Video: Mobile book
Discussing Sowell’s book “Economic Facts and Fallacies”. . . January 29, 2008. . . search keywords: ron paul milton friedman christopher hitchens ayaan hirsi ali richard dawkins salman rushdie andrew sullivan noam chomsky bill maher real time new rules keith olbermann rachel maddow ann coulter glenn beck rush limbaugh sean hannity o’reilly dennis miller hugh hewitt michael medved john stossel larry elder shelby steele interview speech debate
Was that someone snoring at 1:06-1:10??!!
@matlynch123 Complete bullshit! That is the precise reason we are in the shape we are in. It’s very logical and I can’t believe that most people like yourself just don’t get the big picture. The government cant solve anything!
@matlynch123 Complete bullshit!
@matlynch123 Reagan cut top tax rates which set off the economic boom, causing huge inflows of tax revenue to the treasury. While his military spending did cause the debt to spike, it was the democrats massive social spending that really caused the national debt to rise. Also, he promised he would increase military spending in his campaign for president. A strong, well-funded military is a core Republican belief. It’s also authorized in the Constitution.
@tomthefunky But you cannot say the boom in the 80s was due to less government spending because THERE WAS MORE GOVERNMENT SPENDING. Reagan’s intentions are irrelevant. If he intended to balance the budget why did he massively increase military spending?
P.S. Tax cuts are government stimulus. I never said tax cuts during recessions were bad – they are good – Thomas Sowell is the one who said governments should do nothing.
@matlynch123 Every budget Reagan submitted to congress outlined spending reductions totaling several hundred billion dollars. But it was the democrat controlled congress which blocked it and enabled government to spend at the rate it did. Even still, Reagan presided over the greatest expansion of wealth in American history. He cut taxes, lowered inflation, and unemployment plummeted. He always regretted he couldn’t balace the budget but he was demonized for the cuts he wanted to make.
@tomthefunky Maybe you should read wider than one author. Then you may be able to engage with my arguments. Read a standard economics textbook, you will understand how the great depression was cured.
Reagan was a radical who increased government expenditure massively. Raising the national debt from $997 billion to $2.85 trillion. This led to the U.S. moving from the world’s largest international creditor to the world’s largest debtor nation. We then had a twenty year boom…
@matlynch123: Why ask me? Read Thomas Sowell. He’s been swatting arguments like yours away like flies for over half a century.
“America had a stock market crash in 1987. What did President Reagan do?…. nothing….. We then had a twenty year economic boom”- Thomas Sowell
@tomthefunky So give me some other reasons. The point is that governments are the only entity that can stimulate growth in a recession because recessions are crises of CONFIDENCE. No one wants to take those first steps towards recovery and lose out so the government must. Or the recession stagnates.
I want to add a non-economic point: Regardless of their work ethic; people suffer in depressions. There is a moral duty to forgo wealth in the future for wealth now to ease that suffering.
@matlynch123: You are right, but you are wrong when you say it was “THE reason” America prospered after the war. It’s ONE of the reasons America prospered.
It’s the leftist Keynesian principles in which YOU advocate that would have denied America a golden age.
@tomthefunky The reason the US profited was because europe’s(the main competition) productive capacity was severely damaged from the war. Europe had a massive demand and no suppliers – america had undamaged oversupply that could be reappropriated to europe. So without the war that golden age would have never occurred.
@matlynch123: The New Deal prolonged the depression. And the massive appropriations of money to the war effort didn’t bring prosperity to American’s. Prosperity came after the war when government intervention in the economy subsided.
@tomthefunky The spending in WW2 was far greater than the expansion of the money supply in the 20s, so according to your reasoning there should have been a massive Great Depression 2 after the WW2 spending, but there was not. So your argument is weak.
@matlynch123: Oh, how silly you are. We had massive government spending programs for ten years prior to WW2 and the economy got worse and worse.
“The best thing the government can do in a recession is do nothing” Wow. What cured the Great Depression? A massive government programme of spending called World War 2.
Youre wrong Prager, There was one man with more economic clarity than Sowell. Thats the man who taught Sowell everything he knows. He died in 2006. RIP Milton Friedman.
nakedBison69 the gay homosexual faggot spends every waking moment molesting unsuspecting little boys, hence the name “naked 69″
Sowell is great.
a video showing 2 heavyweight conservative thinkers and what do we get? Infantile name calling from 2 shining lights named SeeProfilerForDetails and nakedBison69 what a waste
seeProfileForDetails fantasizes about little boys and other people doing things to them
nakedBison69 fantasizes about little boys and other people doing things to them