@Minethis1 I agree with your views on stimulus and austerity, but I think here in the States the difference is that the gov't has incentivized the banks into not lending. This has been reported in many places...the Fed actually pays the banks an interest rate to keep the money. based on my inquiries into the matter the Federal regulators actually compel some banks into reducing their loans and making it difficult to get one. These things reflect Geithner's fears more than anything ...
@Zakdayak Complicated issue to say the least. On the one hand its good not to lend too much so the private sector can deleveraging. On the other if the economy is too sluggish they need to lend a bit more. You know the market is double riping now and thats good but not sustainable there is a lot of pent-up demand. ie. people put off buying big ticket items during the down turn. Furthermore EZ is collapsing under idiotic Schiff Rp Austerity thinking. Money is pouring into the US.
Richard C. Koo is of course right. He understands MMT and balance sheet rebalancing recession dynamics, is not a goldbug-idiot harking back to an era of deflationary depressions (yes, read your gold financial history) and is a pure pragmatist.
I wish we had more economists like him. People who know history and who are not tied to dogma.
@ltmikepowell Maybe you should actually *study* hyper-inflation before you go off spouting nonsense. Also, you could study a bit of monetary history in Japan and try and find that hyper-inflation.
Try Bernholz as a good starting point as a rigorous study into hyperinflation.
Peter Schiff is a broken record who doesn't understand MMT, inflation mechanisms or aggregates.
It's sad he's being parroted around as an economist, when even my history teacher friend knows more.
you didn't climb out of anything u moron! that's why we need sound money and morons like you who think you're smarter than everyone to get out of the way! ppl of japan are fleeced by idiots like you playing games with their money!
@donotbecrappy LOL! here are some facts about your "Sound money".
1. Gold is down 75% inflation adjusted since the 80's
2. The Great Depression occurred while on the Gold std
3. US Gov had a surplus in 1929 a lot of good that did! Lost 60% of GDP.
4. Gold based currency are obsolete World wide for a reason!
5. The Idea that the Amount of gold a country produces will somehow be better in identifying true economic productive output is a Joke! Gold is a FAILED ancient currency!
@Minethis1 pretty much what any person educated in basic economics would tell you. Winston Churchill had even said that the worst decision he ever made was to make his country revert to the gold standard after WW1. Austrian economics has unfortunately not been properly criticized and opposed by prominent people and news sources. This is probably because most people do not understand much about economics in the first place.
@Minethis1 Did you know fiat money which those Keynesian economists wanted is promoting INFLATION that could destroy the middle-class in the country?
Gold is money. A money will work very well when all paper money fail. Just look at Zimbabwe for one good example, they forced to trade goods with gold/silver.
Thomas Jefferson once said, paper is a ghost, any money that only valued by paper won't have any value.
@ltmikepowell You point to me in a time period in the last 5000 years that Gold and Silver were not Unearthed and supply was not constantly expanded! Especially in the Industrial revolution that Greatly expanded the supply. I am waiting for your response!
@Minethis1 Golds and silvers can't printed out of thin air. Therefore golds and silvers ARE the indicator of paper money's trust from the investors. And when those metals' prices rise, you'll know what it mean.
@Minethis1 And yes, what will you do when paper money failed and they only accept golds/silvers. Don't blame others in your dead if someone shoot you hard when you're looting and robbing.
@ltmikepowell What kind of nonsense are you talking about again?
Thomas Jefferson, Founding Fathers, Austrian Koo Koo economics, Zimbabwe, Gold, Silver, Ron Paul, Schiff, Alex Jones, Celente, BLAH BLAH BLAH! All a Bunch of fucken nonsense spouted by fucken Branch Davidian retarded sheep!
You will never get your collapse Poncho! Never! It's all Fantasy and Fairytale!
@Minethis1 Just wait when the U.S. national debts breached 20 trillions and if those creditor nations react for their debt loan that won't able to repay, expect the worst to happen.
By the way, how much Zimbabwe Dollar you have right now, starving billionaire?
@ltmikepowell Thats what they said at 500 mil 1T 2T 3T 4T 5T 6T 7T 8T 9T 10T 11T 12T 13T 14T 15T on and on. Listen I don't blame you for being a bearshitter! You know no better. You only listen to what you want to hear Doom and Gloom! If you were balanced and bothered to learn what reality is you would not listen to these clowns. But you don't bother to learn it's your fault for being ignorant. Not Schiffy. SO don't bother with my channel keep listening to what you want to hear.
@Minethis1 Doom and gloom? I hear more doom and gloom, because our world is mostly ruled by psychopath, sociopath and resided willful ignorant dummies.
@Minethis1 1.) Do your math again. Since 1980 gold is only down about 20% inflation adjusted. But you confidently picked the height of the gold bubble to start the calculation. If you picked 1982 as your starting year gold would be up roughly 80% inflation adjusted.
2) Not exactly. The collapse of the money supply following 1929 wasn't do to gold (unless there was a shipwreck I'm not aware of). It was do to a collapse in credit/policy blunder on the part of the Fed.
@ChrisPacia Why would I not pick the top in gold? Gold was priced for the extraordinary inflation no? According to you Bozo's we are hyper inflating! Inflation has run crazy! Has it not since 1980? 29 years and no inflation that can beat 80's high's inflation adjusted? But go to the super market aren't prices up? OH! I get it food is only 14.7% of total income. Okay makes sense. But Schiff said we are going to collapse by devaluing the $! Still 75% below 80s??
@Minethis1 3) Ya there was a surplus at the time of the crash. Then Hoover proceeded to run unprecedented peace-time budget deficits topping off around 50%. Hoovers deficit in 1933 was larger as a % of GDP then any of FDR's deficits. Yet the depression continued.
4) Yes, because politicians need the money to buy votes and prosecute endless wars. Can't do that on a gold standard... soooo obsolete.
@ChrisPacia Grow up and go get the balls to admit you have no clue as to what you are talking about! Who ever says "gold std" is clueless in modern economics! I am surprised you didn't mention Keynesian like a good little Schiff Sheep!! That's what the You Tube wanabe economist clowns teach you isn't it? Get your head out of Schiff's ass and learn something. Enjoy DOW 13,000!
yes, but in the US is the problem that no one wants to borrow or the banks don't want to lend? THAT'S THE ISSUE.
Zakdayak 1 day ago
@Zakdayak Private sector is deleveragin.
Minethis1 1 day ago
@Minethis1 I agree with your views on stimulus and austerity, but I think here in the States the difference is that the gov't has incentivized the banks into not lending. This has been reported in many places...the Fed actually pays the banks an interest rate to keep the money. based on my inquiries into the matter the Federal regulators actually compel some banks into reducing their loans and making it difficult to get one. These things reflect Geithner's fears more than anything ...
Zakdayak 1 day ago
@Zakdayak Complicated issue to say the least. On the one hand its good not to lend too much so the private sector can deleveraging. On the other if the economy is too sluggish they need to lend a bit more. You know the market is double riping now and thats good but not sustainable there is a lot of pent-up demand. ie. people put off buying big ticket items during the down turn. Furthermore EZ is collapsing under idiotic Schiff Rp Austerity thinking. Money is pouring into the US.
Minethis1 3 hours ago
@Minethis1 Although I should add that the banks probably wouldn't be lending anyway...
Zakdayak 1 day ago
Comment removed
ChrisPacia 2 weeks ago
@ChrisPacia You don't understand what he is talking about. Yet you draw conclusions and feel it necessary to display your ignorance. Sigh!
Minethis1 2 weeks ago
Educating Peter Schiff is impossible, he never listens to anyone.
707hoser 1 month ago
Richard C. Koo is of course right. He understands MMT and balance sheet rebalancing recession dynamics, is not a goldbug-idiot harking back to an era of deflationary depressions (yes, read your gold financial history) and is a pure pragmatist.
I wish we had more economists like him. People who know history and who are not tied to dogma.
nanomyou5 1 month ago
@nanomyou5 So you want hyperinflation hit your spending right then?
ltmikepowell 1 month ago
@ltmikepowell Maybe you should actually *study* hyper-inflation before you go off spouting nonsense. Also, you could study a bit of monetary history in Japan and try and find that hyper-inflation.
Try Bernholz as a good starting point as a rigorous study into hyperinflation.
Peter Schiff is a broken record who doesn't understand MMT, inflation mechanisms or aggregates.
It's sad he's being parroted around as an economist, when even my history teacher friend knows more.
nanomyou5 1 month ago
This guy eats dogs, how can you take any korean seriously.
justgetsome 1 month ago
@justgetsome
a racist cowardly taunt without an arguement cannot ever be taken seriously
gowidenow 1 month ago
@justgetsome He was born in Taiwan and lives in Japan.
707hoser 1 month ago
you didn't climb out of anything u moron! that's why we need sound money and morons like you who think you're smarter than everyone to get out of the way! ppl of japan are fleeced by idiots like you playing games with their money!
donotbecrappy 1 month ago
@donotbecrappy LOL! here are some facts about your "Sound money".
1. Gold is down 75% inflation adjusted since the 80's
2. The Great Depression occurred while on the Gold std
3. US Gov had a surplus in 1929 a lot of good that did! Lost 60% of GDP.
4. Gold based currency are obsolete World wide for a reason!
5. The Idea that the Amount of gold a country produces will somehow be better in identifying true economic productive output is a Joke! Gold is a FAILED ancient currency!
Minethis1 1 month ago 4
@Minethis1 pretty much what any person educated in basic economics would tell you. Winston Churchill had even said that the worst decision he ever made was to make his country revert to the gold standard after WW1. Austrian economics has unfortunately not been properly criticized and opposed by prominent people and news sources. This is probably because most people do not understand much about economics in the first place.
redarrowhead2 1 month ago
@Minethis1 Did you know fiat money which those Keynesian economists wanted is promoting INFLATION that could destroy the middle-class in the country?
Gold is money. A money will work very well when all paper money fail. Just look at Zimbabwe for one good example, they forced to trade goods with gold/silver.
Thomas Jefferson once said, paper is a ghost, any money that only valued by paper won't have any value.
ltmikepowell 1 month ago
@ltmikepowell You point to me in a time period in the last 5000 years that Gold and Silver were not Unearthed and supply was not constantly expanded! Especially in the Industrial revolution that Greatly expanded the supply. I am waiting for your response!
Minethis1 1 month ago
@Minethis1 Golds and silvers can't printed out of thin air. Therefore golds and silvers ARE the indicator of paper money's trust from the investors. And when those metals' prices rise, you'll know what it mean.
ltmikepowell 1 month ago
@Minethis1 And yes, what will you do when paper money failed and they only accept golds/silvers. Don't blame others in your dead if someone shoot you hard when you're looting and robbing.
ltmikepowell 1 month ago
@ltmikepowell What kind of nonsense are you talking about again?
Thomas Jefferson, Founding Fathers, Austrian Koo Koo economics, Zimbabwe, Gold, Silver, Ron Paul, Schiff, Alex Jones, Celente, BLAH BLAH BLAH! All a Bunch of fucken nonsense spouted by fucken Branch Davidian retarded sheep!
You will never get your collapse Poncho! Never! It's all Fantasy and Fairytale!
Minethis1 1 month ago
@Minethis1 Just wait when the U.S. national debts breached 20 trillions and if those creditor nations react for their debt loan that won't able to repay, expect the worst to happen.
By the way, how much Zimbabwe Dollar you have right now, starving billionaire?
ltmikepowell 1 month ago
@Minethis1 By the way, don't let those educated Americans found your name,
"billionaire".
Article One Section 10 of U.S. Constitution. Go and look at the detail before you lose even more self-respect.
ltmikepowell 1 month ago
@ltmikepowell Thats what they said at 500 mil 1T 2T 3T 4T 5T 6T 7T 8T 9T 10T 11T 12T 13T 14T 15T on and on. Listen I don't blame you for being a bearshitter! You know no better. You only listen to what you want to hear Doom and Gloom! If you were balanced and bothered to learn what reality is you would not listen to these clowns. But you don't bother to learn it's your fault for being ignorant. Not Schiffy. SO don't bother with my channel keep listening to what you want to hear.
Minethis1 1 month ago
@Minethis1 And is the world economy in good shape right now? I'll let your common sense speak.
And you better be glad that USD is a world reserve currency, for now. Unfortunately, trust and faith is important when comes to currency.
ltmikepowell 1 month ago
@Minethis1 Doom and gloom? I hear more doom and gloom, because our world is mostly ruled by psychopath, sociopath and resided willful ignorant dummies.
SPOILED BRAT.
ltmikepowell 1 month ago
@Minethis1 1.) Do your math again. Since 1980 gold is only down about 20% inflation adjusted. But you confidently picked the height of the gold bubble to start the calculation. If you picked 1982 as your starting year gold would be up roughly 80% inflation adjusted.
2) Not exactly. The collapse of the money supply following 1929 wasn't do to gold (unless there was a shipwreck I'm not aware of). It was do to a collapse in credit/policy blunder on the part of the Fed.
ChrisPacia 2 weeks ago
@ChrisPacia Why would I not pick the top in gold? Gold was priced for the extraordinary inflation no? According to you Bozo's we are hyper inflating! Inflation has run crazy! Has it not since 1980? 29 years and no inflation that can beat 80's high's inflation adjusted? But go to the super market aren't prices up? OH! I get it food is only 14.7% of total income. Okay makes sense. But Schiff said we are going to collapse by devaluing the $! Still 75% below 80s??
Face it you're WRONG!
Minethis1 2 weeks ago
@Minethis1 3) Ya there was a surplus at the time of the crash. Then Hoover proceeded to run unprecedented peace-time budget deficits topping off around 50%. Hoovers deficit in 1933 was larger as a % of GDP then any of FDR's deficits. Yet the depression continued.
4) Yes, because politicians need the money to buy votes and prosecute endless wars. Can't do that on a gold standard... soooo obsolete.
ChrisPacia 2 weeks ago
@ChrisPacia Grow up and go get the balls to admit you have no clue as to what you are talking about! Who ever says "gold std" is clueless in modern economics! I am surprised you didn't mention Keynesian like a good little Schiff Sheep!! That's what the You Tube wanabe economist clowns teach you isn't it? Get your head out of Schiff's ass and learn something. Enjoy DOW 13,000!
Minethis1 2 weeks ago
@Minethis1 I will be sure to revisit your "Enjoy DOW 13,000!" quote several years from now. It will make for a good laugh.
ChrisPacia 1 week ago
@ChrisPacia Please do. But you won't have the balls to admit you're wrong. Get your head out of Schiff's ass and go learn something.
Minethis1 1 week ago