Dennis Prager & Thomas Sowell on "Economic Facts & Fallacies" (1 of 4)

[comptonproduction]

Now he's blaming both republicans and democratics. the blame game for a black conservative. stop interfering in the markets. this guy is a idiot.

[ShishirYerramilli]

Was that someone snoring at 1:06-1:10??!!

[matlynch123]

"The best thing the government can do in a recession is do nothing" Wow. What cured the Great Depression? A massive government programme of spending called World War 2.

[tomthefunky]

@matlynch123: Oh, how silly you are. We had massive government spending programs for ten years prior to WW2 and the economy got worse and worse.

[matlynch123]

@tomthefunky The spending in WW2 was far greater than the expansion of the money supply in the 20s, so according to your reasoning there should have been a massive Great Depression 2 after the WW2 spending, but there was not. So your argument is weak.

[tomthefunky]

@matlynch123: The New Deal prolonged the depression. And the massive appropriations of money to the war effort didn't bring prosperity to American's. Prosperity came after the war when government intervention in the economy subsided.

[matlynch123]

@tomthefunky The reason the US profited was because europe's(the main competition) productive capacity was severely damaged from the war. Europe had a massive demand and no suppliers - america had undamaged oversupply that could be reappropriated to europe. So without the war that golden age would have never occurred.

[tomthefunky]

@matlynch123: You are right, but you are wrong when you say it was "THE reason" America prospered after the war. It's ONE of the reasons America prospered.

It's the leftist Keynesian principles in which YOU advocate that would have denied America a golden age.

[matlynch123]

@tomthefunky So give me some other reasons. The point is that governments are the only entity that can stimulate growth in a recession because recessions are crises of CONFIDENCE. No one wants to take those first steps towards recovery and lose out so the government must. Or the recession stagnates.

I want to add a non-economic point: Regardless of their work ethic; people suffer in depressions. There is a moral duty to forgo wealth in the future for wealth now to ease that suffering.

[tomthefunky]

@matlynch123: Why ask me? Read Thomas Sowell. He's been swatting arguments like yours away like flies for over half a century.

"America had a stock market crash in 1987. What did President Reagan do?.... nothing..... We then had a twenty year economic boom"- Thomas Sowell

[matlynch123]

@tomthefunky Maybe you should read wider than one author. Then you may be able to engage with my arguments. Read a standard economics textbook, you will understand how the great depression was cured. Reagan was a radical who increased government expenditure massively. Raising the national debt from $997 billion to $2.85 trillion. This led to the U.S. moving from the world's largest international creditor to the world's largest debtor nation. We then had a twenty year boom...

[tomthefunky]

@matlynch123 Every budget Reagan submitted to congress outlined spending reductions totaling several hundred billion dollars. But it was the democrat controlled congress which blocked it and enabled government to spend at the rate it did. Even still, Reagan presided over the greatest expansion of wealth in American history. He cut taxes, lowered inflation, and unemployment plummeted. He always regretted he couldn't balace the budget but he was demonized for the cuts he wanted to make.

[matlynch123]

@tomthefunky But you cannot say the boom in the 80s was due to less government spending because THERE WAS MORE GOVERNMENT SPENDING. Reagan's intentions are irrelevant. If he intended to balance the budget why did he massively increase military spending?

P.S. Tax cuts are government stimulus. I never said tax cuts during recessions were bad - they are good - Thomas Sowell is the one who said governments should do nothing.

[tomthefunky]

@matlynch123 Reagan cut top tax rates which set off the economic boom, causing huge inflows of tax revenue to the treasury. While his military spending did cause the debt to spike, it was the democrats massive social spending that really caused the national debt to rise. Also, he promised he would increase military spending in his campaign for president. A strong, well-funded military is a core Republican belief. It's also authorized in the Constitution.

[fatalyhip]

@matlynch123 Complete bullshit!

[fatalyhip]

@matlynch123 Complete bullshit! That is the precise reason we are in the shape we are in. It's very logical and I can't believe that most people like yourself just don't get the big picture. The government cant solve anything!

[xHippieHunter]

@matlynch123 You are a fool look up the unemployment rate after WW2 started it still was above 8% only after WW2 was the economy growing again and unemploy. went down. Why? Because Taxes was lowered and regulations and war time policies were stopped. I have 2 dep. for you, the dep. of 1921 and the depression of 1946. The dep. of 1921 had worse unemployment level than the 1930's and was fixed in a year by gov backing off. And the 1946 dep. never happened. But Keynesists were 100% on how it would

[migkillertwo]

This explanation of the recovery after WWII is, frankly, ridiculous. The reason that the economy recovered so impressively after WWII was because there was an enormous amount of cash savings built up during the war that workers were eager to spend. This caused inflation, which stimulated massive investment, which caused enormous output. Don't believe me? Look at inflation rates during and after the war. Inflation actually went down during WWII but skyrocketed to 14% by 1948. 

[pretorious700]

@migkillertwo lol, cash savings? during the war? are you serious? Most people could barely get by with rationing and government controlled wages. How do i know? My parents lived through the war and I actually have some real knowledge of what went on. Citing inflation rates as proof just shows your schoolbook ignorance.

[migkillertwo]

"Most people could barely get by with rationing and government controlled wages."

It may surprise you, but we actually have statistics for the national savings rate during the war, and it peaked at over 25%, the highest its ever been. Consumer spending skyrocketed after the war ended after rationing ended and resources were diverted away from the military.

[Porojukaha]

Youre wrong Prager, There was one man with more economic clarity than Sowell. Thats the man who taught Sowell everything he knows. He died in 2006. RIP Milton Friedman.

[ProtoSteward]

Sowell is great. 

[jrooksable]

a video showing 2 heavyweight conservative thinkers and what do we get? Infantile name calling from 2 shining lights named SeeProfilerForDetails and nakedBison69 what a waste

[TimothyDonaghue]

Why is Dennis so "surprised" to hear a free marketeer like Thomas Sowell suggest the government stay the hell out of the economy?

That is ABSOLUTE BASIC economics.

[nakedBison69]

Dennis Prager used to be a liberal. In fact, he voted for Dhimmi Carter! It is only in the last fifteen years or so, that he switched to the Republican Party.

[KenMacMillan]

I wish Sowell would debate Chomsky.

[AntonBatey]

@KenMacMillan

Chomsky would destroy Sowell if they debated U.S. foreign policy, but Sowell would beat Chomsky if they debated domestic economic policy.

[nakedBison69]

Thomas Sowell would beat both Chomsky and antonBatey, even with half of Thomas Sowell's brains tied behind his back

[xHippieHunter]

@AntonBatey bhahahahahahahha not even close Sowell would rip apart anything that moron says you are a fool.

[hyzhenhok]

"That requires looking forward in time and having a basic understanding of economics, and neither of those are common in California"

ROFL

[AntonBatey]

I love Thomas Sowell. But Dennis Prager, not a fan.

[nakedBison69]

Dennis Prager is no fan of antonBatey

[AntonBatey]

@nakedBison69

So what?

[nakedBison69]

antonBatey is a total waste of DNA

[Sam26100]

I love Sowell, but Dennis Prager is a fucking imbecile

[nakedBison69]

sam26100 is a fucking imbecile

[chukmaty]

@Sam26100

You just do not get Prager's humor, you are a oversensitive.

[Iambecome]

Terrible glasses ;)

[ClumsyRoot]

In all seriousness, this is fascinating.

[ClumsyRoot]

Sheesh, what a sycophant. If Sowell had been there in person, Prager would have knelt down and blew him.

[nakedBison69]

if Adolf Obama had been there in person, clumsyRoot would have knelt down and blew him

[ClumsyRoot]

Huh? I'm a limited-government, pro-life, pro-Second Amendment libertarian. Not a huge Obama fan.

[nakedBison69]

then you have no reason to attack either Dennis Prager or Thomas Sowell

[TheAberens]

I like both of them. But when a host fawns all over his guests, it defeats the purpose.

[nakedBison69]

can i be really open and honest here? i strongly suspect that Dennis does that because Thomas Sowell is Black. If Thomas Sowell were White and said the exact same things, Dennis would mildly like him, but certainly not fawn all over him like he does

[senjahcore]

@nakedBison69 maybe true. not sowell's fault. this is my problem as a black academic: any time i do anything, somebody interprets either it or the reaction to it through a racial lens and then extrapolates that my success/failure in said endeavor is some-way racially connected... oy ve. not my fault

[nakedBison69]

senjahcore, so sorry you have to go through that. I saw this youTube clip of actor Morgan Freeman, where he said that the way to stop all the racism going around, is simply to stop talking about it already. i agree with him. in fact, it is ironic that he would say that, because i actually think of him as simply a fine actor whose skin color is basically irrelevant

[senjahcore]

@nakedBison69 I was vegetating to a sports talk show the other day, hearing these 2 commentators discuss the Miami Heat now w/ LeBron, etc. Apparently, LeBron recruited a talented (white) player named Mike Miller to the team. The commentators derided Miller as a "white guy who does nothing but shoot."

In fact, Miller is a wellrounded player

Basic economics: NBA cares about performance, not diversity. Yet the 2 commentators found it necessary to deride the player

[nakedBison69]

that is because they are anti-White racists

[nakedBison69]

just to continue where I left off, I guess I think that Thomas Sowell's skin color is relevant, both because his libertarian/conservative views are so rare among Blacks, plus he himself used to be a Marxist. I even heard that he used to be a Black Panther, but I frankly find that very hard to believe. In any case, Thomas Sowell is THE cure for our country's economic ills. If Obama would only take his advice, our country would now be prospering

[senjahcore]

@nakedBison69 Agreed. Although I would note that in my experience Sowell's libertarian/conservative economic views are not necessarily unpopular in various circles where they might seem to be. Rather, hardworking people of every stripe seem to agree personally with these views, but will not support them politically for a range of ideological, historical, even relational and religious reasons irrelevant to basic economics and not things they would practice personally for obvious reasons.

[nakedBison69]

I have heard that Blacks are often very conservative in their personal values, yet vote overwhelmingly Democrat. same with my Jewish people. I think that the socialists have pulled the wool over the eyes of both of our particular groups of people

[senjahcore]

@nakedBison69 Sorry about the delay. Agreed: "wool over the eyes."Additionally, there are emotional wells of resentment against the wealthy that most minority groups harbor. An enforced ideology amongst ethnic sub-sets that instantiates an internal policing procedure. Don't vote that way, etc.

As a humanist, I have sympathy w/ this individual vs. society conflict and the difficulty that most ppl have w/ actually becoming what the literary critic Harold Bloom termed a "free agent of the self"

[senjahcore]

@nakedBison69 In other words, I don't see all a lot of things that are popularly understood as "political" conflicts to be essentially political at all. They are at once more internal and more universal than the time-bound partisan debates of our few days.

The individual, whether it is Stendahl's Juliann Sorel or Ellison's Invisible Man, must define himself out from his given social world. This personal determination, or lack thereof, is at the root of economic and political decisions

[nakedBison69]

can you be more specific? you sound more well-read than I am, so can you explain what you mean in simpler and more concrete terms?

[senjahcore]

@nakedBison69 What we call conservatism, as I understand it, arises from Hobbes and from the democratic theorists of the Enlightenment (Locke, Burke, etc.). Hobbes' tragic vision of life (that it is nasty, brutish & short) is combined w/ the liberal belief in the right of man to life, property, etc. Note that I use words like "democratic" & "liberal" not in their political sense but rather in a broader sense. This allying of the realistic tragic vision w/ the will to freeom is conservatism

[senjahcore]

@nakedBison69 B/c tragedy & free will, as concepts, derive from the basis of Western thought (the Greeks & the Bible), I don't count them as essentially political. Therefore, Conservatism I see as inhering in Western culture moreso than political Liberalism.

Life is short. Men must be free. I see these as universal truths. Whole systems of rights & economies are based thereon.

Often, they find voice in high literature not b/c of a politica agenda but simply b/c they inhere in life itself.

[hyetalian1]

@nakedBison69 You are SPOT ON. Most people if you listen to them talk are very conservative (economically) and do not even know.

[nakedBison69]

some study or another recently found out that Dummycrats are far far more ignorant about the basic laws of economics than are Republicans. i strongly suspect that the more a given individual learns about how free market capitalism works, the more that person is likely to reject islamoMarxists like Obama in favor of Republicans

[SeeProfileForDetails]

@nakedBison69 Islam and Christianity have a lot in common - dont' like infidels, don't like gays, they should join up together as islamochristians. Christianity and communism have a lot in common.. all people created equal, grand plan (central government or central god).

[nakedBison69]

seeProfileForDetails and islamofascism have a lot in common: hates those who dare to disagree with them, loves the gay homos, and is unequal to civilized human beings

[SeeProfileForDetails]

@nakedBison69 islamofascists do not love gays. they hang them. I don't love gays, I simply respect them as other human beings and they shouldn't be hanged.

[nakedBison69]

seeProfileForDetails loves the gays

[SeeProfileForDetails]

nakedBison69 worships a nude man in a diaper on the cross

[nakedBison69]

seeProfileForDetails has gay sex with hussein obama

[SeeProfileForDetails]

@nakedBison69 would never vote obama or republican, both are morons

[nakedBison69]

that does not even make any sense, how can you be opposed to both Obama and Republicans?

[SeeProfileForDetails]

@nakedBison69 Libertarians that are non religious don't fit into typical republican politics, but I do sympathize with some of what the republicans stand for, and their stance on fucktarded Islam. Problem with libertarians is they are against war, so I 'm not even a libertarian, i'm kind of non political because no party fits me.

[nakedBison69]

wow, your views sound a whole lot like mine, now i feel bad for insulting you.

[SeeProfileForDetails]

@nakedBison69 well we may disagree on christianity then? I just think Islam and Christianity have a lot in common, they both don't like non religious people, they both don't like gays, so why are christians so against islam if it's the same religion under different emporers clothes?

[nakedBison69]

seeProfileForDetails hates Christians and loves the gay homos, so why is seeProfileForDetails so enamored with islamofascism wearing emporer's clothes?

[SeeProfileForDetails]

@nakedBison69 i don't hate christians, I respect christian values... I just think morals come from humans and not from the bible, similar to how i do not think the koran in Islam has morals in it, muslim humans have morals in themselves. let me ask you a question, are muslims actually gods children too, from jesus? are christians atheists when it comes to not beleiving in Islam? are christians atheists toward jewish religion? christians are atheists toward other reliigons... hint hint..

[nakedBison69]

islam is nothing but a cult of intolerance, hatred, violence, murder, death, and destruction. christianity worships the Dead Jew on a Stick. more people have been murdered in the name of marxism/socialism/darwinism than for any other ideology...hint hint

[SeeProfileForDetails]

@nakedBison69 christians eat animals using darwin technology on farms too. What in the hell does darwin have to do with communism and socialism? capitalism is darwinism, the businesses that survive do so because they succeeded in the harsh world

[nakedBison69]

huh?

[SeeProfileForDetails]

@nakedBison69 p.s. milton friedman, walter block, devout atheist libertarians. We are not against christians, we're on their side.

[nakedBison69]

huh? do you hate Christians or like Christians?

Milton Friedman and Walter Block are Jewish, as are Murray Rothbard, Ayn Rand, Leonard Piekoff, Ben Stein, etc

[SeeProfileForDetails]

@nakedBison69 i do not hate christians, but I dislike their conspiracy theories. Walter Block and Friedman are not practicing jews, dennis prager is a practicing jew. Saying that they are jewish would be like saying that an atheist who was previously a catholic, is a catholic. it's not true.

[nakedBison69]

no, it is not the same thing, because being Christian is a matter of belief, while one is born into one's Jewishness. If one is borne of a Jewish mother, one is Jewish forever, regardless of their beliefs or behavior. They may not be a good Jew if they do not live as a Jew, but that is an entirely different matter

[SeeProfileForDetails]

@nakedBison69 jew is not a race, it's a dogma. I was born into a catholic baptised family, I am no longer catholic. Jewish people who do not practice jewish dogma are doing the world a great disservice by promoting jewish dogma by continually calling themselves jewish.

[nakedBison69]

no, the Jews are a spiritual nation. people are born into it.  Jews who do not practice Judaism may not be good Jews, but they are Jews nevertheless

[SeeProfileForDetails]

@nakedBison69 saying that people are born into a spiritual nation is a very very dangerous thing to say. You are saying something similar to what nazis and muslim dogma preaches.

[nakedBison69]

no, I am saying what Judaism teaches. the fact that the nazis and islamofascists have taken such an idea, turning it completely upside down, and using it as an excuse to murder people, does not invalidate the Jewish claim. what it does do is show how barbaric the gentiles are

[SeeProfileForDetails]

@nakedBison69 Barbaric is someone like you who comes on youtube showing hatred for gays just like the nazis did. You say things like I love gays because you are insecure about your sexuality and you are a closet gay, so you push your hatred on to a straight person like me. Jews mate with gentiles, jews are mixed. Insulting gentiles just shows your ignorance because when you insult white men, you are also insulting Jews, since they have white blood in them too. You are a fool like Ben Stein.

[nakedBison69]

seeProfileForDetails the barbarian loves the gay homos and hates normal men, just like the nazid did. seeProfileForDetails is insecure about her lesbianism while pretending to be proud of it. seeProfileForDetails pushes her hatred on any man who dares to not be a gay homo like she is. seeProfileForDetails mates with an assortment of animals. seeProfileForDetails insults Jews, thus showing her ignorance. seeProfileForDetails is a fool just like her idol Michael Moore

[SeeProfileForDetails]

@nakedBison69 nazis didn't hate normal men, nazis sent gays and ugly looking jews to the gas chambers because they were not normal. If you knew anything about history, you'd know that your messages on youtube here are nazi-like and encouraging hatred. I am not a woman, my profile picture is to confuse idiots like you who believe anything you are presented with. I'm a straight man who thinks gays need not get married since marriage is a farce anyway, but I'm not going to invade their privacy

[nakedBison69]

seeProfileForDetails hates normal men, preferring the ugly gay homos like herself to the gas chamber. seeprofilefordetails the nazi encourages hatred against America and Israel. seeProfileForDetails the idiot is a gay man who loves the gays, and is a farce, invading the privacy of normal men

[SeeProfileForDetails]

nakedBison69 is boring

[nakedBison69]

seeProfileForDetails likes to pretend he is a woman, just like the gay homosexual faggot that he is. seeProfileForDetails is boring

[SeeProfileForDetails]

nakedBison69  would enjoy being placed in a gas chamber for accusing a neo nazi of being gay

[nakedBison69]

seeProfileForDetails the shitler-loving antisemite spends all of his time and energy fantasizing about gassing Jews to death because, as a gay nazi, seeProfileForDetails cannot stand it that Jews not only continue to live, but to thrive as well

[SeeProfileForDetails]

nakedBison69 is a gentile hating hypocrite who has jewish friends that have white gentile blood in them

[SeeProfileForDetails]

nakedBison69 thinks naked bisons should be banged harder than his bulls and kangaroos that he diddles with in his back yard

[nakedBison69]

seeProfileForDetails bangs his empty gay head against bulls and kangaroos that he diddles with in his back yard

[SeeProfileForDetails]

nakedBison69 has a profile picture of the animal he molested recently and is a furry fag

[nakedBison69]

seeProfileForDetails the gay homosexual faggot spends every waking moment molesting unsuspecting little boys

[SeeProfileForDetails]

nakedBison69 fantasizes about little boys and other people doing things to them

[SeeProfileForDetails]

@nakedBison69 p.s. dennis prager is not a christian , he is a conservative Jew

[mick03112]

@TheAberens How so? He still asks questions that get him going and we all learn from it. Not sure how admiration ruins an interview.

[jakefree25]

@nakedBison69 That was an exceeding stupid and ugly comment, you must have worked hard on that one

[nakedBison69]

jakefree25 works hard at making exceedingly stupid and ugly comments

[TylerNull]

Thanks for the Sowell interview.

I'd heard about the businesses leaving CA, but didn't know about the indigenous residents leaving too.

Silence is the socialist's most valuable tool, not their endless lies, hoaxes, slander, obfuscations and such. It's their ability to infest media and silence the truth that's most effective.

"Media Donations Favor DEMs 100-1"

-- Investors Business Daily, 23 July 2008

[herbs814]

Businesses and affluent residents are leaving California in vast numbers because of the greed of the state government. It has been said that California's biggest export... is its own millionaires. But the left continues to claim that they can plunder the successful with impunity.