Roderick Long: Obama (on Leno) just said that the problem with the boom was that it was based on “paper money.” Then he quickly corrected himself and said “paper profits” instead.
At about 3:00. (Update: whoops the video is removed on grounds that it is a massive violation of human rights to show you what the president said, a pure act of theft of private property, a huge imposition of aggressive force against another fellow. And you thought you were merely watching infinitely reproducible images and sound that take nothing from the original owner!)
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http://www.nbc.com/The_Tonight_Show_with_Jay_Leno/video/clips/president-obama-full-interview-319/1067541/
I haven’t had a chance to find where the slip is, but there’s the full video at NBC.
Transcript: http://www.huffingtonpost.com/2009/03/20/obama-on-tonight-show-wit_n_177206.html
In the video link above, it’s at -12:21 (the time counts down in the display).
Maybe there is a misesian slip some where beneath keynesian garbage but for the life of me I don’t want to search for it.
http://www.youtube.com/watch?v=W4SL3NITTUw
From about 3:50 on.
Some Obama Quotes
But I think the most important thing that we can do is make sure that we put in a bunch of financial regulatory mechanisms to prevent companies like an AIG holding the rest of us hostage. Because that’s — that’s the real problem.
The change I’d like to see in terms of tax policy is that we have a system, going back to where we were back in the 1990s, where you and I who are doing pretty well pay a little bit more to pay for health care, to pay for energy, to make sure that kids can go to college who aren’t as fortunate as our — as my kids might be.
Most of the stuff that got us into trouble was perfectly legal. And that is a sign of how much we’ve got to change our laws — right? We were talking earlier about credit cards, and it’s legal to charge somebody 30 percent on their credit card, and charge fees and so forth that people don’t always know what they’re getting into. So the answer is to deal with those laws in a way that gives the average consumer a break.
Jeff, you need to respect the property rights of the IP owner, GE Corp.
The video on youtube has been removed.
“Paper profits”; another elusive term coined by the government? He surely means unrestricted injection of credit into the economy…
Well, Obama has a lot on his mind right now:
thecitizen.com/~citizen0/node/35703
Q Like Mother Teresa now. (Laughter.) He makes VISA look like ohhhh –
THE PRESIDENT: Well, and part of what happened over the last 15, 20 years is that so much money was made in finance that about 40 percent, I think, of our overall growth, our overall economic growth was in the financial sector. Well, now what we’re finding out is a lot of that growth wasn’t real. It was paper money, paper profits on the books, but it could be easily wiped out.
The slip is here:
It was paper money, paper profits on the books, but it could be easily wiped out.
Timothy, thanks for that.
“Back to the system in the 1990′s”? Now what “system” was that? And the electorate accepts this nonsense, this tripe.
I recall hearing about Clinton’s great television presence and speaking ability. Reagan’s too (the Great Communicator). Huh?! Reagan never spoke anything but platitudes. Communicator? Even before his sad bout with Alzheimer’s, he always seemed befuddled by questions, requiring pre-written lines. Obama is the same. Clinton was constantly, repeatedly, saying nothing (his wife, even worse). Read the transcript of his interviews, the press briefings. He says… nothing.
And the complicit media and the confused electorate listen and nod.
These “leaders” are never called on their comments. Never challenged (I refer not just to campaign rhetoric, but on specifics and precision, the implication of their arguments, the nuts and bolts of what they espouse.)
What they really need is not the feigned courtesy of an Anderson Cooper, looking ever-so-serious, but obtusely lending credence to the rubbish, but something well-deserved and plain. Something like this: “Excuse me, Mr. President, but…. but… I’m sorry, sir, but exactly what the hell are you talking about?!!!! What does that mumbo-jumbo mean, if anything?”
The quotes you offered above are readily consumed. Is any of the rhetorical yammering framed within the context of the nature and role of government in a free society?
The establishment left (since Obama is their man; the right would be just as defensive with one of their own) shall justify, nay, shall embrace and applaud these comments, will clutch to the egalitarian promise, act on his assessment of the problems, champion any action of the state as a response to his strategic plan, even though there is no meaning; there is no analysis; there is no plan.
It is emptiness, play acting, celebrity gaming, show business. And the lesson is not lost on the president’s media lackeys: “Give the people what they want.”
“I’d like to reinstate my previous claim of ‘shenanigans’. All the games at this carnival are rigged.” – Kyle Broflovski
Interesting, but Obama can’t make “Misesian slips” unless he has some inkling of the truth in the first place. In which case, he’s just speaking a lot of doubletalk nonsense and hoping something sticks to the wall.
Props to anyone who could sit through the whole 20 minutes of that. I could handle about 1 minute.
Money and Ethics
Friday, March 20, 2009
“Blame” Pointed In The Right Direction On Leno.
Jay Leno asked some pretty good questions, which means he actually has some independence. Do you get the circle of logic here? Because he has some independence he asked some pretty good questions!
It was clear that Jay Leno perceived the real issues better that Barack Obama. The reason? Did you hear Barack Obama talk about Washington as a place where things are being done to solve the problems? To believe that is very strong evidence that he hasn’t a clue!
And then there was the rhetoric about ethics and morality: spoken as money is being printed by the unnamed and unblamed counterfeiter and channeled via the system of corruption.
At least the blame game is pointed in the right direction now.
@Larry: I haven’t seen the video yet, so the body language and delivery may corroborate your point; but the fact that he knew to correct himself suggests that he may be more of a crafty Orwellian than you give him credit (you know, credit? the “lifeblood of our economy?”) for.
Remarkable his skill at selling the idea that he’s just a humble little cog having to be told what he can and can’t do.
http://opaoearazao.blogspot.com/2009/03/obama-responsabilizou-o-papel-moeda.html
can see show on the link above. Right after the 12:25 (countdown)
I liked the parts where he said:
“people need to have confidence in our banking system”
“the banks aren’t lending out the money we gave them because their balance sheets are in really bad shape”
What scared me was the hope that manifested itself in the form of frantic cheers from the audience. Lets all get excited about the fact that even though we live on a volcano that may or may not be dormant we at least have a leader that is going to fix all our problems so we don’t have to be responsible or fearful again.
The scary part for me was where he compared using a credit card to buying a toaster.
“If the toaster explodes, you have recourse. But if the credit card, or your mortgage explodes…”
People obviously have to be protected from making “bad” decisions, by law.
“bad” as defined by Obama.
FNORD
Interesting, I don’t know what to do with it.
On the one hand, as Shakespeare said (the Bible never did), “even the devil can quote scripture for his purpose.” Microtrends are popular right now and political scientists are starting to spend a lot of time trying to get candidates up to speed about how to drop little, unobtrusive things that turn small communities on into their speech. It isn’t inconceivable that Obama calculated he could get 1% of the Paul vote next time based on this slip. Of course, that’s not much, but it’s costless, so why not?
On the other, it does sound much more like a slip, either innocent (“paper products” sounds a lot like “paper money”) or Freudian (lying gets fatiguing and the truth inadvertently slips out sometimes when people are tired).
I don’t know, but it’s curious, and I’m glad it was pointed out.
Why are we wasting our time dissecting this shit?
Obama doesn’t have a thought enter his head until it first enters the head of his Keynesian advisors and plutocratic handlers. Misean slip, my ass.
Obama isn’t going to get into an economic debate with anyone, either. His mind is made up. You want the policy to change, the only way forward is a direct attack on the entire regime. There will be no dialog.
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