So... who's right?

[Wayne]

Because of the 3.5 hour drive each way on my weekly commute, I just got XM radio for the iPhone in the truck. Works fairly well and I could use some channel recommendations though that's not really my question...

I'm sitting here listening to Glenn Beck. Don't ask me why, but the more I listen to what he's saying, the more sense he makes, as opposed to nutbags such as limbaugh and others...

... but I digress. Here's my question.

If someone like Glenn Beck --and I presume he's no true genius -- can sit here and explain economics, economic principals, and how mistakes are being made with such seemingly flawless logic that can even make me "get it" where economics is concerned, why isn't anyone who has the actual power to fix this economy listening...?

I realize that Beck's only presenting half the argument, but I surely don't see anyone shouting from the other side of the pulpit that massive spending bills and government handouts (ala Obama) is the right way to go...

These words, openly and admittedly spoken as a true economic neophyte.

Wayne

 

[redrumloa]

Wayne,
When I do listen to the radio, I listen to Beck. I also try to catch his TV show on occasion. Yes he does make sense, and that is the problem. You are now considered the far fringe right, even though Beck is a Libertarian.

Me? I find Beck to be almost spot on, very few things do I dissagree with him. His popularity is too the moon, at least his Fox TV show. IIRC he is now the highest rated cable show, at times rivaling prime time network TV. The (limousine liberal) left and even some of the right tries to portray him as a nut bag and anyone who listens to him is an idiot.

I think there is change happening in the country, look at all the candidates from both parties announcing they will not seek re-election. Middle America is livid, Glenn Beck just happens to be able to ride the wave. While his Fox TV show is new, I've listened to him on and off on his radio show for years. He hasn't changed too much, except grown a bit (IMO). He used to think Ron Paul was a nut for his view of the Fed and monitary policy, but is now warming up to ideas he used to think radical.

Welcome to the fringe right Wayne, at least that is what the liberal media will cal you.

 

[redrumloa]

About stations, since the merge with Sirius they have about the same selection on each except sports packages and a few special channels like Stern afaik. For those long trips between Alabama & Florida a few years back, I listened to a lot of "Raw Dog", the old lady liked "Blue Collar Comedy". I mainly just switched between all various Rock/Metal stations, with a little Blues, Oldies and Classical when in the mood.

 

[FluffyMcDeath]

If someone like Glenn Beck --and I presume he's no true genius -- can sit here and explain economics, economic principals, and how mistakes are being made with such seemingly flawless logic that can even make me "get it" where economics is concerned, why isn't anyone who has the actual power to fix this economy listening...?

Hey! I feel slighted. I'm even more correct and for longer than Beck

You want a good primer on economics - did you watch Money as Debt yet?

The first thing to note is that money IS NOT economics, but it is one medium through which economics may be served. How well it does that depends on who owns the money - I don't mean who owns how much of it, but who owns the power to create it - and on what basis they create it.

Glenn has certainly been warming to Ron Paul in terms of economics but Libertarian economics as it is currently formulated leads straight to feudalism because they believe in a free market but they also believe that a free market is what you get when there is no regulation. Think "free Hockey" or "free Football". What are those things without rules. How long would football remain recognizable if either team could do whatever they wanted to try to win? Before too long it would be a blood sport.

Adam Smith, the guy everybody likes to hold up as a free market authority, knew that a market needs regulation. He believed that earned income should not be taxed but that unearned income should be (investment income, rent etc.) and he believed that combines and corporations should be heavily regulated so as not to distort the market. Modern Libertarians seem to be quite OK with corporate rule.

And as for Keynes, everybody's favourite whipping boy, he believed that markets were NOT rational because people are not rational in the greek logical sense but tend to act with passion and in groups and that whatever businesses do, governments should do the opposite to even things out. When times are good, government should tax, partly to moderate expansion (something which central bank interest rates are supposed to do these days and interest IS a tax) and store value then to spend when the economy contracts so as to put money back into the hands of consumers to start the economy again. Government should be the shocks to the springs of industry - the government should smooth out the boom bust cycle that is a natural part of human herd behaviour.

That said, I do like Beck and Paul for kicking at some sacred cows. They will continue to be portrayed as nuts and outsiders though because they threaten powerful interests. It's a common tactic. Think about "Twoofers". About 70% of Americans believe that the government hasn't been fully forthcoming about the events of 9/11. ALL of those people have been lumped into the same category as people who think that holographic airplanes hit the towers at pre-installed mini-nuke locations. That's a heck of a lot of serious minded doubtful people to throw on the scrapheap of loondom.

Similarly, Beck says some things that hurt power. Therefore - he's a loon, don't listen to him. Fox plays a funny game with that one. They can't completely run over him because he has an audience and that means dollars, but I'm sure they bring pressure to bear because his TV position is sometimes pretty inconstant.

 

[redrumloa]

Similarly, Beck says some things that hurt power. Therefore - he's a loon, don't listen to him. Fox plays a funny game with that one. They can't completely run over him because he has an audience and that means dollars, but I'm sure they bring pressure to bear because his TV position is sometimes pretty inconstant.

I forget where I read this, but somewhere said Fox brought in Sarah Palin hoping she would be popular enough to bump Beck to a worse time slot or dump him altogether. Dunno if it is true or not.

 

[FluffyMcDeath]

Whatever Beck IS doing for Fox, they obviously view it as important enough that they are completely subsidizing his show.