David Stockman: Ben Bernanke is finished!

[Dokkie]

Run time: 09:52 https://www.youtube.com/watch?v=GHLjoAI2-iQ   Posted on YouTube: June 24, 2011 By YouTube Member: MrBernardLMadoff Views on YouTube: 1297   Posted on DU: June 27, 2011 By DU Member: Dokkie Views on DU: 1296

 
Jun 23 2011 MSNBC The Dylan Ratigan Show -- Former CBO director David Stockman and panel taks about the Federals Reservs acknowledgement of dissapointing growth, higher inflation and a weakening labor market.

[Dawson Leery]

1. kick

[PoliticAverse]

2. Bernanke isn't done yet, there's more money to give away... n/t

[JDPriestly]

3. But I think that Stockman too is missing the real problem.

American tax revenues are impossibly low at this time because big corporations and wealthy people don't pay their share and the middle class and poor are, as Stockman pointed out relegated to becoming masseuses and Pilates teachers. The lack of jobs is due to the fact that we have outsourced the good paying service jobs and exported the manufacturing jobs. The good service jobs and manufacturing jobs were the only ones paying workers enough to provide a good tax base for our state and federal governments.

But the fact that the recession of 2008 was a panic on Wall Street that was due entirely to their own poor management of their businesses and money is true in my opinion.

[fasttense]

10. I dislike Ratigan because he goes along with RepubliCONs of cutting taxes for the wealthy

at all costs. Did you hear him say the wealthy were OVER taxed? I shake my head in wonder.

But aside from that, his guest was claiming Obama was following Keynesian economics. When people say that, I have to wonder if they know anything about economic theory. Maybe all they know is "free" market theology.

[Cali_Democrat]

4. K&R

:applause:

[dkf]

5. Could we have survived Goldman, Morgan Stanley, Merrill, Citi, B of A, AIG, General Motors,

Chrysler, GE, all going down to $1 a share? How would they have recapitalized? All Saudi and Chinese money perhaps?

FDIC insurance only covered $100,000 at the time. That isn't enough to retire on.

[rhett o rick]

8. Stop with the corporatist propaganda. If they would have failed, so be it.

It was a ploy to steal money from the middle class and you support them.

[dkf]

12. Pension funds rely on corporations.

Without investments there is no such thing as retirement...unless you think all we need to live on is social security funds.

[Donnachaidh]

11. yes, we could have. Instead we bailed out the banksters that caused the problem

We aided and abbeted criminals and their criminal behaviour.

So what do we face now? Bigger, badder behaviour and an administration that hasn't the balls to say no to them next time.

[PoliticAverse]

14. That's why if you have more than the FDIC limit/bank you should spread the money among banks.

[WCGreen]

6. Unbelievably frank discussion that needs to be heard...

Stockman should hook up with Matt T over at the Rolling Stone to get the real message out and maybe we can start prosecuting these ass holes who took everybody else down while walking away with money bulging out of their pockets...

I have to admit, I have been skeptical of Matt T because quite frankly, his style often times overwhelms his message, but he has consistently called bullshit on some of the biggest bullshit artists in this country's history.

[Poll_Blind]

7. Very interesting piece- highly recommended to those who want to get some...

...alternative perspectives. Especially near the end, I was just shaking my head because Obama did exactly the opposite of what he was elected for. There is no Hope for us without real Change.

PB

[midnight]

9. I'm not sure why David Stockman is saying that no one was saying what was really going on?

I think Max Keiser has been waring us. Listen to some of his videos... We are being put on new currency grid... Most of wealth being taken out of the country...

Save America! US on slippery slope to economic collapse:http://www.youtube.com/watch?v=d-UUBTASHHU&feature=related

[JAnthony]

13. How's that "Supply Side" trickle down thingy working for you, David?

National debt 14 Trillion. When Reagan was is office it almost tripled.

These Republicans are all snake oil salesmen and women.