I wonder does anybody ever read the book Ecclesiastics might be a good time now , make sure you read it to the ending of it to get a good INSIGHT. CHEERS
Best financial video channel on top of my list. You have great content. I have watched all your videos so far and subscribed. Will be waiting for more videos. Keep up the good work....👍👍👍👍👍
The Greenspan's of America contribute towards the economic chaos we all end up suffering from and guys like Alan get to retire and live in comfort for the rest of their lives.
Which is why the Republicans love it and now Trump and his fellow treasonous conspirators are going to push it on this nation again as part of their conspiracy to destroy the US from within for Trump's boss Putin!
boring even if he regulated the derivative still the Criss would occur. the tsunami was already on play it was just a matter of time for the wave to reach the us markets.
^^^ is that you Powell? lol Forced austerity is a bad thing? The dollar should be tied to a measure of something other than thin air or number of digits on a computer at the fed.
@@slowridefpv9668 currencies are bound to trust, mine that, another thing, the World is not USA, silly games on a computer will come to a dead end, suck capital from 3rd world countries and guess here they will fund their economies and don't forget about throwing "allies" under the bus ( EU), next electoral circle socialism and woke will be out of business and dollar with it.
@@antoniolima1068 if money isnt tied to anything tangible. than anyone can print more at will,therefore it devalue past work... a.k.a our work... duh.....
@@johncmoore416 yessir. It still boggles my mind that these guys weren’t robots programmed in a lab but a kid with dreams that were crushed who became an adult that had no choice but to do what they do and thriving.
This is the first one I watch about Greenspan. I was begging for more. I think that with the content that you add and your well-balanced narrative style I would have loved if the documentary had been a 4 one-hour episodes series. Hopefully, this was just the trailer. Thanks!
@@kingali1606 Like many progressive-era boards that purportedly regulate some industry, in fact they cartel-ize it. The Fed acts as a "lender of last resort" allowing banks to be insolvent without immediately experiencing bank runs. The Fed exists to stabilize the cartel by standardizing fraudulent banking practices so that a real bank can't drain the specie (gold and silver coin) from banks which issue paper in excess of actual specie reserves. You can judge for yourself whether the gold banks or the Fed are winning that fight
Great video, I recently read his book capitalism in America. It's a predictably cherry-picked history of the United States. He only mentions the labor movement to talk about the frequency of strikes and does not touch on the violence enacted by the state on to workers at the direction of the companies, he ignores how workers established a 40-hour work week. He often contradicts himself by stating, for example, that Rockefeller was keeping prices low while conceding that he used money to prevent competition that would have driven down prices. He pretty much skips his entire tenure at the Fed, and Praises mortgage-backed securities while ignoring the role they played in the financial collapse. However, he did at least make some good points that were refreshing to see him admit to. He called Republican claims that lowering taxes would pay off the deficit as "putting lipstick on a pig". He admitted that privatizing Fannie Mae and Freddie Mac was a terrible decision that massively increased government corruption. He also admitted that the economic boom that took place after World War II had more to do with Europe and Asia not having any industry to support itself rather than any particular policy the United States was following, and points out that we immediately faced a recession once those economies rebuilt themselves after the war.
Another example of cherry pickers as you point out... the "gatekeepers" are running rampant in the alternative media as forever in msm... many of the so called progressives are another mouth pc of the organizers of disinformation... It becomes quite obvious when checking family backrounds of some very "belieavable" narrators.... Cheers from México
I didn't have the brain or stamina to finish his book or even understand most of what I did read. One thing that did stick was at that time his net worth was 1.5 million dollars. He said that was enough to care for his daughters life and give a good start to her two boys. That would be a sign of incredible honesty in my mind. But think about how after the 2008 crash they pulled him in for some scapegoating. He was asked when he first noticed a problem with the economy and he answered 2003. He retired in 2006 which makes me think he was held back from fixing the problem and wasn't going to hang around. In any case we didn't have any more scapegoating of Alan Greenspan. Now we have this putting the blame back on him.
I love the production of this channel, the music, redaction and video tapes. Luckily I discovered it. Please never stop creating this kind of masterpiece
Greenspan, 82, acknowledged under questioning that he had made a “mistake” in believing that banks, operating in their own self-interest, would do what was necessary to protect their shareholders and institutions. Greenspan called that “a flaw in the model ... that defines how the world works. Greenspan destroyed fair wages and filled the gap with credit creating a pyramid scheme that led to a massive transfer of the nation's wealth from the middle class to the very wealthy few. He explained how the nation was misled about the need for higher payroll taxes that were used to finance deficit budgets. Greenspan deceived the American people into believing that deregulation and elimination of the progressive taxes were going to be a benefit. But instead, they moved our economy into exactly the same condition that existed just before the massive financial failure that resulted in the Great Depression of the 1930s.
We're Sloooow on purpose ask the Rockefellers. In the military they say "SHIT ROLLS DOWN HILL". What they don't tell you is the HILL IS MONEY. SOMEONE OWN IT, and us via our servitude to it, rather than each other. How about GIVE IT BACK TO THEM. It's not the first time you've heard this. " Give unto Caesar what is Caesar's. The apparatus of his power and controls, the money. Squirrels don't pay rent and the experts are baffled. Time banks of ourselves USURPED. and to be free, we need them back. Money gives them the right to " treat you, they're the boss, but they don't know money is the boss of them, someone else owns them with also.. See how all this works ? 1+1+1=3. 1+ 999,999,999 = 1,000,000,000. 1 with their own legal tender of 999,999,999 = 999,999,999 in servitude to the 1 with the law says you work for me. Show me where freedom can be found anywhere in that math ? We're done, because we said so, choice made, we're picking roll to someone else's DIE.
The great depression didn't happen due to deregulation or progressive taxes rather government pulling the interest rates up. This led to less borrowing and cash flow in the market was restricted. US today has tonnes of regulations and progressive taxes. They aren't doing any favour to the economy or over-all growth at all. Infact US growth is far less than what it used to be.
In 2007, I had been following Ron Paul's campaign and was reading websites outside the mainstream. I learned the stock market was headed to a collapse not seen in decades. I moved all my 401k holdings to conservative funds. I lost nothing, mine increased. Everyone I knew lost on paper 15 to 25% on paper. Bush junior's treasury secretary on his knees, literally, begging members of congress to pass TARP which failed, but went through the second time. The lesson wasn't lost on me. I ignored the wall street journal, NY times, wash post, etc. I had already junked television in the 1990s but I then realized all corporate media is corrupt.
Joe Harris Ron Paul would have made a great president he knew what was going on that's why he wanted to audit the fed but he couldn't get any support from congress
@@donthomason8409 Ron Paul was the only political candidate I have ever supported: I donated a few hundred dollars for his first "money bomb" during the 2008 presidential campaign.
It's easy to blame that 1 person instead of each single individual person who borrowed money without any buffer to support themselves in hard times. Easy to blame Al, hard to take individual accountability.
It's one to thing to lose a husband and a father during a Depression. But just imagine the next Depression, when millions of men have already learned 'The Deal' from social media, no longer wish to even date, and have been preparing for years to stay out here alone. This is not just the legacy of the internet and information, but of a long history of government financial 'architects' such as Greenspan, setting us up for deprivation and despair. Greenback was a genius ... till he wasn't.
That's the reality. While many men are only a knock on the door away from coupling up, many remember being spurned previously. It's going to be rough for the lower-income women and men.
Your approach and execution to these videos is without peers. Simply great, amazing work. I would like to second the comment that you should give thought to doing a video on Warren Buffett. Even though I have most of the books published about him in my home, I think your talented, unique approach and style would give a much needed boost to a subject most of us are familiar with. Thanks again for providing us with content and depth that is sorely lacking in 99% of all but the best videos.
Brooksley Born called Greenspan out about reckless Wallstreet behavior prior to the 2008 financial collapse, his reaction as well as others was contempt and dismissive. Brooksley, thanks for doing your job questioning the egomaniac.
I'm just thinking about the people that made this video and if they didn't realize just how crazy the resemblance is to him or if they just said "eh who cares"
Paul Volker was right. A balanced budget and frugal spending is the best way to mitigate extreme economic boom and bust cycles. Put simply, at the individual or family level, live within one's means. I'm surprised Alan Greenspan said there are many things economists dont know. I guess he was so intelligent he overlooked the danger of leverage and spending much more than what the US earns.
bullsmoke... it's not a good system with random ups & downs.. evil thieving bankstards bribe and blackmail house..senate.. OO... gains are short term.. eventually t sec defa u lts. ....bare shelves .. no fuel; w ater ; elec ; police ; army ; med ; sanit ; comm/ tain ; trans
It's very hard to have real growth when you're living within your means. At the micro level, an entrepreneur often must take on debt in order to grow their business. The same is true of U.S. GDP.
@@edgardovillacorte7012 gibberish.. It's the national deficit forced on us by the federal reserve bank owners... Government goes along with it because of the short-term gains of bribery plus the inducements of traffic intimacy Partners.
as my interest in Finance I got hugely addicted to these videos man I watch them every morning with cup of coffee and take nodes ..I think you are using un real engine for some footages .. the animated footages and your narrating style with music makes no less than Hollywood product
Love your ability to tell great stories. I wonder why you just don't say it like it is? Overturning the Glass Steagall Act was a great example of corruption at the highest level. Also, I still don't understand why any government would need to be loaned money with interest? That interest will never be payed back unless the government borrows more. Isn't that called a contract debt slavery system? Could you make a video about the history of the Federal Reserve and where their money comes from?
It’s designed in a way that the „Money system“ isn’t directly tied to the government and has a separate decision maker in it apart from the president. So there is not just one central power but multiple entities that function independently. The fed doesn’t just lend money to the government, the Fed funds rate also determines the price of money for consumers. A good example for why that is necessary was said in this video, The Fed chair chose to counteract the president, because he wanted cheap funding for the war, but that would’ve turned on the afterburner of inflation. so their choice was between helping fund a war of the government or regulate inflation which otherwise would bankrupt most Americans and would devalue the dollar far too much. They chose Americans over the war. Furthermore the government gets the bulk of its „revenue“ from taxing the citizens, sadly especially the most productive ones (in democrat states) and also through private investors who invest in bonds. So yes, they can pay it back. The U.S. government is considered a very safe borrower, because it historically never defaulted on its debt. But they keep borrowing money of course to fund public spending, which is often very inefficient in terms of ROI, which means the investments were not very productive. In other words, the government is a shit investor.
That is because governments don't create money, so they can either tax to get funds or borrow. The Fed actually allows the government to borrow at historically lower rates than governments who did not have quasi-public central banks at their disposal. Central banks allow governments to borrow well beyond their means, so your question just goes to show how untethered much current thinking is regarding public finance. The overspending/monetization leads to more debt, and too much debt has always led to slavery. Historically, imposing limits on governments' abilities to tax and borrow has ensured that populations do not get reduced to penury or slavery.
Yes, Clinton signed that repeal. The Rebublicrats strike again. They also deregulated the commodities exchange so you could arbitrage oil futures and pork bellies and no one would be the wiser. They stopped reporting trades to a national clearinghouse.
LOL ... back when i studied in the US in year 2000 everybody basically says alan greenspan is the US ' economic sage and the reason why america is the greatest nation on earth.
Economic history,thanks,real drama.I was in my brothers house(Caterpillars financial VP)Ed was fearless working out of Nashville TN financial headquarters.
Really enjoy all year videos, very educational. One thing I would mention is that personally i find the use of so much music very irritating and distracting, which is a shame, as it makes it hard to concentrate on what's being said.
‘Economic plundering’ is such a juicy concept lol . He certainly looked like one. A quagmire of deception. Kissinger and Brezensky are other high ranking bandicoots of that era.
Ayn Rand is the gift that keeps on giving. Libertarians really do think of themselves as the next step of human evolution or something, except their super power is usually just coming from generational wealth. I don't understand how politicians still hold that book dear, despite living through 2008.
@@rustomkanishka Because people like you don't understand basic economics. The reason the bubble got so big was because of artificially low interest rates dictated by the central bank and therefore government intervention. It has become even worse after the government bailed the banks out.
People loved Greenspan as long as the market kept going up and up--although it was obvious that valuations were very high and credit was flowing into the market (people borrowing money to buy stocks/mutual funds as well as using traditional "margin") this has been shown to have been a predictor of troubles ahead many times I believe
It is true he controlled it, I wonder what he would have done after the crash if he was still in control of the federal reserve. Great job many details I never knew about before.
So he allowed banks to merge and they bought so much real estate with customer money that when the housing market crashed, they lost all of their money?
No. The banks and the big players created a house of cards scam to rip off the public and raid the US Treasury by having the Glass-Stegall act repealed and using the TARP Act for bonuses. Investment houses created junk bonds by selling to investors mortgaged-back financial creations.They then promised great wealth even though Investing Firms executives knew the mortgages were sold to people with no money. Later, people went crazy selling their houses, buying and reselling for profit, but by now the buyers were stuck with high-paying mortgages on low-priced houses. Would you take out a $200,000 mortgage to pay for a house that used to cost $200,000 but ended up losing value and is now $125,000...for 30 years? I didn't think so; neither did the buyers of houses. They quit paying the mortgages until the junk bonds became worthless. It was 1987 all over again. The housing marketing crashed,the investments became worthless and the govt had to bail them out with taxpayer money.
I would say zionist heads.. bent on ruling the globe.. Roth schild financed zionazi takeover of palestine.. Roth schild & rockefellers created the fed and central banks 1 & 2 before the fed.. okayed by wilson 2 days b4 xmas CBD central bank dynasty are in control of all central banks but no korea ccp. didn't used to have debt.. now they do..
Greenspan was an assistant principal at the junior high I went to in Brooklyn in the 60s. He was the nastiest individual I remember from my days at that school. A real A-hole.
Nobody should have been surprised. When lenders are allowed to lend to unqualified buyers and housing prices sky rocket beyond affordability for most people, any observant person should have recognized it was a bubble heading towards a crash. There is no excuse for the failure to following basic underwriting standards.
Great Video. When you refer to the demand shock and inflation, all I could think of was this past year. Would love to hear your thoughts on if raising interest rates now is the right idea considering it's mostly a demand shock
Great vdo. I think Paul Volcker was a very wise and intelligent guy when compared to Greenspan. Volcker must have feared debt but Greenspan thought it to be a genius thing. I think everyone respects Volcker, Greenspan is doubtful though.
back when i studied econ in the year 2000 my macroecon text book actually denounce paul vockler's policies as the reason why the US had recessions. and without mentioning another name it basically praised alan greenspan. whoever i talked to about economy they basically praised alan greenspan. the economy was flush with credit and everyone had well paying jobs. Alan Greenspan was God, longest reigning fed reserve chief clinton george bush all kissed his pinky ring...
@@donthomason8409 Paul Volcker was successful in bringing down Inflation, if it wasn't for him, then there would have been Hyper inflation and economy would have collapsed like Venezuela, Zimbabwe, Sri Lanka etc. So Paul Volcker did the right and wise thing during the 80s.
one had integrity and love for a Nation of people, the other a power monger that saw in debt a way to siphon wealth to US corporation leaders from the globe.
Alan Greenspan loved himself too much. Maybe he needed his father to show him honest character and integrity. How many fathers lose there jobs and still get up.
Great video. But I think the most extraordinary event is yet to come. The ground work has been laid. We need to ask, who really controls things? Anyways very insightful video. Some of us were concerned about things that happened and the manipulation that was carried out throughout the industry.
Greenspan's last comment demonstrates how he thinks even still that "he" was all economists. "What do we economists really know, if we didn't catch this?" Ummm plenty of fucking economists realized what Greenspan was doing from the time he began after Volcker... the same thing since 1908... A cycle of higher interest rates... then at peak interest rates to boost the economy these interest rates are lowered... and lowered... and lowered each time providing the short term sugar rush boom. That is always followed by a mountain of debt (that's how money is created into our system)... that cannot be repaid (the bust)... and at times it can lead to inflation... so then there is a tightening period where interest rates are hiked. Leading to a recession in order to maintain price stability. He got the golden goose of super high interest rates to end the 1970's Arthur Burn's induced stupidity stagflation. Something that should have been discussed, including Burns (then Fed Reserve Chairman under Nixon) CPI that Burns gutted and started excluding over 72% of what was in the CPI out of it... giving false nonsensical data that would show no inflation. Then he had to backtrack and r-add various items back into the CPI formulation. Volcker had interest rates higher than 20%... Greenspan's boom was simply reducing that to 1% over a period of 20 years... To add, doing what everyone else had learned and protected against with the Glass-Steagall Act... having that removed allowing monopolies to become a thing again, no more trust busting and we damn sure no Amazon to Microsoft to Google to Walmart, etc. etc. many other companies are outright monopolies and shouldn't exist as such both vertical and horizontal. Allowing stock buy backs to become a thing when prior they were mostly banned as they add absolutely no value to anyone workers or investors other than a short term buying frenzy to lift stocks for a short period so short term equity holders and options holders can cash out quickly while the short term buying frenzy of the company buying back shares happens. A complete scam... hence why they were very rarely allowed unless the company was literally buying itself into a private partnership, buying out all the public float and ending trade-able shares. The commercial banking and deposit banking having a firewall so deposit bank money was not utilized to speculate in securities of any kind, only to produce loans both signature and collateral loans for business and individuals. Commercial banking generally with those willing to risk their deposits on speculative potential pyramid and ponzi scheme like junk could do so at their own risk keeping everyone else from suffering the ill consequences of such scams. All this was undone during Greenspan's era and with his support. He lived thru the lowering of interest rates from 20% to 1%... no kidding equities went to the moon... that's debt binging money creation like never seen in US history. Japan did the same during the late 70's and thru the 80's culminating in their still continuing malaise that started in 1989 their stock market peak still even today 2022 has never achieved to break even. Everything he thought he "knew", rather thought, was wrong. Dead wrong. Ayn Rand lunatics with delusions of being some Morgoth of Arda or Sauron the swine robber baron like fat nosed JP Morgan or other of the ilk... no wonder he endorsed monopolies... the very thing that contradicts competitive market principles that is at the heart of the only good that so called "free" markets perform at all well... competition. Only reason a competitive market principles work is to have competition. Greenspan was a horrible egotistical lunatic who still thinks he was the economists economist. It escapes him completely to realize that many economists were warning his stupidity has already been done several times all thru the 1600's 1700's 1800's (1800's is cute because half that century the USA was in a recession, depression, long depression, or a panic). And complete culminated in the 1929 crash... hence all the reforms that included FDIC deposit insurance on money at the bank so we don't lose our money should a bank go bust... The National Labor Relations Act of 1935 which fully legalized unionization collective bargaining for all sectors of the economy.... the social security program to ensure elderly aren't left as bag women wondering until they die in the streets in parks and in ally ways... initially the Housing Act of 1937 updated several times during FDR's administration and into the 1960's into the HUD Act ensured affordable modern housing complete with actual foundations and floor boards, utilities including water, sewer, and electricity... even during the so called boom 1920's the vast majority of Americans lived in what we today would called hovels or slums apartments lacking water, sewer, electricity many of them dirt floors... shacks. All these things were either mostly or completely abandoned or undone. And we stand in amazement wondering why inflation is now sky high... why even prior to the pandemic millions of families live in their cars, tents, or an RV... KOA campsites of all small towns and larger cities get flooded with tenants the moment they're made as the vast majority of people cannot afford to borrow for a home, nor pay the rent prices despite working full time or even double or triple employment. We stand in amazement on how younger people die as they cannot afford critical medical supplies like insulin as they ration the amount... despite every other nation on this earth that has a form of universal healthcare and a pricing allowance knowing exactly the margin and costs to produce such medicines... not surprisingly the US medical supplies and services exceed these profit margins by 100's of times. Yet we have fewer clinics, hospitals, staffing levels, lag in test results, etc. etc. the worst care possible at the highest price possible. Any foreigner first told the price of our ambulance for one ride to the hospital... are surprised that a taxi cab (a luxury service) is cheaper... but it's emergency? So do you pay a lot of fire service too? Which fortunately the robber baron's have not privatized that.... yet.
Who should pay for health insurance,affordable housing....and maybe(why not) an universal minimum income???And if you provide all this,who will clean your sewers,empty your garbage or work 12 hr shift for a minimum pay...so you can get your iphone at a minimum price??? Monopolies are usually the result of competition,not allowing them would mean limited competition....and so would be the situation with the limitation of profit from the pharma industry.Don't believe me???loook at the "progress" done in the antibiotics sector that stagnates for years...why??because it is not profitable A society based on a nightwatchmen state, Individualism,libertarianism,voluntary asociation and self interest is the fairest type of society that exists.Eat or be eaten,get the prom queen or the ugly duckling...all depends on you...and the society has no obligation to provide them to you. p.s...btw,what is the price of a glass of water in the desert if i am the only one that can provide it
Build and trade 𝐪𝐮𝐚𝐧𝐭 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬 with no coding - composer.trade/finaius
I wonder does anybody ever read the book Ecclesiastics might be a good time now , make sure you read it to the ending of it to get a good INSIGHT. CHEERS
Best financial video channel on top of my list. You have great content. I have watched all your videos so far and subscribed. Will be waiting for more videos. Keep up the good work....👍👍👍👍👍
Are you planning something on sequioa capital.
The problem is the unconstitutional Federal Reserve bank creating money out of the air is NOT the solution it's the root cause of the problem.
The Greenspan's of America contribute towards the economic chaos we all end up suffering from and guys like Alan get to retire and live in comfort for the rest of their lives.
He has a next generation to worry!
And we don't
Anyway he is an oldman now, few days left to live...
Which is why the Republicans love it and now Trump and his fellow treasonous conspirators are going to push it on this nation again as part of their conspiracy to destroy the US from within for Trump's boss Putin!
The end result was quantitative easy made everyone in the world poor or poorer.
He refused to regulate derivatives years before the crash, warned over and over and let it all happen
boring even if he regulated the derivative still the Criss would occur. the tsunami was already on play it was just a matter of time for the wave to reach the us markets.
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And still nothing has been done. Munger calls this “pointless liquidity”
@@conduit242 You are correct sir…
Organized mafia creators of nothing and profiteers of everything
Greenspan was a gold standard advocate but mysteriously forgot this stance when he was in office only to remember it again after leaving office.
Isnt that funny how that works
economy bound to a commodity?? historical mind set should be in a museum, not in modern economics.
^^^ is that you Powell? lol
Forced austerity is a bad thing? The dollar should be tied to a measure of something other than thin air or number of digits on a computer at the fed.
@@slowridefpv9668 currencies are bound to trust, mine that, another thing, the World is not USA, silly games on a computer will come to a dead end, suck capital from 3rd world countries and guess here they will fund their economies and don't forget about throwing "allies" under the bus ( EU), next electoral circle socialism and woke will be out of business and dollar with it.
@@antoniolima1068 if money isnt tied to anything tangible. than anyone can print more at will,therefore it devalue past work... a.k.a our work... duh.....
Hearing these guys back stories really grounds you. A lot of them were in the same spot as any of us as young men and found a way to climb the ranks.
It is about knowing things, knowing how to network, and lastly knowing how to leverage your knowledge and your network.
@@johncmoore416 yessir. It still boggles my mind that these guys weren’t robots programmed in a lab but a kid with dreams that were crushed who became an adult that had no choice but to do what they do and thriving.
Ahh yes. Being born to a wealthy Jewish family. So relatable
He was born to a rich Jewish family.
Sarcasm lol
This is the first one I watch about Greenspan. I was begging for more. I think that with the content that you add and your well-balanced narrative style I would have loved if the documentary had been a 4 one-hour episodes series. Hopefully, this was just the trailer. Thanks!
His rise corresponded with the rapid rise of government debt with also pushed up the asset bubble.
The Fed should never be wrapped up in politics, their job is to control and maintain financial stability, regardless of the political implications.
Their job, like all corporations, is to enrich their owners
@@anonymousAJ How?
@@kingali1606 Like many progressive-era boards that purportedly regulate some industry, in fact they cartel-ize it. The Fed acts as a "lender of last resort" allowing banks to be insolvent without immediately experiencing bank runs. The Fed exists to stabilize the cartel by standardizing fraudulent banking practices so that a real bank can't drain the specie (gold and silver coin) from banks which issue paper in excess of actual specie reserves. You can judge for yourself whether the gold banks or the Fed are winning that fight
“The Fed should never” have been created
@@anonymousAJ you must not be a business owner
The best documentary on Greenspan I have seen.
yo man trust me, you are gonna be one of the most succesful creators ever.
Thanks!!!
@@FinaiusI would kill to see you do a video on the Fed: artificial rate hikes and wars.
Many thanks for filling in this part of my naivete about economics, Wall Street, the Fed, and politics.
An excellent presentation about " Economics 103 ".🤗
Great video, I recently read his book capitalism in America. It's a predictably cherry-picked history of the United States. He only mentions the labor movement to talk about the frequency of strikes and does not touch on the violence enacted by the state on to workers at the direction of the companies, he ignores how workers established a 40-hour work week. He often contradicts himself by stating, for example, that Rockefeller was keeping prices low while conceding that he used money to prevent competition that would have driven down prices. He pretty much skips his entire tenure at the Fed, and Praises mortgage-backed securities while ignoring the role they played in the financial collapse.
However, he did at least make some good points that were refreshing to see him admit to. He called Republican claims that lowering taxes would pay off the deficit as "putting lipstick on a pig". He admitted that privatizing Fannie Mae and Freddie Mac was a terrible decision that massively increased government corruption. He also admitted that the economic boom that took place after World War II had more to do with Europe and Asia not having any industry to support itself rather than any particular policy the United States was following, and points out that we immediately faced a recession once those economies rebuilt themselves after the war.
👍👍👍
He also said that at the fed they answer to no one in the American government.
He's right regarding Rockefeller.
Another example of cherry pickers as you point out... the "gatekeepers" are running rampant in the alternative media as forever in msm... many of the so called progressives are another mouth pc of the organizers of disinformation... It becomes quite obvious when checking family backrounds of some very "belieavable" narrators.... Cheers from México
I didn't have the brain or stamina to finish his book or even understand most of what I did read. One thing that did stick was at that time his net worth was 1.5 million dollars. He said that was enough to care for his daughters life and give a good start to her two boys. That would be a sign of incredible honesty in my mind. But think about how after the 2008 crash they pulled him in for some scapegoating. He was asked when he first noticed a problem with the economy and he answered 2003. He retired in 2006 which makes me think he was held back from fixing the problem and wasn't going to hang around. In any case we didn't have any more scapegoating of Alan Greenspan. Now we have this putting the blame back on him.
I love the production of this channel, the music, redaction and video tapes. Luckily I discovered it. Please never stop creating this kind of masterpiece
Sexophone
Another great video! You have to keep these coming, I know for a fact you could be putting out more content! We appreciate it! Keep it coming!
I'm happy I found your channel. Incredible production values and you lay everything out in a manner that is easy to follow.
Woody Allen
Need one on Bernanke as well. QE king who drove us to the tipping point of becoming the 90s Japanese economy.
Thank you Matt Taibbi for getting me interested in researching Greenspan
Love this channel. Always great in depth content.
Question is, is it just another jake tran? "What do you expect from a channel that teaches you how to be evil)...
Hello
You Can Hire me For Asset Manager , Accounts Manager , Tax Maanger We do work With 100 % secretly
Hello
You Can Hire me For Asset Manager , Accounts Manager , Tax Maanger We do work With 100 % secretly
Greenspan, 82, acknowledged under questioning that he had made a “mistake” in believing that banks, operating in their own self-interest, would do what was necessary to protect their shareholders and institutions. Greenspan called that “a flaw in the model ... that defines how the world works. Greenspan destroyed fair wages and filled the gap with credit creating a pyramid scheme that led to a massive transfer of the nation's wealth from the middle class to the very wealthy few. He explained how the nation was misled about the need for higher payroll taxes that were used to finance deficit budgets. Greenspan deceived the American people into believing that deregulation and elimination of the progressive taxes were going to be a benefit. But instead, they moved our economy into exactly the same condition that existed just before the massive financial failure that resulted in the Great Depression of the 1930s.
Boeing did the same
We're Sloooow on purpose ask the Rockefellers.
In the military they say "SHIT ROLLS DOWN HILL". What they don't tell you is the HILL IS MONEY. SOMEONE OWN IT, and us via our servitude to it, rather than each other. How about GIVE IT BACK TO THEM. It's not the first time you've heard this. " Give unto Caesar what is Caesar's. The apparatus of his power and controls, the money. Squirrels don't pay rent and the experts are baffled. Time banks of ourselves USURPED. and to be free, we need them back. Money gives them the right to " treat you, they're the boss, but they don't know money is the boss of them, someone else owns them with also.. See how all this works ?
1+1+1=3.
1+ 999,999,999 = 1,000,000,000.
1 with their own legal tender of 999,999,999 = 999,999,999 in servitude to the 1 with the law says you work for me. Show me where freedom can be found anywhere in that math ? We're done, because we said so, choice made, we're picking roll to someone else's DIE.
Progressive taxes are regressive and ruin the middle class and prevents the growth of individuals and small businesses. Nice try burying that in there
The great depression didn't happen due to deregulation or progressive taxes rather government pulling the interest rates up. This led to less borrowing and cash flow in the market was restricted.
US today has tonnes of regulations and progressive taxes. They aren't doing any favour to the economy or over-all growth at all. Infact US growth is far less than what it used to be.
@@gabbar51ngh wrong
I just wanted to tell you keep going on making the videos, You did a great job. I always listen to your videos with inspiration
Your videos are super underated and amazing! Please keep making these they are really educational.
In 2007, I had been following
Ron Paul's campaign and was
reading websites outside the
mainstream. I learned the stock
market was headed to a collapse
not seen in decades. I moved all
my 401k holdings to conservative
funds. I lost nothing, mine increased. Everyone
I knew lost on paper 15 to 25% on paper.
Bush junior's treasury secretary on his
knees, literally, begging members of congress
to pass TARP which failed, but went through the second time.
The lesson wasn't lost on me. I ignored the wall street journal,
NY times, wash post, etc. I had already junked television in the 1990s
but I then realized all corporate media is corrupt.
Wow, what an experience!
Hi Joe, what is a conservative fund?
@@TheMweezy28 interest-bearing instruments rather than stock
Joe Harris Ron Paul would have made a great president he knew what was going on that's why he wanted to audit the fed but he couldn't get any support from congress
@@donthomason8409 Ron Paul was the only political candidate
I have ever supported: I donated a few hundred dollars for his first
"money bomb" during the 2008 presidential campaign.
It's insane to see how far this channel has come.
Till a UA-camr with some real numbers and credibility fact checks him and calls him out for being frothy
@@mimusic1853 It's all accurate. Don't be a simpleton.
Greenspan knew when to get out!
Wow what a documentary! It is so important to see the history of easy Al who started the financial mess we are currently in.
It's easy to blame that 1 person instead of each single individual person who borrowed money without any buffer to support themselves in hard times. Easy to blame Al, hard to take individual accountability.
It's one to thing to lose a husband and a father during a Depression. But just imagine the next Depression, when millions of men have already learned 'The Deal' from social media, no longer wish to even date, and have been preparing for years to stay out here alone. This is not just the legacy of the internet and information, but of a long history of government financial 'architects' such as Greenspan, setting us up for deprivation and despair.
Greenback was a genius ... till he wasn't.
That's the reality. While many men are only a knock on the door away from coupling up, many remember being spurned previously. It's going to be rough for the lower-income women and men.
Nice
Bros... give it to me straight, are we gonna make it?
@@LeSunshineee Yes. The Bros will, the Hoes won't. Class dismissed.
He was a Khazar
Your approach and execution to these videos is without peers. Simply great, amazing work. I would like to second the comment that you should give thought to doing a video on Warren Buffett. Even though I have most of the books published about him in my home, I think your talented, unique approach and style would give a much needed boost to a subject most of us are familiar with. Thanks again for providing us with content and depth that is sorely lacking in 99% of all but the best videos.
Thanks. I'm actually doing one on Buffett. There are so many videos of him online. I want to make this one unique.
@@Finaius Hlo, to be very honest ur videos are really amazing. Will u pls make one video on Rothschild family ?
8:37 I didn't know Woody Allen and Alan Greenspan were the same person, now finally many things make sense
all dyuwhs
😜
LMAO!
Oh shit... It was the missing piece
Both are
200k subs woah remember when I found this channel great work it was obvious it was going to happen with this quality of content
Your videos are insanely well made, can’t stop watching them. Just incredible. Well done 👍
Brooksley Born called Greenspan out about reckless Wallstreet behavior prior to the 2008 financial collapse, his reaction as well as others was contempt and dismissive. Brooksley, thanks for doing your job questioning the egomaniac.
Should do a VLOG on the real owners of the Fed Rwserve and how it was created then you will know who the likes of Greenspan work for
Alan Greenspan, the Woody Allen of the financial world.😂
8:50.you beat me to it
I'm just thinking about the people that made this video and if they didn't realize just how crazy the resemblance is to him or if they just said "eh who cares"
Did Woody actually fuck anything as bad as greenspan did?
Paul Volker was right. A balanced budget and frugal spending is the best way to mitigate extreme economic boom and bust cycles. Put simply, at the individual or family level, live within one's means. I'm surprised Alan Greenspan said there are many things economists dont know. I guess he was so intelligent he overlooked the danger of leverage and spending much more than what the US earns.
A government that controls its currency and has debt to itself doesn't have to do frugal spending... as long as it's for productive stuff.
bullsmoke... it's not a good system with random ups & downs.. evil thieving bankstards bribe and blackmail house..senate.. OO...
gains are short term.. eventually t sec defa u lts. ....bare shelves .. no fuel; w ater ; elec ; police ; army ; med ; sanit ; comm/ tain ; trans
It's very hard to have real growth when you're living within your means. At the micro level, an entrepreneur often must take on debt in order to grow their business. The same is true of U.S. GDP.
@@edgardovillacorte7012 gibberish..
It's the national deficit forced on us by the federal reserve bank owners... Government goes along with it because of the short-term gains of bribery plus the inducements of traffic intimacy Partners.
@@edgardovillacorte7012
Volker is an idiot... The central bankers continuously force deficit spending debt on us
as my interest in Finance I got hugely addicted to these videos man I watch them every morning with cup of coffee and take nodes ..I think you are using un real engine for some footages .. the animated footages and your narrating style with music makes no less than Hollywood product
Love your ability to tell great stories. I wonder why you just don't say it like it is? Overturning the Glass Steagall Act was a great example of corruption at the highest level. Also, I still don't understand why any government would need to be loaned money with interest? That interest will never be payed back unless the government borrows more. Isn't that called a contract debt slavery system? Could you make a video about the history of the Federal Reserve and where their money comes from?
It’s designed in a way that the „Money system“ isn’t directly tied to the government and has a separate decision maker in it apart from the president. So there is not just one central power but multiple entities that function independently. The fed doesn’t just lend money to the government, the Fed funds rate also determines the price of money for consumers. A good example for why that is necessary was said in this video, The Fed chair chose to counteract the president, because he wanted cheap funding for the war, but that would’ve turned on the afterburner of inflation. so their choice was between helping fund a war of the government or regulate inflation which otherwise would bankrupt most Americans and would devalue the dollar far too much. They chose Americans over the war. Furthermore the government gets the bulk of its „revenue“ from taxing the citizens, sadly especially the most productive ones (in democrat states) and also through private investors who invest in bonds. So yes, they can pay it back. The U.S. government is considered a very safe borrower, because it historically never defaulted on its debt. But they keep borrowing money of course to fund public spending, which is often very inefficient in terms of ROI, which means the investments were not very productive. In other words, the government is a shit investor.
the fractional reserve system is the oldest ponzi scheme ever
That is because governments don't create money, so they can either tax to get funds or borrow. The Fed actually allows the government to borrow at historically lower rates than governments who did not have quasi-public central banks at their disposal. Central banks allow governments to borrow well beyond their means, so your question just goes to show how untethered much current thinking is regarding public finance. The overspending/monetization leads to more debt, and too much debt has always led to slavery. Historically, imposing limits on governments' abilities to tax and borrow has ensured that populations do not get reduced to penury or slavery.
Bill Clinton was instrumental in the 2008 catastrophe. He is a stooge of Wallstreet greed.
Yes, Clinton signed that repeal. The Rebublicrats strike again. They also deregulated the commodities exchange so you could arbitrage oil futures and pork bellies and no one would be the wiser. They stopped reporting trades to a national clearinghouse.
Hats off to all associating members who has contributed to reach this level of Outpuf Much better than a Netflix Series. 😍
Most likely he knew the harm he was gradually doing but the adulation and riches he was getting from wall street were “too big” to turn down
You put a lot effort into your videos. Thank you for the education and viewing pleasure
You should set up and promote a Patreon. I feel like a lot of people would support this work. Myself included
Yup
Woody Allen as Allen Greenspan …. Epic
Hello
You Can Hire me For Asset Manager , Accounts Manager , Tax Maanger We do work With 100 % secretly
Have you read any of his books or papers? Nothing is more silly than saying something that reveals your ignorance.
@@CaesarRenasciyou’re confused dude, he’s referring to the Woody Allen images he used as Greenspan in the video
Woody Allen is basically Alan Greenspan. 😆
I was thinking the same thing but I don’t think it’s compliment
j e w
That's what I'm saying lol there's no way these guys didn't see that
@@kingstonstreet3726 it certainly isn't lol
Woody Allen, did he marry his step daughter or adopted daughter?
This guy is amazing (I mean the guy who makes these docs) THANK YOU ! You are gifted and talented AAA+++
LOL ... back when i studied in the US in year 2000 everybody basically says alan greenspan is the US ' economic sage and the reason why america is the greatest nation on earth.
Yes, you are so right, I remember this vividly!
Not everybody
Economic history,thanks,real drama.I was in my brothers house(Caterpillars financial VP)Ed was fearless working out of Nashville TN financial headquarters.
Keep up the good work!
😆
Really enjoy all year videos, very educational. One thing I would mention is that personally i find the use of so much music very irritating and distracting, which is a shame, as it makes it hard to concentrate on what's being said.
if economic plunderers have a rank... Alan Greenspan would be a 7 star general, besting all criminals
If Greenspan is a General Milton Friedman is Emperor.
But far behind Hyman Roth...
‘Economic plundering’ is such a juicy concept lol . He certainly looked like one. A quagmire of deception. Kissinger and Brezensky are other high ranking bandicoots of that era.
@@daotheeternalnamelessbeyon8778 progressive reforms.....
@@daotheeternalnamelessbeyon8778 progressive side reforms means something completely different
love your content bro would like to see Joel Greenblatt and Micheal Burry next .
I Like how this biography is done. .make More of these!! Hope you can make also about raytheon.. those weapon industry tycoons!!
Of course. I'll eventually get there.
And microwave ovens!
One way to describe him is the fact that Americans do not like to loose, is a win anyway anyhow mentally!
Greatness in progress 💯💯💯
Cheers from Panamá 🇵🇦
You are a magnificent storyteller
Desperately waiting for the next video, being a student of finance i love ur videos
.Tell Max I link you for something new and profitable!♥♥
These videos are so well made. Big thumbs up!
Of all the people who tried to warn about the dangers of derivatives, Pat Robertson was talking about the risky scheme in the early 1990s.
You left out his admiration and connection to Ayn Rand?..that would speak volumes of what his beliefs were
Ayn Rand is the gift that keeps on giving.
Libertarians really do think of themselves as the next step of human evolution or something, except their super power is usually just coming from generational wealth.
I don't understand how politicians still hold that book dear, despite living through 2008.
@@rustomkanishka Because people like you don't understand basic economics. The reason the bubble got so big was because of artificially low interest rates dictated by the central bank and therefore government intervention. It has become even worse after the government bailed the banks out.
Just got the popcorn ready when I say FINAiUS dropped a new docu!
great job as always, I would love to see a Warren Buffet video Thanks
Greenspan did warn the world of "irrational exuberance"
Another Superb video! Keep up the great work
L❤😂
Those videos are so good. I wish he would upload a little bit more frequently
From Paul Walker to Green span we can see how hard times create great men and great time creates worse people.
Volcker, not Walker.
@@porkyfedwell😂😂😂
Paul walker😂😂
What a wonderful people live on this planet...
Alan "see no evil, hear no evil" Greenspan
Hello
If you Need Asset Manager , Accounts Manager , Tax Manager So we Do Work With 100 % Secretly
0:30 - The Housing Bubble popping was just as big a surprise as a person driving a car on a set of bad tires .
This is amazing work you did again ❤🚀❗
The premier bartender who never believed in cutting off the free liquor. Addicted Wall Street to this day.
If you look up his early life on wiki. It explains everything…
Man, I’ve watched a lot of your work, really good stuff. I like your style.
People loved Greenspan as long as the market kept going up and up--although it was obvious that valuations were very high and credit was flowing into the market (people borrowing money to buy stocks/mutual funds as well as using traditional "margin") this has been shown to have been a predictor of troubles ahead many times I believe
EXCELLENT opening!!! 😮
As per the usual, GREAT editing overall!!!
you're talking about alan greenspan but constantly showing woody allen, was kinda weird, but good video anyway
Yeah, I was told by a friend that Woody Allen would play Greenspan well in a movie. haha.
This is better than Netflix
It is true he controlled it, I wonder what he would have done after the crash if he was still in control of the federal reserve. Great job many details I never knew about before.
He would have done the same thing... print more money... lol...
Bro. I was so happy seeing you put a new video 📹 up. Love the content bro. It's almost like Crack for me.
How do you know what crack feels like 😂
Thanks!
I think This will be next soon one of my favorite channel.. nice content!!
Choosing Woody Allen clips was an oddly inspired choice.
I agree
Great job, man. You are great at this
everything you need to know starts at 21:23
Do Arthur Burns next, I feel like many people will find that relevant to the events of today. Fantastic content!
So he allowed banks to merge and they bought so much real estate with customer money that when the housing market crashed, they lost all of their money?
No. The banks and the big players created a house of cards scam to rip off the public and raid the US Treasury by having the Glass-Stegall act repealed and using the TARP Act for bonuses.
Investment houses created junk bonds by selling to investors mortgaged-back financial creations.They then promised great wealth even though Investing Firms executives knew the mortgages were sold to people with no money.
Later, people went crazy selling their houses, buying and reselling for profit, but by now the buyers were stuck with high-paying mortgages on low-priced houses. Would you take out a $200,000 mortgage to pay for a house that used to cost $200,000 but ended up losing value and is now $125,000...for 30 years?
I didn't think so; neither did the buyers of houses. They quit paying the mortgages until the junk bonds became worthless. It was 1987 all over again. The housing marketing crashed,the investments became worthless and the govt had to bail them out with taxpayer money.
we need more of these vidoes - thank you
.Tell Max I link you for something new and profitable!♥♥
THE FED HAS ONLY HAD JEWISH HEADS SINCE ITS CREATION. Let that sink in
Paul Volker was not Jewish, nor were many others, nor am I, and you are paranoid. Let that sink in.
EXACTLY !!!
I would say zionist heads.. bent on ruling the globe.. Roth schild financed zionazi takeover of palestine.. Roth schild & rockefellers created the fed and central banks 1 & 2 before the fed.. okayed by wilson 2 days b4 xmas
CBD central bank dynasty are in control of all central banks but no korea ccp. didn't used to have debt.. now they do..
This can be a good thing. They have to have a heart.
associated with the red shield banking empire
Greenspan was an assistant principal at the junior high I went to in Brooklyn in the 60s. He was the nastiest individual I remember from my days at that school. A real A-hole.
Starring Woody Allen as a young Alan Greenspan.
@FINAiUS 𑁕𝟭 (𝟰𝟳𝟵) 𝟳𝟱𝟱-𝟯𝟲𝟯𝟵 Why would I do such a stupid thing
Nobody should have been surprised. When lenders are allowed to lend to unqualified buyers and housing prices sky rocket beyond affordability for most people, any observant person should have recognized it was a bubble heading towards a crash. There is no excuse for the failure to following basic underwriting standards.
9:10 The plural of aircraft is aircraft, without the letter s.
Yea, that's such a pleb mistake to make really for an educational channel.
Great Video. When you refer to the demand shock and inflation, all I could think of was this past year. Would love to hear your thoughts on if raising interest rates now is the right idea considering it's mostly a demand shock
Hello
If you Need Asset Manager , Accounts Manager , Tax Manager So we Do Work With 100 % Secretly
Great vdo. I think Paul Volcker was a very wise and intelligent guy when compared to Greenspan. Volcker must have feared debt but Greenspan thought it to be a genius thing. I think everyone respects Volcker, Greenspan is doubtful though.
back when i studied econ in the year 2000 my macroecon text book actually denounce paul vockler's policies as the reason why the US had recessions. and without mentioning another name it basically praised alan greenspan. whoever i talked to about economy they basically praised alan greenspan. the economy was flush with credit and everyone had well paying jobs. Alan Greenspan was God, longest reigning fed reserve chief clinton george bush all kissed his pinky ring...
Volkmer and Bernanke are crooked as hell
@@donthomason8409 Paul Volcker was successful in bringing down Inflation, if it wasn't for him, then there would have been Hyper inflation and economy would have collapsed like Venezuela, Zimbabwe, Sri Lanka etc. So Paul Volcker did the right and wise thing during the 80s.
@@e.sanoop110 I'm sorry I had him confused with some one else, yes he was a great man
one had integrity and love for a Nation of people, the other a power monger that saw in debt a way to siphon wealth to US corporation leaders from the globe.
Economic investigator Frank G Melbourne Australia is following this informative content cheers Frank 😊
Alan Greenspan loved himself too much. Maybe he needed his father to show him honest character and integrity. How many fathers lose there jobs and still get up.
Great video.
But I think the most extraordinary event is yet to come.
The ground work has been laid.
We need to ask, who really controls things?
Anyways very insightful video.
Some of us were concerned about things that happened and the manipulation that was carried out throughout the industry.
People don't realize Alan was an Ayn Rand style Sound Money/Gold Standard enthusiast. The closest thing we had to this recently was Dr. Ron Paul.
Yeah, but Greenspan changed his principles because of his own political ambition.
No, that happend after everything. When he retired. Do you always defame people?
@@CaesarRenasci What's defamatory about this "Ayn Rand style Sound Money/Gold Standard enthusiast" ?
I Have Not come across a more informed youtube Channel 1 Million subscribers Guaranteed!!!!
Greenspan's last comment demonstrates how he thinks even still that "he" was all economists. "What do we economists really know, if we didn't catch this?"
Ummm plenty of fucking economists realized what Greenspan was doing from the time he began after Volcker... the same thing since 1908...
A cycle of higher interest rates... then at peak interest rates to boost the economy these interest rates are lowered... and lowered... and lowered each time providing the short term sugar rush boom. That is always followed by a mountain of debt (that's how money is created into our system)... that cannot be repaid (the bust)... and at times it can lead to inflation... so then there is a tightening period where interest rates are hiked. Leading to a recession in order to maintain price stability.
He got the golden goose of super high interest rates to end the 1970's Arthur Burn's induced stupidity stagflation. Something that should have been discussed, including Burns (then Fed Reserve Chairman under Nixon) CPI that Burns gutted and started excluding over 72% of what was in the CPI out of it... giving false nonsensical data that would show no inflation. Then he had to backtrack and r-add various items back into the CPI formulation.
Volcker had interest rates higher than 20%... Greenspan's boom was simply reducing that to 1% over a period of 20 years...
To add, doing what everyone else had learned and protected against with the Glass-Steagall Act... having that removed allowing monopolies to become a thing again, no more trust busting and we damn sure no Amazon to Microsoft to Google to Walmart, etc. etc. many other companies are outright monopolies and shouldn't exist as such both vertical and horizontal.
Allowing stock buy backs to become a thing when prior they were mostly banned as they add absolutely no value to anyone workers or investors other than a short term buying frenzy to lift stocks for a short period so short term equity holders and options holders can cash out quickly while the short term buying frenzy of the company buying back shares happens. A complete scam... hence why they were very rarely allowed unless the company was literally buying itself into a private partnership, buying out all the public float and ending trade-able shares.
The commercial banking and deposit banking having a firewall so deposit bank money was not utilized to speculate in securities of any kind, only to produce loans both signature and collateral loans for business and individuals. Commercial banking generally with those willing to risk their deposits on speculative potential pyramid and ponzi scheme like junk could do so at their own risk keeping everyone else from suffering the ill consequences of such scams.
All this was undone during Greenspan's era and with his support.
He lived thru the lowering of interest rates from 20% to 1%... no kidding equities went to the moon... that's debt binging money creation like never seen in US history. Japan did the same during the late 70's and thru the 80's culminating in their still continuing malaise that started in 1989 their stock market peak still even today 2022 has never achieved to break even.
Everything he thought he "knew", rather thought, was wrong.
Dead wrong.
Ayn Rand lunatics with delusions of being some Morgoth of Arda or Sauron the swine robber baron like fat nosed JP Morgan or other of the ilk... no wonder he endorsed monopolies... the very thing that contradicts competitive market principles that is at the heart of the only good that so called "free" markets perform at all well... competition.
Only reason a competitive market principles work is to have competition.
Greenspan was a horrible egotistical lunatic who still thinks he was the economists economist. It escapes him completely to realize that many economists were warning his stupidity has already been done several times all thru the 1600's 1700's 1800's (1800's is cute because half that century the USA was in a recession, depression, long depression, or a panic). And complete culminated in the 1929 crash... hence all the reforms that included FDIC deposit insurance on money at the bank so we don't lose our money should a bank go bust... The National Labor Relations Act of 1935 which fully legalized unionization collective bargaining for all sectors of the economy.... the social security program to ensure elderly aren't left as bag women wondering until they die in the streets in parks and in ally ways... initially the Housing Act of 1937 updated several times during FDR's administration and into the 1960's into the HUD Act ensured affordable modern housing complete with actual foundations and floor boards, utilities including water, sewer, and electricity... even during the so called boom 1920's the vast majority of Americans lived in what we today would called hovels or slums apartments lacking water, sewer, electricity many of them dirt floors... shacks.
All these things were either mostly or completely abandoned or undone.
And we stand in amazement wondering why inflation is now sky high... why even prior to the pandemic millions of families live in their cars, tents, or an RV... KOA campsites of all small towns and larger cities get flooded with tenants the moment they're made as the vast majority of people cannot afford to borrow for a home, nor pay the rent prices despite working full time or even double or triple employment.
We stand in amazement on how younger people die as they cannot afford critical medical supplies like insulin as they ration the amount... despite every other nation on this earth that has a form of universal healthcare and a pricing allowance knowing exactly the margin and costs to produce such medicines... not surprisingly the US medical supplies and services exceed these profit margins by 100's of times. Yet we have fewer clinics, hospitals, staffing levels, lag in test results, etc. etc. the worst care possible at the highest price possible. Any foreigner first told the price of our ambulance for one ride to the hospital... are surprised that a taxi cab (a luxury service) is cheaper... but it's emergency?
So do you pay a lot of fire service too? Which fortunately the robber baron's have not privatized that.... yet.
I appreciate your input on this!!!
Quite a yarn you’ve spun! In a good way! Interesting read
well done, American society is going back to 1800s.
Who should pay for health insurance,affordable housing....and maybe(why not) an universal minimum income???And if you provide all this,who will clean your sewers,empty your garbage or work 12 hr shift for a minimum pay...so you can get your iphone at a minimum price???
Monopolies are usually the result of competition,not allowing them would mean limited competition....and so would be the situation with the limitation of profit from the pharma industry.Don't believe me???loook at the "progress" done in the antibiotics sector that stagnates for years...why??because it is not profitable
A society based on a nightwatchmen state, Individualism,libertarianism,voluntary asociation and self interest is the fairest type of society that exists.Eat or be eaten,get the prom queen or the ugly duckling...all depends on you...and the society has no obligation to provide them to you.
p.s...btw,what is the price of a glass of water in the desert if i am the only one that can provide it
@@antoniolima1068 really? You mean to a gold standard and small government? It doesn't look like it.
Bro this was really interesting, you are a n artist🙆🙆👌🏽👌🏽👌🏽🙆 This better than Netflix, it's informative and entertaining!!
Appreciate it
I love your video's more than my crush.
Don't tell her that lol.
@@Finaius she already knows that 😂😂
That start is a shocker!!!