Steve Liesman - the gov't can help the private sector

[How can Mr Liesman still not think the US is in a recession? I'd love to see him and Peter Schiff go head to head. I do agree with his view that government intervention is the only thing propping up the economy though. When you are in trouble even the die-hard capitalist would expect the nation's leaders to help the citizens out as a matter of principle.]




(Presenter)
Since WW2 there have only been three times where that kind of equity market action (200 points in the Dow) has not indicated that we are in a recession.
Steve Liesman....are we in a recession?

(Steve Liesman - 1:34)
I don't think we are in a recession, I think today's job report told us we're not necessarily on the cusp of one. We did add 154,000 private sector jobs. We have been cutting back on government jobs and that is a near term negative for the market. There are those out there, and I don't necessarily include myself in there, who think reducing government jobs is a good thing. It is probably mutual depending on what is being cut. I think the Keynesian critics are missing the one thing that the government can do in the face of recession, which is hold back on its firing so that it doesn't occur at the same time as the private sector. Now we are having the private sector come back and we are having some more government firing. It's unclear how long it is going to last.

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[krillin876]

few people are entrepenuers , then and only then can you understand how cumbersome the government is, it took me till i opened my own business to understand this

[Cyrus255]

The free-market was trying to get RID of the parasitic leech we call banking.

It makes NO sense that the US has nearly as many bank employees as federal employees. Think about that.

[Cyrus255]

Steve Liesman was also used in a documentary that praised the bank bailouts.

The bank bailouts are simple. Banks, which produce no goods, were running out of people to leech off of. So the government took a trillion dollars of taxpayer money, and handed it to the banks so the banks can loan it to taxpayers with interest.

Think about that.

[Cyrus255]

This is the same Steve Lies man, who YELLED at Peter Schiff and denied a recession was coming, he said Peter was CRAZY to tell people to buy gold for $300 an ounce. Now it's $1,600 an ounce and Liarman can't even face Peter.

[Cyrus255]

You do realize his job description is in his name right?

Lies man.