So-called finance guru Soros didn't even understand what the Chinaman was talking about as he so eloquently described the difference between the outcomes of interventionist Hoover (and Roosevelt) beginning in 1929 and the non-interventionist (capitalist) Harding in 1920. Everyone should learn about the depression of 1920 - we could have had one in 2008. But no, we will have the 1929 version - long and painful featuring wars and a brave new world.
Jim Rogers "didn't want seven people" from the Fed "working next to him, so they had to part company". And since Rogers isn't making investment decisions reliant on a printing press that is robbing the value of dollars saved, he's "not a great investor" anymore.
These Chinese says themselves. What are you trying to fool? First of all if not regulation there wouldn't be these bubbles. They made lax lending standard, they created easy credit without any collateral from bank. If you would have pure pure free market you would have some kind of jungle from employee standpoint., but you would have full employment forever, maybe with lower salaries but still.
@mikailmari First off, while I'm not an american, the USA is far from lazy and drunk( which I presume is what you were trying to say with that bad english). They are probably the most creative and industriast people on the planet who have far surpassed any other civilization on the planet. China isn't rising at all, that economy is an illusion built on the hope that those in the west will be able to continue buying the crap they make, an illusion that is about to shatter.
@daveofsorrow The problem with China is that Gov intervene in every aspect of your life. In order for china to flourish they need to create a free market economy, to allow people themselves to decide where to live, what to do and etc. China is only good today to copy everything what other nations do. They need to open their creativity and don't be afraid to experiment with it. They need to create something what others don't have yet.
George Soros probably had hard time trying to understand the questions from the chinese hosts !!! it was obvious .!! Better get good speaking english hosts next time..chinese media !!!
Any civilized person who doesn't hold a raggle taggle collection of bronze age myths up as a guiding standard, you vile, disgusting, pathologically dishonest christian cunt.
"It's not a slur .."
Yes it is, you stupid motherfucker.
"so get over it"
You're hardly in a position to be lecturing people about equanimity, you apoplectic, neurotic, stupid motherfucker.
@whyteay Fuck off you cunt. I swear to God I'm going to find where you live and put a fuckin' bullet through your head - you're logging onto my account looking for posts I've made and are trying to wind me up?
The Chinese economist is Zhang Wei Yin, someone who I follow closely - he's a free market economist and it's the substance of his arguments that matter; detracting from the substance who implicit accusations of racism are facile. Now fuck off.
give that chinese guy a medal! i did not expect to hear someone espousing what is basically austrian theory in this video! good to know there is still sanity left in the world
Probably best to do the exact opposite of what George Soros says. He is wanted for market manipulation and fraud in many countries. Stick to Rogers, just a more honest example of a world-class investor.
Soros believes in more regulation in the markets. He forgets that the market is just a group of people. Adding more regulation will only further solidify the power in the hands of the few, resulting in a new world order. He doesn't understand basic economic principles.
@PanicAndHysteria Haven't you heard of separation of powers. It's essential in markets and politics. In market we have antitrust laws and many other laws that helps its function. Do you also think referees in sports are only there to hamper the sport? And traffic rules, unnecssary?
@PanicAndHysteria He forgot to say that that it's not the market that created the bubble. It was easy credit from Federal Reserve. And plus he forgot to say that banks wasn't responsible for the risk they had been taking. If banks would be borrowed money at the market rates from people savings, it would never ever happened this bubble. This was preplanned
Who does this Bum Soros think he is? How did it come about that people listen to him like they do to Kiss-ass-inger. This Bum must have cheated a lot of people to get Rich and now he's a Spokesman for the United States? He supports China because that’s where all his Globalist Banker friends Invested to get even more Wealthy and us stupid ass American’s listen to these Bums!!! Guy’s like this are going to destroy our country to bring China’s Economy up to help their Investment’s. Wake Up People
This Bum Jim Rogers tells people to teach their kids Mandarin Chinese and to Invest in China & he lives in Asia. You know why? Because his partners, the Globalist Bankers and his friend George Soros invested in China and they want you to make China the World Power & to bring America down and you are losing your jobs. All the stuff we buy is from China, America makes nothing anymore and stupid Americans say Nothing, they just keep buying China's Toxic Waste. Soon we will be Slaves to China
@rocksiphone A huge problem is that when informed people were criticizing and agitating against corporate America and their political flunkies for outsourcing manufacturing jobs, they were being ignored or attacked by 'true' Americans. So don't blame China, they've got huge problems themselves. The blame is with us. And Jim Rogers even if I don't agree with his views, is a guy who obviously likes money and knows how to make it. He's just going where the money is.
Hillary Clinton is being preened to take President Maobama's place. Both Obama and Hilary answer to George Soros who contributed to both and who has the mainstream media in his back pocket. He gets Obama to take the Country to extreme socialism passing treasonous legislation against the will of the American people, then gets Hillary in office. Our dollar is on the verge of collapse, and our sovereignty is threatened as a direct result of legislation and lack of leadership.
@FreedomInAmerica Sometimes, I can't help but think that half of America needs to be committed to a mental asylum, especially when I read ridiculous comments like this. You obviously have no evidence for these ridiculous unsubstantiated claims, it is nothing more than childish conjecture stemming from absurd partisanship. Your YT name may allude to freedom in America but it seems that you need to be confined to a safely guarded, secure containment facility.
First he says that regulators create moral hazard. Then he says markets couldn't survive without regulators. Then he says moral hazard happens in markets. You're losing it George...
Soros, is so foolish. Old age must be messing with his thinking. First he correctly says, "regulators can't recognized bubbles", then follows it up with, "when they grow to big they can be recognized" WTF?!?
Bubbles and bottoms will always fool most of the players. That's why they form! Even Alan Greenspan thought the stock market was floating on "irrational exuberance" in 1997 but for the last 13 years the markets have traded above his bubble level 99% of the time! George, go home!
my name is abtar, i represent terrorist orgsnization is Mogadishu. I need help kill niggers and jews. Obama is nigger and jew combine. he greater of two evils please help stop. Mine group has warehouse and many bomb ingredients. we almost there. help me out with some support. Youtuber delete my video and say i can't put it up, motherfuckers. please help out.
The Keynsian v Austrian argument people make is a farce. When things are good, gov'ment should spend less and tax more, when things are bad, gov'ment should spend more and tax less. The problem we have today is because the "W" gov'ment and others around the world, spent more and taxed less when things were good, perpetuating a bubble which will always ultimately collapse. Today, we have to spend and cut middle class taxes to maintain standard of living.
@realwisconsinnews You are a fool without a clue about economics. The bubble has almost nothing to do with taxing/spending levels. It has almost everything to do with interest rates being manipulated by central banks
@jimberkt the problem with this economy is the repub trickle down econ theory DONT WORK. it leads to a short term boom followed by a longer term bust.. read your history. the coolidge repubs did interest cuts and tax breaks and deregulation of the banks and they gave us the 29 crash..Reagen and bush did trickle down which was a mirror of coolidge and bang 1986 lincoln savings started the major failures 1988 recession. bushpunk did a mirror image 2006 indymac failed. 2008 recession.same stupidity
@tbaarr1 the problem with the economy is that it is owned by international banks. Of course they will give tax breaks to themselves. Money is debt. Stop paying your taxes, take your money out of the bank. Buy gold. Destroy the banking cartels. Simple.
@jimberkt hmm dont pay taxes.. i believe westley snipes just started a 3 year fed jail term for doing that..and gold is overpriced. the only reason its so high is so that the guys that bought debt when gold was 300 an ounce , wont call their notes. as those notes are worth 1/5 of their value in hard currency today. as for the banks that the repubs love. i hurt them by supporting the other guys
@tbaarr1 wesley has the honour of being a political prisoner. Gold is worth the same it has always been, it's just the dollars in your pocket have been diluted. Cant remember the last time i heard a Democrat decrying the banks. I do remember the most liberal president ever supporting further massive quantitative easing (that's the dollar dilution i mentioned before) to give to large banks and corporations. Republican Ron Paul does want to get rid of fractional reserve banking : )
@jimberkt the dollar dillution was started by bushpunk to keep china from forclosing on this country..When they started buying our t bills the 300 bucks bought an ounce of gold now at 1400-1500 that means those t bills are worth 1/5 ie not worth calling. Ron paul is an idiot who says global warming is a lie. His so called science is about as competant as the intelligent design losers that now support the repub party. And all obama is doing is exactly what FDR did to fix that repub mess
@tbaarr1 Lol you think someone is an idiot because they dont believe someone who tells them they can predict the future. No wonder you lap up kenseyan soothsaying. Do you know anything about the science behind complexity theory or weather modelling? Unlikely.
Dollar dilution was started by the fed just before the depression, ramped up by nixon and brought to its climax by bush. FDR at least built useful infrastructure, Obama has built new offices for Goldman Sachs and nothing else.
@jimberkt unlike you evidently yes I do I am an outsourced electrical engineer with a minor in chemistry and industrial and mechanical engineering. the rising water levels in florida and in holland prove global warming is melting the ice caps..THIS IS FACT. That make ron paul a narrow minded idiot and you as well if you support him. I bet you believe the hollocast never happened too. and as for dollar dilution starting before the great depression. Thats your repubs crapitalism failing again
@tbaarr1 you mean you're an electrician. Weather modelling is a little more complex than changing a light bulb. Do you not think it is slightly arrogant to claim that rising water levels in florida make global warming a fact. Can you show mw one reputable scientist that would make such a claim? Maybe they would claim it was a theorywithstrong evidence to back it up but i dont think any scientists claim anything to be fact. That would seem to be contrary to scientific principles.
@jimberkt BE SURE the levels are rising because more of the polar ice caps are melting. they are melting due to global warming and due to pollution soot that falls to the ground on the ice and snow and helps the melt because black absorbs heat and white reflects heat ..so soot covered snow from carbon polluters increase melt.. .you are truely a waste of skin. because you use baseless words as facts.. like your tea party heroes rushpunk and beck do. your tea party is a repunk joke
@tbaarr1 Are you a millionaire? Since you can predict the future im sure you have used your magical powers to predict the lottery numbers. No? That's very surprising.
@tbaarr1 and i suppose you think Barney Frank is noble for passing legislation that FORCED banks to lend to minorities who couldnt pay for homes that were massively overpriced. Now huge numbers of african americans are in negative equity with huge debts they can never hope to pay off leaving their families poor for generations. I suppose that's not racist as long as he agrees that global warming is 100% incontestible fact and that anyone who isnt a liberal technocrat is racist.
@jimberkt NO I think the banks who were unregulated due to PHIL GRAMM shystered and doctored loan apps to make them appear to fit the guidelines that franks wanted. they did this with sub prime/ adjustable rate loan start rates that made it look like the black people could afford those loans. The problem you now have is that I WAS IN THE REAL ESTATE BUSINESS in 1987 -1988. I watched people be conned into homes by realtors and their banking co conspirators first hand. put blame correctly
@tbaarr1 So it was your fault then seeing as you profited from people being put into homes they couldnt afford (though im pretty sure most of the sub primes happened post 88) but you are clearly omniscient since you can predict the future and seem to have had every job going (finding it hard to hold one down? 87-88 seems like a long time to work in real estate)
@jimberkt Thats right continue to ignore an inconvienent truth.. just like you ignore the fact that raygun doubled the national debt from 30-60% and bushpunk did the same thing ..he added 30% in his 8 years..be sure to ignore the paul guys whose jackboots were on the face of the reporter this year.. be sure to ignore that the raygun and bush econ policy was a mirror image of coolidge..BE REAL SURE TO IGNORE THE FACT that the TEA party is corp backed by the KOCH BRO's of kansas..GRASSROOTS MY Ass
@tbaarr1 And how many enormous corporations finance the democrats and republicans? Only being sponsored by one marginal corporation is a pretty good ratio. I wasn't pro tea party before but now that you've made that point i think ill change my mind.
I hope they kick the crap out of more reporters. No organisation has been more complicit in establishment corruption over the last few years than the so called fourth estate.
Respond to this video...I knew this recession was coming I knew the banks were going to fail again. I even posted it in my blog in 2007 at AS TBAAR SEES IT..ITs the 1st post
@jimberkt Exept for his wacky religious views, Bush was every bit the liberal Obama is. This is why the tea party began! We are sick and tired of failed big government programs and policies started by democrats and republicans in name only. Bush pushed for more minority home ownership, huge welfare prescription programs, big liberal spending in Africa, liberal alternative fuel programs that COST energy like ethanol solar and wind.
Soros is saying that we need to have regulators intervene to prevent a major economic catastrophe from occuring by lowering interest rates, QE and so on.
What is inherently wrong with Soros pro-intervention ideas as it prevents to some extent the experimentation/testing of market bottoms?
Rogers did say that dropping the ball is necessary and admitted that it would be painful for a while, so why test test the bottom at all?
In a truly free market (which we don't have), prices, profit and loss represent something real and relevant - the wishes of individuals cast against realistic, finite supply of inputs (materials, labor, time), ranked according to desirability. Prices make things happen, materials move - they coordinate a necessarily decentralized system, all with maximum human freedom. Consult Mises for serious study: h t t p://mises.org/daily/2321
@deahunt ya and a perfect example of that is why we now have health regulation .so insurance companies can drop you when you get sick and might cost them money.your free market unregulated economy has failed 3 times in 80 years, all under repunk rule coolidge then raygun then bushpunk all three had bubble bursts and a stock market crash at the end of their second term
you think i'm a republican? LOL. the republicans, regardless of what they claim, have never been in favor of free markets. Just like Dems, they do whatever they need to retain power. Fiddling with a few regulations means nothing when the Federal Reserve is distorting the basic structure of production. The Fed's policy blows up bubbles, which must burst. Sometimes they can act to re-inflate the bubble, as in 2001, before we feel much effect, which feeds a later bubble.
@deahunt ya so why was it repunks that initiated the bills necessary to allow the bubbles to even happen and why did the bubbles alaways happen under repunk terms.. 1982 jake garn from utah repunk.. and 1999 phil gramm repunk from texas rammed thru the bills that allowed these bubbles to happen.. and the deregulation of the banks inder coolidge did the exact same thing in the 20's that lead to the 1929 crash
@tbaarr1 Bubbles come from interest rate policy, not just regulations. Repubs, like Dems, are more interested in appearing to be in favor of what they claim to be about, than to actually be doing something. Slash a few regulations, help a campaign donor. Add a few regulations, help another. 2001, the tech bubble burst. Why don't you blame Clinton? Do you know "the first Dem" Pres Andrew Jackson opposed central banks? Since 1913, dollar has lost 95% of value.
@deahunt because clinton cleaned up the raygun bush mess..clinton dropped the national debt from the 60+ % that raygun and bush had raised from 30% to 60% ..back to mid 50% but then bushpunk added 29% to the debt..as for the interest rates.. to 8 year repub terms that have mirror image bubble bursts is proof that they practice CRAPITALISM . not capitalism . thats why I blame the repubs period..and garn and gramm did DEREGULATION BILLS so the banks could run unregulated so regulation IS needed
@tbaarr1 I call it corporatism, and the Dems do it too. I am not in favor of Republican crony capitalism. Clinton could have vetoed Gramm's bill. The primary problem isn't legislation that allows banks to combine services/activities. It's the public loss/private gain and moral hazard. Top banks should be capable of bankruptcy, instead they've got their guys in govt looking out for them. Goldman boy Paulson became Treas Sec, NY Fed's Geithner became Treas Sec. "punk" is a compliment. in my book.
@deahunt you seem to forget the bill was slipped into a larger 33k page bill that held a lot of stuff clinton wanted to pass and that the repunk controlled congress still held impeachment over clinton and that the bill was done in the before christmas session when most senators were home..IE it was a planned ploy bill an intentional abuse.done by a republican.. just like the crud that tom delay claimed was congress business that he is now being prosecuted for..the johnboy policy is a example now
@deahunt bainboy was part of the so called repunk pledge for america to cut spending..yet he wants corp who have done nothing but american outsource jobs to keep their tax cuts and their loopholes for outsourcing..with out creating american jobs to help defer the cost of the tax cuts..and johnboy mccain the lincoln saving 5 gang member is blocking everything he can..instead of trying to help common folk..and the repunk supporters think thats a good thing..yea 700billion for the rich.. BULL
@tbaarr1 re: Garn/Gramm laws: that was not free market law. Government has no place in housing finance at all. You'll never regulate away the problems caused by regulation and centralization w/o destroying wealth and freedom entirely. h t t p://mises.org/daily/3544
New York wanted control over the country banks, and they got it. They shut down the small banks and get the big ones bailed out. h t t p://mises.org/daily/3210
@tbaarr1 I have been reading a lot on these things from both sides and both sound compelling at times, can you be more specific with your response assuming you do have a legitimate one..
@qwertynasigoreng 1921 -1929 coolidge did bank deregulation and cut taxes and interest rates bang 8 years later big bubble burst and a stock market crash
1981-1988 raygun did the same thing . 1986.lincoln savings was the first major failure follow by the rest of the fdic insured S/L industry oct 1987 major crash and a small recession in 88 taxes raised in 89
2001-2008 same crap done by bushpunk same bubble burst in 2006 ..its almost a mirror image of the 1986 burst. and crash and recession
@qwertynasigoreng an intervention just like in 1989 and 1933 is the only way to stop what happened in 1932 when hoover had millions unemployed and people killing each other for food and we had dustbowl. the reason why the 88 and the 08 crash occured is repub jake garn in 1982 pushed through a bill that gutted glass stegall and let the S/L go unregulated .and then greed took over. just like repub phill gramm did in 1999 and thus aig was free to do it again . google bank deregulation see 4 ur self
@tbaarr1 Yes I have been thinking along the line you said and it hits me in the gut when people like Rogers & this chinese guy say as that you should let the system collapse, find its own bottom and restart over.
Being a worker i would expect the system to recover as fast as possible so as to be able to keep my job rather let the failures collapse and bring down the system just for the sake of demonstrating a moral point though i could be wrong.
Thanks bro for your two cents (or maybe more).haha
@qwertynasigoreng like i said.. we already did that once..it was called the great depression. been there done that dont want to do it again..thats what pisses me off about repubs..they do the same thing and expect different results..all they get is the same damn mess as a result. thats insanity in my book. and now john boy repunk wants to not follow the exact path daddy bush followed in 89 .he wants the rich THAT AINT CREATED JOBS in america WITH THEIR TAX BREAKS .to keep their tax breaks. BULL
@qwertynasigoreng buthe loser wont allow 55 billion to help the unemployed. but he will allow 700billion for the rich punk tax breaks. he is a real piece of work that bum is
@tbaarr1 Sorry if i may have a slightly diff view, but politicians aren't totally in control of all their decisions as they have to payback many constituents who have funded their campaigns and all, even if it is to the detriment of society..
I ask you, would you feel more obligated to serve the people of a nation once you are elected or a small minority of people with a lot of money who have funneled/channeled money to you to compete for a top post?
@qwertynasigoreng what is needed is bank regulation and accountability.. every dummyed up loan that was oversold between 03-08 should have been grounds to prosecute that banker or broker. evry aig guy that wrote a bad swap should have been criminally liable for the failures and lost all their bonuses. you dont reward failure
@tbaarr1 Yes, i agree that banks particularly more than any other industry should in fact be regulated and accountable as their primary role is to be the blood stream of any capitalist economy not to be injecting steroids in the blood stream..
The problem is since these guys (bankers) have so much cash and credit on their hands, it must be very tempting to want to use it and take risks to make more returns just for the hell of it (not to mention higher bonuses)..
@qwertynasigoreng and they should be totally and personally responsible for every failure . paid for directly out of their bonuses..ie every failure is removed and if they all fail the punk should be fired and sued for bad faith business practices. if them punks went to atlantic city and gambled bank money it would be called embezzlement
@tbaarr1 I agree with punishing employees with malicious intent (ex. jail time, fines...etc).but how do you separate malicious intent employees from employees who made honest mistakes? how do you read their thoughts and thought systems?
tbaarr1 is a full-on Keynesian. No amount is too big for a bailout; no amount of intervention is too much. qwerty you might benefit more from a book on the history of economic thought than from youtube comments with limited characters.
@qwertynasigoreng my response is all historic fact.. just like the fact that under 12 years raygun and bush the national debt when from 30% gdp to 60% and baby bush turn the 56% clinton debt into 85% and yet cons call themselves fiscal managers. bull
Also, I should mention that lowering interest rates screws up resource allocation and time preferences, thereby blowing up a new bubble. Asset classes are not affected equally by inflation; it may flow more into one good than another, usually those nearer to the Fed's inflation (say, stocks, housing, credit etc). Pro-intervention ideas guarantee more trouble in the future. Recall that Austrian economists predicted this crash while interventionists claimed things were fine.
First, stop doing all the wrong things. The Federal Reserve is a cartel of private banks; its creation must be repealed. No one man should have such influence over 300 million people. They create credit from nothing and feed insolvency. Property rights enforced and liablity caps removed, so that banks are under the threat of bankruptcy. No paper money for the government to manipulate. No government loan insurance, bc it creates moral hazard. No price fixing, quotas, etc.
The Chinaman is 100% Soros argument is not convincing AT ALL! HE KNOWS what he's doing! It's DELIBERATE!! Gee Georgie, your boy Greenspan couldnt recognize the bubble? Peter Schiff could!, Mark Faber could! Gerry Celente could! Many others could! GEORGE SOROS LIES, LIES, LIES! He's the Socialist PIG that is the puppetmaster destroying the USA and trying to make it into his vision of Utopia! See how he stutters when presented with the 1920 argument? THAT EVIL FUCK!! HE LIES HE LIES HE LIES!!!
@TheIronKeel ya but at least he is transparent and will open his books to scrutiny as to all his political support.. your repunk boys the Koch brothers wont even return calls.you really need to stop listening to rush limpdick lies. or are you a paid koch brothers shill.like john boy from ohio
SOROS IS A "SUBVERSIVE" (his own admission) SEDITIOUS DEVIL who needs a hydrashok in his noodle. "The Evidence Shows That They Cant" he says? The free market has self-correcting mechanisms called "depressions" ( downgraded to the term "recession"). THE CHINAMAN SITES KEY EVIDENCE: The 1920 Great Depression that the market self corrected in 18 months with NO FED INTERVENTION! Soros ducks 1920 & jumps to '29 The concept of the Central Bank has FAILED MISERABLY! Ron Paul is Right: END THE FED!!
Soros argument is wrong. He knows it. The reason he likes it is it works in his favour. If money was expensive it would not flow so easily into "bubbles" If interest rates were 10%, houses wouldn't have jumped and then crashed. Good on Asian fellow for calling him on it. He should have called Soros a crook and had guards drag him off the stage and had him tried for crimes against humanity.
Wow, lol. I am seriously surprised to see how surprised Soros was to hear the gov't extended the '29 correction / crash argument. It was like he heard it for the first time. Talk about scary. Makes me laugh and wonder how easily (or perhaps not so easily) a billionaire could be convinced out of his views if surrounded by sharp minds and cogent explanations.
The view Soros has about the market is the same most have who receive their education from the London school and other top establishment economic schools, that of endless, arbitrary feedback like spiraling deflation or bubbles. This of course is laughably mistaken. For example, Soros says "they don't correct it and play the bubble until it collapses." This is true, however, he implies the collapse isn't the correction (how long the correction is delayed depends on intervention). Flag number
If regulation of the economic system isn't necessary then neither should be traffic lights. How about free market for the drug gangs. A few bullets, a few deaths, the chaos will sort itself out without big government law enforcement intrusion...right?
@wjksea Intersections without traffic lights or signs do exist, and don't result in chaos. Restrict drug supply and you will drive up prices; make it illegal and the only way they have to settle disagreement/fraud is with violence. The demand is never going away, and government will never control supply. I think you have dismissed a basic understanding of property rights and right of contract. For example, a road owner might install traffic lights to make more money.
"markets create bubbles" hahaha "without the fed, markets would collapse" whew...........Communists schooling a wealthy American on capitalism........Hillarious and sad
Soro's say ''ever since you have financial markets you have financial crisis.'', what he means is ''ever since you had central banks, you have financial crisis''
If you assume that financial markets depend on fractional reserve banking, central banks that set interest rates (not markets) and unsound fiat money - then what he says is true.
However, if you use sound money - with a value fixed to an inflexible asset or commodity (real estate or precious metals) - and you demand no fraud (that is 100% bank reserves) and you allow markets to set their own rates - then what he is talking is fantasy and rubbish.
@tbaarr1 Well the Dems policy is worse than the Repubs, I dont know why you say 'you repubs' though, I'm a UK citizen, so have no vote in the USA so can't really be called a repub, I do support the Conservatives in the UK on most of their policy, but if I really wanted a party to rule the UK it would be the Liberal Party of a 150 years ago...
@FiftyOneDegreesNorth hate to tell you but the dem policy is the only way to fix this repub mess .. just like we fixed the last recession in 1988..that their boy raygun caused..it costs money to fix major screwups..and the repubs are real good at screwing the economy and the middle class
Give it up you two: there is no difference between republicans and democrats! We've been accelerating spending since Ike and that hasn't changed course one iota through any administration. The rest has been window dressing and choosing who bears the costs.
The problem with partisan wankers like you lot is when both McCain and Obama rushed to the capital to pass TARP, you all think this was the appropriate action. You're both part of the problem!
@sanarkhos hey dude we already did the DO NOTHING RUSHLIMPDICK approach.. it resulted in the great depression. you may have heard about it..It was in all the papers that had not gone bankrupt. 25% unemployment was not an option again.. as for your statement that there is no difference between dems and pugs ..refer to history again. it was the repug coolidge that let the bank run unregulated in the 20's that gave us the crash and it was the deregulation pugs that gave us the crash of 2008
@sanarkhos no you need to read your history..the crash happened in 1929 under coolidge and hoover .BOTH repugs..it was 3 years in to the dustbowl, because hoover did nothing, when roosevelt took office in 1932... God were you born stupid or do you just practice stupid daily..
First of all we had a severe crash in 1921 and there was no depression. We had a depression after 1929 due to Hoover and Roosevelt's reaction to the crash!
You should check out America's Great Depression for a real history lesson instead of whatever garbage you've been fed by some institution.
@sanarkhos dude again roosevelt did not get in till 1932. so how was he responsible for a crash in 1929 that lead to the depression grabing hold by 1930 ....show some accurate links to prove your case or shut up.get a life you loser.. go piss off
You're clearly unable to read, because I explicitly pointed out that crashes to not cause depressions. Rather the knee-jerk reaction to the 1929 crash caused the depression, or else it would have resolved itself like the 1920-21 crash.
So you can take your ignorant (literally), rude, uninformed ass off the internet and read a book, or just wallow in your own pomposity. Your choice.
@sanarkhos bull ..the crash of 08 clearly stopped this country in its tracks..in feb of 08 the only freight that moved was staple foods.. i know this for a fact because i haul freight..so your opinion is worthless as facts prove it wrong.. obamas stimulus caused freight to pick up in less than 3 months..as non staples were being bought AGAIN.. and do show me the exact post where you stated that..as you are the ass that assumes i did not read your lies and stupidity
Dude, quantity of freight could be an indicator of growth just as much as waste! The soviets were shipping tons of useless crap all the way up to the end!
You won't have to take my word for it however. Far from a recovery, Obama's continuation of Bush's policies will compound the recession. Double-dip nothing, they will have to find a term more severe than that!
As for which post you ignored, look for "First of all we had a severe crash in 1921 and there was no depression".
@sanarkhos thats right staple freight and car parts and elcetronics and kitty litter are useless crap to you.. to common folk they are everyday goods.. but you go right ahead and believe your bull. I dont..as for the crash of 1921 its just like the 87 crash and the 88 housing bubble burst recession that daddybush started to clean up by BAILING OUT THE SAVINGS IN LOANS.. just like obama did the banks.. and do you forget that raygun bailed out chrysler just like obama balied out gm and chrysler
Respond to this video...the reason we had no depression in 21 is the same reason we had no depression in 73 when nam ended..we just had a recession ..unfortunately nixon was so busy covering his watergate arse that he did nothing to fix the economy except remove the gold standard ..and then hand off the mess to ford who handed it to carter..whats amazing is that the repub fix under coolidge is a mirror image of the repub fix under raygun. and both flopped due to banker greed
This is the grand daddy of them all. Investors lost 86% of their money over this 813 day beast. This market crash combined with the 1929 crash, makes up the Great Depression. In just two months, September and October, the stock market had lost 40 percent of its value.
Respond to this video... . Black Tuesday usually marks the point where the Roaring 20’s ended and the Great Depression started. The stock market continued to fall until bottoming out in July of 1932..ie 6 months after roosevelt got in ..his policies stabilized the market enough to end the drops..just like obamas methods have stabilized the market and caused it to rise to 11k from the bush 8k level..and unemployment is stalled at 10% instead of 25% like 1931
Respond to this video...i just googled the 21 crash and thats what lead coolidge to dereg the financial industry that lead to the 29 crash..just like the 1982 garn dereg bill lead to the 87 crash and 88 recession and the phil gram dereg bill of 1999 lead to the feb 07 crash followed 08 crash and recession. because repug bandaids lead to greed and corrupt bankers and guys like mike millikan..keep lying now ..I know you are too arrogant to accept that the bailout was necessary
It's hypocritical for you to call anyone arrogant. Your'e reeking of it.
The bailouts only lead to zombie banks like Japan has instead of a clean house. Once again, if you want to understand the real causal effects behind the last depression you should check out America's Great Depression.
@sanarkhos yyourr obviously a dumbass know it all that lives in yor mommas basement because your too stupid to admit that fdr fixed the mess caused by the repunks ..so now i will tell you to F OFF YOUR WRONG obama will fix this repunk mess just like FDR did.. and HE will learn from the mistakes of 1936 and not repeat them.. your obviously one of those jackasses that want free markets to fix themselves. and ignore the greed factor..Thats whgat causeed both crashes.. so piss off YOUR WRONG BOY
@sanarkhos for your dumb ass to say hoover did anything to help the american poor during the depression..is bullshit..therefore you are full of brown S..and the fact that you wont provide any links to why you say what you state ..proves your a stinking pile of brown..and i aint wasting my time on your pile of S..remarks
Well here you have it folks, proof that tbaarr1 is a demagogue of the first order.
Hey asshole, where did I say that Hoover did anything to help the poor? Where? Oh that's right, nowhere, because you're so intellectually feeble that you can only knock down a straw-man.
So, again, did I say Hoover helped the poor, or are you an asshole? Which is it?
It's amazing how you can be so full of yourself considering how little of you there is to start with.
@sanarkhos you stated hoover did something to help stop the depression..he did nothing..thats what i meant by he did nothing to help the poor. your the loser that wont clearly state what bugs you..so piss off till you clearly state what he did..as for what obama has done..its working..its just slow.. it takes more than 2 years to fix a 8 year mess. as for me personally.. i bet i am better off than your punk ass as i learned from history and anticipated this recession. based on the 1988 recession
"...These measures have maintained a higher degree of consumption than would otherwise have been the case. They have thus prevented a large measure of unemployment. . . . Our present experience in relief should form the basis of even more amplified plans in the future."
President Herbert Hoover, bragging about his interventionisms in front of the American Bankers' Association
FDR then expanded his policies lock-step
Not that any part of the Hoover/FDR New Deal helped the poor.
It goes on and on (read the book!), but don't take MY word for it:
"I determined that it was my duty, even without precedent, to call upon the business of the country for coordinated and constructive action to resist the forces of disintegration. The business community, the bankers, labor, and the government have cooperated in wider spread measures of mitigation than have ever been attempted before. Our bankers and the reserve system have carried the country through the credit . . ."
". . . storm without impairment. Our leading business concerns have sustained wages, have distributed employment, have expedited heavy construction. The Government has expanded public works, assisted in credit to agriculture, and has restricted immigration..."
If you think "hoover did nothing", you might check out Murray Rothbard's excellent America's Great Depression. Hoover intervened massively. You don't even have to buy the book, it's right here: h t t p://mises.org/rothbard/agd.pdf
@sanarkhos i now correct myself..roosevelt was elected in nov 1932 so he took office in 1933..the market had bottomed in july 1932 and the depression was in full swing..HOW THE HECK IS HIS RESPONSIBLE ..LEARN YOUR STINKING HISTORY LOSER..keep lying ..your own words remove all doubt of your ignorance
Once again you've demonstrated your inability to read what other people post. I blame both Hoover and Roosevelt (who basically continued Hoover's program of intervention). In fact, Roosevelt didn't add that much.
It was a bit like Bush's TARP vs Obama's. It's more of a continuum than a change in policy.
Again, America's Great Depression goes into this history welll BEFORE the crash and what steps BOTH administrations took.
ONCE AGAIN I'll have to point out (because you seem unable to read my posts) that crashes to not lead to depressions, rather the politicians REACTION to them do!
The crash of 1920-21 didn't lead to depression, and neither would have the crash of 1929 had prices and wages allowed to correct. There would have been necessary deflation and liquidation of bad loans/investments, and then it would have been reinvested in productive ventures.
@sanarkhos now the biggest difference between dems and repugs.. bushpunk outsourced millions of american jobs and did not lift 1 finger to help those he caused to be unemployed to pay their bills when their bennies ran out.. meanwhile obama has helped extend bennies a few times..and lets not forget that raygun bailed out chrysler in the 80's just like obama did GM.. you qualify for the statement from missouri dude. DONT Piss down my leg and tell me its raining. your full of it
@sanarkhos the banks had to be stabilized otherwise we had the great depression again..but again your obviously to ignorant to learn from true history.. i bet you also believe that the germans did not cause the holocaust either..and i bet you deny global warming is a problem too
And furthermore from what I have read and been told, it was heard in private conversation that Rogers left Soros because Soros cheated him a bit, and was operating dishonestly in respect to the partnership and I for one believe that after seeing what Soros did in France.
Jim Rogers did NOT work for him, they partnered. I dont like his version, as it conflicts with his own written account of working with Rogers. Soros is dishonest, very very dishonest.
Nonsense, for Thousands of years grain, financial exchange, and multiple markets functioned with rise and fall, I find it incredibly disingenuous for Soros to argue that the global economy would collapse based on the failings of a few Wall Street firms, the American housing market, and an Insurance conglomerate. And its ANGERING to try to compare this situation to the 1929 crash, anyone with any inkling of financial literacy knows the parallels are totally superficial.
I never realized how dumb George Soros is before I saw this video. No market can recover without regulation? If that were true the world would have ended centuries ago. Soros wants governments to borrow so the money will re-inflate the stocks he owns. Has nothing to do with improving the economy.
@NOLDaemon Dumb people don't become self made billionaires. Soros is anything but dumb, he's manipulative and knows exactly what he's doing. He has everything to gain from more government intervention.
@onetondrumbum Oh absolutely! And its very angering to me that his statements are so disingenous. Very angering, he's a greedy, selfish, egotistical man with no real moral fiber. His past deeds have shown him for what he is, in my opinion.
This so called great capitalist is a bigger socialist than the chinese communist!
AFRIKTODAY 1 month ago
George Soros is so full of Shit. How can he be famous, maybe famous for the wrong reason!!
tsotinbabai 2 months ago
Chinese Rothbard vs Soros socialist thinking. How times change...
themfu 2 months ago 2
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Adriaan1950 3 months ago
The interviewer is some sorta idiot!
Yeahright59643 4 months ago
So-called finance guru Soros didn't even understand what the Chinaman was talking about as he so eloquently described the difference between the outcomes of interventionist Hoover (and Roosevelt) beginning in 1929 and the non-interventionist (capitalist) Harding in 1920. Everyone should learn about the depression of 1920 - we could have had one in 2008. But no, we will have the 1929 version - long and painful featuring wars and a brave new world.
marrazzousa 4 months ago
sounds like someone is jealous of somebody
pdxeddie1111 4 months ago
cCearly these Chinese have read Rothbard
jpkm123 4 months ago
Jim Rogers "didn't want seven people" from the Fed "working next to him, so they had to part company". And since Rogers isn't making investment decisions reliant on a printing press that is robbing the value of dollars saved, he's "not a great investor" anymore.
heymisterderp 4 months ago
Sounds like Chinese history books weren't written by FDR apologists, like ours were (unfortunately).
edsanville 5 months ago 2
These Chinese says themselves. What are you trying to fool? First of all if not regulation there wouldn't be these bubbles. They made lax lending standard, they created easy credit without any collateral from bank. If you would have pure pure free market you would have some kind of jungle from employee standpoint., but you would have full employment forever, maybe with lower salaries but still.
kessass83 5 months ago
usa will fall, china will rise..china work hard and save...usa is lazy and drink
mikailmari 6 months ago
@mikailmari First off, while I'm not an american, the USA is far from lazy and drunk( which I presume is what you were trying to say with that bad english). They are probably the most creative and industriast people on the planet who have far surpassed any other civilization on the planet. China isn't rising at all, that economy is an illusion built on the hope that those in the west will be able to continue buying the crap they make, an illusion that is about to shatter.
daveofsorrow 5 months ago
@daveofsorrow The problem with China is that Gov intervene in every aspect of your life. In order for china to flourish they need to create a free market economy, to allow people themselves to decide where to live, what to do and etc. China is only good today to copy everything what other nations do. They need to open their creativity and don't be afraid to experiment with it. They need to create something what others don't have yet.
kessass83 5 months ago
Chinese guy school Soros.
3098luis 6 months ago
George Soros probably had hard time trying to understand the questions from the chinese hosts !!! it was obvious .!! Better get good speaking english hosts next time..chinese media !!!
Apvatar3000 7 months ago
I agree with the Chinamen over Soros lol
AllTheSame711 7 months ago 7
@AllTheSame711 You must be really old or ignorant to call the Chinese , Chinamen. Are you still living in Bonanza?
TKOMC3113 3 months ago
@TKOMC3113 Who gives a fuck? It's not a slur so get over it.
CharlesDilkes 1 month ago
@CharlesDilkes You wrote:
"Who gives a fuck?.."
Any civilized person who doesn't hold a raggle taggle collection of bronze age myths up as a guiding standard, you vile, disgusting, pathologically dishonest christian cunt.
"It's not a slur .."
Yes it is, you stupid motherfucker.
"so get over it"
You're hardly in a position to be lecturing people about equanimity, you apoplectic, neurotic, stupid motherfucker.
You lose.
Lol.
whyteay 1 month ago
@whyteay Fuck off you cunt. I swear to God I'm going to find where you live and put a fuckin' bullet through your head - you're logging onto my account looking for posts I've made and are trying to wind me up?
The Chinese economist is Zhang Wei Yin, someone who I follow closely - he's a free market economist and it's the substance of his arguments that matter; detracting from the substance who implicit accusations of racism are facile. Now fuck off.
CharlesDilkes 1 month ago
@CharlesDilkes You wrote: "I swear to God .."
No point doing that, he doesn't exist, you stupid motherfucker.
"I'm going to find where you live .."
No chance of that, you stupid motherfucker.
"..and put a fuckin' bullet through your head"
Nope, you've just incriminated yourself you stupid motherfucker.
"you're logging onto my account looking for posts I've made and are trying to wind me up?"
No I'm not, you lying, deceitful, vile, mealy mouthed christian cunt.
LOL.
whyteay 1 month ago
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@AllTheSame711 You must be really old or ignorant to call the Chinese , Chinamen. Are you still living in Bonanza?
TKOMC3113 3 months ago
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LEARN THE INSIDER SECRETS OF THE SUPER WEALTHY !!
30billionaireschangingtheworld dot kom
Steventk26 8 months ago
give that chinese guy a medal! i did not expect to hear someone espousing what is basically austrian theory in this video! good to know there is still sanity left in the world
bobjimjones 10 months ago 2
Probably best to do the exact opposite of what George Soros says. He is wanted for market manipulation and fraud in many countries. Stick to Rogers, just a more honest example of a world-class investor.
bwheeler83 11 months ago 10
@bwheeler83
Not really... Jim rogers is somewhat of an idiot!
Yeahright59643 4 months ago
@bwheeler83
if you like jim rogers you must also watch 'peter schiff' on youtube.
search for peter schiff and ron paul on youtube.
marc faber is also very good.
hyylo 1 month ago
Soros believes in more regulation in the markets. He forgets that the market is just a group of people. Adding more regulation will only further solidify the power in the hands of the few, resulting in a new world order. He doesn't understand basic economic principles.
PanicAndHysteria 11 months ago
@PanicAndHysteria
I would wager that he understands it very well. Thats why he wants he it. He is not an honest actor IMO.
Equity213 11 months ago
@PanicAndHysteria Haven't you heard of separation of powers. It's essential in markets and politics. In market we have antitrust laws and many other laws that helps its function. Do you also think referees in sports are only there to hamper the sport? And traffic rules, unnecssary?
Gunnarssonsgate 7 months ago
@PanicAndHysteria He forgot to say that that it's not the market that created the bubble. It was easy credit from Federal Reserve. And plus he forgot to say that banks wasn't responsible for the risk they had been taking. If banks would be borrowed money at the market rates from people savings, it would never ever happened this bubble. This was preplanned
kessass83 5 months ago
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Who does this Bum Soros think he is? How did it come about that people listen to him like they do to Kiss-ass-inger. This Bum must have cheated a lot of people to get Rich and now he's a Spokesman for the United States? He supports China because that’s where all his Globalist Banker friends Invested to get even more Wealthy and us stupid ass American’s listen to these Bums!!! Guy’s like this are going to destroy our country to bring China’s Economy up to help their Investment’s. Wake Up People
rocksiphone 1 year ago
This Bum Jim Rogers tells people to teach their kids Mandarin Chinese and to Invest in China & he lives in Asia. You know why? Because his partners, the Globalist Bankers and his friend George Soros invested in China and they want you to make China the World Power & to bring America down and you are losing your jobs. All the stuff we buy is from China, America makes nothing anymore and stupid Americans say Nothing, they just keep buying China's Toxic Waste. Soon we will be Slaves to China
rocksiphone 1 year ago
@rocksiphone A huge problem is that when informed people were criticizing and agitating against corporate America and their political flunkies for outsourcing manufacturing jobs, they were being ignored or attacked by 'true' Americans. So don't blame China, they've got huge problems themselves. The blame is with us. And Jim Rogers even if I don't agree with his views, is a guy who obviously likes money and knows how to make it. He's just going where the money is.
18bites 11 months ago
@18bites It's not China's fault, it's the Greedy Globalist Bankers. China will fall, don't listen to Jim Rogers
rocksiphone 11 months ago
@rocksiphone Jim Rogers is George Soros's friend ? hahahahahahahahaha
EasyGameFR 6 months ago
Hillary Clinton is being preened to take President Maobama's place. Both Obama and Hilary answer to George Soros who contributed to both and who has the mainstream media in his back pocket. He gets Obama to take the Country to extreme socialism passing treasonous legislation against the will of the American people, then gets Hillary in office. Our dollar is on the verge of collapse, and our sovereignty is threatened as a direct result of legislation and lack of leadership.
.
Allen West 2012
FreedomInAmerica 1 year ago
@FreedomInAmerica Sometimes, I can't help but think that half of America needs to be committed to a mental asylum, especially when I read ridiculous comments like this. You obviously have no evidence for these ridiculous unsubstantiated claims, it is nothing more than childish conjecture stemming from absurd partisanship. Your YT name may allude to freedom in America but it seems that you need to be confined to a safely guarded, secure containment facility.
zebbedi 9 months ago
First he says that regulators create moral hazard. Then he says markets couldn't survive without regulators. Then he says moral hazard happens in markets. You're losing it George...
crystalcalia 1 year ago
What a load of crap. A lot of the problems were caused by regulators. Let the market work.
bauler 1 year ago
@bauler
LOL.
a well argumented statement, indeed!
omniscient232 1 year ago
Soros, is so foolish. Old age must be messing with his thinking. First he correctly says, "regulators can't recognized bubbles", then follows it up with, "when they grow to big they can be recognized" WTF?!?
Bubbles and bottoms will always fool most of the players. That's why they form! Even Alan Greenspan thought the stock market was floating on "irrational exuberance" in 1997 but for the last 13 years the markets have traded above his bubble level 99% of the time! George, go home!
tomintroy 1 year ago
The Chinese guy with glasses speaking to Soros doesn't know shit about economics. His English is bad, unable to articulate words, and cocky attitude.
MrJT181 1 year ago
this guy is in on the fix so of course he supports whats going on
jesse2076 1 year ago
my name is abtar, i represent terrorist orgsnization is Mogadishu. I need help kill niggers and jews. Obama is nigger and jew combine. he greater of two evils please help stop. Mine group has warehouse and many bomb ingredients. we almost there. help me out with some support. Youtuber delete my video and say i can't put it up, motherfuckers. please help out.
TheBabymank 1 year ago
The Keynsian v Austrian argument people make is a farce. When things are good, gov'ment should spend less and tax more, when things are bad, gov'ment should spend more and tax less. The problem we have today is because the "W" gov'ment and others around the world, spent more and taxed less when things were good, perpetuating a bubble which will always ultimately collapse. Today, we have to spend and cut middle class taxes to maintain standard of living.
realwisconsinnews 1 year ago
@realwisconsinnews You are a fool without a clue about economics. The bubble has almost nothing to do with taxing/spending levels. It has almost everything to do with interest rates being manipulated by central banks
EyeAmTheIlluminati 1 year ago
@EyeAmTheIlluminati Jim Roger is a lot smarter than George Soros.
sigrho6 1 year ago
the entire Austrian school of economics predicted the bubble... the problem was greenspan was a keynesian so he couldnt see anything
anryth 1 year ago
@anryth which is ironic since Keynsians claim they can predict the future and Austrians claim they cant.
jimberkt 1 year ago
@jimberkt the problem with this economy is the repub trickle down econ theory DONT WORK. it leads to a short term boom followed by a longer term bust.. read your history. the coolidge repubs did interest cuts and tax breaks and deregulation of the banks and they gave us the 29 crash..Reagen and bush did trickle down which was a mirror of coolidge and bang 1986 lincoln savings started the major failures 1988 recession. bushpunk did a mirror image 2006 indymac failed. 2008 recession.same stupidity
tbaarr1 1 year ago
@tbaarr1 the problem with the economy is that it is owned by international banks. Of course they will give tax breaks to themselves. Money is debt. Stop paying your taxes, take your money out of the bank. Buy gold. Destroy the banking cartels. Simple.
jimberkt 1 year ago
@jimberkt hmm dont pay taxes.. i believe westley snipes just started a 3 year fed jail term for doing that..and gold is overpriced. the only reason its so high is so that the guys that bought debt when gold was 300 an ounce , wont call their notes. as those notes are worth 1/5 of their value in hard currency today. as for the banks that the repubs love. i hurt them by supporting the other guys
tbaarr1 1 year ago
@tbaarr1 wesley has the honour of being a political prisoner. Gold is worth the same it has always been, it's just the dollars in your pocket have been diluted. Cant remember the last time i heard a Democrat decrying the banks. I do remember the most liberal president ever supporting further massive quantitative easing (that's the dollar dilution i mentioned before) to give to large banks and corporations. Republican Ron Paul does want to get rid of fractional reserve banking : )
jimberkt 1 year ago
@jimberkt the dollar dillution was started by bushpunk to keep china from forclosing on this country..When they started buying our t bills the 300 bucks bought an ounce of gold now at 1400-1500 that means those t bills are worth 1/5 ie not worth calling. Ron paul is an idiot who says global warming is a lie. His so called science is about as competant as the intelligent design losers that now support the repub party. And all obama is doing is exactly what FDR did to fix that repub mess
tbaarr1 1 year ago
@tbaarr1 Lol you think someone is an idiot because they dont believe someone who tells them they can predict the future. No wonder you lap up kenseyan soothsaying. Do you know anything about the science behind complexity theory or weather modelling? Unlikely.
Dollar dilution was started by the fed just before the depression, ramped up by nixon and brought to its climax by bush. FDR at least built useful infrastructure, Obama has built new offices for Goldman Sachs and nothing else.
jimberkt 1 year ago
@jimberkt unlike you evidently yes I do I am an outsourced electrical engineer with a minor in chemistry and industrial and mechanical engineering. the rising water levels in florida and in holland prove global warming is melting the ice caps..THIS IS FACT. That make ron paul a narrow minded idiot and you as well if you support him. I bet you believe the hollocast never happened too. and as for dollar dilution starting before the great depression. Thats your repubs crapitalism failing again
tbaarr1 1 year ago
@tbaarr1 you mean you're an electrician. Weather modelling is a little more complex than changing a light bulb. Do you not think it is slightly arrogant to claim that rising water levels in florida make global warming a fact. Can you show mw one reputable scientist that would make such a claim? Maybe they would claim it was a theorywithstrong evidence to back it up but i dont think any scientists claim anything to be fact. That would seem to be contrary to scientific principles.
jimberkt 1 year ago
@jimberkt BE SURE the levels are rising because more of the polar ice caps are melting. they are melting due to global warming and due to pollution soot that falls to the ground on the ice and snow and helps the melt because black absorbs heat and white reflects heat ..so soot covered snow from carbon polluters increase melt.. .you are truely a waste of skin. because you use baseless words as facts.. like your tea party heroes rushpunk and beck do. your tea party is a repunk joke
tbaarr1 1 year ago
@tbaarr1 Are you a millionaire? Since you can predict the future im sure you have used your magical powers to predict the lottery numbers. No? That's very surprising.
jimberkt 1 year ago
@tbaarr1 and i suppose you think Barney Frank is noble for passing legislation that FORCED banks to lend to minorities who couldnt pay for homes that were massively overpriced. Now huge numbers of african americans are in negative equity with huge debts they can never hope to pay off leaving their families poor for generations. I suppose that's not racist as long as he agrees that global warming is 100% incontestible fact and that anyone who isnt a liberal technocrat is racist.
jimberkt 1 year ago
@jimberkt NO I think the banks who were unregulated due to PHIL GRAMM shystered and doctored loan apps to make them appear to fit the guidelines that franks wanted. they did this with sub prime/ adjustable rate loan start rates that made it look like the black people could afford those loans. The problem you now have is that I WAS IN THE REAL ESTATE BUSINESS in 1987 -1988. I watched people be conned into homes by realtors and their banking co conspirators first hand. put blame correctly
tbaarr1 1 year ago
@tbaarr1 So it was your fault then seeing as you profited from people being put into homes they couldnt afford (though im pretty sure most of the sub primes happened post 88) but you are clearly omniscient since you can predict the future and seem to have had every job going (finding it hard to hold one down? 87-88 seems like a long time to work in real estate)
jimberkt 1 year ago
@jimberkt Thats right continue to ignore an inconvienent truth.. just like you ignore the fact that raygun doubled the national debt from 30-60% and bushpunk did the same thing ..he added 30% in his 8 years..be sure to ignore the paul guys whose jackboots were on the face of the reporter this year.. be sure to ignore that the raygun and bush econ policy was a mirror image of coolidge..BE REAL SURE TO IGNORE THE FACT that the TEA party is corp backed by the KOCH BRO's of kansas..GRASSROOTS MY Ass
tbaarr1 1 year ago
@tbaarr1 And how many enormous corporations finance the democrats and republicans? Only being sponsored by one marginal corporation is a pretty good ratio. I wasn't pro tea party before but now that you've made that point i think ill change my mind.
I hope they kick the crap out of more reporters. No organisation has been more complicit in establishment corruption over the last few years than the so called fourth estate.
jimberkt 1 year ago
Respond to this video...Or do you forget that coolidge and hoover were repubs
tbaarr1 1 year ago
Respond to this video...I knew this recession was coming I knew the banks were going to fail again. I even posted it in my blog in 2007 at AS TBAAR SEES IT..ITs the 1st post
tbaarr1 1 year ago
@jimberkt Exept for his wacky religious views, Bush was every bit the liberal Obama is. This is why the tea party began! We are sick and tired of failed big government programs and policies started by democrats and republicans in name only. Bush pushed for more minority home ownership, huge welfare prescription programs, big liberal spending in Africa, liberal alternative fuel programs that COST energy like ethanol solar and wind.
tomintroy 1 year ago
:-O HOLY SHIT I CAN'T BELIEVE HE JUST SAID THAT ABOUT ROGERS!?!
kwalk30 1 year ago
Chinese guy!!! I love you!!!!!!!!
kwalk30 1 year ago
The China guy is an Austrian!
wmh1982 1 year ago 2
I think it is so funny when Soros says "come on..come on.."...
Totally made my day!
haha
qwertynasigoreng 1 year ago
i like the face of the host, he was a weather man a week ago, lol
49fiori 1 year ago
Let me get this straight.
Soros is saying that we need to have regulators intervene to prevent a major economic catastrophe from occuring by lowering interest rates, QE and so on.
What is inherently wrong with Soros pro-intervention ideas as it prevents to some extent the experimentation/testing of market bottoms?
Rogers did say that dropping the ball is necessary and admitted that it would be painful for a while, so why test test the bottom at all?
Why should we care to test?
qwertynasigoreng 1 year ago
@qwertynasigoreng
In a truly free market (which we don't have), prices, profit and loss represent something real and relevant - the wishes of individuals cast against realistic, finite supply of inputs (materials, labor, time), ranked according to desirability. Prices make things happen, materials move - they coordinate a necessarily decentralized system, all with maximum human freedom. Consult Mises for serious study: h t t p://mises.org/daily/2321
deahunt 1 year ago
@deahunt ya and a perfect example of that is why we now have health regulation .so insurance companies can drop you when you get sick and might cost them money.your free market unregulated economy has failed 3 times in 80 years, all under repunk rule coolidge then raygun then bushpunk all three had bubble bursts and a stock market crash at the end of their second term
tbaarr1 1 year ago
@tbaarr1
you think i'm a republican? LOL. the republicans, regardless of what they claim, have never been in favor of free markets. Just like Dems, they do whatever they need to retain power. Fiddling with a few regulations means nothing when the Federal Reserve is distorting the basic structure of production. The Fed's policy blows up bubbles, which must burst. Sometimes they can act to re-inflate the bubble, as in 2001, before we feel much effect, which feeds a later bubble.
deahunt 1 year ago
@deahunt ya so why was it repunks that initiated the bills necessary to allow the bubbles to even happen and why did the bubbles alaways happen under repunk terms.. 1982 jake garn from utah repunk.. and 1999 phil gramm repunk from texas rammed thru the bills that allowed these bubbles to happen.. and the deregulation of the banks inder coolidge did the exact same thing in the 20's that lead to the 1929 crash
tbaarr1 1 year ago
@tbaarr1 Bubbles come from interest rate policy, not just regulations. Repubs, like Dems, are more interested in appearing to be in favor of what they claim to be about, than to actually be doing something. Slash a few regulations, help a campaign donor. Add a few regulations, help another. 2001, the tech bubble burst. Why don't you blame Clinton? Do you know "the first Dem" Pres Andrew Jackson opposed central banks? Since 1913, dollar has lost 95% of value.
deahunt 1 year ago
@deahunt because clinton cleaned up the raygun bush mess..clinton dropped the national debt from the 60+ % that raygun and bush had raised from 30% to 60% ..back to mid 50% but then bushpunk added 29% to the debt..as for the interest rates.. to 8 year repub terms that have mirror image bubble bursts is proof that they practice CRAPITALISM . not capitalism . thats why I blame the repubs period..and garn and gramm did DEREGULATION BILLS so the banks could run unregulated so regulation IS needed
tbaarr1 1 year ago
@tbaarr1 I call it corporatism, and the Dems do it too. I am not in favor of Republican crony capitalism. Clinton could have vetoed Gramm's bill. The primary problem isn't legislation that allows banks to combine services/activities. It's the public loss/private gain and moral hazard. Top banks should be capable of bankruptcy, instead they've got their guys in govt looking out for them. Goldman boy Paulson became Treas Sec, NY Fed's Geithner became Treas Sec. "punk" is a compliment. in my book.
deahunt 1 year ago
@deahunt you seem to forget the bill was slipped into a larger 33k page bill that held a lot of stuff clinton wanted to pass and that the repunk controlled congress still held impeachment over clinton and that the bill was done in the before christmas session when most senators were home..IE it was a planned ploy bill an intentional abuse.done by a republican.. just like the crud that tom delay claimed was congress business that he is now being prosecuted for..the johnboy policy is a example now
tbaarr1 1 year ago
@deahunt bainboy was part of the so called repunk pledge for america to cut spending..yet he wants corp who have done nothing but american outsource jobs to keep their tax cuts and their loopholes for outsourcing..with out creating american jobs to help defer the cost of the tax cuts..and johnboy mccain the lincoln saving 5 gang member is blocking everything he can..instead of trying to help common folk..and the repunk supporters think thats a good thing..yea 700billion for the rich.. BULL
tbaarr1 1 year ago
@tbaarr1 re: Garn/Gramm laws: that was not free market law. Government has no place in housing finance at all. You'll never regulate away the problems caused by regulation and centralization w/o destroying wealth and freedom entirely. h t t p://mises.org/daily/3544
New York wanted control over the country banks, and they got it. They shut down the small banks and get the big ones bailed out. h t t p://mises.org/daily/3210
deahunt 1 year ago
@qwertynasigoreng we already had that test dude it was the great crash of 1929
tbaarr1 1 year ago
@tbaarr1 I have been reading a lot on these things from both sides and both sound compelling at times, can you be more specific with your response assuming you do have a legitimate one..
Thanks.
P.S. were all constantly learning..
qwertynasigoreng 1 year ago
@qwertynasigoreng 1921 -1929 coolidge did bank deregulation and cut taxes and interest rates bang 8 years later big bubble burst and a stock market crash
1981-1988 raygun did the same thing . 1986.lincoln savings was the first major failure follow by the rest of the fdic insured S/L industry oct 1987 major crash and a small recession in 88 taxes raised in 89
2001-2008 same crap done by bushpunk same bubble burst in 2006 ..its almost a mirror image of the 1986 burst. and crash and recession
tbaarr1 1 year ago
@tbaarr1 Okay, so what is your views on the necessity of government intervention during market crises?
Should they intervene and prop up banks for instance or let the system finds own way forward?
This is the part I am confused...
qwertynasigoreng 1 year ago
@qwertynasigoreng an intervention just like in 1989 and 1933 is the only way to stop what happened in 1932 when hoover had millions unemployed and people killing each other for food and we had dustbowl. the reason why the 88 and the 08 crash occured is repub jake garn in 1982 pushed through a bill that gutted glass stegall and let the S/L go unregulated .and then greed took over. just like repub phill gramm did in 1999 and thus aig was free to do it again . google bank deregulation see 4 ur self
tbaarr1 1 year ago
@tbaarr1 Yes I have been thinking along the line you said and it hits me in the gut when people like Rogers & this chinese guy say as that you should let the system collapse, find its own bottom and restart over.
Being a worker i would expect the system to recover as fast as possible so as to be able to keep my job rather let the failures collapse and bring down the system just for the sake of demonstrating a moral point though i could be wrong.
Thanks bro for your two cents (or maybe more).haha
qwertynasigoreng 1 year ago
@qwertynasigoreng like i said.. we already did that once..it was called the great depression. been there done that dont want to do it again..thats what pisses me off about repubs..they do the same thing and expect different results..all they get is the same damn mess as a result. thats insanity in my book. and now john boy repunk wants to not follow the exact path daddy bush followed in 89 .he wants the rich THAT AINT CREATED JOBS in america WITH THEIR TAX BREAKS .to keep their tax breaks. BULL
tbaarr1 1 year ago
@qwertynasigoreng buthe loser wont allow 55 billion to help the unemployed. but he will allow 700billion for the rich punk tax breaks. he is a real piece of work that bum is
tbaarr1 1 year ago
@tbaarr1 Sorry if i may have a slightly diff view, but politicians aren't totally in control of all their decisions as they have to payback many constituents who have funded their campaigns and all, even if it is to the detriment of society..
I ask you, would you feel more obligated to serve the people of a nation once you are elected or a small minority of people with a lot of money who have funneled/channeled money to you to compete for a top post?
qwertynasigoreng 1 year ago
@qwertynasigoreng what is needed is bank regulation and accountability.. every dummyed up loan that was oversold between 03-08 should have been grounds to prosecute that banker or broker. evry aig guy that wrote a bad swap should have been criminally liable for the failures and lost all their bonuses. you dont reward failure
tbaarr1 1 year ago
@tbaarr1 Yes, i agree that banks particularly more than any other industry should in fact be regulated and accountable as their primary role is to be the blood stream of any capitalist economy not to be injecting steroids in the blood stream..
The problem is since these guys (bankers) have so much cash and credit on their hands, it must be very tempting to want to use it and take risks to make more returns just for the hell of it (not to mention higher bonuses)..
qwertynasigoreng 1 year ago
@qwertynasigoreng and they should be totally and personally responsible for every failure . paid for directly out of their bonuses..ie every failure is removed and if they all fail the punk should be fired and sued for bad faith business practices. if them punks went to atlantic city and gambled bank money it would be called embezzlement
tbaarr1 1 year ago
@tbaarr1 I agree with punishing employees with malicious intent (ex. jail time, fines...etc).but how do you separate malicious intent employees from employees who made honest mistakes? how do you read their thoughts and thought systems?
I don't know myself..
qwertynasigoreng 1 year ago
Respond to this video...going to bed night
tbaarr1 1 year ago
@qwertynasigoreng
tbaarr1 is a full-on Keynesian. No amount is too big for a bailout; no amount of intervention is too much. qwerty you might benefit more from a book on the history of economic thought than from youtube comments with limited characters.
deahunt 1 year ago
@qwertynasigoreng my response is all historic fact.. just like the fact that under 12 years raygun and bush the national debt when from 30% gdp to 60% and baby bush turn the 56% clinton debt into 85% and yet cons call themselves fiscal managers. bull
tbaarr1 1 year ago
@qwertynasigoreng
Also, I should mention that lowering interest rates screws up resource allocation and time preferences, thereby blowing up a new bubble. Asset classes are not affected equally by inflation; it may flow more into one good than another, usually those nearer to the Fed's inflation (say, stocks, housing, credit etc). Pro-intervention ideas guarantee more trouble in the future. Recall that Austrian economists predicted this crash while interventionists claimed things were fine.
deahunt 1 year ago
@deahunt So what would be your view of the best way to tackle economic issues like we have now?
qwertynasigoreng 1 year ago
@qwertynasigoreng
First, stop doing all the wrong things. The Federal Reserve is a cartel of private banks; its creation must be repealed. No one man should have such influence over 300 million people. They create credit from nothing and feed insolvency. Property rights enforced and liablity caps removed, so that banks are under the threat of bankruptcy. No paper money for the government to manipulate. No government loan insurance, bc it creates moral hazard. No price fixing, quotas, etc.
deahunt 1 year ago
The Chinaman is 100% Soros argument is not convincing AT ALL! HE KNOWS what he's doing! It's DELIBERATE!! Gee Georgie, your boy Greenspan couldnt recognize the bubble? Peter Schiff could!, Mark Faber could! Gerry Celente could! Many others could! GEORGE SOROS LIES, LIES, LIES! He's the Socialist PIG that is the puppetmaster destroying the USA and trying to make it into his vision of Utopia! See how he stutters when presented with the 1920 argument? THAT EVIL FUCK!! HE LIES HE LIES HE LIES!!!
TheIronKeel 1 year ago
@TheIronKeel ya but at least he is transparent and will open his books to scrutiny as to all his political support.. your repunk boys the Koch brothers wont even return calls.you really need to stop listening to rush limpdick lies. or are you a paid koch brothers shill.like john boy from ohio
tbaarr1 1 year ago
SOROS IS A "SUBVERSIVE" (his own admission) SEDITIOUS DEVIL who needs a hydrashok in his noodle. "The Evidence Shows That They Cant" he says? The free market has self-correcting mechanisms called "depressions" ( downgraded to the term "recession"). THE CHINAMAN SITES KEY EVIDENCE: The 1920 Great Depression that the market self corrected in 18 months with NO FED INTERVENTION! Soros ducks 1920 & jumps to '29 The concept of the Central Bank has FAILED MISERABLY! Ron Paul is Right: END THE FED!!
TheIronKeel 1 year ago 2
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Soros argument is wrong. He knows it. The reason he likes it is it works in his favour. If money was expensive it would not flow so easily into "bubbles" If interest rates were 10%, houses wouldn't have jumped and then crashed. Good on Asian fellow for calling him on it. He should have called Soros a crook and had guards drag him off the stage and had him tried for crimes against humanity.
nmud 1 year ago
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nmud 1 year ago
one.
Wow, lol. I am seriously surprised to see how surprised Soros was to hear the gov't extended the '29 correction / crash argument. It was like he heard it for the first time. Talk about scary. Makes me laugh and wonder how easily (or perhaps not so easily) a billionaire could be convinced out of his views if surrounded by sharp minds and cogent explanations.
selfrealizedexile 1 year ago
The view Soros has about the market is the same most have who receive their education from the London school and other top establishment economic schools, that of endless, arbitrary feedback like spiraling deflation or bubbles. This of course is laughably mistaken. For example, Soros says "they don't correct it and play the bubble until it collapses." This is true, however, he implies the collapse isn't the correction (how long the correction is delayed depends on intervention). Flag number
selfrealizedexile 1 year ago
If regulation of the economic system isn't necessary then neither should be traffic lights. How about free market for the drug gangs. A few bullets, a few deaths, the chaos will sort itself out without big government law enforcement intrusion...right?
wjksea 1 year ago
@wjksea Intersections without traffic lights or signs do exist, and don't result in chaos. Restrict drug supply and you will drive up prices; make it illegal and the only way they have to settle disagreement/fraud is with violence. The demand is never going away, and government will never control supply. I think you have dismissed a basic understanding of property rights and right of contract. For example, a road owner might install traffic lights to make more money.
deahunt 1 year ago
a very very smart man , but what a lieing old sack of shit . i see that the chinese did not believe him either . thats good to see !
throwerofturds 1 year ago
"Come on come on..."
antonisprotopapas 1 year ago
George Soros is park of the New World Order...their next step is to convince China (somehow) to use the same monetary policies as the US. LOL!
ObamaIsDaAntiChrist 1 year ago
Soros is wrong - the Chinese guy is right. The regulators create the market? Give me a break - he is dead wrong.
equsnarnd 1 year ago
"markets create bubbles" hahaha "without the fed, markets would collapse" whew...........Communists schooling a wealthy American on capitalism........Hillarious and sad
66chevyo 1 year ago
that chinese guys may have a great idea, but we don't hear any good comments from him, so he looks stupid
MrAchkor 1 year ago
Soro's say ''ever since you have financial markets you have financial crisis.'', what he means is ''ever since you had central banks, you have financial crisis''
FiftyOneDegreesNorth 1 year ago
@FiftyOneDegreesNorth There has been many crises before central banks
Natebritain 1 year ago
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@FiftyOneDegreesNorth There has been many crises before central banks
Natebritain 1 year ago
This has been flagged as spam show
@FiftyOneDegreesNorth There has been many crises before central banks
Natebritain 1 year ago
If you assume that financial markets depend on fractional reserve banking, central banks that set interest rates (not markets) and unsound fiat money - then what he says is true.
However, if you use sound money - with a value fixed to an inflexible asset or commodity (real estate or precious metals) - and you demand no fraud (that is 100% bank reserves) and you allow markets to set their own rates - then what he is talking is fantasy and rubbish.
AmagnonX 1 year ago
@AmagnonX Couldn't of said it better myself.
FiftyOneDegreesNorth 1 year ago
@FiftyOneDegreesNorth and I guess the crapitalism you repubs use that has given us 2 recessions in a row is perfect..NOT
tbaarr1 1 year ago
@tbaarr1 yes you are 100% right we do have 'crapitalism' and thats our problem, because they killed capitialism about 100 years ago.
FiftyOneDegreesNorth 1 year ago
@FiftyOneDegreesNorth and the repubs keep pushing a econ policy thats a failure and try to call it capitalism
tbaarr1 1 year ago
@tbaarr1 Well the Dems policy is worse than the Repubs, I dont know why you say 'you repubs' though, I'm a UK citizen, so have no vote in the USA so can't really be called a repub, I do support the Conservatives in the UK on most of their policy, but if I really wanted a party to rule the UK it would be the Liberal Party of a 150 years ago...
FiftyOneDegreesNorth 1 year ago
@FiftyOneDegreesNorth hate to tell you but the dem policy is the only way to fix this repub mess .. just like we fixed the last recession in 1988..that their boy raygun caused..it costs money to fix major screwups..and the repubs are real good at screwing the economy and the middle class
tbaarr1 1 year ago
@tbaarr1
@FiftyOneDegreesNorth
Give it up you two: there is no difference between republicans and democrats! We've been accelerating spending since Ike and that hasn't changed course one iota through any administration. The rest has been window dressing and choosing who bears the costs.
The problem with partisan wankers like you lot is when both McCain and Obama rushed to the capital to pass TARP, you all think this was the appropriate action. You're both part of the problem!
sanarkhos 1 year ago
@sanarkhos hey dude we already did the DO NOTHING RUSHLIMPDICK approach.. it resulted in the great depression. you may have heard about it..It was in all the papers that had not gone bankrupt. 25% unemployment was not an option again.. as for your statement that there is no difference between dems and pugs ..refer to history again. it was the repug coolidge that let the bank run unregulated in the 20's that gave us the crash and it was the deregulation pugs that gave us the crash of 2008
tbaarr1 1 year ago
@tbaarr1
What caused the great depression was meddling by both Hoover and Roosevelt, q.v. America's Great Depression. Refer to YOUR history again!
sanarkhos 1 year ago
@sanarkhos no you need to read your history..the crash happened in 1929 under coolidge and hoover .BOTH repugs..it was 3 years in to the dustbowl, because hoover did nothing, when roosevelt took office in 1932... God were you born stupid or do you just practice stupid daily..
tbaarr1 1 year ago
@tbaarr1
First of all we had a severe crash in 1921 and there was no depression. We had a depression after 1929 due to Hoover and Roosevelt's reaction to the crash!
You should check out America's Great Depression for a real history lesson instead of whatever garbage you've been fed by some institution.
sanarkhos 1 year ago
@sanarkhos dude again roosevelt did not get in till 1932. so how was he responsible for a crash in 1929 that lead to the depression grabing hold by 1930 ....show some accurate links to prove your case or shut up.get a life you loser.. go piss off
tbaarr1 1 year ago
@tbaarr1
You're clearly unable to read, because I explicitly pointed out that crashes to not cause depressions. Rather the knee-jerk reaction to the 1929 crash caused the depression, or else it would have resolved itself like the 1920-21 crash.
So you can take your ignorant (literally), rude, uninformed ass off the internet and read a book, or just wallow in your own pomposity. Your choice.
sanarkhos 1 year ago
@sanarkhos bull ..the crash of 08 clearly stopped this country in its tracks..in feb of 08 the only freight that moved was staple foods.. i know this for a fact because i haul freight..so your opinion is worthless as facts prove it wrong.. obamas stimulus caused freight to pick up in less than 3 months..as non staples were being bought AGAIN.. and do show me the exact post where you stated that..as you are the ass that assumes i did not read your lies and stupidity
tbaarr1 1 year ago
@tbaarr1
Dude, quantity of freight could be an indicator of growth just as much as waste! The soviets were shipping tons of useless crap all the way up to the end!
You won't have to take my word for it however. Far from a recovery, Obama's continuation of Bush's policies will compound the recession. Double-dip nothing, they will have to find a term more severe than that!
As for which post you ignored, look for "First of all we had a severe crash in 1921 and there was no depression".
sanarkhos 1 year ago
@sanarkhos thats right staple freight and car parts and elcetronics and kitty litter are useless crap to you.. to common folk they are everyday goods.. but you go right ahead and believe your bull. I dont..as for the crash of 1921 its just like the 87 crash and the 88 housing bubble burst recession that daddybush started to clean up by BAILING OUT THE SAVINGS IN LOANS.. just like obama did the banks.. and do you forget that raygun bailed out chrysler just like obama balied out gm and chrysler
tbaarr1 1 year ago
Respond to this video...the reason we had no depression in 21 is the same reason we had no depression in 73 when nam ended..we just had a recession ..unfortunately nixon was so busy covering his watergate arse that he did nothing to fix the economy except remove the gold standard ..and then hand off the mess to ford who handed it to carter..whats amazing is that the repub fix under coolidge is a mirror image of the repub fix under raygun. and both flopped due to banker greed
tbaarr1 1 year ago
@sanarkhos Worst Stock Market Crash: 1930-1932
This is the grand daddy of them all. Investors lost 86% of their money over this 813 day beast. This market crash combined with the 1929 crash, makes up the Great Depression. In just two months, September and October, the stock market had lost 40 percent of its value.
tbaarr1 1 year ago
Respond to this video... . Black Tuesday usually marks the point where the Roaring 20’s ended and the Great Depression started. The stock market continued to fall until bottoming out in July of 1932..ie 6 months after roosevelt got in ..his policies stabilized the market enough to end the drops..just like obamas methods have stabilized the market and caused it to rise to 11k from the bush 8k level..and unemployment is stalled at 10% instead of 25% like 1931
tbaarr1 1 year ago
Respond to this video...i just googled the 21 crash and thats what lead coolidge to dereg the financial industry that lead to the 29 crash..just like the 1982 garn dereg bill lead to the 87 crash and 88 recession and the phil gram dereg bill of 1999 lead to the feb 07 crash followed 08 crash and recession. because repug bandaids lead to greed and corrupt bankers and guys like mike millikan..keep lying now ..I know you are too arrogant to accept that the bailout was necessary
tbaarr1 1 year ago
@tbaarr1
It's hypocritical for you to call anyone arrogant. Your'e reeking of it.
The bailouts only lead to zombie banks like Japan has instead of a clean house. Once again, if you want to understand the real causal effects behind the last depression you should check out America's Great Depression.
sanarkhos 1 year ago
@sanarkhos yyourr obviously a dumbass know it all that lives in yor mommas basement because your too stupid to admit that fdr fixed the mess caused by the repunks ..so now i will tell you to F OFF YOUR WRONG obama will fix this repunk mess just like FDR did.. and HE will learn from the mistakes of 1936 and not repeat them.. your obviously one of those jackasses that want free markets to fix themselves. and ignore the greed factor..Thats whgat causeed both crashes.. so piss off YOUR WRONG BOY
tbaarr1 1 year ago
@tbaarr1
I don't know what you're more full of, vitriol or yourself.
Amazing how riled up an ignoramus can get when he's been given a historical narrative which contradicts his gospel.
America's Great Depression. Check it out before you run out of saliva
sanarkhos 1 year ago
@sanarkhos for your dumb ass to say hoover did anything to help the american poor during the depression..is bullshit..therefore you are full of brown S..and the fact that you wont provide any links to why you say what you state ..proves your a stinking pile of brown..and i aint wasting my time on your pile of S..remarks
tbaarr1 1 year ago
@tbaarr1
Well here you have it folks, proof that tbaarr1 is a demagogue of the first order.
Hey asshole, where did I say that Hoover did anything to help the poor? Where? Oh that's right, nowhere, because you're so intellectually feeble that you can only knock down a straw-man.
So, again, did I say Hoover helped the poor, or are you an asshole? Which is it?
It's amazing how you can be so full of yourself considering how little of you there is to start with.
sanarkhos 1 year ago
@sanarkhos you stated hoover did something to help stop the depression..he did nothing..thats what i meant by he did nothing to help the poor. your the loser that wont clearly state what bugs you..so piss off till you clearly state what he did..as for what obama has done..its working..its just slow.. it takes more than 2 years to fix a 8 year mess. as for me personally.. i bet i am better off than your punk ass as i learned from history and anticipated this recession. based on the 1988 recession
tbaarr1 1 year ago
@tbaarr1
It's amusing you keep harping on history when you clearly don't know what happened.
What he did to 'help' the poor (and fuck-over the economy, like FDR) in historical order:
1) Maintained wages and construction
2) A massive public works program
3) Farm subsidies and fixed prices (Federal Farm Board). Ag was 2/3rd of the economy.
4) Smoot–Hawley Tariff
5) Banned immigration and started deporting people in droves
6) Curtailed short-selling
7) The Employment Stabilization Act
sanarkhos 1 year ago
@sanarkhos
"...These measures have maintained a higher degree of consumption than would otherwise have been the case. They have thus prevented a large measure of unemployment. . . . Our present experience in relief should form the basis of even more amplified plans in the future."
President Herbert Hoover, bragging about his interventionisms in front of the American Bankers' Association
FDR then expanded his policies lock-step
Not that any part of the Hoover/FDR New Deal helped the poor.
sanarkhos 1 year ago
@tbaarr1
It goes on and on (read the book!), but don't take MY word for it:
"I determined that it was my duty, even without precedent, to call upon the business of the country for coordinated and constructive action to resist the forces of disintegration. The business community, the bankers, labor, and the government have cooperated in wider spread measures of mitigation than have ever been attempted before. Our bankers and the reserve system have carried the country through the credit . . ."
sanarkhos 1 year ago
@tbaarr1
". . . storm without impairment. Our leading business concerns have sustained wages, have distributed employment, have expedited heavy construction. The Government has expanded public works, assisted in credit to agriculture, and has restricted immigration..."
sanarkhos 1 year ago
@tbaarr1
If you think "hoover did nothing", you might check out Murray Rothbard's excellent America's Great Depression. Hoover intervened massively. You don't even have to buy the book, it's right here: h t t p://mises.org/rothbard/agd.pdf
deahunt 1 year ago
@sanarkhos i now correct myself..roosevelt was elected in nov 1932 so he took office in 1933..the market had bottomed in july 1932 and the depression was in full swing..HOW THE HECK IS HIS RESPONSIBLE ..LEARN YOUR STINKING HISTORY LOSER..keep lying ..your own words remove all doubt of your ignorance
tbaarr1 1 year ago
@tbaarr1
Once again you've demonstrated your inability to read what other people post. I blame both Hoover and Roosevelt (who basically continued Hoover's program of intervention). In fact, Roosevelt didn't add that much.
It was a bit like Bush's TARP vs Obama's. It's more of a continuum than a change in policy.
Again, America's Great Depression goes into this history welll BEFORE the crash and what steps BOTH administrations took.
sanarkhos 1 year ago
@tbaarr1
ONCE AGAIN I'll have to point out (because you seem unable to read my posts) that crashes to not lead to depressions, rather the politicians REACTION to them do!
The crash of 1920-21 didn't lead to depression, and neither would have the crash of 1929 had prices and wages allowed to correct. There would have been necessary deflation and liquidation of bad loans/investments, and then it would have been reinvested in productive ventures.
sanarkhos 1 year ago
@sanarkhos now the biggest difference between dems and repugs.. bushpunk outsourced millions of american jobs and did not lift 1 finger to help those he caused to be unemployed to pay their bills when their bennies ran out.. meanwhile obama has helped extend bennies a few times..and lets not forget that raygun bailed out chrysler in the 80's just like obama did GM.. you qualify for the statement from missouri dude. DONT Piss down my leg and tell me its raining. your full of it
tbaarr1 1 year ago
@tbaarr1
Like I give a damn what special interests Obama and Bush are peddling to when the major issue is bailing out the banks which they're both guilty of
sanarkhos 1 year ago
@sanarkhos the banks had to be stabilized otherwise we had the great depression again..but again your obviously to ignorant to learn from true history.. i bet you also believe that the germans did not cause the holocaust either..and i bet you deny global warming is a problem too
tbaarr1 1 year ago
@tbaarr1
I bet you didn't know we had a severe crash in 1921. I bet you're so full of yourself you won't even look it up.
sanarkhos 1 year ago
And furthermore from what I have read and been told, it was heard in private conversation that Rogers left Soros because Soros cheated him a bit, and was operating dishonestly in respect to the partnership and I for one believe that after seeing what Soros did in France.
sysopkc 1 year ago
Jim Rogers did NOT work for him, they partnered. I dont like his version, as it conflicts with his own written account of working with Rogers. Soros is dishonest, very very dishonest.
sysopkc 1 year ago
Nonsense, for Thousands of years grain, financial exchange, and multiple markets functioned with rise and fall, I find it incredibly disingenuous for Soros to argue that the global economy would collapse based on the failings of a few Wall Street firms, the American housing market, and an Insurance conglomerate. And its ANGERING to try to compare this situation to the 1929 crash, anyone with any inkling of financial literacy knows the parallels are totally superficial.
sysopkc 1 year ago
I never realized how dumb George Soros is before I saw this video. No market can recover without regulation? If that were true the world would have ended centuries ago. Soros wants governments to borrow so the money will re-inflate the stocks he owns. Has nothing to do with improving the economy.
NOLDaemon 1 year ago
@NOLDaemon Dumb people don't become self made billionaires. Soros is anything but dumb, he's manipulative and knows exactly what he's doing. He has everything to gain from more government intervention.
onetondrumbum 1 year ago
@onetondrumbum Oh absolutely! And its very angering to me that his statements are so disingenous. Very angering, he's a greedy, selfish, egotistical man with no real moral fiber. His past deeds have shown him for what he is, in my opinion.
sysopkc 1 year ago