Thanks for posting that and I have no real problem with most of it other than the emphasis that govt can and should be in control of so much. The key is spending - that part is correct. But having too much "easy" debt is what caused the economic mess we have now such as creating "credit" out of thin air (the Community Reinvestment Act - decollateralized loans to those that wouldn't or couldn't repay them just walking away). That kind of credit will eventually ruin the system. It is true that spending runs the economy, but if that were always true on face, all we would have to do is just immediately print 17 trillion dollars and call the debt "solved". There are holes in that video.
But here is something that we all need to keep in mind during this (ignorant) idea that less work means more growth. People who have investments, savings, mortgages and those billionaires who are rich, don't sit around all day counting their money like a monopoly player. That money is in the form of economic growth that provide jobs, industry, energy, quality of life for people that exchange their work for those life "needing" goods and services. Printing money out of hand makes all those paychecks worth less and if the "credit' is just parcelled, then eventaully the economy collapses. Its what happened when the stock market crashed before most of us were born. Decollaterlized stock was sold "on a margin" without much backing it up. The end result was the Great Depression.
This post was edited on 2/11 3:11 PM by rabidTU
