I disliked the anti-Semitic overtone.

Excellent observation Rozar. Like all technology it can be used for good or ill.

overspending AND non-productive spending as a larger percentage. agreed

I'd like to point out the analogy in the video referring to atomic energy, and how it can do great things for civilization when it isn't perverted.

Very interesting material. Thank you for the contributions. I do not see the antisemitism you see. Perhaps I am not looking with such a cynical eye... What, if anything, do you see as redeeming in the video?

Absolutely. The promises of a more stable economy by virtue of a Federal reserve, have proven to be false and history has shown that the economy has become more unstable, while our money is losing value due to their tampering with the supply....

You are correct. You can not create prosperity buy building airplanes and crashing them into another country.

once we're in it, I want to win it

Ah, but escape is becoming harder and harder to accomplish. The proliferation of moochers and bums will overwhelm the ability of producers and force a Darwinian contraction, such as was seen in the final chapters of AS. Even those who purpose to not become as those will fall victim. Malthus was correct. It's just we have been able to stay ahead of the curve by geometric advances in production but the parasites can grow exponentially.

Interesting stuff, Mike. Certainly an arcane subject to be sure. Although I could have done without the socialist/communist cant of the last paragraph. The facts will speak for themselves without the embellishment of propaganda-speak.

I note with interest your authorship of the 4th article cited. Well done.

:-)

I hope I earned it. :-)

If you think that war brings prosperity in any way, shape, or form, then you know very little about economics. Even if the economics were difficult, reasoning from first principles should lead you to suspect that the unreal and irrational are unworkable. Therefore anything you were told about "prosperity" coming from "mobilization" has to be a lie, even if you could not pinpoint the actual data.

The mobilization for WWII was the catalyst for America's final recovery from The Great Depression...10 years behind the rest of the world.

The liberal social engineering prior to 1941 was otherwise doomed to keep us in that economical hole.

You say that like World War II was a good thing. Ayn Rand was not so sure.

also, I rarely confuse things, especially monetary issues

j, public debt just like private debt can be good or bad. for instance, we would have never won the Revolutionary War or WWII without public debt. It is not debt that is the problem, it is the SPENDING. wasteful spending , spending to buy votes, steal money for political purposes, etc. is bad whether it is financed with debt or taxes. Good debts are those which are necessary to protect the citizens, the people of the country. Not all companies which fail, made bad decisions. the debt or other collateralization was not wasted or wrong.

You are confusing private debt with public debt. In the eighties, I witnessed many semicon companies go under. Demise is the price a company pays inefficiency. Public debt is being shoved down our throats,along with the throats of our children, grandchildren, and those not yet thought of. Impossible to repay public debt always leads to war and misery for the screwed but not for the theives.

Me too :)

Thumbs down on this. (Thumbs Up to khalling for her comment.) In fact DEBT is the SEED OF CIVILIZATION. (see here: http://necessaryfacts.blogspot.com/2011/...)

If you scrape the surface, you find a lot of anti-Semitism here, also. These crypto-Germanophiles want some kind of mystical VolksEkonomie based on farming and barter. Commerce, trade, banking, and civilization depend on something else (See here: http://necessaryfacts.blogspot.com/2011/...)

It is cogent that Midas Mulligan (not John Galt) was actual Prime Mover of the Strike. As a banker, Mulligan looked to "make money from debt" as this video complains.

As a numismatist, I assure you that GOLD COINS had very little to do with capitalism. American was built on paper promises. (See here: http://necessaryfacts.blogspot.com/2013/...).

The Federal Reserve has a lot of problems, but being a bank is not one of them. The idea of a "bankers' bank" and a "bank of last resort" has sound capitalist commercial foundations. In his plagiarized works, Murray Rothbard tells the story of the Suffolk Bank. (See here: http://necessaryfacts.blogspot.com/2012/...)

Most people call it "coin collecting" and think of old Uncle Frank pushing identical Lincoln Cents into a blue Whitman folder. In fact, numismatics is the art and science that studies the forms and uses of money (see here: http://necessaryfacts.blogspot.com/2011/...) and it shows that this anti-capitalist, anti-Semitic, anti-banking volksekonomie is the hallmark of the limited mentality of the the conservative muscle-mystic who thinks that Atlas Shrugged is a just a diatribe against liberals.

kh or mm would either or both of you explain how the $17 trillion in Federal debt will be repaid? Would either or both explain how the approx. $70 trillion in mandated payments will be met? How about the global debt of $51 trillion and growing?
http://www.economist.com/content/global_...
How has debt helped Detroit? I don't understand.

You are confusing debt(which is collateralization) with over-spending. I am not defending overspending, and I am certainly not defending legalized theft. Without debt or collateralization there would not have been a spice trade. We would have never built out a power grid. The semi conductor industry would not have been built. Bio technology, internet, automobile industry, etc. New technologies require the ability to collateralize intellectual property, in order to commercialize them, make them available which is what makes us wealthier on a per capita basis. It is important to identify the root causes of our problems and not destroy the system which in 200 years has resulted in most of mankind escaping the Malthusian Trap.

More evidence that this video is ignorant
Numismatics informs Economics.
http://necessaryfacts.blogspot.com/2011/...

BTW: I know that some control is lost, but this opened up for me with advertisement for the Bible as an app.

You got voted down. I put you back up.

If you have your kids think things thru to their logical conclusion instead of jumping on the band wagon of emotional, knee jerk, reactions that's half the battle (or maybe 80%). If when they question us (their parents) and instead of saying "because I said so" we give them a reasoned answer they will grow up questioning authority and expecting reasonable answers...and will demand them some day. Sticking to principles, sticking to a budget, not being afraid to say, "No we can't buy that because we can't afford it, or have more important things to buy." they will respect a money and how it's earned. There are many ways to teach kids to think for themselves and it starts with letting them ask questions and giving them appropriate consequences for choices not well thought out and discussing that process. My oldest son challenges me all the time. Undoing the altruist damage that society and school crams into them isn't easy. He is an adult now and his life is his own. He likes to debate so... that's a good sign.