We have had nothing but tax cuts for the last 11 years, and unemployment has gone from 4.0% to 8.3%. The previous administration increased taxes in 1993, and unemployment fell from 7.3% to 4.0%. Can't we finally admit once and for all that tax cuts don't work, and that sometimes, higher taxes are good for the economy?
Foreclosure has been taking a tole on America as well as the rest of the world. Im here to make a difference! Millions of Americans are unemployed and if you are part of this or need some DAILY income then this is probably a good start for you! Make $20+ an hour with online marketing. No get rich quick scheme. Honest pay for honest work! If interested you can check out my webpage!
I am afraid you not going to do it again due moral declaim and the female rule you have. To make change you need man with balls with some moral compass, willing to sacrifice all. You are so PC these days that you are afraid of your own shadow.
One one hand, he is absolutely CORRECT & obviously understands the economic relationships within society & in the business world, etc. & he outlines it well.
HOWEVER, I saw another video earlier whereby he was touting & pushing BIG GOVERNMENT and viewed BIG GOVERNMENT as the only solution and extremely appropriate!
Clearly, we all know that Socialism FAILS (it always does... eventually). Clearly, we know that BIG Government is a HUGE PARASITE.
The best things in life are free .....no matter how bad these economic prophets say things will be ...Humans will find a way out of the dark times , we will band together we will feed the hungry ,we will work together in communities ,we will survive , no matter how far in history you look... humanity survived ,money and material gain is implanted on us from birth ,and remember the govt does not want to lose control of us and money is control
The term giving also relates to to the term taking. Many millions have associated capitalism with debt and consuming. What has cased our problems is monetary policyand wreckless lending, and expansion of our money supply by debt. These problems blew up following the housing boom, but the boom itself was nothing more then the credit/debt issue expanding geometrically. Once the housing bubble burst, we came to the contraction of money to repay debt. Result job loss/forclosure/with the same debt.
There is legislation before congress RIGHT NOW to AUDIT THE FED. Don't you feel that it is prudent for you to contact your elected rep and support this legislation?
@papernpaste Lol do you remember what happened the last time Ron Paul got that partial audit? I think that would be enough of a reason for all americans to support any kind of audit, followed by abolishment
See America pulls all their money in their military which is somewhat 14.6 trillion dollars where if America can shutdown their military for somewhat until they can fix their debt, suggestion of 4 years the economics can improve pretty quickly because the government can pay off the problem and give money to the people.
Greedy ,Hoarding ,Assholes are the only ones who think its OK to pay there workers chump change.All these uber rich assholes have a mental illness called hoarding.Hoarding is the excessive collection of items, along with the inability to discard them.Money is there means of hoarding.They need medicine there sick people.
The whole reason the rich have gained so much and the poor so little is because of the Federal Reserve continually inflating the dollar and thereby decreasing the value of the dollar unit. It especially been a problem over the past 40 years when Nixon, swell guy that he was, ended the "Gold Standard"!
What do you expect to happen to the poor when a private bank is given legal monopoly to counterfeit the currency we all use for it's own purposes?
@Brownyman Ya man, how can we keep paper valuable. I already figured that I should exchange all my paper for silver and gold. Metal is worth so much more than paper.
@Brownyman The federal reserve has nothing to do with the increasing inequality in our society. The merits or demerits of the Fed aside, they are simply unrelated problems.
The rich have, however, taken over our political system. But it's not through the Fed. It's through the Republican Party.
The Federal Reserve manipulates interests rates and destroys savings, the counterfited money attacks the poorest of the poor with the inflation and that is seen whether gas or oil.
The Federal Reserve bails out people and lines the pockets of the fascists, to excuse them is bullshit. To ignore the fed is the ignore all of our problems, central planning.
The Reublicans and Democrats are both in cahoots together screwing over this country.
@RyanR3volution So I guess all the QE Bernanke has been doing has made inflation go crazy, huh? Umm, actually, inflation is extraordinarily low right now and has been for some time. You clearly don't understand economics, you probably just listen to Ron Paul's talking points. Sorry, the man is a raving idiot. Also, you should learn how to spell "counterfeit."
Eh, you are not factoring into the enormous debt that is creating and food and oil prices skyrocketing, living expenses are going nothing but up.
Don't understand economics?
This is coming from someone that says that the organization responsible for the Great Depression and Housing bubble and every other boom and bust, is not responsible for adding to the poor?
LOL
Sorry but interest rates are not just some irrelavant number that can be artificially manipulated without tragedy
@RyanR3volution Exactly how is the debt making food and oil prices rise? The debt would affect our economy by making interest rates on public debt rise, but that isn't happening. Not because of the Fed but because investors continue to see US bonds as sound investments--therefore a debt crisis (a la Greece) is NOT happening here.
The Fed has undoubtedly disrupted the economy, but it has also smoothed over many an economic bust and is far from the largest contributor to the current recession.
But the interest rates are kept artificially low by the fed reserve.
The debt is setting the stage for hyperinflation, like how in 2020, there is going to be $1 tril in interest on the debt alone and that is if there is massive cuts.
?
The Fed creates booms and busts, you stop bubbles by stop the inflation through them.
The current depression we are in was caused by the Fed propping up GSEs.
What about the $115 tril in unpaid liabilities by the gov? Is that crisis worthy?
@RyanR3volution People like you cannot be convinced by the truth, clearly. You continue to use scare tactics. Your crowd has been warning that hyperinflation is "just around the corner" for as long as I can remember. Umm, right. Our current crisis was mostly caused by corporate excesses and deregulation. This has been PROVEN. Stop whining about the Fed. Get back to the real world.
You cannot name one piece of regulation that would have prevented the bust. None. Regulation has only been added. Your arguement does not even make sense because the regulators at the Fed said the economy was sound.
The Federal Reserve distorts interest rates which serve as brakes on the economy, if they are artificial, they are not brakes anymore.
If greed was the cause of depression, we would be on one forever.
Really? So the US gov having $115 trillion dollars in unapaid liabilities through Medicare, Social Security, and Medecaid are just scare tactics?
How is that going to be paid off?
What is going to happen when the elderly in this country explode to unprecedented levels?
Ignoring the Fed's manipulation is insanity, money is 1/2 of every transaction, artificial interest rates and printing money out of thin air caused this mess.
out sourcing caused the problem of rich taken more home. Bargaining power of middle class was greatly reduced. The how much union membership has drop tells it all. also like electing politicians that were bought by the elite.
Bob most respectfully you've NOT a clue WHAT is the "next economy!" It's NOT structural, as it's "long wave." See WHAT the SOLUTION And so well done to Bob, David & Cindy @BobWiedemer@DavidWiiedemer@CindySpitzer that tells it like it is; sorry BOB your spin is OUT.
MAKE A MAIN WEBSITE called barter bay make it to where people worldwide can clone that site and make one for their local area, putting the name of their locale in front of the B bay Name and viola..MONEY is not allowed!!...the purpose is for WE THE PEOPLE to have an outlet and a way to use our own talents skills and trades and other resources by trading to get the things we need...KILL THE MONEY VIA THE BARTER..We have to start somewhere...we just dont know where or how...we must brainstorm!
I respect this mans views... I agree with a lot of his diagnosis of the country and the problems we are facing. We as a world however are not ready for this. The potential for greed and cheating is to great.
Ron Pauls views are much more appropriate for our current state.
Can someone please explain this? 30 years ago, the top 1% earned 9% of total (global?) income. Today, their share is 23%. In these 3 decades, the total number of workers has increased. So, effectively, more number of people are working for less money. How did that happen? Did total income rise so much over 3 decades, that even with 23% gone, there was still enough to go around? It doesn't make much sense... Wonder what people in the future will say looking back.
@neeraj2608 It isn't global wealth that is distributied as you said, it is in America only. The workers in america covered it up with 3 coping mechanisms: 1) women entered the workforce -- 20% of women worked in 1970, now it is 60%, 2) people worked more (500 hours more, or a full 12 weeks) for the same salary, and 3) Americans went in to debt. Now those coping mechanisms are up, and our unequal society is being exposed. or so AFTERSHOCK says -- that's what is in the book.
@neeraj2608 Too sum it up it means the ''elite'' the men at the top our makeing more money and have not raised the middle class wages in so long do to ''money fever'' lol we cant buy the products the econemy is capble of produceing. soulutions raise the wage's here in america. and regulate the free market and fix welfare (seriously i pay some asshole to sleep all day and they cant even enforce the welfare rules!!!?)
People in the USA are the top 1% which is taking the lopsided share of the world's wealth. The developing world is where the earning power needs to be increased. When someone in Indonesia has the income to buy products made by workers in the USA, then the right balance will have been achieved.
Well Annihilate3275, I dont know what planet ur from, but yes, progressive taxation is socialism, matter of fact, it is a basic tennent of socialism as stated in the "Communist Manifasto". Duh. Hello. Need to get your facts straight, as well as your s****. I have tried to see things from the progressive point of view, but for the life of me, I couldnt get my head that far up my butt.
The fundamental going on is that the working class, otherwise known as middle class, is losing ground. Not only is the income going just to the top, but government is encouraging this. Rather than bailing out big banks, the money to stimulate the economy should have been distributed to the middle class citizens with the condition that they pay off their mortgages and outstanding debts. This would have caused a 'trickle up' effect that would have bailed out both citizens and banks.
A simple oversight...We have too many people with too much money PERIOD. How can 40 trillion dollars be floating around between a few hundred million people, when there is not even 10 trillion dollars of trees left for wood, nor another 10 trillions worth of oil, water supplies are running dry that even irrigation isn't going to feed us soon. Most people in USA don't know how to clean their own game, or grow their own crops. We are detached from survival, and Total debt is higher than net worth,
ya gunna do it again ??? americans are fat, lazy and sedated.. ya wont be doing it again champ... oooo and by the way... ya didn't "DO IT" in Vietnam mate..
@ Feliks5050, Who did they bailout? of course the top 1%, and who paid? You through devalued currency, savings and earnings. Fascism comes from the merger of government and corporations. Capitalism dies when the oligarchs are bailed out, that is the old Soviet Union.
@sang3Eta Well said....welcome to the new "free market".....our hard earned money is "free" for their taking. We now live in a fascist state and the majority doesn't get it. People like Robert Reich are hard core centralized control socialsts that kiss the feet of the "too big to fails" just as those in the republican party.
@annihilate3275 also, supply side economics was meant to increase market participants, not create equity for billionaires. I guarantee the ideology you preach doesnt even benefit you, it is probably even against your own interests. Everybody wants to be the to 10%, but only 10% can make it. Our politicians work primarily for such a small segment of society. That is not democracy and letting mega-corps run wild is tyranny.
@annihilate 3275 dont punish the rich being successful? You can only make billions off the labor of others. If the workers stop, so goes the profits. Also, the rich do not pay taxes in equal ratio. $10,000 in taxes from someone making $40,000 means they struggle to exist. $10,000 from someone making $4,000,000,000 is not noticed
@annihilate 3275 I think the best thing to take from this video is lets be pragmatic and stop cookie cutting everything to make things sound like a fairytale. Stop regurgitating fox news and cnn
I'm optimistic about the future but I feel that we all need to understand that when everybody is the same in the eyes of the law, a country prospers!!!! This is why things are not going right in this country!!!!! For instance we all should have the same health care plan as politicians and people in the military, but we don't because if we did that then everybody would try and come over, or partake, well get a late pass everybody is here already!!!!!
The problem that I see with Reich's position is that he's advocatign a re-forging of the New Deal. I think that this is great - I think that the new deal ended the era of robber barons, but I don't think that Reich's idea will work. I think that Info Tech has fundamentally changed the nature of the economy, and a new-deal type model isn't taking this into account.
Who said anything about REQUIRING business to pay higher wages - he's promoting enlightened self-interest. He's also promoting taxing the rich. This is not socialism either - it's just taxation. Your argument = a straw-man.
My grasp on economics is rudimentary at best. Your grasp on economics is as primitive as mine, the differnece is that I don't pretend to know what I'm talking about. Have you ever heard of the Kruger-Dunning effect? Look it up. I think you might be doing that here.
@psusac is high taxation a characteristic of socialism? You also said we need higher wages...how do you propose we do that? Enlightened self-interest you say? Don't make me laugh. HIgher taxes and higher wages (for the sake of higher wages) would definitely be a barrier to solving the employment problem, therefore NOT being good for the economy. You either need to communicate your ideas more clearly or brush up on economic fundamentals.
@Annihilate3275 "Socialism is an economic system in which the means of production are publicly or commonly owned and controlled co-operatively" - notice that this definition doesn't say anything about tax rates (progressive or not). Reich is offering a perscription for changing the economy. He doesn't offer any suggestions about how to implament it. Why does this have your panties all in a bunch? Can't you tell the differnece between what a man is saying and what you think you are hearing?
I don't know how to raise wages. I'm not an economist. But I don't pretend that my oppinion matters either.
2 ideas:
1) Seize the assets of financial execs who commited fraud during the housing bubble and use the money to rebuild infrastructure, reducing unemployment and driveing up wages.
2) Enlist the help of key executives and ask them nicely to increase wages for their lowest paid workers. Get a few big companies on board for this, and competition will drive up wages here as well.
@psusac also, the rich pay a higher percentage in taxes than anyone. Go look up the different tax brackets. it might help. Sure, punish the rich for being successful even more than they already are. Your view of things is myopic at best.
@Annihilate3275 The wealthiest 20% own 91% of the wealth. Do they pay 91% of the taxes? No. They pay 68%. Of course this iswealth, not income, so it's not an apples-to-apples comparison. However this does show that your arguement isn't as cut and dried as it looks at first glance.
Robert Reich only carries water for liberals, or as many liberals now refer to themselves as progressives. He definitely has 'real ideas forward' and 'real solutions', they're simply not the sort of solutions or ideas forward that many Americans would consider appropriate. The fact is that the liberal elite are trying their best to break the country's back. They're almost there. I can tell you that there are more than enough Americans and their second amendment rights to take care that problem.
@ChicaWolverina Are you mentally challenged or something? Who's a coward?? Read the Second Amendment sometime. I'm talking about taking advantage of EVERY aspect of that right as a US citizen.
@benjamminruffin1 Wow, You called it man, I'm BUSTED. As a liberal, I'd like nothing more than to see the wonton destruction of my civilization - I look forward to cannibals feasting on my family and EVERYTHING. When are you going to learn that people who disagree with you are not evil or stupid. In fact, studies have shown that liberals on average have higher IQ's than conservatives: Did it ever occur to you that maybe YOU are the one who is wrong here?
@psusac I'm quite sure my IQ (155) is adequate and you can think that, whatever. Do you really think that this country can go on the way it is with these liberals driving it straight into the ground? I have to wonder if you and your kind really do want the WANTON destruction of OUR civilization. I don't find anything about liberals admirable at all, especially those in power. I find liberalism to be too destructive. You're just one of many parasites that are slowly killing its host. Look around
@benjamminruffin1 OK, smart guy, how EXACTLY are "liberals" driving it into the ground? Which liberals? Are conservatives doing ANYTHING wrong? How about corporations? Is there any meaningful difference between "our country" and "corporate interests?" If so what are they?
For a guy with a 155 IQ, you are throwing around opinions as if they are facts and being completely unspecific about what you are saying. Are you smart enough to know how dumb you sound?
@psusac Corporate interests, like G.E. and Immelt? Which liberals? How about every democrat in D.C.. The Democrat party is not what it used to be. It used to stand for something completely different. Your compassionate, loving Democrats happen to be killing this economy. I know that's hard for you to believe. They do it willingly because there's nothing more evil than a producer. Here's the formula: From each according to their ability, to each according to their needs. Ring a bell, douchebag.
This is, however, exactly what the Established System wants you all to do: argue amongst yourselves and pit Dem's against Rep's, libs(progressives) against conservatives...and while you are busy arguing about who is more intelligent and who has more prerequisits to lead, nothing is accomplished to better our society. This is why it is time for a grass-roots rebellion, WITHIN the democratic system, to oust the Established "two party" System and retake our democracy
Cut down on defence, and offer tax cuts, all the shiny new legislation that they want to push, and deliver an end to the deficit. You don't need the military you have today, military contracts are inefficient, and serve to give the rich back their money anyway. It's taboo, but it shouldn't be, defence cuts should be on the table, no one should score politcal points on the issue of defence, it's retarded.
"fewer immigrants today than five years ago?" does this guy live anywhere near the border? why, and how could that be? did mexicos economy, and corruption suddenly turn 180 degrees? I know there not deporting them.. in new mexico we give them a drivers license so they can vote... democrats! i smell a rat! go Arizona!
After watching this video a few times, I realize this guy thinks the answer is socialism. He promotes the notion that the government can solve all problems and that the "free" market is a negative force.
@Annihilate3275 I am glad you watched it a few times, but our 'free market' system isn't any more 'free market' than it is socialist. free market incentives are important. The question is what the balance is.
@AntiYouist Correct. 'Free market", which is the foundation on which the USA grew strong, is quickly destroyed by over-regulation. You do not own or control your property anymore. The USA is paralyzed by over-regulation. No more industry or manufacturing. Delays in drilling for our abundant natural gas. It does not matter what the industry is, people cannot open businesses because government regulations make it impossible. The USA future: Work for the government or collect welfare.
@woodmansee3109 The crisis was created by under regulation of the finance sector. Under Clinton/Bush regulation of banks was abandoned. The result was massive irresponsibility and fraud in the financial sector which has led to a massive collapse and then recession.
@gartner101 and what makes it worse is the crooked politicians pushed forward a ''get out of jail free card'' where they have a law that if a bank needs a bailout they will get one no matter what! and these banks have discovered how they can manpulate the econemy where they can get bailouts and make a huge profit off of it! ethier that or i am a paranoid idiot lol (like most of youtube!)
@jacobkornbluthdotcom jeez why cant they regulate the amount of companies going over seas! They are tradeing american job's for cheap products that could be made here! They just want to make more money and the chinese work cheap!
The Trade Treaties that this country began signing 40 years ago and continues to sign up through and including the Obama era are one of the contributing factors in our economic collapse...and it isn't over, yet. No, I'm not a doomsdayer but a realist. These are been, supposedly, the "peoples' elected officials" that have done this to America! Don't you think it is by design? Read Call it Conspiracy by Larry Abraham
@jacobkornbluthdotcom Not only is progressive taxation NOT socialist, its greatest proponent was Adam Smith, the Father of Capitalism.
Smith understood that the wealthier members of society had the greater responsbility of taking care of a society. Wealthy citizens benefit the most from public services (roads, waterways, power grids, etc.) and they have far more cash than they need to survive. That's common sense, not socialism.
@Annihilate3275 Always tickles me when you people use the word socialism as if it's a horrible accusation. I'm convinced most of the people who do this have no notion of what socialism is.
By the way, there is no "free" market anymore. The market and political system are owned, and the plebs have no real access.
@Annihilate3275 What suggestions does he make in favor of socialism?
I noticed him saying that we could solve the US financial crisis, "if we just get out of our ideological fixations that somehow - the market is the only way to go or that government is evil." Both of these fixations are represent the idea that government power should be reduced and the free market allowed to be free - which are contrary to the principles of socialism.
What promotions of socialism do you notice from Reich?
@Annihilate3275 Yes, that's it. Cry "socialism" whenever anyone talks about giving the middle class more money. Did you know that they called Henry Ford a socialist for paying his workers enough money that they could actually buy the cars they were making? We need to increase wages. How is that socialism? It's not like governement is owning the means of production - Progressive taxation is not socialism.
@psusac so you support more taxation and requiring businesses to pay higher wages? What exactly would you call that form of government? Not socialism, then what?
@Annihilate3275 Seriously Look up "Socialism" and see how it compares with Reich's proposal. You are throwing socialism around as "a bad idea that I don't like." Socialism is a technical term, and you are not using it correctly. Taxes are not "socialism" incresing wages is not "socialism." The word socialism doesn't mean what you think it means.
@Annihilate3275 sure if you equate that a government that claims it is for and by the people should serve the people - then sure he's a socialist and that's a brand of socialism we sorely need more of not less.
@Annihilate3275 Watch the video again. I don't want people calling you crazy for your stance. Reich is obviously liberal but his argument here was pretty centrist and pragmatist. At least thats what I got from it.
But maybe you'd just call me socialist for my inferences.
Economic collapse is inevitable. The Fed profited $8.4 TRILLION last year from the auction of securities---OFF OF THE BOOKS--without any mention in the REPORT TO CONGRESS! It is embezzlement by counterfeiting! The Ponzi scheme Fed inflicts perpetual indebtedness and confiscates the wealth of the people, and posterity, while impelling the nation to national bankruptcy. search RIP OFF BY THE FED RESERVE, 3W scribd dot com message 48194264
The situation needs adjustments: Poor Americans have to be paid at the level of Vietnamese, Indians and Cambodians. Only then the rich Americans will bring jobs back to U.S. from offshore. Also Europeans are overpaid. So, they are loosing jobs too. So, work hard and be modest in your expectations.
What fundamentally is going on is legalized extortion,bribery complete coruption of all parties and every facet of government. Gluttony beyond imagine.
Lmao, this man makes complete sense and his view is unbiased. However he's very correct on the arrogance of the general populations and fear of anything close to communist and liberal. That view is destroying this country causing unneeded hatred and a turn off for trained/skilled immigrants that will probably contribute to the economy more than harm. I'm considering returning back to my home state of Cali. for education as i currently reside in Canada.
@DforDIckhead2100 oh, I'm sorry, your grammar and interpunction is just fucking perfect. sorry I offended you with my lack of english knowlegde. we can switch to german, spanish, italian, russian or polish, your choice.
Very interesting video. It demonstrates how far the enemies of liberty are willing to go to misrepresent the truth.
To Robert Reich: Free markets ARE the solution to the inequalities of wealth that you somehow accurately describe. And the government IS evil - as is any authoritarian system that subverts the natural autonomy and learning potential of the individual.
To everyone else: any thinker who pretends to be "non-ideological" has a hidden agenda, and Mr Reich's is WRONG.
@sccoast1700 nice comment. I knew that Obama-Hitler's followers are confused: war-mongering, torturers, usurers, but concentration camps? wow. But I guess Obama-Hitler's on his way w/your wish (he added even more "fun" to the patriot act, he'd like to shut down the internet, etc.).
He is so right about the illegal immigrants. There has been illegal immigrants for year cause they take lower paying job. Distribution, living costs and greed are what's pulling America down. People need to be empathetic and know majority are fighting the same fight. Don't attack each-other because that is what's going on, attack the people doing us wrong which are our legislators giving tax breaks for rich and cutting collective bargaining.
Reich sounds a lot like Obama: "We just need to spread the wealth around".. Sounds a lot like socialism to me...and we all know how well THAT works...It is scary that people still believe that Capitalism is the culprit.
The Rothschilds are enslaving the People of the US via the fraudulent criminal conspiracy known as the illegal, unConstitutional Federal Reserve. The entire US government is now simply a puppet of the Rothschild banking dynasty.
“End the Fed”
Every political candidate must be evaluated based upon this single all telling crucial issue. You are either with the People or you are with the Rothschilds and their agents, the international bankers.
Thanks for trying but you don't understand Nigger rich economics
Its hard to respect anyone who cannot or will not prove legally they are a citizen. Respect is not something you get, it has to be earned, and I have no respect for people who do not earn it and want to try to take it and if you don't listen to main street media you are uninformed, if you do, you are misinformed.
The fastest way to get people spending is to reduce the rates on credit cards. In the 1960s we had low inflation and the rates were 12%. Nowadays it is 23%. We also need to restore tax deductions for interest payments.
I like Robert Reich, I don't really know why, but I do like him. This is old news and Robert is way behind the curve on this one. The title is not even original. I have a book with the exact same title. When I checked out this video I thought it was going to be Robert Reich talking about the other book with the same title. No Gold Star on this one. Sorry.
Typical liberal wordsmith. It's not because they're "immigrants." It's because they are here ILLEGALLY!
If you really want the TRUTH about our imploding economy try listening to Gonzalo Lira, Tom Woods, Peter Schiff, Gerald Celente, Max Keiser, Jim Rogers, Ron Paul etc. not the money printing scumbags who have created the mess we're in by promising more and more entitlements to more and more people to buy more and more votes.
Aftershock is an excellent book ... I wish Reich had written this as more of a political plan for the Democrats ... this is the first realistic world view from the middle/left that I have ever seen, and something like this plan is exactly what is needed. We just need enough people to hear it and understand it. Brilliant book, brilliant man.
What a Genius! He can state problems after they occur! Wow! he must have been in politics! Yeah thats it, a politician now trying to sell books....how original....This man is a walking talking maggot, a leach on the ass of Real Americans.
@tacticalfairy wow. agree. america............were we make you rich then robb you blind..........gotta love economics.its a shame.ima start a bank and name it "MAGIC SHOW"were you can watch my money grow, and yours disappear. i need a co- founder.wanna join?.....................lol
The "structural problem" today stands on two legs. The first leg is that we believe that bigger is better. It is not. Stop the mergers.
The second problem is shortsighted greed, and the need to pander to shareholders to the exclusion of everything else. You can make it cheaper in China or India? Good idea! We have forgotten that great companies are built on three pillars: the shareholders, the employees and the customers. Damage one, and the building collapses -- and it will!
Is man made to serve the economy or is the economy a creation of man which is to serve man? IMHO - If an economic theory proves to be a burden to the majority of people it is designed to serve, then it had best be discarded and replaced with a new economic theory that has been proven to work for the majority. What nations have the highest standards of living and what is their economic system? It must be a theory that works! Right?
Only by releaseing anitgravity techloigies as personal craft . and then floating citys. shall turn the tide back to america the great . and noting less will do
Make the country and the world a better place, get an ameriKan politician, a short rope and then have a nice chat in the shade of an oak tree...don't forget the pinic basket and camera to capture the moment.
Reich was on Daily Show talking about his new book last night. I think this is the most coherent description I've heard of our economic crisis and what needs to be done about it.
I loved this video. It's representative of all that's wrong with the progressives AND the republicans. It clearly skips over why this is happening and talks instead about rolling up sleeves. How about the fact that we are shipping manufacturing jobs overseas at alarming rates. We, as a country, are falling behind the rest of the world. Sorry Robert, but it will take more than rolling up our sleeves. How about leadership that knows REAL engineering, not social engineering. Let's make stuff.
I had to hit the stop button when he started on "undocumented" workers. Does this wanker even know any working class folks and the economic damagedone by the neo-slave workers that Reich's corporate masters are smuggling into the country? And what about "undocumented" foreclosures? Reich is nothing more than just another corporate whore trying to keep the peasants voting for the Republocratic single corporate party.
I had to hit the stop button when he started on "undocumented" workers. Does this wanker even know any working class folks and the economic damagedone by the neo-slave workers that Reich's corporate masters are smuggling into the country? And what about "undocumented" foreclosures? Reich is nothing more than just another corporate whore trying to keep the peasants voting for the Republocratic single corporate party.
He's in denial of the inevitable. Everything ends. Collapses. Your life, mine, currencies, monarchies, businesses, nations, plants, animals, etc. But it takes years and years. The "years" are up. It's going to end and it will not be pleasant, face it and adjust. Hoping for history to repeat itself because we did in the past is not going to happen again. One word: Greed. It's taken over like a cancer. Cancer kills.
One of my friends, who lives in Penna, had a job paying him 10.50 an hour and he rented his apt from his landlord as well. A bunch of illegals blew into town and one of them told my friends boss that he would work for 7.00 an hour. The guy fired my friend and also told him he had to move out of the apt. The hispanic guy moved in and within 2 months, the apt was packed with a bunch of other hispanics living there. My friend is STILL unemployed. I told my friend to report his former boss!
@kysmik -- I feel for you friend, and illegals taking his job is wrong, but Reich wouldn't disagree, either. The ideas he presents here would help him. It's disappointing that ideology has led us to a point when conservatives -- particularly hard working people that would be most helped-- can't hear this video and see it has something to help them. Just please consider it. He's more on your side than you know.
You know, I had an open mind for years. But it's hard to keep an open mind and look the other way when our jobs are being outsourced to other countries. A president who says he wants to punish companies that do that and then, he allocates money to train people in India and other foreign lands to take our IT jobs. After that, we have illegals crossing the borders and taking the last 3 jobs left. American's just don't have a chance anymore. Soon, we will be a third world.
@kysmik Ok, fair enough. I happen to believe your fears are real. I'm worried about our country, too. I just happen to believe that people like Reich offer real ideas forward and that the conservative establishment offers people like you and me no real solutions.
@kysmik I hear you dude though the conservatives didn't do much better the infamous when they were in power. They kiss the ass of big business who want cheap labor and at the same time employ half ass measures targeting illegals in other words they talk out of both ends of their mouth. Democrats are no better because they because they kiss illegal minorities asses for potential voting power. What is happening is that both political parties are exploiting illegals for their own agenda.
@kysmik I think your assumtions about the US in the future could well be spot on,China fears no one they are a super power and they dont respect international tecnology rights it doesn'tmatter what come in the future china can produce it cheaper and tecnologhy has made this possible .After that and the Mexican invation parts of America will been lost that is a dead sert America will shrink and the face of America will change colour
@kysmik it is called supply and demand in a free , capitalist society it is survival of the fittest , if your friend was doing a good job , i guarantee his boss wouldnt have replaced him , and at anyrate it is called capitalism , anything to make a buck , if you should see fault it should be on the greedy boss.......the illegal is only filling a demand for cheap labor ,illegal immigration is wrong for everyone , even the immigrant , but as long as greed is more than law , it is what it is....
How sad to know that you may just be right. Because you ARE right, we already know how it all ends.
No hope for a better future for our kids, nothing but serfdom in their futures, a shorter life expectancy than their parents, no chance for a better tomorrow. The American dream is dead.
Robert Reich will never admit that the problem is the FED and central banking practices. One cannot continue to print money transfering wealth from the middle and poor to the uber elite. He's not stupid he knows this but will never admit it. Which makes Reich part of the problem. We will have a dollar crash. We will have a revolution. We will end the FED and throw out these Neo/Keynesian Freidmanite central planners. Sorry Robert anything worth reading has already been written. I'll pass.
We have had nothing but tax cuts for the last 11 years, and unemployment has gone from 4.0% to 8.3%. The previous administration increased taxes in 1993, and unemployment fell from 7.3% to 4.0%. Can't we finally admit once and for all that tax cuts don't work, and that sometimes, higher taxes are good for the economy?
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dailypaymachine 1 month ago
What to do Now ?????
jaysean911 1 month ago
Neo, you have a choice.
syalcin123 1 month ago
I am afraid you not going to do it again due moral declaim and the female rule you have. To make change you need man with balls with some moral compass, willing to sacrifice all. You are so PC these days that you are afraid of your own shadow.
poligon333 1 month ago
your talking about reform that is borderline communism.
alphaprocyonx 2 months ago
Idk, I kinda feel a Jew vibe emanating from this guy......
baller84milw 2 months ago
I have a LOVE-HATE view regarding Robert Reich.
One one hand, he is absolutely CORRECT & obviously understands the economic relationships within society & in the business world, etc. & he outlines it well.
HOWEVER, I saw another video earlier whereby he was touting & pushing BIG GOVERNMENT and viewed BIG GOVERNMENT as the only solution and extremely appropriate!
Clearly, we all know that Socialism FAILS (it always does... eventually). Clearly, we know that BIG Government is a HUGE PARASITE.
DanH454 2 months ago
REAL TALK
sgtmcwallace 3 months ago
The best things in life are free .....no matter how bad these economic prophets say things will be ...Humans will find a way out of the dark times , we will band together we will feed the hungry ,we will work together in communities ,we will survive , no matter how far in history you look... humanity survived ,money and material gain is implanted on us from birth ,and remember the govt does not want to lose control of us and money is control
GrooveDoctor77 3 months ago
The term giving also relates to to the term taking. Many millions have associated capitalism with debt and consuming. What has cased our problems is monetary policyand wreckless lending, and expansion of our money supply by debt. These problems blew up following the housing boom, but the boom itself was nothing more then the credit/debt issue expanding geometrically. Once the housing bubble burst, we came to the contraction of money to repay debt. Result job loss/forclosure/with the same debt.
JohnnyUltra305 3 months ago
There is legislation before congress RIGHT NOW to AUDIT THE FED. Don't you feel that it is prudent for you to contact your elected rep and support this legislation?
papernpaste 3 months ago
@papernpaste Lol do you remember what happened the last time Ron Paul got that partial audit? I think that would be enough of a reason for all americans to support any kind of audit, followed by abolishment
ElxxChupacabra07 3 months ago
gosh, I hope we're gonna' be ok. Seems like dark times :(
Buntzums 3 months ago
See America pulls all their money in their military which is somewhat 14.6 trillion dollars where if America can shutdown their military for somewhat until they can fix their debt, suggestion of 4 years the economics can improve pretty quickly because the government can pay off the problem and give money to the people.
SplitZxxx 3 months ago
Greedy ,Hoarding ,Assholes are the only ones who think its OK to pay there workers chump change.All these uber rich assholes have a mental illness called hoarding.Hoarding is the excessive collection of items, along with the inability to discard them.Money is there means of hoarding.They need medicine there sick people.
deadreck024 5 months ago
End the Federal Reserve!
The whole reason the rich have gained so much and the poor so little is because of the Federal Reserve continually inflating the dollar and thereby decreasing the value of the dollar unit. It especially been a problem over the past 40 years when Nixon, swell guy that he was, ended the "Gold Standard"!
What do you expect to happen to the poor when a private bank is given legal monopoly to counterfeit the currency we all use for it's own purposes?
Brownyman 6 months ago
@Brownyman Ya man, how can we keep paper valuable. I already figured that I should exchange all my paper for silver and gold. Metal is worth so much more than paper.
TheSplugorth 5 months ago
@Brownyman The federal reserve has nothing to do with the increasing inequality in our society. The merits or demerits of the Fed aside, they are simply unrelated problems.
The rich have, however, taken over our political system. But it's not through the Fed. It's through the Republican Party.
Baronski13 5 months ago
@Baronski13
Wow, that is nonsense.
The Federal Reserve manipulates interests rates and destroys savings, the counterfited money attacks the poorest of the poor with the inflation and that is seen whether gas or oil.
The Federal Reserve bails out people and lines the pockets of the fascists, to excuse them is bullshit. To ignore the fed is the ignore all of our problems, central planning.
The Reublicans and Democrats are both in cahoots together screwing over this country.
RyanR3volution 4 months ago
@RyanR3volution So I guess all the QE Bernanke has been doing has made inflation go crazy, huh? Umm, actually, inflation is extraordinarily low right now and has been for some time. You clearly don't understand economics, you probably just listen to Ron Paul's talking points. Sorry, the man is a raving idiot. Also, you should learn how to spell "counterfeit."
Baronski13 4 months ago
@Baronski13
Eh, you are not factoring into the enormous debt that is creating and food and oil prices skyrocketing, living expenses are going nothing but up.
Don't understand economics?
This is coming from someone that says that the organization responsible for the Great Depression and Housing bubble and every other boom and bust, is not responsible for adding to the poor?
LOL
Sorry but interest rates are not just some irrelavant number that can be artificially manipulated without tragedy
RyanR3volution 4 months ago
@RyanR3volution Exactly how is the debt making food and oil prices rise? The debt would affect our economy by making interest rates on public debt rise, but that isn't happening. Not because of the Fed but because investors continue to see US bonds as sound investments--therefore a debt crisis (a la Greece) is NOT happening here.
The Fed has undoubtedly disrupted the economy, but it has also smoothed over many an economic bust and is far from the largest contributor to the current recession.
Baronski13 4 months ago
@Baronski13
But the interest rates are kept artificially low by the fed reserve.
The debt is setting the stage for hyperinflation, like how in 2020, there is going to be $1 tril in interest on the debt alone and that is if there is massive cuts.
?
The Fed creates booms and busts, you stop bubbles by stop the inflation through them.
The current depression we are in was caused by the Fed propping up GSEs.
What about the $115 tril in unpaid liabilities by the gov? Is that crisis worthy?
RyanR3volution 4 months ago
@RyanR3volution People like you cannot be convinced by the truth, clearly. You continue to use scare tactics. Your crowd has been warning that hyperinflation is "just around the corner" for as long as I can remember. Umm, right. Our current crisis was mostly caused by corporate excesses and deregulation. This has been PROVEN. Stop whining about the Fed. Get back to the real world.
Baronski13 4 months ago
@Baronski13
You cannot name one piece of regulation that would have prevented the bust. None. Regulation has only been added. Your arguement does not even make sense because the regulators at the Fed said the economy was sound.
The Federal Reserve distorts interest rates which serve as brakes on the economy, if they are artificial, they are not brakes anymore.
If greed was the cause of depression, we would be on one forever.
You are using a red herring.
The Fed caused this. Sorry
RyanR3volution 4 months ago
@RyanR3volution
"Scare tactics"
Really? So the US gov having $115 trillion dollars in unapaid liabilities through Medicare, Social Security, and Medecaid are just scare tactics?
How is that going to be paid off?
What is going to happen when the elderly in this country explode to unprecedented levels?
Ignoring the Fed's manipulation is insanity, money is 1/2 of every transaction, artificial interest rates and printing money out of thin air caused this mess.
RyanR3volution 4 months ago
out sourcing caused the problem of rich taken more home. Bargaining power of middle class was greatly reduced. The how much union membership has drop tells it all. also like electing politicians that were bought by the elite.
spark300c 6 months ago
the only thing we have to fear is fear itself ...Franklin D. Roosevelt
Doom and Gloom sure sells doesnt it..
branrx 6 months ago
Racist robbie said to make sure whites don't get jobs
Racist reich and charlie rangel agreed to make sure whites are not hired.
biozamadotcom 6 months ago
Bob most respectfully you've NOT a clue WHAT is the "next economy!" It's NOT structural, as it's "long wave." See WHAT the SOLUTION And so well done to Bob, David & Cindy @BobWiedemer @DavidWiiedemer @CindySpitzer that tells it like it is; sorry BOB your spin is OUT.
yyba1 6 months ago
It's sad when people can sell drugs on the street for more than they can make at their jobs and when fruit costs more than snacks....
BeAsTm0aD 6 months ago
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willworkforhorses 6 months ago
I respect this mans views... I agree with a lot of his diagnosis of the country and the problems we are facing. We as a world however are not ready for this. The potential for greed and cheating is to great.
Ron Pauls views are much more appropriate for our current state.
lbacchus888 6 months ago
your verry wise add me as friends
TheSeaMyst 6 months ago
Can someone please explain this? 30 years ago, the top 1% earned 9% of total (global?) income. Today, their share is 23%. In these 3 decades, the total number of workers has increased. So, effectively, more number of people are working for less money. How did that happen? Did total income rise so much over 3 decades, that even with 23% gone, there was still enough to go around? It doesn't make much sense... Wonder what people in the future will say looking back.
neeraj2608 6 months ago 5
@neeraj2608 It isn't global wealth that is distributied as you said, it is in America only. The workers in america covered it up with 3 coping mechanisms: 1) women entered the workforce -- 20% of women worked in 1970, now it is 60%, 2) people worked more (500 hours more, or a full 12 weeks) for the same salary, and 3) Americans went in to debt. Now those coping mechanisms are up, and our unequal society is being exposed. or so AFTERSHOCK says -- that's what is in the book.
jacobkornbluthdotcom 6 months ago 4
@jacobkornbluthdotcom thx for the explanation
neeraj2608 6 months ago
@neeraj2608 Too sum it up it means the ''elite'' the men at the top our makeing more money and have not raised the middle class wages in so long do to ''money fever'' lol we cant buy the products the econemy is capble of produceing. soulutions raise the wage's here in america. and regulate the free market and fix welfare (seriously i pay some asshole to sleep all day and they cant even enforce the welfare rules!!!?)
TheGefro 6 months ago
@neeraj2608 Policy is for sale in this country. Reich is a multi-millionaire, one of the to 1% he talks about. Amazing..........
1Skeptik1 6 months ago
i clicked on this after watching a ron paul video, now if this is not the complete opposite in ideology, just odd suggested video.
brandonofthedead 6 months ago
People in the USA are the top 1% which is taking the lopsided share of the world's wealth. The developing world is where the earning power needs to be increased. When someone in Indonesia has the income to buy products made by workers in the USA, then the right balance will have been achieved.
numbnuts234567 6 months ago
Well Annihilate3275, I dont know what planet ur from, but yes, progressive taxation is socialism, matter of fact, it is a basic tennent of socialism as stated in the "Communist Manifasto". Duh. Hello. Need to get your facts straight, as well as your s****. I have tried to see things from the progressive point of view, but for the life of me, I couldnt get my head that far up my butt.
whystle52 6 months ago
The fundamental going on is that the working class, otherwise known as middle class, is losing ground. Not only is the income going just to the top, but government is encouraging this. Rather than bailing out big banks, the money to stimulate the economy should have been distributed to the middle class citizens with the condition that they pay off their mortgages and outstanding debts. This would have caused a 'trickle up' effect that would have bailed out both citizens and banks.
woodmansee3109 6 months ago
A simple oversight...We have too many people with too much money PERIOD. How can 40 trillion dollars be floating around between a few hundred million people, when there is not even 10 trillion dollars of trees left for wood, nor another 10 trillions worth of oil, water supplies are running dry that even irrigation isn't going to feed us soon. Most people in USA don't know how to clean their own game, or grow their own crops. We are detached from survival, and Total debt is higher than net worth,
crazeydavey1 6 months ago
ya gunna do it again ??? americans are fat, lazy and sedated.. ya wont be doing it again champ... oooo and by the way... ya didn't "DO IT" in Vietnam mate..
YA LOST IN VIETNAM !!
andyinthejungle 6 months ago
@ Feliks5050, Who did they bailout? of course the top 1%, and who paid? You through devalued currency, savings and earnings. Fascism comes from the merger of government and corporations. Capitalism dies when the oligarchs are bailed out, that is the old Soviet Union.
sang3Eta 7 months ago
@sang3Eta Well said....welcome to the new "free market".....our hard earned money is "free" for their taking. We now live in a fascist state and the majority doesn't get it. People like Robert Reich are hard core centralized control socialsts that kiss the feet of the "too big to fails" just as those in the republican party.
manofreedom 6 months ago
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ShaktiLila 7 months ago
Economic wealth redistribution? Are you crazy? It sounds like an old Soviet Union to me.
Feliks5050 7 months ago
@annihilate3275 also, supply side economics was meant to increase market participants, not create equity for billionaires. I guarantee the ideology you preach doesnt even benefit you, it is probably even against your own interests. Everybody wants to be the to 10%, but only 10% can make it. Our politicians work primarily for such a small segment of society. That is not democracy and letting mega-corps run wild is tyranny.
devsteel13 7 months ago
@annihilate 3275 dont punish the rich being successful? You can only make billions off the labor of others. If the workers stop, so goes the profits. Also, the rich do not pay taxes in equal ratio. $10,000 in taxes from someone making $40,000 means they struggle to exist. $10,000 from someone making $4,000,000,000 is not noticed
devsteel13 7 months ago
@annihilate 3275 I think the best thing to take from this video is lets be pragmatic and stop cookie cutting everything to make things sound like a fairytale. Stop regurgitating fox news and cnn
devsteel13 7 months ago
@devsteel13 That regurgitation exemplifies the infiltration of every form of media by the establishment so that it is perpetuated
papernpaste 3 months ago
I'm optimistic about the future but I feel that we all need to understand that when everybody is the same in the eyes of the law, a country prospers!!!! This is why things are not going right in this country!!!!! For instance we all should have the same health care plan as politicians and people in the military, but we don't because if we did that then everybody would try and come over, or partake, well get a late pass everybody is here already!!!!!
brotherfuture 7 months ago
The problem that I see with Reich's position is that he's advocatign a re-forging of the New Deal. I think that this is great - I think that the new deal ended the era of robber barons, but I don't think that Reich's idea will work. I think that Info Tech has fundamentally changed the nature of the economy, and a new-deal type model isn't taking this into account.
psusac 7 months ago
Who said anything about REQUIRING business to pay higher wages - he's promoting enlightened self-interest. He's also promoting taxing the rich. This is not socialism either - it's just taxation. Your argument = a straw-man.
My grasp on economics is rudimentary at best. Your grasp on economics is as primitive as mine, the differnece is that I don't pretend to know what I'm talking about. Have you ever heard of the Kruger-Dunning effect? Look it up. I think you might be doing that here.
psusac 7 months ago
@psusac is high taxation a characteristic of socialism? You also said we need higher wages...how do you propose we do that? Enlightened self-interest you say? Don't make me laugh. HIgher taxes and higher wages (for the sake of higher wages) would definitely be a barrier to solving the employment problem, therefore NOT being good for the economy. You either need to communicate your ideas more clearly or brush up on economic fundamentals.
Annihilate3275 7 months ago
@Annihilate3275 "Socialism is an economic system in which the means of production are publicly or commonly owned and controlled co-operatively" - notice that this definition doesn't say anything about tax rates (progressive or not). Reich is offering a perscription for changing the economy. He doesn't offer any suggestions about how to implament it. Why does this have your panties all in a bunch? Can't you tell the differnece between what a man is saying and what you think you are hearing?
psusac 7 months ago
I don't know how to raise wages. I'm not an economist. But I don't pretend that my oppinion matters either.
2 ideas:
1) Seize the assets of financial execs who commited fraud during the housing bubble and use the money to rebuild infrastructure, reducing unemployment and driveing up wages.
2) Enlist the help of key executives and ask them nicely to increase wages for their lowest paid workers. Get a few big companies on board for this, and competition will drive up wages here as well.
psusac 7 months ago
@psusac also, the rich pay a higher percentage in taxes than anyone. Go look up the different tax brackets. it might help. Sure, punish the rich for being successful even more than they already are. Your view of things is myopic at best.
Annihilate3275 7 months ago
@Annihilate3275 The wealthiest 20% own 91% of the wealth. Do they pay 91% of the taxes? No. They pay 68%. Of course this iswealth, not income, so it's not an apples-to-apples comparison. However this does show that your arguement isn't as cut and dried as it looks at first glance.
psusac 7 months ago
This has been flagged as spam show
In 1979, the top 1% got 9% of GDP. Last year the top 1% took 23.5% of our GDP!
Forbes' 400 Americans' combined wealth is now MORE than the combined wealth of 50% of Americans - PolitiFact.
Last year corporations paid an average 6.6% income tax, and many, like G.E., paid NO federal taxes, even though they made $14 billion!
In 2010 American CEO's gave themselves an average 27% raise!
Welcome to our new American "Corporate Plutocracy!"
Yes, GOP/Tea Party, let's please cut taxes on the rich again??
goog2k 8 months ago
Reich is a coercive little dwarf freak. Just endless marxist nonsense from a complete doofus.
qwertypoiu4321 8 months ago
Robert Reich only carries water for liberals, or as many liberals now refer to themselves as progressives. He definitely has 'real ideas forward' and 'real solutions', they're simply not the sort of solutions or ideas forward that many Americans would consider appropriate. The fact is that the liberal elite are trying their best to break the country's back. They're almost there. I can tell you that there are more than enough Americans and their second amendment rights to take care that problem.
benjamminruffin1 9 months ago
@benjamminruffin1 Shit... you coward!
ChicaWolverina 8 months ago
@ChicaWolverina Are you mentally challenged or something? Who's a coward?? Read the Second Amendment sometime. I'm talking about taking advantage of EVERY aspect of that right as a US citizen.
Are you a US citizen?
benjamminruffin1 8 months ago
@benjamminruffin1 Wow, You called it man, I'm BUSTED. As a liberal, I'd like nothing more than to see the wonton destruction of my civilization - I look forward to cannibals feasting on my family and EVERYTHING. When are you going to learn that people who disagree with you are not evil or stupid. In fact, studies have shown that liberals on average have higher IQ's than conservatives: Did it ever occur to you that maybe YOU are the one who is wrong here?
psusac 7 months ago
@psusac I'm quite sure my IQ (155) is adequate and you can think that, whatever. Do you really think that this country can go on the way it is with these liberals driving it straight into the ground? I have to wonder if you and your kind really do want the WANTON destruction of OUR civilization. I don't find anything about liberals admirable at all, especially those in power. I find liberalism to be too destructive. You're just one of many parasites that are slowly killing its host. Look around
benjamminruffin1 7 months ago
@benjamminruffin1 OK, smart guy, how EXACTLY are "liberals" driving it into the ground? Which liberals? Are conservatives doing ANYTHING wrong? How about corporations? Is there any meaningful difference between "our country" and "corporate interests?" If so what are they?
For a guy with a 155 IQ, you are throwing around opinions as if they are facts and being completely unspecific about what you are saying. Are you smart enough to know how dumb you sound?
psusac 7 months ago
@psusac Corporate interests, like G.E. and Immelt? Which liberals? How about every democrat in D.C.. The Democrat party is not what it used to be. It used to stand for something completely different. Your compassionate, loving Democrats happen to be killing this economy. I know that's hard for you to believe. They do it willingly because there's nothing more evil than a producer. Here's the formula: From each according to their ability, to each according to their needs. Ring a bell, douchebag.
benjamminruffin1 7 months ago
@benjamminruffin1 See? Liberals are boogie-men to you. You paint us all with one brush and hate us all equally. You are an equal-oportunity hater.
psusac 7 months ago
@psusac
LOL. "Foul!"
This is, however, exactly what the Established System wants you all to do: argue amongst yourselves and pit Dem's against Rep's, libs(progressives) against conservatives...and while you are busy arguing about who is more intelligent and who has more prerequisits to lead, nothing is accomplished to better our society. This is why it is time for a grass-roots rebellion, WITHIN the democratic system, to oust the Established "two party" System and retake our democracy
papernpaste 3 months ago
Cut down on defence, and offer tax cuts, all the shiny new legislation that they want to push, and deliver an end to the deficit. You don't need the military you have today, military contracts are inefficient, and serve to give the rich back their money anyway. It's taboo, but it shouldn't be, defence cuts should be on the table, no one should score politcal points on the issue of defence, it's retarded.
NeonSloaney 9 months ago
"fewer immigrants today than five years ago?" does this guy live anywhere near the border? why, and how could that be? did mexicos economy, and corruption suddenly turn 180 degrees? I know there not deporting them.. in new mexico we give them a drivers license so they can vote... democrats! i smell a rat! go Arizona!
hawtdog79 10 months ago
chuck norris can solve all the economic problems around the world .. starting with america !
clash92779093 10 months ago
After watching this video a few times, I realize this guy thinks the answer is socialism. He promotes the notion that the government can solve all problems and that the "free" market is a negative force.
Annihilate3275 10 months ago
@Annihilate3275 I am glad you watched it a few times, but our 'free market' system isn't any more 'free market' than it is socialist. free market incentives are important. The question is what the balance is.
jacobkornbluthdotcom 10 months ago 12
@jacobkornbluthdotcom Wait, there is no free market? LOL
AntiYouist 7 months ago
@AntiYouist Correct. 'Free market", which is the foundation on which the USA grew strong, is quickly destroyed by over-regulation. You do not own or control your property anymore. The USA is paralyzed by over-regulation. No more industry or manufacturing. Delays in drilling for our abundant natural gas. It does not matter what the industry is, people cannot open businesses because government regulations make it impossible. The USA future: Work for the government or collect welfare.
woodmansee3109 6 months ago
@woodmansee3109 The crisis was created by under regulation of the finance sector. Under Clinton/Bush regulation of banks was abandoned. The result was massive irresponsibility and fraud in the financial sector which has led to a massive collapse and then recession.
gartner101 6 months ago
@gartner101 and what makes it worse is the crooked politicians pushed forward a ''get out of jail free card'' where they have a law that if a bank needs a bailout they will get one no matter what! and these banks have discovered how they can manpulate the econemy where they can get bailouts and make a huge profit off of it! ethier that or i am a paranoid idiot lol (like most of youtube!)
TheGefro 6 months ago
Respond to this video... How hard would it be for China to step in and take the USA over? They already own us because of our debt obligation to them.
woodmansee3109 6 months ago
@jacobkornbluthdotcom jeez why cant they regulate the amount of companies going over seas! They are tradeing american job's for cheap products that could be made here! They just want to make more money and the chinese work cheap!
TheGefro 6 months ago
@TheGefro
Because its all about greed...the profit margin
The Trade Treaties that this country began signing 40 years ago and continues to sign up through and including the Obama era are one of the contributing factors in our economic collapse...and it isn't over, yet. No, I'm not a doomsdayer but a realist. These are been, supposedly, the "peoples' elected officials" that have done this to America! Don't you think it is by design? Read Call it Conspiracy by Larry Abraham
papernpaste 3 months ago
@papernpaste Alright, I have one question ''What do we do...?''
TheGefro 3 months ago
@jacobkornbluthdotcom Not only is progressive taxation NOT socialist, its greatest proponent was Adam Smith, the Father of Capitalism.
Smith understood that the wealthier members of society had the greater responsbility of taking care of a society. Wealthy citizens benefit the most from public services (roads, waterways, power grids, etc.) and they have far more cash than they need to survive. That's common sense, not socialism.
KamikazeJonez 4 months ago 7
@KamikazeJonez No...that's socialism(.)
ThisIsRogueLiberty 1 month ago
@Annihilate3275 Always tickles me when you people use the word socialism as if it's a horrible accusation. I'm convinced most of the people who do this have no notion of what socialism is.
By the way, there is no "free" market anymore. The market and political system are owned, and the plebs have no real access.
aluisious 8 months ago
@Annihilate3275 What suggestions does he make in favor of socialism?
I noticed him saying that we could solve the US financial crisis, "if we just get out of our ideological fixations that somehow - the market is the only way to go or that government is evil." Both of these fixations are represent the idea that government power should be reduced and the free market allowed to be free - which are contrary to the principles of socialism.
What promotions of socialism do you notice from Reich?
TheGlobalFCzone 8 months ago
@Annihilate3275 Yes, that's it. Cry "socialism" whenever anyone talks about giving the middle class more money. Did you know that they called Henry Ford a socialist for paying his workers enough money that they could actually buy the cars they were making? We need to increase wages. How is that socialism? It's not like governement is owning the means of production - Progressive taxation is not socialism.
Stop fearing the boogie man.
psusac 7 months ago 10
@psusac so you support more taxation and requiring businesses to pay higher wages? What exactly would you call that form of government? Not socialism, then what?
Annihilate3275 7 months ago
@Annihilate3275 Seriously Look up "Socialism" and see how it compares with Reich's proposal. You are throwing socialism around as "a bad idea that I don't like." Socialism is a technical term, and you are not using it correctly. Taxes are not "socialism" incresing wages is not "socialism." The word socialism doesn't mean what you think it means.
psusac 7 months ago
raising taxes = less money for the consumer to spend, therefore slowing economic growth.
requiring businesses to raise wages = less incentive to hire new employees.
Your grasp on economics is inspiring.
Annihilate3275 7 months ago
@psusac it is socialism when you talk about "giving" anyone more money when that giving is done through government. that’s kind of the definition
subzeroo3 3 months ago
@Annihilate3275 sure if you equate that a government that claims it is for and by the people should serve the people - then sure he's a socialist and that's a brand of socialism we sorely need more of not less.
tcdowning666 7 months ago
@Annihilate3275 Watch the video again. I don't want people calling you crazy for your stance. Reich is obviously liberal but his argument here was pretty centrist and pragmatist. At least thats what I got from it.
But maybe you'd just call me socialist for my inferences.
fububalla 4 months ago
Economic collapse is inevitable. The Fed profited $8.4 TRILLION last year from the auction of securities---OFF OF THE BOOKS--without any mention in the REPORT TO CONGRESS! It is embezzlement by counterfeiting! The Ponzi scheme Fed inflicts perpetual indebtedness and confiscates the wealth of the people, and posterity, while impelling the nation to national bankruptcy. search RIP OFF BY THE FED RESERVE, 3W scribd dot com message 48194264
oldereb38 10 months ago
The situation needs adjustments: Poor Americans have to be paid at the level of Vietnamese, Indians and Cambodians. Only then the rich Americans will bring jobs back to U.S. from offshore. Also Europeans are overpaid. So, they are loosing jobs too. So, work hard and be modest in your expectations.
freediver57 11 months ago
What fundamentally is going on is legalized extortion,bribery complete coruption of all parties and every facet of government. Gluttony beyond imagine.
c00per69 11 months ago
Lmao, this man makes complete sense and his view is unbiased. However he's very correct on the arrogance of the general populations and fear of anything close to communist and liberal. That view is destroying this country causing unneeded hatred and a turn off for trained/skilled immigrants that will probably contribute to the economy more than harm. I'm considering returning back to my home state of Cali. for education as i currently reside in Canada.
eviltwin777 11 months ago
I love when people pretend they're being interviewed so they can self-promote
I'd have more respect if they'd just say what they want to say instead of pretending someone asked them
DforDIckhead2100 11 months ago
@DforDIckhead2100 this type of presentation is called documentary, you moron, and nobody pretends nothing.
vivid1234 11 months ago
@vivid1234 "nobody pretends nothing" LOL
DforDIckhead2100 11 months ago
@DforDIckhead2100 yes, that's pretty funny. what does it bring to the conversation?
vivid1234 11 months ago
@vivid1234 it brings this: fuck off
DforDIckhead2100 11 months ago
@DforDIckhead2100 awesome. now you can go back to your burger and fries, redneck.
vivid1234 11 months ago
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@DforDIckhead2100 oh, I'm sorry, your grammar and interpunction is just fucking perfect. sorry I offended you with my lack of english knowlegde. we can switch to german, spanish, italian, russian or polish, your choice.
vivid1234 11 months ago
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vivid1234 11 months ago
Does anyone listen to this twisted little anti american munchkin?
tacticalfairy 11 months ago
Very interesting video. It demonstrates how far the enemies of liberty are willing to go to misrepresent the truth.
To Robert Reich: Free markets ARE the solution to the inequalities of wealth that you somehow accurately describe. And the government IS evil - as is any authoritarian system that subverts the natural autonomy and learning potential of the individual.
To everyone else: any thinker who pretends to be "non-ideological" has a hidden agenda, and Mr Reich's is WRONG.
JayBlue72 1 year ago
Robert Reich makes sense. People tend to resort to hatred when things get tough. It doesn't fix anything. That is why Hitler was elected.
sccoast1700 1 year ago
@sccoast1700 so electing obama-hitler2 has helped?
DforDIckhead2100 11 months ago
@DforDIckhead2100
If Obama was like Hitler you Teabaggers would be locked up in concentration camps.
Bush set this recession in motion, not Obama. He's cleaning up the mss the Republicans left.
sccoast1700 11 months ago
@DforDIckhead2100
If Obama was like Hitler you Teabaggers would be locked up in concentration camps.
Bush set this recession in motion, not Obama. He's cleaning up the mess the Republicans left.
sccoast1700 11 months ago
@sccoast1700 nice comment. I knew that Obama-Hitler's followers are confused: war-mongering, torturers, usurers, but concentration camps? wow. But I guess Obama-Hitler's on his way w/your wish (he added even more "fun" to the patriot act, he'd like to shut down the internet, etc.).
DforDIckhead2100 11 months ago
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Fjaertorslovaark 1 year ago
He is so right about the illegal immigrants. There has been illegal immigrants for year cause they take lower paying job. Distribution, living costs and greed are what's pulling America down. People need to be empathetic and know majority are fighting the same fight. Don't attack each-other because that is what's going on, attack the people doing us wrong which are our legislators giving tax breaks for rich and cutting collective bargaining.
TheYanna2009 1 year ago
Liberty is the answer to our problems.
willjsays 1 year ago
There is no shame in having no money. There is only shame in having to much money.
carl77777 1 year ago
Reich sounds a lot like Obama: "We just need to spread the wealth around".. Sounds a lot like socialism to me...and we all know how well THAT works...It is scary that people still believe that Capitalism is the culprit.
themesong16 1 year ago
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Every political candidate must be evaluated based upon this single all telling crucial issue. You are either with the People or you are with the Rothschilds and their agents, the international bankers.
This is the new American litmus test.
Lentenlands 1 year ago
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Thanks for trying but you don't understand Nigger rich economics
Its hard to respect anyone who cannot or will not prove legally they are a citizen. Respect is not something you get, it has to be earned, and I have no respect for people who do not earn it and want to try to take it and if you don't listen to main street media you are uninformed, if you do, you are misinformed.
411American 1 year ago
The fastest way to get people spending is to reduce the rates on credit cards. In the 1960s we had low inflation and the rates were 12%. Nowadays it is 23%. We also need to restore tax deductions for interest payments.
cloudsurfer007 1 year ago
I like Robert Reich, I don't really know why, but I do like him. This is old news and Robert is way behind the curve on this one. The title is not even original. I have a book with the exact same title. When I checked out this video I thought it was going to be Robert Reich talking about the other book with the same title. No Gold Star on this one. Sorry.
acuriousbeast 1 year ago
China can out punch America injust about verything they have the people without the workers rights issues.
edwards21416 1 year ago
OOpsie!! He said "Progressive"!!
savgal1211 1 year ago
I read AFTERSHOCK, the First book, not Reich's, how can he steal that title??
savgal1211 1 year ago
Democracy is two wolves and a sheep voting on what to have for lunch.
chickatawbutt 1 year ago
Typical liberal wordsmith. It's not because they're "immigrants." It's because they are here ILLEGALLY!
If you really want the TRUTH about our imploding economy try listening to Gonzalo Lira, Tom Woods, Peter Schiff, Gerald Celente, Max Keiser, Jim Rogers, Ron Paul etc. not the money printing scumbags who have created the mess we're in by promising more and more entitlements to more and more people to buy more and more votes.
chickatawbutt 1 year ago
Aftershock is an excellent book ... I wish Reich had written this as more of a political plan for the Democrats ... this is the first realistic world view from the middle/left that I have ever seen, and something like this plan is exactly what is needed. We just need enough people to hear it and understand it. Brilliant book, brilliant man.
justgivemethetruth 1 year ago
Maggot!
tacticalfairy 1 year ago
What a Genius! He can state problems after they occur! Wow! he must have been in politics! Yeah thats it, a politician now trying to sell books....how original....This man is a walking talking maggot, a leach on the ass of Real Americans.
tacticalfairy 1 year ago
@tacticalfairy wow. agree. america............were we make you rich then robb you blind..........gotta love economics.its a shame.ima start a bank and name it "MAGIC SHOW"were you can watch my money grow, and yours disappear. i need a co- founder.wanna join?.....................lol
cnf2415 1 year ago
Sorry... too mild; the problem is systemic at the monetary level, and tweaking isn't going to do anything of import.
npolimeni 1 year ago
Middle class incomes were on the rise until about 1968 when they satrted to slide! They started to plummet in 1983!
Wall Street and corporate CEO's did this to America! How many Bankers and CEO's do ya think are Democrats?
Wake up working class people! The Republicans are not your friends!
EFISHANT 1 year ago
@EFISHANT wow. agree.as of right now i am a rep. wait till next elections ima do a 360. dem. all day
cnf2415 1 year ago
The "structural problem" today stands on two legs. The first leg is that we believe that bigger is better. It is not. Stop the mergers.
The second problem is shortsighted greed, and the need to pander to shareholders to the exclusion of everything else. You can make it cheaper in China or India? Good idea! We have forgotten that great companies are built on three pillars: the shareholders, the employees and the customers. Damage one, and the building collapses -- and it will!
pietopperman 1 year ago
Is man made to serve the economy or is the economy a creation of man which is to serve man? IMHO - If an economic theory proves to be a burden to the majority of people it is designed to serve, then it had best be discarded and replaced with a new economic theory that has been proven to work for the majority. What nations have the highest standards of living and what is their economic system? It must be a theory that works! Right?
ankharris 1 year ago
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Only by releaseing anitgravity techloigies as personal craft . and then floating citys. shall turn the tide back to america the great . and noting less will do
solvssod 1 year ago
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solvssod 1 year ago
Make the country and the world a better place, get an ameriKan politician, a short rope and then have a nice chat in the shade of an oak tree...don't forget the pinic basket and camera to capture the moment.
chessgame1960 1 year ago
Nothing changes until we the people rise up.
Antiks72 1 year ago
Reich was on Daily Show talking about his new book last night. I think this is the most coherent description I've heard of our economic crisis and what needs to be done about it.
tominphx 1 year ago
I loved this video. It's representative of all that's wrong with the progressives AND the republicans. It clearly skips over why this is happening and talks instead about rolling up sleeves. How about the fact that we are shipping manufacturing jobs overseas at alarming rates. We, as a country, are falling behind the rest of the world. Sorry Robert, but it will take more than rolling up our sleeves. How about leadership that knows REAL engineering, not social engineering. Let's make stuff.
cujet 1 year ago
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I had to hit the stop button when he started on "undocumented" workers. Does this wanker even know any working class folks and the economic damagedone by the neo-slave workers that Reich's corporate masters are smuggling into the country? And what about "undocumented" foreclosures? Reich is nothing more than just another corporate whore trying to keep the peasants voting for the Republocratic single corporate party.
kbatcho 1 year ago
I had to hit the stop button when he started on "undocumented" workers. Does this wanker even know any working class folks and the economic damagedone by the neo-slave workers that Reich's corporate masters are smuggling into the country? And what about "undocumented" foreclosures? Reich is nothing more than just another corporate whore trying to keep the peasants voting for the Republocratic single corporate party.
kbatcho 1 year ago 2
He's in denial of the inevitable. Everything ends. Collapses. Your life, mine, currencies, monarchies, businesses, nations, plants, animals, etc. But it takes years and years. The "years" are up. It's going to end and it will not be pleasant, face it and adjust. Hoping for history to repeat itself because we did in the past is not going to happen again. One word: Greed. It's taken over like a cancer. Cancer kills.
thecomingdepression 1 year ago
One of my friends, who lives in Penna, had a job paying him 10.50 an hour and he rented his apt from his landlord as well. A bunch of illegals blew into town and one of them told my friends boss that he would work for 7.00 an hour. The guy fired my friend and also told him he had to move out of the apt. The hispanic guy moved in and within 2 months, the apt was packed with a bunch of other hispanics living there. My friend is STILL unemployed. I told my friend to report his former boss!
kysmik 1 year ago
@kysmik -- I feel for you friend, and illegals taking his job is wrong, but Reich wouldn't disagree, either. The ideas he presents here would help him. It's disappointing that ideology has led us to a point when conservatives -- particularly hard working people that would be most helped-- can't hear this video and see it has something to help them. Just please consider it. He's more on your side than you know.
jacobkornbluthdotcom 1 year ago 12
@jacobkornbluthdotcom
You know, I had an open mind for years. But it's hard to keep an open mind and look the other way when our jobs are being outsourced to other countries. A president who says he wants to punish companies that do that and then, he allocates money to train people in India and other foreign lands to take our IT jobs. After that, we have illegals crossing the borders and taking the last 3 jobs left. American's just don't have a chance anymore. Soon, we will be a third world.
kysmik 1 year ago
@kysmik Ok, fair enough. I happen to believe your fears are real. I'm worried about our country, too. I just happen to believe that people like Reich offer real ideas forward and that the conservative establishment offers people like you and me no real solutions.
jacobkornbluthdotcom 1 year ago 17
@jacobkornbluthdotcom Well said.
omigrad 1 year ago
@kysmik I hear you dude though the conservatives didn't do much better the infamous when they were in power. They kiss the ass of big business who want cheap labor and at the same time employ half ass measures targeting illegals in other words they talk out of both ends of their mouth. Democrats are no better because they because they kiss illegal minorities asses for potential voting power. What is happening is that both political parties are exploiting illegals for their own agenda.
silvior47 1 year ago
@kysmik I think your assumtions about the US in the future could well be spot on,China fears no one they are a super power and they dont respect international tecnology rights it doesn'tmatter what come in the future china can produce it cheaper and tecnologhy has made this possible .After that and the Mexican invation parts of America will been lost that is a dead sert America will shrink and the face of America will change colour
edwards21416 1 year ago
@kysmik The govt needs to address holding employers accountable, they turn a blind eye because big business likes cheap labor.
sk8raz2k1 1 year ago
@sk8raz2k1
Well, you'll get no argument there but I wont hold my breath waiting.
kysmik 1 year ago
@kysmik it is called supply and demand in a free , capitalist society it is survival of the fittest , if your friend was doing a good job , i guarantee his boss wouldnt have replaced him , and at anyrate it is called capitalism , anything to make a buck , if you should see fault it should be on the greedy boss.......the illegal is only filling a demand for cheap labor ,illegal immigration is wrong for everyone , even the immigrant , but as long as greed is more than law , it is what it is....
MrJoser2ro 1 year ago
@MrJoser2ro
How sad to know that you may just be right. Because you ARE right, we already know how it all ends.
No hope for a better future for our kids, nothing but serfdom in their futures, a shorter life expectancy than their parents, no chance for a better tomorrow. The American dream is dead.
kysmik 1 year ago
@kysmik Call ICE and Homeland security and bust his ass.............
sherkhan17 10 months ago
I like Reich but his optimism is incongruous with the discourse that the have's are engaging in.
charlesfrith 1 year ago
Reich confuses consequence with causality. Fatally.
ufamizm 1 year ago
Robert Reich will never admit that the problem is the FED and central banking practices. One cannot continue to print money transfering wealth from the middle and poor to the uber elite. He's not stupid he knows this but will never admit it. Which makes Reich part of the problem. We will have a dollar crash. We will have a revolution. We will end the FED and throw out these Neo/Keynesian Freidmanite central planners. Sorry Robert anything worth reading has already been written. I'll pass.
lintburger 1 year ago