Biden's Economic Adviser Tries and Fails To Explain How Money Works
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- Опубликовано: 2 май 2024
- Jared Bernstein, economic adviser to President Joe Biden, struggles to explain why the U.S. government chooses to borrow money when it can just print more.
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This is our country's economic adviser? God help us.
Now you see once again that the Biden Administration consists of only the most absolutely unqualified individuals
He's the chairman of the Council of economic advisers, so apparently there are several of them and he's the smartest one
He's also a rep for Brawndo
You explain it then
Jared (((Bernstein)))
What an effing joke we are as a country. Breaks my heart.
It all makes sense though
Are we even a country at this point?
@@SoCon. na just a corporation
@@SoCon.😂😂😂 You deserve Better ❤
This is terrifying!
This is embarrassing AF and a fail on so many levels.
its scary.
If you look on Wikipedia, this man’s education was a bachelor’s in music and a master’s in social work. Then he became a senior official at a liberal economic think tank.
anything interesting in his early life?
He took this high position because he is a jew
Top man for the job!!
Good lord! Imagine him and Biden in a meeting together. They probably just eat oatmeal and ice-cream. We're living in a clown world.
While eating ice cream and oatmeal, they swap stories about molesting children.
🤡 🌎
And shit their pants.
😂😂 You are right
It’s actually possible that I know more about economics than the US Chair of those Council of Economics. That is terrifying.
It would be embarrassing not to.
What the actual fuck!
So this is what bidenomics is
The same economic playbook has not changed for decades. Republican or Democrat makes no difference. Don't kid yourself.
Our scandalous economic monetary system didn’t start with Biden. It goes back 100 plus years.
It’s a system that enriches the banks and those in finance. It’s a system that increases the wealth gap. When money supply inflates, asset prices and consumer prices go up. Rich people own the assets. So the rich get richer while everyone else gets inflation.
Yeah cuz it's totally not gotten any worse in the last 4yr yeah keep kidding yourself bud ironic you used that line 🤣@@channel1_channel
@@channel1_channel Sooooo...I guess they're not going by the playbook now? Kinda shows huh...
Nah, just neoliberal economic policy put in place after ww2.b it has nothing to do with any single administration.
The one confused is the one talking. This is a good example of what the Biden Administration looks like.
I don't think the Trump administration would do much better
@@grantmcalpine6364 I believe he will close the border , make the country energy independent again, won't make the country look weak in the eyes of the world, won't get lost when leaving the stage, will be able to read a teleprompter if needed, and Make America Great Again.
@@grantmcalpine6364 They all need to go
@@nanticokeroads8966 Lol, he made America the laughing stock of the world. They really all need to go. Trump is not the answer.
@@grantmcalpine6364But he did!
Clearly he plagiarized this from Kamala Harris. 😂
Good one.
No. From Idiocracy's President Camacho.
He has a BA in music and a PhD in Social Work. Now it makes sense…sort of. I don’t have a good answer as to why he dabbles in economics. lol.
And with those ABSOLUTELY UNRELATED degrees/qualifications, he even went on to teach economics at Harvard, NYU, and Columbia University. Absolute clown-world shit😂☠️ I have an erie feeling that the Biden admin ethnically-profiled him just bc he's of Jewish descent.
Same reason Hunter Biden found himself making $50,000 a month sitting on a board of executives for a Ukrainian oil company. It's all about who you know.
Social "anything" majors should stay far far away from anything resembling economics. Sociology is just academic socialism at this point.
@@razzberry1262 wow so not only do you not know what socialism means
You also don't know what sociology is
That's the American (lack of) education system for you!
It's not his degree that's the problem - it's him being elevated to a position he's or qualified for due to scheming, nepotism and general political shitfuckery
Or he's there specifically for this reason: to confuse people
This guy doesn’t know anything about economics yet he is the country’s economic advisor oh my gosh 😢
Par for the course.
BS..he knows exactly what he's helping to do..STEAL AMERICANS MONEY!
But clearly, he gets it....
Oh he knows a lot about economics. Its just all wrong, about 180 degrees off. We are talking idiocracy levels of stupidity.
ruclips.net/video/WT9RJxqDIAI/видео.html
@MubarakIsmaiLSD
DEI hire.
SNL has put out a statement flatly denying that this is a discarded video/sketch they decided not to include in one of their shows.
I JUST checked this guy on Wikipedia…,he has NO DEGREE IN ECONOMICS…HE was a MUSIC MAJOR and a bassist in NYC. OMG.
And he wrote a piece a few years ago in the New York Times advocating for the collapse of the US dollar
But he's a Jew.
But he's in the club.
@@rubicon3416 Mabey a jazz club smoking jazz cigarettes.
Imagine this was a job interview & he answered like that
This is from Mr. Bernstein's Wikipedia page. I swear that I'm not making this up:
"Bernstein graduated with a bachelor's degree in music from the Manhattan School of Music where he studied double bass with Orin O'Brien. Throughout the '80s, Bernstein was a mainstay on the jazz scene in NYC. He also earned a Master of Social Work from Hunter College as well as a DSW in social welfare from Columbia University's school of social work.
Since his jazz days, he has gotten interested in social work policy:
"His areas of interest include "federal, state and international economic policies, specifically the middle class squeeze, income inequality and mobility, trends in employment and earnings, low-wage labor markets, poverty, and international comparisons..."
So he comes to economics from the point of view of government social programs. The fact that the current administration gave this man their top economic position indicates to me that their top interest is these social programs. Things like inflation, government borrowing, productivity, Federal Reserve Bank operations, and rates of employment are not important to them.
It is as if we made a community organizer the US president. Oh, wait. We already did that.
When I first saw this video, I thought it was a joke video...I'm still having a hard time believing it's not a joke video...
Brooo me too I seen on instagram and then had to see if it was real and it was like wow
I thought it was an snl sketch. Hard to believe.
When did Biden hire Michael Scott, from "The Office?"
top 10 underrated comments of 2018 (real)
Totally underrated comment! 😂
The real question is, why are we paying taxes if they just print more money?
It's all a scam perpetrated by the private bankers who were allowed to start the Federal Reserve by their good buddy Woodrow Wilson back in 1913. The Federal Reserve is neither "federal" nor a "reserve". They used the word "federal" in the name to convince the public that they were part of the government, which they are not. They own the government. If you want to know the story behind this biggest enemy the US citizen has ever had, read "The Creature from Jekyll Island", by G. Edward Griffin. He also has lectures on utube. See the truth behind all the wars, recessions/depressions, the idea of the scam of climate change, and much more in this book. Printing money destroys the middle class, which was their aim the whole time, and Wilson's. Printing money causes inflation which kills the working class and pours big money into Wall St./stock market. Inflation is, itself, a tax on citizens. We pay two taxes - regular taxes and the hidden tax of inflation.
Because you CAN'T just print more money. It has to be backed by something. What they are doing is just causing more problems and it eventually it will all come crumbling down.
Because taxation results in a mandatory demand for the USD. There is a reason you cannot pay your taxes in bitcoin. Taxation can serve other purposes, such reducing extreme as economic disparity. (Not with the R or D parties, though.)
Watch the movie this came from (Finding the Money,) because I can't want to see your response when they explain that federal taxes are deleted from the economy, not held in some bank account somewhere.
Money is Debt and Taxation is Servitude (i.e Feudalism) which equates to control over the people. Taxation and Govt intervention only equates to more restrictions for the common person (slavery) and more power for the globalists that sit above Govt regulation.
Because money is debt and taxation is servitude; more govt intervention creates more inflation, more debt, more restrictions and slavery
"I'm not really an economic advisor, but I play one on tv."
That can't be real 🙄
Just....astounding.
Please tell me how money is created, many thanks
Historic incompetence!
He has academic degrees on Music and Social Work...
He isn't an Economist!
No wonder the economy is screwed up!
And his PhD is fake. His dissertation clearly states he received a DSW which is a Doctor of Social Welfare (it's an inflated Master's degree).
@@veritasforever1.0 From "Free Palestine" Columbia. Marxist even back then.
Explains everything
Bidenomics at work
It has been going on since at least 1913...
Is this AI? No one could be this dense.
If this is real, we are all lost.
Unfortunately this is real, and we were lost decades ago.
Ron Paul was the last hope.
This is the exact reason they are letting Ai become reality, so we can now question everything & they can deny REAL VIDEO! a wash...THIS IS HOW ITS WORK SINCE TAXES STARTED! STEAL AMERICANS HARD EARNED MONEY! and send to Ukraine while stuffing the money bags
@@eoh6708It is real and Jesus Christ is your only hope.
AI is smarter.
“So let me get this straight, they print money and borrow money”.
They counterfeit money it’s no longer the department of the treasury department of the debt now no treasure in that mf period it’s obvious that mf got raided during Vietnam
This was one of those great speeches that will go down in the anals of history
In the anal of history.
The government can not print money, it borrows money by issuing bonds (treasuries, bills, or notes depending on the maturity). The private sector lends money to the government by purchasing these bonds and is subsequently repaid with interest added to the principal. It's astonishing to me that this ' top advisor' doesn't understand these basic steps.
you left out the fed (not fed), though
yes, that means the Federal Reserve Bank.
Nope, gov borrows nothing, it creates money thru spending. Most of it is swapped for gov bonds and interest is (voluntarily) paid on them. It's all explained in the film.
That's fraud! Which is why he did not answer!
@@jarirutanen8762 the government buys money with tax income from private money printers, which is fraud and the reason he did not answer the question!
This should be on CNN. RUclips must be working really hard to not allow this to trend.
Is he for real ? Jesus Christ
For god sake we are screwed
Surely this is a joke
Can somebody tell me this is a joke
Unfortunately, this is real…
No joke how did we git here how did this happen to us
Come on guys, we can print up money to pay for the money we borrowed, or something. Makes sense to me. 😂😂😂
Bernstein doesn't believe in Jesus Christ. Of that you can be sure.
This has to be a deep fake. Right? Please?
I think we need verification that this actually is what happened - cause this makes no sense.
Nope. It's straight from the documentary. This is real.
We're so fucked.
As a uni dropout I am humbly admitting that I know more about economy than this guy
Meanwhile, White House correspondents: "Ooh, Mark Hamill stopped by at the White House!"
Yikes! Joe's got to go!
The same policy happened under Trump genius 😂😂. Both parties are destroying America.
Bernstein is totally confused about the operations of the Fed and the Treasury, and then he says there is nothing confusing there. Incompetence.
He has a music degree! You can’t make this shit up! 😂😂😂
Is this real? Boy, we are in a lot of trouble.
This is what "Failure By Design" looks like.
He goes from, "I don't get it" to "I don't see anything confusing there"
Please let this be fake news 🙏
They dont appoint guys like this by accident. They know exactly why they give him this job.
325 million people in the country and this is what we get
Proof that 'fake it till you make it' strategy works! Just try to not do any interviews 😂
This is my favorite one outta all of em!! 🤣🤣🤣we just got an ear full of nothing
Was just waiting for him to say “hey look a butterfly!”
Is understanding of the funding of our government. Government is on fire with the rest of our president attributes.
It's the "chosen" system...
And we wonder why the debt is going off the rails. This guy has a degree from a Music University and he is the Chair of economic advisors?!?!
Maybe he thought it was a Musical Chair he was getting?!?
Appalling! This is the clip that will do Biden in. The final nail in the coffin.
Listening to that answer was like inhaling a tank of nitrous then getting into a barrel with nails protruding into it and rolling down hill. God i love this country!!!!
This is the most disgusting thing I've seen in a while. These people are evil. It is criminal to put a dunce in the pilot's seat.
Good lord I saw a clip of this and thought it was a sketch from "The Onion" but no. It's real.
This is the country that has had a vice grip on my country's foreign affairs for the last 70 years?
I'm not so sure we're makin' it to retirement ya'll...
Sounds like a Babylon Bee skit?
Just imagine a conversation between he and Biden. Love to see a transcript of that!
Glad he cleared that up for me. Wait, what?
The puppets don't even know their master's own scam...
This is hilarious!!!
I like this guy! I acted just like him just before they sent me to Nam. Now I am a genius.
This guy is an adviser!!
That looked like a Will Ferrrel skit!
Scary when a great superpower is lead by such competencies, imagine if he is in charge of launching nuclear weapons, we are doomed.
“Is that what they do?” Omg😂
Wait, did he say the government prints money?! I like the hard jump cut @ 1:21 where they obviously edited out an awkward string of filler words
All of his college degrees are in social work...nothing economic, but my leader made him the head economic advisor...Yes your right..We are doomed...
I suspect that the US govt borrows money instead of printing mainly so that the institutions who lend the money can make fat stacks on the interest😅
Yes, and "borrowing" is a purposeful misnomer. It's a sale of bonds for cash dollars.
The government doesn't print money. The biggest bank, the federal reserve, does.
The Federal Reserve (the Fed) is a US government agency, performing services as the government’s central banker. It receives is authority from the 1913 Federal Reserve Act (12 U.S.C. §§ 221 et seq.). The Fed is also “responsible for supervising-monitoring, inspecting, and examining-certain financial institutions to ensure that they comply with rules and regulations, and that they operate in a safe and sound manner. Supervision of financial institutions is tailored based on the size and complexity of the institution.” ( www.federalreserve.gov/supervisionreg.htm ) It funds itself from operations and, as required by the statute, pays all profits to the US Treasury.
You never give me your money.
You only give me your funny paper.
He said it himself. He Don't Get It!
TRY ASKING THIS TO BANKERS AND ECONOMIC EXPERTS AND STILL YOU WILL GET NO CLEAR DEFINITIVE ANSWER...."WHY IS THE U.S. GOVT IN DEBT WHEN THEY PRINT THEIR OWN MONEY, TO WHOM THE U.S. GOVT INDEBTED TO?" OR "WHY DO U.S. BORROW THEIR OWN MONEY?" 😅
He just didn't want to say that the government prints money and uses that to pay bonds.
I've never seen an "Economic Adviser" that actually admits that he doesn't know how it works.
That's because a FRAUD is often extremely difficult to understand. I mean, how can you lend
something that you don't have, and charge interest on money you don't actually lend?
Did he come up with "bidenomics" too? Which is a rip on 'Abenomics' named after Japan PM Abe. Didn't really work out that well for them & they had to adjust to the real data. Here we seem to print, spend & spend some more. Ignoring that the $3-4 TRILLION spent in the last couple of yrs., is just put on the national debt. I didn't attend college, worked 40yrs, & just quit 2 1/2 yrs. ago after having enough of the pandemic bs. Retired on my 401K, not old enough to collect ss yet. Why am I (we) paying off school loans for kids that think they deserve it all in months that took me 40yrs. to gain??!! BTW cc debt is at $1.13 TRILLION+ (I have $0 bal.), saving act. bal. are down & wages are not keeping up with REAL inflation. How do they not count food/fuel cost?! I shop at the dollar tree, which I still can't figure out is why it's 25-500% higher (now $1.25 + $3-5 items) for the same stuff (if they have it). Oh right, 'supply chain shortage'. I never buy amazon, why are you building this guy's mega yacht(s)(he bought a smaller one to get to the bigger one too!)?! I support local small biz.
Every time I see something like this I think of a truck driver delivering boxes at 3am.
Just 20 years ago the combined wealth of entire USA was only $40 trillion, Now we have $120 trillion!!!
After listening to this guy, Gomer Pile would say: Surprise, surprise, surprise.
This is embarrassing..simply shameful...fire this man ...today!
Where are Gilbert & Sullivan when we need them? "Of that there is no manner of doubt - No probable, possible shadow of doubt - No possible doubt whatever!"
Ok cool, and since our fiat currency is mostly digital anyway, issue a card with unlimited funds to every single U.S. citizen. Thats what you're already doing, but on a smaller and longer scale, but there is no end in sight for the debt/printing of money by the US Gov, so lets take that same logic and extend it as far as it can go - give everyone a debit card with unlimited funds that will just create money each time it is used for payment. What do you think would happen when every person has infinite money? When you can answer that question you will know why the current Bidenomics/ Leftist/ Keyensian inflation crisis is happening.
He’s stumped because it makes no sense. Our economic system is stupid (and crooked).
The treasury should receive the newly printed money, with less taxes for the rest of us. And that money expansion should be no greater than the rate of non governmental economic growth of the previous year.
The woman asking him the question sounds just like Justice Barrett.
Hilarious. When does he go on his comedy tour?
Incompetency all over the place in government institutions. It is not important WHAT you know, but WHO you know.
We don’t “print money”, we issue IOUs to suckers that are willing to hold them, at a market determined interest rate, for a period of time. Less confidence people have in the US is ability to repay those IOUs, the higher, the interest rate. The current interest payments to holders of those IOUs now exceeds the defense budget. Our kids are SOO screwed.
Borrowing money is most popular because it doesn’t raise taxes or cause inflation if money is printed. But the government does rely on an inflationary economy to shrink its past debts.
This would make a great ad for precious metals.
Reminds me of that Face the Nation clip with that ATF "expert" that couldn’t disassemble a Glock.
Is that a Steve Martin Routine?
“It is frightful that people who are ignorant should have so much influence.”
~George Orwell
The same as President Camacho's economic policy. "We gonna print lots and lots of MONEY! The only jobs we gonna make are at the MINT!"
Are they really this ignorant..? 😮
Money is debt. It is called a Federal Reserve Note for a reason. The dollar is an instrument of debt. Dollars are created at interest, but there is never enough dollars to pay back the debt. The national debt will never decrease, it will only increase.
Please, please, please tell me this was AI generated. Oh, Lordy!!!
I counted a combined total of 25 cases of "like", "uh", "um", "they they", "so" or "well" not followed by a coherent thought, and questions to himself. The rest of what he said is wrong anyway. The only solid thing he said was "I don't think there's anything confusing there"... We will absolutely collapse if we don't get all of this administration out in November and I have no confusion there.
Once again just like Kamala, Ketanji & Jean-Pierre, we have another diversity hire.
After Biden fails to get re-elected, this guy should be hired by Disney to replace all of their characters. 🙈
Thank goodness we have fine people like Mr. Bernstein here to set us straight on these matters.
Well, maybe THE ECONOMY just isn't your area of expertise, Mr. "White House ECONOMIC adviser."...
Wait, I know...Let's have a SPELLING CONTEST!!
I can't WAIT until November.
That eye twitch right at the start. Holy hell a poker player would call that the tell of all tells.
That was the funniest thing I've ever seen. This guy should do standup