On the Edge with Max Keiser (OTE 121) Inflationary depression

[stockholmer]

Run time: 23:05 https://www.youtube.com/watch?v=IMvQFkFRjtw   Posted on YouTube: September 03, 2011 By YouTube Member: GJT771 Views on YouTube: 301   Posted on DU: September 04, 2011 By DU Member: stockholmer Views on DU: 2214

 
In this episode of PressTV's On the Edge, Max Keiser interviews economist & author Paul Craig Roberts.

They discuss the current state of the US & Global Economies; ongoing illegal wars being supported by the Obama administration; fraudulent markets worldwide; & how we are spiralling into an inflationary depression.

"There are two ways to conquer & enslave a nation. One is by the sword. The other is by debt." -- John Adams, 1826

[RKP5637]

1. What is it that Obama and his crew don't get, or is this just the plan. Unbelievable. n/t

[boomerone]

2. This is the best explanation I have seen. By the banksters not

taking a hit concurrent with no jobs being created in the absence of demand for product, we are in a spiral that we cannot get out of. The only part of the theory I dispute is no mention of a short-term deflationary situation before the long-term inflationary spiral starts. That's Mike Maloney's position in his $20,000.00 gold scenario.

[bbgrunt]

3. excellent. PCRoberts is ultra lucid--as usual.

[soryang]

4. There is a policy to correct inflationary depression

It is called progressive taxation. Break up the great estates by increasing taxation. Force the corporations either to invest the money to gain the benefit of business deductions and investment credits or lose it to the government. The principle of progressive taxation is to move otherwise alientated capital, (that is capital alienated from real commerce) back into the real economy and away from the speculative financial markets.

End treating income in hedge funds as "capital gains" as they are not capital gains but ordinary income. Force the great "dark pools" of capital to disgorge their funds into the real economy of tangible commerce by increasing the taxes on them. Tax computer trading that only serves to inflate commodity prices. Ban trading in derivatives by those who are non stake holders in the underlying goods or contracts. Force derivative writers to establish reasonable reserves.

Tax global corporations on foreign earnings and end the Cayman island tax avoidance boondoogle by attributing income from foreign subsidiaries to the American domiciled parent corporation. Legislate constructive rules of income attribution to the American market principal who moves the profit offshore constructively while exploiting the American market where the real money is earned while paying no income taxes.

Go to medicare for all single payer health care reducing health care costs and the dead horse of health insurance on corporations, employers, employees and entrepreneurs. Heatlh insurance costs stifle new business formation, employment, consumer expenditures, business confidence, and capital investment.

Stop the useless and wasteful wars which balloon government deficits, increase inflation, impose opportunity costs and bloat the current account deficit.

[Lorien]

6. Sounds like an excellent plan to me!

:thumbsup:

[Quantess]

5. That was kind of funny in the last 2 minutes

Max Keiser was too cynical for the guest speaker, and kind of stumped him.

[pam4water]

7. Very good episode.