This clip from Jared Bernstein, Chair of the council of economic advisors, may help alleviate a fear to those who believe “those in power” are smarter than you. Economics is simple….1) prices fall to the marginal cost of production in a free market and 2) We trade with each other (all over the world) to gain more value. It just looks hard through a system trying to deceive you to retain its power over you.

Replies (26)

Aren't they playing "stupid" It is also a well known and widely used tactic. Your enemy just think you're stupid and plays accordingly. The "Biden" case so seems like a playbook example. Sick "older man" who doesn't know what he is doing 😝
Hey Jeff, while this man in the clip is clearly a buffoon, this clip is lifted from the documentary, Finding the Money, which is a completely bullshit-propaganda movie by Stephanie Kelton, highlighting the nonsensical “advantages” of Modern Monetary Theory.
Stawkeye's avatar
Stawkeye 1 year ago
My fear is that “those in power” are even dumber than me.
The best thing about this was seeing the first comment beneath the video on YouTube: ‘At last, a new Monty Python skit’
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Lo 1 year ago
Government: This is taken out of context.
What a boost of confidence for all of us Listening to this fellow suddenly elevates us to the status of flat out geniuses 😂 Saw this on Swan but it needs to be broadcasted and spread far and wide. And yes thank you for reminding us of the simplicity of economic principles 🙏
Jeff, are we certain this is a real video? I only see this snippet and cannot find the whole thing. Makes me wonder if it's not fake. It would not surprise me in the least if this video was 100% legit but I have to wonder (I hate that I have to wonder). Is there a link to the longer video from which this came?
This is a key point. Most people believe the people in power, especially in the finance world, are way smarter cuz they “understand the complexities” of the fiat system. But the truth is, there’s no complexity, it’s simply a scam, where the obfuscation and confusion is on purpose.
HoloKat's avatar
HoloKat 1 year ago
it seems edited in the middle too, perhaps on purpose