Stimulus Plan Explained

In which John discusses the financial crisis, recessions, and the fiscal stimulus bill just passed by the US Congress and expected to be signed by President Obama. And John Maynard Keynes. Oh, and he brags about his Academic Decathalon bronze medal.

Oh and if you're wondering why I'm not talking about CEO compensation and corporate jets, it's because they aren't EVEN SLIGHTLY relevant to the health of the American economy.

For further reading: Mark Zandi (former McCain economics adviser): http://www.philly.com/inquirer/opinion/20090215_Imperfect_stimulus_plan_is_st...

Philosophical overview from the LA Times:
http://opinion.latimes.com/opinionla/2009/02/pelosi-reid-sti.html

p.s. Keynes's last words: "I wish I'd drunk more champagne."

Category:

News & Politics

Tags:

• economics
• stimulus
• bill
• overview
• recession
• jobs
• government
• desperately
• trying
• to
• raise
• the
• level
• of
• political
• discourse

[andrineslife]

I just failed economy.. this is depressing to hear, cause this is like everything I had to say in order to pass..

[alc99]

John -  Please educate yourself about Keynesian economics and google the Broken Window fallacy

[soulartistRiSK]

pause on 0:57 i did it coincidentally and it looked funny

[colinz226]

i think we should raise taxes on the rich, lower on the poor, and bring the jobs back to america

[epiccupcakethime]

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[alc99]

@LIGHTRONIX I see no evidence that he has read Frédéric Bastiat's essay from 1850 "That Which Is Seen and That Which Is Unseen". Reading books is good but living in the real world is better. Stimulus plans ignore the unseen reactions.

[LIGHTRONIX]

@alc99 also, he reads lots and lots of books, instead of watching youtube videos about economics.

[LIGHTRONIX]

@alc99 I think he's spent more time researching the subject than you.

[TheTubbtubb]

I hate it when people think we've had anything close to an "unregulated" financial system.

[ameteuraspirant]

no offense to you, but government spending is one of their great evils that they need to correct, all that money goes to the corrupt politicians, so tax breaks are good, more spending is BAD, the idea for circulation is the right one, but it doesn't work what with all the people ready to drain all that money out before it serves its purpose.

[RichardPapen1]

@RP4REVO

but you havent even got a degree. what do you think you can ever do? sweep the streets?

[RP4REVO]

You failed to mention how the federal reserve prints the money with nothing backing it causing more debt and a larger interest fee that will never be paid off, all our taxes go to pay off the interest on our gigantious trillions of debt. Nothing we do will work, the central banks cant keep printing money with nothing to back it, we're all screwed.