Skip to main content

With all this talk about the fiscal cliff coming up, I wanted to share this video. I encourage everyone to watch and share it as well.


Tags

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

  •  Definitely the most entertaining explanation (2+ / 0-)
    Recommended by:
    ThatPoshGirl, DvCM

    "Gentlemen, you can't fight in here! This is the War Room." - President Merkin Muffley

    by Farkletoo on Fri Nov 09, 2012 at 09:58:17 AM PST

  •  Another, less antic perspective. (2+ / 0-)
    Recommended by:
    ThatPoshGirl, DvCM

    We organize governments to provide benefits and prevent abuse.

    by hannah on Fri Nov 09, 2012 at 09:58:52 AM PST

  •  This guy is much too (4+ / 0-)

    sensible to get much media play. Send the link to Stewart and Colbert.

    Yesterday's weirdness is tomorrow's reason why. -- Hunter S. Thompson

    by Mnemosyne on Fri Nov 09, 2012 at 10:05:08 AM PST

  •  Close, but no cigar. (4+ / 0-)
    Recommended by:
    ThatPoshGirl, jellyyork, Ian S, DvCM

    A lot of what he says is true and if everybody believed everything he said we would be better off as a nation because the level of hysteria would be a lot lower.

    But he ignores the importance of being a sovereign nation with its own currency. There is a whole school of thought based on this idea and it makes sense. We are in a much stronger position than we think, and we need to give up the idea of debt altogether.

    There is some basis that supports his saying that printing dollars to pay our debts could be done, but it would cause inflation. That is an argument that seems to have some historic evidence, but only in countries that were in completely different circumstances from us, such as the losers in WWI who tried to pay off their war debts to the victors by printing money. Inflation, hyperinflation, did ensue but that situation does not apply to us at all. We have no one holding a gun to our head.

    So, drop the idea of government debt. Forget about it. Go to sleep and wake up in a new world. The thing that we should be worrying about is getting all the money we will need to deal with global warming, paying for Medicare, Medicaid, and Social Security, and all the rest of government services. The answer lies before us: we can just print it as needed.

    But there will be many important people, including many economists, who will always try to block progress, but if we want to have air to breathe, safe food, safe water, if we want to be able to take care of the ill and the old, if we want to build a better world, then we need to shed this antiquated form of economic thinking and print money. It ain’t rocket science and it comes a lot closer to being real science than the current economic theories that dominate our national conversation.

    Might and Right are always fighting, in our youth it seems exciting. Right is always nearly winning, Might can hardly keep from grinning. -- Clarence Day

    by hestal on Fri Nov 09, 2012 at 10:15:26 AM PST

    •  Much of what the guy said was reasonable... (2+ / 0-)
      Recommended by:
      hestal, ThatPoshGirl

      especially compared to the "experts" that spew their garbage on the MSM. However, "printing money" in today's weak economy is not going to lead to inflation anytime soon if ever.

      Far too many folks make the mistake of thinking we're in the same position today as we were before Nixon took us off the gold standard - that we can't have deficits and a large debt will force us to go "bankrupt." A sovereign nation like the USA with its own fiat currency can never go bankrupt. It just can't! When you hear anyone spouting such nonsense it's proof that they either don't know what they're talking about or they're trying to con you.

      Just another faggity fag socialist fuckstick homosinner!

      by Ian S on Fri Nov 09, 2012 at 10:57:34 AM PST

      [ Parent ]

  •  Off topic question... (1+ / 0-)
    Recommended by:
    ThatPoshGirl

    I am about to publish a book and I would like to put a video on my web site. I like the one on this diary. What kind of camera and editing software would I need to do a good job?

    Thanks.

    Might and Right are always fighting, in our youth it seems exciting. Right is always nearly winning, Might can hardly keep from grinning. -- Clarence Day

    by hestal on Fri Nov 09, 2012 at 10:16:50 AM PST

  •  Our currency has been arrogated by our legislators (3+ / 0-)
    Recommended by:
    ThatPoshGirl, hestal, Its a New Day

    as an instrument of subordination. It seems that our legislators, perhaps by tradition or sheer stupidity, conceive of themselves as rulers, rather than stewards of our common resources and assets.
    Actually, since the participation of the people in governing was restricted for a long time by custom, law, secrecy and connivance, the perception of law makers as rulers is not surprising, but it is, nevertheless, wrong. Our legislators, especially Congress, are tasked with stewardship of our resources and assets. But that, it seems, is a lot of work, so there's been a recent preference for focusing on the population and directing their minutest enterprise. Libertarians have reason to be resistant. The country is going to hell in a handbasket because our representatives are fixated on telling us, their masters, what to do, instead of doing their jobs.
    If we don't notice this perversion, it's because the Congress has been successful in blaming the executive, the courts, lobbyists, private corporations and Wall Street financiers and perpetrating their suppression behind the veil of money and the law.

    We organize governments to provide benefits and prevent abuse.

    by hannah on Fri Nov 09, 2012 at 10:21:28 AM PST

  •  Good points in the vid (4+ / 0-)
    Recommended by:
    ThatPoshGirl, hestal, jellyyork, Ian S

    Also--

    --There is no constitutional requirement for a debt limit.  That is strictly a law passed by Congress, and it can be repealed by Congress.  Do away with the debt limit law and do away with the debt limit circus.  The amount of debt is determined by the appropriation and spending bills that Congress passes, not by the debt limit bill.

    --National debt can rise forever as long as it rises more slowly than the rate of rise of the economy.

    •  Excellent points! eom (0+ / 0-)

      Just another faggity fag socialist fuckstick homosinner!

      by Ian S on Fri Nov 09, 2012 at 11:00:23 AM PST

      [ Parent ]

    •  But the economy can't rise forever, (1+ / 0-)
      Recommended by:
      JeffW
      National debt can rise forever as long as it rises more slowly than the rate of rise of the economy.
      because it's a finite world.  The economy still has some room to rise, particularly if it's powered by renewable energy, but in the long run the economy will need to become steady-state.  

      Renewable energy brings national global security.     

      by Calamity Jean on Fri Nov 09, 2012 at 03:55:51 PM PST

      [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site