Pete Stark Blows Up Over National Debt

Watch Congressman Pete Stark blow up when Jan Helfeld asks him why Stark believes, "the more we owe, the wealthier we are."

Category:

News & Politics

Tags:

• national
• debt
• threats
• Helfeld
• Pete
• Stark
• congress
• democrat
• violence

[eminemdisstopia]

Some day if you shut up we can talk

How's it possible to talk if you shut up?

[janhelfeld]

@eminemdisstopia good point.

[independence4wales]

It should be law, every politician should be interviewed by Jan prior to being eligible to run for office. Lets sort out the idiots before they do some real damage!

[janhelfeld]

@independence4wales good channel comment, thanks.

[enjerth78]

Wealth is not fiat money. Wealth is in production. We don't increase our wealth by heaping up debt and having more money in circulation. Certainly that increases our wealth in nominal terms. But the value of that money is in decline, and so it buys less. In real terms, that money is used by the government to acquire products and services, both raising the demand (and so the cost) by competing (as a spender) in the economy AND driving the value of the dollar down (more rises in cost).

[georgetcr]

@OlympianPCs False. Money borrowed from banks, be it by people or governments is created by the banks on the spot for the loan. The principle plus x% interest is then owed back to the bank. This is the only way that money is created in our system, thus the total debt of a country is always more than the money in existence in that country. The more money in an economy, the more debt there is as well. These are the basics of our (crooked) system.

[mithars]

was he like crying at the end when he was cursing ? his voice changed a bit there ..

[kjakobsen]

Calling such keynesian nonsense economics, is a degradation of the whole economics field.

[evelsteev]

No wonder I'm a Libertarian. All these Dems want to do is spend spend spend and spend some more. What's it going to be THIS year? Another trillion? TWO Trillion? Holy crap, how does this guy LIVE with himself?

[OlympianPCs]

The worst part of all this: Pete Stark is still in Congress, representing California's 13th district. But hey, I probably "didn't graduate from a good enough college" to question his leadership. What a condescending prick.

[OlympianPCs]

@georgetcr

The money borrowed from private banks come from people who have money in savings. We pay interest on it. Or we borrow money from other countries, and pay interest on it. I agree that sometimes we need to borrow money in order to get capital to stimulate the economy, but we can't just bury ourselves in debt and expect to make wealth out of it. Real wealth comes from productivity. Sometimes we need to borrow money to stimulate that productivity, but debt alone does not build wealth

[OlympianPCs]

@georgetcr

So we're not allowed to question if there are any flaws in such a system?

[dyne313]

@eminemdisstopia That's how politicians have a debate. They tell you the "facts" and you say, great.

[Dehzee]

This guy was being pushed to share a simple truth they do not want simple Americans to understand. This guy had been trained in nlp and economic rhetoric and none of it was working so he flipped his lid. Great interview/expose

[gydur1]

What a tasteless and ugly office?

Is this all what these congressmen are offered?

Looks like an office belonging to a guy working in a banana import company...:)