True News 50: Ten Lost Years

[TheCeejReturns]

"It's like going to therapy vs. snorting cocaine. Both will make you happy. One is more sustainable."

Really? Comparing two drugs to each other and calling one more sustainable? You might as well have said, "It's like smoking pot vs. snorting cocaine."

I'm still trying to figure out which one is supposed to be the sustainable one.

[Sharaashleyz]

On my channel I did a top 5 things I wont miss from the last decade! Check it out, Episode #4 of The Shara Ashley Show!

[sharperguy]

Sorry to nitpick on something which is entirely irreverent to the point of the video, but PCP isn't a stimulant and doesn't allow anyone to "take on 10 cops".

PCP is a dissociative similar to Ketamine or DXM (found in cough syrup).

PCP doesn't make you violent in the same way that marijuana doesn't make you grow dreadlocks, it's just the culture surrounding the substance.

[sharperguy]

Probably should've added that this is a good video and I certainly agree that state manipulation of the money supply is very comparable to taking stimulants and steroids instead of actually working out.

[dkleitsch]

Included in the portfolio of behavioral disturbances are acts of self-injury including suicide, and attacks on others or destruction of property. The analgesic properties of the drug can cause users to feel less pain, and persist in violent or injurious acts as a result. Recreational doses of the drug can also induce a psychotic state that resembles schizophrenic episodes which can last for months at a time with toxic doses.

[ubernerd35]

@sharperguy

Please don't even use marijuana and PCP in the same comparison.

[sharperguy]

Why not? Nothing I said made any implications about th effects of marijuana as compared to PCP, I simply said it doesn't make you grow dreadlocks.

[truevoice08]

Stef, are you an Austrian when it comes to economics?? A lot of people want to know

[zeusvalentine]

the USA has been printing and borrowing money so that the dollar will crash and we can benefit (like China does) by being an exporter again.

Rev up the old factories again boys!

Canada has been able to "compete" by having a low dollar for a long time. At this point, the Canadian dollar is so high that we can't "compete" with Americans...

Is competition solely dependent on a low currency?

[FreeMarketForces]

All the regulations restrict manufacturing. I agree the US can benefit low $ for paying debt & increasing exports. We have nothing (well not much) to export. It is sad that the stimulus is required for infrastructure jobs (Infrastructure should have been funded by gas tax, state taxes, among others). I support sound money and Austrian economics. I am against the mainstream view of inflation which is the devaluation of the dollar with the consequence of higher prices, especially on imports.

[StrafingMoose]

Man this podcast keeps getter better; even sound effects on Stef's voice at 10:30.

[tinosnit]

Bring back the video!

[stefbot]

u mean of me in the corner?

[tinosnit]

Yeah, it's cool.

[Nintendomanwill]

Exactly right. The level to which malinvestment clears after a 'boom' (which in itself causes falling living standards for those not profiting by the induction of investment into the glut sector like housing, teetering on the precipice of genuinely farcical overproduction) is PRECISELY REFLECTIVE of the level to which profitable investment and production in other sectors has been deficient. Therefore the number of malinvestor bankers going bust signifies how much living standards were falling.

[Nintendomanwill]

And how do gluts gain traction without investors perceiving diminishing returns in that sector? Because INFLATION muddies disrupts intersectoral, relative prices and in order to fund social democracy's Ponzi schemes and Trade Union wage extortions governments had to usurp the banking sectors, let them embezzle gold specie by force of law, and to inflate with impunity no matter how much it distorts calculation of profit signals that would induce sustainable investment if not for fiat inflation.

[a4finger]

great video

[dingerness]

Stef- Do you think it is likely that within another decade (or however long it takes for the "ship to sink") that the public can be educated enough to accept a brand of free market anarchy? Or is it more a moral duty to try to educate the public regardless of outcome?

[Loathomar]

So where was all the inflation from the increase in money supply? How long did you expect the job growth when the employment got close to 100%? When employment was at 97-98% the employment growth rate could only be (2-3%) + number of new people - number of people leave the work force. So, saying we had a 20% employment growth rate requires either a current employment rate of below 80% or a massive increase in people join the work force.

The dieing breath of the US will be hyperinflation.

[andrewh817]

The size of the public sector is almost inversely proportional to the size of the private sector.

[KraljevicPavle]

Hey Stef,

How would you describe whatever views on economics that you do have? I have heard a lot of Monetarist-type statements coming from you (eg. unemployment after money supply contraction, rate of money supply growth should follow growth of g&s, etc) but I have also heard you referring to Friedman as a bit of a joke and seen some Austrian-type arguments as well.

An illumination, please?

[PsyogiBottoms]

That is exactly what they want you to do. Take that Blue Pill buddy. Suck it down and forget.

[nonantianarchist]

Wow, now I'm depressed. Now I have to drink.

[asperin]

nonantianarchist:

Remember the "Therapy versus Cocaine" analogy made at the beginning of this video.

[Soundmind78]

RationalBullets-The reasons that would motivate a depopulation agenda are numerous. Here's a few: 1.) Fewer people to partake in revolution. 2.) Severe crisis lends the populace to manipulation 3.) Financial reasons are many, start with the age demographic - the baby boom is too big to support on social security. 4.) Globalist/Environmentalist agendas often call for drastic population reduction.

I don't read Stephen King. Debating method misses the point, the state will fight to stay relevant.

[Bernd1964]

That's the type of comment I always miss in the public media.

Great commentary indeed, 5 Stars for stefbot!

[Slug99]

Actually Stef, real wages for most Americans have either stagnated or declined since the 70s. Most of the economic growth has only benefited a small minority of owners who have lobbied the government for benefits cloaked as capitalism, while it's really just welfare for the rich.

[Slug99]

His point was that if you want to overcome a problem, there are ways which can help you in the long run where the analogy was that using drugs isn't something which solves your problems while going to therapy will probably help you much more.

[regresseur]

With PCP? Like using it to get that little "umph" you need to rape, stab and cannibalize your girlfriend? Or how about to cut all the skin off your head and feed it to your dogs, then stab and rip your eyes out?

[MRSketch09]

@10:29

I laughed my ass off... I liked that. Good way to wake up in the morning.

[Ape65]

All governments then to spend more than they rake in, but most eventually hit a fiscal wall where they are forced to cut back and clean up their finances before things completely collapse. This is what happened to Canada in the early 90's. Sadly and ironically for the US, since they are a superpower they were able to follow an unsustainable path much longer, and their crisis will be far more severe than what Canada went through 15 years ago. They may suffer a complete collapse.

[Ape65]

I thionk his point is that using drugs to alter your mood is artificial and unsustainable as compared to "real" happiness that comes from interacting with people you care about or doing interesting activities.

[ks100001]

For those who are interested in figuring out the rotten foundations of the current economic system, I recommend Chris Martenson's Crash Course.

The YT playlist is at view_play_list?p=7E8A774DA8435­EEB

That presentation taught me more about the economy than 4 years of state "economic" schooling.

Especially the stuff about compounding is pretty powerful.

[riseofatheism]

I wan't defending using drugs as an analogy; I just don't see why it's a big deal if he does. Why be so critical?

[riseofatheism]

May you please not be so critical of people that use drugs as analogies?

[Soundmind78]

Unfortunately, I don't foresee violence as being avoidable in the near term. In it's death throes the American State will wretch. Killing half the populace would give room to grow and reinforce the status quo. Vaccines any one? Once the current incarnation is kaput, power plays will be made for the vacuum, dictatorship will be attempted. Achieving anarchy, or even thin Libertarianism, in the face of these forces will require nothing short of global epiphany. Let's hope its spread is hyperbolic.

[VisitingXenoc133]

I'm currently an unemployed adult (almost), I'd love more then anything to work at a bookstore and save up for higher education but since there is almost no work anymore I don't think I will be able to find much at all anywhere.

[HymerSchmidt]

Play by their rules: get cheap loans, take financial aid. They're going to tax you for it later. I call it forced, reverse-savings.

I've gone to school on saved money but I regret it. I've essentially handicapped myself when compared to other students. I will be paying for school twice over: once through tuition costs and again through taxes.

[PsyogiBottoms]

Or give in and work for the state. lol They'll pay for your State Education - I can't say how much 'higher' it will be, or even truthful, but that's how the fly paper works.

When we all work for the state, and the state owns us all, we'll be watered, fed, let out to potty, etc.

Otherwise, you're like a real free human being that will have to find a way on your own. It can be done, I did it, millions have. But its much easier to just take the Blue Pill and forget about it.

[dabruin2]

One should hope more listen to this message and come to this resolve.

[PsyogiBottoms]

I'm afraid this is all a fallout over the "Greed is Good" mentality of the late 1980's.

I think we have all learned by now - Greed is Not Good. In fact it destroys your country and your society. Well, time for something completely different, eh?

So, Steph, in a non-violent or government way - How do we transition? What is the INSTRUCTION, other than - 'See it was bad.'

What can WE do to start changing our world and our local economies to reflect our New Values and New World?

[Soundmind78]

This phenomena is much older than the 1980's. Statism and it's attendant ideologies are as old as history records (pharoes?) In the American tradition comment can be made about the the ratification of the US Constitution (did you sign that contract), the Whiskey rebellion, the "Civil" War, etc. But the real coup de grace of centralized corruption came with the Federal Reserve.

Ultimately it's a psychological issue, daddy issues. Stef has tons of material on alternatives, check his site.

[PanzerDivisionBOM]

"I think we have all learned by now - Greed is Not Good."

Greed is an omnipresent phenomenon in human action. The first chapter of Market for Liberty touches on this. Basically, all living things must pursue greed to some degree in order to survive, and thus altruism as virtue is inherently self-destructive and hypocritical.

Once we know what greed is and how it works, we can predict a wide range of behaviours in human beings, see "praxeology", allowing for productive economic cooperation.

[ALittleBitPregnant]

Statism as a philosophy is dead? I hope so! Great video-5 stars

[MRSketch09]

@2:24

I have hopped jobs, this is my own fault.

But as far as money goes, I can honestly say it has felt like an uphill battle ever since I graduated highschool as far as getting anywhere money wise.(Because of inflation) And thanks to the federal government my raises were ate up due to the minimum wage increase, my buying power was neutralized, and the only one who actually benefited from that was the local,state, and federal government. Ugh, it makes me sick...

Great video though.

[utubehayter]

Stef, did you call women cows around 9:30? Hehe...  just kidding, but you will make some people angry.

[nathanjonessr]

What are your thoughts on violence as entertainment, aka cooperated, voluntary violence. UFC, movies, video games, etc. I enjoy watching a good bloody fight, and after one has gotten beat up, the stand up pat each other on the back and shake hands and they go cash their checks. is this violence a vice?

[ganymedic]

Just a question. Who do you think listens to your podcasts and watches your videos? Factory workers? I don't think so. The reason manufacturing is getting smaller is because it just doesn't belong in a modern service-oriented economy, which mind you is also good considering that the people who do those jobs need skills that are don't need a high level of analytic thinking.

[ascii7085]

The shift to services sector may not account for all of the losses.

Also there have been dramatic gains in productivity due to technology. While jobs have been lost, they are not all being shipped over seas, they are being replaced with technology and better ways of doing things.

Though I'm not an economist either.

[sovereignself]

i fear the 'solution' will be to create a new state

[RobertChavis]

Reason number a million why I am against government. I am proud to be an anarchist.

[moshe88]

Careful, now. Anarchism can lead to Monarchism. All you need is a small group of people, a king or, more accurately, gang leader, and some knights, or, more accurately, hired thugs, and BOOM, Monarchy. How do you think it got started in England?

[MengersDisciple]

moshe88-

From wikipedia's page on Anarchism:

"Anarchism is a political philosophy encompassing theories and attitudes which consider the state, as compulsory government, to be unnecessary, harmful, and/or undesirable, and favors the absence of the state (anarchy.)"

[sburns5689]

Thanks Stef. These Economic video's have been very informative.

[whiteire]

why did you not include military jobs? the spectrum of employment sectors seems glaringly incomplete.

[j0nathanbs23]

5:30

Fifth one from the left believe it or not.

[PanzerDivisionBOM]

Military jobs should count as negative jobs, since military employees are paid to destroy value instead of creating it.

[ascii7085]

Many, if not most, government jobs destroy value.

[PanzerDivisionBOM]

Y'know, I actually got to thinking about that just now.

Say they just stole a fixed percentage of everything that is produced, and destroyed the loot. It's no more or less immoral, it wouldn't mess up price signals as badly, or prevent innovation, or destroy the lives of people abroad. No one would be rendered dependent, either.

Thus, we find that regular theft or destruction of property of any given magnitude is actually less damaging than state intervention of an equal magnitude.