This one always gets me:
Bert, you’re man of the day 
borrowing that shit and postan on ma wall.
Soon after I posted that pic the LvMI FB page posted it…maybe someone from this forum…
Didn’t want to start a new thread…
So the Greeks are rioting because their government benefits are being cut.
It begs the question what they are trying to achieve. Do they think they can keep consuming twice as much stuff as they produce if only they convince their government to keep handing out free money?
Where exactly are those goodies going to come from, in a country where 11 million citizens live off 3.5 million taxpayers? Have they ever wondered whether it may be physical reality they are up against, and not sheer unwillingness by the state to hand out more goodies?
Whether it is Americans and their out-of-control public deficit or Greeks rioting for benefits that plain aren’t there, at some point they all have to face the fact that money is just an allocation mechanism. Their problem isn’t monetary, so the solution isn’t monetary. The reason they are in debt is that they are consuming more stuff than they are producing. The only way to not be in debt is not to consume more stuff than they produce.
This was probably rhetorical, since you didn’t want to create a thread, but…
Basically.
Nope.
Yep. The problem is as basic and simple as that concept is, people don’t understand it. A friend told me she was speaking to a co-worker who literally asked what all the debt talk was about…“the government can just print money” she said.
People use the dollars every day, they understand they have value, and that’s about where the understanding stops.
“Where exactly are those goodies going to come from, in a country where 11 million citizens live off 3.5 million taxpayers? Have they ever wondered whether it may be physical reality they are up against, and not sheer unwillingness by the state to hand out more goodies?”
But what about democracy???
Obviously, if the poor dont have enough, its because the rich have too much. Obviously.
Schiff’s a lot less combative here; I can only figure it’s because of the format and the environment. I doubt I would be able to remain this jovial surrounded by such idiocy. And that bald douchebag really gets on my nerves every time I see him.
What I love is clueless ignoramus on Schiff’s left. The best part is at 3:47 when he just gets through literally saying the finacial system is being “suffocated by liquidity”. They even put the quote up on the bottom of the screen. So Schiff asks him what the Fed should do…and after a little jumping around and some silent word searching, he finally manages to blurt out: “I think that the Fed should continue to, you know, provide, you know, more amounts of liquidity…”
No joke. They even put up the quote. The ticker at the bottom of the screen literally changes from “Atwater: American financial system being suffocated by liquidity” to “Atwater: Fed should continue to provide liquidity.”
This is the caliber of people on the news. Not only that, this guy runs an actual business. He (apparently) know something (what that is, I have no idea, but at least he evidently can keep a business afloat), and this is how clueless he is. Now realize the vast majority of the time people are getting their news from financial reporters. Like the bald guy.
It’s even worse than he describes, because paying attention in Econ 101 would not have helped.
Has cracked.com started being funny again?
So you may remember Praxgirl. They could use some funding. (And evidently a date)…
Schiff: but thats just inflation! Why should they do that?
bald guy: because no one else is doing anything!
Hahahahahahaa
A nice little piece on the false vindication of Keynesians:
Keynesians Jump the Gun on Inflation
