Chris B "To fight this recession the Fed needs…soaring household spending to offset moribund business investment. [So] Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble." -Paul Krugman
Chris B "The growth of the Internet will slow drastically, as the flaw in 'Metcalfe's law'-which states that the number of potential connections in a network is proportional to the square of the number of participants-becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's." -Paul Krugman
I am very upset at Niall for falling for quantitative easing. Quantitative easing is the ability of the central bank to go into peoples banks accounts and take their money. In fact, it is less sinister than what Cyprus tried to do as Cyprus did not, 1) go into peoples banks accounts and then try to claim they were helping them. 2) did not go into an elderly persons bank account and take it. 3) act like they were not stealing. People supporting QE should be fired, there are no exceptions.
pirucreek I forgot to add. So what did they do with this QE? They bought junk house loans that were not worth as much as they paid for them. To add to their crimes they grouped these homes together and sold them to hedge funds, and REITS at super discounted prices. Come on Niall you are one of the few hopes left.
man you are so misinformed. QE Is just an asset swap by the member bank and the central bank. It's just changing the type of the asset under the belief that bank reserves can be loaned out to people, in reality bank reserves only sit in bank's balance sheet, they do not enter the deposit accounts or debit accounts of people. It's impossible. QE will not do anything, it hasn't. Look at Japan and Europe. Took QE but still on deflation and barely hitting inflation target. QE Is neutral, it doesn't do anything.
+Mulberry2000 Your understanding and many others is that 'Austerity' is something bad. The reality is something else since the word "austerity" as it is being used today is merely a balance of budgeting. That concept is one that is insisted on by every sovereign government as a requirement for every institution but itself. For instance if I continue to run my affairs a ta deficit I would be bankrupted and possibly even jailed. If you look at a sovereign government it is only a name for an organisation taht has been voted into power. Just as a regional or state government is voted into power yet "Austerity is manadatory for them. So the outcome of that understanding must be is that being a mandatory requirement for nearly all organisatiuons and individuals the concept of 'Austerity' must be highly desireable for any government to exist. Without Austerity the whole financial system including the currency and government financial instruments would be in total disarray and government would not function at all. Those politicians, economists and others who speak out negatively about the austerity measures being a poor concept are just proving their total hypocricy and double standards.
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LOL Masterclass promoted their class with Paul Krugman right before this video started playing 😂
Krugman is usually wrong about what he talks about.
Chris B Not really. But, no economist bats 1.000.00
Robert Harris Oh yea I forgot about that time that aliens invaded and the world's GDP quadrupled.
so, you believe in alien invasions; very interesting.
Chris B
"To fight this recession the Fed needs…soaring household spending to offset moribund business investment. [So] Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble." -Paul Krugman
Chris B
"The growth of the Internet will slow drastically, as the flaw in 'Metcalfe's law'-which states that the number of potential connections in a network is proportional to the square of the number of participants-becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's." -Paul Krugman
These guys can't even predict the past, let alone the future.
I am very upset at Niall for falling for quantitative easing. Quantitative easing is the ability of the central bank to go into peoples banks accounts and take their money. In fact, it is less sinister than what Cyprus tried to do as Cyprus did not, 1) go into peoples banks accounts and then try to claim they were helping them. 2) did not go into an elderly persons bank account and take it. 3) act like they were not stealing. People supporting QE should be fired, there are no exceptions.
pirucreek I forgot to add. So what did they do with this QE? They bought junk house loans that were not worth as much as they paid for them. To add to their crimes they grouped these homes together and sold them to hedge funds, and REITS at super discounted prices. Come on Niall you are one of the few hopes left.
A small amount of quantitative easing is fine.
man you are so misinformed. QE Is just an asset swap by the member bank and the central bank. It's just changing the type of the asset under the belief that bank reserves can be loaned out to people, in reality bank reserves only sit in bank's balance sheet, they do not enter the deposit accounts or debit accounts of people. It's impossible. QE will not do anything, it hasn't. Look at Japan and Europe. Took QE but still on deflation and barely hitting inflation target. QE Is neutral, it doesn't do anything.
i like ferguson's work even though he is an neo conservative, and he is wrong about austerity. he is very good at public speaking et al
+Mulberry2000 Your understanding and many others is that 'Austerity' is something bad.
The reality is something else since the word "austerity" as it is being used today is merely a balance of budgeting.
That concept is one that is insisted on by every sovereign government as a requirement for every institution but itself.
For instance if I continue to run my affairs a ta deficit I would be bankrupted and possibly even jailed.
If you look at a sovereign government it is only a name for an organisation taht has been voted into power. Just as a regional or state government is voted into power yet "Austerity is manadatory for them.
So the outcome of that understanding must be is that being a mandatory requirement for nearly all organisatiuons and individuals the concept of 'Austerity' must be highly desireable for any government to exist. Without Austerity the whole financial system including the currency and government financial instruments would be in total disarray and government would not function at all.
Those politicians, economists and others who speak out negatively about the austerity measures being a poor concept are just proving their total hypocricy and double standards.
The world is full of smart people with shitty ideas
@@mtklima Yep! Krugman for example.
they didnt even mention austerity
Ferguson knows nothing about economics I'm afraid.
Niall is wrong about everything. Nice guy, though.