Comments by "Coreysaurus" (@ggadguy) on "Richard Wolff: Debt Ceiling Deal Going Forward" video.

@oolong2 Yes, many economists were talking about it, but I wonder if they predicted the housing when Bush tried to stimulate the housing markets. I like Bill Maher and watch him on HBO, and I'm sure he mentioned housing because Bill is a smart guy, but a lot of other people were in denial. The monetary system has a LOT to do with the government. Where did the "stimulus" come from? The Federal Reserve is private, but the head is appointed by the President and drastically effects the economy.
1
@oolong2 So if the government "system" is always corrupt, and we agree it will most likely be, should we as taxpayers give them more money or less? I say less. But I'd like to hear your ideas. You're right, we'll never have 100% free markets. But I advocate for FREER markets. In earlier years of our country, we did have freer markets in drugs and medicine, health care, business licensing, zoning, Federal regulations, etc. There are areas where markets and competition can improve our lives.
1
@oolong2 Yes, government will most likely interfere with markets, and businesses will interfere with government. Yes, it's been that way for hundreds of years. I agree. The job of the representative is to prevent the corruption, so we the people need to elect people who do the right thing. Unfortunately, they don't do the right thing and they have their special interests. I'll respond to your other comment in a bit,
1
@oolong2 The amount of money is totally relevant. Because the government uses that money for what they want to spend it on versus you. Maybe you believe a local charity needs more money, but instead that money may be diverted to something else. I'd rather have the money in the hands of the people instead of the politicians to decide. We are very powerful if we can make constant, local decisions about every issue instead of waiting for Washington.
1
@etzel33 Austerity is important when budgets are in the red. They should be in balance. Budget deficits can't continue forever otherwise countries will no longer buy our debt. And then we potentially face a currency crisis which would be 100 times worse than it is now. You can see this trend happening with a lower dollar and gold making new highs at $1650. I believe this will be the next big crisis.
1
@oolong2 Slavery isn't human liberty. That's something in opposition with my philosophy on how we treat people. The institution of slavery had been a part of the world for thousands of years, and in some respects freedom helped break that institution. And the peace and freedom philosophy would also translate to women, immigrants, the Native Americans and everyone to be treated and respected as an individual versus being a group.
1
@oolong2 The role of government should not be to interfere in markets, but to enforce contracts. So that when a contract is broken, then there is a role for our court system. And people can be as greedy as they want, but they can't outright steal from customers. Instead, the banks and corporations are stealing with the bailouts, TARP, welfare, etc. As far as money, there is nothing corrupt about gold or silver, since they can't be easily manipulated. That's why they call it "honest money."
1
@oolong2 To transform the poor into the middle class it will take years, as Obama correctly states. Over time, the poor can accumulate wealth buy purchasing homes instead of living in the projects. With no licensing laws they could own a business with little money down. With no zoning laws they could start a business in their home and don't need to rent another building. These are just a few examples to radically bring wealth to the poor. That's doing something, not nothing.
1
@oolong2 As far as the banksters, is it the local municipal banking industry that's bad, or is it the big companies like Goldman or JP Morgan that get massive bailouts? A lot of smaller banks didn't want the bailout, but they were forced to take it from the government. So you have to separate the big banksters who got the bailout and have insider deals with the ones that are local and smaller. My opinion on wealth is to allow the poor to accumulate it. Right now they have little opportunity.
1
@oolong2 Yes, the motivation for everyone is to accumulate wealth. That's why they influence government, because it's easier to extract money rather than work for it in the marketplace. I just heard how 40,000 lobbyists contributed $2.5 billion to Congress in 2010. Of course they are bought and paid for, which I am completely against. That's not free markets but crony capitalism or fascism, to be blunt. We should oppose corporatism and support fair, free markets.
1
@oolong2 If you look at how modern Indian reservations operate today, most Indians are in poverty, even though they've received government funds for many decades. You have to take a look at this video: watch?v=Y1Ey_g4wOnw I want the Indians to have dignity and be empowered versus how they are treated today.
1
@oolong2 I have several friends that are very poor. One friend of mine has to move back to Detroit with his mom because he can't find work here in Minneapolis. Another closer friend has literally $17 in his bank account. I just gave him some money to help him out. My sister-in-law has about $1000 to her name with no car. I know a lot of people who would do better if they kept their social security taxes, income taxes, sales taxes or were not hurt by inflation.
1
@oolong2 Do poor people need parks? Do they need the courts if they are honest people that do not cause problems? Do they need the emergency room if they're safe and healthy? All of these government programs cost money, and when money is diverted from the people it doesn't sustain and grow the economy. Bridges should only built as a result of economic growth, not building bridges to get growth. My unemployed friend isn't using bridges or parks, unless he becomes homeless soon.
1
@oolong2 Gold and silver in a physical form, from a trusted mint like the US Mint, Royal Canadian Mint, Perth Mint, and that's weighed is best. I don't trust silver from China or coins that do not include their weight or origin. There are also gold coins from Russia that are not pure. There's all sorts of information on the topic. If metals are not a standard in money then the money will continue to get manipulated by the banksters. Real money is tangible, that can't be manipulated.
1
@oolong2 Right now the poor can't accumulate wealth when there are so many barriers to wealth. For example, poor folks should be able to keep money passed down from generation with no tax penalties. Poor people don't generally receive SSI because they don't live as long like rich women. If they were able to keep that money they would be able to make a down payment on a home and own something rather than make landlords rich. We need to remove more barriers to wealth. What wealth do they own?
1
Yes, I agree with Thom that Republicans have spent like drunken sailors and they then call for "smaller government" but don't believe it. All they care about it POWER, just like the Democrats. Both parties are to blame for this. They both spend more and believe they should direct the assets. Government spending is what we should cut because then those dollars are out of the hands of people who do not create jobs or capital. Government only has short-term fixes. We need long-term solutions.
1
@oolong2 Attack the messenger and not the message. It's clear the Indian people have been screwed by the government in the founding of the country and now these modern day government projects. These reservations are just like "The Projects" in New York, which were and are an absolute failure, and don't allow the poor to own their own property and wealth. Same goes for the Indians. You should know by now that I'm opposed to the bankers, so I'd never say that. Don't put words in my mouth.
1
@oolong2 I agree. The international bankers and the big "Too Big To Fails" are always the direct benefactors from the Fed. However, the government still appoints the Fed Chair and still has influence on monetary policy. The Treasury Secretary, appointed by the President, also has a big role. Plus, there are some things the President and Congress can do to outside of the Federal Reserve to change our monetary policy too.
1
@psychokanuk I am going to guess that Richard Wolff didn't see the credit crisis or the housing crisis like Peter Schiff did in 2003. Peter eventually published a book in February 2007 called "Crash Proof: How to Profit From the Coming Economic Collapse". He was correct! I recommend people still read it because it still applies today.
1