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DatBoiRijad
100 Posts
I didn't really know too much about our system until I saw this video. So apparently we can't do a single thing about the debt we're in, and it doesn't matter who we elect, because nobody is facing the real issue. I think regulation is needed to fix this issue, because if you look at Denmark, they were all fine before their government started getting less strict with regulations. mind = blownnn   | ||
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TadH
Canada1846 Posts
Interest means that there is more debt than can ever EVER EVER be repaid. PERIOD. It's actually, physically and theoretically impossible to get out of debt. Simply because of interest. | ||
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MoreFaSho
United States1427 Posts
Edit: Ugh. Now I'm upset I watched at all. Conspiracy theory "us against them" fallacies: I reply with this: | ||
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a176
Canada6688 Posts
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Froadac
United States6733 Posts
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DatBoiRijad
100 Posts
On June 06 2011 13:24 MoreFaSho wrote: I'm still watching the video, but I'm very suspicious of anybody who claims people don't teach something because "they have the power and they don't want you to know". Edit: Ugh. Now I'm upset I watched at all. Conspiracy theory "us against them" fallacies: I reply with this: http://www.youtube.com/watch?v=5hfYJsQAhl0 ?????? The guy is not a conspiracy theorist, I'm not sure what you're talking about. He has worked many years for the government, and has taken millions of economics courses. edit: you might as well point of where he's wrong, because "he's a conspiracy theorists, he HASS to be stupid" really isn't helping you. | ||
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TheFrankOne
United States667 Posts
Short rebuttal: From a business perspective debt or capital allows you to create value and through that you can pay back the debt as long as your return is sufficient. Government debt is a result of various fiscal, social and foreign policy decisions, not really some vast money conspiracy. Edit: Spelling To post above, millions of econ courses? | ||
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Froadac
United States6733 Posts
On June 06 2011 13:38 TheFrankOne wrote: This video makes no sense, he fails to really explain what balance sheets are and then goes on about how government debt must grown exponentially along with private debt because of some vast banking conspiracy... or something like that. Short rebuttal: From a business perspective debt or capital allows you to create value and through that you can pay back the debt as long as your return is sufficient. Government debt is a result of various fiscal, social and foreign policy decisions, not really some vast money conspiracy. This. He's arguing that the economy is a zero sum game, much as the pre-classical (non economist) economists did. He ignores the fact it is not a zero sum game, so there is room for growth. (And an increase in released money) | ||
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Jopz
United States262 Posts
On June 06 2011 13:33 DatBoiRijad wrote: He has worked many years for the government, and has taken millions of economics courses. This is exactly the kind of reassuring references that I look for when I want to believe in someone's discourse... Sarcasm aside, I really don't understand how anyone can take seriously anything prefaced with phrases like "The One Secret No One Knows!" or "What They Don't Want You To Find Out!". You wouldn't click on a random e-mail with the subject header "The One Secret to 14" Penis" or "The Stock Rich People Don't Want You to Find Out"; why would you listen to someone whose only claim to credibility is "working for many years fort he government; and has taken millions of economic courses". As for the video itself I had to stop after he started explaining bank balance sheets as his gross oversimplification of the entire thing caused several of my brain cells to run screaming in terror. | ||
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tryummm
774 Posts
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zobz
Canada2175 Posts
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phyren
United States1067 Posts
I think the financial system is pretty messed up, but this isn't how. | ||
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Treemonkeys
United States2082 Posts
On June 06 2011 13:48 phyren wrote: I couldn;t finish this. It seems really dumb and oversimplified too much. He's acting like people only ever get assets by borrowing them from the banks, but that just isn't true. On an individual level, people work and make money for it. On a societal level there is production, i.e. growing food/building properties/etc. I think the financial system is pretty messed up, but this isn't how. You forgot the highest level, where people print ink on paper and are paid trillions for it. | ||
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tryummm
774 Posts
On June 06 2011 14:10 Treemonkeys wrote: You forgot the highest level, where people print ink on paper and are paid trillions for it. Can you document specific cases of people or banks earning trillions? | ||
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NB
Netherlands12045 Posts
There are rules for a country to increase the asset WHICH later on decided how much "cash" a country can actually have. Those are controlled by the world bank and calculated by GDP and such. You really cannot describe the problem US dealing with right now in a 12 minutes video i dont think. | ||
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Treemonkeys
United States2082 Posts
On June 06 2011 14:34 tryummm wrote: Can you document specific cases of people or banks earning trillions? Why? | ||
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TheFrankOne
United States667 Posts
Because the same way this guy taking "millions" of econ courses is unreasonable because of how many classes get you a degree, people being paid trillions is unreasonable because the richest people are worth, afaik billions. | ||
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Treemonkeys
United States2082 Posts
On June 06 2011 15:02 TheFrankOne wrote: Because the same way this guy taking "millions" of econ courses is unreasonable because of how many classes get you a degree, people being paid trillions is unreasonable because the richest people are worth, afaik billions. People is plural, though honestly you aren't going to find any kind of documented net worth for the richest people in the world. | ||
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SpoR
United States1542 Posts
Actually it was a couple different films. Collapse and IOUSA and somewhat related is the film called The Corporation | ||
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Caller
Poland8075 Posts
"100k asset 80k liability" okay let me say it this the reason its called a balance sheet is because things on the left = things on the right. its an accounting tool that is used to prevent people with fiddling with numbers and to give outsiders (and insiders) a better idea of the financial health of the company. So having 100k in assets and 80k in liabilities tells me that either you have 20k in shareholder's equity, or you're a fucking idiot trying to use an ACCOUNTING TECHNIQUE to explain ECONOMIC CONSPIRACY THEORIES. "an asset is something that makes money" seriously if anybody actually believes what this guy is saying they need to go take high school accounting 101 so they can see what this guy is doing. This is like taking the theory of evolution and using it to justify killing or sterilizing people based on genetics. Oh wait that's called eugenics. seriously my mind is so blown here that i have to edit my post twice just to comment on how utterly mindblown i am about this video | ||
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