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July 11 (Bloomberg) -- Blackstone Group LP co-founder Peter G. Peterson celebrated the launch of his $1 billion foundation last night by showing off his latest acquisition: a documentary that examines the perils of the U.S.'s debt.
If you believe the politicians, we can keep borrowing and spending and never have to pay it back. It's a "faith-based" economy where there never is a day of reckoning.
If you believe the politicians, we can keep borrowing and spending and never have to pay it back. It's a "faith-based" economy where there never is a day of reckoning.
This also applies to the credie card industry as well as guvmint.
Check the Showtime documentary entitled "Maxed Out."
Very well done.........
I realize my post is a little late, but I would like to contribute. Though perhaps the premise of this movie seems righteous, I think it is a bit misguided. I am all for free thought and motivating the average citizen to stand up for the causes they believe in, but this documentary lacks something, and it is getting sensationalized in the media. Here are some things that I'd like to point out about this documentary not addressed in the reviews I have read. I decided to do some research after watching this, then I watched it again.
This is a documentary funded by the Peter G. Peterson Foundation. Now this organization at face value seems like it is doing a very righteous thing. Talking about their concerns with the national debt and getting the message out. Well here are just a few things about the foundation and it's founder.
1) Peter G. Peterson was the secretary of commerce then the chairman
of the council on foreign relations. In 1969, Peterson was invited by philanthropist John D. Rockefeller 3rd (red flag), CFR Chairman John J. McCloy (red flag) , and former Treasury Secretary Douglas Dillon (close friend of the rockefellers- red flag) to chair a Commission on Foundations and Private Philanthropy (misanthropy?), which became known as the Peterson Commission.
[url=http://en.wikipedia.org/wiki/Peter_G._Peterson]Peter George Peterson - Wikipedia, the free encyclopedia[/url]
He also serves as Trustee of the Rockefeller family's Japan Society
and the Museum of Modern Art, and was previously on the board of
Rockefeller Center Properties, Inc..
He was also Chairman of the Federal Reserve Bank of New York (great big RED FLAG) between 2000 and 2004.
First line in the movie:
"I will argue that the most serious threat to the united states is not someone hiding in a cave in pakistan or afganhistan but our own
fiscal irresponsibility."
Now, there is some merit to this quote. We are as a whole fiscally irresponsible. We buy **** we don't need and cannot afford. But who has created this new age of "easy credit"? And who is making all the rules that govern the interest rates, and financial regulations with regards to this? The FED.
Another message that came from this movie. We need to either raise taxes or close down the federal government completely. Really? What are those taxes paying for dear?
Then the overall message I suppose is, we need to save money. Wait why? You mean we need to put more money in banks? Or should we save money so that in the long run we can pay for bigger things like home loans, etc (ironically Peter G. Peterson is also the founder of the Blackstone group which offers private equity, real estate, and hedge funds). Well now I understand how saving money is going to improve our national situation. So really they mean spend more money, but on more "important" things?
Trade imbalance- definitely a problem. We're importing more than we're exporting. Does this mean we aren't producing in this country? Well, lets address the real problem: Companies are outsourcing jobs because it's cheaper to produce in other countries. In-turn, we are not producing anything here. So, we have to import everything. We are a resource rich country and could easily produce everything we need here. Yet the power hungry big business wants to save a nickel by manufacturing in impoverished countries.
In the movie, they ask: When the Federal gov. needs to borrow money, what do we do?
Answer: we borrow money from other countries. Nothing is even mentioned of the Federal Reserve from which we constantly borrow money (as it is a private institution).
And an interesting quote by Alan Greenspan:
According to Alan Greenspan we are trying to consume more than we produce. So, in the long run this will not work. Ok Alan good point. Let's not do that. Let's instead produce money out of thin air that is not backed by gold or silver, and continually create inflation and debt. That'll work in the long run.
My opinion: This movie attempts to place the blame on the average American citizen. The debt chart shows that our debt has increased over the years. It BRIEFLY shows how our debt truly started to climb the same year as the FED was put into place and the income tax was created, then simply ignores this as a symptom. The National debt has gone from 5.3 trillion to 8.8 trillion just from the Bush Administration. Yet, as the movie claims, if we changed the the policies implemented by bush (including the war in Iraq) we would still not address the financial crisis. This essentially, takes rightful heat off of the Bush Administration.
This movie is currently being shown nationwide. I suppose in a way it's good because it might actually get people to think a little, but I think the message is misguided. I'd like to see some of the documentaries I have watched get shown nationwide. Example:
America: From Freedom to Fascism.
A documentary by Aaron Russo detailing the workings of our central banking system. To catch your attention, I will just say this THERE IS NO LAW THAT REQUIRES YOU TO PAY A FEDERAL INCOME TAX. Among other things discussed: the Patriot Act, the IRS, the new electronic voting system, RFID chips, etc...
[url=http://video.google.com/videoplay?docid=-1656880303867390173&hl=en]America: Freedom to Fascism - Director's Authorized Version[/url]
Just to show you how publicized this is, this is a short list of places it is playing (not including the UK).
Nov 20, 2008
I.O.U.S.A. Screens at Kansas State University – Salina Campus
Nov 20, 2008
I.O.U.S.A. Screens at Arizona State University -Tempe campus
Nov 20, 2008
I.O.U.S.A. Screens at Michigan State University
Nov 20, 2008
I.O.U.S.A. Screens at Pacific Lutheran University in Tacoma, Washington
Nov 21, 2008
I.O.U.S.A. Screening hosted by Palm Beach County DEC, 2008
I.O.U.S.A. Screens at Cornell University in Ithaca, New York
Nov 23, 2008
I.O.U.S.A. Screens at Busboys and Poets in Washington, D.C.
Nov 25, 2008
I.O.U.S.A. Screens at John Michael Kohler Arts Center in Sheboygan, Wisconsin
Nov 25, 2008
I.O.U.S.A. Screens at San Francisco Main Public Library in San Francisco, California
ITVS Community Cinema hosts a screening of I.O.U.S.A. in San Francisco, California.
Nov 25, 2008
I.O.U.S.A. Screens at Starz FilmCenter in Denver, Colorado
Nov 26, 2008
I.O.U.S.A. Screens at John Michael Kohler Arts Center in Sheboygan, Wisconsin
ITVS Community Cinema hosts a screening of I.O.U.S.A. in Sheboygan, Wisconsin.
Dec 1, 2008
Northeastern University screens I.O.U.S.A. in Boston, Massachusetts.
Dec 2, 2008
I.O.U.S.A. Government Accountability Office screens I.O.U.S.A. in Washington, DC.
Dec 7, 2008
I.O.U.S.A.Northeastern University screens I.O.U.S.A. in Boston, Massachusetts.
Dec 7, 2008
I.O.U.S.A. Screens at Avondale City Council Chambers in Phoenix, Arizona
Dec 11, 2008
I.O.U.S.A. Screens at Benedictine University
Benedictine University screens I.O.U.S.A. in Lisle, Illinois.
Dec 12, 2008
The Economic Focus Group Hosts a Screening of I.O.U.S.A.
I.O.U.S.A. screens at the Cosmos Club hosted by The Economic Focus Group in Washington, D.C.
Dec 17, 2008
I.O.U.S.A. Screens at Burton Barr Central Library in Phoenix, Arizona
Dec 18, 2008
I.O.U.S.A. Screens at Charleston County Public Library in Charleston, South Carolina
Jan 11, 2009
The American Farm Bureau Welcomes The Fiscal Wake-Up Tour (Twice!)
The Fiscal Wake-Up Tour will come to San Antonio, Texas
Jan 23, 2009
5th District Democrats hosts screening of I.O.U.S.A. in Sammamish, Washington.
Mar 4, 2009
I.O.U.S.A. screens at the National Defense University in Washington, D.C.
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I.O.U.S.A.- misguided
