BUNK! Why Most of Robert Reich’s Ideas Are Just Wrong
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- Опубликовано: 25 сен 2024
- Former Labor Secretary Robert Reich and I both make videos about economics.
But there’s one BIG difference: He’s wrong about almost everything!
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Reich makes ridiculous claims.
He says the government’s big spending didn’t cause inflation.
He says billionaires should be banned.
“There are only five ways to become a billionaire. And they're all bad!” he shouts.
But that’s not true. Most billionaires get rich by making all of us better off.
Reich trashes global trade.
But trade lets people specialize, which creates jobs and makes everything more affordable.
He claims inequality is bad.
Again, not true. It’s simply what happens when people are free.
Here’s our new video debunking some of Reich’s ridiculous claims.
Robert Reich has made millions for himself by whining about millionaires
So has Paul Krugman.
Robert reich has a poor name (reich means empire in german)
Sound like the democrat socialist in DC.
Unlike the average entrepreneur, he hasn't made his fortune from providing goods and services that others desire, but simply being part of the theft machine known as government.
I'm from China and I wanna thank Mr.Stossel for calling out Mr.Reich.
Mr. Reich bleats long-debunked talking points that sometimes used in economic textbooks as typical bad policies.
On top of that, Mr.Reich strikes people even with just rudimentary understanding of economics and how society runs as naive, childish and painfully shallow.
It just shows you that a lot of technocrats in the governments got their position not necessarily by exceptional ability, but quite often by being at the right place, at the right time, and the least atrocious candidate.
No working man could afford Reich's house in Berkeley.
Yeah and that's the stuff he criticizes... He wants to change the system so working people can afford stuff like that too.
@@TK-zj7clyeah. Thays going to happen.
@@TK-zj7cl sure he does.
@@TK-zj7cl Change starts with the individual. There is nothing stopping him from selling his home at a price "working people" can afford. Well, nothing except his own hypocrisy.
@@TK-zj7clI do not believe you. I accuse you of fudging the truth. I have never read or heard him advocate for a single policy that would allegedly do such a thing. He complains about the wealthy, but he makes no effort to uplift the less wealthy. Especially not in terms of the size & quality of house they can afford.
He won't respond because, like other people of his caliber, he knows his ideas can't stand up to actual scrutiny by intelligent people.
True, the only way he would engage in a debate is on a 5 vs 1 CNN panel with Stossel as a guest. Where they would all simply over talk Stossel whenever he made a compelling statement or asked a grounded in reality, solid question.
Like Kamala, these Progressive "geniuses" all like to hide behind the skirts of their Lefty Media allies, when confronted with actually having to defend their positions.
Stossel is nothing more than a TV personality. Meanwhile: Reich has been the Chancellor's Professor of Public Policy at the Goldman School of Public Policy at UC Berkeley since January 2006. He was formerly a lecturer at Harvard University's John F. Kennedy School of Government and a professor of social and economic policy at the Heller School for Social Policy and Management of Brandeis University. In 2008, Time magazine named him one of the Ten Best Cabinet Members of the century, and in the same year The Wall Street Journal placed him sixth on its list of Most Influential Business Thinkers. And Stossel thinks he's in the same league because he has a couple of best sellers and is on FauxNews? Laughable.
@@reignmkr64 we can also get an equal equivalent level of accolades for Trump, but you are still hating on him like you have feelings any left wing thinker who makes their millions being hypocrites. The same ones who would scream on companies like Amazon while still ordering their stuff from Amazon. Basically, he received those accolades and live off them on the expense that he is thinker who never owned and managed a single business, but is good enough to give revolted college kids a "reason" to be revolted while sucking on MSNBC's word by word graces.
@reignmkr64 uh huh but Reich is still a socialist duche bag.
It's kinda funny hearing a guy complain about rich people also happens to be a millionaire who charges 45k to do a speech on a college campus
Hypocrisy is the cornerstone of the left!!!🤣🤣🤣
Yes!! He wants to redistribute everyone’s wealth but not his money. A shame that he gets to spew his lies to college students.
He doesn't complain about the rich but the super rich. You can also benefit the system legally and be against it and want something fairer.
@@lookilookibuthearingtooi You sound like a jealous simp
@@lookilookibuthearingtooi But nothing he says is based in reality. He's a hypocrite
"If Socialists understood economics, they wouldn't be Socialists." - F.A. Hayek, Nobel Laureate economist.
👍
Unfortunately, this isn't true. Dr. Thomas Sowell remained a socialist even after he attained his doctorate in economics. When he started to work for the government, he came to realize that these government employees don't actually care about making the world a better place, they just want easy well-paid jobs, even at the expense of the well-being of the civilization and its people, and thus he rejected socialism.
With that said, Mises' essay 'Economic Calculation in the Socialist Commonwealth' (1920) has yet to be refuted by the socialists. I wonder what Dr. Sowell, in his socialist days, would have said to that.
If democrats or politicians in general understood economics the country wouldn’t be in Debt!
Socialists capitalizing on anti-capitalism, do poorly in socialism.
Because they have no value.
@@FOMC6780
Exactly! 👍
I am a retired soldier, LEO, and CBP. I love Capitalism. Without it I could never live as good as I do.
And as an East German, with experience in both systems, i can asure you: you are right.
pure capitalism is what were sliding into, americas golden era was with the help of socialism
@@aceous99wrong. Capitalism never needed help from socialism. Socialism needs help from capitalism.
@@aceous99 Have you studied history at all? You get on my comment with your preposterous claims that come out of nowhere. Go away! You are ignorant of history and you showed it in your comment.
When Reich talked about "reining in" Elon Musk, it really hit me. Who does he think he is? Along with his cohorts, he's going to control and manage Elon Musk? And other people? You and me? All of us? Society in general?
What an arrogant, deluded, ego-ridden, grandiose little loudmouth. He's not in charge of us, and he isn't in charge of our freedom.
Yes, the left does want to control and manage the rest of us. They think they're smarter and wiser than you and me so its there right to decide how we live. 😫
Yep. That is exactly his and others like him, plan.
You seem very paranoid.
Can’t have these out of control capitalist running amok.
You describe him perfectly, except you left out “hypocrite”. I’m pretty sure he owns an investment portfolio of some kind, so he should immediately divest, sell his home, give all his money away to the poor and live off of social security.
As an Econ student, calling Robert Reich an economist is an insult.
He's a Marxist
Then you are definitely not educated in regard to US economics and if you are, you should request your money back!!
@@jimk9213 Take money from the rich is not economics. It's Reich's mantra.
And when did you serve as Secretary of Labor and for what University to you lecture Economics at? Never and None? Thought so.
@@jimk9213 you literally are making no point.
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He must have taught AOC's "economics" class, which would explain why she says the same stupid shit.
Your assuming that young Bar Tender was actually paying attention.... lol
@@tobybigham4196 she spend a lot of time working hard.... on her knees to get her grades.
If AOC was 50 years old and over weight, we wouldn't even know her name.
@@MicahThomason Who? Lol
You hear these people talking about economic justice. If some people are hard working and ambitious and willing to take chances, and they enjoy more success than people who have none of those characteristics, isn’t that justice?
I forgot Taylor Swift was a billionaire. I wonder if the next leftist that talks about banning billionaires will show her picture in the upper right corner of the screen
Billionaires who create wealth by creating an amazing product or service = literally the worst people
Billionaires who create wealth from making music or playing pretend on camera= YASSS QUEEN!
Taylor Swift was a Republican and only became a Democrat to make more money. And yes, you can be a fan of music and critisize that she is a billionaire.
@@lookilookibuthearingtooi What is the point of criticizing someone who put in the hard work to get where they are at. Say what you will about entertainers, but if it was easy they would all be millionaires. However, the reality is starving artists are in the 95% majority. Instead of focusing on what other people are doing, successful people focus on themselves. The goal is to figure out what strategy will work. What gimmick will people be willing to pay for!
Same with Oprah.
Nope, she's "one of the good ones" cuz she's a democrat
The question is not what is Robert Reich wrong about, but about what he’s not.
Kudos to Stossel for pointing out that Reich is an ideologist lawyer, not an economist.
Stossel's a hack that couldn't hold a job at even a semi-reputable company. Paid to tamp down any dissent that might actually inform people.
Glosses over "jobs ceeated" (even if overseas) and "unemployment down (even if people need 2-3 jobs and still barely if at all getting by).
Reich explains how the govt and the corporations collude to keep jobs out of the US when possible (to pay some 3rd worlder pennies, vice an American an actual salary and benefits).
Reich explains how unaccountable and life-appointed judges decide on cases in which they benefit. He explains how wages are kept increasingly lower than prices and costs of living as the govt is paid to allow monopolization and free reign to charge us $1K for an aspirin.
A millionaire complaining about billionaires.
What a clown
like Bernie, constantly complained about “millionaires and billionaires” until he became a millionaire. now it is only the billionaires that bother him.
Printing trillions of dollars absolutely caused inflation, I can't believe that's still up for debate. And many companies also used the "supply chain" issues and the government caused inflation to raise prices and they didn't come back down. Both things can be true. There's essentially only a handful of factory farms for pork, chicken etc. and only a handful of companies that own pretty much every brand of snack food out there.
He's a bum, always has been.
He's an honorary member of the elite, he is, although I think they just keep him around for entertainment value.
Little Bobby is a marxist.
Because he disagrees with your views? You don't even have an argument. You just insult him.
@@Slim-Pickens Realize this was Carter's Labor Secretary. For those of us that are old enough can tell you some stories about unemployment and economic instability back in 1978! Back then Democrats were more sane, but that whole administration was just socialists blundering around without a plan!
@@lookilookibuthearingtooi Throughout human history, stupidity has always been a point of ridicule.
"Robert B Reichhhhhhhhhhhhhhhhhhhhhhhhhha" Who remembers this?
I always felt Reich was just a whiny child. And we all know how ignorant children are.....
Well most children over 8 years old are bigger than he is.
Funny how his critics always use insults but never a proper arguement. Makes you seem pretty....well.....
The proper argument against Reich is this Stossel video. Did you even watch it?
Ben Shapiro?
@@lookilookibuthearingtooi stossels argument seemed pretty "propper" it was well researched and well delivered.
I always find it ironic that he talks about the inequality of ceo to worker pay, but never talks about his pay compared to his students.
Or even high government employee salaries
RR reminds me of Bernie Sanders. Doesn’t mind making their wealth off of capitalism but wants to tell you that capitalism is wrong. Clowns. Only a fool believes both of them.
His students don't get paid to be students. Do you even think about your opinions?
@@Cyrus992 That's included when he talks about these things. He just gives one example. Can't your brain handle that?
It's not a job to be a student. Bad example, dude.
I don't agree with the statement of "better products for less money." More like cheap products more cheaply.
Reich complaining about individuals taking advantage of monopolies but ignores the Government is the worst monopoly of them all
i worked for a government funded company it was mismanaged and at times caused more problems and wasted money
There's no one to answer to, so they can steal and get away with it.
...and that there are plenty of economic arguments that monopolies can only exist because of the government
@@water2770 In fact, a monopoly cannot exist without the support of the government that is the silent partner of that monopoly, in pre-revolutionary France there were numerous monopolies administered by merchants but granted by the crown, for example the salt monopoly, only those authorized by the crown could import, buy and sell salt wholesale, salt smuggling from Poland was a very serious crime.
And if I may paraphrase someone famous, it is the only monopoly that comes to the party with a gun.
The actual injustice is not billionaires who get money from relatives; it is those who get a leg up from government cronyism and protection.
a.k.a. insider trading ;-) Or, back door deals. Or, handouts.
Gov't is a great tool for taking from the many and giving to a few. Gov't is the ultimate Ponzi scheme.
Yes, like Google, Facebook, and the other entities established from the start by three letter agencies to violate privacy and censor.
You mean like the billionaires that get both. 'Socialism for the Rich, rugged individualism for everyone else.'
Anyone who refuses an interview to defend their ideas knows deep down that they are full of hot air and do not want to be called out on it and made to look stupid.
Robert Reich spreads a lot of logical fallacies
The definition of a sophist.
It’s weird that people get upset at large corporations because they’re successful and big. But they tend to forget that they didn’t come out of nowhere. They were made, and people bought from them. People cast in their money because they believed it to be more convenient for someone else to do it, rather than themselves.
Starbucks is successful because people like weird drinks. Nobody is forced to go there, same as nobody is forced to buy from Amazon. A lot of people love these companies, why should a company be punished because it’s giving the people what they want????
If Robert didn't have a soap box to stand on, no one could see him.
Now that was witty and funny
If Reich had a soap box to stand on, he could qualify as a short man.
😂
@@oneFreetinker if Reich had a soap x to stand on he couldn’t get on it.
@@peterlewellyn2389 he would need lifts in his high heels just to get on a ladder to climb onto the soap box. 😁😆😅😂🤣
Glad someone’s calling this pundit out
Exactly!!
I am from South Africa, We are already manufacturing specific car models for BMW, VW and Toyota, for the whole world, while importing others models from the same brands. Thanks to BMW, VW and Toyota. I would like if other manufacturers exploit us more by building factories here. Please do. Please do a lot more.
@@Deontjie My employer exploited me for 35 years, and now I get a big fat wad of money every month for life. 🎵Nobody knows the trouble I've seen...
I’ve been doing it for several weeks but unfortunately my reach is quite limited compared to Stossel.
People who want to do away with billionaires never want to do away with the stuff they have created.
They want to steal it.
Robert Reich’s net worth is between $4-$5 million. 😂😂😂
Guy it’s bad to make money unless you are spewing liberal BS.
Just like Bernie, he is only against billionaires, but absolutely fine with millionaires.🤣
That’s kind of a pathetic net worth for a guy who did the jobs he did. Maybe he’s a bit salty that he squandered his life’s income.
so is john stossels net worth about the same.
@mtbtrailrider6653 is he complaining about people making money?🙄🤡
@@mtbtrailrider6653 maybe but he doesn’t blow liberal smoke up the hard working people’s rumps. 😂
My 12th grade government teacher was a hardcore progressive and made us watch his documentary. She was trying to push this bullcrap agenda down our throats
You should have disected his logical falicies for her. Well on 2nd thought don't listen to me being liberal she might have failed you.
😂😂😂😂
You should have suggested a one-to-one match: a Stossel or Prager U video for every Reich video.
Did parents know? I guess a lot of parents don't even know who the guy is. Would have been great to see push back to also show the class a Milton Friedman documentary to balance things off, then have a thoughtful discussion about it all. Wouldn't do it willingly I'm sure. But that's what we get when we trust the state to raise our kids.
@@mr.mithmoth for context I grew up in California 😂
That's child abuse!
I like to say, "If you want to destroy Amazon, simply stop shopping with Amazon"
No one has taken me up on the offer.
I've heard it is a fool proof strategy. Then again I still see Amazon packages showing up at the home of the family that has an 'eat the rich sign.'
Sometimes there are books that I can only get on amazon. Other than that I don't need amazon.
I’ve been saying something similar about Tesla. The people who hate Musk buy his cars. The people like Musk DON’T buy his cars. Ironic isn’t it?
lmao brain dead take, imagine killing worldwide-spread corporations by not using them
@@Mostlypeaceful896 ....... When you've finished reading them, please give them to RR to sit on so that he can see over the steering wheel.
This guy has never been right about anything. He makes Jim Cramer look smart.
Reich talks, I stop listening.
Can't deal with facts?!
Can definitely deal with facts. Will not tollerare ignorant hypocrites and stupidity. If Reich dealt in facts this video and this comment section would not exist.
I listen to him to understand the manure he spreads because sadly far too many listen to him a buy it because it agrees with their ignorant preconceptions. Know your enemy.
Robert Reich is not an economist but plays one on TV.
Robert Reich made his money in politics. Not economics.
I'm embarrassed to admit I once took Reich's opinions seriously. Luckily, I now see him for the communist he is.
Per Wikipedia: " In 2020, Reich wrote letters to the City of Berkeley Landmarks Preservation Commission objecting to the construction of ten housing units (including one low-income unit) on a lot near Reich's home" enough said.....
Oh no, this really is an example of a socialist hypocrite
@@ZelenoJabko they ALL are like this
HA! This is great. What hypocrisy
@@ZelenoJabko Rules for Thee, but not for Me.
The way of the left. Its always rules for thee not me
"Capitalism even makes its critics rich"
Capitalism died in the 1930s. The government controls the market now.
Heh heh...That's beautiful and so true.
"And its cheerleader's even more so." Why does Capitalism need lobbyists then?
@@buckchile614 There is no lobbying under Capitalism. Do you guys even know what Capitalism is? It's a free market economy without government interference in the form of regulation, taxes, or subsidies.
People lobby government bureaucrats. There wouldn't be any government bureaucrats able to manipulate the markets if we had Capitalism. Capitalism died in the 1930s.
You've heard of the 3rd Reich, now meet the 4 Foot Reich.
Reich didn't get a degree in economics. He studied "Philosophy, politics and economics". It's a fancy way of saying "Communism". It's the opposite of learning about economics.
Kamala Harris has a degree in political economics at Howard University
Kamala Harris has a degree in political economics at Howard University
He is the classic champagne socialist. made money by kissing *ss in politics.
@@timothykeith1367 We heard you the first time.
I have a degree in Political Science, Criminal Justic, and Public Administration... and I will say Reich is wrong on ALMOST everything. He is a propagandist.
"I hate billionaires.
I wish I was a billionaire."
Jealousy doesn't make you right.
Bernie Sanders is prime example , railing about "millionaires and billionaires" till he made his first million now he doesnt include "millionaires" as he said "i earned it"
He is a coward that knows his arguments don't hold up to basic scrutiny. He will never even attempt an interview where he may be questioned with the hard facts. I'm glad you called him out. He will probably ignore your challenge, but he will hear about it- and he will, if nothing else, have to face the truth in his heart.
He's a socialist.
Yup he's angry height wasn't distributed equally to him.
of the Nazi variety. He thinks he is Oskar Schindler.
@@mattharmon3838 yes but trust him… he’s not a StalinMao kind of socialist.
He just wants government to take your stuff and give you a vote on which socialist politician gets to run his ideal central planned economy.
i disagree, he is a snake oil salesman
@@billjones8542 So he is a Socialist of the Fascist variety, lol. Oskar Schindler wasnt the good guy, he was a Socialist Nazi.
Robert Reich is the biggest liar of our time.
My vote would be for Krugman. I think Krugman is worse; he can't be as d u m b as the things he says, such as: after the Japanese tsunami that almost wiped out a city a few years' back, he said it was a good stimulus for their economy because of all the jobs created. What about all the assets that were permanently lost when homes were wiped out? He fell for Bastiat's broken window fallacy, something a Nobel Prize winning economist like Krugman should have known. So either he knows what he says is nonsense, and says it anyway because it makes the Democrats look good, or he's got some kind of brain damage, stroke or something similar.
His biggest lie is that he’s an economist
these actual rich people never give any of their money away nor put people in their homes. It is always a you should type of thing...
Show me one nation that has taxed their people into prosperity!
Norway, Sweden, Finland, Denmark.. but their systems are starting to bend due to mass migration and people mooching off the system.
USA in the 1940s-1960s
@@jeremyy8509 please explain?
FDR's New Deal created the golden age of capitalism and the most prosperous middle class the world has ever scene. And it involved taxation and regulation. But I know that doesn't fit the narrative.
@@notrelavent The top income tax rate in the US reached above 90% from 1944 through 1963, helping to fund the GI bill, interstate highway system and other initiatives that fueled Americas growth
Reich's last name fits his ideology.
He's not German. He's ethnically Jewish.
How do you get from wanting a fairer system to Hitler?!!
Turd Reich
@@lookilookibuthearingtooiStatism .. give all your earnings to the State like a good pleb.. hardly 'fair'
@@lookilookibuthearingtooi you're either related to Robert and trying to bait us, or just dumb.
Robert should be Kamala's VP pick. Both refuse to submit to deep questioning about their comments.
Reich is the nation's most consistently wrong pundit.
Jim Cramer is vying for that title.
tough race between him and krugman
Actually all the agenda propagandists are equally guilty and just as evil as the next.
@@kipdellinger My thought exactly.
@@kipdellinger Funny how socialist "economists" are consistently wrong with their predictions.
Maybe it has to do with their fundamental assumptions? "No!", they say, "It must be the data that is wrong!"
The fact people like Krugman, Reich and Cortez have infiltrated the field of economics shows how debased modern academia and economics has become.
RUclips recommended his videos to me about 7 years ago when I started trying to understand the world better, and from the start I could tell something was off about his ideas.
I don't want to be controlled and I don't want to control others. I just want government to keep me safe from violence and theft and fraud and slander. After that let people be what they will be.
I’m no fan of Mr. Reich but he does raise some credible arguments.
Reich came from the University of Wisconsin in Madison. Unfortunately local leaders listened to him and screwed up Wisconsin politics.
We are not forced to give millionaire's money like we are forced to give the gov money .
WORD !!! (Do the kids still say that ? Oh, F' the kids !)
What about Bill Gates? If you wanted Windows you have a to give him money.
@@lookilookibuthearingtooi If you want something from someone else you generally need to compensate them...
see thats the illusion. the illusion of choice.
@@lookilookibuthearingtooi You might be a little young to remember computers back in the early 1980's but there were a number of choices, though only certain ones were really good at organizing business. But I worked off of free copies of DOS and WIN.3x for years. But if you want to do actual business and not get sued for stealing, then yes you buy your licenses. That is capitalism in a nutshell, and it allows many people to get rich! How do you think Bloomberg got rich? Hint: He used Microsoft software to put together his terminals.
Someday a smart scientist will be able to identity the disorder that causes people to think like RR.
Its called SOCIALISM.
It's called greed. He is capitalizing on a market of impressionable people and being paid by subsidized universities.
Usually people spewing this nonsense are millionaires. This guy is a millionaire just like Bernie Sanders. They are the “hippies” of the 60’s and now they want to change America for the worse on their way out.
@@codebloke2200 yup, snake oil salesman to the nth degree
It's called humanity.
Thank you for pointing this out. EXCEPT for illegal immigration; Iegal=good; illegal=bad for all.
There is all the difference between treating people equally, and trying make them equal. F. A. Hayek.
The problem is a lot of people haven’t been treated equally, because of systemic racism.
@@Silver77cyn Define "Systemic Racism."
"Racism is not dead, but it is on life support - kept alive by politicians, race hustlers and people who get a sense of superiority by denouncing others as ‘racists”
Thomas Sowell.
"Civil rights laws were not passed to protect the rights of white men and do not apply to them" Mary Frances Berry, Chair, Civil Rights Commission, Clinton administration.
@@Silver77cyntoday they are treated preferentially
@@edwinamendelssohn5129 And WHY do you think that is the case?
@@donswearingen9805 A system that discriminates on the basis of race. A good example is the racist red-lining laws that prevented minorities from getting the majority of house loans in the 40's and 50's that contributed to the baby boom, and thus those minorities were never able to acumulate wealth like theri white contemporaries.
And of course civil right laws were not made for white people, they literally weren't facing discrimination from a system that benefited them, get a clue. 🙄
I watch RR videos to get a feel for the other point of view. Here’s a guy who’s wealthy by whining about wealthy people and people actually agree with him. Elizabeth Warren is another one. Crazy
@@tomf9292
It is actually an illness !
If you don't mind, I'm going to hijack your comment to create a list of whiny people that got rich doing so. I'm going to add Bernie Sanders, AOC, and Ibram X Kendi. Anyone want to add some more?
@@ledzeppelin1212 LOVE IT!
He's whining about the super rich, dude. Because of them others are so poor. Is that concept to hard for you to understand?!
The libs want someone to take care of them. Most conservatives want to be left alone, but with the corrupt government we have, no one is happy.
Korea is not a country when you were showing coffee. It’s South Korea
Obviously we aren't getting coffee from north korea
Robert Reich is a coward.
Reich reminds me of Bernie Sanders. A hugely wrong worldview and he cannot be stopped wrecking everything in his path.
Considering the fact that he was an economic advisor during the Clinton Administration despite having no formal education in economics, he’s probably more to blame for the state of the economy today than the “billionaires” he flails on about.
reich has been consistent his whole career ...consistently WRONG
Robert Reich is "in the club" so he can do/say anything without scrutiny. The end.
Truth!!!
What is anything? Expressing his views?!
@@lookilookibuthearingtooi Excessively stupid, and unAmerican ideas. Without scrutiny from the left.
Robert Reich is a communist - that's why he is constantly wrong - very clear for me.....What else is new?
His only “product” is horse manure
Title: BUNK! Why Most of Robert Reich’s Ideas Are Just Wrong
CORRECTED Title: BUNK! Why ALL of Robert Reich’s Ideas Are Just Wrong
You are welcome, John.
Lets be honest John S... the reason unemployment is low these days is because they changed the way we count the unemployment during the Obama years to make him look better.
This. If they counted correctly, the number would be about 25 percent.
People who become discouraged and stop looking for work aren’t considered unemployed despite being willing and able to work.
This right here
I thought that was before Hussein. DC been scum for decades.
We shouldn’t count unemployment anyways we should should count labor participation rate or number of workers
Government deficit spending causes inflation every time
Even the word "inflation" refers to the amount of money that's printed by the government, reducing its scarcity and it's value. Things are only valuable if they're scarce
Not if they're borrowing the money, but they're not. They're just printing up new money from nothing, that doesn't reflect any new value being created.
A colleague of mine once made a rant about wealth needed to be distributed better. I asked him how much he would get more if a millionaire distributed a million euros across 18 million people (total population of the Netherlands). He was very quiet for the rest of the day.
RR is the like a doll with a pull string that just says “Corporate greed! Corporate Greed!”
“Trickle down economics bad”
Now let’s take everyone’s excess wealth, put it in the hands of a few (government), and have it trickle down to ya’ll
@@cl5619Seriously. And allowing people to keep the wealth they earned is not something that anybody should need to defend. The fact that the rich reinvest so much of their profits should be hailed as an act of charity. They are letting other people use their wealth when they aren't using it.
Never government greed. Guys like RR believe money should be controlled by a centralized government not by the individual who earned it.
That's what you hear from liberals all the time. They hate businesses and especially big business.
@@Rambleon444 we already have that. Government takes about half of everyone’s income, particularly true of blue states.
And what do we get in return?… a trickle… why aren’t we already getting the great returns on socialism?
Bring back dwarf tossing
........ yes but first, please open the window.
The correct term is midget tossing.
At least HE still gets 6 figures for the noises his head makes in certain company
Remember who Robert Reich actually is. He is an attorney, specifically a labor attorney. He was then promoted to Secretary of Labor due to college friendships. He DID study at Oxford in a program that mixed Political Science, Economics, and Philosophy, so he should have enough background to know what he asserts in his videos is wrong, but instead he just uses the vocabulary of economics to push his ideological viewpoints. He is an activist, not an economist.
I know another BIG fan of Robert Reich's disinformation is actual economist Antony Davies. He might be another good guest for John.
I'm not convinced he believes what he is saying. I think he is a propagandist who is working for the Democratic party and he knows it. I mean the stuff he says is so obviously wrong that even a 6th grader can disprove the concepts.
Whining and victimhood sells. People would rather blame billionaires than get up and work.
or save up for things rather than use credit.
Robert Reich is "ONLY" one year older than John Stossel. All that negativity really ages oneself, and it appears to be a detriment to health as well.
Elitists are usually always wrong- and always too arrogant to admit it
My guess is that this video will not get Reich to respond to your request for an interview.
Absolutely not. He never goes into a hostile environment. He only goes to media personalities that praise him and spread his false ideas
He can't, his ideology is indefensible!!!🤣🤣🤣
I call him Robert "Third" Reich.
After the 1970s, neo-Marxism in the United States saw a shift towards Critical Theory and Cultural Marxism. These movements emerged from the Frankfurt School and gained traction in American universities. Critical Theory focuses on critiquing and changing society as a whole, rather than merely understanding or explaining it
God damn Frankfort school. Always f us up
Blame the hippies
@@jovetj I blame the hateful spiteful God complex Marxists from the Frankfort school
100% true. I obtained degrees in econ and finance in the 80's. I will never forget one econ professor who was previously a member of the communist party explain to me what the plan was. And I've watched it unfold over all these decades.
@@spudbono5747 what was the plan
It is amazing to me the number of Americans who actually believe America is successful despite capitalism and not because of it.
It's more amazing the number of Americans that believe Capitalism is flawless and can do no harm
@@buckchile614 Capitalism is a Marxist term. It's better called free enterprise. Which economic system is flawless?
The problem is they conflate all forms of capitalism as bad. Crony capitalism is bad and it's what has created these huge mega corps that need to be busted up using the anti-trust laws. Problem there is the politicians are disincentivized to do so because they fund their campaigns.
They need to educate themselves to the fact that it is the free market that truly drives this economy. How can something that is the number one contributor to lifting the people out of poverty faster than any other form of commerce be a bad thing? It just goes to show the ignorance and laziness of the Marxist mindset.
The primary problem with capitalism in the US is it does not have any safeguards to be close to be equitable to the majority of people. Equitable does not mean "equal" (look it up). The safeguards for being equitable for the vast majority of society are 1. Reasonable Minimum Wage. 2. High percentage of Unionization of US workforce. 3. Reasonable regulations on the Private Sector and 4. Limitations on how much management of Government Contractors should be allowed to have collectively , as a percentage. The US has none of those safeguards and as a result capitalism has become less and less equitable since the 80s and will continue to do so with an ever increasing Wealth Inequality.
Think of it this way, the US Government is effectively the richest corporation in the entire world, run by a whole lot of rich people. Few of us seem to have a problem with that, but for some reason they a whole lot have huge problem with big business and those who run them.
The difference is, you can choose to NOT give a corporation your money if you don't like what they're doing for you -- assuming you're even paying attention to what their doing. Try that with the government and see what happens.
"US Government is effectively the richest corporation in the entire world"
I have a problem with that. The US government does NOT respond to it's customers (the taxpayers) in any way as well as corporations or businesses do.
this is the most logical thing I've heard all day! thank you and you are a fine person.
Socialism is the ultimate Monopoly.
@@mr.mithmoth That’s the problem: The US government answers to the richest corporations. And those corporations put multiple brand names on shit to fool you into thinking you have choices. That’s the illusion of choice that they want you to believe. If you were to look into how many brands were owned by the same mega corporations, you will begin to realize how many near outright monopolies there are. Our food supply, our news media, our energy, etc. etc. are all owned by an ever shrinking cabal of companies that control every aspect of our lives. It’s a small, elite club, and we are not only excluded, but they go to great lengths to deny it exists.
So keep eating your Cheerios, and watching your corporate sponsored media designed to make us all suspicious of each other, and go ahead and pretend that we are not already in the Matrix.
Your comment is really true
Robert Reich is so wrong that he turned off comments on his videos because he can’t stand the truth being told to him.
As an economist, he is a complete failure. I don't know why RUclips chooses to send me his videos, but I respond in all the comments sections of his videos, never failing to point out how poor his knowledge of economis really is.
Robert Reich always comes up short.
Teehee 😂
That's what she said
not funny
Well ain’t that the truth!
Lord Farquaad
LOVE this approach of calling out people propagating, misleading, and false information on social media. Keep this up. Every few videos document another social media influencer and debunk their lies. You will see a huge spike in subscribers as a result of exposing and allowing people to share what you found with these “influencers”
The most frightening thing in this video is that millions of people watch Reich.
He’s busy calling conservatives Nazis. Yet his definition fits HIS ideas!
He is NOT economist. He just wants to be rich himself.
Folks can say the same thing about Reich, only reason he got where he is today is because of the rich. It’s insulting he thinks we are dumb enough to believe his lies.
You are the man Stossel! Thanks for all of the hard work you do! Aloha
If someone does inherit money, what is wrong with that? If I can choose to spend money on myself, why can't I choose to pass it down to my children?
The guy who invented Minecraft became a billionaire simply by making a video game that a lot of people loved.
And, even if you don't think they deserve their money, why does anyone else or the government deservement. The entire premise of "they don't deserve it" implies that the government is some extremely wise and moral entity who is justified in seizing tour wealty and distributing in a way that see fit. They see government as god.
I can't stand Reich.
100% spot on about Reich. Watched him a few times. He’s just grifting by hating on Billionaires and open trade policies.
I'm 56 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I'd suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
In the 80's my Dad worked a modest job, Mom stayed at home and raised the kids, and they lived a nice middle class lifestyle including owning a home. Nowadays both I and my partner works and can barely afford to make ends meet. Soon the kids and family dog will need to work to keep this household going. It's the destruction of the American dream right before our eyes.
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you...prevent inflation
I was a late bloomer,but Mary Callahan Erdoes Services, my financial advisor helped me bring it all together and got me into crypto. Now retired for 6 years at 72, my managed portfolio with Tracy generates about 9k a month on average more than my RMD on my retirement accounts. Not real big, but together with SS we're able to live reasonably with 160k a year. While being mortgage free.
She is really a good investment advisor. Was privileged to attend some of her seminars.that's how I started my own crypto investment
Trump doesn’t trash trade!
He wants America not to get screwed in the trade like we always do.
Trump absolutely trashes trade.. all the time. He does that because he knows is economically illiterate base eats it up. He is a populist who will say anything to get a vote... he is no different than any other politician and it is sad so many have fallen for him
@@TedSchoenling I agree with the OP. Trump got voted in because ... HE'S NOT A POLITICIAN.
If he was smart, he wouldn't make things worse with tariffs and trade wars that cause prices to increase.
The only solution is deregulation.
I buy things from foreign companies all of the time. How exactly am I getting screwed?
@@DarthMalevolence66 I agree. I like that he cuts taxes, but then when he raises tariffs, he's just screwing me in a different place!
Amazon has a whole list of wrongdoings
I disagree with the assertion that Robert Reich has ideas
All you gotta do is spend a few days reading up on what became of Zimbabwe, then Venezuela, once they started taking over local industries and printing too much paper money to realize ppl like RR are completely FOS.
And that's where we are headed.
And then the wealth escapes and misery becomes the norm. Grave robbing became a thing in Venezuela in efforts to find valuable loot.
You are all three completely clueless about what happened to the Venezuelan economy. It doesn't take but a little research on the internet to unravel what went wrong. Chavez came into the presidency on the promise of a job for all, but the government only nominally controlled the nationalized oil business. Most of the different economic sectors of the country served as personal cash cows for high ranking capitalist members of the military and other powerful elites. So to fulfill his promise of jobs for all he simply loaded up the number people it took to do any job in the public sector. Venezuelan oil went from the least expension to produce to the most due to a bloated workforce. This in turn created a thriving economy, more jobs elsewhere in the economy and booming demand for goods and services. Unfortunately, when the upward spiraling demand for oil began to slump and prices declined dramatically this was unsustainable and government coffers were quickly exhausted without taxation from private sectors. Massive government layoffs sparked inflation and the capitalists refused to surrender their profits to halt runaway inflation in the short term and the rest is history.
@@davidharris453 you’re making assumptions on calling people clueless and albeit disrespectful. I’m aware the issue to their poverty issue is a bit nuanced here, but overall taxation and confiscation was a thing in Chavez’s evolving socialist economy. With the exception of Chevron which still operates with autonomy to a certain extent.
Mr. Reich has the sort of ideas that remind me of the Third Reich.
The definition of inflation is literally that the value of your dollar goes down because there is more money.
He never cites anything, he just says that everything you know, all the commonly held beliefs that we trust and work, are wrong. Good video on Reich.