Is The Current Economic Crisis The Next Great Depression?

[coueii]

This guy is nuts.

He's advocating more government spending for Christ's sake!

Seems to be an endless supply of these bozos.

[soonermurph]

Government spending=government debt=depression.

[kermitcintronsucks]

The most highly leveraged bank in the world is the US federal reserve. If that doesn't scare you nothing will. What's gonna happen when the banks can't pay? Deflation. We will see inflation when it comes to food and energy but we will see deflation when it comes to housing prices and local services. I still think deflation is here to stay in 2012 and beyond.

[DrFruedienslip]

@kermitcintronsucks Food and services do not seem to drop simply due to housing prices falling, and then we have all these accessories, like cable, internet, cell phones etc which people seem to think they require; any concern can be known as being all inclusive anyway; Its not going to get better until people realize that having more children is not the solutiion as its all going to over sooner than we all think.

[ThisIsNotPictureTube]

I'm sure he'd stop enjoying it after they put him in for a few 5 segment interviews lol

[workwillfreeyou]

It’s not an Economic Crisis. Its wealth centralization. And everything is going exactly as planned.

[1x93cm]

does this guy realize...gov't spending really just creates more inflation?

[1x93cm]

is the sky blue?

[sirellyn]

This "just have to spend more money" mentality has to stop. Where do you think the money comes from in the first place? It comes from tax payers and tax payers are getting more broke.

And then people want to tax the rich, as if that would solve everything. And they still forget to answer the question, where does new money come from?

Its akin to "where's the next lush forest to chop down?" vs "how can we make all land grow as fast and strong as possible?"

[underoathuea]

Love Paul Jay's face in the cut backs. hilarious, unlike the depressing state of affairs which is the economy. Agreed on the proposals though, however if you look at Europe, many of our economies suffer due to an incredibly over bloated public sector. The key for me is small businesses, but we must spend, its the animal spirit.

[danpt2000]

@underoathuea: Some people are able to save, and not spend everything they have. Are you animal or human?

[underoathuea]

@danpt2000 I'm a rational person, but I promise you thats not normal for humanity. We get carried away by the atmosphere of our economy, and the catalyst to its 'lubrication' and functioning must be spending in industry, not a policy of nothingness.

[jetaimecher]

@underoathuea If the key were small business, you would then be against blocking off all investment in small business by the mid-rich and rich in this country which generally happens on Wall Street, right? You wouldn't try to terrorize the U.S.A. and strike down its economy like the failed 9/11 attack? In terms of the economy, they did find a few poor looking folks to throw out front, but the new age protesters are carrying cell phones and laptops. And they received $300,000 don. Bet a few keep!

[Devilock79]

@itzmarko4

Agreed. I hate when TRNN does these economy pieces like the economy has any real bearing on people's lives. It's all made up numbers and monopoly money, it means nothing to the average person. The only problem is the fact that so many people are dependent on this monopoly money for their basic needs. It's crazy how people spend 40+ hours working for some random company when they could be at home growing their own food and making their own goods. Time to go back to the old ways.

[chuc555]

companies will hire people from China and Mexico , Where is Apple ( the richest company in the world) Manufacturing , in China where people make about 300 a month, Or a good old American company like Kenmore appliance (Mexico ) Levi Jeans , Hoover Vacuum cleaners. HP Computers , They all manufacture elsewere . The problem is everyone wants cheap goods, No one wants to pay 10,000 dollars for a big screen tv or computer and thats what it would cost to MFG. here in the US

[zoticus1]

Allow me to answer your question,

NO ITS WORSE!!!!!!!!

[slobomotion]

I continue to wait for a clip on the great depression of 1920. No tweaking was done, but it was over in two years, and forgotten. It was worse than the crash of '29. Most Americans I know don't have any money to spend or do anything with. They didn't plan, had nothing to fall back on. When you can't find work, you have to be entrepreneurial and you need some capital and a good credit rating for that. You also have to be literate, and I find that lacking in Americans now, too.

[fuzzjunky]

omg is this guy stupid?? we just had 3 bailouts [govt spending][ and now those big companies are making huge profits again and unemployment is at an all time high. has he not been around for the last few years? the govt is broke. if it borrows more money it won't go to smart spending to create jobs it will go to rich fat cats

[Provakator]

@fuzzjunky Sadly an other bailout is inevitable, as most of states,counties & municipalities around the country are bankrupt. There are several ways you can help them 1) government provides guarantees for new loans from private banks to states, or you figure out a way to do it directly to states or you give money directly to the population in hopes that they will spend it at local level @ boost business activity. Sadly I doubt population will ever be asked which option to take.

[fuzzjunky]

@Provakator wow your post is amazingly contradictory. if all the governments are bankrupt, we can only assume they have no money for bailouts and they have never worked before [thus the continued collapse]. and how would they give garantees if they're bankrupt? and what would that garantee be worth? how about we stop the thinking that it's all about profit?? and making massive companies? why have you set the boundaries around the only answers being government??

[Provakator]

@fuzzjunky There are no contradictions in my words. No-one had yet declared USA to be insolvent and despite downgrade by one agency US treasuries are still being snatched up by rest of the world due to myriad of reasons. Until, US is declared insolvent it can issue and guarantee debt, backed up by it's assets, military power and tax revenue. While me & you might concur on role of corporations or banking regulation, nature of game still hasn't changed.

[fuzzjunky]

@Provakator backed up by assets!!! LOL. you're 14.5 trillion in debt. your assets are worth shit. you seem to think the world is going to let you keep your world police riches. you are sadly mistaken. there is not one country in the world that isn't ready to piss on your burning remains. including china which will soon start selling your worthless bonds and it will start a currency crash. i know you'll ignore me, but just remember i told you before it happened

[brianestoll]

@fuzzjunky wow.. i'm in awe, you australians know everything..

[fuzzjunky]

@brianestoll we don't have the american media. it's easy to know stuff

[brianestoll]

@fuzzjunky well not all americans watch "american media" (propaganda machines) either. a lot of us know what's going on but making histrionic predictions is ludicrous. If all you nations who collectively hate all americans because of our nasty little entrenched government (that many of us are trying to fix as well as we can) are ready to take on the Yuan as a world currency.. then i'm sure you'll be in for a ride of an entirely different (or maybe not so different) kind.

[fuzzjunky]

@brianestoll not americans, but your govt. are hated. i should have been more accurate. i think if the us$ crashes then shit yeh they'll run to the yuan. quicker than a fart in a brewery. you will find your american sentiment turns to rats from a sinking ship mentality pretty quick.you are now the attack dog for the very rich. it's not a place to be in that ends well if you go broke. namaste

[brianestoll]

@fuzzjunky LOL... the Yuan is next though

[Provakator]

@fuzzjunky Hmm. I don't know why you had assumed that I have anything to do with USA or it's debt. Still US's ability to borrow is determined not just by size of it's debt. The question is not weather US gvmnt will be able to borrow, but rather at what cost. You're @ least 4-5 years too late with your prophesies. I'm glad that you're awake, perhaps it's time for you to start learning some concepts behind events, which are not as black & white as you portray them. Devil is in details.

[fuzzjunky]

@Provakator i hate to break it to you, but us [australia] and china, and canada, and many other countries are doing fine thanks very much. stricter banking regulations [like 10% leverage] is all it takes. sadly your government is now owned by companies and any money it borrows off china and will quickly be siphoned off by big companies until your banking rules are changed

[fuzzjunky]

yeh economists have only predicting it for about two years, so maybe

[vanvanbluz]

@geofsfilms you don't need to get rid of infinite growth. just attach currency to something that has had historical growth throughout human history. that thing is energy and it could represent the 10000 year world currency!

[amazingmazinger]

1:25 I can imagine the next crash in 2020.

[mikeoli]

The economic depression in the1890's with almost 20% unemployment was pushed on the nation the same way the the Depression in the 1870's was , bankers started to remove money from the system from 1866-1886 84% of money removed. In 1929-1933 33% contraction,2007-2009 money supply reduced by 40%.Until you effectively deal with how money is created and by whom the country will be held hostage by the Fed and its coconspirators on Wall Street.The Treasury could issue notes with no interest.

[911truthncDotOrg]

More TRNN propaganda.

Hey Paul Jay, take a lesson from Max Keiser. You might grow some balls.

Can you say "Goldman Sachs and JP Morgan are financial terrorist".

Jay, Come ON, say after me.

"Goldman Sachs and JP Morgan are financial terrorist".

Quit sugar coating it!!!!!!

[elbowbiter1]

@911truthncDotOrg Then go listen to bat shit crazy alex jones.

[911truthncDotOrg]

@elbowbiter1 "Then go listen to bat shit crazy alex jones"

He does great interviews. Max Keiser, Paul Craig Roberts, Catherine Austin Fitts, Sheriff Mack!

His rants do get a bit obnoxious.

elbowbiter1 is smart enough!

[pcuimac]

The other question is: Why do we always have enough money to fight endless useless wars? But not enough to pay for healthcare and retirement? Or schools and unversities? Because the militay-industrial-banksters complex lives pretty well in this mess they call society.

[icky8vicky]

@pcuimac Crime and war = money. They're sick.

[pcuimac]

the question is: who is more dumb? Those who want to have "sustainable growth by digging holes in the ground or fighting space aliens' or those who want the gold standard back 'and sustainable growth? Both! The limiting factor is the carying capacity of the earth. And we can not grow anymore because energy and other resources are being depleted very fast. Economists are stupid if they don't see that coming.

[707hoser]

@pcuimac Who said that you could get sustainable growth digging holes in the ground or fighting aliens? I'm wondering where you got that from.

[MarkoKraguljac]

Stagnation - when people who should have wit and courage to say and propose something new do not (either unwillingly or most likely are incapable).

Mr Miller is one of them. Many of them.

[lordblazer]

@MarkoKraguljac

I think we are at that point. Also to be honest it isn't every single individual in our society. Just the ones in the position to be heard that have no new ideas. Many young people do have some better ideas or at the very least new, but they are using it to make money instead. Why? because of how the system is currently set up.

[MarkoKraguljac]

@lordblazer Exactly. And such system formation (lasting from dawn of civilization with very few exceptions) is completely spontaneous and ruled by scarcity in broadest sense.

[lordblazer]

@MarkoKraguljac

I think since the 20th century scarcity has been slowly eradicated. Now its just forced. When it comes to basic needs that is. we produce so much food we could literally feed this world, but hey let's not do that. I dunno I think we have to rethink economics big time. People keep saying that when I say those words I am advocating for socialism or communism. Which isn't what I am advocating for. I am advocating for a completely different econ system. its time to ascend

[MarkoKraguljac]

@lordblazer What you just said is exactly what I believe is the real cause of current turmoil. In essence, our ancient social contract is incapable of dealing with potential to meaningfully alleviate scarcity. Premise that everything has to be earned is losing ground factually but our "thinkers" seem incapable of dealing with such situation and promote social contract update. Situation is hard and unprecedented but also great opportunity for humanity. Stuck connectomes cannot solve new problems.

[fuzzjunky]

@MarkoKraguljac omg can you try that again and try and make sense?

[MarkoKraguljac]

@fuzzjunky Concrete illustration for you: From dawn of time, unwritten social contract says: "You must earn your bread", meaning that EVERYONE has to make contribution to society in order to exist. It applied to everyone.

Technology is undermining that universal law. We are slowly transitioning to a world where 50% (or 10%?) of population (along with automation) are producing and serving more than enough for 100%. Our biggest problem is how to adjust social contract to that asymmetry. Clear?

[Richardb21]

Do you guys really think all the worlds superpowers are going to allow America to go into another depression, or do you think we'll be wise enough to come up with a solution? How is it that we got into such deep dept anyway? I mean, I've been in dept, but I knew damn well my money was increasing by the day. I would neeeeever in a million years let my dept reach trillions of dollars. If I had a big family to take care of I'd be way more responsible with money. We're not being taken care of folks.

[lordblazer]

@Richardb21

you're confusing US gov't debt with economic recession and depression. These are very totally different things. Let us say a depression is when an economy quite literally halts. Food isn't reaching the cities because farmers cannot sell them and is forced to let them rot, there is still an economy in general, but a majority isn't able to participate or even enter the economy. It becomes inaccessible to most. this is different than gov't debt. that is a different problem

[Richardb21]

@lordblazer Oh ok, thanks. I don't get the full picture of the causes, but if I researched I would. I care more about the solution than the problem. As long as were occupying cities and protesting there is hope. We need to be persistent. In the meantime, I'm going to enjoy my life and prepare for the future of my kids. Take care!

[dabigez357]

Simple use lawful money and makes sure the laws are followed...but as long as we have feit dollars or fake money thats worthless, politians ,corp. Heads, banksters and yes religous leaders.. Thats the problem ppl its a rackett

[livinginlux]

Let's not pussyfoot around the reason the "stimulus package" didn't work. It wasn't simply the amount of money. If you spend a trillion dollars, you should goddamn well have something to show for it. It didn't work because it was a hodgepodge of pork projects divvied out among congressional districts favored by the ruling party. There was no clear focus for this package. There was no federal jobs program, no green infrastructure, no governance in the public interest, period.

[jjcale1111]

.. another fool who does not understand the difference between money and weath... govt can create money as he wishes but it cant create wealth.... all that will happen is a fall in the value of the newly printed money (and the old stock of money) until there is again equilibrium between money and wealth.

[btigtime2]

economics is a philology like Greek myth. This nut wants to print more money from heaven like lighting bolts. what a koo koo When do we think of economic advisers in the same realm as palm readers?

[r0ll0t0masi]

If there's blood on the streets, you have a Great Depression...

[batfly]

6:13

That guy's hair is a metaphor for how fucked up our economy is.

[bsimpson505]

It's the new gilded age more then a new great depression I think. Some are doing fucking great.

[Eraser7622]

My GOD.. I am so tired of these adademics talking about how today compares to the Great Depression and now it can be fixed.. IT CANNOT be fixed.. we are NOT in another depression, we are in a BREAKDOWN crisis. Why aren't people seeing this? The ONLY solution is complete and total debt forgiveness OR putting large amounts of money into the pockets of regular citizens... this would solve the debt crisis, but not the empire breakdown. Of course, this would harm the 1% & that is why it's not done

[Chaoitcme]

@Eraser7622 It would also hurt many people who rely on pensions and social security.

[Eraser7622]

@Chaoitcme

Yes, it would hurt quite bit, but the alternative is an uncontrolled collapse which would be far worse. Unfortunately, that is where this thing is headed in the near future.

[Chaoitcme]

@Eraser7622 Yeah you are right. Those people will lose there pensions no matter what. If there is a total economic collapse then the will lose. If the debt is erased and funds are put back to 0 then the will lose. Not a good situation at all. I live in Canada and our banks did not fail like America's. I am hoping that things stay alright here. Our economy is stable for now but only time will tell if that will last.

[TheJourney000]

@Eraser7622 Actually it is their meddling which has inflated and devalued the currency that will make this depression beyond devastating. Had the problem been left to right itself naturally yes there would have been hardships but nothing like what is going to come down on every man, woman and child at this point.

[Eraser7622]

@TheJourney000

Entirely agree, but what we have today is a product of that meddling... so b/c free markets and capitalism wasn't allowed to function for the last several decades, we have a situation now where a collapse is inevitable. The only way to undo all that meddling is to eliminate the debt slavery it has caused as there is no way for the debts to every be repaid anyway.. it is pointless remaining in debt (nations and individuals) unless the objective is to cause pain. and it is

[lordblazer]

@Eraser7622

so you think the objective is to cause pain?

[grandmachristine42]

Why has RN blocked me from making comments?

[ourpangea]

o yes, the govrnmnt has not spent enough our money that's the problem. if we give them more of our kids money we'll b bettr off. it hasn't workd so far but i guess borrowing 40cents on the dollar spent isn't enough.

[allgoo19]

@ourpangea "if we give them more of our kids money we'll b bettr off.."

Not by borrowing from the foreign country.

Do you know anything about the gov. policy during the Great Depression recovery?

[TheJourney000]

In the first depression 80-90% of people were self-sustaining, grew their own food and knew how to live on the land. Today most people have no clue how to grow food and have zero survival skills. This depression will claim millions of lives. This depression will herald in a new dictatorship that will literally span the globe. This MANUFACTURED depression in collaboration with big brother tech is the final nail in the coffin of freedom, life and privacy.The New World Order, Satan's reign

[TheJourney000]

@TheJourney000 ...To claim that a new bailout is the solution is ridiculous.

[Chaoitcme]

@TheJourney000 I would not call it Satan's reign but yes this sounds like NWO trying to take full root. When all the banks fail they will try to establish a common currency for the Western world. I can not see a one world currency considering many countries are against the Western world. This is all speculation though.

[Craigipedia]

@TheJourney000 that is stupid... in the first depression nearly 40-50% of the people in the United States lived in cities, and thus were not self-sustaining.

your other points aren't worth discussing.

[dharmaatdawn]

@Craigipedia thank you u points. cant stand this empty rethoric

[vRennas]

@TheJourney000 Please go back to the alex jones channel. The Real News is a professional news organisation.

[lordblazer]

@TheJourney000

NWO has been here for decades. and don't say one world gov't means that. to be honest it'll be too easy for us to know who is pulling the strings, and we would focus all of our anger there. a one world gov't makes it too convenient. unless they do some gay shit like change the capital, and the true leaders hide behind holographs. either way I dunno man dark times ahead for humanity.

[icky8vicky]

@TheJourney000 That's actually true. My great grandmother grew up in the depression, but because they were farmers, they got through it without much of a change to their daily lives. I've been trying to get my parents to start a garden or something so that we can have some sort of back up, but have yet to get through to them. All I get are a bunch of lame excuses. As soon as I am able myself, I am starting my own.

[xchainlinkx]

@TheJourney000 In the first depression, all of the resources were still there, able to be produced. No one did anything because they didn't have money. Today, we have EVEN MORE technology and resources at our disposal. Will we just shut down farms, close production factories, lock all the unused houses because no one has enough pieces of paper? Can society be this fucking stupid?

[Devilock79]

@TheJourney000

No. They tried to take control but we caught them before it was too late. Look what's going on around the world, people are waking up and they will not stand for this crap any longer. Things can only get better, but we have a LOT of work ahead of us. We have to start from scratch, but we'll have the advantage of technology and the wisdom to learn from the past mistakes of our fathers.

[danpt2000]

@TheJourney000: you were doing OK til "Satans Reign"

[jetaimecher]

@TheJourney000 Daniel 7 says: THE SAINTS SHALL TAKE the kingdom. Psalm 149 gives them the right to take it, and Jesus gave them the power and mandate to take it. Many saints are so busy, they are just finding out about this.The biggest estimate of this turnout was 3,000. in NY.There are 312 MILLION people in the U.S.

Enough to go witness to & pray down 3000 New Age Witches, surely. There are more witches than Christians thought, but less than witches thought.

[allgoo19]

@TheJourney000 "first depression 80-90% of people were self-sustaining.."

Farmers were also in big trouble during the Great Depression. Their land were taken by the banks from foreclosure, quite similar to housing foreclosures today.

Never read the novel, "The Grapes of Wrath"?

Where are you getting such a false information?

[TheJourney000]

@allgoo19 It's not that people did not suffer or die in the great depression it's that this time the suffering & death will eclipse that of the great depression by far & it will be on a global scale. My point is, that people were better equipped to deal with the hardships(AND STILL DIED) while at this point in history the people have forgotten how to live on the land, are spoiled with convenience & are living in cities. many in apartments without land to grow & depend on trucks for their food.

[DrFruedienslip]

@TheJourney000 The economy is all inclusive so how can any government representative know how to deal with such a vast effect upon the whole, and especially when one considers how many new workers are pooring into the means exponentially increasing to an eventual ending unless people stop having children and become true environment conservatives, its only the proper thing to do if we dont want it to ever end, lets get real here

[TheJourney000]

@DrFruedienslip No sir, there are not too many people. There are too many corporations getting away with crimes. Monsanto has forced countless farmers off their land by suing them for copyright infringement and the courts approve when it should be the other way around and Monsanto being sued and held liable for contaminating natural seeds. Miles and miles of empty fields.You are listening to the propaganda of eugenicists.

[baboonsquadron]

TITLE SHOULD BE:

Is The Current Economic Crisis The NEW WORLD ORDER ?

DO YOUR REAL JOB PLEASE ! INVESTIGATE !

[joel1923]

Great depression? No. More like the beginning of another Dark Age.

[joel1923]

@joel1923 Bring back protected markets, or forget it. All the rest is useless chatter.

[ha38bb1]

@joel1923 Hey i got an idea! Lets Trigger Holy war by bombing Iran!

[OpenTheTrollGate]

@joel1923 lol fag

[lordblazer]

@joel1923

I got my sword ready.. Just sayin' THERE CAN BE ONLY ONE!!

[Devilock79]

@joel1923

I don't know what your talking about. Have you not been watching the news? The occupations around the world? We've been living in the dark age of corporatism for about 100 years now, we're entering the new age of consciousness and equality. Things are changing quickly and they're changing for the better.