Real Time with Bill Maher - 10/9/09 -Scary facts on the economy

[tuseroni]

"my wealth doesnt make you poorer" that is the definition of wealth. capitalism is a zero sum game and for one person to have money someone else must have less.

[TemeculaValleyLapse]

The economy functions like a parasite - consumes everything it lives on for further constant growth. It has a seemingly infinite appetite.

[Sunkincid]

"Follow the money"

[Zerrick80]

SO THE QUESTION IS:

NOW THAT WE KNOW THESE FACTS, WHAT ARE WE GOING TO DO ABOUT THEM?

[Dummy257]

@Zerrick80

Occupy ?

[Punisher2all]

I like real time with bill maher , and kudos to richard belzer for telling it like it is, but his audience are so annoying. The seriously clap at anything.

[Ringvireot]

The problem with debt levels that're occured throughout the United States and its territories is alot of currency values has been accounted for in a bad phase ever since the Wall Street stock market crash in '87. The mainstream media adds theories to conspire idealisms on debt and make out the equity funding would somehow base around taxation increases to every decent, hard working people.

[VirtualBoy500]

I love Richard Belzer, but...man, does he have some weird conspiracy theories.

[bloody31234]

@VirtualBoy500

Study history, pinpoint events that poke out, ask yourself who would benefit most from these events, try to draw some lines and use something they call 'common sense'. Add that up, put it into whole senteces.....tadaaaa you got a conspiracy theorie :)

[electronicoffee]

In 1980, the top 1% held 8% of National Wealth. Now the top 1% holds 40% of National Wealth. The top 1% holds more WEALTH than the bottom 90% COMBINED. That's like 1 person in a room full of 100 people, stealing 90 people's sack lunches and all of us being okay with it. CEOs in 1980 were paid 30x what their average worker earn. Now CEOs are paid 350x what their average worker earns. Is everyone okay with this? Is this 'fair' to you?

[daniel7899999]

Bill Maher isn't consistent. He'll say stuff in support of economic equality and then at the same time not criticize the federal reserve, obama or anything else that actually causes economic inequality. He's constantly contradicting himself all the time.

[electronicoffee]

@daniel7899999 WRONG DUMBFUCK. He always argues from the same points. Don't make up bullshit and try to lie: some of us have been fans for many, many years and we would know if he's contradicting himself.

[TheServiceWeb]

NEW BOOK FOR DEBATES AND GOVERNANCE

Topics: Terrorism, War, Law, Politics, Religion, The Issue On The Criminal Liability Of Foretelling The END OF THE WORLD, Other Debated Issues, Philosophy, Science, Others.

Websites: balancedway.yolasite.com

etc.

See Figure 4, which is THE MEANING OF THE PYRAMID, at figure4etc2.yolasite.com

figure4etc1.yolasite.com

etc.

See Announcements at announcements-balancedway.weeb­ly.com

announcements-balancedway.yola­site.com

[TAz69x]

Starve the Beast is a pernicious economic DISASTER; DOES NOT WORK.

Fuck Conservatives who have tried to insidiously implement this to decompose the US' Middle-Class.

fuck 'em

ಠ_ಠ

[ascetic43]

Belz for President!!!

[mtross70]

im not a belzer fan but he is speaking the truth about the fed

[4G3NTanon]

3 people who watched this are billionaires.

[4G3NTanon]

3 people who watched this are billionairs.

[djamorpheus]

Nice false assumption there...

[dokholiday86]

bill maher is one of these guys that if he hasnt heard of something then it must not be, y is it the most closed minded people are so called liberals

[Rensune]

Belzer is the only one who touched on the truth. The rest of these (Pundit, Professor, and Politician) Morons can't see the simple reason why quality of life is plummeting and single income house holds are no longer a possibility: a complete abandonment of a resource backed currency (normally gold and silver) combined with a high volume (quantitative easing) and a low productive sector (less than 25 %) leads to a pathetically weak dollar.

[595o]

@Rensune Pathetically weak but yet overrated.

[slye1991]

dr. cornell cracks me up something fierce

[halflifeproductionz]

i'm sorry for with FED without FED the economy was FUCKED!!! c'mon folks we gotta work together to get rid of the deficit and have BETTER POLICIES.

[stillnessONtheWAY]

@halflifeproductionz

Wrong!!!! Do you understand what was even said.... YOU HAVE A PRIVATE ORGANIZATION THAT CONTROLS YOUR MONETARY SYSTEM? IT CONTROLS THE WORLDS MONEY AS WELL NOT JUST HERE AT HOME IN THE US.

As long as the federal reserve aka central bank exists you will never get out of debt or have FREEDOM. Wake up and get your facts straight.... NO COUNTRY HAS ITS SOVEREIGNTY, NONE, ZILCH, ZERO.

[halflifeproductionz]

@stillnessONtheWAY the FED was created during the great depression. what caused that?

[stillnessONtheWAY]

@halflifeproductionz

A great book "the creature from jekyll island" by G. Edward Griffin explains this in great detail. You can even find related youtube videos on that as well.

[Rensune]

@halflifeproductionz The Federal Reserve is from 1913 enacted during the administration of one of the greatest villains of all time, Wilson (Who also enacted the first progressive income tax, via the Revenue act).

[frodolives100]

Belzer is smarter than I thought.

[Wordlaw12]

If thats why John F. Kennedy was killed then what about Bobby Kennedy

[doire7]

@Wordlaw12 I don't mean to be rude but are you joking? Obviously they were afraid bobby believed in the same policies his brother believed in therefore was just as big a danger because he was guaranteed to become president.

[jendeh1000]

Those were beautiful words coming out of Richard Belzer's mouth, well done.

[clydelaz]

We were middle class in the 1950's. We had 1 b&W TV in the house, in the living room. We had 1 telephone, 1 bathroom. I shared a bedroom with my brother. My Father and Mother shared one car. Would today's middle class living in their Mcmansions with private bedrooms and baths plus extra useless rooms, more cars than drivers, 6 TV's,all with 400 channels, telephone extensions everywhere plus cellphones, want to revert back to the 50's?

[jhbeattie]

@clydelaz It is good point though it reminds me of a quote from George Orwell on money:

"That buys our lives and pays with toys"

[NazcarFanatic24]

What was the name of the island Belzer mentioned?

[FungusMossGnosis]

@NazcarFanatic24

Either Skull Island or Jekyll Island...hhmm, the former is where Kong fought the dinosaur, so it must be the latter. Yes, Jekyll Island, GA.

[ThePseudoBasher]

Finally somebody said it on "mainstream" media

[janses08]

WOW someone tells the actual truth about the federal reserve and why kennedy was shot. !! good for him.

[Bobio1138]

Richard Belzer is awesome.

[emantabrizi]

God, those numbers that Maher reads around the five-minute mark are scary, especially the one regarding CEOs' salaries.  Unbelievable.

[angeldork]

Belzer is the shit

[amitp2]

A new Rasmussen Reports national telephone survey finds that 75% of Likely Voters prefer free markets over a government managed economy. Just 14% think a government managed economy is better while 11% are not sure. These figures have changed little since December.

[amitp2]

Most intelligent black economist

v=ERj3QeGw9Ok

[dennis345]

1. Husband and wife BOTH need to work just so the income of one of them can cover the taxes.

2. Federal Reserve created in 1913 to stabilize the dollar. The dollar has dropped over 95% in value since then.

[spacelingokc]

You know the things that get said on this show week after week year after year never seem to change. The corporations greed and control are what is to blame for all the problems we are seeing and have been seeing for 100 years. We all know that, its no secret, it gets talked about in every barbershop and ever diner and ever dinner table across this country. We all know. We all hate it. The real question is What can we do about it? Is the end of Fight Club the answer? If not then what is? Tell me

[TheWeareallequal]

I saw cornel west speak he was fantastic

[sfmike20]

To ease some of the inevitable depression caused by these facts, allow me to give my fellow college students a glimmer of hope. During the last year of the reign of our emperor Bush, I received around 3500 dollars of pell grants. This year I have received around 6000. Had the previous administrations policies continued I would have only qualified for around 4500-5000 based on income, and earned credits. Shit still sucks, but we all spoke out loud when we elected Obama. If only he would do more.

[dreadedhalo]

2:05 NO LIE! bless this input by him

[GeneralGhost]

Its a shame that only the educated will understand what these men are talking about.

[bigbengamer]

Richard is right. Kennedy was assassinated because he wanted to get rid of the central bank, and print money through the treasury department. Its the same reason Lincoln was assassinated. At that time, the central bank was controlled through the Bank of England. Lincoln was going to institute the greenback dollar, which the Bank of England couldn't control. He was assassinated a few weeks later.

[reavertor]

It's so rare that this kind of truth punches into mainstream media. You can hear how the room goes silent when Belzer spoke because it had the ring of truth.

Maher had to bring it back to comedy "showtime". I bet the network had their hand hovering over the "we are experiencing technical difficulties" button.

[joe80dmanizanerd]

@reavertor I like people who think criticly, but to say that some conspiracy is the truth is pretty ridiculous. Sure it could be true - but you wouldn't know.

[reavertor]

@joe80dmanizanerd the JFK reference could be argued but everything else Belzer spoke about is historical fact. Google "Federal Reserve Jekyll Island" if you don't believe me. Then google "Fractional Reserve Banking" and if you are still not convinced, google "Secrets of the Temple: How the Federal Reserve Runs the Country".

[AnonymousWhitePerson]

We live in a purely Debt-based Speculative Economy where the average person exists merely to Manufacture Debt within their lifetimes for the Banks to feed the worthless Speculative Debt Bubble Economy.

[AnonymousWhitePerson]

G Edward Griffin's "The Creature from Jekyll Island."

[Ruttie2]

Fuckin' ILLUMINATI! I hate those guys, they make money whatever they make, while we work and

suffer each day, and we don't even get a penny for

it! Bitches! Wait until i get my hands on them! >:O

Lizards!

[texas9085]

free market can also be confused with crony capitilism you know like the drug companies,the insurance companies,......ect just remember the i got mine and fuck you,will not last forever

[tonybeir]

conspiracy NUT ALERT

[doire7]

Richard belzer is a good man. I hope you all got that, the reason kennedy was killed. The bankers/military indusrial complex protecting what they believe is their's.

[SeoulSon51]

Exactly. Read The Creature from Jekyll Island.

[KillaHaakon]

@doire7 While I doubt that this was the reason, I do doubt that any banker shed a tear.

[doire7]

@KillaHaakon, Do a bit of research. Kennedy was not the first they assasinated. If memory serves me right the first was a congressman by the name of louis mcfadden who was staunchly against the federal reserve act before it was signed. They poisioned him at a banquet dinner. I'm sorry but the reason they get away with this stuff is because of the ignorance of people like you.

[Prka01]

@doire7 No damnit, it was Lee Harvey Oswald with an ACME bullet he bought from Wile E. Coyote! Then after that Wile E. sold some big rockets to Iraq and paid some Arabs' flying lessons with the profits. America needs to forget about Bin Laden, Wile E. Coyote is the real villain here. Send Sarah Palin to waste him with a high powered rifle from a helicopter! Disclaimer for the republicans: This was a joke, don't go on a shooting spree people!

[stillnessONtheWAY]

@doire7

Great comment, keep waking these sheep up.

RISE AND RISE AGAIN UNTIL LAMBS BECOME LIONS!!!!

[Kingdom007Hearts]

"My wealth doesn't make you poorer" Yes it Does

such a truism

[godawefulll]

We are doomed!!! This is one FUCKED UP Country!!!!GREED RULES!!!!

[WSidis]

I like the way the commercial conspiracy lune reveals himself with the KKK, Prescott Bush propaganda about how freeing the monetary system from the tyranny of democracy will solve our problems.

Of course, the moderate "black liberal" is the smartest, most qualified, and eloquent.

Then there's the corporate paid white politician who feigns being against the status quo and sounds like a decent script-reader.

Thank god the private "free" market controls content.

[linoleumcarving]

nice back and forth here...

[Greig1424]

Germany lost World War 2 but facism won

[peak2003]

The notion that CBS, NBC, ABC, CNN, PBS, MSNBC are "left" is another widely held FALSEHOOD. They are CENTRIST. They allow SOME left comment/viewpoints but they mostly dispense centrist drivel and a healthy dose of pro-corporate free market nonsense. A genuine left network would be The Real News service online or Democracy Now. Fox is clearly Right of center and even farther. What to do about Fox.... let it be and build REAL left news organizations.

[cheshcat1]

Ok guys. What can we do about FOX news? Ideas?

[JohnR22926]

chesh: Here's an idea doofus; change the channel. Oh, wait. I get it. Your bitch is that you don't want OTHER people to watch Fox. Ever heard of the 1st ammendment? I'll bet you think it shoulc only applies to people who think like you do.

Here's another idea. Fox in the only network that's Right of Center. All the rest (CBS, NBC, ABC, CNN, PBS, MSNBC) are Left. Sooooo...shift 1-2 of them to the Right and Fox's rating will drop. Comprende?

[WorldBFree2006]

unless your 6 years old you should never use the word "doofus."

[Greig1424]

shoot Bill O'Reilly in his stupid arrogant idiotic face

[amitp2]

This black guy is stupid. And I would have said this regardless of his race.

[drcicero80]

He has a PhD he is a college professor, he is not stupid, he speaks at a higher level.

[JohnR22926]

drcicer: I've read many of West's books and seen him on many talk shows; he's a fucking fraud. I'm not saying he's stupid...just that he's an ivy league affirmative action hire who has made his living at race-baiting.

He should be a postal worker or maybe a high school social studies teacher.

And he doesn't speak at a "higher level"; he speaks hibbity-gibbity bullshit and Liberals are just afraid to call him on it. The Emperor West has no clothes.

[amitp2]

really!!!. Just because someone is PhD doesn't give him wisdom (intelligence, yes. But not necessarily wisdom)

He is full of socialist ideas which will bring ruin to society.

Only Ron Paul style capitalism where currency is backed by Gold will bring back the days Bill Maher is talking about.

[Romansteel13]

@drcicero80

I can name 10 people with Affirmative action PhDs. We all know you're black, or a guilty white liberal. Racial Bias FTW.

[DaHonestAbe]

@drcicero80 A better question to ask amitp2 would be to if you're not racist, then why not refer to him by his name? Rather than "this black guy"? Know what I mean?

[WorldBFree2006]

How is he stupid? He is a professor at one of the most prestigious univeristies in the world.

[amitp2]

The same way your hero Bill Maher calls Lu Dobbs or Glenn Beck stupid. They both are well educated and much more wealthy than this professor. Just because someone is well educated or a professor doesn't make one's ideas right.

And it's just my opinion about his comments. You don't have to get so emotional about it.

[WorldBFree2006]

Dobbs may be well educated but Beck is not. He is a recovering substance abuser with no remaining brain cells. No one calls Dobbs stupid, just heartless.

[amitp2]

So what exactly should I call this prof because I hate his socialist ideas?

[WorldBFree2006]

Since when did paying working people a people a livable wage and providing them with healthcare become socialist ideas? Do you know the largest recipients of "socialist" government services that these teabaggers hate so much? The answer is our veterans that the right wraps themselves around to win elections. I think by the way you say the word "socialist" you (like most Americans) are confusing it with Communism. They are not one in the same.

[amitp2]

Well...All these idealistic dreams are nothing but Socialist. They are nice in concept but eventually they will bring ruin. And just in case you don't know, Socialism is nothing but Communism lite.

And let me tell you something, even though it might take a long time for guys like you to realize it. Socialism (or communism) is destroyer of societies, moral values and countries.

[WorldBFree2006]

I'm not advocating a for complete reconstruction. I'm talking about what we had in the 1960's and 70's, you know before Reagan. . If people call that socialist so be it. It worked our current system does not. Say what you will about unions but they were wonderful for working families. I know this first hand. My mom never had to work until I was about 14. One income was enough for us when the union was strong. When it was weakened my dad took a huge pay cut and lost benefits.

[amitp2]

If you don't know about what we had in 60s and 70s , INFLATION and getting off the GOLD STANDARD. Prior to that (until 1965) was golden age of USA.

I am sorry for what happened to your father. However, in a socialist country your family would not even have had food to put on the plate. It was never that bad for your family, I guess.

And unions many a times make things worse. Why don't you compare GM and Toyota.

[vatoencabronado]

At the same time, the Russian economy was never worse than when our "free market" economists went over there and rearranged their economy in the 90's. We here in the US have never had a completely free market, there have always been subsidies. In fact, none of the fortune 100 companies would have existed without these subsidies, and a large percentage of them have been saved from financial ruin by the taxpayers.

[amitp2]

Yes...and I oppose all these bailouts and subsidies to anyone, be it small or big. The companies that need to fail, should.

The fall in Russian economy was not the result of free economy but suffering due to years of communist legacy. The central government of Russia destroyed the capital that could have been used by entrepreneurs most productively.

[WorldBFree2006]

Toyota is based in Japan (a big bad socialist nation) where the entire government is a union. Therefore, if they do not pay their workers a satisfactory amount the gov't shuts them down. GM is in the condition it is not because of their weak union but because their product is inferior to almost all others. As I said before, pur system does not need a total socialist makeover. Big business however cannot be allowed to run this country.

[amitp2]

I have lived and worked in Japan for a long time. Toyota doesn't have a strong union. Other car companies in Japan have laid of workers when they ran into trouble. Japanese system is definitely not like western system, however it is not socialist for sure. You have to pay for government services such as healthcare.

And yes, big business should not be allowed to run the country. Today they can because so much power is in government's hands, only thing they have to do is influence the beurocrats

[vatoencabronado]

On the other hand, if you remove all of the federal power, and put it back at the state and local levels, there might be even more corruption. It takes a multinational corporation to influence the federal government, it might just take me and a couple of wealthy friends to decide things at a local level, and perhaps even a state level.

[amitp2]

I am all for removing the federal power and giving it to the people, not to state or local governments.

BTW, if the power is decentralized, it becomes much more difficult to influence decisions.

[amitp2]

Nobody has that much of power in true capitalistic society.

And before you complain, our current society is nothing but pseudo capitalism run by socialist.

[vatoencabronado]

Not sure what you're responding to here... Also, there needs to be some sort of regulation. I say that because if you remove all regulation at a Federal level, corporations have nothing to check themselves with. that would be handing over power to completely private entities which have no respect for anything other than profit, and trickle down economics doesn't work.

[amitp2]

@vatoencabronado

And I did say that power should be removed from the government.

I did not say, that power should be removed from federal government and given to state or local.

[vatoencabronado]

Well, then you're not an adherent to Ron Paul's ideology, he wants to take federal power and bring it down to the local and state level.

[JohnR22926]

world: you seem to be intelligent...but you're clearly uneducated. Try taking some 100 level college courses in Economics and Finance and you'll better understand how the free market creates wealth...while socialism retards the creation of wealth.

Europe is moving away from socialism as fast as they can and have lowered corporate tax rates below even the US' levels...to grow GDP, lower unemployment, and spur technology.

[myrelative]

excuse me, since when do college economics courses teach how the free market creates wealth?

I heard a lot about keynes there.

[cifier]

"free market creates wealth"

This is not a true statement.

[Horrendour]

@cifier Free market does enable growing wealth, the problem is that a market completely devoid of any regulation spreads the wealth so un-evenly that I could just agree with you. The wealthy gain the overwhelmingly vast majority of the gained wealth. This is why the European "social justice" economic model -largely admired by the smaller developing economies of the world- have this thing called income transactions to reduce the income gap between the wealthiest, and the, well, less wealthy.

[JohnR22926]

world: While you're at it, try taking some american history courses to better understand what happened in the 60s. After WWII the US had ZERO foreign competition...we built ALL of the world's cars, refrigerators, TVs, etc. Your Mom didn't have to work...Dad made enough at his good union job to live like a king. Then foreign competition hit in the 70s; that's why Mom had to go to work.

Stop pining for the 60s; those "good times" were temporary. Our crime is we thought they would last forever

[WorldBFree2006]

John: Why don't you try taking a course or two on how to remove one's head from said person's ass. If you don't agree with me fine, but if you're going to insult me then fuck off. There is no place for you in this debate.

[JohnR22926]

world: Good idea. Once I've completed the class I'll come see you and help you out with your "Rectal-Cranial Inversion" problem.

BTW, if you find my very tepid posts to be intolerably insulting, then Youtube is no place for a sensitive fellow like you.

[cifier]

"we built ALL of the world's cars, refrigerators, TVs, etc"

This is not a true statement.

[JohnR22926]

cifer: No, of course, we didn't literally build every single one. But, from 1945 until about 1975 we did build the overwhelming majority of them.

[cifier]

"overwhelming majority"

- This is an issue of perspective. If you are talking about US automotive companies building more than 80% of the worlds cars between 1945 and 1975, I believe that is an untrue statement. But if you are saying US Automobile companies built more than 40% of the worlds cars and that was the largest percentage of any country, then I can give you some credibility.

But it is difficult to give you weight when you just say things foolish things and get caught in them.

[JohnR22926]

cifier: I posted a link in the comments section of your profile page. Or...you can google "automobile production by country"

The link that says that "In 1950, the United States accounted for more than 80% of the global car production". It also has a chart from 1950-2008 which supports my posts. My point remains valid; that the US had virtually zero competition in manufacturing of comercial products from abroad until the early 1970s.

Looks like you're the one saying foolish things

[cifier]

Ok. First things tirst...

There is a difference between all and a majority. The false claim is a false claim. And making a number of false claims in order to forward a perspective is not a mistake, it is manipulation.

Second...

So what if a company make the majority of the worlds cars...someone is going to occupy that position. It is a STATISTIC not an ENTITLEMENT. And forwarding the implication that America is supposed to that, at the least, is juvenile.

[JohnR22926]

cifer: What are you talking about? This entire thread started with my explanation of the status of manufacturing in the US and the rest of the world after WW II. My comments were correct and I stand behind them (although I change the word "all" to "vast majority)..

I said NOTHING about any entitlement...those are YOUR words and clearly indicates to me you have an

anti-american bias that clouds your judgement. I suggest you switch over to DailyKos where you'll be among friends.

[cifier]

@JohnR22926

"free market creates wealth"

"we built ALL of the world's cars, refrigerators, TVs, etc"

"socialists care NOTHING about personal liberty. They're will to trade liberty off in exchange for some "free stuff"."

These are the top three quotes of yours. All of them are inaccurate. These inaccurate statements are being used to try to convince people that what you think is best for us. I gave this because you keep talking about us all. And in that discussion you IMPLIED the entitlement.

[cifier]

Just because a company based in the United States of America build the majority of a thing does NOT mean the United States of America OWNS that thing or anything that has to do with it.

[vatoencabronado]

Yep, that thought occurred to me the other day as I was driving by an army base, and saw all the housing there. If you join the military, they tell you what your job is going to be, what you're going to get paid, where you're going to go, and what you're going to do when you get there. They pay for the food you eat, the house you live in, and any health care needs you have. The DoD is probably the biggest socialist entity in the world.

[amitp2]

Defense and Law are the only areas where government should play some role. No other areas.

BTW, DoD is funded by taxpayers. And taxpayers get their money from the income they earn due to free market( relatively free !!). And if you find DoD job that attractive, let me tell you something. The only thing they don't give you assurance about it your LIFE.

[vatoencabronado]

Defense and Law? Hmm, that pretty much covers all of it, doesn't it? Unless you're referring to enforcing contracts when you say law. I don't find DoD jobs attractive, but I think it's funny when people send a bunch of people living under a socialist regime to go make the "world safe for democracy". I think anyone that joins the military might have good intentions, but they are only giving up control of their bodies which are promptly sent overseas to protect corporate profits.

[amitp2]

Defense and law covers only 2 areas. I am not all talking about healthcare, driving license issuence etc etc.

And we can send people on war just because there is too much influence of corporations on government decisions. That's exactly why federal government should be stripped of power.

[JohnR22926]

vateon: Yes, you're correct. They also tell you how to cut your hair, punish you severely for sexual dalliances (like adultry), and make you pee in a bottle quite often.

How utterly droll that the socialists on this thread would cite the military as a model for the larger american society.

Let's be honest; socialists care NOTHING about personal liberty. They're will to trade liberty off in exchange for some "free stuff". But what happens when the kindly govt turns tyrannical?

[myrelative]

then they just redefine liberty.

see: right to health care, right to a government education.

on the other hand, right not to be improsoned without a trial, not be spied on by governmetn agencies, keep your stuff? nah, not so much.

[dandemon1989]

@amitp2 you would NOT have said that regardless of his race, because if he was white, you wouldnt have said "That white guy is stupid." its obviously about race you ignorant asshole

[WikeddTung]

@amitp2 "this black guy" is cornel west, he's not just an academic he taught at harvard and currently teaches at princeton. you may not necessarily be a racist, but your misguided judgment of him is definitely based on race. the fact that he chooses to express himself like the average black man instead of some pretentious egghead is to his credit.

[amitp2]

@WikeddTung

In my opinion, he is stupid. And I can have my opinion, can't I? I am sure there are people on this blog who would call Bill Oreilly stupid, racist, idiot etc.. But even he went Yale. I am saying this just to make a point I don't necessarily hold Bill Oreilly in high regard.

In my opinion Cornel West bases his economic and racial opinions on leftist liberal foundation and I don't like his views. Period.

[WikeddTung]

@amitp2 you have a right to your opinions and if you choose to share them, i have a right to tell you you're wrong. he may "base" his economic ideas on "leftist liberal foundation" and you may not like it but that doesn't make him stupid. stupid is wanting more tax cuts and deregulation after 8 years of them destroyed the economy. in fact, that's not stupid, it's brain-dead. and there should be no doubt at all that dr.west's "racial opinions" are based less on politics than EXPERIENCE. period.

[amitp2]

@WikeddTung

What we saw for last 40 years was NOT free market. It was a market manipulated by government policies and central bankers.

A free market would NOT have a bailout, would not allow banksters to make enormous bets.

I want low (no zero) taxes and small government and gold backing of US dollar. I support Ron Paul.

So lets just politely say we have a difference of opinion on economy.

[WikeddTung]

@amitp2 i have no clue what you're talking about. allow me to put this thread back on track: i objected to your characterization of one of the preeminent african-american academics in the country as "stupid" and you actually attempted to defend your pov with the usual conservo rationale "right or wrong, i'm entitled to my opinion aren't i?" our polite difference of opinion is regarding your rather arbitrary and indefensible assessment of dr. west's intellect, not the economy.

[amitp2]

@WikeddTung

Lets get back to basics. Hear what his first opinion is in this clip.

The basic problems in the system (in my opinion) are that

i) too much government intervention

ii) Removal of gold backing of US dollar

iii) High taxes

And our friend Cornel West starts blaming bankers and corporations. Basically, who made these corporations & banks. It was people amongst us. It is not the problem with people, it is a problem with system.

I think "Dr." Cornel West is shallow.

[amitp2]

@WikeddTung

What we saw for last 40 years was NOT free market. It was a market manipulated by government policies and central bankers.

A free market would NOT have a bailout, would not allow banksters to make enormous bets.

I want low (no zero) taxes and small government and gold backing of US dollar. I support Ron Paul.

So lets just politely say we have a difference of opinion on economy. And yes, Dr. Cornel West's experience is through his leftist liberal tinted bias.

[therrydicule]

@amitp2 In 1928, the gap between the middle class and the 1% richer class was, on national in the USA, 49.3%.

In 1950, the same gap was up to around 60%. The middle class was richer, the rich was "poorer".

Right now this gap is lower than in 1928...

This mean: the economy is fucked-up. Every good economist have to include a social cost. if 50% of the population is dying of hunger but the GDP is going up that not "good" since most of the individual get poorer.

[amitp2]

@therrydicule

I agree the economy is fucked-up.

However, just because rich get richer does not mean others get poorer.

What most of these sensationalist talk shows and professors don't tell you is that according to statistics the real income of poor people in US has doubled. It is not a one way street where rich get richer means poor get poorer.

[therrydicule]

@amitp2 Be careful!

1: it is truth that since the 60's the median got twice richer. However, the poor (20th percentile) got from $14k to $18k... And the rich get many more times that.

2: even if you do not agree on the statement that poor got poorer and the median got more average; it mean that some got more that deserved statistically

3.The classical way to explain this is lack of education, shitty culture, "x"-ism. This effect social cohesion and health, making the case worst.

[amitp2]

@therrydicule

I agree that rich got richer more. But, the poor also got richer. However, the gap certainly increased.

Now, the real reason behind it is the lack of gold backing for our currency. After removal of gold standard, the asset prices inflated. Rich tend to own assets and poor tend to save money for rainy day.

When assets inflate, the rich, just by virtue of assets got richer, and poor, because the cash value depreciated got poorer. The only conspiracy here is removal of gold standard

[therrydicule]

@amitp2 To me, the gold have more to do with the devaluation of money than the repartition of it. And it is not a mater of conspiracy, but of sociology, politics and economics.

If what I say is right: super-richs probably have a costly education (Ivy League).

If you are millionaire: college diploma or more.

Working class and middle class: high school finish, college degree, trade degree...

Poor: Some high-school, not even finish.

Than, you will have ethnological problems. (the word "nigger").

[amitp2]

@therrydicule

Its about gold backing of the currency..not about education.

First of all...education does not determine much. There are PHDs with very low pay and high school dropouts earning a lot.

Secondly, if education is what defines the rich...there are actually more middle class and poor class students who have worked hard to get in the top schools. Getting into a school is lot more about working hard and being smart. People are George Bush where simply an exception to get into Yale.

[therrydicule]

@amitp2 What I am saying is:

1. the income inequality is increasing in USA. That a form of social stratification.

2.Education is used by the rich to protect their class.

The average income of a phd is about $106k. Just have an 9 grade, the average is $17k. The difference between them got bigger.

W got his education because H.W paid for it. However, a 9 grader could not offer his child a PH.D. at Yales. However, due to the Kuznets curve, his grand-child might.

3. I am not talking about inflation

[amitp2]

@therrydicule

I addressed income inequality in my prior replies.

Education is not used by rich...There are a lot of students in ivy universities that I know of and they came from middle class. Rich simply can't use the tool of education for the reasons I mentioned in my previous reply.

And why do you not want to talk about inflation? When gold standard was removed, inflation simply sored to stratospheric heights. This inflation is the root cause of rich becoming richer and poor poorer.

[hatecrewsj]

@amitp2 yea DR CORNELL WEST a professor at an ivy league university is a real moron

[amitp2]

@hatecrewsj

Can you frame a sentence? Or are you at an ivy league learning from this cornell west?

He is a professor and he has a point of view. I bet there will be equal number of ivy league professors who have opposite points of view.

And a professor is just an academic. Maybe you should see the interview of another very intelligent black economist Thomas Sowell on "Intellectuals and society"

[hatecrewsj]

@amitp2 Oh excuse me, I was not aware that we had to use proper grammar on Youtube. And for the record, I said nothing about his points of view. I said he's not a moron, he's a PhD and a professor at an ivy-league school. Before you argue with me get what I actually said straight

[amitp2]

@hatecrewsj

And your point is???

You are responding and opposing to my statement and Cornell West is an idiot liberal.

So other than your grammar, I thought I can correct you on your viewpoint as well. Please check out Thomas Sowell, just in case you think my opinion of Cornell West is based on his skin color.

[emantabrizi]

@amitp2 ... Actually, your grammar could use some work, as well. For instance, the sentence in which you wrote, "...thought I can correct you..." should read, "...thought I COULD correct you..."

If you insist on criticizing other people's grammar, please ensure that your own grammar is not in dire need of improvement.

[amitp2]

@emantabrizi

Agreed, a minor mistake and I will probably not do that mistake again.

Thanks for pointing it out.

And now I think you COULD appreciate the difference of response from others and from me.

[emantabrizi]

@amitp2 ... It should be "MAKE that mistake," not "DO that mistake." Also, it's not "...difference of response from others and from me." It should be "...difference between my responses and the responses of others."

Are you annoyed yet, or do you enjoy having someone correct all of your little grammatical errors?

[amitp2]

@emantabrizi

I studied grammar for taking mgmt. And even I know about the nuances. However, the current language has evolved enough to accept the minor ones that I MAKE.

Mistakes that were made by hatecrewj were flagrant enough to be unacceptable.

And if you want to keep on pointing my mistakes, please go ahead.

And for the second mistake. if you try to correct it, the sentence becomes longer and unreadable. I believe my choice was better.

[emantabrizi]

@amitp2 ... Actually, your choice had a different meaning than what you intended. If you want to talk about the differences between you and others, then you have to say it the way I did. However, when you say, "...difference of response from others and from me...," what you're doing is putting your responses and the responses of others into one group instead of differentiating between them.

[amitp2]

@emantabrizi

Absolutely not!!!

Both patterns are equivalent.

[tjfgermany58123]

you never heard JFK and silver certificate? It true.

[anandgupta90]

Great discussion! "Our wealth doesn't cause your poverty." Does that untrue statement extend to 1st world and 3rd world countries?