The more the government spends, the more it has to tax, inflate or borrow. The more it taxes or inflates the more money is taken away from people who would have spent it on other (useful to themselves) things. People always complain the government spends money on mostly wasteful things, and yet they are often for more government spending.
If you had any other group or individual who spent their money on wasteful means, would you be inclined to give them more money?
real austerity always makes market conditions better because there's more real money later.
fake austerity is where governments first hand over money to their buddies that they've stolen from tax-payers and then cut services they promised to provide as the original justification for having the power to tax at all.
So fake austerity is just theft.
Real austerity is just good financial sense.
The worst part is, half the money's been handed out (stolen) already. More's coming and we now KNOW.
Stimulus does not work because the stimulus is not used to stimulate the economy. It is used to transfer of wealth from the bottom to the top. It is nothing more than Socialism, and we all have seen how well Socialism turned out for Russia. The elite believe we should only have 2 classes of people, the rich (themselves) and the poor. I say we should only have 1 class of people, the Equal class. We should get rid of the elite and poor classes and make everyone join the equal class.
I totally agree when you said that, "we should only have 1 class of people, the Equal Class." When we realize that all individuals, all citizens, share a common interest, that is: To live, and to contribute, to help and support each other so that we continue to thrive. Then, we realize that we can't have 1 group (the rich) feeding on the other (the poor); because the universal law of equation will revoke this pattern and have the poor feeding on the rich to balance out...
#2 post of the first: ...and there will be no end to these conflicts. Well, back to my point, the "Equal Class" that you suggested has been embraced by the People's Republic of China for the past 60 years, and that is, Communism, where all citizens work on contributing for the common good of all individuals. I hope that more people can see that the term "Communism", is NOT an evil word as portrayed by some who wishes to keep feeding on the others.
...dictionaries do not include the definition of "equality" for the word "communism". Don't take my word for it, check out the dictionaries outside our little 'world' :(
LOL The only difference in between Capitalism, Socialism and/or Communism are operational differences. They all three do the same basic function, transfer wealth from the bottom to the top. Governments, no matter what they call themselves are tools to transfer wealth, control people and secure privilege for the Elite.
This man who is a professor of what, he has very little knowlrdge of economics, but then again Paul speaks like a socialist continuously on all of his economic shows. He to my knowledge he has never had an Ausrtian economic viewpoint on any show and for lack of better words it pisses me off.
Actually it was Keynesian economics that got us into the whole artificial booms and busts mess. If the US would have followed Austrian economics they're would have been no artificial booms and busts. The US government is filled with Keynesian snake oil salesmen.
@xxashyy If by Keynesian economics you mean government involvement, what you said isn't so: big business pushed for the removal of the Glass/Steagall, with the Republicans in congress and then president Clinton going along with the idea. Glass/Steagall is what prevented commercial banks and investment banks from doing business. If that piece of regulation had remained in place, we wouldn't be in this mess.
Although you are correct about Glass/Steagall you cannot say we would not be in the current situation because the elite will always find a way to cheat. No matter if it is high tech stocks, adjustable mortgages, derivatives or whatever Ponzi schema is next, the elite will always find a way to steal everything in sight. It is the law of the jungle, a curse of evolution if you will. It is in their DNA to be lying, cheating, scumbag, thieves.
Your statement reflects how shallow your philosophy and understanding of the world really is.
.
To answer your question: No, I am saying it is in your DNA to be a cock sucking troll. Now go away before I taunt you some more you silly little worm of a man.
well, since your father is a gay gimp and your mother is a diseased whore and they commit bestial sex with all types of creatures, we really can't pin down your DNA, except that its ugly and it stinks.
@mymojorisin I don't think that it's in our DNA; next time you're at the super market, check out the cereal isle. You'll notice that the sugary garbage cereals are on the bottom two shelves - the eye level of children. Our society sends a message to us from birth to shop you drop, and that individual gain is the ultimate goal. I drives away what I believe is our true nature: deep commitments to care for one another, as evident by 9-11 rescue workers.
I did not say it was in our DNA, I said it was in the DNA of the Elite to be that way. I have no evidence but I would be willing to bet that if the genetic marker for that behavior was found it would be heavily predominate amongst the Elite. Now like everything, there are lying cheating thieves in all class of society but if you compare that behavior side by side with the class you will see an increase in the Elite class percentages.
central banking war/welfare model is the problem. everything is broken and things are going to fall apart. buy gold and silver, hold on for dear life and wait for things to collapse. at that point we will build the foundation for the next massive step forward. until then, its all noise. got gold?
The day we can pay people to help others on the same level that we destroy, is the day my confidence will be restored in the system. Productivity as a system is self defeating. The system needs to be productive but the basis should be conservation and real progression towards responsible human development and coexistence. In the name of productivity, we have become inefficient, unsustainable and paradoxically, unproductive.
Pollin's argument makes no sense. Where does the money to stimulate the economy come from? It is printed. Therefore, it steals wealth from the country's existing capital. When the government gives money to certain sectors that are failing in the economy, it does so at the expense of the efficient and productive sectors of the economy. Bottom line: the government cannot create wealth, only productive private businesses can.
Regulations protecting regular saver's pensions & savings not replaced.
In the UK, all big bank CEOs are from finance.
Corp & bank lobby buy Govt agendas, regs. to stop gambling with other's life savings; gone, as in USA nobody wins, it just goes to bonuses. Bank fine scams are their #1 'innovation' & biggest earner.
Like theology, 're-branding' dressed up to sound complex, pomposity & fancy suits. AKA con men.
@james9689 big difference between investment and gambling. Most people think of stocks and bonds when they hear the word investment, when in reality it's just speculation and promises. Real investment is found in land and infrastructure, along with the tools(access to material and knowledge) to create something worthwhile.
@hobatu "..If a business has large cash savings, it's a poorly managed business..." So, it seems like you are suggesting that this business should be punished by a gov by stealing it's money? If, in my opinion, you are managing your life badly, should I punish you by stealing some of your money? Or, is it just gov who should steal money from you?
Should you, or a businessman, be allowed to mismanage their lives/business, or should they be punished, by having some of their money taken from them?
Funny how progressives and liberals claim to be all about starting a discussion and freedom of speech, but in the places they congregate, censorship and general attempts to silence opposition run rampant. Its shameful how often comments are deleted or marked as spam.
Stop pretending you're for free speech-you are not.
@hobatu "..it makes sense for the government to spend their savings..." So, you reckon it is a good idea for someone else to spend your savings, and the savings of other people too?
@hobatu "..Usually that's done by printing money, and it's not taking it away from private businesses.." If printing money devalues private savings, how doesn't it devalue business savings, or devalue the purchasing power of a business - you know, when a business wants to buy raw materials or new machinery etc?
4.27 "..when gov spends money......that's not taking away from private business..." So where does this money come from, that the gov spends? ............If the professor can't solve this little conundrum, then most of the rest of his ideas, based on this are bollox.
We are past the point of no return, The dollar is done. Government spending is out of control and they are just going to monitize it. This guy is a nifty Keynesian. Hold on more Nationalism, Protectionism, and Price Fixing to come from these guys.
Economic terrorists from Wall Street are damaging business confidence. When the people responsible for the collapse are given a lifetime prison sentence you'll see businesses gaining confidence in the false economy again. When you nationalize the Federal Reserve you'll see everyone gain confidence in a real economy.
The more the government spends, the more it has to tax, inflate or borrow. The more it taxes or inflates the more money is taken away from people who would have spent it on other (useful to themselves) things. People always complain the government spends money on mostly wasteful things, and yet they are often for more government spending.
If you had any other group or individual who spent their money on wasteful means, would you be inclined to give them more money?
sirellyn 1 year ago
real austerity always makes market conditions better because there's more real money later.
fake austerity is where governments first hand over money to their buddies that they've stolen from tax-payers and then cut services they promised to provide as the original justification for having the power to tax at all.
So fake austerity is just theft.
Real austerity is just good financial sense.
The worst part is, half the money's been handed out (stolen) already. More's coming and we now KNOW.
ytgv3fc7 1 year ago
As long as the Fed Reserve can print money at will, we will still have problems.
saadasim 1 year ago
Stimulus does not work because the stimulus is not used to stimulate the economy. It is used to transfer of wealth from the bottom to the top. It is nothing more than Socialism, and we all have seen how well Socialism turned out for Russia. The elite believe we should only have 2 classes of people, the rich (themselves) and the poor. I say we should only have 1 class of people, the Equal class. We should get rid of the elite and poor classes and make everyone join the equal class.
mymojorisin 1 year ago
@mymojorisin
I totally agree when you said that, "we should only have 1 class of people, the Equal Class." When we realize that all individuals, all citizens, share a common interest, that is: To live, and to contribute, to help and support each other so that we continue to thrive. Then, we realize that we can't have 1 group (the rich) feeding on the other (the poor); because the universal law of equation will revoke this pattern and have the poor feeding on the rich to balance out...
longdoydoy 1 year ago
@mymojorisin
#2 post of the first: ...and there will be no end to these conflicts. Well, back to my point, the "Equal Class" that you suggested has been embraced by the People's Republic of China for the past 60 years, and that is, Communism, where all citizens work on contributing for the common good of all individuals. I hope that more people can see that the term "Communism", is NOT an evil word as portrayed by some who wishes to keep feeding on the others.
By the way, our...
longdoydoy 1 year ago
@mymojorisin
#3
...dictionaries do not include the definition of "equality" for the word "communism". Don't take my word for it, check out the dictionaries outside our little 'world' :(
Peace out.
longdoydoy 1 year ago
@longdoydoy
LOL The only difference in between Capitalism, Socialism and/or Communism are operational differences. They all three do the same basic function, transfer wealth from the bottom to the top. Governments, no matter what they call themselves are tools to transfer wealth, control people and secure privilege for the Elite.
mymojorisin 1 year ago
Pollin is a tool and clueless at that.
largo2001 1 year ago
This man who is a professor of what, he has very little knowlrdge of economics, but then again Paul speaks like a socialist continuously on all of his economic shows. He to my knowledge he has never had an Ausrtian economic viewpoint on any show and for lack of better words it pisses me off.
mikeoli 1 year ago
@mikeoli That's because Austrian economics suck balls.
imover18gotityube 1 year ago
Actually it was Keynesian economics that got us into the whole artificial booms and busts mess. If the US would have followed Austrian economics they're would have been no artificial booms and busts. The US government is filled with Keynesian snake oil salesmen.
xxashyy 1 year ago
@xxashyy If by Keynesian economics you mean government involvement, what you said isn't so: big business pushed for the removal of the Glass/Steagall, with the Republicans in congress and then president Clinton going along with the idea. Glass/Steagall is what prevented commercial banks and investment banks from doing business. If that piece of regulation had remained in place, we wouldn't be in this mess.
bluenote71 1 year ago
@bluenote71
Although you are correct about Glass/Steagall you cannot say we would not be in the current situation because the elite will always find a way to cheat. No matter if it is high tech stocks, adjustable mortgages, derivatives or whatever Ponzi schema is next, the elite will always find a way to steal everything in sight. It is the law of the jungle, a curse of evolution if you will. It is in their DNA to be lying, cheating, scumbag, thieves.
mymojorisin 1 year ago
@mymojorisin
so its in your DNA to be a moaning peasant?
TheRedCapitalist 1 year ago
@TheRedCapitalist
Your statement reflects how shallow your philosophy and understanding of the world really is.
.
To answer your question: No, I am saying it is in your DNA to be a cock sucking troll. Now go away before I taunt you some more you silly little worm of a man.
mymojorisin 1 year ago
@mymojorisin
well, since your father is a gay gimp and your mother is a diseased whore and they commit bestial sex with all types of creatures, we really can't pin down your DNA, except that its ugly and it stinks.
TheRedCapitalist 1 year ago
@mymojorisin I don't think that it's in our DNA; next time you're at the super market, check out the cereal isle. You'll notice that the sugary garbage cereals are on the bottom two shelves - the eye level of children. Our society sends a message to us from birth to shop you drop, and that individual gain is the ultimate goal. I drives away what I believe is our true nature: deep commitments to care for one another, as evident by 9-11 rescue workers.
bluenote71 1 year ago
@bluenote71
I did not say it was in our DNA, I said it was in the DNA of the Elite to be that way. I have no evidence but I would be willing to bet that if the genetic marker for that behavior was found it would be heavily predominate amongst the Elite. Now like everything, there are lying cheating thieves in all class of society but if you compare that behavior side by side with the class you will see an increase in the Elite class percentages.
mymojorisin 1 year ago
Keynesian polices = fantasy
Austrian polices = rooted in reality
xxashyy 1 year ago
@mikeoli Peter Schiff was on Real News in a multi-part segment. Go to their web page.
bluenote71 1 year ago
central banking war/welfare model is the problem. everything is broken and things are going to fall apart. buy gold and silver, hold on for dear life and wait for things to collapse. at that point we will build the foundation for the next massive step forward. until then, its all noise. got gold?
cankorgbr 1 year ago
This needs its own channel on TV, that everyone can access
thesparitan 1 year ago
The day we can pay people to help others on the same level that we destroy, is the day my confidence will be restored in the system. Productivity as a system is self defeating. The system needs to be productive but the basis should be conservation and real progression towards responsible human development and coexistence. In the name of productivity, we have become inefficient, unsustainable and paradoxically, unproductive.
chocomalk 1 year ago 2
Pollin's argument makes no sense. Where does the money to stimulate the economy come from? It is printed. Therefore, it steals wealth from the country's existing capital. When the government gives money to certain sectors that are failing in the economy, it does so at the expense of the efficient and productive sectors of the economy. Bottom line: the government cannot create wealth, only productive private businesses can.
intelligentdiscourse 1 year ago
@hobatu I think I understand now. Thanks for that.
zalida100 1 year ago
@hobatu I don't understand why you think people should be punished/robbed as a matter of course.
"...punishment in the name of the common good or fairness...." Don't you see anything wrong with this sentence?
It's kinda sounding like you equate "punishment" with "goodness." If that's the case, then we'd have to start redefining a vocabulary.
zalida100 1 year ago
The government needs to spend money! Where do they get it?
Taxes – which is a form of slavery. Borrowing from the Federal Reserve – to pay back to the private corporation with interest.
Maybe there is a lack of confidence from business because there is a lack of confidence in government.
iknownothingnow 1 year ago
Bob Pollin is another clueless liberal who doesn't understand that DEBT-MONEY is one of the main causes of the crisis.
PersianPaladin 1 year ago
thumps down.. keynesians
evergreensing 1 year ago
Smart people will no longer invest in virtual, non physical and not backed investments ever again after this mess.
james9689 1 year ago
@james9689
Regulations protecting regular saver's pensions & savings not replaced.
In the UK, all big bank CEOs are from finance.
Corp & bank lobby buy Govt agendas, regs. to stop gambling with other's life savings; gone, as in USA nobody wins, it just goes to bonuses. Bank fine scams are their #1 'innovation' & biggest earner.
Like theology, 're-branding' dressed up to sound complex, pomposity & fancy suits. AKA con men.
Capitalism = con-men rule.
Tax 'em down to Earth orbit, at least..
marsCubed 1 year ago
@james9689 big difference between investment and gambling. Most people think of stocks and bonds when they hear the word investment, when in reality it's just speculation and promises. Real investment is found in land and infrastructure, along with the tools(access to material and knowledge) to create something worthwhile.
JizzonTheDark 1 year ago
@hobatu "..If a business has large cash savings, it's a poorly managed business..." So, it seems like you are suggesting that this business should be punished by a gov by stealing it's money? If, in my opinion, you are managing your life badly, should I punish you by stealing some of your money? Or, is it just gov who should steal money from you?
Should you, or a businessman, be allowed to mismanage their lives/business, or should they be punished, by having some of their money taken from them?
zalida100 1 year ago
6:40
Yes, but without "jobs", so Mr Pollin almost said something that should be said.
Amount_of_jobs * Number_of_meaningful_jobs = 1 / Technological_level
(I might be lacking proper English terms, sorry for that)
and guess what.. Our technological level is rising and even being suppressed.
Jobs jobs.. moo moooooo keep the crowd busy lol
I have nothing against Mr Pollin, he seems as a good guy, but he chose to go public and repeat things we already heard from our owners.
MarkoKraguljac 1 year ago
Funny how progressives and liberals claim to be all about starting a discussion and freedom of speech, but in the places they congregate, censorship and general attempts to silence opposition run rampant. Its shameful how often comments are deleted or marked as spam.
Stop pretending you're for free speech-you are not.
tarossi400 1 year ago
@tarossi400 Yeah, well...looks like THIS comment hasn't gone anywhere.
psychoholicmike 1 year ago
the real news needs to stop interviewing this keynsian retard and start interviewing some real economists.
wtfbroskie 1 year ago
This has been flagged as spam show
@hobatu "..it makes sense for the government to spend their savings..." So, you reckon it is a good idea for someone else to spend your savings, and the savings of other people too?
zalida100 1 year ago
@hobatu "..Usually that's done by printing money, and it's not taking it away from private businesses.." If printing money devalues private savings, how doesn't it devalue business savings, or devalue the purchasing power of a business - you know, when a business wants to buy raw materials or new machinery etc?
zalida100 1 year ago
@hobatu Correction, the rich have had it good since we started storing grain collectively.
elbowbiter1 1 year ago
This has been flagged as spam show
Wall Street Elitists want Keynesian economics because it makes them richer.
That is the problem.
kmarinas86 1 year ago
4.27 "..when gov spends money......that's not taking away from private business..." So where does this money come from, that the gov spends? ............If the professor can't solve this little conundrum, then most of the rest of his ideas, based on this are bollox.
zalida100 1 year ago
@zalida100
Bingo!
wcarlpdrysdale 1 year ago
@wcarlpdrysdale haha - Cheers :)
zalida100 1 year ago
Why doesn't Real News network interview real economists like Thomas E. Woods and Lew Rockwell?
gauharjk 1 year ago
We are past the point of no return, The dollar is done. Government spending is out of control and they are just going to monitize it. This guy is a nifty Keynesian. Hold on more Nationalism, Protectionism, and Price Fixing to come from these guys.
RandallSteen 1 year ago
don't buy maid in china; buy maid in the u.s.a. and grow your own foods.
wannaruwae 1 year ago
This guy is a joke... using the Bank of England as a reference in finance is like using the UN as a reference in a climate debate...
Therighttotruth 1 year ago
@Therighttotruth I don't follow your analogy. Are you saying the Bank of England is against businessw?
cheddyrod 1 year ago
Economic terrorists from Wall Street are damaging business confidence. When the people responsible for the collapse are given a lifetime prison sentence you'll see businesses gaining confidence in the false economy again. When you nationalize the Federal Reserve you'll see everyone gain confidence in a real economy.
GlobalResistanceEire 1 year ago 8
Austrian school of economics > Keynesian economics
chewbaca1989 1 year ago
@chewbaca1989
Totally destroying industrial civilization > Economics
CheeezMaster 1 year ago
This has been flagged as spam show
@chewbaca1989 Reality > Austrian school of economics > Keynesian economics
MrTrueMedia 1 year ago