Debt is Wealth

2009-02-17 11:05:31

#1

ATG: Banned; +5,233|6832|Global Command

Watch the sneering smirk and know-it-all abandon. Jesus, the reporter is annoying but listen to what this politician is saying. This video explains the thinking of some of those in power right now. I can't believe he believes what he said.

Every dollar we spend is borrowed money.
You don't understand economics.
Why don't you shut up for a minute.
Get out.

2009-02-17 11:14:07

#2

Scorpion0x17: can detect anyone's visible post count...; +691|7069|Cambridge (UK)

they're both douches.

the interviewer for not making his point intelligently.

the politician for acting like an ass.

Spoiler (highlight to read):
oh, and they're both kinda right (it's all to do with whether you take the short term or the long term view)

2009-02-17 11:33:19

#3

Ioan92: Member; +337|6025

I think he is kinda right about Debt=$=Debt.

Should also watch the whole movie, its pretty interesting.

And also, the end was hilarious.

2009-02-17 11:43:51

#4

Scorpion0x17: can detect anyone's visible post count...; +691|7069|Cambridge (UK)

Ioan92 wrote:
http://www.youtube.com/watch?v=6YurhFvPy14

Should also watch the whole movie, its pretty interesting.

What's the title?

2009-02-17 11:53:50

#5

Aries_37: arrivederci frog; +368|6878|London

Scorpion0x17 wrote:
Ioan92 wrote:
http://www.youtube.com/watch?v=6YurhFvPy14

Should also watch the whole movie, its pretty interesting.
What's the title?

zeitgeist addendum.

I.O.U.S.A is pretty good too.

2009-02-17 12:27:43

#6

JahManRed: wank; +646|6931|IRELAND

Interviewer sucks. He is being a pragmatic ass. Asking hypothetical questions. Trying to tie the politician up, trying to trip him up. All a stage show to him. He has done the cause of reforming the self perpetuating debt economy he is so concerned about, no favours either. TWAT.
I would have thrown the fucker out the window.

zeitgeist is 50% shit mixed with 50% of truth. Still worth a watch.

2009-02-17 15:17:17

#7

Macbeth: Banned; +2,444|5889

lol University of Puerto Rico.

Ioan92 wrote:
I think he is kinda right about Debt=$=Debt.

http://www.youtube.com/watch?v=6YurhFvPy14

Should also watch the whole movie, its pretty interesting.

And also, the end was hilarious.

I love how they mention Andrew Jackson taking out the Second Bank of America but not mentioning the Panic of 1837 and the depression that followed it.

Last edited by Macbeth (2009-02-17 15:25:31)

2009-02-17 16:17:35

#8

Turquoise: O Canada; +1,596|6708|North Carolina

Pete Stark is, sadly, the only openly atheist member of Congress.

And yes, he manages to give atheists a bad name with his pathetic temper.

This Jan guy is kind of annoying, but he's basically right. Stark seemed to be having a hard time coming clean on the fact that the government basically just creates money whenever it feels like it. If Stark has any problems with that, yeah, I have an economics degree.

2009-02-17 16:40:55

#9

Freke1: I play at night... mostly; +47|6850|the best galaxy

If every dollar note is borrowed then it belong to the Federal Reserve Bank even though You may be holding it.
Anyways I knew that. There are a few videos around talking about the US monetary system.
Zeitgeist is great though.

https://bf3s.com/sigs/7d11696e2ffd4edeff06466095e98b0fab37462c.png

2009-02-17 16:44:38

#10

Aries_37: arrivederci frog; +368|6878|London

The politician is essentially explaining the US government's logic behind it's policies for the last few years (ie Bush administration). In theory there is nothing wrong with foreign borrowing as long as it is for the right reasons, as thanks to the borrowing the fed window stays open and the economy is stimulated. However in reality what has happened is instead of strengthening the economy all the extra money from the low interest rates and increased borrowing is being used to consume more and more. Americans have an incredibly high standard of living but they don't do the right things to support it. If something isn't done about the trade and budget deficits or your country's net savings aren't increased then it won't be long before noone will lend to you and you will only be barely capable of paying off the interest on the debt you have built up.

He sounds stupid now in hindsight but few people were complaining during all those tax cuts and when all those medicare bills got passed.

2009-02-17 17:15:02

#11

Turquoise: O Canada; +1,596|6708|North Carolina

That's a good summary, Aries.

If we keep increasing the money supply, the dollar is gonna tank.

I think Euro might end up as the world's favorite currency soon.

2009-02-18 06:31:21

#12

Flecco: iPod is broken.; +1,048|6968|NT, like Mick Dundee

Aries_37 wrote:
Scorpion0x17 wrote:
Ioan92 wrote:
http://www.youtube.com/watch?v=6YurhFvPy14

Should also watch the whole movie, its pretty interesting.
What's the title?
zeitgeist addendum.

I.O.U.S.A is pretty good too.

Just Zeitgeist actually. Addendum refers to the addendums made to it as events it predicts/alludes to unfold.

Whoa... Can't believe these forums are still kicking.

2009-02-18 08:19:49

#13

rdx-fx: ...; +955|6894

Debt is Wealth
War is Peace
We have always been at war with Oceania, not Eurasia

doublepluslaugh at both people in the video

Last edited by rdx-fx (2009-02-18 08:53:48)

BF2S Forums Debt is Wealth

Ioan92 wrote:

Scorpion0x17 wrote:

Ioan92 wrote:

Ioan92 wrote:

Aries_37 wrote:

Scorpion0x17 wrote:

Ioan92 wrote:

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