OBAMAnomics -- CHANGE: $0.04

[Bacchant33rd]

If capital movements are free, tax on currencies are free, there's what economists call a virtual parliament of investors & lenders who actually vote every minute, in fact.

If they dont like what the government is doing, they attack the currency. It is this VIRTUAL PARLIAMENT that undermines the power of the American people to have a government that works for them.

[Bacchant33rd]

THIS is the root cause that people FALSELY think government intervention is bad for the economy:

The virtual parliament of investors blackmails the government (which is SUPPOSED to be an apparatus of the American people and NOT some alien force stealing from you) into doing what the virtual parliament of investors wants.

[TylerNull]

Free tax? That is nonsensical.

Liberty to invest is "undermining"?

"...there's what economists call..." GIBBERISH.

[Bacchant33rd]

Bretton Woods was implemented to cut down wasteful & harmful speculation, & to restrict capital flight. Reasons were well understood & clearly articulated-free capital flow creates what's sometimes called a "virtual parliament" of global capital, which can exercise veto power over government policies that it considers irrational. That means things like labor rights, or educational programs, or health, or efforts to stimulate the economy or, in fact anything that might help people & not profits

[TylerNull]

"Bretton Woods was implemented ..." to heal civilized man from the the last time socialist's tried to exerminate us all.

No, Bretton Woods is not about sealing borders or shutting down the currency markets.

Yes, liberty DOES place constraints on your fascist ilk, in the sense that people (and their EARNED capital) move to wherever they are best treated. Be thankful, ingrate.

[Bacchant33rd]

"liberty DOES place constraints on your fascist ilk, in the sense that people (and their EARNED capital) move to wherever they are best treated"

Actually, you misused the word liberty by not specifying WHOSE liberty you are talking about. Very clearly it is the liberty if the corporation to exert its power & influence over the populace

Social services are not tantamount to "fascism," another word you misuse. The government is an extension of the people, not an alien force stealing from you

[TylerNull]

"you misused the word liberty"

Your proven inability to comprehend the concept isn't evidence of anyone else's "misuse" of the word.

The "social services" of rewarding adolescent girls for breed bastards and punishing them for forming families isn't "an extension of the people". It's just more merciless socialist policy that's VERY successful at growing their servile voting blocks. Ditto for all others.

[Bacchant33rd]

Your inflammatory rhetoric regarding social services, and how they might make life easier for the less fortunate only shows your active contempt for, not only the population at large, but for the disadvantaged.

You did not specify whose liberty. The truth is that you prize the liberty of the corporation over the will of the people. You'd rather subsidize industry than the welfare of a nation's populace.

Government always subsidizes. It's just a matter of which side it chooses to subsidize,

[TylerNull]

Life in the Democrat run kill zones, which the Democrat controlled press euphemistically calls "Inner Cities", has NOT been made "easier" by the merciless policies and programs which fester them.

Likewise, the fascism of Fannie, CRA, and ACORN has NOT made housing "more affordable".

Socialists are always trying to market their merciless, big pimping politics under happy sounding names, but they always inflict the most damage on the targeted voting block for which they claim to advocate.

[Bacchant33rd]

Inner cities are yet another example of how "free market" minded politicians impose corporate tyranny upon the populace through gentrification. The solution for conservatives is to make the standard of living so expensive that the population has no choice but to leave

Meanwhile social services have been cut since the "pork" has to be cut, which ultimately amounts to an aggregate tax INCREASE on the poor & workinmg class in the form of increased bus fares, higher tuition at the university, etc

[TylerNull]

Supply & demand isn't a nefarious plot. Green zoning, seeding cities with socialist run kill-zones, and endless "environmental" lawsuits aren't solutions. The "so expensive" are most so in socialist (Democrat) controlled hotbeds. All is the exact opposite of your latest lie. Though marketed as "services", socialism is highly toxic to humanity; serving only the unbridled greed of gov't.

Socialism is a nearly perfect inversion of reality. Find something less damaging to proselytize.

[Bacchant33rd]

Supply & demand is not a nefarious plot, but the inherent structure of how business functions (looking out for its own interest, driven only by profit motive) does have detrimental effects on the less fortunate. Social services are part of the infrastructure. Infrastructure is not tantamount to "socialism."

If you believe the 4th of July speeches, "government of, by & for the people," then government is NOT some greedy alien force stealing from you. Governement is an instrument of the people.

[TylerNull]

Absent corporations, America is Liberia.

Merciless policies that expand government authority, and promote peasant lifestyles, which ensure the poor are trapped for endless generations in ghettos isn't "infrastructure", nor is the Ponzi scheme of Social Security a "service".

Unlike profitable enterprises -- those who give back enough to grow the enterprise for the benefit of all -- the non-profit sort suck out every last penny and hide behind their tax loopholes.

[Bacchant33rd]

Social services don't promote peasant lifestyles. They simply give back to the American citizen the fruits of his/her taxes paid to the government. Unlike, so-called "free market" policies, which socialize cost, socialize risk, and privatize profit. Profitable enterprises do not give back enough to grow the enterprise for the benefit of all. The benefit disproportionately goes more to those who already have money, while doing so at the expense of the less fortunate. Enterprise blackmails gov't.

[TylerNull]

"Social services ...give back ... the fruits of his/her taxes paid..."

Is your ignorance genuine or are you just faking it to cover for your politics of wealth redistribution?

The money is taken from those who earn it and given to those who don't.

[Bacchant33rd]

You want to know what's really "merciless" ?

Corporate tyranny, which is really what "free market" policies impose on the American people.

The money is taken from everybody, and everybody is eleigible to benefit from those social services provided. Just look at education. If education were properly funded, everyone could benefit. Taxes aren't about wealth redistribution. Taxes are about reducing the impact of the corporate tyranny.

[TylerNull]

Liberty isn't "imposed", and that to produce and trade goods and services is the exact opposite of "tyranny".

Taking one's earnings and then handing them back some residual is a "benefit" only in the fantasies of those whose minds were stolen by their pimp-owners -- whores and socialist dupes.

Evidently, socialist mysticism is based on the notion that their rhetoric possesses some magical power to bend reality to their totalitarian whims.

[Bacchant33rd]

Economic neo-liberalism leads to totalitarianism. That's because neo-liberal economic policies create a class of people who are useless to the creation of wealth, and another much larger class of people who are dissatisfied with the meager fruits of their hard labor.

In this case, the system has to get rid of the useless poor class of people through incarceration, and control the dissatisfied masses through fear & propaganda..

That is why it's a tyranny and not freedom!

[TylerNull]

"...neo-liberalism leads to..."

Socialists view liberty as the problem, and gov't as the solution. They tend to prophesy an Armageddon lest their audience submit to their central planning dictates.

Either they are genuinely ignorant of their rich history of such failures, lacking the capacity to learn, or they are willfully deceptive. Either way, socialists are the carbon residue of politics. No wonder they're obsessed with the stuff.

[Bacchant33rd]

For those interested in the REAL WORLD, a look at the ACTUAL history suggests a modification of Fee Market theory. To what we might call Really Existing Free Market theory. That is the one that's actually applied, not talked about.

And the principle of Really Existing Free Market theory is:

Free Markets are fine for YOU, but NOT for me. So YOU, whoever you may be, YOU have to learn responsibility, and be subjected to market discipline, it's good for your character, it's tough love, etc.

[Bacchant33rd]

...But ME, I need the nanny-state to protect me from market discipline so that I'll be able to rant and rave about the marvels of the "Free Market," while I'm getting properly subsidized and funded by everyone else through the nanny-state. And also, this has to be risk free. So I'm perfectly willing to make profits, but I don't want to take risks. If anything goes wrong, YOU bail me out.

[TylerNull]

Neither the credit collapse nor the nationalization programs ("Bail Out") have ANYTHING to do with free markets, except to the extent they are designed to kill them.

Fannie Mae

Freddie Mac

Community Reinvestment Act

ACORN

Bail Out

... fascism isn't any less so under folksy sounding names.

We already had this conversation on another of my videos. Proselytize your depraved socialist idiocies elsewhere.

[TheSharpenedPen]

Obama, through his racism and socialist policy making, will destroy the United States within 1 term or less.

[TheSharpenedPen]

You've had liberal democrats in congress and a president who signed every spending bill he could get his hands on, (in exchange for bigger war budgets), for some time now. How's that working for you so far, as you tunnel down into the black hole of spiraling debt? Not so well? Now, imagine that, in addition to attacking Iran/ keeping the troops in Iraq, (both of which Obama has said he would likely do), that in addition to this stupidity, you had a president who had spending plans of his own!

[Ssamonoske]

HAhahaha this is so stupid. Yes we can come to power and hopefully change america. And no retard its called social or human capitalism pick up an economic developmental book you uneducated tardbucket and your also only taking certain points of his argument quite sad really.

[reflector2]

I really hope Obama does not become President. I think he is dangerous.

[crazytvfan815]

I love this. Glenn is talking about how we have stagflation going on right now. Who is president right now, Glenn? Not Barack. We have a huge national debt. Who is president? Not Barack.

[ObamaBinBiden2008]

we've had a national debt as long as weve been a frikkin nation.

[berkin1014]

Exactly... we can do what? No, we can not let Obama in office with his divisive ideas... He has no experience, very liberal voting record, and divisive black agenda with his support of his church for the past 20 years. Why did he not try to heal his church over the 20 years? Why did he not try to bridge the Sunday; the day we are the most separate? Sounds like he needs to fix Chicago community before he inspires to fix America.

[ptricky15]

berkin: Thank you and good point. Why wouldn't he have tried to heal his church? I know the answer but it makes a very good point. Some people need to be a little more critical in their thinking about Obama.

[drvltore]

If the democrates raise taxes on "business", how are they going to lure businesses back to the US and "bring the jobs back here"?

WTF!

[HELLSMAGE72]

If obama is elected the economy will be $#@%ed. First thing obama does he pulls out of Iraq. Yes the war was the biggest mistake made in 50 years....pulling out now will be the biggest mistake of all time... the saudies, Jordan, Kuwait all the middle east will hate us except Al-quada, Hummas, and the irainians...btw after we leave the new name of iraq will be west iran. And u think gas and oil cost now wait till after we leave $10 a gallon and whats the tax on 30 gallons at $10 Obama=70'soncrack

[shmeewee]

AMEN AMEN AMEN!

[HEYBUDD]

The economy is @$&#$ no matter who gets elected. All these bernake rate changes are just prolonging the inevetable crash. It would be better to just let the crash happen and get it over with.

Pulling out of Iraq will make the middle east hate us? I thought that is why we were there in the first place. (remember 911? if you believe the official consperasy theory).

Pulling out would help us not have to borrow so much. We want al-queda to continue to love us don't we? Man, you are brainwashed.

[unstephenk]

Ron Paul can save the economy