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Watch the video here: https://youtu.be/L27N_I9Yg98?si=dGUDcG9IWG6k9LIw
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Matias Vernengo writes What is heterodox economics?
| Watch the video here: https://youtu.be/L27N_I9Yg98?si=dGUDcG9IWG6k9LIw |
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Elon is a fraud. He fakes videogame prowess for fucksakes! His only possible intelligence is tricking people into thinking he’s smart, and maybe swindling people (including government) out of their money.
Well, saying that the country will go bankrupt does betray massive ignorance…
This is great! Mike is losing his mind over the government becoming more efficient!
I think you missed what he's talking about.
@@Standupbarrel1 As if waste, pilfering, plundering and money laundering have no opportunity or societal cost.
@@Standupbarrel1 Is it though? His point is how do you measure that? If your not getting a tax break you don't even know if it's actually becoming more efficient.
@ You can measure it through inflation. Inflation is also a tax from government spending. The Fed actually targets an inflation rate of 2% every year. It is built into their system. However, the Fed does not control spending, that is Congress. The Fed only tool is interest rates. So if Congress out spends the ability of the Fed to control inflation with interest rates, we get rampant inflation, which is again a tax on Americans. The aggregate inflation rate from Jan 2020 to now is 26%. Unless you got a 26% pay raise over the last four years, you have actually lost 26% of your buying power due to government fiscal irresponsibility.
@@sg137iu89 @ You can measure it through inflation. Inflation is also a tax from government spending. The Fed actually targets an inflation rate of 2% every year. It is built into their system. However, the Fed does not control spending, that is Congress. The Fed only tool is interest rates. So if Congress out spends the ability of the Fed to control inflation with interest rates, we get rampant inflation, which is again a tax on Americans. The aggregate inflation rate from Jan 2020 to now is 26%. Unless you got a 26% pay raise over the last four years, you have actually lost 26% of your buying power due to government fiscal irresponsibility.
You need government fraud to pump those boomer bags. I'm done listening to this trash.
Trump is mentally unstable a day traders dream with his fucked up statements.
What did I subscribe to you Mike? Let me see now, you sitting in your basement are right. And one of the smartest and most successful visionaries the world has ever known is wrong. Along with a whole host of economists and fellow ultra successful entrepreneurs. Hmmm, I wonder.
Whether Mike is right or wrong depends upon the way the world actually is with respect to the money system. The fact that there is a rock outside my door is logically irrelevant. That Musk has certain properties such as being smart is also irrelevant because Musk, like the rock, is not a monetary system. Logicians call this fallacy an appeal to authority.
If the US Gov stopped paying interest on treasuries, it would go into default on its debt – the thing that you have always said is impossible. What are the other consequences of that action?
He's talking about changing the rules on banking and a process of eliminating treasuries. Why is govt creating/spending money to be used to pay interest to rich people? Especially, if it's not necessary for monetary system. What do WE the people get out of this govt program?
@@WarrenPeacenik A lot of normal people have pensions that include treasuries. What happens to them? I'm talking about the practicalities of it, not the morality (which mostly I agree with Mike about).
The tick screams, as it is removed from the blood supply. It says "how dare you stop the flow! There is endless supply you can create."
Elon Musk sucked out $400Billion worth of blood supply. But never mind all that.
@@djangogeek By building revolutionary technology nobody else could?!? But yeah, take away funding transgender plays and 🤬
The intent of the Musk/Trump administration is to crash the economy. It creates the environment where Project 2025 can be implemented.
I think he’s just talking about fairness. It’s not fair for some to receive free money and others nothing.
It's not free money! The interest paid is the reward a bond holder receives for the loan to the government. But you already know this ….
@3:00 insolvency from excess reserves to requirements??? It just sends the OCR to zero, that's all, at least down here in NZ. I did not think the USA had insolvency clauses for holding excess reserve balances? How does that work for you folks? The issue we have with zero OCR is people think that's going to be hyperinflationary for asset prices (so called "cheap money") 🤣
If you stop paying the interest on treasuries, then the government would have to give back the principle to the bond holders. That would be a $36 Trillion dollar payout. That would be awesome and very stimulative.
@@Heimir_the_Fool And very inflationary.
I want a video from Mike everyday ranting about the stupidity of DOGE. These vids are like a daily dose of sanity in this clown world.
@@djangogeek cutting wasteful government spending is now considered insane. This most definitely is a clown world!!
@ no one has a problem with cutting wasteful spending.
@ every liberal mainstream media outlet is screaming it’s a constitutional crisis. So yes, they do. They are having the corrupt piggy bank taken away.
I don't know who you are nor do I care but I watched your video and I think you made it perfectly clear who the idiot is…
Bingo, you hit the nail on the head, Mike.
You crack me up. I don’t like Trump at all—I think he is reckless. But being an adult I can still listen to people with opposing views. And at the very least, Mike, you’re consistent. And consistent is something I can hang my hat on. It’s comforting in these crazy times.
Nobody Ok with Musk, but everybody okay with Harris lol
GOLD re-evaluation incoming
1:58 "Why do we pay interest to the wealthy for our currency creation!?
Bingo. See Edison's "dollar bill vs bond" rant!