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01:51:38 09/19/11
Ron Paul's Texas Straight Talk 9/19/11: Government as a Venture Capitalist
[LESS INFO] 0 VIEWS | ADDED 01:51:38 09/19/11
http://RonPaul2012.com http://paul.house.gov http://CampaignForLiberty.com http://DailyPaul.com http://RevolutionPAC.com In January 2009, the administration claimed that if Congress passed a rush stimulus bill, the United States would be saved from economic catastrophe that was threatening to send unemployment figures above 8 percent. Government stimulus was the answer and if we cared about our country, we would set aside our reservations and do what needed to be done to pass the bill. Congress passed the bill. Unemployment continued to go up and has been well over 8 percent ever since. (In fact, economist John Williams of ShadowStats finds unemployment to be closer to 23 percent using traditional methodology.) Yet some are claiming the first stimulus worked and all we need to bring back prosperity is more government stimulus. Stimulus might appear to work for some people for a short time. It worked for a short time for Solyndra. For a time, they could pretend to be engaging in productive activities that would help the economy. For a time, unemployment was 1,100 people less. But the recent bankruptcy of Solyndra shows that the government is a terrible venture capitalist. This charade cost the American people over half a billion dollars they could not afford, yet there is no mea culpa. The administration is not questioning its calculations, or how they could have been so wrong on their unemployment predictions in the wake of the last stimulus. Instead, they want more money. Once again we are hearing the cry that if we care about our country, we will approve more spending and more taxes and that will create more jobs. They promise. Yes, you could have gone to the Solyndra factory and you would have seen jobs. What you could not have seen were the productive jobs that were never created. Real venture capitalists make decisions based not on politics and photo opportunities, but on complex economic estimations of risk and reward. They don't simply throw piles of other people's money at a factory and expect magic to happen. The uncreated jobs you can't see might still be around. Instead, we have more government debt which will lead to more inflation and more taxes. These, in addition to an already hostile regulatory environment, only add to the burden and risk of job creation in the private economy. It has been said that when all you have is a hammer, everything is a nail. Our government is full of people who sincerely believe big government and more spending is the answer to every problem. They automatically look to government for every solution. Government is their hammer, and all they know to do is to keep hammering. When government "solutions" still don't solve the problems, they are unfazed. They keep calling for more government, more laws, and more programs. Americans are tired of being treated like nails. This government-centric mindset is the root of the problem. People who think this way are naturally drawn to politics and government. To them, the Constitution is an annoying road block, something to get around, or ignore. We must become interested in real, lasting, productive jobs - careers that allow families to build up a solid foundation of prosperity and economic security - not pretend make-work government jobs that waste resources and vanish overnight. We have to choose one or the other.
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01:51:38 09/19/11
Ron Paul's Texas Straight Talk 9/19/11: Government as a Venture Capitalist
[LESS INFO] 0 VIEWS | ADDED 01:51:38 09/19/11
http://RonPaul2012.com http://paul.house.gov http://CampaignForLiberty.com http://DailyPaul.com http://RevolutionPAC.com In January 2009, the administration claimed that if Congress passed a rush stimulus bill, the United States would be saved from economic catastrophe that was threatening to send unemployment figures above 8 percent. Government stimulus was the answer and if we cared about our country, we would set aside our reservations and do what needed to be done to pass the bill. Congress passed the bill. Unemployment continued to go up and has been well over 8 percent ever since. (In fact, economist John Williams of ShadowStats finds unemployment to be closer to 23 percent using traditional methodology.) Yet some are claiming the first stimulus worked and all we need to bring back prosperity is more government stimulus. Stimulus might appear to work for some people for a short time. It worked for a short time for Solyndra. For a time, they could pretend to be engaging in productive activities that would help the economy. For a time, unemployment was 1,100 people less. But the recent bankruptcy of Solyndra shows that the government is a terrible venture capitalist. This charade cost the American people over half a billion dollars they could not afford, yet there is no mea culpa. The administration is not questioning its calculations, or how they could have been so wrong on their unemployment predictions in the wake of the last stimulus. Instead, they want more money. Once again we are hearing the cry that if we care about our country, we will approve more spending and more taxes and that will create more jobs. They promise. Yes, you could have gone to the Solyndra factory and you would have seen jobs. What you could not have seen were the productive jobs that were never created. Real venture capitalists make decisions based not on politics and photo opportunities, but on complex economic estimations of risk and reward. They don't simply throw piles of other people's money at a factory and expect magic to happen. The uncreated jobs you can't see might still be around. Instead, we have more government debt which will lead to more inflation and more taxes. These, in addition to an already hostile regulatory environment, only add to the burden and risk of job creation in the private economy. It has been said that when all you have is a hammer, everything is a nail. Our government is full of people who sincerely believe big government and more spending is the answer to every problem. They automatically look to government for every solution. Government is their hammer, and all they know to do is to keep hammering. When government "solutions" still don't solve the problems, they are unfazed. They keep calling for more government, more laws, and more programs. Americans are tired of being treated like nails. This government-centric mindset is the root of the problem. People who think this way are naturally drawn to politics and government. To them, the Constitution is an annoying road block, something to get around, or ignore. We must become interested in real, lasting, productive jobs - careers that allow families to build up a solid foundation of prosperity and economic security - not pretend make-work government jobs that waste resources and vanish overnight. We have to choose one or the other.
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02:01:53 07/09/11
Global Capitalism May Update
[LESS INFO] 2 VIEWS | ADDED 02:01:53 07/09/11
These Tuesday evenings begin with an update and analysis of major economic events of the last month and their contexts of longer-term economic trends shaping politics and society here and abroad. We focus on the evolving global capitalist economic crisis and its consequences. We examine topics such as the social costs effects of the historic long-term US unemployment, national debt crises and “austerity programs” in Greece, Ireland, Spain, and beyond changes in today’s Chinese economy and their global effects, tax reform and the entire tax issue in the US today, continuing crisis in the US housing and credit markets the economics of immigration Actual economic developments shape the agenda for each monthly Tuesday meeting. Rick Wolff, with occasional guests, presents an economic update and an analysis of some particular economic topics and then open the floor to questions, comments and a general discussion of where the US and world economies are going and the political implications. We aim to develop participants’ understanding of and ability to explain to others the key economic developments of our time. Richard D. Wolff is Professor of Economics Emeritus, University of Massachusetts, Amherst where he taught economics from 1973 to 2008. He is currently a Visiting Professor in the Graduate Program in International Affairs of the New School University, New York City. He also teaches classes regularly at the Brecht Forum in Manhattan. More info can be found on his website: rdwolff.com
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18:00:01 06/30/11
Global Capitalism April Economic Update
[LESS INFO] 1 VIEWS | ADDED 18:00:01 06/30/11
with Rick Wolff These Tuesday evenings begin with an update and analysis of major economic events of the last month and their contexts of longer-term economic trends shaping politics and society here and abroad. We focus on the evolving global capitalist economic crisis and its consequences. We examine topics such as * the social costs effects of the historic long-term US unemployment, * national debt crises and “austerity programs” in Greece, Ireland, Spain, and beyond * changes in today’s Chinese economy and their global effects, * tax reform and the entire tax issue in the US today, * continuing crisis in the US housing and credit markets * the economics of immigration Actual economic developments shape the agenda for each monthly Tuesday meeting. Rick Wolff, with occasional guests, presents an economic update and an analysis of some particular economic topics and then open the floor to questions, comments and a general discussion of where the US and world economies are going and the political implications. We aim to develop participants’ understanding of and ability to explain to others the key economic developments of our time. Richard D. Wolff is Professor of Economics Emeritus, University of Massachusetts, Amherst where he taught economics from 1973 to 2008. He is currently a Visiting Professor in the Graduate Program in International Affairs of the New School University, New York City. He also teaches classes regularly at the Brecht Forum in Manhattan. More info can be found on his website: rdwolff.com
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02:26:17 05/25/11
Global Capitalism A Monthly Update & Discussion
[LESS INFO] 3 VIEWS | ADDED 02:26:17 05/25/11
These Tuesday evenings begin with an update and analysis of major economic events of the last month and their contexts of longer-term economic trends shaping politics and society here and abroad. We focus on the evolving global capitalist economic crisis and its consequences. We examine topics such as * the social costs effects of the historic long-term US unemployment, * national debt crises and “austerity programs” in Greece, Ireland, Spain, and beyond * changes in today’s Chinese economy and their global effects, * tax reform and the entire tax issue in the US today, * continuing crisis in the US housing and credit markets * the economics of immigration Actual economic developments shape the agenda for each monthly Tuesday meeting. Rick Wolff, with occasional guests, presents an economic update and an analysis of some particular economic topics and then open the floor to questions, comments and a general discussion of where the US and world economies are going and the political implications. We aim to develop participants’ understanding of and ability to explain to others the key economic developments of our time. Richard D. Wolff is Professor of Economics Emeritus, University of Massachusetts, Amherst where he taught economics from 1973 to 2008. He is currently a Visiting Professor in the Graduate Program in International Affairs of the New School University, New York City. He also teaches classes regularly at the Brecht Forum in Manhattan.
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16:57:49 11/28/08
The Capitalist Economic Crisis
[LESS INFO] 0 VIEWS | ADDED 16:57:49 11/28/08
This is an exploration of the background and causes of the Capitalist Economic Crisis and what should be the response from workers and pensioners. I had composed it initially in powerpoint and then followed that up with reviews and re- editing. So for the experience, I transposed the presentation into video format. it scrubbed up rather nicely I think and I'm sure to be doing more of the same.
