Fox News Hyperinflation M1 M2 M3 Money Supply Debt Soup Lines Glenn Beck Weimar Germany

[engineitis]

Im wondering why you have in your tags B rittany S pears and P aris H ilton...

[GreenDevilAngel]

LETs MAKE MONEY

..first break the mindcontrol of the people n the world.

the daily brainwashing from the massmedia with its fluffy n yellow journalstorries in newspapers n tv..

..the daily propaganda n manipulation explaind from Edward L. Bernays (puplic relation n marketing expert)

The truth seems to be madness if we are used to hear, read, watch n see the daily house of lies..

..the manipulation n lies from the massmedia n the people that want to control the society..

[MrMarbleman11]

thumbs up if you think Glenn Beck is a fucking retard.



[jeff7659]

Ron paul 2012 REMEMBER THAT

[bellcord]

Well here's your problem right here ...you're having a serious conversation on the economy with a 7th grade dropout like Glenn Beck leading the discussion ....Beck has the same economic acumen as your family's dog..."Now tell us Fluffy what's your stance on the LIBOR's recent freeze up ??"...

[mattaki]

right wing nutjobs unite!

[RidleyReport]

To see more vids about hyperinflation, click my channel. Then...come back and watch more peltecs vids!



[blowbackinevitable]

Ron Paul is the real thing folks. this guy is a traitor

[pofthek]

Never been done by anybody before? Heard of Germany post WWI? Or more recently, Zimbabwe? Both of which are likely much worse than America is doing right now.

Also, perhaps you should learn what a log plot is Mr. Beck. I bet that would tell a much different story!

[FortNikitaBullion]

Why do you need to get into the stock market if the world's going to crash? LOL

[margierobbinsshsa]

great video. have some of you people looked at the wow cheats pack on warcraftbotsXinfo (replace X with .) ? it's incredible, i just down loaded the pack. its got absolutely everything in it, gold guides, bots, hacks, glitches and even the newest arena glitch. i probably shouldn't tell folks about this however at least this gives you all a fair opportunity to download it before i own you all!

[xadam2dudex]

hello Glenn Beck.. 1941 was not the great depression.. that started in 1929 and was ending by 1941 due to the programs of FDR and then came ww2 to really boost the economy..Glenn Beck is a total idiot... the FED not the government controls the money supply...but then it was the Reagan and Bush 1 & 2 administrations that increased the national debt..all that money was by Bush 2 who destroyed the economy..the FED has been devaluing the money supply since it's beginning

[lordhighexecutioner]

Twice 1 is 2. That wouldn't show up on the graph. Twice 500 is 1,000. That would show up on that graph. That they are effectively the same thing shows the graph to be highly misleading. By the way, M3 went from $10.3 trillion in March 2003 to $14.2 trillion in January 2009 and in April that went to $13.9 trillion, the largest drop since the Great Depression. Deflation is coming. Inflation now at 0.1% we're nearly there. M3 continues to decline by about 1% per month.

[Aryaba]

@lordhighexecutioner The Fed stopped reporting M3 in 2005/2006, so where are you getting your figures?

[MrSupernova111]

@Aryaba

Independent research firms. I seen other videos like these on youtube.

[MrSupernova111]

@lordhighexecutioner

How can you have deflation in a fractional resserve baking system backed up by the FDIC? If the money is trapped in the economy I don't see how.

[hoodoo961]

I hope Beck feels very foolish now that it is more than a year later we are still experiencing disinflation. And that graph was absolute bullshit. Are we to believe that the money supply did not grow at all from the 1930s to the 1970s? And as for the implicit criticism of monetary expansion, someone needs to get this man a copy of The Great Contraction by Milton Friedman.

[AustrianAtheist]

They don't care. These people want to make profits plus make the people believe the Republicans are wise and intelligent, while the Democrats have no idea on economics.

I think the "Great Contraction" is rubbish, but youtube is not a good place for discussions on inflation theory.. ;)

[MrStickysituation]

what hes showing is the increase in the monitary base, NOT simply printed money. The monitary base is printed money PLUS reserve deposits banks have at the fed. The amount of printed money (1s, 5s, 10s, 20s, 50s & 100s) printed by the treasury in 2009 was ~219billion dollars, less than they printed in 1996 (245 billion) and 1999 (285 billion). Its the reserve deposits at the FED that have increased, due mostly to TARP. They wont affect inflation because banks are not lending that money.

[myvideos656]

Great! Apparently, I've watched too many videos about hyperinflation and now YouTube is going over everything I post with a fine toothed comb. Just wondering if it's something about me or if it was the site I was on. Testing...testing...

[AustrianAtheist]

Wow, it is not even an exponential graph. This is pure propaganda without any content. They just hoped for inflation and thought they could use it for their agenda.

[xadam2dudex]

@AustrianAtheist that is FOX fake news for u..they have an audience that can be easily manipulated since they are simple minded ...FOX fake news uses propaganda to incite these morons

[Anubis4815162342]

@silvercelli It really doesn't matter where they are.

[kingbacon]

Fux U and fux Fux news.Where's the inflation.We're in a deflation .The Dollar keeps getting stronger. We need more money in circulation not less.We need higher wages not lower wages and cutbacks.It's a disgrace to this country that idiotic sub human filth like is on broadcast television and there are actually three or four people that actually watch.

[TLydon007]

Does anyone here wanna buy all my Goldline coins off me??

[mastewala]

fuck you FOX 5.. you didn't say the part where i don't know.. how the fuck we got here??? it was Bush and damn republicans that got us here asshole. stop this shit...

[nVei06]

@mastewala people like you will be killed.

[fisharecoming]

@mastewala ....your only telling half the truth it was bush but it started with WIlson and FDR followed up on also by LBJ and today by OBama its everybody. you can keep playing your politics, but really it helps no one. It was bush and the dam republicans has to be the most ignorant statement i have ever heard.

[inkey2]

what I think is very telling.....is from 1965 on.....the graph starts to really go up. In 1964 we dropped the final vestage of a precious metals standard. The elimination of silver and silver backed currency...IE: the silver certificate and silver coins. That can't be a coincidence

[keynesian42]

@inkey2 It isn't a coincidence and neither was the inflation that followed bretton woods in 1971. However, we did need to get off of the semi gold standard we had. That might not make sense to conservatives, but its the truth.

[johnje82]

@keynesian42 Why did we "need" to? (Follow up Q: How would you stop governments keep going over the maximum of the Laffer curve otherwise).

[keynesian42]

@johnje82 We needed to get off of a gold standard because it would hurt us tremendously during recessions. And the primary reason, in my opinion, why it would hurt us during recessions is because we would have a harder time using monetary stimulus, which can be very helpful in preventing long recessions.  And by the way, don't trust any economic models that came from that buffoon Laffer.

[johnje82]

@keynesian42 But the lack of predictability or "information" about the money supply increases the chance and severity of recessions. When governments can create it to suit political ends (arbitary and moving CPI basket) it only ever goes one way: more spending, more choking, and a final day of reckoning.

[keynesian42]

@johnje82 inflation reduces the severity of recessions, it doesn't increase it. If the Fed were to always pump a lot of money into the economy during recessions, like the one we are currently in, it would be a good thing because it would increase money velocity. Also, pumping money into the economy would not necessarily increase the chances of more government spending. Monetary stimulus can decrease the need for fiscal stimulus, which I thought was pretty obvious, but I guess I was wrong.

[johnje82]

@keynesian42 It reduces the severity of the one we're in while redistributing income and wealth in a haphazard and moral-hazard way though.  It increases the chance of problems in the future. On the second part, (correct me if I'm wrong) but it looks like you're implying that there's something preferable about a monetary rather than fiscal stimulus and, again, this disincentivises the things we need like savings and work ethic.

[keynesian42]

@johnje82 How does monetary stimulus increase the chances of problems in the future? Also, if we both agree that it reduces the severity of recessions, and helps bring jobs back to working americans, then this "redistribution of wealth", as you call it, should be the least of our problems. Furthermore, of course monetary stimulus is preferable to fiscal. Monetary stimulus can be applied to the economy much faster than fiscal stimulus and it is much less sloppy.

[johnje82]

@keynesian42 Because it's all debt bubbles, not real wealth. We agree it reduces the one we're in, but building on bubbles of debt means it will happen again. The faster application is a red-herring. If you give everyone money regardless of their contribution to the economy, it's a short-term fix which produces long-term stagnation and disincentives.

[keynesian42]

@johnje82 Monetary stimulus doesn't produce debt bubbles, obviously. You would be much closer to the truth if you said fiscal stimulus does, but you didn't. Also, what you want to do, which a form of fiscal stimulus, would cost billions of dollars and would probably be applied to late. Because, as I know and I hope you know, congress is very slow at putting together stimulus packages. Furthermore, you do know that this fiscal stimulus would most likely cause increased inflation?

[johnje82]

@keynesian42 Monetary stimulus is a coercion of debt prices to above their natural market clearing level and if you do it once, people rely on the information you are imlicitly imparting. Once they're hooked on overpriced debt, more follows. My fiscal 'stimulus' would not cause inflation as the state/socialist spending would be cut to match.

[keynesian42]

@johnje82 That is complete nonsense. I mean, you do know what monetary stimulus is don't you?

Also, I don't understand what you mean by "state/socialist spending"? It doesn't make any sense. Actually, nothing you have said so far makes any sense.

[johnje82]

@keynesian42 By monetary stimulus, I'm referring to artificially low interest rates and QE. In case it's only semantics, what do you mean by it and perhaps I can reprhase some things for you so they make more sense.

[johnje82]

@keynesian42 I can't see why "state/socialist spending" is a term you don't understand. I mean money spent by the state which it has gained from its progressive-taxation system although the receipts are spent more equally.

[Zim1411]

greogory needs a job

[lordhighexecutioner]

The value of money comes from two things - the power of the government to tax and the country's production. If the money supply was not increased there would have been a massive shutdown of much of the economy. That would cause a real devaluation of the money. What happened with Weimar Germany? The French seized the industrial centre of Germany and Germany continued to pay its workers but ordered them not to work. They have to pay them so they not starve. This is how it happened there.

[young5ever]

Hit the nail right in the head

[fuckthisshitfuckit]

douchbag

[starrychloe]

This is BS. Glen doesn't consider GDP. US GDP is ENORMOUS! $14 trillion! US money supply is $8T. As a fraction of GDP, it is no more than during WWII. The reason Germany, Zimbabwe, and Argentina failed was because their GDP was so tiny. The US printing $1T vs. Zimbabwe printing money is like the difference between a drop of food coloring in a swimming pool vs a drinking glass. You can view a historical graph on Wolfram Alpha: "us money supply / us gdp".

[mredstriumph]

RU counting Medicare's $27 Trillion in "unfunded liabilities"? That's $ the US govt GUARANTEED, but there's not enough $ spent in the ENTIRE NATION 2 make good. If gov confiscated EVERY $ in EVERY transaction from EVERY American for 2 yrs, they STILL fail

watch Youtube: IOUSA

By CLINTON's comptroller - US top accountant - chock full of liberal spin & distortion - but even so exposes t underlying problem (w.o. addressing the cause)

That was pre-bailout. Unf L's now = $107Tn (source: WSJ)

[D0g63rt]

And the government's entitlements to its citizens are upwards of 50 trillion dollars. Even Bill Gates doesn't have that kind of money, who are we going to rob to pay for that fiasco? I hear China likes eating our debt, but how long till they figure out we aren't going to pay it back?

[conjon11]

@starrychloe HM. WHERE ARE THE JOBS ?

[mredstriumph]

@AtlasShruggery & his disgraceful half quotes

Here is all that needs said on the matter:

tinyurl -DOT - com/yhv7ogz

But.. in just the one week I've been correcting your profound stupidity, Obama has spent IN ONE WEEK

$1.1 Tn + $636 Bn + $154 Bn = $1.89 TRILLION vs REAGAN ($1.74 Tn) in EIGHT YEARS

What does this mean? It means that [($1.89 Tn - $1.74 Tn) / $1.74 Tn ] * 100% = OBAMA spent 8.62% ** MORE IN ONE WEEK ** THAN REAGAN SPENT TOTAL IN EIGHT YEARS! - JUST WHILE WE'VE ARGUED

[AtlasShruggery]

"I don't worry about the deficit" - Ronald Reagan

"Reagan taught us deficits don't matter" - Dick Cheney

[mredstriumph]

"We've never obsessed over the budget deficit, because the true cost of govt is the amount it spends, not the amount it borrows." - R Reagan

Reagan's deficits averaged < $200 billion / yr. ~1/4 as large in real terms as today's deficit. It financed a military buildup that ended the cold war (peace dividend +3% GDP) & tax cuts w ended the 70's stagflation, creating 25 yr of prosperity

Todays debts ($3+Tn) are creating what exactly? A slush fund for Democrat thieves. Unemply 7.2% to 10.2%

[AtlasShruggery]

As you know, unemployment was 7.2% and falling when corrupt Hollywood airhead Ronald Reagan took office. It soared to 10.8% after two years of Trickle Down Reaganomics. Fortunately, Volker and the Fed got inflation under control and the Reaganauts lost control of the Senate.

Which silly Reagan hagiography did you get the "25 yr of prosperity" from?

The 1983 - 1987 expansion that you Reagan groupies are always thumping your chests about was a typical recovery from a brutal recession.

[mredstriumph]

Pretend the 80's 90's, early 00's were a bear market w massive unemployment all u like, even claim the Carter prosperity was ended by Reagan, but even u know its a lie

Honestly@this point, I dont expect logic, reason, & rationality (also economics, documented history, public reccord, CSPAN video from the House & Senate floor, housing charts, etc) to talk you out of a position u didnt use logic, reason, or evidence to talk urself into in the 1st place

Ur but acheerleading hack; haterOtruth

[mredstriumph]

As ur repeated silence demonstrates, u have 0 case R's/GWB policy contributing 2current crisis

U cant deny that D's were rabidly FOR deregulation of the financial industry; D's passed EVERY bit o leg; that they thwarted EVERY attemptd reform; that Fwank&Dud - 2 Dems u specifically tried2 defend perjured themselves taking bribes &denied the problem; cant deny crisis could NOT have happened wo DEM social engineers buying loans; cant deny proof tinyurlDOTcom/yekh2eo

ALL u have = 2 1/2 quotes?

[mredstriumph]

And with that.. I guess the "math & history lesson" comes to an abrupt & humiliating end

... and I was just getting started

"There is nothing to fear except the persistent refusal to find out the truth, the persistent refusal to analyze the causes of happenings" - D Thompson

[AtlasShruggery]

Simple question: Exactly how many balanced budgets were submitted to Congress by Ronald Reagan, Poppy Bush & Junior Bush in their combined 24 years as POTUS?

The truth is that none of those 3 phonies ever submitted a balanced budget to Congress despite all their pontification

The national debt was 33% of GDP when Reagan took office. It rose to 55% of GDP under Reagan's watch. Using that metric, Reagan was responnsible for the largest increase in the debt since World War II.

[mredstriumph]

@AtlasShruggery

Just how dumb are you? No PRESIDENT can fund ANYTHING without the House of Reps

Means NO PRESIDENT can FUNCTION because he cant FUND * ANYTHING * w.o. the blessing of Congress. Its called checks & balances

W ONE party obsessed with SS, Medicare, Healthcare, Welfare, WIC, Teacher's Unions, etc, they will NOT ALLOW a PRESIDENT to govern if he tries to cut them. He MUST compromise. If he does NOT, Congress rightly claims he's overstepping his Constitutional authority

[AtlasShruggery]

The plaintive wail of the whiney Republican titty baby: "It's always someone else's fault!"

GOPers always try to blame someone else for your idiotic policies.

You were asleep at the switch on 9-11 and you tried to blame Clinton. You invaded Iraq based on lies and you tried to blame the UN. You were asleep at the switch after Katrina and you tried to blame Nagin. You were asleep at the switch as your Wall Street cronies raped the banking system and you tried to blame Frank & Dodd.

[mredstriumph]

@AtlasShruggery

"The plaintive wail of the whiney Republican titty baby: "It's always someone else's fault!"

Do I REALLY need to spam you with page after page of Obama quotes - UNPRECIDENTED IN THE HISTORY - blaming problem after problem after problem on his predecesor?

NO PRESIDENT, other than current classless lout has EVER done that. Nixon didn't blame LBJ / Kennedy for Vietnam, Carter didn't blame Nixon for gold std, Reagan didn't blame Carter 4 the economy HE inherited

[AtlasShruggery]

C'mon. Boy King Bush and you RepubliCons spent eight years blaming the inevitable results of your idiocy and incompetence on Clinton. And you've spent millions of dollars and the last 20 years trying to blame Carter and spin Ronald Reagan as some kinda hero instead of the corrupt Hollywood airhead that Reagan was.

[mredstriumph]

@AtlasShruggery

The FACT is 20th Century "Progressive" (progressively taxing, controlling, & destroying private sector) SOCIAL PROGRAMS are what is destroying the econ

SS is BROKE it was a PONZI scheme & lie. Medicare = BROKE. MEDICARE is the REASON hospitals are insolvent/closing & reason insurance premiums exploded well beyond rate of inflation. ITS NO ACCIDENT. Medicare is a DEADBEAT PAYER who doesn't cover their costs - & even still is slated to be insolvent 2017

Watch IOUSA

[mredstriumph]

@AtlasShruggery

Re:"Wall Street cronies raped the banking system and you tried to blame Frank & Dodd"

Please describe how this happened

Back later

[AtlasShruggery]

The current banking crisis is very similar in origin to the savings and loan collapse of the 1980s. In the 1980s, Ronald Reagan and the RepubliCons let their bankster cronies rape the savings & loans by failing to adequately regulate them. (Actually, if you talk to auditors and bank examiners who were there, they'll tell you there was no reguation at all) Likewise, Junior and the Bushees let their Wall Street cronies rape the commercial banks in the 2000s by again failing to regulate them.

[mredstriumph]

@AtlasShruggery

Here is the LEGISLATION passed by DEMOCRATS that DEREGULATED the mortgage industry:

Federal Housing Enterprises Financial Safety & Soundness Act 1992

Riegle-Neal Interstate Banking & Branching Efficiency Act 1994

Community Reinvestment Act 1995

Taxpayer Relief Act 1997

Gramm Leach Bliley Act 1999 - [77.3% Democrat support (198 out of 256 Democrats)]

Commodity Futures Modernization Act 2000

Each passed by ** Bill Clinton ** & ** ALL ** w MAJORITY Democrat support

[AtlasShruggery]

You RepubliCons are always trying to blame others for your incompetence. Just like 9-11. Just like Iraq. Just like Katrina.

RepubliCons controlled Congress from 1993 to 2007 when those laws were passed. And RepubliCons controlled the entire government from 2001 to 2007. RepubliCon president, RepubliCon Congress and RepubliCons in charge of the Fed and other regulatory agencies. You RepubliCons failed to properly regulate the banks just like you did in the 1980s with the S&Ls.

[mredstriumph]

@AtlasShruggery

Answers: 9/11 (/watch?v=l49hsyYtNFU); Iraq (/watch?v=RB22WRsj24E); Katrina - FEMA (Fed Govt) is NOT a 1st responder!

It was the local DEMOCRATS (the 1st responders) who did not evacuate those people! Local Dems Orleans Levee Board was given ample money over the years to repair the levees, but instead squandered the money on the casino, refurbishing the Mardi Gras fountain & other dubious projects - even though THEY knew it was a hazard;

FEMA is NOT a 1st responder!

[AtlasShruggery]

Heckuva job, Brownie!

You whiney Republican titty babies just don't have the courage to accept responsibility for the inevitable consequences of your incompetence.

[mredstriumph]

@AtlasShruggery

Did you just take a hit off your bong? What's the purpose of this little outburst?

[mredstriumph]

@AtlasShruggery

Here is REPUB legislation TRYING to regulate mortgages & derivitives:

Housing Enterprise Regulatory Act 2005; govtrackDOTus Bill S-190 - killed in committee by DEMOCRATS

Here are Dems LYING & condemning R's for TRYING to Regulate housing & derivitives:

/watch?v=_MGT_cSi7Rs

Was FNM broke Taggart? Did Frank, sleeping w a FNM exec KNOW? What are Jamie Gorelick's qualifications as chair of FNM overseeing $5Tn (50%) of ALL US mortgages ? tinyurlDOTcom/yjje5km

[AtlasShruggery]

Obviously, you've forgotten that you RepubliCons controlled both houses of Congress in 2005. Democrats had no power to legislate or regulate from 2001 to 2007. You can't kill a bill in committee when you're a legislative minority. If there was a problem, why didn't you GOPers do something? You had all the power.

[mredstriumph]

@AtlasShruggery

Re:"If there was a problem, why didnt GOP do something?"

1 - /watch?v=_MGT_cSi7Rs &

govtrackDOTus Bill S-190

2 - Oustanding Q, & I can't tell u how EAGER I am 2 soon field it. Still.. doing so NOW is counter to my purpose - namely 2pound home the point o contention - WHO CAUSED THIS MESS

Re:"You can't kill a bill in committee when you're a legislative minority"

How's commie care going Taggart? BHO has fillibuster proof majority both houses; media; no1 calling racist

[AtlasShruggery]

"BHO has fillibuster proof majority both houses;"

Wrong again, little GOPer. There are 58 Democrats in the Senate. Cloture requires 60 votes. There is no filibuster in the House.

Why do you RepubliCons always demonize poor people? Subprime loans are a very small part of the problem. Whether you like it or not, the current banking crisis is exactly the same thing that happened in the 1980s when the Reaganauts refused to regulate their cronies who were running the savings and loans.

[mredstriumph]

@AtlasShruggery

When did I say ANYTHING about "poor ppl" u pathetic propagandist? DEMOCRATS (HUD) INVENTED SECURITIZATION!

THEY were directly responsible for lowering mortgage standards. Pre-Clinton, u needed 20%, stable employment, good credit, etc. Banks were WORRIED abt defaults

After Clinton = balloon mortgages, NINJA loans, Zero Down, Alt-A, ARMs, etc - all designed to comply with GOVT mandates

Look when bubble inflated for christsake:

tinyurlDOTcom/yekh2eo

1996, after CRA

[mredstriumph]

@mredstriumph

WJC systematically elimin'd credit stds across the board. Loosening the req's (social engineering) o subprime - the most dangerous to finance - led directly to same tools being used by more qualified buyers / flippers. Had NOTHING to do w "poor ppl" & EVERYTHING to do with GOVT meddling

Q - how do u make $ "lending" to some1 who can't pay it back (W-St.)?

A - when GOVT buys the loan

Read: tinyurlDOTcom/yf78jx6

Paragraphs 4, 5, 9

U have yet 2show R's / W's part

[mredstriumph]

@AtlasShruggery

Can u try & be an adult? 58 Dems & 2 "independents" - 1 a card carrying SOCIALIST, the other a former Democrat VP candidate

That technicality in no way invalidates my point - that minority parties r NOT powerless, though R's now r in a much WEAKER position than D's ever were under Bush - & even so just kept Pelosi's X-mas dream from coming true

Procedural Filibusters r largely symbolic.IF a party expresses a willingness to FB, the matter is settled wo the dramatics

[mredstriumph]

@AtlasShruggery

Here are Dems FORCING BANKS to make bad loans using a single FRAUDULENT discrimination study (w later showed NO DISCRIMINATION when data honestly handled) to sue a single mortg provider >$1Bn.

@ 3:45, BHO using ACORN / Alinsky EXTORTION attacking bankers in their homes to INTIMIDATE them into LOWERING LENDING STANDARDS

/watch?v=ivmL-lXNy64

Answer this: How can lenders lend to UNQUALIFIED ppl - who CAN'T pay it back - make $, much less become a "predator"?

[AtlasShruggery]

"No PRESIDENT can fund ANYTHING without the House of Reps"

Never said he could.

Again, how many balanced budgets did Reagan, Bush and Junior Bush submit to Congress in 24 years?

Again, how much spending did Reagan, Bush and Junior Bush veto or refuse to sign in 24 years?

[mredstriumph]

@AtlasShruggery

That YOU r so warped as2 think the progressive party o Welfare, the FED, the NEW DEAL, the GREAT SOCIETY, NATIONALIZED HEALTHCARE, CENTRALIZED CONTROL - is fiscally responsible - that they are FOR constraining budgets (& thereby power) - when doing so is completely contrary to "Hope & Change", "I'm here to make GOVT cool again", "Green Jobs" big brother largess is absolutely inexplicable

The Ayn Rand character name you SHOULD have chosen is Jim Taggart or Wessely Mooch

[AtlasShruggery]

Nah. Ayn Rand was an egomaniacal sociopath who wrote boring fiction. Sadly, Ayn Rand groupies like RepubliCon Alan Greenspan didn't Go Galt before they wrecked the US economy.

[AtlasShruggery]

"I don't worry about the deficit" - Ronald Reagan

[AtlasShruggery]

80% of the US national debt was run up under just three presidents - Reagan, Bush and Junior Bush. All RepubliCons.

[theoriginalanomaly]

That is the point of the gold standard. Do you know how many hours it takes to collect 1 oz of gold? You have to earn it or find it.

[AtlasShruggery]

"Reagan taught us deficits don't matter." - Dick Cheney

[mredstriumph]

Great quote.. but how about a dose of reality?

tinyurlDOTcom/yjr5j8p

US fed debt equal'd 61.4% GDP in 1999; grew to 70.2% GDP in 2008 (under the Bush administration); it will climb to an estimated 90.4% this year & touch the 100% mark in 2011

Meaning 8 YEARS w Katrina, 9/11 (cost US econ $2Trillion), 2 wars, LA wildfires, the rebuild of military & homeland after Clinton, etc - Bush & Repubs expanded debt 8.8% (1.1% per year)

Obama, in office - 8 MONTHS - w no 9/11 or Katrina + 20.4%

[AtlasShruggery]

You're a typical RepubliCon. Ignorant of history and weak at math.

The national debt was $5.5 trillion when Junior Bush took office. The national debt rose to $11 trillion by the time Obama was elected. That's an increase of 100%in just eight years.

[mredstriumph]

@AtlasShruggery

You're a Wilsonian apologist who can't follow a web link to the Wall Street Journal from where the numbers are referenced & math skills are useless when you aren't bright enough to follow directions. The WSJ's #'s are in proportion to the GDP, which is the ONLY metric that matters

Any other comparison is meaningless because GDP & inflation change

Further, you need to go back to remedial civics class, as it's CONGRESS - and most specifically the HOUSE w controls spending

[AtlasShruggery]

"You're a Wilsonian apologist"

Nope. I'm no fan of Wilson. Wilson was like Junior Bush in that he foolishly and needlessly got us involved in an idiotic war.

"it's CONGRESS - and most specifically the HOUSE w controls spending"

Maybe you need to review your 7th grade civics. Every year the president presents a budget to Congress.  In the span of 24 years, neither corrupt Hollywood airhead Ronald Reagan nor Poppy Bush nor Junior Bush ever presented a balanced budget to Congress.

[mredstriumph]

@AtlasShruggery

So you 7th grade special ed teacher has taught you that the President holds the "power of the purse". That the PRESIDENT writes Bills, then passes the Bills to appropriate funding

I knew there was a reason they separated "special needs" people like you from the rest of us. I'm sure that was it

If President writes spending bills - what is the purpose of the House/Congress? Who can restrain the power of the Executive branch? Oh right.. Obama Obama Obama Obama.. never mind

[AtlasShruggery]

"the PRESIDENT writes Bills, then passes the Bills to appropriate funding"

Nope. Reading comprehension just isn't your strong suit is it, little GOPer.

Every year, the president presents a budget to Congress. The House of Representatives appropriates spending based upon that budget. The president can either sign such appropriations, refuse to sign them or veto them. Tell us, please, how much spending did corrupt Hollywood airhead Ronald Reagan veto or refuse to sign in his 8 years?

[mredstriumph]

@AtlasShruggery

Reagan wanted2 fight the Soviets & Totalitarianism. He needed2 undo the DOUBLE DIGIT unemployment, inflation,22% interest rates, & "price fixing"caused energy shortages o Jimmy Carter (the REAL worst economy since 1920's); BOTH of which he did miraculously

Those two GREAT & very REAL accomplishments did NOT allow the luxory o shut'g down the govt in an unconstitutional fight against Congress to force a balanced budget (the exact opp o Clinton's fight 2 keep spending)

[AtlasShruggery]

Again, you're a typical Republican. Ignorant of history and weak at math.

Unemployment peaked at 7.6% under Carter. Unemployment was 7.2% and falling when corrupt Hollywood airhead Ronald Reagan took office. Unemployment rose to 10.8% after two years of Trickle Down Reaganomics. Fortunately, Volker and the Fed got control of inflation, Republicans lost the Senate in the midterms and the economy stabilized.

[mredstriumph]

@AtlasShruggery

nOpe. Sorry. The "Misery Index" (unemployment + inflation) - a metric which acurrately calculates the suffering of the middle class shows:

tinyurlDOTcom/5a8294

Carter (avg 16.26%): 12.72 to 19.72 = PLUS 7.00

Reagan (avg 12.19 ): 19.33 to 9.72 = MINUS 9.61

GHW: 10.07 to 10.30 = +0.23

WJC: 10.56 to 7.29 = -3.27

GWB: 7.93 to 7.29 = -0.64

BHO: 7.63 to 10.02 = PLUS 2.39

& that's IF u don't have a math problem w a 11K net job LOSS "improving" employment (0.2%) lol

[AtlasShruggery]

Nice try, little GOPer. Obama has been in office for 11 months. At the equivalent point in Reagan's term the misery index was 21.02.

[mredstriumph]

@AtlasShruggery

Right.. & Reagan INHERITED 19.72 whearas BHO inherited 7.29, so he was up LESS even at that point (+1.30 vs +2.73)

More importantly, REAGAN didn't SPEND (Print) $3 TRILLION dollars to "improve" his numbers:

Google CNN Bailout tracker. Google how much $ Dems got paid by Goldman Sach

And tell me this Taggart, which party was FOR regulating derivitives, and which party was AGAINST it? Be honest. We'll start there.

[mredstriumph]

@AtlasShruggery

The HOUSE - who passes the budgets - contoled by Democrats from 83rd Congress (1952) until Repub Revolution of '94. 42 YEARS!

Since Democrats controlled the HOUSE, & the HOUSE is the ONLY body that determines spending, all debt in that era is THEIRS

In '95 Reps in the House "Shut down" the gov because they REFUSED to send Clinton a spending budget that was NOT balanced, & Clinton wouldn't sign a budget that WAS. Remember the "Gingrich who stole X-mas" Times cover?

[mredstriumph]

@AtlasShruggery

What were the Govt shutdowns about ('95-'96)?

Soon as R's won the House '94, wouldn't send a budget that WASN'T balanced, & Clinton wouldn't sign one that WAS. Clinton gave speeches daming Repubs for "recklessly" balancing budget, It will hurt SS, starve school lunch progs, gave speeches about how we run deficits w our grocery store, its healthy, etc

WJC VETOED the balanced budget ammendment 3x's - current budget expired all "non-essential" progs had 0$= shutdowns

[mredstriumph]

@AtlasShruggery

..After over 1 year of shutdowns, PUBLIC PRESSURE forced sufficient # o Dems to DESERT Clinton, giving R's enough votes to overturn Clinton's VETO

Once WJC's obstruction / VETO was overcome, Clinton was FORCED to sign the 1st balanced budget - something HE could no longer prevent- or b humiliated

Lets remember that DEMS invented the Fed. They created a PRIVATE (ie - NOT govt) bank 2print & CONTROL our $. Y? 2give govt access 2UNLIMITED line o credit w which to expand govt

[mredstriumph]

More reality for you:

tinyurlDOTcom/cncuyf

USA today: The # fed workers earning six-figure salaries exploded during recession, according to USA TODAY analysis of federal salary data, Fed employees making salaries of $100,000+ jumped from 14% to 19% of civil servants during the recession's 1st 18 months — & that's b4 overtime pay & bonuses r counted

Fed workers r enjoying an extraordinary boom time - in pay & hiring - during a recession that has cost 7.3 million jobs in private sector

[exChristian666]

Yes you are right, There are people who get millions of dollars for few hours, and there are people who just make few bucks in same time. they rarely raise minimum wage while bonuses for CEOs continue to rise.

[exChristian666]

If you believe whatever Beck says than you are more stupid than him.

[ricky0317]

LOL, I knew about it way before beck brought it up. The Federal reserve (which shouldn't exist) has been killing our dollar for years. Now you can be ignorant and play party games, but really, both parties have been doing this for years. The only politician who has stood up to this crap is Ron Paul, and idiots like you dismiss him as a crazy.

[exChristian666]

Yes Gold standard or some international must be followed in printing the money without that dollar will become just piece of paper.

[exChristian666]

This fucking Moron doesn't tell people that Obama took office only in Jan 2009, This stupid pig is giving figure from Sept 2008, He is trying to make some case against Obama than he should clarify figures from Jan20 - till date.

[ricky0317]

Is all you think about politics. He's saying this is wrong, it doesn't matter who's doing it.

[exChristian666]

Where was he during Bush's presidency ? Youtube did not start in 2009, I see no video of Glenn Beck talking about Bush.

[ricky0317]

I really don't care who did it. This is wrong no matter what party is doing it.

[TheLivingDeadOne]

Plus ,.Who in the world would listen to "NIXON"! he was an idiot,. we shoulda undid his decision to not be on the gold standard,. plus,.Goverment shouldnt be borrowing its own money from banks. We dont need a middle man bank for money

[mredstriumph]

Beck didnt explain that well. Lyndon Johnson started the "Great Society" - welfare, medicare, public housing - while simultaneously starting / expanding Kennedy's Vietnam war

This caused other countries, especially France (who like many countries was already off gold standard), to say USA is spending too much, so redeem the dollar & take the gold = began2 empty our treasury of all its gold. When LBJ's term ended, Nixon said enough of this, adjusted gold rate, then eventualy closed gold window

[mredstriumph]

So the REAL idiot was LBJ, & if u wonder about the "Great Society" stop by any city ER on a weekend. btw, they vote

It may interest u 2know DEMOCRAT Woodrow Wilson with fillibuster proof majority started the Fed Res bank 4the sole, but unstated purpose o giving govt access to a UNLIMITED line of credit w which 2expand govment

This way they can spend as much as they want, any time that they want. The reason Dems made it a PRIVATE bank vs govt is bc they don't want u voting on their spending

[TheLivingDeadOne]

Did he just say "Hockey Shit"?

[nikog82]

This is NOT currency being physically printed! Looks like Glen needs a refresher in economics 101. And yes, it can be fairly easily drained from the system.

[HayteStreet]

just like in Zimbabwe right?

[TheMetalPerson]

he honestly said this has never been done before???

[zwiespaltu2]

Notice how Beck keeps talking about "WE" as the cause of the devaluation of the US dollar and the exponential increase in the public debt. Beck is either ignorant or prevaricating about the fact the FED and its fractional reserve banking system is responsible for the current dilemma. Until the power to create money is taken away from private control and given back to society under strict constitutional authority, nothing but red ink, deficients, and social misery is in store for this country

[BlacksAreBeautiful]

EXACTLY!!!!!!!!! this is why i find guys like Beck just as dishonorable as the people in the FED...if he is unwilling to identify the REAL problem, how can he expect it to get solved...the FED is the problem not F;n Al Gore...this guy is all about political lines which is disgusting!!

[jannonymous]

do you have any idea how scarce credit would be if we did not have fractional banking?

[zwiespaltu2]

The 100% reserve solution would not result in a scarcity of available money. The so-called "Chicago Plan" was advocated by top economists in the 1930's and is a cornerstone of the monetary reform plans of the American Monetary Institute. The private creation of money of the current system results in a benefit to the "privates" that control the process. However, that benefit does not belong to them-it belongs to society and results in mounting debts that can never be paid off. Cheers.

[jannonymous]

im not going to argue with you because its not worth it in this venue, but be warned there are a lot of Ron Paul rabble who have some vague ideas about sacking the Fed who are very misinformed and their ideas are unfounded. Be careful before you support these ideas publicly.

[zwiespaltu2]

AMI advocates not sacking the Fed, rather nationalizing it and moving it into the treasury. Their monetary theories are based on an analysis of the last 2000 years of monetary thought by Aristotle and monetary historians such as Alexander Del Mar. I happen to think their ideas are quite well founded and others might as well if they cared to take a look at them. It all boils down to public vs. private control of the money power. Fractional reserve banking perpetuates private control.

[jannonymous]

oh and you think the 'public' is going to be much more wiser and forgiving with credit?

[zwiespaltu2]

Yes. Lincoln thought so as well and monetary history supports him.

"The government should create, issue, and circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of consumers. The privilege of creating and issuing money is not only the supreme prerogative of government, but it is the governments greatest creative opportunity....Money will cease to be master and will then become servant of humanity. -Abraham Lincoln

[HayteStreet]

then fucking abolish the monetary system, it only benefits those in positions of differential advantage.

[victor2cutube]

idiot Glenn Beck doesn't seem to know that the money is being printed by the Federal Reserve.. they are the supporters of the republican party and the elite wealthy.. the people who raped the economy in the first place

[toastertown6]

Glenn's my favorite person on TV.

[shadowlesswalls]

it's suspicious that fox news would show any of this.. maybe the trick of the elites is to rob us on buying expensive gold .. then take it from us to save the economy..i mean they even supported obama.. and we know how that went.. another bush..

[yutakanori]

cool!!

[shiznaw]

PASS THIS ON

Not only did Glenn Fail to Adjust for Inflation, but this moron fails to include the fact that the US Treasury Bills being auctioned are purchased with today's dollars; thus, taking money OUT of the System while Increasing Future Debt.

(It takes money to purchase Treasury Bills & Bonds, we just don't print money)

He is attempting to measure the total increase of our money supply by confusing the future debt payments we as a nation own with the current money being circulated

[1989kirby]

"Glenn Fails to Adjust for Inflation"--

u dont understand: Inflation=Increase in money supply.

w/ this chart, u dont adjust for inflation b/c he is attempting to show inflation by showing money supply growth.

peace.

[shiznaw]

the comment was made:

"Inflation=Increase in money supply...w/ this chart, u dont adjust for inflation b/c he is attempting to show inflation by showing money supply growth."

ANSWER: Wikipedia - Money supply is important because it is linked to inflation by the equation of exchange: MV = PQ

Rearranged - The equation gives the "basic inflation identity": %P = %M + %V - %Q

So, in a recession where V is down and Q is up, an increase in money supply is NOT Inflation, its a good thing.

[shiznaw]

Again to educate the Masses:

Floating additional money within the "money supply" during a recession is NOT Inflation.

Why? Because the basic money equation all economists agree upon is: %P = %M + %V - %Q (wikipedia)

Based upon this equation, Inflation is %p (or a Change in Prices, P).

Under normal conditions, YES an increase in Money directly causes Inflation; however, we are in a REcession where V is down and Q is up, so Money (M) must increase with no adverse short-term effects.

[victor2cutube]

the money borrowed to buy the money is created ad debt by the FED the real power in the country

[JustinBurns]

this was filmed months ago. the most current figure is around 13 trillion dollars (13 thousand billions). in other words make that graph 6 times taller.......

[shiznaw]

PASS THIS ON

Not only did Glenn Fail to Adjust for Inflation, but this moron fails to include the fact that the US Treasury Bills being auctioned are purchased with today's dollars; thus, taking money OUT of the System while Increasing Future Debt.

(It takes money to purchase Treasury Bills & Bonds, we just don't print money)

He is attempting to measure the total increase of our money supply by confusing the future debt payments we as a nation own with the current money being circulated

[phxfreddy]

Meanwhile Dear Leader Obama's actions are the policy equivalent of huffing spray paint from a brown paper sack while Larry Sinclair uses you for his own personal lollypop.

[offdaheez]

its like adding weight to a sinking ship

[KevinAbbeyTech]

All the more reason to participate in the new American tea party.

[lisajason111]

But if we produce more and consume more printing more money that are backed up the extra production and consumption isnt necessarily a bad thing? well, the thing is america isnt producing much...and the consumption is based on the printed money and the stupidity of the chinese government and their terrible social security system.

[jostd48]

Gander Mountain is your friend.

[Jorient405]

Yep - when they actually have ammo that isn't the high dollar stuff in the green and yellow box!

[high5flyer]

They are printing more money b/c they are fighting fire with fire. Deflation and Inflation. The FED is anticipating all the defaults to come, so they are purposely pumping up the money supply to combat that. Keep the status quo!

[zhenhh]

cool! check out Belrion88 clip too!

[azallnight]

The tree of liberty must be refreshed

from time to time with the blood of patriots and

tyrants. It is its natural manure."

[eduard07061979]

I don´t understand why 80 % of the people doesent have any interest on this problem?

[OriginalAtomicSheep]

because 80% of the people don't understand the problem... just like me... and im a freaking commerce student!!!

[lisajason111]

im a commerce student too, and i try to become an Investment banker, i guess that's all of the eco/fin majored students' wish

[OriginalAtomicSheep]

i honestly dont know what i want to do... ive got a better picture as to what each job i involved with and none of it apeals to me

[LessGovMoreFreedom]

They are too busy watching Entertainment Tonight and reading People magazine.

[ivangrozny27]

I cant believe this is Fox. They're actually telling the truth for once. No doubt the next news item was 'we have hard evidence that Al Qaeda intends to blow up heaven'.

[VinceP1974]

He's using "Monetary Base" data. The definition by the Fed is:

The sum of currency in circulation outside Federal

Reserve Banks and the U.S. Treasury, deposits of depository financial institutions

at Federal Reserve Banks, and an adjustment for the effects of changes

in statutory reserve requirements on the quantity of base money held by depositories.

This series is a spliced chain index; see Anderson and Rasche (1996a,b,

2001, 2003).

[hugolp]

I am not sure, but I think it is not the M3 but the M0.