Jon Stewart SHREDS Dishonest Moron's Inflation Lies
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- Опубліковано 21 жов 2024
- Jon Stewart speaks with former Obama Treasury Secretary Larry Summers about the economy and what Summers believes the causes for inflation and high prices are.
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This entire interview is GOLD. This unwavering persistence & honesty are exactly how John Stewart changed the game to begin with.
'The experts proved the Hunter Biden laptop was Russian disinformation'
Exactly. I’m so sick of people sh*tting on Jon Stewart. He’s an og boss and it’s just disrespectful.
@@BoringTroublemaker Who is shitting on him?
Larry Summers took a gamble, because it's one that often has high odds of success -- most people will make arguments from their personal bias (like Summers). And so he makes these arguments that would be against Jon's point but for his personal bias, but Jon is not a hypocrite who makes arguments based on his bias.
@@BoringTroublemaker did you see his “interview” with Rice and Clinton?
Larry Summers offers a stunning display of how sociopaths can't understand that others might not be sociopaths.
Exactly!
Especially when others happen to be wealthy as well.
Gotta love how he kept trying to rope Jon in. "C'mon man, we're both megalomaniacs, why are you busting my balls?"
He understands. He doesn't care.
Hard to do when you live in a sociopathy bubble, and more important, in an environment prone to rewarding sociopathy.
This is scary. Rich people pay politicians to make sure they get access to taxpayer funds first when banks shutter or they're in jeopardy of losing all their money. I feel bad for the lowest paid workers that may be affected, but not CEO's. A lot of them have created this abusive corporate pay structure where they are paid 300 to 400 percent the salary of entry level workers. Most add very little value. They posture and perform with speeches, meetings, and excessive travel to provide the appearance of working hard. It's a con.
Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.
@@serenasmith2859 Please can you leave the info of your investment advisor here? I’m in dire need for one.
*"SOFIA ERAILDA SEMA".*
That's my licensed Financial advisor you can easily look her up, Thank me later!
Thank you! I just looked up sofia online and researched her accreditation. She seems very proficient, I wrote her detailing my Fin-market goals and scheduled a call.
Remember, he destroyed Tucker Carlson’s bow tie.
Is that why Tucker gets 4 million viewers and John Stewart gets less than 50 thousand?
If only Stuart got the rest of Carlson too.
That was his villain origin story.
@Alabama Man sounds like you got those numbers from the hyenas mouth
@@alabamaman5994 Tucker gets that many viewers because his old ass audience doesn't know how to use the internet, so they watch whatever is on cable. Once the boomers die, so will your party, so get ready to leave. Or you could just leave now.
Larry Summers is literally doing “we’re not so different you and I” villain speech
Eggs are almost $10.00 per dozen here in Sacramento, CA!
@@moonstar68jr Eggs are still under $4/dozen here in Canada. Virtually no one carries a gun--and yet its far safer than America for some reason. Free healthcare. Women's health is not under attack. ;-)
@@moonstar68jr eggs got expensive, not due to inflation, but due to shortages. That’s why eggs increased more than milk and anything else.
@@moonstar68jr I always buy local eggs in Virginia. They’re still $3-$5 a dozen, depending on whom you buy them from. Admittedly, $3 is not as common as it once was, but that’s hardly going to break me, and I like dealing directly with the people who raise the chickens.
@@jaycossey850 keep bragging, we’ll invade just to make your country as shit as ours.
Don’t think we won’t.
Guys, that's called growth. Unlike most folks, Jon is able to grow as a person. And he was always calling out hypocrisy as such. The only difference is growing and being able to see the reality of the situation and with the clout he carries, no longer being afraid to speak out in confidence. Instead of punching down with the "well he wasn't like this back then harumph-harumph" embrace his growth. He's been absolutely on point like this since coming back. He's definitely not perfect and doesn't go harder on certain subjects, but a win is a win is a win is a win. Let's take those wins where we can and keep trying to push people further.
Yes
WTF? This is the first time I've heard of anyone left of center not loving Stewart since the beginning. Sounds like biting the hand that feeds them.
@thedarkerknight2188I think to people left of the establishment Democratic Party, he had the appearance of being a shallow inoffensive establishment Democrat line-toer (i.e. not truly anti-capitalist, uncritical of Democrat hypocrisy). See current late night talk show hosts who will make fun of Trump but would never question capitalism.
Regardless of how that true that was of Jon, I think he’s earned the respect of those same skeptical leftists these days.
Amen! I usually enjoy MR content but they are WAY To Sanctimonious. I think MR will eventually evolve and grow. Just like they assess of Jon.
I strongly suspect this has to do with MR being bitter over the system.
Realistically you can't be anticapitalist on a mainstream media channel because they're capitalist; you're eventually going to find some of your owners skeletons. Hell, this appears to be what happened to the problem with JS.
Majority report, and other leftists, have to use alternative channels, ones that are less popular. Meanwhile compromisers whom will toe the line get more clout. The system is unfair, and our instinct is to punch out at those benefitting, particularly the public facing ones.
The thing is, JS absolutely deserves his clout, as he's fundementally honest about his performative nature, and everytime that drops there's a firebrand under it. Further he's never been socially conservative nor said anything socially conservative to my memory; his core values are real.
My little psychoanalysis may be wrong, but I think it's important to remember that leftist content creators aren't everymen and their perspectives can be influenced by their station.
I honestly think this is Jon's best work. I think he's pulling a John Oliver and getting more progressive as he gets older
John's always been progressive it's just that the other side has gotten crazier
It’s almost as good as the interview/debate he did with the Arkansas politician who was pushing the anti trans laws.
As they say, young thoughtful and compassionate liberals turn into older capitalism-doubting progressives.
exactly, good to see cuz usually the opposite happens
I mean he's always been progressive lmfao but he has definitely gotten less willing to give people the benefit of the doubt.
He looked so smug talking about apple only to get wrecked 😂
“You work for Apple. Do you think *they’re* price gougers? 😏”
“Yes.”
“…Oh.”
That Sucka thought he had him. Wasn’t prepared for a non sellout interview.
They all firmly believe everybody is just like them on the inside, just wearing different masks. That's why they're so obsessed with "virtue signalling". The idea of somebody having actual principles is just utterly incomprehensible to them.
To people like him, having principles is like seeing a unicorn. They can't believe it when they see it.
@@pano3607 I freaking lost it 🤣
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I’m amazed at how upset this interview is able to make me. I thought I was numb to people like Summers, but my capacity for anger still hasn’t peaked apparently
Our anger is never gonna peak until Larry Summers is behind bars for what he did on Epstein’s island
Who wouldn’t be mad at Summers for that insanity?
I wanted to knock his teeth out about 1.5 seconds into his evil speech about how great price-gouging is.
Good.
For what it's worth, sorry for your pain but I'm glad some people still care.
Why the animus? Summers has been out of office for what - 6 years? What are you blaming him for -- at this late date? Inflation? I'm watching a smart, educated guy explain economic policy. He voluntarily appears on Stewart's podcast -- to talk. And this angers you?
I love how Larry summers tried to put himself in the same category as Jon.
No Larry we are not the same. Jon works for a living. He doesn’t influence economic policy and the market. Nor does he take lobbyists money. Because they couldn’t gaf what Jon Stewart does. Hell he is on apple and they don’t even think this interview will hurt their bottom line.
Jon wasn’t a frequent visitor to Epstein’s rape island
People like Larry summers are nothing but high class cowardly grifters. They will side with the rich and powerful every time in order to get a cut of the green. The only way to fight them is to be WOKE to what they are doing and fight the like hell. You have to keep an eagle' s eye on this people and make them pay politically and financially.
Tbf they’re probably right sadly
@@placebojesus5652 yea Jon needs a bigger audience. Idk if corporate media infiltrator is the right place either. Idk if he would even get past the establishment like Hassan.
But he needs a bigger audience somewhere he will be amplified and MSM can’t ignore him.
I love Jon Stewart, he really cares about the little people. I love the show too, great job.
While Larry pontificates, they keep cutting back to Jon’s face with a look that says, “…are u really saying that?” 😂
....and Larry apparently, hasn't a clue as evidenced by his continued pontification despite the, look.
It was all about Jon.
Jon's expressions were priceless...he looked like he was trying to decide between strangling the guy or puking.
I like how Summers tried whataboutism with Stewart and Apple, and Stewart had the humility to admit and agree
No idea why he expected anything less, John Stewart has no stake in Apple. If his show wasn't on Apple+, it would be on youtube or spotify or HBO, or something else. He has no issue calling them out because they might currently be paying his bills, he's not an apple CEO. his pay check doesn't go up when they make more money. He might make more than the average middle-class worker, but he isn't collecting huge profits off the backs of the middle and lower class, he's working within the system like the rest of us. You think the average Genius Bar worker, or Apple service worker, or factory worker is getting giant bonuses? Yeah right!
Because Jon Stewart is an intellectually honest man, unlike Summers.
@@M00nSlippers I guessing Summer's thought since Stewart show is on apple, he's gonna agree with me on this one. News splash summer's you don't know Jon well, he shits on comedy central when he was on there too. Apple needs to his content not Stewart, and Stewart knows this.
@@lip124 @Justin Kosuk @Lauren Wainwright This entire thought experiment is saddening, because you guys don't get it. Jon didn't "have humility", nor does he simply lack a stake in Apple. The reason that Jon wasn't persuaded by those arguments is because his isn't a hypocrite, and you guys apparently would be because you're drawing from your personal experience to try to understand him.
Most people are hypocrites, and when given an argument from their personal bias, they change their argument to fit their bias. Jon Stewart, despite having a stake in his employer (or not, who cares?) did not change his argument to fit his bias because he's not a hypocrite. You don't need to figure out how Larry Summers must have miscalculated in figuring out what Jon's bias is -- some of us really can just set aside our bias and keep making the same arguments with logical consistency even when we don't personally like the conclusion of those arguments.
Most people are not hypocrites.
Face it, folks. Jon Stewart is, always has been, and always will be the smartest person in the room. And there's nothing you can do about it...
They didn’t all of a sudden become greedy, they’ve just gotten greedier
They have always been this greedy. It’s just that now they can fund their own politicians since Citizens United.
They just figured they’d get away with it. And they would have if it wasn’t for those meddling kids… Ha!
@@danpowell3953 I hate that this is true, but don't fool yourself: they're getting away with it again this time.
There is no system or structure still in functional use to counter them. Sure, we have antitrust and fiscal regulations, but the vast majority of those with the power to set those levers in motion are bought and paid for by guys like Summers, or they're already members of his cohort.
The rot has set in. The only way to fix the structure before it collapses is cut out the rot and start again, and I'm afraid the majority are too apathetic, ignorant, and politically disengaged to even recognize this, let alone get out in the streets in numbers sufficient to prompt any kind of meaningful change.
The worst part about guys like Summers is that, when they assume they can keep getting away with robbing us, they're right.
Apple and so many other corporations move a lot of their profits overseas for big tax breaks. We 99% can’t do that.
That’s a ridiculous statement, corporations don’t become greedier overnight
Larry Summers sat there in utter amazement that someone would criticize their corporate overlords. That's what happens at 14:04 He literally cannot believe it. The trap he tried to set presumed that Jon Stewart, like every rich person he's ever known, would drop the schtick when threatened with his boss' interests. And the shock of that moment is priceless. Just look at him.
Emma's points are delivered with such passion and clarity. I am so happy to have her speak for me.
I absolutely love how Larry Summers bothered to memorize the increase in value of Apple before the interview as a "break glass in case of emergency" sort of thing, not realizing he comes off as a total buffoon (while making exactly Jon's point for him)
Only just found this channel and love you guys. So well spoken and intelligent. This is what we need. Rational explanations of the truth. Not just trying to create outrage.
Jon is brilliantly pointing out the Economic malpractice that has gone on in the US since Reaganomics.
That kind of stuff is where regulation is needed.
@@craigh5236 US had the regulations and tax laws in place. Republicans won the silent war they’ve waged since 1970’s by quietly stripping them away. They also won the propaganda war if anyone’s keeping score.
Yup, Jon broke it down to the elementary level. This is a real education. Finally, the media is doing it's job.
Not just the US, pretty much all the developed nations are doing it. Canada is in a really rough spot with the mismanagement of the housing market in addition to the other sources of inflation. Wages have barely gone up, if at all, in blue collar and unskilled jobs, and then the governments wonder why we have a labor shortage for those jobs.
@@strangestecho5088 Canada avoided banking deregulation thanks to Jean Chrétien, generally has strong labour laws and isn’t trying to go back to the 50’s in terms of women’s rights. Yes, housing is expensive; an unfortunate side effect of driving the economy with immigration but the upside is lots of jobs.
I don’t see other G1 countries where the government is actively trying to send their population back to the dark ages. Sure, Macron is trying to get a couple extra years out of French workers who have the magnificent retirement age of 62 but he may not win that battle. In the US, people would just shrug and accept it.
I'm so glad he mentioned the way corporations BRAG about price gouging. It's out in the open! Yet the people in charge are 🙈🙉🙊
"What's so wrong with a little War-profiteering" Larry Summers, 2023
“He’s also pretending there’s only one medicine… the one that impacts 20% of the problem.” BINGO
That's the only option available to the Fed though
@@anmolt3840051 So maybe the Fed does nothing.
The Fed could advocate for monopolies and duopolies to be broken up to argue for more competition... but that would affect profits.
@@nerag7459 No I think it's fine that we have monarchs whose kingdom is large sections of our economy.
@@fishbiter9409 This is fine.
Please try to get Jon on the show, Sam.
Also, please try to get Sam on your show Jon!
That would be great.
Sam who?
Sam Seder publicly accepted my open invite for left personalities to come on my show, we would cover all costs
He then privately DM'd me saying he wouldnt actually come on and then used it to generate content for his youtube channel
He is a liar and a coward'
- Tim Pool, 23 June 21
@@basedtruthpiller7140 🤡
Nobody:
Dr. Larry Summers: You take this medicine and I’ll be monitoring your health from my modest hut in the Bahamas!
Everyone of these politicians think comedians are dumb. And, they walk right into that train and then wonder “I’m so smart, how’d that train hit me..?”
Summers is an _economist_ , and as such a smirkably grandiose overestimation of his own intellect is an irrefragable career requirement.
@@hadronoftheseus8829 that occupation heavily selects on miserable c..NT personality traits.
Because they are dumb, and have absolutely no understand of much. Much like the comments here. The job losses will come. We already have more inflation in 2 years than we have seen from 2011 to 2021. No one’s life is better because of the massive devaluation of our purchasing power. It’s tragic, but the working class will lose this in the end.
This is a heads they win tails we lose moment. Unfortunately it doesn’t matter how much money they send to the middle class and above, it will quickly go to the wealthiest corporations. Look at who has become rich since 2020, sure isn’t the bottom half that’s for sure.
We don't have to assume that corporations got greedy overnight: they were always greedy, this price gouging is just the latest opportunity for them to let that greed flag fly.
Hey, corporations are people too.
Thank you for providing this important interview in a 'free' forum. I consider that a public service as I will never give money to Apple. Executive compensation in this country is obscene and I'm not certain the average man-in-the-street understands just how badly they are being screwed.
This particular interview is freely available on The Problem With John Stewart youtube channel.
When Summer pivoted to Apple like John would support them I LOST IT.
He probably thought cause his show is on apple, he would fall in line.
@@lip124 Such a big self own from Summer as well.. Just outing himself as a person who has always stepped in line when the corporations tell him to. "Wait what? .. but.. you're owned by Apple right? Oh wait? What? .... I ... I need to read some of my contracts again... You telling me Exxon doesn't own me and my opinions?... wtf... I've been lying for all these rich people my whole life... I didn't have to do that???"
It's like he sees integrity for the first time in his life.
@@vgaportauthority9932 spot on. Summers is probably surrounded by yes men and believes that everyone has to stay subservient to their corporate overlords and so is shocked when he sees someone who is not afraid to perform the traditional role of a jester who speaks the truth in the kings court when everyone else lies to protect their own neck. The jester is there to make fun of the king for all the lies he tells himself since without the truth being spoken, the king is at risk of endangering the whole kingdom. Summers is there on behalf of the rich people behind the king who whisper how he needs to keep order by disciplining the peasants but will allow the king to be killed if the peasants revolt and just back the next king whoever takes over. The rich believe that the politicians are the kings but in a democracy, the king is everyone who exercises their right to vote in a way that is informed and aware of how the system is set up and who has outsized influence through money and media messaging.
How many times have I wondered why certain items, made in this country, are either consistently out of stock or way overpriced when I know their corporate makers are making record profits. Thank you and thank Jon Stewart.
Actually it's misleading. Sure, companies are making profits. But profits are essential to staying in business. Without corporate profits, you won't have a business and the things that business make wouldn't be there for you.
No, Jon Stewart was complaining about corporate executives getting big bonuses. And Jon decided not to criticize too much that workers are also being paid a lot more because of the shortage of workers (low unemployment). Despite how it sounds, bonuses paid to corporate execs are in total tiny compared to the total of all the higher prices everyone is paying, especially for essentials of life.
I don't agree that Jon Stewart's chosen argument is very relevant to the big problem of inflation. He just chose that crusade because he knows it strikes a chord with his fans and not because it's very important to the overall scope of inflation.
Theoretically in capitalism the way you can fix this is by starting a competing business. The megacorp will lower prices to drive you out of business - mission accomplished.
@@thewhitefalcon8539 you lost me at theoretically.
We have antibiotics but he wants to use leeches... Lol
Let's take a moment to recognised that Summers took the time to learn those Apple stat's prior to this interview thinking he'd catch Stewart in a gotcha moment, but it blew up in his face. Apple may have added over a $1 trillion in value, but the look on Summers' face in that moment was priceless.
Exactly, I've been thinking about that too. He had those memorized, ready to go. He really thought that was gonna be a "drop the mic" moment. What a fricking ding dong.
@@PeacefulPariah A frickin ding dong who is in charge of our economy!
Oh my god, 17:17 Summers looked like he was going to throw up in his mouth. Jon is a fucking magician.
oh yes... a beautiful moment, among several...
Agreed: unfortunately, Larry Summers isn’t as “genius” as he thinks he is by half, and John Stewart was ready for Larry’s perfectly predictable Milton Friedman attempt at public humiliation, but John flipped the script on him. Summers’ cheeks puffed at that moment from the gut punch…
Wow I've never heard someone in real life do the villain "You and I are the same" speech before.
Ikr? That was surreal.
I kept hearing "We're not so different, you and I." In that Dr. Evil voice.
The long-haired white cat lounging in his lap was just out of camera range.
As a citizen I'm told I'm responsible for paying back the national debt. How come nobody says businesses are responsible for paying off the national debt? Especially if corporations are people?
Jon Stewart DESERVES Medal of Freedom Award. Can we petition? Let’s.
YES
Certainly no. He’s not a racist or neo nazi that’s the bench mark these days isn’t it
He's not getting any Presidential award from a Democrat Administration (or any other) after doing that to Summers
@@yossarrian no one can hear you from mom’s basement
@@yossarrian Jesse what the fuck are you talking about?
Jon has absolutely been destroying everyone he's debated
It's easy to do because the other side is so obviously wrong. MSM so rarely does this. Good on Jon.
It’s what he does best. 😂
Not really
@@jasonvoorhees7288 do you have an example of him not? If so, please provide a link to the video.
Too bad Jon is too smart to get into 'professional politics'; Jon would make a great POTUS !
Nothing easier than to break a fascists lies. The hard part is getting them to actually sit down for an interview because they know everything they say is a lie.
People are dying from the bullshit republicans are pushing. Acting like it's for the children and then voting against anything that would actually help children. People are dying from these abortion bans. Fox news maga supporters killing their whole families.
Wow the gall of that guy is unreal. Keep on him Jon. Don't let the bullshit go through.
But I thought nobody wants to work. Why are you taking away their jobs to prove otherwise?
“The only way companies will charge less for food is if people can’t afford to eat”-the fed
stewart giving d charlie chaplin look .. serious comic 😂
When people say things like "I don't think its a tenable view that corporations all of a sudden became greedy." No, corporations have always been greedy but seeing the pandemic and stimulus they saw it as an opportunity to raise their prices and blame it on the stimulus... It was an opportunity the same as any other predator that lay in wait looking for an opportunity...
You don’t understand how economics works. Products are not instantly produced. It takes years in the oil industry to bring gas to market. Pipelines were laid decades ago at lower prices. Workers were hired years ago at lower wages. But now inflation skyrockets and like every other company they have to pay workers and steel, and drilling equipment at TODAY’s dollars. Hence the higher profit. That is not real profit. It is higher BECAUSE of inflation which was caused by the government printing money. That is the real villain not greedy corporations. If you want to lower the price of oil sell all federal land and let oil companies compete unregulated. Stop subsidizing renewables and let the freely compete. Most importantly get rid of the Fed and you won’t have inflation and boom busts if you go to the gold standard. We wouldn’t have shut down our economy throwing people out of work, nor would we have inflation which of course the Fed now is crushing normal Americans. You have the wrong enemy!
@@bluedog562 I didn't care about what you had to say so I didn't read it..
@@bluedog562 let oil companies compete unregulated and you don’t see any possible problems with that? You free market capitalists 😂
@@BlankManj5 not at all. The government has jacked the price up needlessly with their restrictions and regulations. Let the free market work and every single American is better off.
@@dominoep typical progressive sheep.
One huge point that was not made during this reaction and John Stewart's interview was the fact that oil got down to $17 a barrel in 2020 they bought it all of it so they could make up for what they lost
Corporate greed drives inflation.
There is no such thing as corporate greed. Companies want to make the most profit possible. Consumers want to buy at the lowest possible price. Companies can’t make more profit than consumers allow. The free market allows competitors to enter the market to limit corporations from gauging consumers. What caused inflation was the printing of fiat money. The Fed causes these boom and busts.
@@bluedog562 Are you aware that the private bank that the federal government gave power over our money (called "The Fed" although it is a mercenary not a government agency) just keeps printing more money? Consumers don't even KNOW how much profit companies are making, how could they "disallow" them then? When you need bread, you BUY bread, you don't "wait for it to get to 1c and then buy it" lol. When you NEED a distraction, you don't "wait 100 years until its the lowest price possible... but wait, then the price starts going up because it's an antique" lol. The whole USA economy is run and worked by really dumb people being fleeced.
Corporate greed doesnt exist. The eyeless cyclops insists 'nobody has made me blind"
@@nerag7459 sounds like a pithy response but I didn’t get your point.
@@bluedog562 So, let me get this straight:
You say there's no such thing as corporate greed, yet your very next sentence is the summarized description of the driving motive behind corporate greed, the very thing you say it doesn't exist.
You're just making our own point for us, you suck at this.
I love how the "side effect" is people losing their homes. The medicine works, but the patient died.
Like saying Trump solved the Covid problem by enabling all the deaths.
Capitalist economies are really complicated. We could fix that if we abandoned capitalism. But as long as we ARE living in capitalism, we can interpret this as a punishment for buying things for too much money. The mechanisms of capitalism don't really differentiate between rich and poor much. The system correctly punishes investors who bought homes when they were super expensive and made them even more expensive, but the collateral damage is people who weren't investors who bought those same homes at that same price to live in.
I've been semi-homeless for 3 years because I realized house prices were completely ridiculous and I'm not sure I should get punished for not buying an overpriced one. Neither should the people who really needed one so they bought it. The government should bail those people out because it gave them no choice. I don't need a bailout because I still have the money and I can buy one when the prices are solved. The investors should get no bailouts because they're investors.
Hey! The corporations are people too! 😜
@@alexmiesch4423 I'd be all for corporate personhood if they'd send one to prison for its crimes.
@@thewhitefalcon8539 Its a matter of -ism's ... Finding a balance by taking what is good , and disposing of what is bad within its fabric, is what will be hard earned.....
When the rhetoric is Socialism BAD....Communism BAD... well.. Capitalism is too....
To be taught a word is but a definition , with one meaning, without actually considering its origins, is like what happened in the US after WWII.. and into the 50's
The idea of Communism invading the US led to creating people being outcast, because their values were not acceptable... Propaganda by the US Gov, discriminating against all those that where true belivers in America... (for those that need be entertained , see the film Trumbo.. "Heisenberg" lol)
Fact is.. Socialism, communism , capitalism all are but a system, an idea.. But here we are, and when people are confronted with what they dont understand, say Socialism, well, If they despise it, maybe they'd stop using social media.
Mwhahahahahahha
Yeh.. Just a rant... But , Left or right.. even the out of control , know , the order of things needs top change.
Lets hope, we the people get them tp work for us... Fkd the corps.. Fk the Trumps... Fk the Establishment... And fk the interest on every dollar printed , interest we have to pay too..... Hmmmmmm Whom?
Truth is so refreshing
Corporate greed is what causes most of the economic problems
Just behind personal greed.
Your right. While normal Americans can't afford to go grocery shopping the CEO and there staff of most big companies are making record salaries.
I've never seen Jon Stewart so awesome before. He was meditating and powering up for 9 years.
When corporations get as much money as humanly and computationally possible, Summers calls it the market. When you and I do it, he calls it a problem.
It's kinda like how most whites feel about racial minorities: if whites get most jobs it's how the market responds to merit. But when blacks get more and better jobs, it's becomes a problem for whites.
They, the legislature, could easily raise corporate taxes if they wanted to soak up excess demand but they'd rather hurt the little people.
It isn't about hurting the little people at all, it is all about servicing their corporate owners. Hurting We The People is just a little bonus for them.
According to the Supreme Court, corporations have exactly the same rights as an ordinary citizen does.
That definition must also mean that corporations have exactly the same responsibility that an ordinary citizen has. So why not do away with corporation tax and tax corporations the same as ordinary citizens, giving corporations exactly the same write offs as the ordinary citizen gets.
As an ordinary citizen can be hit for taxes it hasn't paid over a number of years, these corporations should be liable for unpaid taxes on their incomes since 2010.
Of course at the same time subsidy's would have to be stopped from going to corporations who make a profit and instead go towards small start-up businesses to help them through the first difficult 5 years in operation.
That way there wouldn't be so many start-up businesses fail in their early years.
My guess is that corporations would be going to court to become non-citizens within two weeks.
Of course their case would have to go to the Supreme Court, where they would have to argue that the Supreme Court was wrong in its original decision to give them the same rights as an ordinary citizen.
I wonder how that would go.
Hey, people change, people grow. It's nice to see it from Jon Stewart. Thanks for your content!
Loved this interview and I especially love how Jon has been on an absolute tear lately the man is on his A-game and we need more of it.
What honestly sucks is NONE of the MSM outlets will even consider showing this because of the immediate ramifications, even though it's in the public's best interest.
The boomers especially need to see this, and sooner or later the pitchforks gotta come out if our governments don't get their acts together because this is NOT just an American problem, it's particularly bad here in Canada as well but also across much of Europe and elsewhere.
Except of course the Scandinavian countries because their governments actually work.
Right? Funny how the right always rails against socialism, yet those countries always kick ass in terms of quality of life.
I have worked In the service industry for over a decade. During the pandemic, most of the experienced people I i know ended up using that fallow period and financial cushion to learn new skills and /or finding a new career path. When the "free market " declared that workers wanted more for labor intensive service jobs , employers threw their hands up and said "nobody wants to work anymore". Its so glaringly obvious that our capitalist leaders don't want free or cheap higher education because they know so many people would utilize it and there would actually be a high demand for people willing to put up with customer service. But who are we kidding, that will just be outsourced to a.i. as soon as possible.
I've tried explaining this to people in my small town. Why don't people get it? I'm not educated and I figured it out.
You can NEVER have enough hypocrisy shaming!!
Even the biggest Apple fans willingly concede that Apple price gouges. It's the Apple tax. Everyone knows we pay more for the Apple brand.
Because they make high quality products. Disagree if you like, but that’s been my experience.
Yes, and that’s most brands. It’s a question of whether it’s worth it, and if there are alternatives. And sadly in many cases there is not real competition to stop that.
@@bobv5806 That’s not why it’s priced high. There’s a lot of psychology involved in marketing. And part of that is to sell to the customer that the “high quality” product is worth its price. There’s other phone manufacturers who don’t price gauge as much and the quality is on par and in some cases better (e.g. apples cameras in their phones are not the best when compared to other phone manufactures). Then apple also makes the products so that they can’t be fixed by a third party. So you are forced to go to the Apple Store. And their shtick is to get you to buy a new product. And when you do they they’ll refurbish your old phone/laptop/iPad and sell it for a profitable price.
@@Queldonus because the market isn’t truly free. Competition is ruined by the big corporations who own the market. In order to have a free market you need regulation that ensures it stays free.
When Apple was brought to the table it was just a massive diversion tactic.
Al that setup, he worked so hard, for John to say “YEEEEES! Absolutely I Do!”
Summers”Glub”!
The guy who has always held powerful people to account and called them out using his platform and comedy throughout his career sure has improved now. You really nailed it 🙄
When it comes to Jon Stewart, I can't think of a single thing we disagree on
When Emma said hypocrisy shamming , my first thought was these people have no shame, and that explains why that never works.
This is such a liberal-biased view, an "othering" of conservatives.
They do the same things that liberals do when confronted by hypocrisy; they make a "two wrongs make a right fallacy" to imply that they're doing wrong in order to make things fair. Or they argue that the standards aren't really equivalent so it's not truly a double-standard. Or they argue that you are also a hypocrite, an "ad hominem tu quoque" argument to try to discredit your ability to call them hypocrites.
It's not that they're "shameless" (at least, that's not always the case) but rather that they've resolved the cognitive dissonance to believe that they're not actually wrong, and people don't feel shame in doing right.
That doesnt mean you should stop exposing them, because the second you stop is over and they have won.
@@ramonserna8089 I mean I think we should stop exposing them because they're already pretty much exposed. Half of them expose themselves.
Sunlight doesn't work as a disinfectant anymore.
Pretty sure cauterization does tho.
@@jingbot1071 When you let them control the narrative then you are screwed. Modern empires are suntained on soft power. The idea that your current situation is your fault and there is nothing you can do about it.
@@ramonserna8089 But they already do. And I don't know if soft power is going to hold if Rome 2.0 pops off.
Dude I consume A LOT of news….like A Lot A Lot of news…Emma, your throwaway line about why Bankers don’t like inflation (making their investments in our debt less lucrative) is the first time I have heard that explicitly. Thank u for all that u do!
13:36 Summers thought he had him with this one! Lol
He didn’t think Stewart would criticise Apple for being massive price gougers.
Summers revealed three things in employing that tactic:
1. He knew he was in trouble
2. He doesn't understand Stewart at all
3. With Jon's response he was shocked to realize he's in far more trouble than he thought
He obviously never watched his show before, he was never afraid of shitting on Comedy Central or their parent company.
Great description of Larry Summers in the title, bravo!
Summers is one of the ones that talked Obama into bailing out the banks, and not the customers.. I had gotten behind on my mortgage and was able to catch up with the help of a friend. But the mortgage company wanted no part of me or my money. Because they were getting the entire loan paid off by the government, they did not want payments. Lost my home where I had raised my family. Thanks Larry Summers !
To be fair:
Bush bailed out the banks, Obama bailed out the auto companies. And you're probably thinking of Henry Paulson.
@@chrisv741 was there. I am a news junkie and that is not how I saw it.
time to wake up. Obama lied about being a progressive, hell he even admitted it ffs.
There's more to your story, I'm sure.
Obama bailed out the banks. His Treasury Secretary Geithner is quoted as saying his goal was “Foaming the runway for the banks”. The home owner is merely debris
Y'all are spittin' facts to people who neither understand nor CARE about those facts...
Keep it up. This is necessary work.❤
Bro basically said "Some of you may die, but that's a sacrifice I'm willing to make".
Who was that? Zapp Brannigan or Robot Nixon?
@@22steve5150 Lord Farquaad
@@AngryShooter Ah yes, now I remember. Thx.
Can we stop with the hyperbole by pretending we can "embarass" or "own" or "destroy" these people?
They have no shame to begin with
Define woman
Woman is a gendered term in the same way "man" is a gendered term. It can be both descriptive (there is a woman over there) and offensive (you stupid woman; you're acting like a woman; etc). It can also be diminutive (you're acting like a woman, you need to man up).
Therefore, woman does not mean "female." Female is a term relating to sex, NOT gender.
Your turn. Define "man."
@@peterclarke7240 So you're saying women didn't exist before John Money invented gender a few decades ago....
JOHN STEWARD MILDLY ANNOYS FINANCIER
@@alabamaman5994 An adult female human being. Any other stupid questions, Aaron?
The you and me part its comical. Like being a celebrity is on par to an oligarch.
It must have been hard for Jon not to throw up on this guy.
I enjoyed Majority Report commenting on this interview. John at his best, telling off corporate greed! May God bless him🙏and all of us. You guys were great! Thanks for good reporting!
When have these economic experts ever been right about anything relative to the people's problems?They don't know the difference between capitalism and corruption!
Economic experts are right lots of the time. Especially the good ones. I'm guessing Summers does know the difference between capitalism and corruption. But you know differently. How's that?
Because they're aren't worried about "the people's" problems. They're worried about "their people's (oligarchs) problems.
There is no difference. Capitalism is an economic system by and for owners of capital. Of course they are going to have undue influence on government. That’s the point. There is no good capitalism. There is only capitalism tempered by the victories of Labour and the left.
They know the difference, they just don't care. Neoliberalism screwed Bill Clinton. So what that Bill "balanced the budget," as Rethuglicons today love to promote. It only brought us closer to becoming what we are today: a country where our inequality has never been worse!
Bill Clinton screwed the poor and the neediest by severely cutting social programs while passing out taxpayer subsidies to the greedy rich. This is Summers' economic bible. He's one more narcissistic sociopath.
How do people trust corporations more than our government at this point? We need to nationalize some of our resources.
i agree, the problem with that is that usually the incompetent people overseeing the public/government resources are left in charge and are bought and sold and the systems fail in a totally new way. I'm fully convinced term limits and salary caps, along with no social media use as a politician is the way to start stopping the rot
....won't, work. The soul-less, devils will still find a way to mismanage anything nationalized, the same as they do Social Security
Nah, reinforcing worker rights and significantly strengthening labor unions is the way to go. Nationalizing resources is just going to result in a different group of political oligarchs getting their grubby hands on the resources. Moving the resources from multiple greedy corporate overlords to a single greedy government overlord isn't going to help. Your method puts a lot of trust in the same people that allowed this system to be created in the first place, then expecting them to do the right thing.
Simple answer: Marketing.
The same marketing that states "Nationalizing our resources" = Socialism.
Well you see that would lead to gulags so
Hey! That Rally to Restore Sanity was freakin' hilarious! lol
so much fun in person.
I love how Larry tried to turn the “price gouger” mirror on Stewart for hypothetically demanding more money for his talent.
Larry completely missing the fact that Stewart wouldn’t be the corporation in that scenario; he’d be the labor force AND the product, as is always the case with entertainers. Stewart could have nailed his ass to the wall on that one.
liberals are all hypocrites. in a capatalist economy government does not control prices. The fact stwert thinks corporations just suddenly got greedy when joe biden became president. What happened is they dumped so much money into the economy so much money that everything went up in price. What your not asking is where the hell did all that money go, 100 billion could pay off the debt of all medical bills of US people. they spent 5 trillion and not a diume went to the people it was all stolen.
well said
& to Larry's no college degree comment, the stimulus/unemployment payments was the first time in my life that life felt like even though there's a crisis, I still felt like things were gonna be ok. September 2020 I got a new job because the benefits were cut 50% & I could feel the government was angry that poor ppl got their lives in order. 2021 to July 2022 (when my job gave me a raise) was the WORST portion of my life for mental health. I was contemplating suicide. The only reason I'm here is because I have a 13 yr old daughter that loves me. Summers can f*** off with that bullshit
amen
Oh my god when he started the "Apple is evil" ramble I was sooo "THAAAAT'S THE POINT," and I am very happy that is what JS responded with.
11:45 Jon Stewart looking at Summers the way you do when you've just found a turd on the kitchen floor after a house party.
😅😅😅😅😅😅❤
Great stuff. They always want to blame the workers, reduce wages, cut jobs, etc. But it is ALWAYS corporate profits and greed that are the problem.
What did Nixon tell us to follow...?
That was incredible, Larry’s look to Jon when he asked “Do you think Apple is gouging?” And Jon said Yes, Priceless!
He did Not expect that!!
weird that he had that Apple stat in his pocket for when he felt cornered...
And let's be real, this increase in fed rates benefits banks because higher rates mean better returns for banks at all levels. This is not just about disciplining labor, but profit taking for the financial system itself.
Interest rates are still historically low. My savings has taken a huge hit with zero interest rates. About time I make 4% or more on my savings.
Tell that to SVB etc...
Stewart - you just made my point for me.
Brilliant line. Summers was stunned.
Wasn't he the Harvard president portrayed in The Social Network as saying Facebook would only amount to very little? Didn't he elude to his former position as treasury secretary as being an authority on something like that? Isn't Facebook worth like billions and billions of dollars? Like one of the wealthiest corporations in the world? Should we really be listening to Larry Summers?
Allude.
This guy, Larry, is like the last century psychiatrists who said, the problem, dear, is not your cheating husband. It’s your anxiety. Here is a bunch of Xanax.
If anything that's too charitable. Psychiatry, in contradistinction to economics, is at least not a _completely_ unmitigated pseudoscience.
Minor correction: Summers was briefly Secretary of the Treasury (1999-2001) under Bill Clinton. He served the Obama administration as Director of the National Economic Council (2009-2011), after serving as President of Harvard University (2001-2006). [He was forced out at Harvard after a no-confidence vote of the faculty]. Apart from the mislabeling of the clip, the clip itself and Jon Stewart are great!
Jon Stewart is my hero! He’s the best!
He's getting better.
Jon Stewart in the purest form.
The real old guard. He was lost some where during pandemic.
@@alexryan43244 most of us were lost then.
This interview was, well, weird though.
Jon brought up good points, however, those points weren’t really part of the conversation.
He sat here with a question about what The Fed can do about inflation, which isn’t much, interest rates are it, and he hit about other matters…which are all valid, but, not really relevant to the matter at hand.
It’s like asking the owner of McDonalds what they can do to make the food better, getting an answer to that question, then rebuttal that Wendy’s and Burger King have problems and that McDonald’s should fix those too..
It’s just weird where it went.
His politics haven't changed. You have. I've been following Joh Stewart forever.
The last time we had corporate gougers, we had "windfall profits tax" imposed. Try getting THAT through Congress!
No truer words than Emma's point at the end. The rich always, always, always prescribe punishing labor. Labor causing inflation? Crush labor. Corporate price gouging causing inflation? Crush labor.
Emma is rich, she should know.
I can't relate in text how fast I'd support Jon Stewart in any political platform that he would venture into if he ever decided to step into one.
You just made my point for me. Do you think that Apple is gouging people? YES! I ❤❤❤ this! I mean, just pure gold from Stewart. Huge respect.
Brilliant interview.
Funny thing: why is only his solution has side effects for people on lower wages. Haven’t the people already swallowed a lot of inflation and price hikes. And corporate hasn’t had so many issues I believe. When are their side effects kicking in? 🎉
10 of the top10 wealthiest per capita Congressional districts... and 17 of the top 17... and 26 of the top 27... and 43 of the top 50...
All vote DEMOCRAT.
@@alabamaman5994 keeping it simple I see.
@@alabamaman5994 And yet, Republicans are consistently worse on economics...across the board...for people of lower wages.
Sadly that is true and their anger is what Trump managed to tap into and con them so effectively and that is the side effect
@@alabamaman5994 The democrats are a center-right party... something Americans don't seem to understand: there is a far right (Reich) party, the GQP, the Democrats, which are a center right-party, and 1 guy, Bernie Sanders, on the center-left. AND THAT"S IT! The United States has zero left-wing party representation, to say nothing og Green, or other party representation. The right in the US however has gone so far to the right, that they think the center is the left, IT ISN'T!
14:05
*Larry:* "do you feel that apple is gouging or doing something wrong"
*Jon:* "Yes! Of course!"
*Larry's thoughts:* "did he just insult the platform he's on!? That wasn't in the playbook! CRAP! Avert convo! Avert convo!...I've probably been quite for a while. I need to say something!"
That'll be a paddling!
Walmart $ .99 cent bread went to $ 1.50.
Burger King breakfast deal was $5 now it's $10.
So that's what they mean 8% inflation.😂😂😂
lol the body language at 8:05. Arms crossed, grinding teeth. Ya mad, Larry?😂
Didn't Lawrence Summers explicitly fight regulation of financial market instruments like derivatives proceeding 2008 crash? He was flat out 100% wrong and really helped bring on the crisis of insane gambling by Wall Street.
And yet OBAMA ADMINISTRATION held him in high esteem & part of Barak's inner circle
He aided Bill Clinton into cutting our social safety net programs like welfare, making the poor more poor. Bill clinton followed Summers' philosophy on dangerous destructive neoliberal economics--the austerity for workers & poor while the rich keep getting bailed out & subsidized.
@@chrisbuck7520 Thank you!!! I wish more Americans would bring this up! Too many leftwing voters have stars in their eyes over "charming" Obama and Michelle. Michelle was a corporate lawyer who worked fighting FOR corporations against The People in a high powered "silk stocking" law firm.
Aaah, but Obama was just the greatest president...🤮
@@chrisbuck7520correct. And Obama made a lot of mistakes when it came to the bailouts. But to be clear, the Bush administration ran the economy to the edge of the cliff and jumped out of the car, handing the crash to Obama. The crash itself, and a large part of the bailouts took place prior to Obama swearing in.
The lollipop metaphor really hits the nail on the head.
Larry Summers agree to it because he thought he had a trump card with the APPLE bit. He really thought he was gonna trap John and make him back down because his new show is on apple+. The look on his face was priceless