Rep Pete Stark says the National Debt is an indication of American wealth.

Fresh from telling off Minutemen at a town hall meeting Pete Stark goes shooting off his mouth again during an interview.

Now he's saying that the National Debit is a sign of the nation's wealth and that the government will probably borrow another trillion dollars soon. He then goes on to mock anyone without a Masters or Doctorate in economics because us feeble-minded masses cannot understand economics.

He shows just how classy and educated he is by ending the interview with; "Listen. You get the [snip] out of here or I'll throw you out the window!"

WARNING: Swearing Congressman Not fit for little ears.



Being as that I'm one of those uneducated dullards who doesn't have one of those coveted masters or doctorates in economics, I was hoping that there was someone out there who could explain to me, is small words, how is it possible that a HUGE national debt could equal greater wealth?



See also: Congressman Stark Resents Hard-hitting Questions


Edit to add: xstealth pointed out to me that this isn't a recent vid. It's actually from 2008, that guy aged BADLY in just 2 years.

Still, it shows the arrogance of our public officials today.


[edit on 7/9/10 by FortAnthem]

I'm so proud of our Congress members, aren't you?

Yes, it's always a wonderful thing when your GDP is outdone by your debt. Everyone knows a country's debt is different than personal debt! Pfft.

No masters or doctorate but several college level courses in micro, macro, blah blah blah.

Here is the ONLY thing that I can think of when he is talking this way.

That all the debt is really not debt..........................that is all I got.

I am sorry, this guy's whole problem is his inability to formulate the bull# 20 minute Obama whirlwind speech that has ABSOLUTELY nothing to do with the question asked.

You know, Obama should give a class on political question and answer sessions. He is such a long winded, asinine, lying, blowhard; I am sure he would have all kinds of politicians lining up to take the course.

He could call it Liar U. Kind of a double meaning.


edit to add-ol Joe should have yelled U Liar go to Liar U!

[edit on 7/9/2010 by endisnighe]

We are slaves to debt. Anyone with a Masters in anything has been pretty well indocrinated into the system.

Go to school. Write your name. Get credit for your work. That is the whole system.

You want to end the national debt? Take the 80% administrative overhead off the top of the government.

No one every sees progress because we simply waste the federal reserve loan money on poor management.

What an arrogant %@&$!

He should work for the FED since he approves of printing money out of thin air.

Inflation anyone?

I hope he and many more get voted out.

Pete Stark is an asshat!

REPEAT Pete Stark is an asshat and should follow his own advice and get educated about the subject. I guess I'm richer than I thought!

Pete Stark says: "the debt itself may have been used for economic development."

WHAAAA!!!! The debt has been used for endless wars and to cover the banks bad bets, and that isn't prosperous for anyone but the bankers, and especially not the majority of the people or the country.

The printed money has not been used in any way to have any return in investment and so cannot indicate weath, but rather indicates; stupidity, insanity, corruption, greed and waste which produces nothing. And the wars result in further terrorism.

The end of the video gave me a good laugh though, and thanks to youtube the whole world is laughing at this pratt. HAHAHAHAHAHAHAAA!!!

[edit on 9-7-2010 by john124]

Originally posted by john124
Pete Stark says: "the debt itself may have been used for economic development."

WHAAAA!!!! The debt has been used for endless wars and to cover the banks bad bets, and that isn't prosperous for anyone but the bankers, and especially not the majority of the people or the country.

The printed money has not been used in any way to have any return in investment and so cannot indicate weath, but rather indicates; stupidity, insanity, corruption, greed and waste which produces nothing. And the wars result in further terrorism.

Said like someone without a masters in economics.


Shut up and sit down! Pete's degree is bigger than yours.


Edit to add: Hey, maybe not! I looked up old Petey's education background and it looks like HE doesn't have one of those economics masters degrees either:

Stark was born in Milwaukee, Wisconsin. He received a Bachelor of Science degree in general engineering at the Massachusetts Institute of Technology in 1953.[2] He served in the United States Air Force from 1955 to 1957. After leaving the Air Force, Stark attended the Haas School of Business at the University of California, Berkeley, and received his MBA in 1960. Stark enjoyed living in the Bay Area so much that he decided to settle there after graduating.

Wickipedia

[edit on 7/9/10 by FortAnthem]

reply to post by FortAnthem


By the way, what is his degree?

I swear, the longer someone has been in government service, the more their brain rots. Is there something in Washington D.C. besides corruption, immorality, bribery and threats that have de-evolved these folk?

Maybe there is a airborne pathogen that causes mad cow disease.

Originally posted by endisnighe
reply to post by FortAnthem

 

By the way, what is his degree?

You must've missed my edit above.

The best he achieved was an MBA.

That was back when Pete Stark was younger, he has been in congress 30 years or so.

Here is the idiot in action again a few weeks ago.

OUR BORDERS ARE QUITE SECURE!

Originally posted by xstealth
That was back when Pete Stark was younger, he has been in congress 30 years or so.

OOPS!

You're right! I thought the vid was recent because they were talking about the debt. Still, it's not from that long ago:

In an August 23, 2008 video taped interview with Jan Helfeld concerning the size of the national debt, Stark stated that the size of the national debt is a reflection of the nation's wealth.

Wickipedia

Man, That guy aged BADLY in just 2 years!

Maybe dementia is setting in.

[edit on 7/9/10 by FortAnthem]

Man, Stark got old fast. "Dang Nature you Scary", or perhaps he has lived a rough life of slurping at the leviathan's trough. It has aged him like when Senator Palpatine got his dark force shoved back at him by Yoda. lol

Originally posted by endisnighe
reply to post by FortAnthem

 

By the way, what is his degree?

I swear, the longer someone has been in government service, the more their brain rots. Is there something in Washington D.C. besides corruption, immorality, bribery and threats that have de-evolved these folk?

Maybe there is a airborne pathogen that causes mad cow disease.

There is something in Washington and it's called "POWER". Absolute power corrupts and politicians are especially vulnerable to it's influence. I'm not American but I think it's time that we should make our politicians salaries tied to their performance. You have to attend 80% of all votes, etc. I'm sure we can figure out something to make these jerks earn their paychecks. I think it's time they start paying taxes again. Maybe they wouldn't be so quick to spend Billions like gangbusters.

reply to post by FortAnthem

Being as that I'm one of those uneducated dullards who doesn't have one of those coveted masters or doctorates in economics, I was hoping that there was someone out there who could explain to me, is small words, how is it possible that a HUGE national debt could equal greater wealth?

Ok here's how it works.

He doesn't mean YOU as an individual. He doesn't even mean normal citizens in the United States. He means the Bankers. The HUGE national Debt is a great indicator of how much money these FED bankers are making off of our gross domestic product.

See, every single dollar represents a loan from the FED with interest. So in theory, the more they loan out the more interest they collect from us through taxes.

So the United States is doing GREAT with a massive debt, but only if your a member of the FED.

oh, I thought he meant that the extent to which other countries, ect are willing to loan us money is in direct relationship to just how well the economists in this country can keep the illlusion of "wealth" alive.

think about it, you see this guy, he lives in a million dollar mansion, has a few nice limos, ect......
but, he has an outrageous mortgage on the mansion, on the limos, uses his credit cards for his grand $1000 pizzas, and well, if a day of reckoning came today, well, he would be found to owe much more than all his assets are worth! In reality, his wealth is just an illusion, and in that day or reckoning he would be found to be poorer than that poor somali fisherman, since that fisherman would probably at least break even, and this guy would be in the red!

and well, the more deflation takes hold, the more wealth becomes illusion.
That man with the mansion, he could be a person, who used credit to buys all his nice toys, or he could be a business who just expanded, or he could be a country, or he could be a bank even!!
and in the past few years, they have all seen the value of their assets go down, and are probably sitting in the red!

Debt=Wealth

it's true whilst your spending it but then ...........................

BANG

Originally posted by FortAnthem

Shut up and sit down! Pete's degree is bigger than yours.

i think he's got a little toy is you get my meaning