He spends most of this video explaining what will happen if we get further downgraded. We got downgraded because we have spent more than we have taken in for years and the faith that we will be able to pay our debts is in doubt. His solution? More public spending. Laughable!
@napamike No, we got downgraded because the laughable analysts at S&P, who didn't forsee the credit crisis and continued to give AAA+ ratings to CDOs made up of subprime mortgages, wanted to increase their news profile. In the long-run, yes, we have a credit crisis, most of which is solveable by letting the Bush tax cuts expire. In the short run, we have one of the worst unemployment rates since the Great Depression, and counter-cyclical spending is the best answer.
@DaveQat Counter cyclical spending, ooh, that sounds intelligent. More public spending will be just like the 700 billion they spent on the last stimulus, ineffective. Unless being deeper in the debt hole was the desired goal. Wake up you over educated morons who think government can spend us out of our problems. The truth is, we can no sooner spend our way to prosperity than you can on a personal level. All that Keynesian BS has not put any cloths on the emperor.
Global Wealth Destroyed by Wall Street from Dec 2007 to Dec 2009: ~ 50 Trillion
American Wealth Destroyed by Wall Street from Dec 2007 to Dec 2009: ~ 20 Trillion
You can't help but wonder how much smaller the 1%'s budget for wealth destruction would have been if they were taxed without loopholes. Maybe then we wouldn't be in pissing matches over spending.
@napamike No he's saying that public spending doesn't have a direct impact on our nation's deficit in the long run. Cutting public spending is just like the government flopping around like a fish on dry land. You are basically preventing the inevitable. You might as well as say removing tax breaks on big companies will give the government the money it needs eventually (now that's a laugh).
@shoulderkolibri "No he's saying that public spending doesn't have a direct impact on our nation's deficit in the long run". Ha! you have made my day. What is it that cause's the deficit anyway if not public spending? Moron! Remember basic math? You had better get a refresher. It's amazing to me that anyone is so sycophantic as to believe there is some magical thing about the economy as a whole that stands the logic we use to keep our own accounts balanced on it's head.
hold up didnt college humore just upload this?
ezblackhawk 5 months ago
Fuck u copy cat
seatmon111 5 months ago
y u upload b4collegehumor!?!?!?!?! h4x
InSaNeiZSoHawT 5 months ago
BEN BERNANKE SUCKS
22Mrjsmooth 5 months ago
yes, i will buy a slap chop instead
xiaobaozlx 6 months ago
Robby killin it!
bonerbeagle 6 months ago
He spends most of this video explaining what will happen if we get further downgraded. We got downgraded because we have spent more than we have taken in for years and the faith that we will be able to pay our debts is in doubt. His solution? More public spending. Laughable!
napamike 6 months ago
@napamike No, we got downgraded because the laughable analysts at S&P, who didn't forsee the credit crisis and continued to give AAA+ ratings to CDOs made up of subprime mortgages, wanted to increase their news profile. In the long-run, yes, we have a credit crisis, most of which is solveable by letting the Bush tax cuts expire. In the short run, we have one of the worst unemployment rates since the Great Depression, and counter-cyclical spending is the best answer.
DaveQat 6 months ago 10
@DaveQat Counter cyclical spending, ooh, that sounds intelligent. More public spending will be just like the 700 billion they spent on the last stimulus, ineffective. Unless being deeper in the debt hole was the desired goal. Wake up you over educated morons who think government can spend us out of our problems. The truth is, we can no sooner spend our way to prosperity than you can on a personal level. All that Keynesian BS has not put any cloths on the emperor.
napamike 6 months ago
@napamike
Global Wealth Destroyed by Wall Street from Dec 2007 to Dec 2009: ~ 50 Trillion
American Wealth Destroyed by Wall Street from Dec 2007 to Dec 2009: ~ 20 Trillion
You can't help but wonder how much smaller the 1%'s budget for wealth destruction would have been if they were taxed without loopholes. Maybe then we wouldn't be in pissing matches over spending.
fram4153 3 months ago
@napamike No he's saying that public spending doesn't have a direct impact on our nation's deficit in the long run. Cutting public spending is just like the government flopping around like a fish on dry land. You are basically preventing the inevitable. You might as well as say removing tax breaks on big companies will give the government the money it needs eventually (now that's a laugh).
shoulderkolibri 6 months ago
This has been flagged as spam show
@shoulderkolibri "No he's saying that public spending doesn't have a direct impact on our nation's deficit in the long run". Ha! you have made my day. What is it that cause's the deficit anyway if not public spending? Moron! Remember basic math? You had better get a refresher. It's amazing to me that anyone is so sycophantic as to believe there is some magical thing about the economy as a whole that stands the logic we use to keep our own accounts balanced on it's head.
napamike 6 months ago
Epic!!!!
I wonder if he can explain the Tea Bagger anger of being downgraded to KK+ :-)
Sarge714 6 months ago 9
win
algeeman 6 months ago