A video to send to those who think the free market produced all the recent economic catastrophes… …and happy new year to all my listeners and subscribers, thanks so much for all your support of Freedomain Radio! 
www.freedomainradio.com
Video Rating: 4 / 5
supportedthebailout.org has the blow-by-blow. Bottom line We won round one, but this is NOT OVER, and we MUST NOT LET THIS BILL PASS. Yes, we need a bill. But not THIS bill, in any form. Most importantly – Bernanke proved IT WON’T WORK today. See inside – then pass this around – this must get WIDE viewing.
Video Rating: 4 / 5
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{ 50 comments… read them below or add one }
@G0IFI A statement is not an argument…
Sorry, but the ‘free market’ offers absolutely zero to the majority, and utopia for the few. As such, it will always have limited appeal. It’s just the other side of the Marxist coin really, instead of the Comintern, we’d be asking the corporations how high we should jump. Keep it.
@wraft “but the idea that there must be interest rates is mystifying BS.”
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If you borrow my hammer, I ask for my hammer and some of you’re wife’s wonderful cheesecake when you’re done. That’s called “interest”.
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Exactly the same thing happens if someone borrows my money, I charge “interest” because I have to put off buying what I want today, in order to give you the opportunity to get what you want today, instead of saving up to buy it tomorrow.
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Interest is the price of time.
@ubernerd35 There are only a few places that don’t have a local monopoly on television cable service.
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Those places, even if they have only one provider, have service prices about half of everywhere else.
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ISDN was invented in the early 1970s, but never “tariffed” (sold) because they decided no one would want digital service. Only when the AT&T monopoly was partially repealed did innovation and service explode, as you point out with cell phones.
@childsptisblackmail “The free marke itself is also a tyrannical beast.”
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The opposite. A free market means no one can be “tyrannical”, or they will lose their customers and go broke.
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The only way to gain is to serve customers better than someone else.
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So how is increasing choice, falling prices and improving living standards “tyrannical”?
@DebitCardMillionaire
How??
Well done… so articulate… quite eloquent. My thanks.
There’s another way to get FREE MONEY from a debit card … legally.
Please stay away from my children. We don’t appreciate common sense in these parts.
No doubt “state power” is detrimental to free market thinking. The free marke itself is also a tyrannical beast. Adam Smithism is alive and mindless. Contrary to what many dogmatically preach, the free market doesn’t correct in any kind of way that makes for a healthy economy or fairness for all. The “invisible hand”, supposedly a mysterious force that makes a market economy act in a utilitarian way, is non-existent.
OK, but the idea that there must be interest rates is mystifying BS. See, for example, Silvio Gesell on negative interest money.
Doesn’t the Federal Reserve essentially control the money and interest rates? Isn’t the Federal Reserve owned and operated by private interests?
The internet may have been started with taxpayer dollars, but it looked nothing like the internet of today. It didn’t become a useful tool until private companies began to develop it further.
@ayzb5tf8
well, you made a point here, but:
it is not the failure of a free market simply because it doesn’t exist. Governments sucking up vast amounts of money for their military industrial and social complex prevent innovations in other sectors.
But there are still innovations in pharma although it is questionable, in industrial development. there are innovations but you can’t see them because it is not for consumer purposes.
@ayzb5tf8
Hahahaha. Fucking ha. ha. ha. If there were still one telephone company, we wouldn’t have fucking cell phones.
ayzb5tf8: Google. Government produces shit.
I enjoyed your comments, although I fundamentally disagree with you. The greatest irony of this video is that you are pontificating about free markets on a medium (the internet) that was developed through taxpayer’s dollars. In today’s modern world, economic development stems from technological innovation. Can you name one major technological innovation of the past 50 years that came out of the free market? The answer is that there are none.
We obviously cooperate. But what if my family members demands 100 000$ bucks for his failing company, especially if i am aware of how much of a failure it may be in this example. It will not only lead him not to change his habits, but destroy my resources. Competition is necessary when risk is involved, otherwise you may follow a downtrend to your own eventual economic demise. Nature cooperates a hell of a lot more than it does compete, which again, happens when scarcity/risk occurs.
@ExquisiteDoom
you see market forces everywhere, and you think competition can solve every problem of this system. if you want to get something done within your family do you compete or cooperate? competition is the law of the jungle, take all your free market books and good luck!
Everything dangerous on the marketplace tend to become less dangerous. Danger creates a demand for security. The fear of losing your employes, the fear of driving your workforce elsewhere will provoke higher prices on your part. You can’t compete if there is violence; as violence is always expensive to maintain. You need to look into insurance business, rating agencies to better comprehend the opposing forces corruption would have to face.
I’m sorry but the concept of “perfect competition” has been discredited and i consider it to be mental illness. Gold competes with USD, and they’re not the same. Lazyboys compete with chairs. Apples compete with pastas. If apples are so damn cheap compared to pastas, the incentives will change, and apples will be most consumed. You don’t need this crazy idea of perfect competition for the freemarket to be fruitful. Also, as for corruption, it would inevitably be reduced through market forces.
It seems you don’t even know the arguments of the AnCaps. Try reading “Practical Anarchy” first before criticizing a Freedomain video.
You might want to look at Thomas Sowell’s race, culture and gender books if your interested in how those things are related to social organization.
Stef, I wish you’d put out more vids on the free market like this! I miss your commentary on current events!
good flick
This government spending will only slow down our recovery. Our credit rating is sinking faster than a heavy rock in water.
All people in all nations face the same internal and external threat. The agents of the fed and the agents of our governments that conspire to put all citizens under their RULE! NOT a slavery of chains but that of a SATANIC currency. From a group that exerts their AUTHORITY over all nations, and they laugh as we fight each other, not recognizing that this group was behind it the whole time. This has been the grandiose scheme since before Christ. The people worldwide have suffered at their game.
WTF!! The federal reserve is worth 27.5 TRILLION dollars and, guess what, its a privately owned ogranisation, meaning that your TAX dollars are going into the pockets of individuals and not the wellbeing of society. To think for 500 billion dollars America could have an A class public health care system, you know this smells of corruption.
Instead of handing the peoples money to the banks (privately owned) rebate the money back to the people so they can pay of their bank debts, therefor strengthening the economy, lowering inflation and resolving the crisis.
ITS NOT THE BANKS MONEY – ITS THE PEOPLES MONEY
yeah and neither will this one!
yeah and they are quite happy too!
good vid.
i’m no economist but it seems to me that when a business is irresponsible and fails as a result, they should go into bankruptcy. i’m fairly sure the politicians and nabkers wont rush to help me when i need it…oh yeah, thats right, i already needed it. that ship has sailed.
It doesn’t matter how they vote the first time. it matter how they vote all the time. Actually voting against the bill and then for it makes the congressman look like a flip flopper which can hurt the congressperson come elections. Good point though.
I think Republicans pulled another dirty trick. They agreed to the deal and backed down the last minute to get on the right side of the unhappy voters while they had the Democrats holding the bag. They will go back and they vote yes on this bill. They just wanted some political charg, to show they are on the side of tax payers.
I dont want to watch TV on my PC but like to see your mom on her knees preparing herself to take it doggy style.
The Fed needs to be thrown out. Don’t look like the govt’s going to resolve it on their own since it’s not really a government anymore. More like two factions fighting each other for control of the country. I honestly don’t know much about Wall Street economics but I know when I been robbed. I hope your plan works if it’ll help us. God help you. My Rep voted against the bail out but I wonder if the one’s who voted for it would pay out of their own pocket… No? Then they shouldn’t pay with ours.
Tax the rich until there are no rich and poor ! All You Need !
Wait a minute. If Bernanke (The Fed) injected $650 billion into the economy – where did that $ come from, if not from the US taxpayer?
Yep, he was right. There was “quite a bit of upmove tomorrow” today. Not bullshit, legman247. Ready to give this man an apology?
Denninger is a megalomaniacal little tyrant, with a cult following on his forum, who seems to have God complex now, calling his plan to bailout the biggest pigmen of all, the Federal Reserve, “The ‘Genesis’ Plan” (you can’t make this up), and claiming that it’s “How To Fix Our Banking System.” He wants to leave Command Central of Pigmen Bankers propped up and in place, calling this a “fix” for our banking system. He CENSORS anyone on his forum who points out what a moonbat he is.
When you instal fear into people they normaly do what they are told. The problem here is the Internationl banking cartel that own the US Fed. High debt, the more money common people pay with taxes and interest and the cartel get richer. This plan est before 2000 will go through and you will all pay. Forget 700 bil, try 5 to 7 tillion plus interest. Thats what you get for being DUMB. JFK was going to expose the fed, you think u can stop this.
Watch for rate cut tomorrow. PPT was working overtime to get investment bankers and sovereign wealth funds in Saudi Arabia, Kuwait, Singapore, China to buy buy buy – with the promise of a rate cut tomorrow. This is my guess on how Bernanke will make the market rally again tomorrow. I may be wrong, but you could imagine it right?
There are all sorts of problems with essentially all of those proposals. Some day I’ll take the hour or more it will take to go through most of that stuff…. but it’ll have to go on Google, as you can’t run long videos on Youtube.
How’s that 401k doing today?
You did notice that it recovered all of the overreaction from the vote, right?
Oh, thank Chris Cox for the selloff. Banning shorts increases volatility. Proof? Look at China, which now is going to PERMIT shorting because they’re tired of the 6-7% down days when the bid disappears – as it did yesterday.
40% of the loss yesterday was prior to the vote. In fact, the market had trended down by ~8% from the time Paulson played “Freddie Krueger.”
That’s not my kid; its a friend’s son. And by the way, he has a genius-level IQ, and knows more about this than 95% of Congress. I know him. He did that on his own – no involvement by anyone else – and desired to be included.
My daughter could care less like 90% of the population – unfortunately.
OK, let me get this straight. Last Tuesday the Dow closed at 10,854 and one week later (even though there was a national crisis, and the entire world was going to explode) the Dow closed today at 10,850 right?
So We the People the United States of America are to sell our children and our grandchildren into economic slavery over WHAT? A HUGE PLUMET OF 4 POINTS ON THE DOW? Are you Freakin’ kidding me? 4 points- that’s it! After all is said and done 4 points off the Dow for $700 billion. Yah right!
me neither, to the same extent.
I’d be very interested to know what Karl thinks of the monetary reforms proposed at web sites such as:
webofdebt “dot” com
monetary “dot” org
wealthmoney “dot” org
“This is what my friends son thinks of this” lol!