Chris Martenson on Budget, Corruption, Economy, Investing, Energy, Japan Nuclear Crisis (1 of 2)
Posted by admin in Finance Saturday, 20 August 2011 08:49 25 Comments
–Chris Martenson, economic researcher and futurist joins us live in studio for the first part of a discussion about the budget, economic situation, Wall Street, corruption, energy, the Japanese nuclear crisis, and more. –On the Bonus Show Is Libya hiring mercenaries, kid served alcohol at restaurant, does alcohol help memory, and more. The David Pakman Show is an internationally syndicated talk radio and television program hosted by David Pakman www.davidpakman.com http www.facebook.com www.twitter.com feeds.feedburner.com 24/7 Voicemail Line & Studio Number: (219)-2DAVIDP Broadcast on April 14, 2011
i believe we should invest in Americas Future rather than investing in more issues. our dependancy on foreign oil supply has literally drained us Americans financially. it has also increased prices on most of our everyday needs and wants like food and gas. for more information on how to pitch in as Americans and make the investment that WILL change and improve us as americans, take a look at my awe-inspiring video on my page. please no judgments before you watch.
♥ #Liberty ☼ #Libertad ♫ #Freiheit ♪
@greycloud24 real quick. numbers came out for japan today and they had a trade deficit for the first april in 31 years. i believe it was bc they debased their currency and made it harder for their citizens to rebuild from the earthquake and was a mistake. and i totally agree with you about the us china situation… the benefit of the us consumer is to the detriment of the chinese consumer and the benefit of the chinese production capacity and infrastructure was to the detriment of that of the us
@phroto13 china is built on exporting goods. by cheaply exporting goods to other countries they corner the production market (or at least they did once upon a time). this encourages people to invest in production companies in china. this gives china money to build infrastructure and employs their citizens. china grew a lot by “propping up the US consumer”. it wasn’t so much “propping” as leaning on each other. international economics is not such a one sided story.
@greycloud24 neither the EU or US seem like good investments as they both are defaulting on their debts… both through bailouts which again inflate the money supply driving cost of living up and quality of life down… the chinese get nothing but US treasury bonds in return for the goods they send across the pacific, and those dollars are losing value every day… japan is in a similar situation, but they have the same foolish central policy of propping up the US consumer but to a lesser extent
@greycloud24 no china artificially keeps its currency low in comparisson to the dollar by printing rnb as it buys treasuries. this expansion of the supply of rnb is inflation. deflation is a contraction of money supply… but the fact that they do this does help them export, however if the rnb were allowed to appreciate then americans and europeans would be priced out of the market by a more competitive chinese currency adn the consumer goods that reach our shores would end up on chinese shelves
@phroto13 china and japan will not face economic collapse with us only if they invest in the EU. china is successful only because it artificially deflates the value of its currency allowing it to export products to other countries. it may become self sufficient in the future, but right now it does not have the infrastructure to become self sufficient and is dependent on exports. japan is dependent on exports as well, but more so on imports. japan needs the US and china for food.
@greycloud24 and the fact that china and japan will collapse as well is far from the truth… japan and china are creditor nations and their citizens save, they also have huge manufacturing bases of things that they can consume. the us is a country of indebted citizens with an indebted govt and no manufacturing base. we have to import any goods that we need for our daily lives and have no savings to fall back on for a rainy day.
@greycloud24 @kwb70652 SS is not a separate budget… it has been ruled by the supreme court that it is a tax… and ultimately its a ponzy scheme. it relies on the newcomers to pay the checks of the older clients. when the baby boomers retire there will be more payers than payees… also the social security trust fund is a sham. it is a bunch of treasury bonds that exist as a debt from congress to the treasury who borrows on behalf of congress… DO NOT RELY ON SS FOR YOUR RETIREMENT!
Shut down the US Welfare Police State!
@greycloud24
the entire world is on the global economic titanic. You know this.
david simons was right
@greycloud24 Thanks, I was thinking the same thing. Everything I’ve heard says SS is solvent and is fine for 30 years, so some adjustment may be necessary, but it is not currently adding to the deficit.
I think the problem is no one can agree on anything. We would be arguing even while a mushroom cloud is going off in the distance.
I wonder what people argued about in 1870′s or 1795?
Can’t we agree that the term should not be “defence”? It’s MUCH more akin to “offense” isn’t it?
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Quality of life in the USA is going down in flames any moment. All those people who are raised in suburbia and hide behind a rhetoric of “we’re number 1, we’re number 1,” you better enjoy your final days! When the next crash occurs there will only be the rich and the poor and the Tea-party won’t help you then because they are all rich anyway.
@D0nutHutSlut oh wow it looks EXACTLY like the VB symbol xD thats kinda sad and funny at the same time
social security pays for itself and was already payed for by taxpayers. it should be considered a separate budget entirely. it is a separate tax, its not part of your income tax. this should not be considered like any of the other issues. medicare, medicaid and social security should remain untouchable as the funds for these programs are payed for with social security. any cuts in these should be done in concordance with imprisonment of congress members for fraud and embezzlement.
what this guy is failing to mention is that right now if america falls, than japan and china fall with us. western europe cannot afford to have china fall. so the european union also cannot afford for us to fall. now that japan is having such a disaster china is even more dependent on us. china owns so much of our debt that if the value of the dollar plummets, than their economy crashes with us and they are unable to export goods.
@hawk44256 In the lower right corner? That’s Pakman’s symbol that is a d and p linked.
am I the only one who sees the visual basic symbol on the screen?
If he doesn’t mention raising taxes, then he’s not credible on this subject.
Scariest video I’ve seen in a long time.
But he seems to have forgotten that the Great Depression happened, and you guys are right about social security, so I’m not sure how right he is…
@RetiredBard I have basic respect for Ron Paul in that he seems genuinely earnest & honest about his beliefs & agenda. I just think he would at best maintain the corporatist status quo & at worst increase the power of big biz even further. I’m with you in not knowing if he would be any more dangerous than the rest. I wish there were actual liberal candidates that had a chance of getting elected president. The problem is most of the corporations that fund campaigns & own the media aren’t liberal.