Everyone needs to see this. This is amazingly accurate and the clearest explanation of what's happened in layman's terms. We should put the people who profited from this disaster in jail forever. This is the biggest scam of our lifetimes.
@TimeWarp66 Oh dear... I do believe you are confusing "free marketers" with the "free market" they actually defend =oP Free marketers are being played like fiddles by the very myth they espouse. You simply cannot allow so many powerful individuals and organizations to run free and expect everyone to come out with a fair shake.
Nonsense. Let me ask you this? How do individuals become wealthy and powerful in a free market? Answer: By serving there fellow man. Bill Gates is a powerful individual because he created something that benefited man kind and raised everyone's standard of living ten fold. You seem to think of capitalism as a dog eat dog system where only the strongest survive and the weak are left to perish in poverty. This is a common fallacy I hear, and it is pure nonsense. Dangerous nonsense at that.
Have you ever seen the film Pirates of Silicon Valley? Individuals, and more often groups gain power and assets through coercion and clever manipulation of the system and others. A free market system encourages and creates a safe environment for collusion, discrimination, and elitism.
No it does not. I would look at FACTS rather than movies to shape my world view. And the facts are; the computer you are typing on is a product of collusive powerful greedy men working together to build a product that will serve their fellow man in order to make a profit. What's elitist are Liberals and bureaucrats thinking they know what's best for everyone and controlling individuals through regulations and high taxes.
An economy, and ultimately, a nation do not thrive as a result of a corrupt "kill or be killed" corporate environment. Discipline is the best way to ensure responsible and productive behavior in my opinion.
Children are a good example. They don't behave because it's in their nature, and we don't leave them to their own devices forming gangs and acting recklessly to the detriment of others. We provide them with a heavily-structured environment and discipline which is devised and supported by society as a whole.
I don't know about you, but I don't see myself, or other adults as children, and I don't see government as my parents! Anyway, you fail to realize free markets are structured environments that self regulate.
That's cool, so why don't we have a society that functions in the same way? No police, no laws, just a bunch of folks walking, driving, and living together free to do whatever they want. Because, if we did, there'd be rampant uncontrolled and unpunished crime.
Rule of law, cops and courts are a legitament function of government. Telling businesses how to run their operations, and taxing everyone to the high heels to pay for socialist programs that innevitably go bankrupt is not a proper function of the state.
Who should decide what constitues fraud, coercion, and collusion? If you reach too far to protect consumers/citizens from these forces you're back where we started: regulation. Additionally, who is to fund these protective measures? How about Public Education, Healthcare, Sanitation, Traffic Operations?
We need legislators to determine what constitutes these abuses. As well as our written constitution which lays out the proper guidlines for the state. You do not need minimum wage laws, terrifs or other forms of state controls to protect citizens from force/fraud.
Traffic operations and sanitation are proper functions of LOCAL government because their is no practical way the private sector could run those institutions. Healthcare and education must be left to the market.
Who pays these legislators? Rather I should say, who buys their votes? =o) With no social services (welfare) or minimum wage, do you not suppose many people will wind up starving, homeless, committing rampant crime? Local governments. So the good (wealty) neighborhoods with thrive, what of the lower-income areas? No healthcare, food, or educaton for the poor. The rich in control of everything. Sounds ideal.
The reason I say local govt is because it is the most responsive to the governed. The more distant and centralized bureaucracies become, the less responsive they are to specific problems in communities. Minimum wage laws actually increase poverty by increasing unemployment. The best mechanism thus discovered for irradicating poverty is the free market. When I say local govt, I mean City gov, so poor neighborhoods will not go without and the rich will not control everything. lol.
In a free-market system local governments are controlled by those with the most money/power. Those people WILL enjoy the benefits while the poor suffer and die. Without a minimum wage workers will starve anyway. It is not at all in a business' fiscal interest to adequately pay/protect employees employees. The business won't be forced to provide adequatly because there will be nowhere better for workers to turn.
That is pure nonsense. If "rich people" or any people control government and use it to benefit them, then a free market does not exist. Minimum wage laws hurt the people you are most wanting to help! If i'm an employer and I want to hire you, but lets say I can only pay you $6 an hour, and you agree to that wage, the government steps in and says "oh no, you have to pay all your workers a minimum of $7.50 an hour." Well if I can't afford to pay you that, you go without a job.
And you help me make a great point sir: the free market is a fantasy that cannot exist in the real world. The distribution of wealth is already severely skewed, so those who have the money (and power) will retain it and utilize it to the detriment of others without restrictions/regulations. You make a good point about minimum wage, but what sort of businesses are you referring to which can't afford to pay a living wage?
In reality businesses aren't against minimum wage because they can't afford that while making a great profit. They are against it because they can't afford to pay a living wage AND continue living their incredibly lavish lifestyles!
That isn't true. In a free market if store A pays its workers $5 an hour and store B pays $6, who do you think workers will gravitate towards? Store B obviously, so store A is forced to either raise its wages to their employees or go out of business. Profits and lavish life styles have nothing to do with it.
Henry Paulson and George Bush supported the BAILOUT. George's own words,.."To save the Free market, I abandon the Free Market"..????huh???
nickfl1980 2 years ago
love it!!But the true facts are sad!!
emilloo83 2 years ago
I couldn't have said it better if I didn't say it myself.....
sweetpeavanbc 3 years ago
Everyone needs to see this. This is amazingly accurate and the clearest explanation of what's happened in layman's terms. We should put the people who profited from this disaster in jail forever. This is the biggest scam of our lifetimes.
WallyAnti 3 years ago
In a truly free market subprime loans would not exist. The subprime market was created because of market interference
davidmesaaz 3 years ago
Not a single free marketer supported this bailout. It was only big government Liberals like Barney Frank.
TimeWarp66 3 years ago 4
it's what happened before the market crash that was the problem. the bailouts just added to this disaster.
LouieArrighi 3 years ago
@TimeWarp66 Oh dear... I do believe you are confusing "free marketers" with the "free market" they actually defend =oP Free marketers are being played like fiddles by the very myth they espouse. You simply cannot allow so many powerful individuals and organizations to run free and expect everyone to come out with a fair shake.
MDCeasar 2 years ago
Nonsense. Let me ask you this? How do individuals become wealthy and powerful in a free market? Answer: By serving there fellow man. Bill Gates is a powerful individual because he created something that benefited man kind and raised everyone's standard of living ten fold. You seem to think of capitalism as a dog eat dog system where only the strongest survive and the weak are left to perish in poverty. This is a common fallacy I hear, and it is pure nonsense. Dangerous nonsense at that.
TimeWarp66 2 years ago
Have you ever seen the film Pirates of Silicon Valley? Individuals, and more often groups gain power and assets through coercion and clever manipulation of the system and others. A free market system encourages and creates a safe environment for collusion, discrimination, and elitism.
MDCeasar 2 years ago
No it does not. I would look at FACTS rather than movies to shape my world view. And the facts are; the computer you are typing on is a product of collusive powerful greedy men working together to build a product that will serve their fellow man in order to make a profit. What's elitist are Liberals and bureaucrats thinking they know what's best for everyone and controlling individuals through regulations and high taxes.
TimeWarp66 2 years ago
An economy, and ultimately, a nation do not thrive as a result of a corrupt "kill or be killed" corporate environment. Discipline is the best way to ensure responsible and productive behavior in my opinion.
MDCeasar 2 years ago
Children are a good example. They don't behave because it's in their nature, and we don't leave them to their own devices forming gangs and acting recklessly to the detriment of others. We provide them with a heavily-structured environment and discipline which is devised and supported by society as a whole.
MDCeasar 2 years ago
@MDCeasar
I don't know about you, but I don't see myself, or other adults as children, and I don't see government as my parents! Anyway, you fail to realize free markets are structured environments that self regulate.
TimeWarp66 2 years ago
That's cool, so why don't we have a society that functions in the same way? No police, no laws, just a bunch of folks walking, driving, and living together free to do whatever they want. Because, if we did, there'd be rampant uncontrolled and unpunished crime.
MDCeasar 2 years ago
Rule of law, cops and courts are a legitament function of government. Telling businesses how to run their operations, and taxing everyone to the high heels to pay for socialist programs that innevitably go bankrupt is not a proper function of the state.
TimeWarp66 2 years ago
Who should decide what constitues fraud, coercion, and collusion? If you reach too far to protect consumers/citizens from these forces you're back where we started: regulation. Additionally, who is to fund these protective measures? How about Public Education, Healthcare, Sanitation, Traffic Operations?
MDCeasar 2 years ago
We need legislators to determine what constitutes these abuses. As well as our written constitution which lays out the proper guidlines for the state. You do not need minimum wage laws, terrifs or other forms of state controls to protect citizens from force/fraud.
Traffic operations and sanitation are proper functions of LOCAL government because their is no practical way the private sector could run those institutions. Healthcare and education must be left to the market.
TimeWarp66 2 years ago
Who pays these legislators? Rather I should say, who buys their votes? =o) With no social services (welfare) or minimum wage, do you not suppose many people will wind up starving, homeless, committing rampant crime? Local governments. So the good (wealty) neighborhoods with thrive, what of the lower-income areas? No healthcare, food, or educaton for the poor. The rich in control of everything. Sounds ideal.
MDCeasar 2 years ago
The reason I say local govt is because it is the most responsive to the governed. The more distant and centralized bureaucracies become, the less responsive they are to specific problems in communities. Minimum wage laws actually increase poverty by increasing unemployment. The best mechanism thus discovered for irradicating poverty is the free market. When I say local govt, I mean City gov, so poor neighborhoods will not go without and the rich will not control everything. lol.
TimeWarp66 2 years ago
In a free-market system local governments are controlled by those with the most money/power. Those people WILL enjoy the benefits while the poor suffer and die. Without a minimum wage workers will starve anyway. It is not at all in a business' fiscal interest to adequately pay/protect employees employees. The business won't be forced to provide adequatly because there will be nowhere better for workers to turn.
MDCeasar 2 years ago
That is pure nonsense. If "rich people" or any people control government and use it to benefit them, then a free market does not exist. Minimum wage laws hurt the people you are most wanting to help! If i'm an employer and I want to hire you, but lets say I can only pay you $6 an hour, and you agree to that wage, the government steps in and says "oh no, you have to pay all your workers a minimum of $7.50 an hour." Well if I can't afford to pay you that, you go without a job.
TimeWarp66 2 years ago
And you help me make a great point sir: the free market is a fantasy that cannot exist in the real world. The distribution of wealth is already severely skewed, so those who have the money (and power) will retain it and utilize it to the detriment of others without restrictions/regulations. You make a good point about minimum wage, but what sort of businesses are you referring to which can't afford to pay a living wage?
MDCeasar 2 years ago
In reality businesses aren't against minimum wage because they can't afford that while making a great profit. They are against it because they can't afford to pay a living wage AND continue living their incredibly lavish lifestyles!
MDCeasar 2 years ago
That isn't true. In a free market if store A pays its workers $5 an hour and store B pays $6, who do you think workers will gravitate towards? Store B obviously, so store A is forced to either raise its wages to their employees or go out of business. Profits and lavish life styles have nothing to do with it.
TimeWarp66 2 years ago
from 1781- 1913 the United States was a free market society. How do you explain that?
TimeWarp66 2 years ago
Who is that mysterious person at 4:17? 8)
Amiduffer 3 years ago
its a picture of the actor portraying the investment banker. wtf its doing there, i dont know.
ttz4m3 2 years ago
4:17
Overtime123 3 years ago
This has been flagged as spam show
its a picture of the actor portraying the investment banker. wtf its doing there, i dont know.
ttz4m3 2 years ago