@@kess6698 Right, This is a continuation of OBUMERS desires!! This is by design, Obumer said it himself!! All Joe's Administration is woke, trans,gay, blacks, and Destroying this Country is their agenda!!
Great, your right where they want you, asleep. Riddle me this. Have you ever seen a hearing when they call someone to task and say, where are the answers to the questions that you said "I'll get back to you later"?¿? NEEEVER!!! It's all fake just like Big Mike!!
It's a civil conversation because neither know EXACTLY how the money system (In the U.S.) actually works. It's the lack of knowledge that still amases me. If I hear "bi-partisan" one more time... gezzz..!
Money does not bolster an economy, increased production of goods and services does. We kneecapped businesses and diluted the currency and wonder why we got inflation?
@@robertmcaree7016 no better that the government didn't shut down businesses. Individuals did choose to take handouts while businesses looked for employees. I know of several companies hiring at $18 or more. We will ignore the facts that this increases the cost of rents on the lower income people.
Spending bolsters the economy...if goods and services are produced and are not bought that is when businesses become kneecapped...the problem is where the bulk of the money went...did you get any?
@@MEMELIFEBABY this is a blessing for sure. The one good thing about technology is keeping government transparent to all citizens. Back before this it was like playing the game "telephone." You had to take things people said at face value. By the time it got across the country there are so many "truths" about what was said and what happened. Nowadays you can just look up the proceedings yourself, and see what was said and what happened on your own. You dont have to take the biased media's opinion at face value anymore
This is simple macroeconomics that I learned in community college way back when. It's embarrassing that these members of Congress are just now hearing about this.
Well, you need to go back to school. The tax bills enacted by TWO REPUBLICAN PRESIDENTS (Bush Jr. and Trump) have contributed more to our nation DEBT than any other factors. When you SPEND but don't tax like Republicans always do, the result is always inflation, caused directly by the action of these Republicans in congress. The pattern is... Republicans blow up the economy with their tax breaks for the RICH and Dems have to come in and FIX IT.
Inflation went up globally. You think you're smarter than every government on earth? 70% of Inflation had nothing to do with stimulus. What is true is that say, only 1 or 2 trillion should have been spent and paid with taxes on high income earners. You're right it's a factor in Inflation but not the main cause. It's not like the whole world just skipped out on econ
@@olgaleshonok8093 He didn't need to pound the desk and wag his finger. He killed him with facts in a gentlemanly way. I thought he was very effective.
How are elected members of congress “fascinated” with what Massie is saying? This is literally macroeconomics 101. These people know nothing and control our entire economic livelihoods 😭
It’s essential that Congress is totally incompetent when it comes to economics. Would you call a lawyer to balance your accounts? Not likely. All they know is what the “experts” say, and the economic experts are just as partisan as all the other hacks who promote the status quo and power of the government. And yes, Trump was terrible on spending. The Republicans ignored the conservatives and caucused with Democrats
So Massie stated that majority of the money went to big businesses and they didn't do what they were suppose to do and increase production....some would call that corporate greed if they used it to do stock buy backs....
The answer is possibly yes, business did that. That was predictable. That is the reason it should not have been done. If I make cookies available in unlimited qty to my kids and they get fat, who is too blame. Me or my kids?
@@ericwelsh4853 so you admit you have to give back all your money in your economic model....yet the super rich get to keep theirs and governments cowtow to their needs and officiate at their gilded Getty weddings....while extolling the "working class".
@@walterpierce6061 you do realize lynching is already illegal right? So why exactly would they need another bill? I suggest you actually read these bills instead of spewing leftist cult talking points. Democrats like to pass puppy and kitten bills only to find out they aren't what they seem. I will look into his so called support of bidens Ukraine war.
Did that spending have an effect on the 10.1% inflation in the United Kingdom, 11% in Austria, 55% in Turkey, 17% in Poland, 10.4% in the European Union. 31% in Pakistan, 46% In Iran???
...and how much did they make outside of their government salary is the real question. Over half of Congress are millionaires. How is that even possible??
This was done purposefully and methodically. Not one citizen in this country had any control over these decisions because we were lied to, forced and silenced. Stay home, and get that muzzle on. Quite an alarming message displayed by citizens while this was all happening. For what? And to leave us where? Any Representative that doesn't accept and clearly understand it then verbally speak it honestly out loud, should not hold their position. It's evil. As far as citizens, remember this and learn. It's how we don't repeat things. The lies destroyed lives
@@rickprather2496 Instead,Trump wasted billions on a worthless wall on our southern border.That’s where that “military spending” that was actually designated to go to our military went to.
@@redman840 Do you think the money set aside for the wall would not have done its job if it was used in the manner of intention ? Are you in the habit of throwing money and labor away ? And why do you write anonymously. If your thoughts are genuine put your name on your them.
@MrBadassc8 covid messed the economy up and as Massie stated, the house of representatives have the power of the purse. They vote on it. Not the president. Both Republicans and Democrats screwed it up. 🙄
He's a disgrace. Massie voted against the anti lynching bill and refused to vote to condemn the Russian invasion of Ukraine. He supports Russia in the war against Ukraine. He's a male version of MTG.
I remember those days when the peanut farmer was running things. I could go into my local grocery store that still used a sticker with the price on top of the cereal box. The prices change so rapidly that you could peel through the stickers on top of a box of cereal to find out what it was just a week or so before. The prices may have changed three or four times before it left the store. Home loan rates during the time were reaching 20%. At the end of the 80s it was quite a big deal that you could get a home loan for 8 1/2 %.
Sadly nobody learnt the lesson. They don't remember why Carter had to fix a problem he didn't cause. That it worked and lowered the deficit.. Stabilized the econemy. They forget Clinton left a surplus for Bush to waste and make a mess for another Democrat to clean up. So they did it again and here we are. Another mess for anothe dem to clean up. Maby electing the people who keep making a mess is not a good idea.
@@danven1256 I remember the price stickers being "layered" on items! How fast they changed within just a matter of days, sometimes...oh and let's not forget the gas shortage and those long, long lines of vehicles waiting to get gas. And hoping that the gas station didn't run out of gas, before you finally got up to the pump, after waiting for hours.
@@etchalaco9971 yes independents, moderates and Republicans take care of all those people. Leftists and democrats take care of only those that agree with their agenda
@@James-dz7ek there is no such thing as independents. In politics you have to take sides. Moderates? Yes, but not republicans. They are pro business and business is about profit, not people.
Just seeing this now a year later. Loved that conversation. Both Raskin and Massie respectful of one another and working out a problem together even though they come from different directions. This is what The People expect from Congress. Well done, gentlemen.
serious question here, but if there is $5T more in circulation, why hasn't gold and silver moved vs the dollar significantly? With all due respect, I don't think the committee here is looking at the entire picture.
You seem to lack an education or understanding of what is going on here. This debt went up on trumps watch. The republicans don’t know how to govern. They just complain and don’t have any answers except give the wealthy a tax break.
They raised interests rates to slow down spending. The increase in housing, good and gas increased by companies to make their money back from the shutdown and higher wages. It's not really inflation as much as it is corporate greed. We are two years out from the pandemic. If not for greed, everything should be normally priced again. There should not be supply disruption due to the shutdown that caused low supply and higher prices. It's greed, plain and simple. And oil companies do not want to invest their billions in profits to increase refineries. They would rather do stock buybacks. We are being raped by corporate greed.
By all means, we should! But we mustn't announce when so they don't "cook the books" to hide their illegal activities. And when we do go in, we're going in with armed Marines or the National Guard personnel!
Why are lawyers in charge of the nations book keeping?? They have economic advisors but they decide in the end. These lawmakers are ruining our kids future
This is a stupid assumption. You don't put a doctor in front of a class with children, do you? The question is why is there a constitutional lawyer instead of an economist? Because it's not about finding the truth. It's a show by the Republicans.
I did not become homeless, again, or starve during the pandemic. ONLY because of those pandemic checks. It wasn't enough to pay my bills but it was enough to keep me from losing my home I ate all my stored food in my pantry and all my meat in the chest freezer and cleaned out everything edible over that whole year of unimaginable trauma, and I did not starve. So it sure made a huge difference to me that my government actually did what it should have by helping the American people directly. Something that also should have been done in 2008, instead of what they actually did which was bailing out banks. What happened then? People went bankrupt and lost everything. Except my bank actually used the money the feds gave them to forgive my defaulted loan, and many others as well.
Wow! This was very educational and it is good to see understanding of why inflation is out of control on both sides. Perhaps some REAL thinking and self-control in fixing this can happen!
Massie earned a bachelor of science degree in electrical engineering and a master of science degree in mechanical engineering from Massachusetts Institute of Technology Jamie Raskin is a constitutional Law Professor. They both have no business in economics Just saying
Oh yes, an audit is a great idea. And also let's see where all the "borrowed 💲💲💲💲💲💲 actually got spent on. ‼️ Itemized list of where all 💲💲💲 borrowed over the last 10 yrs let's see it🤨
All I know, is interest rates are extremely high and one of the main reasons is because banks know the value of the dollar has fallen upwards of 50%, interest rates current are set to a value where banks earn 200% in return. 100% for what was lent out and 100% profit. If you buy a $300k house in this economy with a fixed rate it will cost you $600k to buy that house. $300k is the value of the house, $300k is the interest you need to pay back to the lender. House and vehicle prices are also way over priced right now.
If govt wants to cut costs, here's a suggestion, stop corporate welfare, tax the rich, cut the military budget, demand that Congress go to work for us, roll back corporate tax cuts.....just to name a few....
Why is the FED withholding any information that help the Republican Oversight Committees “follow the money”, especially in Ukraine? Those are “our tax dollars”?
Current law prevents a full audit of the FED. Audit the FED legislation has been introduced repeatedly, but even when there has been a bipartisan majority of co-sponsors in the House, Senate Democrats have killed the bill.
@Tom Thelen The current administration claims that once USA "aid" to the Ukraine crosses the border of Poland and into the Ukraine it loses all tracking capability of the "aid." That's not just implausible, that's impossible. 31 Abrams tanks leave a hell of a "footprint" and money is readily tracked through the conventional international banking system.
And AOC actually has a degree in World Economics from B.U. She should ask for her money back because no one ever saw fit to hire her in her field of study. So she did what she knows... Tend bar.
@@etchalaco9971 If more people having jobs and more income is the result of government intervention, then it's bad, because government re-direction of resources can't possibly anticipate the millions of individual needs and spending decisions. Jobs and income provided by, or instigated by government intervention rewards special interest groups at the expense of all others. Government almost always misallocated and wastes resources.
Jamie Raskin finished high school at age 16. He has a BA from Harvard and a JD from Harvard Law School. There's no way he accomplished all that and somehow skipped basic economics. The real question is: Why is he lying? Why would a man who has two degrees from Harvard pretend to not understand the "pouring water into a glass of tea dilutes the tea" demonstration?
Why Does a Bank Use their Customers Money inside their Bank Accounts as Collateral to be used as Credit for the Bank to push Debt onto people for Profit
@@davidmeserole6566 That's the very business of a bank in today's economy. Not justifying the practice, just illuminating it. What's more is the government itself gives printed money to banks for the very same purpose.
@@STELLASCUTENESS How Many Times Did We Hear In The U.S.A about WMD's in Iraq? The U.S. Govt. Was Just Saying Recently how Iran Should have enough for a WMD - How Many Times Did We hear How Life Saving Govt. Programs Were Socialism? Even some that we already paid into for a Really long time.. How Many People don't have good Dental Coverage & Co Pays? and TEETH are generally considered as Cosmetic.. How many people got forced onto Prescriptions by the court & have to pay for Medical & even so due to ObamaCare penalties that are considered a Tax due to the Necessary Republican Supreme Court Justice that got it Legalized (which i believe may have been stopped by Trump & also Biden was on an Obama kick not that long ago idk) 🇺🇸
Raskin: "well, it did reduce the price of prescription drugs for millions, it reduced that inflation." Artificially lowering prices and leaving more money in circulation for use elsewhere DOES NOT reduce inflation. Only actions which tighten the money supply actively place downward pressure on inflation.
Don't think so Lynn. Check the facts. The debt ceiling has been raised since 1960, 78 times, 49 times under Republican presidents and 29 times by Democratic presidents. Also the house speaker puts a budget together and gets bills passed if able but she is not totally responsible for the debt. Nancy Pelosi was Speaker for quite a few years as well. It is both parties responsibility and the right by playing games saying they won't raise the debt can cause insecurity in the economy by allowing the debt ceiling to get to it's limit. Also the debt ceiling has money that was allocated already for it and the debt does not get higher by raising the debt ceiling. It is our responsibility. 25% of the now 31 trillion debt is from Trump's 4 years and the tax cut raised the debt a significant amount before the pandemic began. So do your homework before getting giddy at the fascist right pass the blame talk. Trump nor the right ever accept responsibility for anything. That's one of the first things I learned and taught my kids is to tell the truth and if you are wrong admit it. None of the right must have been taught those important lessons in life. And trump is incapable of telling the truth. The right has said the left is the reason for crime. Another load of BS. It is quite easy to get facts that the top four states with the highest crime rate are red states trump won. McCarthys district is called the murder capital of CA. Fact check it. Fox news is not a credible source of information as they have admitted. Tucker and the rest of the asses made fun of maga supporters and said they were stupid and still are lying.
It is pretty simple. If you have a lot more money printed, it causes inflation. If the amount of money stays the same, and certain products go up in price because of gouging, limited supply, or any other reason, some other things will become cheaper because fewer dollars are even available to go to them.
Inflation is still being effected by Lack of Oil Production and High Prices! When asked about OIL , FED chair said “ I have no power over them”. When asked if he could talk to Big Oil he’s said “NO”. Oil bottomed in early December and now has staged its own rally. I cannot s
bet you didn't know this about Alexandria Ocasio Cortez: As a teenager, she won second prize in the Intel International Science and Engineering Fair with a microbiology research project on the effect of antioxidants on the lifespan of the nematode C. elegans. In a show of appreciation for her efforts, the International Astronomical Union named a small asteroid after her: 23238 Ocasio-Cortez. In high school, she took part in the National Hispanic Institute’s Lorenzo de Zavala (LDZ) Youth Legislative Session. She later became the LDZ Secretary of State while she attended Boston University. Ocasio-Cortez had a John F. Lopez Fellowship. During college, she served as an intern in the immigration office during the final year of U.S. Senator Ted Kennedy’s tenure. She graduated cum laude from Boston University’s College of Arts and Sciences in 2011, majoring in international relations and economics. Those who call her names and put her down are intimidated by her intelligence and are afraid of how hot her fire burns. Better make sure that the people you attack aren’t out of your league. Go ahead and attack this young woman. I am going to get the popcorn. By the way the bartending job you all are so fond of mocking was a second job she took after her father died to help support her mother.
It's nice to see them teaching the democrats how government works. Raskin is not the best student, but maybe some of this knowledge coming from Massie will help.
The problem is if we had not done what we did, things would be a lot worse. Inflation is bad, but a depression is worse. Many, many businesses would have gone bankrupt. Many, many people would have defaulted on their mortgages. The supply chains would not have recovered nearly as fast. People would not have been able to get food or medical care.
Milton Friedman: Only Government Creates Inflation James Arendt Milton Friedman, July 31, 1912 - November 16, 2006) was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy.
Because the spending that Massie is referring to happened on Trumps watch. Massies theory about the world all printing money simultaneously is a reminder that there was a global pandemic.
The concept of dilution of money is so simple, a child could understand it. Would someone please bring Raskin a child? He can't make heads nor tails out of it.
@@nancyhoffman846 I'm 70 years old and I have never seen trickle down economics work. I remember the Reagan years and we had a terrible recession. These tax cuts for the rich help the rich. They do nothing for working class people
@@walterpierce6061 I’m about your age and I have never seen socialism work. Not sure why you insist on talking about trickle down which is a political concept and is different from supply side economics. Lower taxes paradoxically increase tax revenues by encouraging higher productivity and economic growth. It also depends on how tax cuts are financed and the health of the economy. When Trump cut taxes the economy was growing. Biden has weighed down the economy with spending and bad economic policy. Increasing taxes now would be a big mistake. We have to deal with inflation and spending first.
Ask the people who voted in John Fetterman, AOC, Adam Schiff, Maxine Waters, Hank Johnson, Ilhan Omar, Nancy Pelosi, and of course Scranton Joe "10% for the Big Guy" Biden himself.
NO EFFECT ON INFLATION...ITS OURIGHT STUPID TO PRINT MONEY THAT DOESN'T EXCIST..... SO WHAT HAPPEN TO THE MONEY THAT DID EXCIST & HOW WAS IT SPENT SO THE COUNTRY WOULN'T HAVE A RECESSION??? WHERE IS THE MONETARY ACCOUNTABILITY OF ALL MONEY SPENT EXCLUDING THE PRINTED MONEY!!! WHERE ARE THE FIGURES!!!
What effect did investment in crypto rather than the US dollar have upon inflation? Covid? War? Asian bird flu? Supply chain? Billionaires investing in global rather than us markets? Tax cuts to billionaires who could well afford to pay their share? Artificial lowering of the mortgage rates rather than allowing supply and demand? A million deaths dumped a lot of life insurance money into the market and caused many to retire early. Loss of productivity due to workforce stagnation.
Masie got a 2 hour dive into macoreconomics and decided to try be the most clever tool in the room. Problem is he ignores many of the fundamental things that drove all this and only chose to attack things he could get his head around but utterly ignored the factors that disagreed with his granstanding view.
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It’s frightening how little these people seem to know about the basics of running an economy.
Thats why they have 5 aides. Thats why govenrment spends so much money. The. The aides neeed 2 or 3 aides
They know exactly how it works. They are playibg dumb.
The whole Biden administration is incompetent and corrupt!!
@@kess6698 Right, This is a continuation of OBUMERS desires!!
This is by design, Obumer said it himself!!
All Joe's Administration is woke, trans,gay, blacks, and Destroying this Country is their agenda!!
ALL BY DESIGN TO EVENTUALLY IMPLEMENT THEIR SOCIALIST AGENDA.
This is good conversation that should happen more often. Kudos to the two congressmen.
Great, your right where they want you, asleep. Riddle me this. Have you ever seen a hearing when they call someone to task and say, where are the answers to the questions that you said "I'll get back to you later"?¿?
NEEEVER!!! It's all fake just like Big Mike!!
Well done. This is what real govt looks and sounds like. Thoroughly enjoyed this
This is just freshman Econ 101. What in the fuk are you talking about?
Dido....also we need persons like Kari lake,in office.the woman's a pit bull.
Enjoy your bread and circuses, or just circuses maybe.
It’s nice to see them, actually having a civil conversation instead of yelling and interrupting each other
What does it matter if they're too ignorant, stubborn or corrupt to fix the problem? The way they speak won't change anything
MGT isn't there.
This was refreshing to watch
It's a civil conversation because neither know
EXACTLY how the money system (In the U.S.)
actually works.
It's the lack of knowledge that still amases me.
If I hear "bi-partisan" one more time... gezzz..!
It's staged. Just like insurrection.
Now, THIS is a discussion worthy of a governing body! I'm being educated, this is wonderful ❤️
Now I have a bunch of questions...
Money does not bolster an economy, increased production of goods and services does. We kneecapped businesses and diluted the currency and wonder why we got inflation?
Ya, better that millions more individuals and small businesses go bankrupt!
If it hadnt been done, even more people would have died.
@@robertmcaree7016 no better that the government didn't shut down businesses. Individuals did choose to take handouts while businesses looked for employees. I know of several companies hiring at $18 or more. We will ignore the facts that this increases the cost of rents on the lower income people.
Spending bolsters the economy...if goods and services are produced and are not bought that is when businesses become kneecapped...the problem is where the bulk of the money went...did you get any?
@@tobinmenard3714 $18/hr is not a living wage, I don't know what to make of the rest of your comment.
Where did all the money go? Someone needs to FOLLOW THE MONEY.
It's funding all the woke garbage....basically, it was funneled to democrats and democrat allies. They robbed the treasury, basically.
Ukraine, then Joe's pockets
Ken
bush tax cuts, Trump tax cuts
@@tnuggyz He gave $120bil to Ukraine last yr PRES Hotel suit for the Illegals PresTrump lowered the GDP Gave money to people who just stayed home.
@@tnuggyz MAGA MORON
Thanks to Forbes for pulling back the curtain and showing these debates that previous generations had little or no access to.
Anyone can walk in and listen to this. Forbes didn’t do much. This is public domain.
@@MEMELIFEBABY not everyone can walk in
I'm starting to like this channel. The fact that they have not closed the comments is a plus.
and not giving 2 schitts on how to spell "inflation". free interns working for forbes sux
@@MEMELIFEBABY this is a blessing for sure. The one good thing about technology is keeping government transparent to all citizens.
Back before this it was like playing the game "telephone." You had to take things people said at face value. By the time it got across the country there are so many "truths" about what was said and what happened. Nowadays you can just look up the proceedings yourself, and see what was said and what happened on your own. You dont have to take the biased media's opinion at face value anymore
This is simple macroeconomics that I learned in community college way back when. It's embarrassing that these members of Congress are just now hearing about this.
Well, you need to go back to school. The tax bills enacted by TWO REPUBLICAN PRESIDENTS (Bush Jr. and Trump) have contributed more to our nation DEBT than any other factors. When you SPEND but don't tax like Republicans always do, the result is always inflation, caused directly by the action of these Republicans in congress. The pattern is... Republicans blow up the economy with their tax breaks for the RICH and Dems have to come in and FIX IT.
Congress has many lawyers, that includes defense lawyers who blame the world just to get the criminals free!
Interesting to see Raskin fans claim that Massie doesn't know what he's talking about. Ad hominem attacks. No actual arguments attempting to persuade.
Inflation went up globally. You think you're smarter than every government on earth? 70% of Inflation had nothing to do with stimulus. What is true is that say, only 1 or 2 trillion should have been spent and paid with taxes on high income earners. You're right it's a factor in Inflation but not the main cause. It's not like the whole world just skipped out on econ
How much of that money actually went into the general public hands (12%) ? The rest was blown by these clowns on pet projects.
Wow, respectful and thoughtful discussion of inflation. Good job Rep. Massie.
why respect commies 🤣 ruclips.net/video/WBhE3Vxz7_A/видео.html ruclips.net/video/rtpCUllxTRw/видео.html
He should have been savage!
@@olgaleshonok8093 He didn't need to pound the desk and wag his finger. He killed him with facts in a gentlemanly way. I thought he was very effective.
Half false.
Democrats don't care about consequences of their actions. That's obvious
The federal reserve needs an audit.
On all members of govt...see who has made big money ..my guess is many of them ..can image an audit of off shore access you would find lots
Big time,,,, long overdue. We need to have serious oversight,, ,not just a bunch of worthless, non productive chatter about it..
“Now you have to spend the rest of your life in the federal reserve”
It needs to be abolished altogether
Abolished.. .
How are elected members of congress “fascinated” with what Massie is saying? This is literally macroeconomics 101. These people know nothing and control our entire economic livelihoods 😭
It’s essential that Congress is totally incompetent when it comes to economics. Would you call a lawyer to balance your accounts? Not likely. All they know is what the “experts” say, and the economic experts are just as partisan as all the other hacks who promote the status quo and power of the government. And yes, Trump was terrible on spending. The Republicans ignored the conservatives and caucused with Democrats
They are blind sheep, obviously?
@Bert Bondy Probably because the only thing Democrats offer is tax and spend.
But but It's Trump's fault. Yeah, that's the ticket
Correction: they know EXACTLY how it works, yet did it anyway...
Or, if you give corporations large and long-term tax breaks- that increases inflation when paychecks do not increase.
Very impressed with how Massie handeled this conversation 👏👏👏
So Massie stated that majority of the money went to big businesses and they didn't do what they were suppose to do and increase production....some would call that corporate greed if they used it to do stock buy backs....
The answer is possibly yes, business did that. That was predictable. That is the reason it should not have been done. If I make cookies available in unlimited qty to my kids and they get fat, who is too blame. Me or my kids?
Point of reference: if I were to stack a one dollar bill every second, it would take me 32,000 years to stack one trillion dollars.
1 million seconds 7 days,,,,1 trillion seconds 33 thousand years. good post also.
I strongly suggest you don't count your trillion dollars that way. You'll never get a chance to spend it.
@@Stuff_And_Things if he's like me, he'll only need two or three minutes to stack all his money.
Yeah sad for future generations and us.
Not if you had a money printer in your basement. You could get that shit stacked real quick.
True or false: In the past decade the US treasury has received approx. $32.3 trillion in taxes , yet has spent $43.9 trillion😂😂😂
Which is proof you don't need taxes. If you create money there in no need to ask for any of it back.
Prob True as prob more monies, damn crooks
@@STho205 That's a recipe for hyper-inflation. It would wreck the entire economy.
@@ericwelsh4853 so you admit you have to give back all your money in your economic model....yet the super rich get to keep theirs and governments cowtow to their needs and officiate at their gilded Getty weddings....while extolling the "working class".
@@ericwelsh4853 "THAT'S the Plan.
Please, please, - - - PLEASE share this everywhere, all Americans must know this asap !
Thank You!! I love to see common sense☮️❤️🇺🇸
Massie is what this country needs more of to survive!
He would destroy this country.
He's an ultra right wing nut
More of people like him and less of people like raskin would do this country wonders
@@James-dz7ek Thomas Massie voted against the anti lynching bill.
He supports Russia in the war against Ukraine.
He's a ridiculous right wing nut.
@@walterpierce6061 you do realize lynching is already illegal right? So why exactly would they need another bill? I suggest you actually read these bills instead of spewing leftist cult talking points. Democrats like to pass puppy and kitten bills only to find out they aren't what they seem.
I will look into his so called support of bidens Ukraine war.
@@walterpierce6061 just because he voted against sending more money to Ukraine does not in any way mean he supports the war
Thank you Mr Massie- I’m glad you’re in there!
Do you know that trump made 1 quarter of the entire American debt from the first president to Biden 25 percent get it
I wish we had more like Thomas Massie in our government
You do, they are all the same, we are FOOKED
Did that spending have an effect on the 10.1% inflation in the United Kingdom, 11% in Austria, 55% in Turkey, 17% in Poland, 10.4% in the European Union. 31% in Pakistan, 46% In Iran???
More of this. We need to hear the rationale of the people making the rules for the rest of us.
How many raises did congress give themselves. And how much?
...and how much did they make outside of their government salary is the real question. Over half of Congress are millionaires. How is that even possible??
This was done purposefully and methodically. Not one citizen in this country had any control over these decisions because we were lied to, forced and silenced. Stay home, and get that muzzle on. Quite an alarming message displayed by citizens while this was all happening. For what? And to leave us where? Any Representative that doesn't accept and clearly understand it then verbally speak it honestly out loud, should not hold their position. It's evil. As far as citizens, remember this and learn. It's how we don't repeat things. The lies destroyed lives
TRUE!!!!!!
Can you imagine the position we would be in, if Trump hadn't spent the money on our military, we would be speaking a different language now !!!
@@rickprather2496 Instead,Trump wasted billions on a worthless wall on our southern border.That’s where that “military spending” that was actually designated to go to our military went to.
@@redman840 Do you think the money set aside for the wall would not have done its job if it was used in the manner of intention ? Are you in the habit of throwing money
and labor away ?
And why do you write anonymously.
If your thoughts are genuine put your name on your them.
What fabrication you believe, LolololololololoL
God bless Thomas Massie. We need a lot more like him. 🇺🇸🙌🏻👏🏻
Sassy with Massie!!! One of my favorite representatives.
Masses knows trump fucked the economy up.
@MrBadassc8 covid messed the economy up and as Massie stated, the house of representatives have the power of the purse. They vote on it. Not the president. Both Republicans and Democrats screwed it up. 🙄
Sassy bringin the Heat 🔥 Love it 🇺🇸
He's a disgrace.
Massie voted against the anti lynching bill and refused to vote to condemn the Russian invasion of Ukraine.
He supports Russia in the war against Ukraine.
He's a male version of MTG.
@@elaynadanner117 pleaseee..it was All republican fuck up and you know it sunshine. The fuck outta here!🗣🤛
Just look back when Jimmy Carter was in office 21% interest . Deja Voo
😮
🙄
I remember those days when the peanut farmer was running things. I could go into my local grocery store that still used a sticker with the price on top of the cereal box. The prices change so rapidly that you could peel through the stickers on top of a box of cereal to find out what it was just a week or so before. The prices may have changed three or four times before it left the store. Home loan rates during the time were reaching 20%. At the end of the 80s it was quite a big deal that you could get a home loan for 8 1/2 %.
Sadly nobody learnt the lesson. They don't remember why Carter had to fix a problem he didn't cause. That it worked and lowered the deficit.. Stabilized the econemy.
They forget Clinton left a surplus for Bush to waste and make a mess for another Democrat to clean up.
So they did it again and here we are. Another mess for anothe dem to clean up. Maby electing the people who keep making a mess is not a good idea.
Yes but he didnt have a 5 trillion dollar debt to go with it.
@@danven1256 I remember the price stickers being "layered" on items! How fast they changed within just a matter of days, sometimes...oh and let's not forget the gas shortage and those long, long lines of vehicles waiting to get gas. And hoping that the gas station didn't run out of gas, before you finally got up to the pump, after waiting for hours.
Massey is right on...5 Trillion printed dollars diluted the value of the Dollar equaling Inflation🔥🔥🔥🔥
yet corporations are making record high profits and the beauty industry is growing. Weird!
@@etchalaco9971you can thank democrats for that.
@@James-dz7ek Yes, we take care of everybody, the poor, the working class, middle class and even the wealthy.
@@etchalaco9971 yes independents, moderates and Republicans take care of all those people.
Leftists and democrats take care of only those that agree with their agenda
@@James-dz7ek there is no such thing as independents. In politics you have to take sides. Moderates? Yes, but not republicans. They are pro business and business is about profit, not people.
Just seeing this now a year later. Loved that conversation. Both Raskin and Massie respectful of one another and working out a problem together even though they come from different directions. This is what The People expect from Congress. Well done, gentlemen.
serious question here, but if there is $5T more in circulation, why hasn't gold and silver moved vs the dollar significantly? With all due respect, I don't think the committee here is looking at the entire picture.
Raskin has trouble when he's not twisting other people's words and facts. It puts him in a bind to have to express his own words.
Lies turn into a noose.
J
Raskin needs another booster...to help with his removal
Funny how Massie doesn't mention the six trillion dollars trump , Republicans and the Fed pumped into the markets in April 2020.
You seem to lack an education or understanding of what is going on here. This debt went up on trumps watch. The republicans don’t know how to govern. They just complain and don’t have any answers except give the wealthy a tax break.
This exchange was so calming to my spirit. No yelling, no accusing, just a good discussion. Maybe there's hope.
When do you ever hear Ratskin yell?
He just condescends everyone he questions..
HE needs to get flushed.
Hope is dangerous. When hopes are dashed, anguish is the result.
Every is always better when democrats are not in charge.
Your absolutely right it's the House and the Senate it's your debt not the American people most of them
Really good to see both side of aisle discussing issue, without Pelosi, sushing
They raised interests rates to slow down spending. The increase in housing, good and gas increased by companies to make their money back from the shutdown and higher wages. It's not really inflation as much as it is corporate greed. We are two years out from the pandemic. If not for greed, everything should be normally priced again. There should not be supply disruption due to the shutdown that caused low supply and higher prices. It's greed, plain and simple. And oil companies do not want to invest their billions in profits to increase refineries. They would rather do stock buybacks. We are being raped by corporate greed.
I wonder if we should AUDIT THE FED?
By all means, we should! But we mustn't announce when so they don't "cook the books" to hide their illegal activities. And when we do go in, we're going in with armed Marines or the National Guard personnel!
Why are lawyers in charge of the nations book keeping?? They have economic advisors but they decide in the end. These lawmakers are ruining our kids future
This is a stupid assumption. You don't put a doctor in front of a class with children, do you?
The question is why is there a constitutional lawyer instead of an economist? Because it's not about finding the truth. It's a show by the Republicans.
Why is it when trump raised the debt ceiling the republicans never said a word.
Make the politicians pay back their covid loans that were free loans for millions of dollars.
AUDIT...AUDIT...AUDIT...
I question Raskin's motivations. He is a "company" man. If it serves the dems he defends it. Period.
Exactly right on
Just like repubs tow the republican line all the way.
Atleast he said companies ended up with the money and half of his words are in a word salad without letting anything get answered
Raskin always has a hard time answering questions when he has to think.
Thank you for the work you do Forbes
You know Forbes is owned by China, right?
Rep Massie is brilliant, he's basic but to the point!
Look at what the politicians were worth compared to now I'll bet that their funds grew in leaps and bounds
I did not become homeless, again, or starve during the pandemic. ONLY because of those pandemic checks. It wasn't enough to pay my bills but it was enough to keep me from losing my home I ate all my stored food in my pantry and all my meat in the chest freezer and cleaned out everything edible over that whole year of unimaginable trauma, and I did not starve. So it sure made a huge difference to me that my government actually did what it should have by helping the American people directly. Something that also should have been done in 2008, instead of what they actually did which was bailing out banks. What happened then? People went bankrupt and lost everything. Except my bank actually used the money the feds gave them to forgive my defaulted loan, and many others as well.
Perfection. Excellent work. This is how it's done GOP. Grab your balls and tell the truth
Wow! This was very educational and it is good to see understanding of why inflation is out of control on both sides. Perhaps some REAL thinking and self-control in fixing this can happen!
Except that the other guy is voting and has no understanding of consequences
Massie is a smart man and I really see Raskin has no answer. Everything gets blamed on covid and that is why it was created I think.
I’m not sure why Massie is asking asking these questions- Raskin is not running the federal reserve…
Yes
In part, yes..that is why it was created
Massie earned a bachelor of science degree in electrical engineering and a master of science degree in mechanical engineering from Massachusetts Institute of Technology
Jamie Raskin is a constitutional Law Professor.
They both have no business in economics
Just saying
How refreshing to see a civilized conversation.
Yes, we are all nodding our heads.
I love this system. I love that they are public ally debating things again
C Span has been available since 1979..
Oh yes, an audit is a great idea. And also let's see where all the "borrowed 💲💲💲💲💲💲 actually got spent on. ‼️ Itemized list of where all 💲💲💲 borrowed over the last 10 yrs let's see it🤨
All I know, is interest rates are extremely high and one of the main reasons is because banks know the value of the dollar has fallen upwards of 50%, interest rates current are set to a value where banks earn 200% in return. 100% for what was lent out and 100% profit. If you buy a $300k house in this economy with a fixed rate it will cost you $600k to buy that house. $300k is the value of the house, $300k is the interest you need to pay back to the lender. House and vehicle prices are also way over priced right now.
This man is a gift to us. Go jamie
AUDIT THE FED!!!
If govt wants to cut costs, here's a suggestion, stop corporate welfare, tax the rich, cut the military budget, demand that Congress go to work for us, roll back corporate tax cuts.....just to name a few....
Why is the FED withholding any information that help the Republican Oversight Committees “follow the money”, especially in Ukraine? Those are “our tax dollars”?
Current law prevents a full audit of the FED. Audit the FED legislation has been introduced repeatedly, but even when there has been a bipartisan majority of co-sponsors in the House, Senate Democrats have killed the bill.
@Tom Thelen The current administration claims that once USA "aid" to the Ukraine crosses the border of Poland and into the Ukraine it loses all tracking capability of the "aid." That's not just implausible, that's impossible. 31 Abrams tanks leave a hell of a "footprint" and money is readily tracked through the conventional international banking system.
Basic economics...eludes these people.
And AOC actually has a degree in World Economics from B.U. She should ask for her money back because no one ever saw fit to hire her in her field of study. So she did what she knows... Tend bar.
More jobs and more people with income is bad for the economy?
@@etchalaco9971 If more people having jobs and more income is the result of government intervention, then it's bad, because government re-direction of resources can't possibly anticipate the millions of individual needs and spending decisions. Jobs and income provided by, or instigated by government intervention rewards special interest groups at the expense of all others. Government almost always misallocated and wastes resources.
Jamie Raskin finished high school at age 16. He has a BA from Harvard and a JD from Harvard Law School. There's no way he accomplished all that and somehow skipped basic economics.
The real question is: Why is he lying? Why would a man who has two degrees from Harvard pretend to not understand the "pouring water into a glass of tea dilutes the tea" demonstration?
@@ericwelsh4853 because no class ever took into consideration a world wide pandemic.
How do you borrow what you print
Why Does a Bank Use their Customers Money inside their Bank Accounts as Collateral to be used as Credit for the Bank to push Debt onto people for Profit
@@davidmeserole6566 That's the very business of a bank in today's economy. Not justifying the practice, just illuminating it. What's more is the government itself gives printed money to banks for the very same purpose.
@@STELLASCUTENESS How Many Times Did We Hear In The U.S.A about WMD's in Iraq? The U.S. Govt. Was Just Saying Recently how Iran Should have enough for a WMD - How Many Times Did We hear How Life Saving Govt. Programs Were Socialism? Even some that we already paid into for a Really long time.. How Many People don't have good Dental Coverage & Co Pays? and TEETH are generally considered as Cosmetic.. How many people got forced onto Prescriptions by the court & have to pay for Medical & even so due to ObamaCare penalties that are considered a Tax due to the Necessary Republican Supreme Court Justice that got it Legalized (which i believe may have been stopped by Trump & also Biden was on an Obama kick not that long ago idk) 🇺🇸
Wrong! You raise taxes in the wealthy, leave the interest rates alone.
Politicians should be held to account or get them the hell out!!!
Raskin: "well, it did reduce the price of prescription drugs for millions, it reduced that inflation."
Artificially lowering prices and leaving more money in circulation for use elsewhere DOES NOT reduce inflation. Only actions which tighten the money supply actively place downward pressure on inflation.
I love that he called out that it wasn’t the president in place it was the house that raised it that was under Pelosi
Don't think so Lynn. Check the facts. The debt ceiling has been raised since 1960, 78 times, 49 times under Republican presidents and 29 times by Democratic presidents. Also the house speaker puts a budget together and gets bills passed if able but she is not totally responsible for the debt. Nancy Pelosi was Speaker for quite a few years as well. It is both parties responsibility and the right by playing games saying they won't raise the debt can cause insecurity in the economy by allowing the debt ceiling to get to it's limit. Also the debt ceiling has money that was allocated already for it and the debt does not get higher by raising the debt ceiling. It is our responsibility. 25% of the now 31 trillion debt is from Trump's 4 years and the tax cut raised the debt a significant amount before the pandemic began. So do your homework before getting giddy at the fascist right pass the blame talk. Trump nor the right ever accept responsibility for anything. That's one of the first things I learned and taught my kids is to tell the truth and if you are wrong admit it. None of the right must have been taught those important lessons in life. And trump is incapable of telling the truth. The right has said the left is the reason for crime. Another load of BS. It is quite easy to get facts that the top four states with the highest crime rate are red states trump won. McCarthys district is called the murder capital of CA. Fact check it. Fox news is not a credible source of information as they have admitted. Tucker and the rest of the asses made fun of maga supporters and said they were stupid and still are lying.
Yeah, but, the president could have vetoed the spending bill. And don't forget, Trump gave away an additional 2 trillion to the 1%.
I thought it was Mitch McConnel that was really in control !
House might of passed it but congress passed it and trump signed It. 🤔
@@raymanbecker He is a senator.
It is pretty simple. If you have a lot more money printed, it causes inflation. If the amount of money stays the same, and certain products go up in price because of gouging, limited supply, or any other reason, some other things will become cheaper because fewer dollars are even available to go to them.
If the money chasing those "other things" goes down then production will reduce and unemployment will rise.
If you know nothing about economics be 🤫
Inflation is still being effected by Lack of Oil Production and High Prices! When asked about OIL , FED chair said “ I have no power over them”. When asked if he could talk to Big Oil he’s said “NO”.
Oil bottomed in early December and now has staged its own rally.
I cannot s
TM is the Goat. Thank you so much for fighting the fight. Our day to day spending on normal goods is out of control.
And some actually think raskin is intelligent... I would say he ranks right up there with aoc!!!
ABSOLUTELY CORRECT
But that would make him highly intelligent 🧠
You just wish you were as smart as this man. Love Massie taking the blame for raising the debt ceiling on trumps watch. What a guy
bet you didn't know this about Alexandria Ocasio Cortez:
As a teenager, she won second prize in the Intel International Science and Engineering Fair with a microbiology research project on the effect of antioxidants on the lifespan of the nematode C. elegans. In a show of appreciation for her efforts, the International Astronomical Union named a small asteroid after her: 23238 Ocasio-Cortez.
In high school, she took part in the National Hispanic Institute’s Lorenzo de Zavala (LDZ) Youth Legislative Session. She later became the LDZ Secretary of State while she attended Boston University. Ocasio-Cortez had a John F. Lopez Fellowship.
During college, she served as an intern in the immigration office during the final year of U.S. Senator Ted Kennedy’s tenure.
She graduated cum laude from Boston University’s College of Arts and Sciences in 2011, majoring in international relations and economics.
Those who call her names and put her down are intimidated by her intelligence and are afraid of how hot her fire burns.
Better make sure that the people you attack aren’t out of your league. Go ahead and attack this young woman. I am going to get the popcorn.
By the way the bartending job you all are so fond of mocking was a second job she took after her father died to help support her mother.
So, you haven't been watching for the last two weeks ...
It's nice to see them teaching the democrats how government works.
Raskin is not the best student, but maybe some of this knowledge coming from Massie will help.
Raskin is a trump-hating left wing idealogue....I doubt if any common sense will get ingested.
I am glad someone is acknowledging the problem.
Thanks, Forbes for publishing the meetings. I want to hear the facts. We don't get them from the media, left OR right.
Forbes is owned by China.
Thank you
"Inflation is always and everywhere a monetary phenomenon." MIlton Friedman
"boy he really showed him" said the dumb audience, when they found out their wallet had been dipped.
I wish all legislators would think things through as Rep. Massie has! Common sense is a rare virtue these days!
I like Kennedy, too.
The problem is if we had not done what we did, things would be a lot worse. Inflation is bad, but a depression is worse.
Many, many businesses would have gone bankrupt. Many, many people would have defaulted on their mortgages. The supply chains would not have recovered nearly as fast. People would not have been able to get food or medical care.
Good question Massie. About time.
Rep. Thomas Massie is correct!
Milton Friedman: Only Government Creates Inflation
James Arendt Milton Friedman, July 31, 1912 - November 16, 2006) was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy.
I love how Trump always gets brought in lol
Because it happened under trump
Fools and simpletons would not survive without bringing Trump up.
Its a great dog whistle for the base.
Invoking Trump is the new Dat racis'!
Ya he lives rent free in their heads. 😆 LOL
Because the spending that Massie is referring to happened on Trumps watch. Massies theory about the world all printing money simultaneously is a reminder that there was a global pandemic.
How many time can you hear them say insulin and prescription drugs. It’s like Russia Russia Russia
Maybe if they would stop increasing our ❤️rates, prescription costs would go down, naturally.
If they stop saying those things then what would they use for a dog whistle?
Stop the spend period!🙏🇺🇸
Thank you Senator Massie
Good point and good job Rep. Massie.
The concept of dilution of money is so simple, a child could understand it. Would someone please bring Raskin a child? He can't make heads nor tails out of it.
And thank you to the king of debt ,his wonderful tax cut raised the debt by close to 30% .
Lower taxes have been shown to increase economic growth and hence revenue.
@@nancyhoffman846 False.
Trickle down economics has never worked.
Never.
That goes back to the days of Hoover.
@@walterpierce6061 And Keynesian does?
@@nancyhoffman846 I'm 70 years old and I have never seen trickle down economics work.
I remember the Reagan years and we had a terrible recession.
These tax cuts for the rich help the rich.
They do nothing for working class people
@@walterpierce6061 I’m about your age and I have never seen socialism work. Not sure why you insist on talking about trickle down which is a political concept and is different from supply side economics. Lower taxes paradoxically increase tax revenues by encouraging higher productivity and economic growth. It also depends on how tax cuts are financed and the health of the economy. When Trump cut taxes the economy was growing. Biden has weighed down the economy with spending and bad economic policy. Increasing taxes now would be a big mistake. We have to deal with inflation and spending first.
The Federal reserve needs to be audited.... It probably abolished !
Bravo.
How do you even vote some one like Raskin into power
Ignorant voters
Deaf, dumb and blind helps I'm sure. Classic Democrat.
Ask the people who voted in John Fetterman, AOC, Adam Schiff, Maxine Waters, Hank Johnson, Ilhan Omar, Nancy Pelosi, and of course Scranton Joe "10% for the Big Guy" Biden himself.
STUPIDITY
Exactly, His constituents are all Federal employees, contractors, and business owners whose main customers are Federal employees and contractors.
Massie, you are a good governer. I hope people will listen to you.
Since the dollar is the Reserve Currency of the World - DUH - When we Inflate Ours It Hits Them Absolutely ! 😢
Just pay the Bill if you raise it 3 times for Trump just do the Right thing for the 🇺🇸People
NO EFFECT ON INFLATION...ITS OURIGHT STUPID TO PRINT MONEY THAT DOESN'T EXCIST..... SO WHAT HAPPEN TO THE MONEY THAT DID EXCIST & HOW WAS IT SPENT SO THE COUNTRY WOULN'T HAVE A RECESSION??? WHERE IS THE MONETARY ACCOUNTABILITY OF ALL MONEY SPENT EXCLUDING THE PRINTED MONEY!!! WHERE ARE THE FIGURES!!!
Ruskin got IQ of a pickle
He isn’t dumb. He is a propagandist and a liar.
@@jackiemartello7970 which means he dumb
What effect did investment in crypto rather than the US dollar have upon inflation? Covid? War? Asian bird flu? Supply chain? Billionaires investing in global rather than us markets? Tax cuts to billionaires who could well afford to pay their share? Artificial lowering of the mortgage rates rather than allowing supply and demand? A million deaths dumped a lot of life insurance money into the market and caused many to retire early. Loss of productivity due to workforce stagnation.
Masie got a 2 hour dive into macoreconomics and decided to try be the most clever tool in the room. Problem is he ignores many of the fundamental things that drove all this and only chose to attack things he could get his head around but utterly ignored the factors that disagreed with his granstanding view.
Awesome!
Last two years, Trump had Democrat congress, where all spending bills originate.
Exactly they wasted tons and tons of 💸💸💸 on stupid ridiculous investigations of Trump and his family!