Comments by "Tony Wilson" (@tonywilson4713) on "Bloomberg Television" channel.

  1. AUSTRALIAN HERE with an outside observation. FIRST - I think your sentiments like others (and I can repeat this to those others) is spot on. I actually went to college in America and I can barely believe what this court has done. I did engineering but a bunch of my friends were pre-law and on many occasions they explained to me how the America system is supposed to work. This decision is nothing like anything they ever explained to me. SECOND - this is obviously a massive deal to the American people, but its also a massive deal to Australia as well as every other country America deals with including places like Russia, Iran, North Korea,.... etc. For countries like Australia, Canada, Japan, South Korea,.... America is our most important trading partner and our most important security partner. So its DOUBLY important that the person we have to deal with YOUR PRESIDENT is a reliable person. For everyone else there's the simple facts that America has nuclear weapons, is 1/4 of the worlds economy and the US Dollar (US$) is the worlds reserve currency. Do any of you realise that almost all international trade is either done directly in US$ or the currency exchanges are backed by US$? That's the real power America has in the world and for most of the last 75 years it has worked brilliantly and we have all benefitted except for those few times when America did something stupid like you did with the 2007-08 GFC and we all suffered. So its incredibly important to the rest of the world that POTUS is a RELIABLE and RESPONSIBLE person who is CONSTRAINED by LAW. P.S. I really do care about America. I had a great time there at college and want to see you back at your best.
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  2. AUSTRALIAN HERE with an outside observation. FIRST - I think your sentiments like others (and I can repeat this to those others) is spot on. I actually went to college in America and I can barely believe what this court has done. I did engineering but a bunch of my friends were pre-law and on many occasions they explained to me how the America system is supposed to work. This decision is nothing like anything they ever explained to me. SECOND - this is obviously a massive deal to the American people, but its also a massive deal to Australia as well as every other country America deals with including places like Russia, Iran, North Korea,.... etc. For countries like Australia, Canada, Japan, South Korea,.... America is our most important trading partner and our most important security partner. So its DOUBLY important that the person we have to deal with YOUR PRESIDENT is a reliable person. For everyone else there's the simple facts that America has nuclear weapons, is 1/4 of the worlds economy and the US Dollar (US$) is the worlds reserve currency. Do any of you realise that almost all international trade is either done directly in US$ or the currency exchanges are backed by US$? That's the real power America has in the world and for most of the last 75 years it has worked brilliantly and we have all benefitted except for those few times when America did something stupid like you did with the 2007-08 GFC and we all suffered. So its incredibly important to the rest of the world that POTUS is a RELIABLE and RESPONSIBLE person who is CONSTRAINED by LAW. P.S. I really do care about America. I had a great time there at college and want to see you back at your best.
    13
  3. AUSTRALIAN HERE with an outside observation. FIRST - I think your sentiments like others (and I can repeat this to those others) is spot on. I actually went to college in America and I can barely believe what this court has done. I did engineering but a bunch of my friends were pre-law and on many occasions they explained to me how the America system is supposed to work. This decision is nothing like anything they ever explained to me. SECOND - this is obviously a massive deal to the American people, but its also a massive deal to Australia as well as every other country America deals with including places like Russia, Iran, North Korea,.... etc. For countries like Australia, Canada, Japan, South Korea,.... America is our most important trading partner and our most important security partner. So its DOUBLY important that the person we have to deal with YOUR PRESIDENT is a reliable person. For everyone else there's the simple facts that America has nuclear weapons, is 1/4 of the worlds economy and the US Dollar (US$) is the worlds reserve currency. Do any of you realise that almost all international trade is either done directly in US$ or the currency exchanges are backed by US$? That's the real power America has in the world and for most of the last 75 years it has worked brilliantly and we have all benefitted except for those few times when America did something stupid like you did with the 2007-08 GFC and we all suffered. So its incredibly important to the rest of the world that POTUS is a RELIABLE and RESPONSIBLE person who is CONSTRAINED by LAW. P.S. I really do care about America. I had a great time there at college and want to see you back at your best.
    9
  4. Larry Fink loves one thing - His way. On MMT I am reading Stephanie Kelton's book "the Deficit Myth" and she makes the very basic point on deficits. If a government (any government) spends $100 and taxes back $36 then there's a deficit of $64 fine. She asks: WHERE'S the $64? It can't just vanish it has to be somewhere, bank accounts, stocks, assets, whatever. Its just can't not exist. So the real questions are: Who's got it that $64. What are they doing with it. More importantly what did the government get for that $64? Did they get something that benefits the economy or the general population or did the government just benefit SOME of the population. That's what Larry hates. MMT gets people to think about where the money ENDS UP and who benefited
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  5. Agreed I've watched a bunch of here talks. The first time I saw her I thought she was nuts but then did a podcast with Mark Blyth on her book "The Deficit Myth" which I finally got a hold off and have just started. I liked how she started with admitting that even she thought it was nuts until she hit the question "where does the money go?" I'm an engineer and I like the logic of what she's saying which is why people like Larry Fink hate MMT. As she says in the government spends $100 taxes back $90 then there's a $10 deficit. She asks where's that money and what did the government GET FOR IT? That's what Larry hates, he doesn't want people to know where that money is or who's benefiting from it.
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  6.  @bobkoroua  You are 100% on target. Consider just 1 thing - Climate change is a massive task and without America and its technical capabilities and wealth to make things happen the task becomes monstrously difficult. Imagine trying to fight a war and 1/4 of your army just walks away and its the 1/4 with the best equipment. AND THAT DOES NOT MEAN we should sit back and wait for America to do something. That's a major part of the reason the world is a mess. Everyone has to do their part.
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  7. Larry Fink loves one thing - His way. On MMT I am reading Stephanie Kelton's book "the Deficit Myth" and she makes the very basic point on deficits. If a government (any government) spends $100 and taxes back $36 then there's a deficit of $64 fine. She asks: WHERE'S the $64? It can't just vanish it has to be somewhere, bank accounts, stocks, assets, whatever. Its just can't not exist. So the real questions are: Who's got it that $64. What are they doing with it. More importantly what did the government get for that $64? Did they get something that benefits the economy or the general population or did the government just benefit SOME of the population. That's what Larry hates. MMT gets people to think about where the money ENDS UP and who benefited
    1
  8. Go watch his interview with Jon Stewart. Larry Summers has to be the most overrated economist on the planet and easily the most overrated economist since Milton Freidman.
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  9.  @carolynfarrington9351  No probs. And I really do want to see America get back to its best. Not only would it be good for all the friends I have there but it would be good for the world. Its not that we need America to deal with things like climate change and wealth disparity but those tasks just become so much easier with America onside and way more difficult if its not. There's a question Americans, like many others need to ask themselves right now: How do you want history to remember you? Being honest I don't think I'd like to read how history would remember Australia because it might read: Wasted their opportunities and got hijacked by assholes. We all need to do better.
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  10.  @judithwake2757  well summed up
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