Fish don't use money!

Animals are concerned with many of the same things as humans: they need food, shelter, security, mobility and pretty much strive to live productive and stress-free lives, just like people. However, animals don't use money. Money is a human construct and it has gotten us to think the wrong way about many things in our lives. Mike Norman says, "Stop thinking about the money!"

Category:

Education

Tags:

• money
• US deficit
• money supply
• mike norman
• michael norman
• peter schiff
• debt
• economy
• economics

[christo930]

Can you explain why we are running at such low capacity? Like you pointed out, we have labor and capital. We have one of the best educated workforces in the world and yet we have all this unemployment and if you notice, all the high technology is leaving the US. Even our space program is falling behind. The newest particle accelerator isn't in the us, the ISS becoming more I than US, the latest bullet trains are somewhere else... We are clearly declining.

WHY IS THAT!?!?

[mikeydoggy]

My best guess is that we are afraid of deficits. There are four components to GDP: Personal Consumption, Biz Investment, Government and Net Exports. The fastest and easiest way to raise output is to raise the first three--but that would entail higher deficits, because you'd need to cut taxes significantly (on individuals and businesses) and/or ramp up gov't spending and investment. Those 3 components are 87% of GDP. Exports are 13%. To grow by exports you'd have to literally trash the dollar.

[christo930]

The US government doesn't produce anything, why do we want them spending? Gov spending may employ us, but it doesn't give us anything to buy. Just imagine what all the men in the military could be producing for us if they weren't digging ditches and filling them back up! Look at the wasted manpower in the police! We need SOME police, but not all the police we have. Same for military. Why would biz investments create deficits?

[mikeTaKEitDoGGYstYle]

utter rubbish, every word. analogy of fish?

[levine96629]

Mike Norman appears to suffer from an identity crisis. Five years ago, he appeared on TV dressed in suit and tie. Recently, he appeared several times wearing informal dark T-shirt. This video has him appearing with leather and shades as the cool guy incognito. There's something unsettling about his rapid and numerous metamorphesis. I hope is not evidence of anything organic.

[thiscreepingmalaise]

this guy is a total moron. I wonder if he has the mental capacity to see all the dislikes on his stupid vids.

[ImAud1]

WHAT ARTIFICIAL LENDING STANDARDS ARE YOU TALKING ABOUT!!!!!!?????

[thenanook2]

after this video i get you are a complete wreck.... dude you are not 20 years old, you are not only wrong on economics you are complete clueless about verything....

[caltrop69]

Those are cool shades. I want a pair.

That's capitalism.

[ulysseinvest]

@christo930,

You know what, I am totally with you on this point. Definition being one thing, I wish someone had the balls to simply walk up to where the gov guys compute the GDP numbers and see how the f* they do it. Hedonics and stuff - all in all GDP is surely NOT a number you want to base any metrix of valuation of a country's economy. Overall savings (rate) maybe. Debt, why not. Anyway, GDP only gives you one half (assets) of the balance sheet (doesn't give you info about liabilities) so...

[christo930]

That much I know isn't true, at least not in the US. For one, trillions of the GDP is imputations (made up transactions), then there is hedonic adjustments which even if they were right, would cause double counting and then there is the fact that much of what is sold in the US is imported and not produced by us.

[ulysseinvest]

@christo930,

If a "product" (good and/or service) is used by somebody to be invested towards some other project, it's an investment. If it's just bought and consumed then it's consumption. A 20,000$ car built goes into "C" if I buy it for leasure. Same care goes into "I" if a taxi driver buys it. A building goes into "C" if I buy it to live in it. Goes into "I" if a company buys it to use it as an office. Don't know if this answers your question. There was 14T worth of "stuff" built last year.

[ulysseinvest]

@christo930,

Wrong, 14T of GDP means 14T worth of stuff produced. Say we're a group on an island. I'm the only one working. And I fish. Say I fish 10 fish a day - total GDP of the island is 3650 fish a year and say we eat it all then GDP is 100% consumption. Say however the following year I give you 3650/2=1825 fish for you to build a house, then we've used half the fish to invest, at which point GDP = 1825 fish + 1 house (consumption) + 1825 fish (investment). Total GDP = 3650 fish + 1 house).

[ulysseinvest]

No wonder the whole planet is totally lost and screwed today with respect to where the economy really is. We've been listening to this kind of stuff for how many years now...

Please Mike, too many youngsters out there for me to not intervene, please, change business, please, find yourself a new career, you could teach hockey, or start a surf shop... it hurts us all to see you damage this planet like this... you've tried, we all appreciate the effort, but this is not for you... please...