job like walmart where you have no benefits at all?that would break our society down to a rich class, and a poor class.middle class would be wiped out.
Really... is that why all the indicators are showing that the recession is ending. And don't talk to me about unemployment. That is always the last indicator to turn around.
@aagraber45 R u serious?? Please indicate to me what "indicators" are showing that the recession is ending? We have more foreclosures now more than ever. All of our american jobs are being sent abroad or taken by foreigners thanks to the wonderful H1B visas. You go ahead and let them tell you everything is all better. Our country is bankrupt! R u blind??
@lamiac2411 : Well.... actually the recession has officially been over for a while now. Additionally, we have had positive job growth for a few months. As opposed to losing 800,000 jobs a month about a year ago. Also, manufacturing has grown for the 9th straight month, growing at a rate not matched since 2004. Consumer confidence rose from 46 in Feb. to 52.5 in March. The stock market has rallied. Truckers, rail, and other transportation companies are seeing demands grow.
@aagraber45 Really? And what indicators would those be? You had plenty of space to list some but you didn't. What THAT indicates is that you don't know shit. Reduction of unemployment is ALWAYS the first step to economic recovery. Stop talking like you have knowledge on the subject, because I have a degree in economics and I can say with complete certainty that you have no clue about what is going on.
@adrenas : Ok.... so tell me "MR CAREER ECONOMIST." What marks the end of a recession? What is the technical end of a recession?
Also, how many jobs were we losing at the peak of the recession? Let me help you... it was around 900,000 jobs a month. Now we have positive job growth, as opposed to losing 900,000 jobs a month. I would say that is a positive indicator.
I cannot believe you are an economist and do not know that the job numbers are a lagging indicator.
@aagraber45 To say that a recession has somehow ended because of a very very small positive fluctuation in numbers due to the pumping of artificial fiat currency adding drastically to the national debt is an absurd statement. Not to mention it drastically reduces the worth of the dollar. It's like giving a crack head in withdrawal more crack, he feels better after a hit of smack, and then you tell him there ya go ur all cured. U haven't fixed nething, his crack addiction is still there
@lamiac2411 : Positive GDP and positive job growth for months and months, after a complete downward death spiral is not, "very very small." Oh.... so you would be rather still be losing 700,000 jobs a month, like when Bush left?!?! The total collapse of the financial industry and car manufacturing industry would have done JUST WONDERS for the economy!!!!!
No... what is down right absurd in comparing macro economics to a crack addiction. Silly comparisons to prove silly ideologies.
@aagraber45 Actually they are fairly easy to dispute. Because those numbers do not include the mass amounts of part time or underemployment that exists. Do u know what underemployment is?? It's something around %60-%70 of the people who have jobs currently experience. Take a peak at that housing market! Still think the recession is "officially" over?? Look ne1 can look at these bullshit numbers heavily manipulated by the government, or you can look at what the hell is goin on around u.
75% of "GDP" is calculated FROM SPENDING, and the GDP is not indicative of anything. it is a fabricated number spun by government to serve as propaganda to fool us into perceiving that the economy is healthy so we will continue borrowing and spending beyond our means.
@milkmandan77 : OF COURSE GDP IS CALCULATED FROM SPENDING! Do you suppose we should measure economic growth and output by evaluating fat ass Rush Limbaugh's weight fluctuations?!? GDP is calculated with Consumption, Investment, Government Spending, and net exports. To say it is "not indicative of anything" is wrong. Sorry.
GDP is not the only economic indicator trending in a positive direction. Many economists believe the recession ended in 2009.
"OF COURSE GDP IS CALCULATED FROM SPENDING!" don't you find a problem with this, that our economic output, our "product," is spending? shouldn't one's "product" be WHAT THEY PRODUCE? if GDP is indicative of anything, it is how unsound the structural underpinnings of our economy are. "many economists believe the recession ended in 2009," and they currently work for MSNBC. obamanomics is a huge failure, because his advisors still subscribe to keynes instead of the austrian school.
@milkmandan77 : So what do you suppose drives output if not spending? Also, GDP is not just calculated by spending. Exports are a big reflection of the health of our economy as well.
Surely you are not trying to say that the economy has not improved from a year/ year and a half ago?!?! Please tell me you do not believe that.
@milkmandan77 : Um... you are wrong when you say "and they currently work for MSNBC." I know that the MSNBC card is the easy rebuttal for you Neo-cons... but it is just plain wrong.
"Most members of the National Bureau of Economic Research's Business Cycle Dating Committee have said the recession probably ended in mid-2009, when several key economic indicators reached their trough and the economy started growing again." April 13th, The Wall Street Journal
@milkmandan77 : Awww yes... I love this keynes/austrian school debate. I suppose your next comment will liken Government spending to breaking a window. The broken window fallacy is itself a silly, trite argument. Silly metaphors for silly ideologies. Government spending is not a window. Cash for Clunkers was not like a pond or breaking a pencil. Taxes are not equal to a classroom full of kids.
Ok... so answer me this. What ended the Great Depression?
@milkmandan77 : Also, I can point to entire cities built on Government spending. Boulder City and in turn Vegas where built on the keynesian principals. People were driving from all over the country and sleeping in their cars to work at the Hoover Dam. So this idea that Government spending cannot stimulate the economy is silly.
but we are now in a position where it is impossible to pay back the $ that was borrowed and spent. that "entire cities were built on government spending" is not a valid argument in favor of government spending. that's like saying 'my entire wardrobe and den was financed by credit card,' after i lost my job a year ago. aww yes, i LOVE you keynesians who believe all is good, when the entire economy is in the process of crashing with a major depression headed our way.
@milkmandan77 : "Entire cities were built on government spending" is not a valid argument for government spending? Um.... sure it is..... Government spending stimulated the economy to the point that cities were built (Boulder City) and other cities (Vegas) also thrived, due to the spending. And that is due to ONE project!
"That's like saying 'my entire wardrobe and den... " Sorry, but they have ABSOLUTELY NOTHING to do with each other. More silly metaphors to support silly arguments.
@milkmandan77 : Oh... and in case you didn't hear the research organization that officially marks the end of recessions stated Monday that the recession ended in June of 2009. So we went from a total downward death spiral in 2008, to stabilizing the economy and ending the recession by June of 2009.
@milkmandan77 : Why don't you tell me who the organization is?!?! Do you have any idea?! I am guessing NO and you are just talking out of your neo-tard ass, suggesting that NBER is involved in some "Government conspiracy." Go watch some more Glenn Beck..... it's doing a bang up job educating you thus far.
YOU my friend are the idiot. You have completely abandoned talking about any facts or numbers and are left with dumb, "stalin and lenin" statements. Sorry... facts are facts.
LOL. idiots bush and obama injected TRILLIONS in phony money into the economy. of course things look like they are improving. but this is only short term, because the unsound structural underpinnings in our economy are still the same. and as for groups like the NBER, wiki says they "disseminate unbiased economic research among public policymakers, business professionals, and the academic community." yeah. no corruption or fraud in THOSE circles. boy have YOU got a lot to learn!
@aagraber45 LOL. please. like YOU have the answer? you don't know anything so far as i can tell. you are probably one of those chinless sheep that believes the revisionist version of history that claims the government ended the depression. the government CAUSED the depression, and THE PEOPLE ended it through savings, investment, production, and enduring poverty for a decade. the government has no answers, no solutions. the only tactic they have is spending our great-grandchildrens' money.
@aagraber45 It wasn't the New Deal if that is the answer you want. And, 99% of Democrats today are more like Dewey Long. FDR and Dewey Long were both Democrats, but Dewey wants to tax the rich really, really high and distribute the wealth to the poor. Sounds like Obama doesn't it! What got us out of the Great depression was actually World War 2. Hard to believe, I know but it is a fact.
@101uspatriot : Actually WWII was the answer I was looking for. So what was WWII? Can you say, "massive amounts of government spending?!?" So this line that government spending can in no way stimulate the economy is silly.
Going back to the tax rate during Clinton is not "really, really high." You know.... back when we actually had a surplus.
@milkmandan77 : It is going to be a slow recovery overall. The country is not going to go from a economic death spiral to total prosperity for all, over night.
Rome WAS burning, until policies were put into place to put the fire out.
@aagraber45 Just because Mayor's are rushing to build a damn Wal-Mart in every damn town in America so they can say they added a few thousand jobs since they have been in charge means nothing. It's all for political gain. We all know these job's are of extremely low quality and pay far from a living wage. You won't buy a house any time soon stocking shelves at wally world. The people without job's isn't the only problem, every1 is fucking under employed. $8.75 an hour will get u nowhere
@aagraber45 Well I don't know what your comment is in response to but a long economic crisis can have short spurts of prosperity but kicking the can down the road has never been a good policy. "Too big to fail" is not okay and, the way the government works, they will let people get away with theft again and again until the collapse is permanent.
@aagraber45 Hello, I am a career economist. You have no idea what you are talking about. None at all. There are no "indicators" that the recession is ending, stop regurgitating your spoonfed garbage. FYI a decrease in unemployment is THE FIRST STEP to ending a recession or depression. So, don't talk to us at all because you are a moron. Thank you buh-bye.
GDP is positive and has been for some time now. Average hourly earnings have risen. Consumer confidence was recently at the highest rating in 2 years. The average hourly workers hours are increasing. The national unemployment average dropped. Freight demand from the transportation industry is on the rise. S & P's home price index showed it's first annual increase in 3 years. The manufacturing index expanded for the 11th straight month.
@adrenas : You are no economist moron. You don't even know what officially ends a recession. "There are no indicators that the recession is ending." Because, officially, IT IS OVER!
@aagraber45 Really? I have 4 years of college that say I am. You are just randomly spitting out numbers as premises with no relationships drawn to effect on the economy. Many of your numbers are also wrong. And you don't know when a recession is ending until it is over and this one isn't nearly over. Keep getting spoonfed garbage though, moron.
@adrenas : So why don't you tell me what "numbers are wrong."
Yes.. NBER usually takes a LONG time after the end of a recession to call it. So say 18 months after the official end they will say.... "oh btw, the recession ended 18 months ago." Many economist are saying that the recession ended around July 2009.
Jobs are always a lagging indicator. Businesses aren't confident enough to hire. People have been saying the unemployment rate would top 10% for months now. Take this into consideration, at the height of the economic "crisis",as some have called it, the economy was losing jobs at about 800,000 a month. Now the economy is losing about 200,000 a month. Granted that is a lot of jobs but recoveries take time. However, we averted a depression. And yes, the economy grew by 3.5% last quarter.
i understand this concept but you got to wonder if pumping well over a trillion dollars into the "economy" help inflate it for a lil while? maybe it stimulated wall streets numbers but next year several economists are predicting that a third of americans will be underemployed or unemployed. you just cant buy up bad assets and save freddie and fannie who created the house bubble with their subprime mortgages and then bail them out. you ever think that some of these" govt" economists are right?
the risk was too great..depression--or bail out banks so hopefully the economy didnt crash. and last i saw, theyre paying us back.i dont know about you but i rather bail out some big banks instead of standing in a soup linethis christmas. do you think it was coincidence that our monthly jobless rate started declining after the stimulus passed? the dow was so low at 6,626, now its 10,328. you need to lay off fox news, and start watching a variety of networks. check out the documentary "outfoxed."
whos paying us back? lol how? with more tax payer backed govt bullcrap such as the health care reform ?who do you think will be paying for this crap? you seriously need to quit drinking their kool . aid bro! anyway the end result is total economic failure. man inflation is so cool
banks are paying us back bud. how? banks are making profits again. thats how. even your republican pals like john boehner and mcconnel were upset about it b/c obama was spending THE paid back money on other thing (which i disagree with) but they probably didnt they tell you that on fox news! your the one dinking the kool aid when you watch Fixed News.. And health care reform is Supposed to lower our deficit, BUT only time will tell whether or not it does. i dont know the answer to that, nor do u
Its always the republicans who argue for less regulation, but by what Clinton later called one of his biggest mistakes,he deregulated the financial market more than anyone before him.This happened Oct. 22, 1999 after an agreement between congressional republicans and clinton to repeal the Glass-Steagall Act of 1933. The proposed Financial Services Modernization Act of 1999 would do away with restrictions on the integration of banking, insurance and stock trading imposed by the Glass-Steagall Act
Oh dont get too witty now.Ron Paul is also the same guy who said, "the stimulus package would turn the recession into a depression." that shows how much he knows about economics b/c last i checked the markets at 10609, it was just last March the market was at 6500.Not to mention the unemployment rate is declining Every month now, when just a year ago we were losing 700,000+ jobs month. Seems to me like the stimulus is working.Them market numbers are no coincidence.Things are getting brighter!!
yes both parties are well bought into by lobbiests but republicans are more bought than any. perfect example of this is evident in the ongoing health care debate. These congressmen on both sides, have been for years, getting paid by health insurance companies and pharmaceutical companies. It is them that DONT want americans to have affordable coverage and cheap medicines. look how much revenue these companies have: Aetna$30.9B UnitedHealth$80.1B Aflac$15B MetLife$44.7BILLION. (source: wikipedia)
i understand banks caused the problem. we're not rewarding, they are paying us back. what you dont understand is, you say these banks should have been eliminated. first off, if you research the great depressing, go ahead google 'great depression wiki', major bank failures was the first of the meltdown. second, how do you eliminate them?there were no other banks to take their place, they were the BIG banks. the bail out is a loan. pure and simple. youre delusional to say this is a fake crisis.
rog17.. youre a sick person. my view of history is superb, and yours, im afraid is just not all there. its pointless to debate with you, youre so lost its obvious to me ill never convince you of anything so im not going to waste my time, also because i hate how youtube has this "Remaining Character Count" thingy and i can never get everything out that i want to say before i run out of space to type it. also one other thing, US GDP=$14T US Debt=$-12T you say we gave the banks $24T?u r lost
you know what else.who was president when the great depression occured?R-coolage. who was president after coolage? R-hoover. rog17 the grt depression lasted for nearly a decade untill finally a democrat FDR took office and stopped the depression with the 'spending' of money on the 'New Deal' and the 'spending' of money on WWII. rog the Fed is alright as long as the republicans arent asking for less regulation all the time. although ill note, clinton deregulated too but later said he was wrong.
Uhhhh... No. "Coolage" was not president when depression hit. Hoover was. And it did not last for a decade until "finally" FDR took over and spent our way out of it. The depression began in late 1929. Hoover cranked up government spending and works projects. Still, the depression raged on. "Finally" FDR was elected 3 years later in 1932. He continued to crank up government spending and works projects, and still the depression raged on for another decade.
Ok Im sorry, Coolage left office March 4, 1929, and the market crashed October 29, 1929(start of the depression). Regarless of that, the republicans held the presidency from 1921 all the way until 1933.They were in charge then, and they were in charge for 8 years leading up to the 'great recession'. And let me correct you this time,FDR was "Finally" elected March 4, 1933,not 1932. and Hoovers Public Works project didnt come till his last year, which FDR adopted and expanded upon in The New Deal.
No, no, no. Let me correct you: FDR was not elected 3-4-1933; he was inaugurated then. He was elected in 1932. But more to the point, you tried to make it sound like the republicans presided over the depression for a decade, doing absolutely nothing until "finally" FDR came in a "decade" later and saved the day. Simply not true. And it's not "coolage." It's "Coolidge." Hoover started cranking up gov't spending/works in 1930. And it doesn't necessarily take a long time to...
...turn a depression around. Simply read about the depressions/panics of 1873, 1893, and 1907. None raged on for a decade... and none had massive gov't intervention trying to artificially keep the economy shielded like the Hoover and FDR administrations did. Look, whether the New Deal helped or hurt the depression is a contentious issue, and you're welcome to your opinion, which I obviously disagree with. But please, at least try to get your facts and timelines straight.
@gabegx Not to mention the recession of 1920 that was over in one year because the federal government cut back the total budget by 30%. Everything the Keynesian school has done historically has only exacerbated the problems.
@gabegx Considering that the central banks and regulators were all brought in to prevent these catastrophes and have proven time and again that they are powerless to do so, why keep sending them our money? '70's energy crises, 80's savings and loan crises, 90's dot com bubble, and today, real estate bubble.
Your wrong ,,, unemployment is its highest in 25 years and by the end of 2010 all that fake Obama money is gonna be gone and all those states that hired people with it are gonna lay all of them off and be in worse shape than ever. It was a democrat quick fix which never is long term nor is thought through. Typical dem thinkin
No you're wrong. Firstly, the stimulus will be paid out over 2 years so it won't be gone by the end of the year. Secondly, without the money to the banks, automakers, and to states many states would have have serious budget pitfalls and unemployment would be far higher than 10.2%. His decisions weren't political they were the suggestions of just about every economist in the country. Don't let politics cloud your mind from the facts.
Excuse me, I thought you said 2009. You were right about the time limit. But the expectation is that the economy will begin to support itself on its own so there won't be any layoffs. That's how it is supposed to work in theory and I have scene no reputable evidence that points to anything contrary to that notion.
you're an idiot. you're no looking at the figures right. the economy grew 3.5% from what? from the highest lows in decades? Do u have any idea what inflation is and the serious consequences were facing with the permanent devaluation of the dollar? u havent even seen the outcome yet and you're already celebrating. How naive and retarded some people(namely you) in this country can be shocks me sometimes
Oh shut up, no ones celebrating anything. I am stating the facts as they are. Folks like you are the real idiots. You hold on to your bullshit ideology and would allow the country to see more economic losses because of it. Of course there will be negative consequences. But as we have seen, the cost of doing nothing time and time again outweigh the cost of intervention. There is no celebration here there is only the realization is that people like you should keep their mouth shut!
MY bullshit ideology? You're the dipshit sayin "we cant just do nothing. doesnt matter if its obviously the wrong thing. we have to do something. yeah "doing something" is why we had a great drepression rather than a small recession in the 30's genious. Government interference with the free market is stemmed from special interest groups that lobby the government. what u end up with is economic fascism. you cant see that what caused this crisis to begin with was govt intervention. YOUR'E BLIND
Uh huh and your solution would be?????. Hate to break it to ya but that does not work. Everyone always wants simple solutions to complex problems. I always hear this..."if we simply did this instead of this". It doesn't work that way. This problem was caused by a lack of regulation, so in that sense a lack of govt. oversight caused it. So spare me your small govt. sermon, I've heard it all before. You're wrong about the depression.You're a fucking moron and I don't have time you.
no one said there was a simple solution except the people that want to print, print, print and spend spend spend. You cut spending and dont encourage irresponsible behavior by propping up bad companies with taxpayers money. Dumbasses like u preach a Mugabe styled monetary plan
I see the light now, suddenly I realize that saving these irresponsible firms was the wrong thing to do...ah yes, we should have allowed them all to go under dragging the world economy with them. Morons like you preach these market theories and principles that hold true in most cases but not all. So your plan would have been to allow all those companies to fail, and permanently destroy the American economy? LMAO!!! that is a great idea! You should be Treasury Secretary cause you're so smart :)
ron paul for president! greetings from germany!
TheZnipR 1 week ago
Ron Paul 2012
RichHartford74 1 month ago
This has been flagged as spam show
With Barrack Obama's Stimulus Package, we are averaging 400k new jobs every quarter. Just this quarter we have created a total of 400k jobs. Plus we have already payed off 731.9B of the original 787B. You need to spend to get the economy rolling. Just sitting there and not spending money on the economy won't do anything. Yes the governments size increased, but what do you expect? We got into this mess because we did not have enough government regulation.
skatertrix411 1 month ago
5:30 you can tell the liberal nutcases get owned
Jacoby515 1 month ago
why is ron paul not president he and austrian economists know so much more than krugman and his keynes disciples who have made a huge mess of things.
davidmaren2000 4 months ago
spending too much and borrowing too much is definitely right. ron paul doesn't want to borrow any more but he does want to increase the value of the debt that's out there which is a gift to the people who voted for all that borrowing.
andrelebaron 5 months ago
Ron Paul's answer to everything is.
Smaller gov't, get rid of income tax, get rid of business tax.
I don't want to get revenues.
Man this guy is really not going to win.
Ron Paul supporters really need to join TYT.
And listen to Cenk Uygur.
Ron Paul won't get you anywhere
TOTCD 5 months ago
@TOTCD yeah and the stimulus did it's job, keep us below 8 percent unemployment.
Jacoby515 1 month ago
@Jacoby515 You're right it didn't.
And where is that depression Ron Paul said would happen?!
TOTCD 1 month ago
@TOTCD The collapse of MF Global is the beginning, the hyperinflation is around the corner since the Fed continues to print money out of thin air. Right now we are in a stagnant bubble created by the Fed and once that bubble burst, we are all gonna feel the harsh effects. The reality of that is starting in Europe, our bubble is still in tact but like any bubble, they eventually pop. Thank you Bush and Obama.
Jacoby515 1 month ago
@Jacoby515 We'll see about that friend.
We'll see about that.
My guess is we're headed towards a recovery.
And there won't be a another crash anytime soon.
TOTCD 1 month ago
@TOTCD Guessing is a fancy term for assuming. Making an ass out of you and me isn't a great way to predict a horrible future. But go ahead thats your opinion, it doesn't bother me.
Jacoby515 1 month ago
@Jacoby515 Okay I suggest you read
' the next decade ' by George Friedman.
And 'the next 100 years' by George Friedman.
I'm not trying to make an ass out of you.
TOTCD 1 month ago
@TOTCD The next 10 years points out our decline similar to Rome but it isn't fully addressing the problem. For us to last longer as a nation under the Constitution. Majority of Americans need to know the spirit of individualism and strong moral principles. That develops frugality and incentive to better yourself as a person and everybody is doing right for themselves and when they succeed, they bless others via charity. America once stood upon that but it has deteriorated.
Jacoby515 1 month ago
@Jacoby515 I also believe that liberty and individualism and strong moral principles are the key to maintain American greatness.
But I don't agree with you when you say decline?!
Power is relative. Heck the US has been declining ever since the 60's.
The Soviet Union was supposed to bury us.
The Japanese super-state was supposed to surpass us and be the next big thing.
Now it's China and India. We need to maintain our republic. And stop listening to outsiders about the 'decline' of America
TOTCD 1 month ago
Bring back Ron Paul!!!
KCCLARK103 6 months ago
Bring back ron Paul!!!
KCCLARK103 6 months ago
the news anchor get ownd so he give ron paul a stupid question " how would you get to your perfect world" how the fuck can you ask that? ask obama that and ask bush and clinton! im not saying its unfair but think how you could make your perfect society. and of course many people allways look at the best way things will end
lokalkakan 7 months ago
No one wants to face the consequences, they all want to pretend that their favorite politicians can centrally plan the economy into prosperity and it can't be done. As of today, June 12, 2011, the true US unemployment rate is around 15% or higher and likely to worsen as QE2 and stimilus and all the monetary alcohol wear off and the economy starts to deal with the hangover. Nothing Obama has done is original, Bush did it after he inherited the Clinton recession, it's just bigger and worse now.
elnik32 7 months ago
He's says alot and nothing at the same time..
melskilove 9 months ago
Bush= dumb ass
Obama= Biggest dumb ass
101uspatriot 9 months ago
Donald Rumsfeld Was on David Letterman last night, the last part of the guest appearance he spoke of Presidents from Ike Eisenhower on down to Obama... a must see about these men and in the end speaking of Obama... please watch this U tube short video.
Our spending is out of control... we cannot make it doing this. spending and printing paper.
Donald Rumsfeld - Known And Unknown *Interview (Feb.21/11) Part 2
onstageagain 11 months ago
@2:00: You're crap then corrects himself to You're correct. hahaha
Kahrdis 1 year ago
Zealots, Fanatics, and Mayanophiliacs (real word? lol) believe something, presumably negative; will happen in 2012. For all these saps, yes Ron Paul winning will be the equivalent to a banking apocalypse. Because inevitably we will get real change... as Thomas Jefferson said: "Either by the Ballot [voting for paul] or by the bullet [possible collapse of U.S.]"
quidnick 1 year ago
Anyone who hears Ron Paul speak, and thinks that he SHOULDN'T be president, is CLUELESS!!! Ron Paul 2012!!!
Thycid 1 year ago
The rich should be 'Forced' to invest a greater % of their profits into their business's & creating new jobs...NOT speculating those profits on the stock market!
The government should tell those super rich corporations (particularly financial companies) that if they don't invest a greater % of their profit into their business each year & create a reasonable amount of new jobs per annum, that the penalty will be higher tax's!
That way we the public will for once be in a win-win position!
12235117657598502586 1 year ago
Hated by both the left AND right wing socialists. Loved by freedom seekers worldwide. In fact, Dr Paul is the ONLY republican or democrat that was picketed by the socialist party.
Harry Browne was also the only 3rd party candidate who made it on the ballot in all 50 states and was also the only 3rd party candidate that the socialist party protested.
Anyone that the socalists hate, I like.
mrearlygold 1 year ago
I think it should be a prerequisite for all interviewers to at least do SOME homework on the topic/person they are interviewing. Instead of repeatedly asking questions that have already been answered, because they are too illiterate(topic wise) to understand.
ragnarocks0 1 year ago
Ron Paul is right again.
parish32 1 year ago
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rog17s 1 year ago
Otherwise if the republican party can only come up with lame ass candidates like jindal or newt then I am sorry I will still vote for Obama unless a better or really good third party candidate comes out.
HERRER21 1 year ago
Let alone when you have people like tea party candidates like Sharon Angle or Joe miller they represent the worse ideology I have ever seen which is why I think they are horrible and will make things worse. If Ron Paul where to run against Obama I would vote for him cause he is the only republican that has ideas about the economy and real factual criticism of the president.
HERRER21 1 year ago
This is what I think a Republican should be and should represent themselves with a good argument when it comes criticizing Obama. You are not making sense calling Obama a socialist and coming up with conspiracy theories about birth certificates and religion.
HERRER21 1 year ago
How come Ron Paul is the only politician who knows this basic of economic(or has the guts to stand up for it)?
tcampbellla 1 year ago
Wow, what an answer he gives at 3:10! I was thinking it but I didn't think he would go there. It would be extremely difficult to do. America uses it's military to expand and stabilize it's economy. (This is ultimately what defines an empire.) You cannot cut back on military spending without severe consequences to the economy, and also major political instability around the world. It can't be done without UN help. And that may involve too much "globalization" for most Americans to support.
brilliantpseudonym 1 year ago
@brilliantpseudonym : Yeah... because fighting two wars in Iraq and Afghanistan did a bang up job stabilizing our economy.
aagraber45 1 year ago
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brilliantpseudonym 1 year ago
That is part of the problem if banks are trying to make money for the country by issuing debt, margin, some equity that isn't regulated properly instead of fucking production and increasing it domesticly ... put the money in capital investment you get there by cutting taxes and encouraging, and giving ppl confidence by correctly regulating the investment world - give ppl the confidence to invest in the capitalization of American companies and get the fuck out of these stupid wars put $inECONOMY
seanth014 1 year ago
biggest mistake America made last election is not making this man President....
seanth014 1 year ago
Did they really say that he didn't give an answer? What idiots! He specifically said to liquidate assets, and let the private sector buy up what was of value. He said to regulate the federal reserve and cut overseas spending. Are those not answers? Perhaps I need to look up the definition of an "answer".
DJRavek 1 year ago
in indiaiana every road you drive on is being repaved thanks to the stimulus. the problem is the current EPA director shut down 1 of only 2 factories that are lisenced to make highway paint. so none of our roads have strips. the contractors cant get paid until the job is done, and the jobs cant be finished until they get highway paint. i wonder how many contractors will go bankrupt waiting on paint?
allend1980 1 year ago
@allend1980 Spending this money on road construction projects can't even be dignified with the term "band-aid". The pay is low, the employees needed are few, and the work is incredibly temporary and does nothing to stimulate future job growth or economic surplus. Not to mention most of the jobs will not go to Americans but rather illegal aliens, which actually sends a deluge of money OUT of our country instead of increasing its value with domestic spending.
adrenas 1 year ago
@adrenas right on. i posted that a month ago, and we are just now getting roads painted. but in many cases the damage is already done. the government always likes to pretend that by building roads and bridges they are stimulating the economy, but it dosent. sure they are going in debt to put people to work, so they can buy things from china. stimulating their economy. if the government dosent do somthing to bring industry back here. so that we sell to the world, we will fall in to a depression
allend1980 1 year ago
@allend1980 Yeah, they recently started one of those projects on the road I live on. A fairly new bridge that was in excellent condition was torn down to put up another bridge right next to it. The only thing this accomplished was taking a straight stretch of road and putting a sharp and sudden curve in it just before a cliff. Genius. Of course with armchair economists like aagraber it is no wonder we are in such a mess.
adrenas 1 year ago
@adrenas i live right next to the famed elkhart indiana, and every road and bridge is being rebuilt. i wonder what will happen to all these long drawn out projects when the money stops flowing. its a shame they dont use some of that money for tax abatements to get factories to come back here and actually produce. we will have all these upgraded roads and bridges but no semis carrying our products to drive on them. dumb spending like this is why our states are broke and americans are unemployed
allend1980 1 year ago
Obama....Osama.....hardly a freudian slip. Bin Laden has played us like a fiddle. We've done everything completely wrong in dealing with terrorism. We have a country of static reactionary idiots...listen to these clowns, they just don't get it.
pretorious700 1 year ago
absolutely agree with dr. paul. stop the american empire (wars in afghanistan and iraq) and maybe our deficit will return to normal. also these wars dont benefit americans except the wealthy CEOs.
amarzola 1 year ago
@amarzola the smartest thing i ever heard was that when you break it down wars are only fought for 1 of 3 reasons race, religon, or money. the middle east fights over religon, europe fights over race and we fight for "American interest" i.e money. if we truley wanted to win any war that we have fought since WW2 we could have easily. short wars arent profitable enough, only long drawn out wars spark our "interest" the civil war, WW2, and the revolution all took under 7 years and we won them all
allend1980 1 year ago
jerelfromthebay, you're an idiot, we are NOT in recovery. Our National Dept has increase 3.5 Trillion in the past two years of Obama's presidency. Unemployment rates continue to increase, the USD has not gained any value on the world market (luckily it has held), and small businesses are still shutting down, all signs of DEPRESSION. Keep taking your happy pills you tool.
nedandrathal 1 year ago
jerelfromthebay, you're an idiot, we are NOT in recovery. Our National Dept has increase 3.5 Trillion in the past two years of Obama's presidency. Unemployment rates continue to increase, the USD has not gained any value on the world market (luckily it has held), and small businesses are still shutting down, all signs of DEPRESSION. Keep taking your happy pills you tool.
nedandrathal 1 year ago
Right or wrong He sure knows about the economy. I cant imagine Obama would ever talk as smart as Ron Paul about this issue during a live interview with out his teleprompter.
Zimba9810 1 year ago
If anybody want's to get their minds blown away, read The Creature from Jekyll Island. 'Nuff said.
firestrings272 1 year ago
Ron Paul is one of the very few men in our political system who has it right. I've been meaning to read his new book End the Fed. Also people should check out Alan Grayson of Florida. He's fantastic as well
1Watchmen1 1 year ago 17
what happened to that depression? lol we're in recovery now. stupid republicans
jerelfromthebay 1 year ago
I know, republicans dont know shit, my mom lost her job last summer in 2009 she has a job with the company with Clorox now and she still has the job!
We are not in no depression
TheTyC91 1 year ago
@TheTyC91 Well thats not a very good argument! the economy is great because...".my mom found job"...."we are not in no depression"
You should work on constructing stronger arguments seriously.
AmadeusStatisitician 1 year ago
@AmadeusStatisitician I didnt ask you, and plus I wasnt trying to argue! : )
Have a nice day
TheTyC91 1 year ago
@TheTyC91 sick kid, a few poeple still had jobs in the great depression and yet it was still a depression
myhunter15 1 year ago
if you look at the debt Obama's accumilated and the amount he's borrowed, we're most likely going to end up in a depression.
livewithsin 1 year ago
Keep swallowing that recovery.
truefaith00 1 year ago
Unemployment 9.7%
( actually 17% if you count the people who settle for part time work at burger king )
Doesn't sound like a recovery to me...at least for another 10 years
SENTRY000 1 year ago
At least Paul talks about the real issues while not having all the answers acceptable to everybody(who has?).Its a pity that he wasn't given more coverage before the last election.
His message is clear- less government spending is the answer )including and particularily on the overblown military.
His point that each dollar spent by government is a dollar less spent in the productive sector is particularily important.
Jonchess 1 year ago
WOW the panel is sure looking like a bunch of Dipshits in Feb2010. How was this ever considered a "panel of experts" in the first place?
libertatem997 2 years ago
Beerslave, the DJIA is over 10,000 because of all the costs companies are cutting back on from the excessive unemployment, it has nothing to do with the economy bouncing back. Even if Keynesian economics was correct (which it never will be), in its best-case scenario government spending would not even cause an increase in the stock market anyway. You don't judge the health of the economy from where the DJIA is. All you see is the malinvestment and valueless credit from the Fed's new bubble.
mark07778 2 years ago
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mark07778 2 years ago
Shakespeare said: Neither a borrower, nor a lender be. a lesson in common sense .1.the first symptons of hyperinflation are a government cannot balance it's budget from tax and trade so it needs to borrow which only creates a vicious circle.2.printing money out of thin air ,that is not supported in the output of goods and services .why would any sensible gov cause hyperinflation ,to stop a depression,and in this way it does'nt look as though they have raised taxes ? legalised theft !
spectre1929 2 years ago
Sorry to all you Paulites... the economy (at least the consumer economy) has been in (slow) recovery for the last few months.
Ron Paul = proven wrong again.
8GarretttterraG8 2 years ago
@8GarretttterraG8
You believe the notion of a jobless recovery, do ya?
I guess you predicted this crisis, like Mr Paul and Peter Schiff?
This crisis has n't even begun yet, the hammer drops this quarter.
If in two years we are still recovering and have economic growth I will pers0onally apologize to you. I wont be doing any apologizing though
jjrglobal 2 years ago
@jjrglobal
Well, you capitalists believe that as long as business is doing good, the people will (eventually) do good as well... (I think they call it trickle down.) The businesses are recovering, that means the people are soon to be recovering as well. Right?
I love how you capitalists get all communistic when it comes to proving yourselves right. What do you care about jobs? What do you care about 'the people'? It's business that rules the world... its money, it corporations, its free market.
8GarretttterraG8 2 years ago
@8GarretttterraG8
Of course its trickle down, the free market is natural. You ever heard of anything trickling up in nature?
I'm not the smartest guy, but I'm fairly certain of one thing, I have a better chance of getting a raise if my boss has more money in his pocket than I do when he's broke. When he's broke, theres no chance of getting a raise.If the company does well, I do well, its that simple. I have never received a gov check and dont know anyone that has,so if they do well who cares
jjrglobal 2 years ago
HAHAHA you eat Obama's words. How is spending more money going to fix anything? It can for a little bit but after a few years the debt will get piled up. History repeats itself because people like you let it. Stop being in denial.
CrushJehovah 2 years ago
@8GarretttterraG8 Idiot
lamiac2411 1 year ago
Obama Osama 6:55 Ron is our best hope for truth justice and the American way. thanks Ron
slacquin 2 years ago
the last seconds that prick says to obamas credit at least he is trying to move forward......... what a prick! they all were foaming at the mouth to nail Ron and they all seemed like a bunch of rotc in the room with a officer. the man is a genius
Crustydraw 2 years ago
Ron Paul is a genius, albeit ideologically stubborn.
Cracky3000 2 years ago
Obama is a fraud. He takes our tax dollars and spreads it out to all the stupid Union jobs around the USA. This is not what America needs. And to make it worst he says that he saved thousands of jobs with the stimulus money is a joke! This is not saving jobs, this is a major TAX and socialism at its finest. Obama should let us keep the money we make rather than give it out to the Unions and bureaucrats kissing his ass.
UCSDEngineerDoctor 2 years ago
oh another fox news viewer! i wish you could see the documentary "outfoxed." try lookin up charts on the unemployment numbers in this country why dont you, we seem to be losing less and less jobs each month, but noo, that couldnt be from the stimulus could it? 9 police officers and 12 firemen (in my home town alone) were NOT layed off thanks to stimulus money . major TAX you say? are you aware a big percentage of the stimulus package was a TAX break? do you really get ALL your info from fox?
yfz450mane 2 years ago
Your 9 police officers and 12 firemen are TAX JOBS. To stimulate the economy we need jobs from the private sector. We cannot afford their UNION dues and pensions. We need engineers and entrepreneurs, because with out them there will be no stimulus money. Unions bankrupt GM and CA and now Obama will bankrupt this country!
UCSDEngineerDoctor 2 years ago
still a job isnt it? you'd count them as unemployed if they were laid off right? well whats your great idea of bringing jobs back to the private sector? your last president had 8 years of tax breaks for the rich, that didnt work, we were losing jobs at a record rate.. you know, except for this last year, you republicans had controlled congress for 12 YEARS straight? now the dems control congress for once and you all act so mad. if you guys did so good, youd still be in office dont you think?
yfz450mane 2 years ago 3
we will be back in control in 2010 thanks to your party's reckless spending. and do you really think it should count as re-employment if the job is only temporary and the person becomes unemployed again when everything is done? there is a difference between "new" jobs and "additional" jobs.
nygiants93 2 years ago
hey i dont like spending so much money either, but ask yourself, why are we spending all this money? $878billion stimulus to fix a crumbling economy thanks to Bush policies, 11 billion a month in iraq thanks to Bush policies. you guys had your chance and the american people didnt like what they seen, the election wasnt even close, you guys doomed yourselves. and where were your complaints when Regan was quadrupling our debt? or when Bush was adding 4 trillion to the debt?
yfz450mane 2 years ago
well, regan helped the economy. but, also, I am 16 so...yeah. i just do not think throwing money at the problem would solve it. i think cutting taxes would do better.
nygiants93 2 years ago
Bush signed the biggest tax breaks in history as soon as he took office, so that means we had 8 years of the largest tax breaks. IT DIDNT WORK
yfz450mane 2 years ago
germanys the most unionized country we know of inall developed free nations. and theyre doin alright. unions arent so bad as long as they have limitations, the have to let the company compete.i can afford my benefits just fine and i like what i get for it too.and the company i work for makes billions a year(ups). you think everyone should have a job like walmart where you have no benefits at all?that would break our society down to a rich class, and a poor class.middle class would be wiped out.
beerslave7 2 years ago
Obama's stimulus package is an epic failure.
UCSDEngineerDoctor 2 years ago
Really... is that why all the indicators are showing that the recession is ending. And don't talk to me about unemployment. That is always the last indicator to turn around.
aagraber45 2 years ago
@aagraber45 R u serious?? Please indicate to me what "indicators" are showing that the recession is ending? We have more foreclosures now more than ever. All of our american jobs are being sent abroad or taken by foreigners thanks to the wonderful H1B visas. You go ahead and let them tell you everything is all better. Our country is bankrupt! R u blind??
lamiac2411 1 year ago
@lamiac2411 : Well.... actually the recession has officially been over for a while now. Additionally, we have had positive job growth for a few months. As opposed to losing 800,000 jobs a month about a year ago. Also, manufacturing has grown for the 9th straight month, growing at a rate not matched since 2004. Consumer confidence rose from 46 in Feb. to 52.5 in March. The stock market has rallied. Truckers, rail, and other transportation companies are seeing demands grow.
aagraber45 1 year ago
@lamiac2411 : To say that the economy is not rebounding is to ignore many, MANY indicators that are saying otherwise.
And remember.... unemployment will be a lagging indicator and will be the last to rebound.
aagraber45 1 year ago
@aagraber45 Really? And what indicators would those be? You had plenty of space to list some but you didn't. What THAT indicates is that you don't know shit. Reduction of unemployment is ALWAYS the first step to economic recovery. Stop talking like you have knowledge on the subject, because I have a degree in economics and I can say with complete certainty that you have no clue about what is going on.
adrenas 1 year ago
@adrenas : Ok.... so tell me "MR CAREER ECONOMIST." What marks the end of a recession? What is the technical end of a recession?
Also, how many jobs were we losing at the peak of the recession? Let me help you... it was around 900,000 jobs a month. Now we have positive job growth, as opposed to losing 900,000 jobs a month. I would say that is a positive indicator.
I cannot believe you are an economist and do not know that the job numbers are a lagging indicator.
aagraber45 1 year ago
@aagraber45 To say that a recession has somehow ended because of a very very small positive fluctuation in numbers due to the pumping of artificial fiat currency adding drastically to the national debt is an absurd statement. Not to mention it drastically reduces the worth of the dollar. It's like giving a crack head in withdrawal more crack, he feels better after a hit of smack, and then you tell him there ya go ur all cured. U haven't fixed nething, his crack addiction is still there
lamiac2411 1 year ago
@lamiac2411 : Positive GDP and positive job growth for months and months, after a complete downward death spiral is not, "very very small." Oh.... so you would be rather still be losing 700,000 jobs a month, like when Bush left?!?! The total collapse of the financial industry and car manufacturing industry would have done JUST WONDERS for the economy!!!!!
No... what is down right absurd in comparing macro economics to a crack addiction. Silly comparisons to prove silly ideologies.
aagraber45 1 year ago
@aagraber45 ok thanks for the statistical analysis but I think ill live in the real world..
lamiac2411 1 year ago
@lamiac2411 : Sorry but the "statistical analysis" IS the real world. Those pesky little facts are tough to dispute.
aagraber45 1 year ago
@aagraber45 Actually they are fairly easy to dispute. Because those numbers do not include the mass amounts of part time or underemployment that exists. Do u know what underemployment is?? It's something around %60-%70 of the people who have jobs currently experience. Take a peak at that housing market! Still think the recession is "officially" over?? Look ne1 can look at these bullshit numbers heavily manipulated by the government, or you can look at what the hell is goin on around u.
lamiac2411 1 year ago
@aagraber45
75% of "GDP" is calculated FROM SPENDING, and the GDP is not indicative of anything. it is a fabricated number spun by government to serve as propaganda to fool us into perceiving that the economy is healthy so we will continue borrowing and spending beyond our means.
rome is burning.
milkmandan77 1 year ago
@milkmandan77 : OF COURSE GDP IS CALCULATED FROM SPENDING! Do you suppose we should measure economic growth and output by evaluating fat ass Rush Limbaugh's weight fluctuations?!? GDP is calculated with Consumption, Investment, Government Spending, and net exports. To say it is "not indicative of anything" is wrong. Sorry.
GDP is not the only economic indicator trending in a positive direction. Many economists believe the recession ended in 2009.
aagraber45 1 year ago
@aagraber45
"OF COURSE GDP IS CALCULATED FROM SPENDING!" don't you find a problem with this, that our economic output, our "product," is spending? shouldn't one's "product" be WHAT THEY PRODUCE? if GDP is indicative of anything, it is how unsound the structural underpinnings of our economy are. "many economists believe the recession ended in 2009," and they currently work for MSNBC. obamanomics is a huge failure, because his advisors still subscribe to keynes instead of the austrian school.
milkmandan77 1 year ago
@milkmandan77 : So what do you suppose drives output if not spending? Also, GDP is not just calculated by spending. Exports are a big reflection of the health of our economy as well.
Surely you are not trying to say that the economy has not improved from a year/ year and a half ago?!?! Please tell me you do not believe that.
aagraber45 1 year ago
@milkmandan77 : Um... you are wrong when you say "and they currently work for MSNBC." I know that the MSNBC card is the easy rebuttal for you Neo-cons... but it is just plain wrong.
"Most members of the National Bureau of Economic Research's Business Cycle Dating Committee have said the recession probably ended in mid-2009, when several key economic indicators reached their trough and the economy started growing again." April 13th, The Wall Street Journal
aagraber45 1 year ago
@milkmandan77 : Awww yes... I love this keynes/austrian school debate. I suppose your next comment will liken Government spending to breaking a window. The broken window fallacy is itself a silly, trite argument. Silly metaphors for silly ideologies. Government spending is not a window. Cash for Clunkers was not like a pond or breaking a pencil. Taxes are not equal to a classroom full of kids.
Ok... so answer me this. What ended the Great Depression?
aagraber45 1 year ago
@milkmandan77 : Also, I can point to entire cities built on Government spending. Boulder City and in turn Vegas where built on the keynesian principals. People were driving from all over the country and sleeping in their cars to work at the Hoover Dam. So this idea that Government spending cannot stimulate the economy is silly.
aagraber45 1 year ago
@aagraber45
but we are now in a position where it is impossible to pay back the $ that was borrowed and spent. that "entire cities were built on government spending" is not a valid argument in favor of government spending. that's like saying 'my entire wardrobe and den was financed by credit card,' after i lost my job a year ago. aww yes, i LOVE you keynesians who believe all is good, when the entire economy is in the process of crashing with a major depression headed our way.
milkmandan77 1 year ago
@milkmandan77 : So are you going to answer my question, or not?!?! What ended the Great Depression?
aagraber45 1 year ago
@aagraber45
savings and production.
milkmandan77 1 year ago
@milkmandan77 : "Entire cities were built on government spending" is not a valid argument for government spending? Um.... sure it is..... Government spending stimulated the economy to the point that cities were built (Boulder City) and other cities (Vegas) also thrived, due to the spending. And that is due to ONE project!
"That's like saying 'my entire wardrobe and den... " Sorry, but they have ABSOLUTELY NOTHING to do with each other. More silly metaphors to support silly arguments.
aagraber45 1 year ago
@milkmandan77 : Oh... and in case you didn't hear the research organization that officially marks the end of recessions stated Monday that the recession ended in June of 2009. So we went from a total downward death spiral in 2008, to stabilizing the economy and ending the recession by June of 2009.
Sorry.... but Obama's policies worked.
aagraber45 1 year ago
@aagraber45
"the research organization that officially marks the end of recessions said that the recession ended."
LOL! could you be anymore foolish? who exactly is this "organization?" stalin and lenin and a phrase for people like you, it was USEFUL IDIOT.
milkmandan77 1 year ago
@milkmandan77 : Why don't you tell me who the organization is?!?! Do you have any idea?! I am guessing NO and you are just talking out of your neo-tard ass, suggesting that NBER is involved in some "Government conspiracy." Go watch some more Glenn Beck..... it's doing a bang up job educating you thus far.
YOU my friend are the idiot. You have completely abandoned talking about any facts or numbers and are left with dumb, "stalin and lenin" statements. Sorry... facts are facts.
aagraber45 1 year ago
@milkmandan77: Let me help you out, because the talking heads that are spoon feeding you your thoughts have not.
The NBER is a private non-profit research organization founded in 1920. 16 of 31 American Nobel Prize winners in Economics have come from the NBER.
So take your trite "useful idiot" comments and put them where the sun don't shine.
aagraber45 1 year ago
@aagraber45
LOL. idiots bush and obama injected TRILLIONS in phony money into the economy. of course things look like they are improving. but this is only short term, because the unsound structural underpinnings in our economy are still the same. and as for groups like the NBER, wiki says they "disseminate unbiased economic research among public policymakers, business professionals, and the academic community." yeah. no corruption or fraud in THOSE circles. boy have YOU got a lot to learn!
milkmandan77 1 year ago
@milkmandan77 : Quit avoiding my question. What ended the Great Depression? What... are you scared to answer? Don't know the answer? What?!?
aagraber45 1 year ago
@aagraber45 LOL. please. like YOU have the answer? you don't know anything so far as i can tell. you are probably one of those chinless sheep that believes the revisionist version of history that claims the government ended the depression. the government CAUSED the depression, and THE PEOPLE ended it through savings, investment, production, and enduring poverty for a decade. the government has no answers, no solutions. the only tactic they have is spending our great-grandchildrens' money.
milkmandan77 1 year ago
@aagraber45 It wasn't the New Deal if that is the answer you want. And, 99% of Democrats today are more like Dewey Long. FDR and Dewey Long were both Democrats, but Dewey wants to tax the rich really, really high and distribute the wealth to the poor. Sounds like Obama doesn't it! What got us out of the Great depression was actually World War 2. Hard to believe, I know but it is a fact.
101uspatriot 9 months ago
@101uspatriot : Actually WWII was the answer I was looking for. So what was WWII? Can you say, "massive amounts of government spending?!?" So this line that government spending can in no way stimulate the economy is silly.
Going back to the tax rate during Clinton is not "really, really high." You know.... back when we actually had a surplus.
aagraber45 9 months ago
@milkmandan77 : It is going to be a slow recovery overall. The country is not going to go from a economic death spiral to total prosperity for all, over night.
Rome WAS burning, until policies were put into place to put the fire out.
aagraber45 1 year ago
@aagraber45 Just because Mayor's are rushing to build a damn Wal-Mart in every damn town in America so they can say they added a few thousand jobs since they have been in charge means nothing. It's all for political gain. We all know these job's are of extremely low quality and pay far from a living wage. You won't buy a house any time soon stocking shelves at wally world. The people without job's isn't the only problem, every1 is fucking under employed. $8.75 an hour will get u nowhere
lamiac2411 1 year ago
@aagraber45 Well I don't know what your comment is in response to but a long economic crisis can have short spurts of prosperity but kicking the can down the road has never been a good policy. "Too big to fail" is not okay and, the way the government works, they will let people get away with theft again and again until the collapse is permanent.
conspirator272727 1 year ago
@aagraber45 Hello, I am a career economist. You have no idea what you are talking about. None at all. There are no "indicators" that the recession is ending, stop regurgitating your spoonfed garbage. FYI a decrease in unemployment is THE FIRST STEP to ending a recession or depression. So, don't talk to us at all because you are a moron. Thank you buh-bye.
adrenas 1 year ago
@adrenas : Ok... here are a few indicators.
GDP is positive and has been for some time now. Average hourly earnings have risen. Consumer confidence was recently at the highest rating in 2 years. The average hourly workers hours are increasing. The national unemployment average dropped. Freight demand from the transportation industry is on the rise. S & P's home price index showed it's first annual increase in 3 years. The manufacturing index expanded for the 11th straight month.
aagraber45 1 year ago
@adrenas : You are no economist moron. You don't even know what officially ends a recession. "There are no indicators that the recession is ending." Because, officially, IT IS OVER!
aagraber45 1 year ago
@aagraber45 Really? I have 4 years of college that say I am. You are just randomly spitting out numbers as premises with no relationships drawn to effect on the economy. Many of your numbers are also wrong. And you don't know when a recession is ending until it is over and this one isn't nearly over. Keep getting spoonfed garbage though, moron.
adrenas 1 year ago
@adrenas : So why don't you tell me what "numbers are wrong."
Yes.. NBER usually takes a LONG time after the end of a recession to call it. So say 18 months after the official end they will say.... "oh btw, the recession ended 18 months ago." Many economist are saying that the recession ended around July 2009.
aagraber45 1 year ago
lol thats hilarious these people are clueless. the look on their faces is priceless.
drunkenboxer1985 2 years ago
did the economy grow cause i just saw the other day that the jobless rate is the highest it has been since the 1980's...
psycho26shon 2 years ago
Jobs are always a lagging indicator. Businesses aren't confident enough to hire. People have been saying the unemployment rate would top 10% for months now. Take this into consideration, at the height of the economic "crisis",as some have called it, the economy was losing jobs at about 800,000 a month. Now the economy is losing about 200,000 a month. Granted that is a lot of jobs but recoveries take time. However, we averted a depression. And yes, the economy grew by 3.5% last quarter.
mikzyspitlik 2 years ago 2
i understand this concept but you got to wonder if pumping well over a trillion dollars into the "economy" help inflate it for a lil while? maybe it stimulated wall streets numbers but next year several economists are predicting that a third of americans will be underemployed or unemployed. you just cant buy up bad assets and save freddie and fannie who created the house bubble with their subprime mortgages and then bail them out. you ever think that some of these" govt" economists are right?
psycho26shon 2 years ago
the risk was too great..depression--or bail out banks so hopefully the economy didnt crash. and last i saw, theyre paying us back.i dont know about you but i rather bail out some big banks instead of standing in a soup linethis christmas. do you think it was coincidence that our monthly jobless rate started declining after the stimulus passed? the dow was so low at 6,626, now its 10,328. you need to lay off fox news, and start watching a variety of networks. check out the documentary "outfoxed."
beerslave7 2 years ago
whos paying us back? lol how? with more tax payer backed govt bullcrap such as the health care reform ?who do you think will be paying for this crap? you seriously need to quit drinking their kool . aid bro! anyway the end result is total economic failure. man inflation is so cool
psycho26shon 2 years ago
banks are paying us back bud. how? banks are making profits again. thats how. even your republican pals like john boehner and mcconnel were upset about it b/c obama was spending THE paid back money on other thing (which i disagree with) but they probably didnt they tell you that on fox news! your the one dinking the kool aid when you watch Fixed News.. And health care reform is Supposed to lower our deficit, BUT only time will tell whether or not it does. i dont know the answer to that, nor do u
beerslave7 2 years ago
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rog17s 2 years ago
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rog17s 2 years ago
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rog17s 2 years ago
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rog17s 2 years ago
Its always the republicans who argue for less regulation, but by what Clinton later called one of his biggest mistakes,he deregulated the financial market more than anyone before him.This happened Oct. 22, 1999 after an agreement between congressional republicans and clinton to repeal the Glass-Steagall Act of 1933. The proposed Financial Services Modernization Act of 1999 would do away with restrictions on the integration of banking, insurance and stock trading imposed by the Glass-Steagall Act
beerslave7 2 years ago
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rog17s 2 years ago
Oh dont get too witty now.Ron Paul is also the same guy who said, "the stimulus package would turn the recession into a depression." that shows how much he knows about economics b/c last i checked the markets at 10609, it was just last March the market was at 6500.Not to mention the unemployment rate is declining Every month now, when just a year ago we were losing 700,000+ jobs month. Seems to me like the stimulus is working.Them market numbers are no coincidence.Things are getting brighter!!
beerslave7 2 years ago
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rog17s 2 years ago
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rog17s 2 years ago
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rog17s 2 years ago
yes both parties are well bought into by lobbiests but republicans are more bought than any. perfect example of this is evident in the ongoing health care debate. These congressmen on both sides, have been for years, getting paid by health insurance companies and pharmaceutical companies. It is them that DONT want americans to have affordable coverage and cheap medicines. look how much revenue these companies have: Aetna$30.9B UnitedHealth$80.1B Aflac$15B MetLife$44.7BILLION. (source: wikipedia)
beerslave7 2 years ago
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rog17s 2 years ago
i understand banks caused the problem. we're not rewarding, they are paying us back. what you dont understand is, you say these banks should have been eliminated. first off, if you research the great depressing, go ahead google 'great depression wiki', major bank failures was the first of the meltdown. second, how do you eliminate them?there were no other banks to take their place, they were the BIG banks. the bail out is a loan. pure and simple. youre delusional to say this is a fake crisis.
beerslave7 2 years ago
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rog17s 2 years ago
rog17.. youre a sick person. my view of history is superb, and yours, im afraid is just not all there. its pointless to debate with you, youre so lost its obvious to me ill never convince you of anything so im not going to waste my time, also because i hate how youtube has this "Remaining Character Count" thingy and i can never get everything out that i want to say before i run out of space to type it. also one other thing, US GDP=$14T US Debt=$-12T you say we gave the banks $24T?u r lost
beerslave7 2 years ago
you know what else.who was president when the great depression occured?R-coolage. who was president after coolage? R-hoover. rog17 the grt depression lasted for nearly a decade untill finally a democrat FDR took office and stopped the depression with the 'spending' of money on the 'New Deal' and the 'spending' of money on WWII. rog the Fed is alright as long as the republicans arent asking for less regulation all the time. although ill note, clinton deregulated too but later said he was wrong.
beerslave7 2 years ago
@beerslave7
Uhhhh... No. "Coolage" was not president when depression hit. Hoover was. And it did not last for a decade until "finally" FDR took over and spent our way out of it. The depression began in late 1929. Hoover cranked up government spending and works projects. Still, the depression raged on. "Finally" FDR was elected 3 years later in 1932. He continued to crank up government spending and works projects, and still the depression raged on for another decade.
gabegx 2 years ago
Ok Im sorry, Coolage left office March 4, 1929, and the market crashed October 29, 1929(start of the depression). Regarless of that, the republicans held the presidency from 1921 all the way until 1933.They were in charge then, and they were in charge for 8 years leading up to the 'great recession'. And let me correct you this time,FDR was "Finally" elected March 4, 1933,not 1932. and Hoovers Public Works project didnt come till his last year, which FDR adopted and expanded upon in The New Deal.
beerslave7 2 years ago
@beerslave7
No, no, no. Let me correct you: FDR was not elected 3-4-1933; he was inaugurated then. He was elected in 1932. But more to the point, you tried to make it sound like the republicans presided over the depression for a decade, doing absolutely nothing until "finally" FDR came in a "decade" later and saved the day. Simply not true. And it's not "coolage." It's "Coolidge." Hoover started cranking up gov't spending/works in 1930. And it doesn't necessarily take a long time to...
gabegx 2 years ago
@beerslave7
...turn a depression around. Simply read about the depressions/panics of 1873, 1893, and 1907. None raged on for a decade... and none had massive gov't intervention trying to artificially keep the economy shielded like the Hoover and FDR administrations did. Look, whether the New Deal helped or hurt the depression is a contentious issue, and you're welcome to your opinion, which I obviously disagree with. But please, at least try to get your facts and timelines straight.
gabegx 2 years ago 4
@gabegx Not to mention the recession of 1920 that was over in one year because the federal government cut back the total budget by 30%. Everything the Keynesian school has done historically has only exacerbated the problems.
pretorious700 1 year ago
@gabegx Do You have a specific book we can read to find out about these panics?
flamboyant0 1 year ago
@gabegx Considering that the central banks and regulators were all brought in to prevent these catastrophes and have proven time and again that they are powerless to do so, why keep sending them our money? '70's energy crises, 80's savings and loan crises, 90's dot com bubble, and today, real estate bubble.
UponInfinity 8 months ago
Well, considering that we're not in a recession any more and the economy grew by 3.5% Ron Paul is wrong...who saw that one coming? I did!!!
mikzyspitlik 2 years ago
Your wrong ,,, unemployment is its highest in 25 years and by the end of 2010 all that fake Obama money is gonna be gone and all those states that hired people with it are gonna lay all of them off and be in worse shape than ever. It was a democrat quick fix which never is long term nor is thought through. Typical dem thinkin
USASoCCerGoaL 2 years ago
No you're wrong. Firstly, the stimulus will be paid out over 2 years so it won't be gone by the end of the year. Secondly, without the money to the banks, automakers, and to states many states would have have serious budget pitfalls and unemployment would be far higher than 10.2%. His decisions weren't political they were the suggestions of just about every economist in the country. Don't let politics cloud your mind from the facts.
mikzyspitlik 2 years ago
Excuse me, I thought you said 2009. You were right about the time limit. But the expectation is that the economy will begin to support itself on its own so there won't be any layoffs. That's how it is supposed to work in theory and I have scene no reputable evidence that points to anything contrary to that notion.
mikzyspitlik 2 years ago
you're an idiot. you're no looking at the figures right. the economy grew 3.5% from what? from the highest lows in decades? Do u have any idea what inflation is and the serious consequences were facing with the permanent devaluation of the dollar? u havent even seen the outcome yet and you're already celebrating. How naive and retarded some people(namely you) in this country can be shocks me sometimes
drunkenboxer1985 2 years ago
Oh shut up, no ones celebrating anything. I am stating the facts as they are. Folks like you are the real idiots. You hold on to your bullshit ideology and would allow the country to see more economic losses because of it. Of course there will be negative consequences. But as we have seen, the cost of doing nothing time and time again outweigh the cost of intervention. There is no celebration here there is only the realization is that people like you should keep their mouth shut!
mikzyspitlik 2 years ago
MY bullshit ideology? You're the dipshit sayin "we cant just do nothing. doesnt matter if its obviously the wrong thing. we have to do something. yeah "doing something" is why we had a great drepression rather than a small recession in the 30's genious. Government interference with the free market is stemmed from special interest groups that lobby the government. what u end up with is economic fascism. you cant see that what caused this crisis to begin with was govt intervention. YOUR'E BLIND
drunkenboxer1985 2 years ago
Uh huh and your solution would be?????. Hate to break it to ya but that does not work. Everyone always wants simple solutions to complex problems. I always hear this..."if we simply did this instead of this". It doesn't work that way. This problem was caused by a lack of regulation, so in that sense a lack of govt. oversight caused it. So spare me your small govt. sermon, I've heard it all before. You're wrong about the depression.You're a fucking moron and I don't have time you.
mikzyspitlik 2 years ago
no one said there was a simple solution except the people that want to print, print, print and spend spend spend. You cut spending and dont encourage irresponsible behavior by propping up bad companies with taxpayers money. Dumbasses like u preach a Mugabe styled monetary plan
drunkenboxer1985 2 years ago
I see the light now, suddenly I realize that saving these irresponsible firms was the wrong thing to do...ah yes, we should have allowed them all to go under dragging the world economy with them. Morons like you preach these market theories and principles that hold true in most cases but not all. So your plan would have been to allow all those companies to fail, and permanently destroy the American economy? LMAO!!! that is a great idea! You should be Treasury Secretary cause you're so smart :)
mikzyspitlik 2 years ago