Was the US economic collapse predicted 50 years ago?

[agrv8ion]

Rand probably collected Medicare and SS to give the government the middle finger for taxing her income. If the government's forcing me to pay into a program that I don't want but have no way of getting out of, hell YES I'm getting my money back. Way to be short-sighted!

[thodal2000]

Ayn Rand needs to collect more social security and Medicaid.

Hypocrite. But even a broken clock is right twice a day.

[chaisecranston]

Why did she have to go to soon?.......I can deal with her being an Atheiest (only disagreament I have her)....because she knows what it means to "You make Your Bed and you sleep in It!, or you reep what you sow , or maybe even responsibilty for you oun actions...in todays term..)" in America.....I'm sick of the ABUSERS of our nation's wellfare!.......Califonia, with our greatest gratitude.......please secede from the union.....and provide us with respect.

[therunningmanlives]

rand = rothchilds bitch.

[SleeperCell1991]

What she calls collectivism is monopoly of the corporations to control society.

[SleeperCell1991]

She was basically pointing out the fact that eventually American capitalism will eventually lead to socialism in some form.

[sporganmurloc]

@SleeperCell1991 There has never been true, laissez faire capitalism in America.

[definemaybe]

she TOOK medicare and medicaid before she died of lung Cancer. hypocrite!

[definemaybe]

she went on meicare and medicaid before she died of lung Cancer. hypocrite!

[modelmark]

she should have believed in historical determinism

[Wolky702]

well... ayn rand is right and since america is going on the path of socialism it ll go down once more (in 25 years propably)

[Lexotulivelulaxentri]

Would you like to know what communism really is?

[Txsray]

It's a dialectic scam. The supposed adversarial attitude on the part of Mike Wallace only makes her ideas seem all the more reasonable when there is nothing whatsoever reasonable about them.. Atlas shrugged is nothing less than a blueprint for world fascist-socialism. Rand wasn't predicting America's collapse she was helping to set it up. Or rather she was setting up how Americans would perceive it and programming how they would react.

[AeSaar]

It is like the twilight zone in these comments. A bunch of little nazi ubermen in the making.

[XanaduZune]

I believe in free enterprise but I don't believe in laissez faire capitalism, because large corporations have a tendency to try to become monopolies and to do evil things against the public good. There are many examples of that, such as Monsanto.

[alipdf]

@XanaduZune

go to rapture.

[tomitstube]

ayn rand is clueless quack. it's her ideology adopted by ronald reagan and alan greenspan that is destroying this country. fact.

[mexman48]

What a fake mother fucker this MIke wallace is. In this interview he is the "good soul" while he makes ayn rand appear as soulless. He is quite geneous (but not with his money), he wants all the world to have a good living under a socialist govenment. Mother fucker!!!, now we are seeing what he and his ilk have helped to create. A country where a vast number of people are leeches sucking the blood of honest hard working people. What a fake disgusting guy and his son chris wallace . rot in hell

[aluisious]

Laissez faire capitalism worked real fucking well with BP, AIG, Bear Sterns, Lehman...yeah let the rich do whatever they want, and trust that some miracle will prevent them from entirely fucking over the majority.

[hansjalv]

@aluisious I was going to write a comment to this video but now I don't have to. You've summed it up perfectly.

[Coutsify]

@aluisious

Man! You do not understand! A rich man or corporation CANNOT do whatever the hell they want (even under laissez faire Capitalism) because as long as this rich man or corporation has a competitor, he (or they) MUST provide their clients or customers a better product than the competitor.

Capitalism is self-regulating! The companies that do not provide a product or service that is better than the competitor's product or service go bankrupt. I pity your ignorance of economics!

[aluisious]

@Coutsify You're a fucking idiot. A trillion dollar counter example JUST occurred but you still can't figure it out because you treat "economics" like a religion.

[alx90x]

so? communists have been saying this for much longer than this cunt.

[percheron1654]

The interviewer's a moron even by today's standards.

[MaxTallon]

@percheron1654 : I'm pretty sure that's Mike Wallace, isn't it - a "journalist" who I used to respect.

[SandCmpbll]

@percheron1654

Yes, because today's standard is idiocy. See Glen Beck, Rush Limbaugh, Sean Hannity et al. BTW, this is Mike Wallace, from 60 minutes. He's still alive.

[fredespanish]

World Trade Center

[DirtyVegas7]

Smart woman....50 years ago and she even saw it then.

[LordoftheKaty]

@DirtyVegas7 Thats because she watcdhed how socialism and communism destroy her native country Russia

[AeSaar]

@LordoftheKaty If it wasn't for the communism, they would all be speaking German. One good evil deserves another.

[Iisdabest889]

@AeSaar That's not necessarily true. As you know Communism did aid the rise of Nazi Germany, and we don't actually know if Soviet Russia would have been wore without being under a Communist dictatorship pre ww2

[AeSaar]

@Iisdabest889 I disagree. The communists didn't aid the rise of the Nazis anymore than the catholic center, socialists, or any party irrespective of any political resistance or a lack thereof.

When people are dealing with a great depression compounded by costly terms of surrender (WWI), any skilled demagogue can invoke a peoples fear and inner prejudices enough to become a dictator.

Are we to blame communism for Pinochet? For Papadopoulos? For Salazar?

[Iisdabest889]

@AeSaar Ah yes I see. Much like Mussolini threatening the church with "communist behavior" so they wouldn't criticize him.

I don't think we can blame communism for stopping Nazi Germany per se, when we don't know if Russia and eastern Europe being free could have done the same job. I say we thank Russia, but due to its atrocities we don't thank communism.

[johnnyblueshoez]

FREE WILL? IT IS WRITTEN.........

[adamolambert]

What a great writer and philosopher! I think her writings need to be revisited today because of what is happening to America!

[MOPEDBRAD]

That's a pretty smart woman there!

[clarkewi]

"Atlas Shrugged.." I love that title.

[venkatkk]

and also fyi we liberated bangladesh whose people were being tortured by pakistani forces while the US just stood watching by..and even sent a destroyer to the indian ocean supporting the pak govt. if my memory serves me right...and we still managed to liberate bangladesh despite all of that...in just 16 days with the pak forces signing an unconditional surrender...not to mention kargil in 1999

[nyznicca]

You need to thank our ex president Clinton...if it wasn't for him that Kargil event in 1999 would have taken a different turn and don't flatter yourself....India's economy is shit next to America's!

[venkatkk]

au contraire..its precisely that sort of attitude thats landed the americans in the shit bowl they are today..modesty and humility dont seem to be virtues that come easily to them ;)

[venkatkk]

oh yeah is that what your papers have told you..fyi we beat the shit out of those terrorists and drove them back where they came from..while your president and your congress kept pouring aid directly to some crazy mullah...the composite dialogue was a statesmanlike gesture by our then PM to get rid off this problem once and for all and is a sign of our magnanimity and level headedness..as opposed to the attitude displayed by the USA over the last 8 years

[papawx3]

Mike Wallace {he's not scottish, he's a jew} is a COMPLETE TOOL of the zionist.

[zarxo]

Cali's economy is the size of India's economy. We are talking about enconomic not geography, mate. Inferring is an intellectual gift. Learn to use it!

LIke I said, if it weren't for the US, you guys would still be sitting on that oil, thanks to our U.S. Geological team, now you dont. Who do you think gave the Saudi the machines and know how, to do that? From my recollectoin, only a few Saudi family got that "buy out" from US. Seems like YOU over there have tyranny too!

[venkatkk]

I am sorry to disappoint you...but am an indian and live in India ..which if you care to look at the map is like an entirely DIFFERENT country than saudi arabia..or the arab world...

[zarxo]

can you not float with a coversation? anyway, learn to spell CHERRY. For some reason, you guys overs there don't know that that fruit is. I've asked Dell many times to get that address right, it's Cherry Ave--after a Cherry tree--a fruit, for a fruit.

[venkatkk]

We might not be the US but yeah we have one of the best professional armies in the world...with a healthy economy with good foreign reserves...an indigenous nuclear and space programme..and a vibrant democracy...and the US never took any oil from "us" cause we didnt have too much of it in the first place :p....Your conceit only betrays your ignorance mate :)

[zarxo]

If it was not for the U.S. India woudl be fighting Pakistan right now. Geez. Get with it. YOU, your country kicked out the sect of muslims that YOU did not want, they were forced into what is now Pakistan--Pakistan is actually YOUR problem. :) However, it was Muhommad who gave India freedom to worship their gods if they still paid the poll tax then. Times have changed but until we accept responsibility for the past then the future will kick us in the ass. :)

[venkatkk]

dude i'd rather you didnt go on like that with no knowledge of indian history whatsoever...btw we didnt "kick" em out..they wanted out..look up the Indian muslim league that was formed before partition...and India fyi is a SECULAR country that gives its people the right and freedom to follow any religeon they choose as opposed to pakistan which is theocratic...and as for pakistan we dealt with them pretty well in 4 wars before the US was on our side so hope that give you a little perspective

[venkatkk]

I am an Indian and I say this even though my country would surpass the USA in say 50 years time along with China : It is unfortunate that the people in power today in that country are violating every principle that the founding fathers had laid down...socialism, self sacrifice, the voice of the individualist in todays america is drowned by clever politicians riding on cliches and hackneyed phrases, supported by the average american who does not understand he's being led to dock

[zarxo]

You think? China will blow India off the map if the USA was not here. When the US falls, the world will change and it will be very nomadic and very war like, all over. There will be a fight for control and all the ugly heads will show up. A bombs will be dropped as a last resort.

[venkatkk]

...we're more than capable of defending ourselves mate...and we have the "bomb" too you know..in fact its the other way round where the US is in dire need of Indian co-operation on the war on terror in afghanistan where we are contributing by building roads and infrastructure and also in pakistan against whom we've been fighting the war on terror on a far longer timescale than the US has been...I am not very good at predicting the future so i will desist...

[zarxo]

China needs water.

India is the size of Cali.

Does this tell you the size of America?

Your ideas overrate your ego.

America is not just people, it has almost every temperate zone that europe combine possesses, except for the tropical jungle, which those own contries do not know how to maintiain and secure for the future.

America has laws, which will support "the colony" at the people's expense--never forget that!

[venkatkk]

erm India is the size of cali?? is it me or dont you know how to look at a map...we're the seventh largest country in the world mate..and fyi we have all the temperate zones too..i'd rather you didnt pretend to know somethin you dont...yeah and we know all to well bout the laws that facilitated the US to steal oil outright from iraq eh? why dont you take a harder look at your country again ..and my ideas are supposed to overrate my ego?

[nyznicca]

If you dont mind me asking.....what is your ethnic background?

[zarxo]

if if were not for U.S Geological techniques the middle east would still be sitting on untapped oil.

The US Govt should have followed AR's advice and confiscated all oil at that time in the 70s.

The day of OIL is past and OPEC is sweating it! :) he he. when they

scared guess where that dumped their profits into? GOLD. Even the Arabs know GOLD is worth more than OIL right now. :)

[venkatkk]

its really sad that the american people are in the state they are...when you see its evident really...i just dont see why people dont get it...interest rates should have been controlled by the market when in fact it was by the fed and clearly that has led to all of this and instead of realizing that we are seeing a comeback of socialism on a scale you'd never even have imagined...

[dave777blaster]

There are Americans that actually believe they live in the most free nation on Earth even today.

yet they have lost habeus Corpus,Posse comitatus and impending martial law looms over America.

this is how Brainwashed Americans are.

Until Americans wake up fully they will be sleep walking into a nightmare.

I fear the majority will not wake up until it is too late to do anything about it.

Even those that profess to be awake have doubts about it such is the brainwashing they received.

[dave777blaster]

the collapse of America is not a symptom of

politics either way.but is a manipulated effort to bring about the death of the will of the people to remain free.

Which is a threat to one world Govt. The people of America are so lost that they voted for a nobody born in Kenya over Ron Paul .

the days are numbered because the majority has been brainwashed .

it is by design not a by product of politics or financial systems.

[CoachElkins]

People have died, this was recorded in 1959.

[clarkewi]

@CoachElkins This woman was brilliant. Mike Wallace's son is now on Fox.

[vllmer]

Her last few comments were telling. People have to die to show we care, to paraphrase it.

[imikewillrockyou]

I never heard this called "modified capitalism" before. That explains how we arrived where we are today. Ironically, Obama and friends are saying this crisis was caused by not enough "regulation" and in fact it appears that just the opposite is the problem.

"Modified Capitalism" my new buzz word.

[MacPete187]

I watched one of those youtube videos that go for 5 minutes that compare various politians statements.. Obama, hilary.. all of them were talking about more 'regulation' they are just getting all of us ready for this 'clamp-down' in control. They damn well know they have the whole show in a choke hold, but continuously spit this garbage about regulating.. what needs to be regulated is them. But this goes right over the majorities head.

We are fucked.. if you don't believe this is coming it is.

[CoachElkins]

I agree 100% MacPete, please check out my other videos along these lines...

[imikewillrockyou]

Sadly I think you are right, we are $%%@#. The American Sheeple elected exactly the people that will finish us off.

[michigan83guerrilla]

Bullshit. Laisse fare capitalism created the Great Depression. The same economic philosophy which is now the worshiped by conservatives in both major parties, where regulation is slashed and tax cuts are showered on the rich led to our current crisis.

You guys can engage in revisionism all day, but that does not change the facts of the current situation.

[svenp]

Not true. Laisse faire captialism doesn't include a federal reserve artificially pegging interest rates too low / pumping out too much credit. A credit bubble was the root of the market boom/bust. Sound familiar?

[zarxo]

Capitalism does not want nor receive gov't intervention. The USA has never had it, only small glimpses of it. What you see with the bailouts and before with tax cuts is a heighten view of socialism. GM did this in the 70s and forced the govt for a bailout or GM threatend a huge lay-off. Go find your history! Stealing money that is not earned is NOT capitalism, for it is thievory.

[zarxo]

Not true, even the Britains willl say that without it, is why it took them 20-30 yrs longer to get out of it.

America has NEVER experienced true capitailsm.

In fact, with Corporate bylaws, SEC rules, federal and state statutes, the WERE NOT enforced or "watched" do you think more regulation will help?

When a corporation raises so high that it becomes a UTILITY for the public, then that company should be nationalized, but the "corporation" should be given fair value for its price.

[zarxo]

The problem is a corporaton has individual rights just like any person. So, does a corp. have inalienable rights that CANNOT be bought or sold? But ,eminant domain is allowed for public interest: it seems to me the laws need to be modified for corporatons that become "unmanageable" because of its size.

[thepie8u]

interesting.

[ViciousJones]

Power is collected, the majority is exploited and their will suppressed, and then there is revolution. Start the cycle again with the knowledge gained from the previous age. Tis the way things go.

[nmbypmby34]

Sounds like" WE don't have a choice" both Republicans and Democrats believe in "collectivism"

[nanotech2020]

Ayn Rand was way before her time. We need her now.

[SpellboundSolution]

@nanotech2020 You mean ahead of her time?

[reg12269]

@nanotech2020 IF U HEARD JOHN BOEHNER LAST NIGHT, WE'RE GETTING THERE. TEA PARTY ECONOMICALLY HAVE WON THE DAY AND ARE THE BEST THING TO HAPPEN TO THIS COUNTRY.