CNN's Ali Velshi really goes to lengths to defend government

[TeaPartyPat]

KEITH MCCULLOUGH (GUEST ON CNN): I think what’s happening in Europe is just a preview as to what’s going to happen in the U.S. It all basically starts with debt. So if you believe as a government official that you can solve the problems that are anchored in debt with more debt you are going to end up with the same problems that the Europeans are facing. And I think that we are three to six months away from that coming home to roost here in the U.S.

VELSHI (CNN ANCHOR): Why is it that lots of people go out of their way, Keith, to tell us how the U.S. is not the same as Europe? Our debt issues are certainly are not the same as Greece’s, as Italy’s, as Portugal’s, why are you suggesting that we will get into the same pickle?

MCCULLOUGH: At the end of the day from a deficit perspective, the U.S. — the deficit as a percentage of your GDP is exactly like Greece. It’s going to be pushing close to 12 percent. And anytime we have an issue, like today, for example, with the jobs report what is the answer? The answer is more government, more government spending which is going to simply keep pushing that deficit?

VELSHI: Hold on. What are you talking about? When you have a jobs report like this week, the answer is more government, more government spending? Where did you hear that from? We’ve been discussing that endlessly. That has not been anyone’s suggestion.

MCCULLOUGH: Well I think that that is definitely going to be the suggestion. If you look at this mornings …

VELSHI: Keith, this isn’t an opportunity to just come up on TV and bash government. What are you talking about?

MCCULLOUGH: This morning’s number, if you look at the job ads, 400,000 of them were government-hired workers.

VELSHI: So no one has come out and said, oh my god, let’s have 800,000 government jobs next month. Everybody has said, this is not the way we actually want things to go. We want more private sector hiring. Christine, have you heard one person telling you that this is fantastic; we should have more government hiring? I don’t know what Keith is talking about.

VELSHI: I don’t understand what your premise is, Keith, because that’s not the answer. What should we be doing differently?

MCCULLOUGH: Well the answer will be, from a political perspective, that is a forecast, Ali. That is a forecast. That is what government’s do that have problems, they spend more and more money, taxpayer money to hire.

I just saw this on the actual program (CNN Money) - and it is much worse than this transcript suggests. I was surprised at the vehemence with which Velshi goes angry at McCullough for suggest that US government debt will be an issue similar to the way that other country's debts are an issue to their overall economic health.

I agree with McCullough. People got very excited when the jobs numbers came out - and with the exception who can see things clearly - were still excited even after they realized that most of the jobs were government jobs. People don't seem to understand that governments are wasteful and I even argue that they are immoral since some of these jobs are just worthless (as in they do not have an inherent market value) and are paid for by unlawful appropriation (taxation) or postponed unlawful appropriation (borrowing THEN taxing to finance the debt).

Why is Velshi so upset that McCullough was critical of the government?

 

[HOLLYWOOD]

ALI VELSHI- Born in Kenya and raised in Toronto, Ontario, he is the son of Murad Velshi the first Canadian of Indian origin elected to the Legislative Assembly of Ontario. Velshi earned a degree in religious studies from Queen's University in Kingston, Ontario Canada.

First of all he entered the country under a Democratic Grant.

What's weird about this worthless Collectivist is he belongs to: Velshi is a member of the Economic Club of New York, and the New York Financial Writers Association

Are you kidding me? Tthis clown isn't even qualified to balance my checkbook! I can name 50 people on this forum that deserve to belong to those fiscal clubs much more than Velshi. Ali Velshi made an ass outta himself during the Market Economic collapse in the Fall of 2008 (Clueless Fool). He's still the same... a Statist Propaganda Pump Monkey Machine. CNN wants to know why their ratings are in the tank? Look no further than VELSHI.

 

[Andrew-Austin]

He has been reading the powerfully enlightened, not at all childish in reasoning think tank - http://governmentisgood.com/

Who needs libertarianism when you have armadas of quack moron "political science" professors informing the masses how wonderful institutionalized immorality is.

 

[TeaPartyPat]

Hollywood --> yes I also knew that he has a degree in religious studies and no clear degree or training in finance/business yet he is CNN's business correspondent and has written books about the financial crisis? Worst thing is, he is actually pretty influential when it comes to the amount of people that listen to his nonsense on CNN. How do we incorporate Ali Velshi as a a huge market distortion in our economic theories? lol

 

[AlexMerced]

Hollywood --> yes I also knew that he has a degree in religious studies and no clear degree or training in finance/business yet he is CNN's business correspondent and has written books about the financial crisis? Worst thing is, he is actually pretty influential when it comes to the amount of people that listen to his nonsense on CNN. How do we incorporate Ali Velshi as a a huge market distortion in our economic theories? lol

Velshi doesn't seem to get it half of the time, but two points in his defense...

...SOmetimes not having a degree in economics/business is to your benefit, I have a degree in popular culture studies and fromt he few economics courses I've taken compares to the massive amount of self-studiying, I would of been a statist if I continued undergrad studies instead of self-teaching.


that's it, his assumption, reaction, and presumptions in his questions totally reveal the narrative he was trying to paint.

 

[catdd]

Can't believe he would still have the nerve to show his face after being pro bailout and trying to convince the American public of how dire the consequences would be if we didn't go along.

 

[TeaPartyPat]

Alex
I agree that you do not need a financial / business degree to be knowledgeable in the areas of finance/business/economics (that is, self study does suffice in these cases); but you would expect that someone with the amount of power that Ali Velshi has (CNN's audience - for some reason - looks to him for financial advice), you would expect him to have AT LEAST SOME DEGREE of specialized knowledge in the field. Even the weathermen are meteorologists lol