Worse than the Great Depression

Worse than the Great Depression. Former head of Goldman Sachs gives his opinion on the current crisis.

Category:

News & Politics

Tags:

• Obama
• economy
• schiff
• ron
• paul
• bush
• economic
• crisis
• congress
• capitalism
• dollar
• stock
• market
• bailout
• wallstreet

[tubeyou9878]

This next depression the rich must pay with their businesses destroyed. It's time to make others pay instea dof poor people all the time. Poor people could figure each Cop killed would probably ge tthem $500 in cash. A business man might have a few thousand.

[jjrglobal]

@tubeyou9878

You stupid piece of shit the poor have never paid for anything, how could they? They have no money. The businesses you want destroyed are the same businesses that provide the goods and services that ALL of us rely on to live. How bought we just kill you and people like you for freeloading? You fuckin bum

[FGTBOGSAT]

Watch the Peter Schiff videos. He has been pretty accurate in economic forecasting.

[libertyeconomics]

This guy misses the point. The promiscuous lending is a SYMPTOM of the Fed pumping "liquidity" into the loan market.

[tubeyou9878]

@jjrglobal yeah.and.those.same.businesses­.that.push.for.war.to.make.mon­ey.Theones.that.make.anything.­that's.used.in.war.Those.shoul­d.be.destroyed.

[uzijohn]

@tubeyou9878,

I could tell exactly "who you were" by the ignorance and stupidity of your comment!

Time to put down the keyboard, go get some "Malt Liquor" and leave the thinking to those better equipped.

[tubeyou9878]

So the rich go bowling, and the rich go to all the stadiums and ball parks? The rich number maybe 1% of the population. Sure they spend money, but they are concentrated. The rich aren't spread out everywhere. Most of them live in the cities. The poor buys all the gas, fast food, clothes, cars and most just want to get by. Poor people only need a garden and gun to go hunting, maybe fishing pole. The rich need huge sums of cash. If the poor quit going to the movie theater and watching TV

[lennhart]

@lennhart Moreover, the long term effects of the GOP policies of Reagan, Bush and Shrub have resulted in the FACT that China, literally, OWNS OUR ASS! Check the CIAs own World Fact Book. CHINA with whom Bush, in advance of Nixon's cermonial trip, laid the groundwork for what has come to pass, i.e, CHINA is atop the CIAs list with the WORLD'S LARGEST POSITIVE CURRENT ACCT BALANCE. Guess what: the U.S. is on BOTTOM with the largest NEGATIVE C.A.B., formerly called the balance of trade defcit.

[lennhart]

@jjrglobal Check econ 101. Wealth is created ONLY by 'work'. Every major economist form Marx to Milton Friedman are agreed on this point. Declines in GDP are --by definition --DECLINES in work. Check the vast stats available at the Bureau of Labor Statistics, the U.S. Commerce Dept - B.E.A. and the Census Bureau: EVERY DEMOCRATIC ADMIN SINCE WWII as presided over greater job growth and GREAT GDP gains than has ANY GOP administration since World War II.

[jjrglobal]

@lennhart

I think you give the presidency far more economic power than it actually has. A president in office cant effect the economy to the degree that you believe he can. Look at the crisis we have today, you can date the problems we have all the way back to FDR and his idiotic Fannie Mae, or even to Woodrow Wilson and the creation of the Fed. It takes years or decades for policy to effect the real economy, unless you do something stupid like scare the hell out of employers with uncertainty.

[jjrglobal]

@lennhart

Only an idiot would believe that wealth trickles up. Poor people dont typically employee anyone. Poor people aren't responsible for economic growth. Unless you get a check from the government I dont see how the government stealing money from the private sector can possibly benefit you.

[jjrglobal]

@lennhart

Wealth is not merely transferred from one class to another, wealth is also created. The important part of your statistic that you leave out is that even though the gap between the top and bottom may have grown, ALL classes have increased their wealth. You would rather everyone get poorer so long as it decreases the gap, where as I would rather the poor get richer as the rich get richer, even if that means a bigger gap between the two, everyone is still better off.