Is Obama's Stimulus Creating a False Recovery? - James Matthews

[marniespeaks]

tax the rich 98%

give every American a house

end the war of send the children of Congress and the wealthy

[MajDigi]

Nah man, just mug old ladies. It's just as immoral as what you're proposing, but it's going to be much easier to accomplish.

[marniespeaks]

moral? what is moral anymore?

god is dead jr

[TheProgressistViewer]

Theft is immoral. Wheter its legal or not.

[storms0rz]

@marniespeaks are you fucking dumb?

[WhyAskQuestions]

Actually it was 2 U.S. Navy Ships at the Gulf of Tonkin:

On August 2, 1964 two American destroyers engaged three North Vietnamese torpedo boats, resulting in the sinking of one of the torpedo boats. On August 4, 1964, the American destroyers reported a second engagement with North Vietnamese boats. However, this second report was later discovered to be in error. Together, these two incidents prompted the first large-scale involvement of U.S. armed forces in Vietnam.

Inside Job? Unlikely!

[WhyAskQuestions]

I can see DLucas has found a new home over on this video.

Dude, you seriously needed blocked. Blabbering about 9/11 being an "Inside Job" on my video & trying to insult me.

I'm glad you can take that shit else where!

[dlucas90]

Ya, people should go check that vid out! I got thirty hits on my channel last night thanks to your announcing my being blocked on your channel.

Your video was about 911 truthers, so I don't know why you would be surprised to have someone disagree with your vid.

"whyAskQuestions" is a name that says it all, it is the perfect name for a loser that can't think for himself.

[WhyAskQuestions]

DLucas, people love to see someone with a mental problem like yours. You say that I can't "think" for myself, well I don't follow gossip like you do. You're the one that can't think for himself, only losers let other people think for them. You're a Truther and will be exposed for being one. No reason to hide your idiot side.

[dlucas90]

Deniers can think for themselves, instead, they rely on government funded "experts". By a deniers logic, you can not say I have a mental disorder unless you are a qualified psychiatrist. Do you have a PhD in psychiatry?

Yes I am proud to be a truther. If a lie is the opposite of the truth, and you are not a truther whats that make you?

[WhyAskQuestions]

@dlucas90

Who said that I only relied on the Government? Only you & your twisted mind!

You do have a disorder, you can't think for yourself much less research about 9/11 for yourself. You're a lazy SOB & that's what Truthers are, lazy!

I guess you've never read the U.S. Constitution, the first few words of it?

You know: "WE, THE PEOPLE....."

But in your eyes it says: "We, the Government....."

[dlucas90]

Look dude, if you still believe that 19 Arabs armed with $10 worth of box cutters managed to thwart a multi-billion dollar air defense system, (that trains for commercial hijackings) and hijack 4 planes and destroy 4 strategic targets with three planes, then your reality needs to be scrutinized. Perhaps you believe we should send the "A-team" to kill Bin Laden, why not, it is as believable as the govt.'s conspiracy theory?

Yes, "we the people" are the govt.. Tell the govt. officials that.

[WhyAskQuestions]

@dlucas90

How can you explain how an Arab named Ramzi Yousef, drove a Ryder truck into the parking garage under WTC1 & detenated a bomb in 1993?

Can you explain that or is your delusional mind telling you that the FBI was somehow involved?

"We, the people...." isn't he Government, the Government doesn't vote for itself. Can you explain how canidates are voted into office if there's no people to vote for them?

[dlucas90]

Interesting you should bring up the 93 bombings that took out the basement of one of the towers. You would think the tower would have fallen down considering the damaged area was still supporting 99% of the buildings structure. In contrast, on 911 an upper 20% of a damaged tower "fell through" the bottom 80% of the rest of the building.

Could the 93 bombings have been a inside job? I don't know. Was the "gulf of tonkin", an inside job? The government now admits it was.

[WhyAskQuestions]

@dlucas90

Gulf of Tonkin was about a U.S. Navy Ship.

I think you'd better read about it before shooting you mouth off!

[WhyAskQuestions]

Also can you explain why the U.S. Constitution allows States to have militias & to Govern their own State by the will of the people?

This country was founded by the will of the people. Through their blood, sweat & tears this country was founded.

You, DLucas, will never fully understand & you never will.

[dlucas90]

The reason the people can elect their representatives and the reason they can form militias is because "we the people" are the government. If we lived in a dictatorship the government would not be run by the citizens and would not be allowed to question their government. You would like it in such a country, they kill people like me, who dare disagree with the government.

[WhyAskQuestions]

@dlucas90

America isn't Germany were it's WWII.

[marsCubed]

a bargain costs more money.

[BigPurple121]

I just saw on the news that Detroit wants more stimulus money for jobs.

Here's the problem with Keynesian economics: poor wealth allocation. Funds are distributed based on political power; no body has enough information to put dollars in the right place. This misallocation is going to cause a hangover, much like Japan saw.

[dlucas90]

A fake (jobless) recovery is appropriate for a fake economy.

Check out how money is created to begin with to see what is really going on. If you don't already know how money is created then you really must see "money as debt". It is a real eye opener for politics and the economy.

[realisoph]

I totally agree... there is not a shred of need to discuss any secondary symptoms, like housing bubbles and what not if people refuse to get informed about the corrupt nature of money who is really in control fo our lives... just as much as in control of fears and war targets.

It is incredibly frustrating to see Obama send another 30000 troops to Afghanistan which clearly sounds 100% opposite to the way I perceived his electoral campaign.

In other words... he's just another puppet?!

[dlucas90]

I had hoped for better from Obama too, but it seems he is under the same control that Bush was under.

The creation of money is at the heart of the matter. We will never have a sound finacial system if we keep the current central banks and their fraudulent fiat currency.

Anytime in history that a group of people have been given the power to create money from nothing, they do, and they use it to buy up the governments that borrow from them.

[realisoph]

Money will always be created out of nothing, I believe.. the question rather is... who really controls that... and how.

[dlucas90]

Again, "money as debt" is the best place to start to answer your questions. It is a Canadian educational film that explains how the banks evolved into what they are today. No theory, but plenty of legalized conspiracy. I have it at the bottom of my "favorites" list but if you wish to watch it without it being broken into 5 parts, watch it on google vids. It is only 40 minutes long and easy to follow. You will then know why "money creation" was never taught in school.

[realisoph]

I am well aware of this and other documentaries of that kind.

Just yesterday I watched: watch?v=cgUwjF1RuBw

The thing is that money will always have to be a shared, yet controlled standard.

I cannot just go about print my own money and ask you to accept it... that age is gone.

What is missing today is that it is a democratic, debt-free institution without any attached exponential interest functions, a social standard to evaluate social / shared, instead of individual benefit and value.

[dlucas90]

What do you think about the American government going back to American currency based on gold and silver as is specifically required by the American Constitution?

Bankers can't make it from thin air, and the value of the money itself would be valued based on the free market need for money.

[realisoph]

I think that would be a very bad idea as certain people today sart out with quite a monopoly on preexisting capital which others do not.

I find nothing wrong with money just being an artificial standard. On the other hand, I also find nothing particularly natural about gold or silver as such a standard.

As for me, the scarcity of money should only be controlled by regulating its supply in a democratic manner, as I said, debt free... not by artificial free market scarcity.

[dlucas90]

I think the reason the writers of the constitution wanted only gold and silver to be used as American currency was A) gold and silver have historical value, for thousands of years you could use it as money, AND B) bankers can't make it from nothing and then "buy" the government, as has happened with fiat currencies through out history.

Bust up those pre-existing monopolies and spread them out. It spreads the "pre-existing capital" and creates competition.

[realisoph]

That is indeed a valid point, to have a natural scarcity & force markets to adapt to changes in the value system, e.g. introduced by new technologies.

Though, you can as well fake gold and, especially, silver. It is much harder to do on a large scale by private banking.

I feel that true scarcity is not the right way. Just the other day I thought that, maybe it is about time to create something like:

openbank org (doesn't exist)

opensource, no debt, no private interests

[dlucas90]

How would openbank. org operate? Can you give me the "jist"?

[realisoph]

That is a good question and one for which there have probably not been many people yet daring to try and answer it. It should...

*be opensource

*be self-regulatory

*all transactions transparent

*based on mutual trust relations that establish over time via positive / negative ratings

*have interfaces & interactions hand in hand with other, today's monetary systems

*not allow gambling à la wall-street

*no interest payments

*create new funds in a communal, democratic process

*etc...

[realisoph]

*you'd have usual "accounts"

*amounts should reasonably deprecate over time such that the currency moves and cannot be hoarded

*it would be more of a democratic marketplace than an actual bank... which is what a bank should be

So what it boils down to seeking for answers to the question of how would a responsible, democratic "financial" institution work? and to establish that on the grounds of a handful of fundamental premises and tenets.

[realisoph]

That's why I am calling for democratic regulations.

Private banks creating money should be nationalized without any argument.

Fractional reserve systems must go, just as much as compound interest, not to forget stupid prime rates. It takes only half an hour to realize why all of this is necessary.

Bankers should only do what everyone already thinks they are doing, yet which they are not: manage EXISTING assets for third parties.

[dlucas90]

Totally agree.

[GOPsithlord]

It's sometimes called a "Keynsian bump" by economists. It's artificial from start to finish and while we're out of recession technically, to reinflate a bubble is simply waiting for that bubble to pop again.

[Bobbiethejean]

Obama has turned out to be SUCH a disappointment. He's not fixing any of the things that caused the first crash and we're gearing up for another one. The only difference is, next time we won't be able to bail ourselves out. :(

[Daniel44125]

False recovery and a bailout bubble. Not to mention its the broken window fallacy.

[alexmigda]

Of course it is! It's not rocket science.

Another politician

doing nothing but something for his own ambition.

[FoodResponsiblity]

You think? Most educated people knew that this was a 'false' recovery, or at least anyone whom has passed college level economics 101.

[Shadowfire0001]

The stimulus was a joke. A temporary boost to current gdp by throwing masssive amounts of money that will in the future create high rates of inflation and an increased tax burden on US Citizens. And what do we get for it? Above 15% unemployment when you factor underemployed, those who aren't looking, those who are still looking and individual businesses without work.

The free market should have been left to auto correct itself like it did in the depression of 1920 with President Harding.

[migkillertwo]

if its a false recovery, its caused by the federal reserve, not the fiscal stimulus.

[mainesprocket63]

Agree with Eugensdiet

Our country is a hollow shell of its former self where it is all about making a dollar as quickly as possible with no real value added to society. The trillions poured into the black hole that is Wall Street could have been used to make vast improvements to mass transit, green energy technology, farming technology, medical technology advances, etc. The OTC derivatives market will collapse and the house of cards that is Wall Street will fold when it happens.

[ONQproductions]

Obama's stimulus plan? What planet is this guy from? Congress did this to us. Congress had a chance to invest in our future, and all they did was line their own pockets. Congress screwed up the stimulus, not Obama. He's just the guy who was too weak to make Congress do what he wanted.

[ArcaneKarma]

It's a game of chicken, and people who don't give a fuck who they run over tend to win those games.

[ithinkronpaulissmart]

Yeah, if only Obama had some sort of power where he could stop bad legislation from passing. like a veto or something...

[voyeurdug]

"Studies have shown" - yeah? Who What Where When, etc.

And... in China, the state is the source of most investment, especially for infrastructure. In the U.S., the state is only a significant contributor to infrastructure investment. The private sector has to pony up for that shortfall 'cause they'll be running it and profiting from it as well as using it.  His comparisons are not comparable.

[Eugensdiet]

Not enough said. The stimulus is a lie. It falsely puts people to work for a limited period of time. When the money runs out they will be unemployed. As pointed out the money could have been used for energy research, medical research, etc. Instead a good part of the money has gone to corrupt contractors. We need to bring industry back to this country so we can afford to trade with other countries. The problem with the government is they wait for something to be a crisis before they react. Sad.

[Prolific85]

For those of you that gave Eugensdiet a thumbs down, please fill him and me in and where he is wrong. Perhaps with something factual?

[ArcaneKarma]

I didn't give him a thumbs down. But I have to say, his statement ignores orthodox economics.

"It falsely puts people to work for a limited period of time. When the money runs out they will be unemployed."

That flies in the face of what we know, or think we know about economics. And tbh, I don't see how Eugensdiet's revision could be correct.

[Shadowfire0001]

Private business is self sustaining. Government funded programs are different.

When you invest in a business, it self-perpetuates by virtue of its desire to continue to gain profits.

Government contracts exist for a limited time. Like when you hire a guy to build a road/canal/electric plant. Once it is built, then the work runs out.

[ArcaneKarma]

there's nothing wrong with your first point, but your 2nd is way off. those people who work those contracts spend their money. that money is puts other people to work. then those people spend that money putting other people to work. It's econ 101.