Young Turks: Cenk Debates Tea Party Author John O'Hara

[CherylK]

Run time: 11:28 https://www.youtube.com/watch?v=F98R2fNwBJU   Posted on YouTube: January 27, 2010 By YouTube Member: Views on YouTube: 0   Posted on DU: January 28, 2010 By DU Member: CherylK Views on DU: 818

 
http://newamericanteaparty.com/author/johara/

http://www.huffingtonpost.com/cenk-uygur/an-invitation-to-the-tea_b_419707.html

[democracy1st]

1. Boom! Cenk totally broke his foot off in this guys a... and proved my point the teabaggers are

nothing but rightwing cover. There's noway progressives will be able to work with this group. K & R

[spiritual_gunfighter]

2. Great point democracy1st

These teabaggers are free market right wingers in a very poor disguise. Cenk brings up a great point, where are the marches and protests on Wall St.? They would never do that because their corporate masters won't be having any of it. I think that the everyday common teabagger is totally oblivious to it, but they are being led by these corporate interests. I agree you could never work with these people when they are so blind to who is leading them on.

[democracy1st]

4. +1 agreed and i'm not trusting this admin until I see results

[freedom fighter jh]

3. The fractional reserve system is itself a huge government subsidy.

Cenk and O’Hara agree that if the fed gov’t doesn’t have to bail the banks out, the banks should not be limited in their leverage. That is, if lending out $100 for every $1 deposit were not a formula for “blowing up,” as Cenk says, then it would be only the banks’ business.

I disagree. Allowing the banks to lend out more money than they have is in itself a huge benefit that the government gives the banks, and it is the source of most of the banks' profits. The people pay for it indirectly by having a money supply that is created by the banks for the banks' benefit, rather than by the government for the people’s benefit. So it is the people's business and the government has a right to regulate.

True free market libertarians, like Ron Paul, understand this and want to change it. And no, I am not a Paulie; I have serious, fundamental problems with Ron Paul -- but I do think the man makes some good points and is sincere. O’Hara’s argument, as Cenk points out, is to have government involved with the banks when and only when that works for the banks.

The Tea Party movement has some true grass roots. But some of its spokespeople are corporate shills who try to take advantage by pretending to be populist.