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Bill O’Reilly Get Smacked Down By Economics Professor

'He is just making it up as he goes along...so he has to reach further and further into fantasy.' – Economist Richard Wolff

Video at link:

Economics professor Richard Wolff appeared on Democracy Now on Monday and gave Bill O’Reilly an intellectual smackdown.  Bill O’Reilly, in his “Talking Points Memo” had said:

Bill O’Reilly: “Greece, Italy, Spain, Portugal, Ireland, now Cyprus, all broke. And other European nations are close. Why? Because they are nanny states. And there are not enough workers to support all the entitlements these progressive paradises are handing out.”

The economics professor’s rebuttal on Democracy Now was epic:

Economic Professor Richard Wolff: You know he gets away with saying things which no undergraduate in the United States with a responsible economic professor could ever get away with. If you want to refer to things as nanny states, then the place you go to in Europe is not the southern tier, Portugal, Spain, and Italy. The places you go are Germany and Scandinavia, because they provide more social services to their people than anybody else.

And guess what, not only  are they not in trouble economically, they are the winners of the current situation. The unemployment rate in Germany is now below five percent. Ours is pushing between seven and eight percent.

So, ah, please get your facts right, Mr. O’Reilly. The nanny state you call it; the program of countries like Germany and Scandinavia who tax their people heavily by all means, but who provide them with social services that would be the envy of the United States, a national health program that takes care of you whether you are employed or not and gives you proper healthcare.

In France, for example, the law says when you go to work you get five weeks paid vacation. That’s not an option, that’s the law. You get support when you are a new parent, childcare and so forth.

They provide services and they are successful in Germany and Scandinavia, much more than we are in the United States; and much more than those countries in the south.

So they are not broke in the south because they are nanny states, since the nanny states par excellence are doing better  than everyone. The actual truth of Mr. O’Reilly is the opposite of what he says. The more you do nanny state, the better off you are during a crisis, and to minimize the cost of the crisis. That’s what the European economic situation actually teaches. He is just making it up as he goes along to conform to an ideological position that is harder and harder for folks like him to sustain so he has to reach further and further into fantasy.

by Anonymousreply 1903/26/2013

"Nanny state" is a pet conservative meme.

by Anonymousreply 103/26/2013

Conservatives like to bitch about the nanny state but then they support legislation to make women who get abortions have ultrasounds

by Anonymousreply 303/26/2013

R2 are you lost poor dear?

by Anonymousreply 403/26/2013

How shocking that somebody went on NPR and lambasted Bill O'Reilly.

Really, OP?

This is earth shattering news.

I never knew people disagree with O'Lielly.

by Anonymousreply 503/26/2013

Good lord, R2, you're really dumb. Although not perhaps as dumb as Bill O'Reilly.

by Anonymousreply 603/26/2013

R2 is a typical freeper. Too dumb or misinformed to rebut facts, so he (and I guarantee R2 is a he) smears the messenger. And not well.

by Anonymousreply 703/26/2013

Your absolutely right, R7. Thank you, Roland.

by Anonymousreply 803/26/2013

hilarious, but frankly, the professor didn't have to try very hard to smack down this idiot.

by Anonymousreply 903/26/2013

I mean really. How hard is it to be O'Reilly or anyone like him? You don't have to worry about your audience doing any fact checking, and if anyone tries to provide the audience with fact checks, they just get dismissed as the lying liberal media.

by Anonymousreply 1003/26/2013

R2, do you honestly believe that with degrees from Harvard, Stanford and Yale, Richard Wolff couldn't get a job in your beloved "private sector," so he retreated to academia? No, we all can't be Client Relations Supervisors at Amazon like you r2, but the man has somehow managed to cobble together a living over the past 40-odd years, and has some actual training and expertise in the area he's speaking about, unlike Bill O'Reilly. Of course, why would O'Reilly waste his time on Marxist education when his audience is people like you?

by Anonymousreply 1103/26/2013

Let me guess R2, everything you know about economics you learned from The Paris Business Review, right?

by Anonymousreply 1203/26/2013

I love it. So any smartie DLer care to breakdown why Germany/Scandinavia are so successful and Italy, Greece, et al aren't?

What's lessons in the differences in execution between the two European regions should we be emulating and learning from?

by Anonymousreply 1303/26/2013

R13 I would guess capitalism's step-children corruption and greed are behind the problems in Italy and Greece. Those two nations have long raised political graft to an art form.

by Anonymousreply 1403/26/2013

Greece and Italy's problems (and Spain's problems( have exactly nothing to do with their social safety nets (which weren't that generous to begin with).

Essentially, the problem began when they joined the Euro zone. Foreign banks (mostly Germans and Americans but some English and Scandinavians) assumed that now these economies were soldered to the German one and thus could enjoy German borrowing costs. So, the bankers dumped billions of Euros into these nations who proceeded (thanks to stupidity, greed and graft) to waste virtually every cent on unneeded vacation housing development, assuming that the constantly rising value of housing would take care of any excess debt.

We all know how that turned out.

The bubble burst and the Germans proved unwilling to backstop these economies. Interestingly, the debts were incurred by private banks but repayment was assumed by the governments. This is a problem of cronyism and bad corporate governance, not social safety nets.

Now, thanks to the cupidity and greed of the global financial elite, pensioners and teachers and road repairmen are facing massive cuts in their income, which in turn further depresses an already depressed economy.

And on top of it, they get sneered at by the likes of O'Reilly for being lazy takers.

Quite a trick, isn't it?

by Anonymousreply 1503/26/2013

Is the addictinginfo troll the same as the former huffpo troll?

by Anonymousreply 1603/26/2013

Greece has lower tax rates than us, but they're still European so they must be socialist, according to Bill.

by Anonymousreply 1703/26/2013

R2 WISHES he could get a job somewhere decent like a university. Sadly, he has to troll online for quarters from his freepish overlords. Tragic.

by Anonymousreply 1803/26/2013

I'd like to see Bill O'Reilly smacked down by a construction crane in Manhattan.

by Anonymousreply 1903/26/2013
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