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[emy1968]

this guy speaks simple and clear, the opposite of our complicate false intellectual european politics!

[holdenc96]

I've been following this channel for about a year now, and I've NEVER seen these seats filled to at least 50%. Does ANYONE attend these damn meetings? Is he the only European who cares about his job?

[BasilFawlty4444]

@XpEAnUTBuTtERsUckSX Is that all you can come up with?

Isn't the inability for the middle classes to get mortgages an even bigger problem for the economy now? You can hardly blame Bush for passing that law, and if you ask me, the problem lies more in the overvaluation of the properties, not the government.

[XpEAnUTBuTtERsUckSX]

@BasilFawlty4444 There was a bill that George Bush signed which forced banks to make risky mortgage loans to house people that couldn't afford it, also if you recall Fannie Mae was a government sponsored company. The easy credit system the Federal Reserve allows is one that creates the perfect environment for business cycles, they pumped massive amounts of credit into the major banks that held the collateralized debt obligations (mortgage securities) propping them up.

[BasilFawlty4444]

@XpEAnUTBuTtERsUckSX Keynes certainly did believe in government saving while the economy was providing for itself. But only with the aim of ultimately spending this money in a bust.

And when has government spending caused a bust? The recent recession was caused by Americans not paying their mortgages. The 1929 crash and depression was as a result of the stock market.

But it is true, that Keynes thought the average person should spend what money they had rather than saving.

[XpEAnUTBuTtERsUckSX]

@BasilFawlty4444 Austrians believe in saving, due to their apposition to fiat currency and governmental expenditure to falsely and temporarily stimulate the economy, a commodity backed currency is also usually adopted.

[XpEAnUTBuTtERsUckSX]

@BasilFawlty4444 You are most certainly talking out of your arse, Keynes discourage saving as his whole philosophy is based on massive amounts of stimulus spending when there is slow economic growth ( a "bust", please note that it is government spending which ironically causes the "bust" in the vast majority of cases). Keynes essentially believed in spending, it doesn't matter who does it, or on what, but spend to keep the wheel turning.

[BasilFawlty4444]

@thekoollemon I think Keynes was talking about the government saving up in good times and spending in hard economic times, in effect shielding the economy through the dip.

In terms of the average person, I believe he referred to money as "a store of value" and couldn't understand why people didn't spend it. This is one of the few areas I don't completely agree with him on.

[thekoollemon]

@BasilFawlty4444 but this is not the nature of a government with a central bank. Keeping interest rates low encourages long term spending, largely housing. This gives the consumer a false notion that they have enough money to pay down the mortgage, but will only be able to afford it in the short term because their purchasing power will be diminished by the time everyone else who can't afford a house will now own a house.

[simpleasLiam]

@86austinc86 ... on a european post ... why on earth are you telling us to vote ron paul? should you not have posted it on a US election video ...

[TheWhiteDevil1612]

@simpleasLiam Actually, he's Peruvian.

His father was an Irish immigrant to Peru, and his mother a local. Hispanic, though, not Inca.

He moved to Britain when he was 10. Hence the accent.

And, continentally, the UK is in the continent of Europe, in the same way Bermuda is in North America. The UK can still be an independent state without having to deny which continent it's in, like you clearly want to.

[simpleasLiam]

@holdenc96 he's british, not european ...