Jon doesn’t need Apple

Jon can walk into any network he wants and get a show. He doesn’t give a shit about his superiors.

I love how at the end the guys was like *if I explain it really slowly and keep pausing maybe no one will notice that I'm saying exactly what Jon Stewart said*.

just said the same thing, I did not watch the clip, I watched the show on Apple Tv and was just rolling when he was like ... yeah, I woudl totally say that about Apple and myself.

Someone needs to clip that and add a COLOSSAL OOF to him saying "-- a somewhat looser labor market"

His point is simply that the economy was over-stimulated during the pandemic and that has been the significant driver behind inflation today. That's entirely true. Jon's only counterpoint is that he 'just disagrees'. That's not a flamethrower of truth, that's having opinions with now basis.

@@TerriblyNice_Not You realize Jon followed his assertion with a rationale and figures that supported his position, right?

Larry Summers is not an oligarch. He is their pet monkey

@@TerriblyNice_Not it isn’t THE significant driver. It’s A significant driver. We could tweak the other drivers but we chose to only tweak this one very hard and very fast.

"Stock market assets have gone up 150%, CEO pay has increased 1500%, workers wages haven't gone up at all" You were saying?

They don't have an argument. Their goal is to take you on a long story away from the truth, but Jon knows his way back.

@@TheGord I like this a lot. This is great and I will be using this in the future

I agree, but if you're on first name basis, please spell Jon Stewart's name right.

Jon is a Gift.

@@valk5045 Thanks. Never noticed that.

"...but we'll do absolutely nothing to fix it, because our philosophy is that it's actually a good thing for us," is how that sentence should've ended if this guy wasn't a slimy goblin-looking worm

Well I believe him : Inequality is indeed a terrible thing !

@@popydev he doesn't actually believe that is my point. He's saying it but doesn't believe it.

​@@cloud9847No, I'm certain he believes it. But since he's on the 'winning' side of inequality, I'd bet my last dollar that he thinks that inequality 'isn't his problem' to fix and that, as soon as someone does fix it, the world will be a better place. And that's the problem with these rich fucks. Every single one of them bemoans inequality, but none of them realize (or want to realize) that it is THEIR responsibility to fix the inequality.

@@cloud9847 he believes it, but doesnt want to solve it in a way that would actually hurt companies...the issue with neoliberals isnt that they dont see the problems. The issue is how they go about addressing them, if your first response to crisis is, that you have to save the companies and not the laborers, companies will inherently become self serving institutions, our first response should be to help workers not companies, because companies can fail, but every laborer that dies as a result of these policies is a resource we lose as society. If a company failes, the machines are still there, the jobs are still there, just the execs fucked up and have to actually work again... Companies should fail thats the fucking point of Limited Liability, let em fucking fail and give laborers a chance of rebuilding from the rubble, the Italian modell is great imo, allow laborers to "buy out" the company in case of a bankrupty before any other party

that's because it's the same message: workers must take the jobs we want them to take, on the terms we want. not their terms.

Very underated comment, during the pandemic when the stimulus went out, I heard commentary that the government raining money is making people not to work. And now wooo, too many people are working and all jobs filled, we need slush the job market so people can compete more for less labour conditions

That's what happens when the Fed prints $4trillion dollars in 18 months and unemployment is at record lows while inflation is rising drastically. The economy is way too hot and that's why interest rates are going up. Consumers are still spending too much (credit card debt at all time highs) and after a decade+ of easy/cheap money we're due for a recession.

Great point. And there are dozens of new billionaires due to covid and substantially richer previous billionaires and likewise mega-corporate profits. And as an aside, Jon cares and has enough integrity to call out Apple **on** Apple's own platform. The root of the problems never get addressed, and the same people, working Americans are always screwed with an ever-changing narrative to justify it no matter what. Shameless corruption has destroyed this country in short order, and we still haven't even repaired the ramifications of fucking slavery and racism, the very slaves that built this country merely a page in the history book ago per se.

Same message, the shot-callers say labor has too much power these days and that needs to be corrected.

When a comedian is a better journalist than 90% of the journalists out there, then you know the news media is broken.

More like the opposite. Stewart wouldn't let him answer the question. The man's a socialist with no understanding of economics.

When chitlibs get driven to self deletion by disingenuous media chit, its ok cuz more chitlibs will be weap0nized tomorrow to stoke vi0lence which encourages cha0s from all aspects of society, great work

Do you John Stewart ask this from dictators trying to overthrow American liberalism out of jealousy? Come debate us at Atheist Republic. This is ridiculous - this man hates America - send him to a dictatorship so he can appreciate America.

Being overcharged for AppleTV isn't quite the same thing as being overcharged for fuel and food tho, is it?

He's stunned because Jon's stance is absurd, he expects people to not try to maximise profits.

@@Photosounder, no, that’s not Jon’s stance.

​@@Photosounder maximize profits is evil. End it.

@@newagain9964, you just agreed with me. What you described is him trying to maximise his profits. In other words, he's stance isn't that he expects people to not try to maximise profits.

We are lucky to have Jon, and while people in this comment section agree and support his superior argumentative skills, our patriotic institutions will REFUSE to admit he's right. But Jon helps me stay sane.

You had me until you said "here in France." My friend, do not ever bring your country down to the level of the U.S. Our journalists support the capitalists here better than anyone else in the world.

Reminds me of Carlin a bit in these 1-on-1 interviews. It's rare that someone comes along who can see these issues clearly, without giving in to despair.

@@sipper2136 Me too. Being compared to Carlin is probably the peak for Jon. The only time I've ever seen him beside himself over someone was interviewing Carlin on TDS. Pretty sure he's Stewart's idol.

For sure it is crazy how many basic economic lies that have been peddled by politicians and corporations into believing the only way to help the "economy" aka the corporations is to aid the supply side and often wreck the demand side via unemployment to help "bear the burden", "share the pain" while earnings calls are having parties.

Amen! I wish more actual reporters were like him.

I a little surprised that the Hislop interview was your first exposure to John Stewart. His The Daily Show was very much out there with many interviews though much shorter for the half hour show. If you wish look them up, they are very good.

He's a national treasure.

I agree.

AND an amazing comedian too :)

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Out of a bunch of ridiculous quotes this one took the cake. "All of a sudden". Corporations care about you to the extent that they can make money off of you, after that you can rot and die for all they care.

That is literally what he is saying.. WOOSH

I literally had to stop the video at that point because I was baffled by this level of gaslighting

i believe they both agree on current social need for higher corporate taxation.

Such a f*cking smooth brain. And these are the people making fundamental decisions on our lives.

That's one of the many things I appreciate about Jon - he's at LEAST as smart as the people he interviews and can call them on their BS. He goes in very prepared.

His face when John bad talked apple was priceless. He could have sworn he had him in a bind lol.

😅😅😅😅😅

I wondered why did he bring up apple on

Not exactly...he just said they're worried about inflation. They are as they should be, but the solution he supports makes them worse off by forcing them to bear any/all negative impacts of fixing inflation. That's where I think the "agreeing" ends. Of course, fixing inflation requires a trade-off somewhere in a fixed system like the economy, but why tf does it always have to fall on the people living paycheck to paycheck?! At least, that's what I think most people would say to this guy.

@@Ignominal He is also ignoring that while inflation is bad, the alternative was basically $0 of income for moths and closed businesses with no compensation. To use his metaphor, inflation is the side effect to cure the disease of unemployment. He wants it the other way around.

WHAT? HUH? I like that too ,telling on himself that he also likes uneducated, uninformed, ignorant people. Makes him and his kind alot of money$$$$

What do you know anyway? you're a poor.

@@khatool Inflation is not a 1 to 1 with the cure though. Which is the point Jon is trying to make. A large part (at least 40% according to John) of the inflation is due to the steep increase in profits, salary raises and payouts of the rich. Which is what SHOULD actually be fixed!

Jon is also very good at dancing around as well and ignoring key points to suit his narrative. It's easy to get behind Jon's arguments because they speak to us (the average citizens) even if the argument isn't always sound.

@@amanasd26 are you implying that in this clip his argument is not sound? Then please tell us exactly which argument and why.

@@ricardoaraoz717 Parts of Jon's argument are sound while others are not, I will provide a more detailed response when I get a chance. One of they key problems here is both sides entrench themselves in their point of view refusing to see the merit of the others explanation. Summers with his old school approach to economic problems and Jon who panders to his audience. Both have some good points to make, but the convo is so surface level it's impossible to go into minute details. It also doesn't make for good tv.

@@amanasd26 "point of view refusing to see" - so if a thief's point of view is he wants all your money and your point of view is you will give him none, then both sides shouldn't entrench yourselves in your points of view and you should give the thief HALF your money? "Summers with his old school approach to economic problems and Jon who panders to his audience" - so Summers has an "approach to economic problems" whereas Jon just "panders"? I can clearly see what your way of not to "entrench" yourself in your point of view is. Just BS, go sell your snake oil somewhere else, will you.

@@ricardoaraoz717 way to just learn harder into your own biases, not even remotely the point I was trying to get across. Honestly I don't think you were ever trying to engage in good faith.

After relying on the same talking points for decades, a bigot gets lazy. He thinks his points have withstood the test of time and no one will waltz in here and simply tear them apart. That would never happen! .... in walks Jon Stewart.

😂😂😂

Attacking corporate profit, whatever that means, would literally accomplish nothing in reducing the growth of inflation. Nothing

By the way, if you notice, they're only ever attacking low level employee wages, they're never even talking about manager and CEO compensation.

@@MrShakenbake2012 Oh really? How did you come up with that conclusion? First you claim you don’t know what corporate profits means when you say “whatever that means” Then you jump ahead and conclude that it would have no effect on inflation Well, how do you even know the conclusion if you dont even understand what corporate profits means? Sounds like you are just repeating corporate propaganda

@@MrShakenbake2012 You just admitted you don't even know the meaning of the word but you know it will do nothing to fix inflation? Was that a typo or are you just repeating what you were told to believe without given it a second thought? It's one or the other!

@@ec6052 Lets he how he rationalizes his way out of it

He's brilliant.

Why didn't HE run for president? Of all the celebrities we have, why... the pumpkin monkey king? Why not this hyper intelligent, empathic, sensitive, reasonable man here? What is WRONG with half of America? Save us, Jon Stewart...

@Laimbrane yes, he absolutely would, but I agree with you, he's too smart to take it on, he no doubt understands how limited his power to affect any real would be, sadly... How freaking sad is it that our government is too corrupt for decent men? I think Biden is a good man, perhaps ineffectual as president in these times, but 50, heck, 20 years ago I think he would have been truly great, and done good things, he WANTS to, but he can't unless he plays as dirty as the other side is all too willing to play, and he won't stoop that low, I admire him honestly... Anyway, sorry for the tangent!

@@pariahmouse7794 Why wouldn't he? Easy. The Republics want a populist demagogue with a fanatic supporter base, who can easily be manipulated through his ego. The DNC wants a puppet. If they didn't want an easily controlled puppet, they would go with literally anyone BUT Joe Biden, the senile geriatric who has serious difficulties putting a coherent sentence together, finding his way on the White House lawn, or going up a single flight of stairs. Literally no political and economic force in the current United States wants a president who can think and act on their own.

​@@pariahmouse7794 Biden was marching with MLK back in the day. Guy definitely has good intentions at least.

Larry wasn't pivoting to anything. Jon brought up a stupid point about C-suite inflation like the dumb populist that he is, which has no relation to the issue that is currently being discussed. He's just conflating issues to make a dumb point, only morons would think that his arguments are salient.

Especially when discussing big oil

When the Economy is "Too Good," Markets gripe that it's 'Too Strong!' :-))

Compared to Historical Average Interest Rates, the Markets have been Spoiled - like a Rotted child.

A pullback by the Fed will galvanize Moral Hazard with the Market. It will signal the Fed is always beholden to the Market, as their primary Benefactor. Christine Lagarde (ECB) did a good job delineating the Central Bankers role w.r.t. the whiny, spoiled, Markets' and Bankers' exceptional self(ish)-'Interest,' by sticking to her guns and raising the rate by 50 basis points, in the face of the Credit Suisse debacle, on Thurs., March 16th. ... :-))

..at the price they want to pay which is below inflation.

Exactly, and the attitude that overworking yourself is ALWAYS a good thing makes sure they get their fill

American factory workers and miners have repeatedly had their strikes broken by the national guard: the gov't agrees that they _are_ entitled to your labor.

They don't call us slaves any more were "employees".

"You are not entitled to our products, but we are entitled to your labour."

But then they cut of Summers' answer about labour market softening! Jon's integrity is certainly unquestionable, but his views on economics are old-fashioned and second-hand

​@@TerriblyNice_Not I mean, they cut it off as soon as Larry said he was right... so... I am not sure where else that could have gone better for Larry. He seemed to be unable to answer much of Jon's discussion without obfuscating and trying to make Jon stop talking about it.

Larry has never been wrong about backing the interests of the corporations and the ultrawealthy. Larry is a good dog. Good dogs get a biscuit. Or to keep their job.

And during this questioning he was trying to blame the progressives by saying they were asking for the stimulus. Disingenuous Larry.

Jon lost a huge amount of his credibility based on how he treated Andrew Sullivan

Because they believe he is not smart enough to expose their bs lies and greed.

ego

The way I see it is that Larry owned Jon in this debate. To each his own, but you are likely in an echo chamber if you think Jon has any evidence to back up his "corporate greed" argument. There are no legitimate economists that believe this is a valid argument. Jon is the Tucker Carlson of the Left and Larry is an academic.

They think they can outsmart him and twist him up, but he's light-years ahead

They're so used to the corporate media softball questions that they default into thinking that an interview with Jon is going to be the same.

I love how Larry keeps bringing Jon back to the important points that Jon wants to point out.

@@marca9955 came here to say this

The important points are way over Jon 's head! There is no such " price gouging" that is a term that communist propagandists made-up. EVERY price is set by supply and demand, unless you're in a communist economy. No one is going to sell anything for less than the market allows! including you , him and Bernie Sanders.

I think Larry was self-aware and just didn't have enough shame to stop himself.

A lot of Larry's points are rationalizations in defense of the status quo.

Our whole political system.

You spelled species wrong.

There's no way to do whatever it is Jon is talking about. If you want to earn more money then get skills people care about or learn to spend less money. The government isn't going to be able to change anything of significance outside of what you do to yourself

more like the world and why all conservatives are fascists

Sounds about right

Hea trying to manipulate the audience into seeing Jon as a have like him and the audience is the have nots so if we are against him we will also have to he against Jon as well. He's really bad at manipulation though.

Your mom is disgusting, but keep collecting those government checks buddy.

How this guy has had the biggest jobs in the American economics profession is rather wild to me

@@frostfang1 Well he tried, but i dont necessarily think he's bad at it, rather Jon was willing to go there and say that both of them are beneficiaries of a broken system, the difference is Jon looks at it and wants to change it, Larry looks at it and says it works for me so we shouldn't touch it. Frankly I respect Jon a hell of a lot more for that.

brugh, larry can identify brugh. he's legit brugh. ur prolly just a poor anyway. sorry he don't live like a dawg enough to speak ur language boy.

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There are other ways to keep the labour market tight. Cutting legal immigration and cracking down on illegal immigration would be a big one. But funny, don't see Jon proposing that fairly obvious idea and somehow I doubt he will do it in the future.....

@@StormInATeaCup35 And what percent is that? and you’re still not addressing the problem of the fed wanting to cut jobs

@@StormInATeaCup35Mate. If you have time to write a sarcastic ‘gotcha’ comment, in the comments section in KZfaq, but you can’t find 5mins to chew Jon out on any one of the numerous points he’s made, what’s the point of the ‘gotcha’ comment? Bud. The man’s been a beacon of incorruptibility since 1993. Measure your public credibility against his. I know mine would fucking measure up! Put it away & have a listen. He’s not here to entertain. Right or wrong, he really is trying to find out what’s wrong with things and it’s never always immigrants & unemployment. ❤️

@@richardhadley6243 Lol you done bro? Got your feelings hurt bad over 2 sentences LMAO, go back to minecraft limp wrist

He has always been this way. Even on the Daily Show. Not sure what you mean at al.

You don't give him enough credit for his past deeds

@@mdillinger2010 look back on his interviews where people, yes, treated him as a journalist. He would reply, along the lines of "but I'm not. I'm a comedian. I'm a satirist." His interview with Tucker Carlson over Crossfire was a tipping point I feel like. Where he was still the funny man, but in that moment he was no one's monkey. He seems to have let go of that caveat.

@@brawndo8726 don't make assumptions based on your interpretation of less than 100 words

Stewart battles these quys with brains and composure. I would love to hear what they have to say after Stewart is done with them. " I thought that went well." Yea right. Go Jon

Yep.

Capitalism creates vulture capitalists due to the structural incentives. The system is the sickness, the corrupt people and institutions are the symptoms. Yes, we do need to address the sickness, funny enough Larry said something about that, but he wasn't talking about the root problem: monetary-market capitalism! I wonder what Larry and those corporate capitalist guys would say about a local co-operative strategy like One Small Town Contributionism that aims to use cooperation, collaboration and co-ownership to create abundance and prosperity for all, by the people and for the people?

there is no vulture capitalism there's just capitalism. capitalists are colonists when they need a new market, imperialists when they have an army, vultures when they secure that market, and eventually fascists when the infighting begins

He worked for government and you called him a capitalist lmao He isn't even an entrepreneur or director lol

If politics weren't so questionable I'd want to see him run for president. Maybe when Bernie retires if AOC doesn't eventually run

@@juusukun I think he’d do a great job fighting for the right things.

@@CornerCamper he's said he doesn't want to run but maybe that's exactly the type of man we need for president. Zelenskyy started by holding up a mirror to politicians by playing the president in a fictional tv show. I wonder if he felt the same way as Jon does at first

Brugh, nin 11 was totes an insider job dawg.

Jon missed the obvious solution , you can lower demand from the top income earners and work down

@@bleacherz7503 Lower Demand by taxing them, 99% on all money over 1 billion

Maybe "Economics" ought to put the term political in front of it's name as is often the case in some instances.

Had the same thoughts. The fed has a dual mandate. And when it comes to increasing the money supply, for whatever reason, its willing to innovate beyond sub-zero interest rates decreases by doing things like restructuring its balance sheet, taking on municipal and corporate debt. So why can't it go beyond the sledgehammer of interest rate increases when it comes to protecting worker wages while keeping prices down?

@__redacted__ Cause that would require them to inflict economic costs on the wealthy, and that can't be allowed. Much preferried to throw millions into unemployment.

The only thing challenging was making sense of this dishonest edit lol why they duplicate the clip of Summers moving his mouth sideways and blinking? They also showed disconnected reactions, you can tell by the posture. What gives?

​@@theofficialmascot Being skeptical of media is great. But dishonest how? Did you watch the full interview or find Larry Summers complaining about how xyz point was left out? Cutting down a longer interview to a ~10 minute form factor is youtube optimization 101. Doesn't mean the producers maliciously changed the nature of what was said.

@@jayff0000 they did a double clip of the jaw move, prolly cuz it makes Summer look bad. Also edited composition of sentences Jon saying, different from related response Summer displayed. That, is outright dishonest.

Well, twenty years, at least. This reminds me of Bernie Sanders vs Alan Greenspan in '03.

@@theofficialmascot Oh, look, the official corporate mascot. You can't comment on the validity of the actual arguments, so you try to distract with inconsequential details in the editing.

Exactly, I've been telling my friends and family. All these big ass companies just do is raise their prices even more so they don't take a loss, but we Americans do.

Uhh because that's not the cause? Are you saying businesses have never had record profits? It's literally in their balance sheet to have record profits every year. It's like saying iPhones get better every year

@@midgetwars1look at the egg industry, they went from almost out of business from the bird flu to making record profits! Btw many of these egg distributors never got hit with the bird flu, they just raised the prices to gauge us. Hopefully once Republicons are done with their dumb hearings and investigations they can look into that.

@@midgetwars1 Using the pandemic as an excuse is a first. Are you seriously bootlicking right now

@@midgetwars1 "Uhh because that's not the cause? " It's certainly at least one cause. Corporations can produce record profits either by raising prices or cutting costs. The fact that inflation was so bad shows pretty clearly that they did so this time by raising prices. Why is that so hard to understand?

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That was condescension that grew unchecked with no natural predators around for too long. The condescending that roamed during the Pleistocene. I was in awe to see it, I’d only heard of such bloated senses of self worth. Cheers!

@@0ddSavant Damn, son, that was nearly poetic.

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And had he been interviewed by just about any other "journalist" it would have worked to. I think his brain just broke when that tactic just crumbled on him

he either thinks Jon will defend them, or someone at Apple will cancel him. life is just a twisted game for Larry, he'd sell his mother for a quick buck if he could

LOL Indeed......... :)

Jon has no problem criticizing his business daddy. Where do people think John Oliver got his schtick from?

All he said is they should make less profit. Apple doesn't really care about that if they can make more revenue.

Look to France...both today & yesterday...eat the rich...🎯🎯🎯🎯💯

Well said!

Sign of a manipulator. Reminds me of Kenneth Copeland

Summers is a lightweight, though. He is a lucky buffoon.

@@andrewlocke6103 President of Harvard? Lightweight! (Oh, the internet.)

@@LichenAndMoss, simply a well-connected buffoon. Because he plays the game well doesn't mean he's not a buffoon.

Agree. I was so impressed with how Jon was able to not take Summers’ attacks personally and he continued to drill on Summers’ beliefs.

Been watching Jon for years, and he has no problem standing toe to toe with architects of BS like Larry Summers and his ilk!

There was no killing here. The discussion was loud, but on substance Jon killed no one.

Joe rogan does a better job

@@taLLdavidproduction Rogans a jerk.

@@taLLdavidproduction You mean the guy that claims he doesn’t fall for BS but at the same time started repeating false statements from 3rd hand accounts about kids using litter boxes in school bathrooms?

@@TerriblyNice_Not killing it: do something extremely well. Idiom. Informal.

Extremely reminiscent of Tucker Carlson going "You need to get a job at a journalism school" at him on Crossfire, almost two decades ago. Everyone thinks it's gonna go different for them.

If only there was a system where employees owned the means of production. Then the workers would enjoy the fruit of their labors instead of the c-suite enjoying the fruit of the workers labors.

In Canada , those companies where called CO-OP , for cooperation, and workers all had put down a small amout of money so they could save a company. Then it worked so well that they thought, we are going to hire some CEO's that are more educated than us so we can make more money together. Unfortunately you can all see what happens next, the CEO bought out the companie from the workers, a small share at a time, and HE got richer, and bought out more workers, and before any of the workers that were left noticed , it was back to the beginning for them . And the they are replaced by ROBOTS. ......

@@muslalah5567 Agreed. What we need is a system where the means of production can be owned by the workers by allowing them to purchase pieces of the company. To protect against risk, allow the workers to actually buy pieces of thousands of various different companies, not just the ones they work for. Call these little pieces "shares", maybe, and then give preferential tax treatment to those workers that want to divert a piece of their income to purchasing said shares through a company-backed plan named after a section of the tax code. 4...0....1....k. Or something to that effect. Maybe some day. One can certainly dream lol.

So you wanna fix the problem by going back to the easy money policy from the past decade that got us into this mess? Of course corporations are gonna have record profits when the government is dropping money from helicopters. The major problem with affordability in the country is housing prices and rent. The housing bubble was in part created by cheap money and low interest rates. It was basically a Ponzi scheme that makes us believe were richer than we actually are.

@@doctorpoopypantz6003 I think you might be conflating capitalism with the free market. Regardless, have no fear! I’m in the process of starting a worker cooperative, and might try my hand at consulting companies whose succession plan would be an ESOP.

The system is rigged! They spend billions of dollars every year lobbying to get what they want. Well, we know what they want. They want more for themselves and less for everybody else, but I'll tell you what they don’t want: They don’t want a population of citizens capable of critical thinking. They don’t want well informed, well educated people capable of critical thinking. They’re not interested in that. That doesn’t help them. Thats against their interests. They don’t want people who are smart enough to sit around a kitchen table to figure out how badly they’re getting fucked by a system that threw them overboard 50 fucking years ago. It's too late for it to change. When all the old politicians die off you'll have a new generation doing the same shit. Why? Because of greed and power.

This guy is stupid. You can’t see that?

I agree that this is better than a 10-second clip, but sheesh, if you believe that this was a “deep dive” into macro economics and fiscal policy, you do not understand what those things mean.

I wish he would run. I wonder why he doesn'tmaybe to avoid all of the public scrutiny on every single aspect of your life.

and Handsome

Where did he spin it back around on him though? Summers is right: Apple is able to charge $1k for iPhones because consumers are willing and able to spend $1k on iPhones.

​@@mlh5434 He spun it back by reframing the argument after already "biting the hand that feeds him" Summers: "Do you feel Apple is gouging or doing something wrong?" Jon: "Yes!" Summers: (Continuing to push that angle knowing the dynamic at play here) "Let's talk about Apple. Do you think they should just sell phones for less and not have enough phones. What would you have Apple do" (Where Jon turns it around) Jon: You're saying that market forces are market forces (prices are set by supply and demand), but that workers shouldn't be allowed to use the same capitalistic forces of supply and demand for their own benefit. (Because the levers our institutions are going to use to tackle inflation will increase unemployment and undercut workers' ability to negotiate higher wages). Which he's arguing is wrong given that rising worker wages is not the main contributor to inflation. Timestamp 6:13

@@FlyingSpaceCow This may be due to Summers' equally flawed understanding of what causes inflation then. Inflation is caused by one and only one thing: an increase in the supply of money. The Fed monetized trillions of new government debt in 2020-2021. That is what will spike iPhone prices, corporate profits, and wages. The Fed is now trying to "cure inflation" by simply....not adding so much damn money to the economy like it did. It's basically like hiring an arsonist to put out the fire. A wage-price spiral is merely the RESULT of inflation, not the cause. Neither Jon nor Summers seems to understand this. I think Summers is probably closer to right, but he still has a long way to go. Both seem to be saying "I have a flu: 30% of it seems to be caused by this sore throat, another 25% is due to this runny nose, etc." and arguing whether the sore throat is worse than the runny nose. Those are SYMPTOMS. Focus on curing the disease of money-printing instead.

@@mlh5434 Except Jon completely understands what causes inflation. The point he was making is that the inflation of prices was far and above what it should be. A lot of that was made up of price hiking by corporations, which is true. Dude, people were struggling through the pandemic and somehow corporations became more wealthy than they've ever been. That's because they were absolutely price hiking. The reason Jon brought that up is because the Fed is only able to/allowed to attack inflation on the consumer side by causing unemployment and keeping people from borrowing money. There seems to be no answer on ensuring that corporations are limited in how much they can price hike.

@@THE_BEAR_JEW You're still talking about symptoms here. Corporations always will (and should) charge as much as possible for their products as people are willing and able to pay. Their job is to make a profit for their shareholders, not to engage in "altruism". Any company charging less than the market will bear for its products should fire their CEO or replace their board of directors. "the Fed is only able to/allowed to attack inflation on the consumer side by causing unemployment and keeping people from borrowing money" Restated: "the Fed is only able to/allowed to attack inflation by slowing down all the money printing they should have never engaged in in the first place". Inflation is an increase in the money supply and nothing more. Price increases are not inflation, they are the result of inflation.

To spread disinfo like ‘wage inflation’? lol there is only inflation, caused by gov printing money, which Jon defends. End of day, Jon supports inflation.

For real, the prick is literally telepathically saying “Remember where you come from boy. What you are. Don’t be like one of *Them* “

The guy grins every time he pretends to fake sympathy for those of us less fortunate... This guy is insane and the scary thing is these rich folks think we're the insane ones!!!

Inelastic demand.

Likewise, if Jon had wanted to keep his employer out of the hotseat here, he could have also told this vulture capitalist that Apple doesn't sell a single thing that anyone actually NEEDS - they sell luxury entertainment products, as opposed to the needlessly high-priced groceries and fuel that everyone does need.

yea, i'm really liking this... it's a legitimate discussion. you almost never see that in media anymore.

I'm sorry about what has become of your profession. I have friends who are economists and they are endlessly frustrated. I hope some day economists like you guys can bring the profession back into being a science rather than "financial homeopathy" as my one friend called it

I think he was looking to the left to see if a producer or someone would intervene after asking John about apple and that not working as he expected

Exactly! I have never worried about someone being legitimized until I saw this thumbnail. I am so glad Stewart actually stood up to Summers.

Jon is so out of his league, Larry treated him with kids' gloves and still managed to humiliate him deeply. Jon should really pick up an economics textbook before debating a distinguished economist. This was embarrassing to watch.

Well the interesting thing is that high growth / bullish economies are the times when wealth gap has risen the most dramatically and down markets / recessions erase some of the wealth gaps - it’s because stimulus increases asset values significantly higher than wages. So the issue is that in the good times, working class folks don’t get any of the benefit but passive investors / capital holders make a killing so it doesn’t matter when the inventible crash happens (which was caused by the stimulus) but working class folks didnt build the same nest egg. Every politician sells stimulus as necessary for working class folks to pass it, but make no mistake, it helps the rich.

@Chad Abercrombie I hope he passes a Blarney Stone. Which is my way of saying happy St Paddy's, my fellow serfs.

It hasn't leaked into our economic system it's always been there

He really thought there was going to be coorporate censorship on Jon. He was looking around to see if someone was gonna come running in and stop the interview. 😂

I heard, “you have a corporate overlord that is making a profit; dont you fear your corporate overlord?” “NO!”

Apple’s middle name is overpricing!

😂😂😂

john stewart for president

"we aren't the problem, it's the systems we live with" -the fed and corporations this ignores the fact that these systems are entirely man-made and not some law of the universe that just can't be controlled

@@craneteam87 Similar to "racism is just human nature, what could possibly be done ¯\_(ツ)_/¯ !". They way they retreat into human behavior reductionism is one of the most frustrating points that doesn't get attacked enough imo.

Summers is largely responsible for the systems that created this problem.

His argument is that Inflation is due to demand. Demand is high because people have more money. To stop inflation they want to reduce demand. To do that they want wages to drop. Yet know inflation is also driven by higher profit margins. Seems like an alternative path is to introduce more competition. Competition lowers margins. So, how do we do that?

At this stage, any meaningful competition to any already established competitor in any already established market will just be bought out. Or copied, outsold by way of being cheaper, or any number of ways to muscle out competition. Fair competition doesn't exist in our capitalism and is a dead myth. Just ask amazon and their "basics" line.

Now most of those properties are being rented by corporations.

Realtor didn't snatch anything but their commissions. REIT's like Blackrock bought these car's and are wholly responsible for the ridiculous rental rates right now. And when the dust settles front this current ' correction' the REITs will a quite even.MORE properties . Listen Stewart. ' Our profits have never been higher."

@@patrickdugan2929 Realtors knew the price and time of them being auctioned off on the courtyard steps. You had to provide certified funds at that time. Guess who showed up wirh cashier checks? The realtor representing the property. They in turn sold the homes or kept them for rental. This was 13 years ago, Blackrock type investors came in later.

That was the plan all along! What's the point of creating a depression without concentrating more wealth for the few?

@@lydias2012 Auctions are not secret and auctions on the court house steps are usually for taxes. Banks around here (San Diego) were sending these foreclosures to big liquidators and advertising the auctions like crazy. What I saw was a lot of foreign investors, mainly Chinese.

That endlessly smug, condescending smirk tells me he completely realizes it. He just enjoys watching the rest of us drown.

Yep these are the type of people in charge of Reserve

@@lip124 And he throws in the little - inflation is caused by (among other things) increased wages b.s. The working stiffs have been getting hosed for decades now while his ilk is raking in cash. But these clowns are never going to change the system because they'd lose their death grip on the economy. We're f----d as long as we let the oligarchs keep on doing what they do.

He has to know he's lying. The way he slows down his response so he can carefully choose his words, he knows Jon is right but the contempt these people have for workers is extreme.

It's like he thinks that he's saying something genius, while the rest of us look at him saying woah do you have no heart or empathy.

It was disgusting to watch his interaction in this interview. Summers was so nonchalantly manipulative, misdirecting, and espousing obvious logical fallacies, not to mention *contradicting himself* multiple times. Pathetic, pathological, and paving the path to hell.

It’s not amazing, it’s par for the course of how our society and economy works.

@Brett Raud I think the same thing every time I see him on camera. I don't think Jon asked any hard question though, only ones designed to enrage ignorant people. Even though Larry is an enormous cause of the issues he's sadly mostly correct on the solution to them.

Lock him up

true story !

Just because its not the amswer we might want to hear, that no was actually the truth.

@@today05 Ok, fed.

Thats why Jon net worth is estimated at $160 million. Jon can run these interviews on youtube for pennies, yet brings his show to Apple to pay him the highest salary he can get. The rumored crazy high iphone 15 prices has some of jon’s salary in there. You are a corporation jon like it or not. Are you gouging each of us? I prefer to think you weren’t? But aren’t you?

To be out of touch with the plight of the working class...is intentional...class warfare made possible now for decades now

Am afraid they ar less out of touch then you expect, they are just not serving the interest of the public or economy as a whole but are min-maxing capitalism for corporate profits

@@desktopdesign7196 : Conservatism and Capitalism are both inferior and ultimately broken systems at their core. Mixed together they are a deadly poison, and that's not hyperbole. Together they are literally destroying climate and habitat we depend on for humanities survival. The movement of capitalism is greed, and greed is an intrinsically destructive force. One that has caused this worlds 6th mass extinction event.

Friendly reminder that Summers is a democrat that worked for Obama, Clinton. Just in case any Blue MAGA types want to call him a Republican.

No, because the economy is a bathtub that would overflow if you put too much demand into it... If you wanted a bigger bathtub, you'd have to pay someone to do it for you - so why not just let the kids remain unbathed and save the money for yourself?

@@dayegilharno4988 it's actually the opposite, there's not enough water but instead of getting more water, it's easier to hoard it and let the kids remain unbathed. It's simpler and easier to allow wealth to accumulate through corruption, scams and gambling then god forbid come up with solutions to create the products and goods causing the inflation and perhaps pay the poor for doing so. The incentives are in the wrong place, the solution is for companies to be more valuable for doing less. This is crazy , goes against the free market and is more a form of socialism for companies.

Did Corporations tell the Treasury and Fed to be so (fiscally) accomodative during the Pandemic? Absolutely not. Blame where blame is due, at Congress and the actions of the Treasury and Fed. Those bozos, enacted by Congress, under the dangerous spell of "Group Think", spent many many times in excess of what say Switzerland or Germany did per capita (during 2020/2021). Go look that up, I did. And hence you have the issues you see today. Rampant, endemic inflation. Thank your collective Congress people for making everyone's life hard. Free money, is a disease we all just learned about. Now we know what Argentina feels like. Don't blame companies, they are not higher on the food chain than the people who are at the root of the problem which was not really touched on properly in this video. Sure will companies take advantage of a situation and soak in the money. Of course they will. The guy drinking all the free 40 oz beers , does he know how to harbor money. Of course not!

Spot on!! Exactly. Institute price controls to force them to increase capacity to maintain revenue. This will help address demand and reduce inflation. All without increasing interest rates.

He's trying to call Jon a hypocrite, but Jon's honesty disarmed that character attack

every one's skin crawled at that blatant attempt to shut JS up.

He's trying to point out tht he benefited from the system and is benefiting right now. So why complain about it

Jon is gouging his viewers subscription based viewers but nobody talks about tht

Exactly. "He's just a comedian, what could go wrong?"

Their flaw is thinking they’re smarter than him just because they are supposed to be.

He's also deeply principled. It makes it difficult for the interviewee to get around his questions unless they are also principled as well. Of course if that were the case it would be unlikely they'd be interviewed by Jon Stewart anyway.

Jon is not particularly bright. He doesn't realize that corporate profits, wages, demand all increasing are the RESULT of inflation instead of the cause. The cause of inflation is everywhere and always the same: an increase in the supply of dollars relative to goods. "Demand isn't the only cause of inflation! Corporate profits are too!" This is such a non-sensical statement. Those are both symptoms of the disease, not the cause of it. Apple isn't the problem. Exxon Mobile isn't the problem. The problem is money-printing and the Federal Reserve.

He is just parroting false liberal talking points

I love when they realize it and refuse to acknowledge it to the point of ludicrousness. It's like a toddler arguing with a parent

Larry ALWAYS blames the labor force for everything. It's never about corporate greed with him. To him: labor bad, corporate greed good.

@@juju-xx5xn Greedy little workers, wanting a livable wage... how dare they!

Couldn't agree more. These so called "experts" cook up a solution (action). Then the general population has to deal with the reaction. Their problem solving ultimately leads to pain, suffering, and desperation. Genius

Larry summers is nothing more than a cold winter

I have been saying for years that to defeat inflation we need to cut from the top not keep increasing the bottom. GLOBAL earnings cap!!!

It was on the behest of small businesses does the fed intervene

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What you describe is a global phenomenon.

Not only does it drive up the cost borne by the public, it's profit without product. They don't make real shit anymore, they make money off of making money, and falsely inflating the price of stock. Innovation stagnates, so they cut labor to drive up their share price, the existing products they still have go down in quality, but with limited competition due to corporate mergers, this new lower standard is passed off at a higher price to the consumer, because of "demand". And then they give themselves a pat on the back and a massive bonus after every fiscal year for being "the best business boys". Wash, rinse, repeat.

At 67 I would have to suggest this policy was already at work when reagan came on the scene. He just turbo charged it. 20+ interest rates.

If what you say is true, inflation wouldn’t have so suddenly shot up.

@@johnnywapstra9973 : Yea. Capitalism is a global problem that's greatly exacerbated by conservatism (and a large amount of regressivism lately). Capitalism, in particular conservative-capitalism, is a greed based system of wealth distribution. It immediately creates a class system by making The People reliant on the Capitalist. Thus the Capitalist naturally becomes an authoritarian, whether they wanted that or not. Some few will handle that position with some amount of wisdom and dignity, but most will become corrupted by the greedy nature of capitalism.

pretty sure it's the full interview

@@captaincrunch6500 No, it cuts out while the interview is going on, they want you to join their streaming service

You can get this as a podcast

@@captaincrunch6500 It's not. They're like 3 more minutes or so.

While I tend to agree, there's really not much more to be said in this piece. Jon gave him all the rope he needed to hang himself with. I'm glad they shared it. Jon Stewart, and John Oliver both publish the important stuff for free. The rest is honestly just fluff. I appreciate what they both do, and I'm fine with them getting well-paid for their services.

yeah... THey always do that "Hey, why don't YOU pay more in taxes" and a lot of these guys actually say YES I would be ok with paying more in taxes..

I saw Dave Matthews perform for a voting event last year. He said “please tax me more I have too much money”

Nah, it's fair to pick an example from the life of the discussion partner. It actually helps the discussion, because otherwise it's too easy to point fingers as in: "I don't have to do anything until they do something." The argument just didn't go the way Summers intended, because Jon has enough balls to criticize his own employer.

Summers: “You work for Apple, right? Check, bitch.” Key word “work”; Not “own”, not “CEO”, not “CFO”, not “chairman of the board.”

Summers is such a shameless cynic. Disgusting

I will say that you have to keep in mind that this is very edited, so it’s possible that they made him look worse then he really was. I’ll also say, goddamn this guy looked really bad here lmao

@@IAmTheRealHim Just stop. Larry has been at the beginning of every bad economic decision starting with ending Glass Steagall. I don't know why some of you are still buying into these lies. We just had this philosophy fail catastrophically, again, with another banking collapse.

It helps when your opponent has to defend the indefensible.

@@robertnicholls9917 wtf is your problem? I don’t know anything about this fuckin clown, doesn’t mean it couldn’t have been purposely edited to make him look worse. That’s all I said, didn’t support him or anything. Go for a walk or something dude…

the truth shall set you free

it's probably closer to 100%

I think I heard Bernie say 60%

No matter witch of you is correct, it's still a massive problem. Even 10% would be a real problem. I'm with Yeetyeet on this one though. Inflation is caused by corporations, big business, and the federal reserve all working together to keep slave labor, while they feed hate to the nations most gullible (bigots) so that we won't stand together and take down our mutual oppressors.

It's probably less but thts not even a problem lol which makes jon the bad one here

Best estimates indicate that over 40% of inflation is being driven by price gouging.

@@CoryPchajek, they should resist the impulse for short term gain, as it ultimately kills their golden egg.

As a white man I cringed when "Larry" pulled the Black/Hispanic card 😂😢

@@nuance9000 PAINFUL! Gotta love it when racists pretend like all black and brown people are a monolith that's on their side.

@@nuance9000 Yeah...I felt the same way, he was completely pandering and condescending at the same time.

that's the suggestion. truly beyond his comprehension.

It's not a dude, it's a leech Just because it can speak, doesn't make it huma

Well...this "genius" is the mind behind gutting Glass-Steagal Act and promoting the Commodities and Futures Modernization Act of 2000 that led to the...Financial Crisis of 2008. Larry has been part of the machinery that has caused so much pain and misery.

"When working class people have a chance to play the capitalist game, blue collar crushes them with the most aggressive hiking cycle in modern history." Exactly. GameStop, anyone?

Because he knows you will still buy the gouged out subscription lmfao

People who themselves don't have integrity are often surprised when other people do.

@@Aaron.Thomas Perfectly stated. I see the term "virtue signaling" constantly thrown around by the right as if virtue doesn't even exist, as if it can only be signaled disingenuously for personal gain. They simply cannot comprehend that some people have integrity and want to do good things for its own sake.

@@Fred_Lorz 💓💗❤ Correct Sir. Thank you for saying this "out loud". There are those of us who are born knowing right from wrong 💖 and who navigate this life by making our decisions and choices based on what is in the highest good for ALL, to the best that we can discern. (This is not necessarily "profitable" ($$$) in the least!) Appropriate priorities, "integrity and doing good things for its own sake", is it's own reward. 💛

I don’t even think Jon was angry. He’s that intellectually superior.

Hear, hear, non-college grad. I think you are spot on!

Price gouging contributes to wealth inequality

Absolutely. Affordability is a two part equation - part of it is the cost of the widget you want to buy, and the other part of the equation is how much income you have available to spend. That second part of of that equation - incomes - have been stagnant for ages.

@@craven5328 if you only include the middle and working class, wages have been dropping since the late 70s... Trickle up effect...

Maybe if you went to college and took an economics class you would understand that corporations contribute to 0% of inflation. It is literally impossible for corporations to cause inflation. Inflation comes from a printing press.

@Abitofsanity agreed, and governments are designed to serve the people, "off the people, by the people, for the people", but expecting them not serve big capital is silly

Capitalism is a naturally greedy system of wealth distribution. Even good and honest people are intrinsically corrupted by Capitalism. Conservatism and Capitalism combined have even created the worlds 6th mass extinction event.

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I agree. I didn't used to find him very skillful, and I'm increasingly seeing him act less like a host and more like a journalist.

apple isn't taking a hit and neither is Jon. Both parties will always command more when they can, and then those costs will flow down to the consumer every time.

Don't like capitalism but have an iphone?!? Curious.

Society is flawed, you say? Yet you *live* in society. Interesting.

it's largely based on William Phillips' terrible but influential economic theories from the 60's.... basically 5% or so of the working population needs to be unemployed to keep wages down, meanwhile the news can focus on that 5% and call them lazy, etc, creating resentment among working people while the rich rob them blind. it's a f'd up system and Larry openly admits he wants it that way.

The facts don't bear this out. The companies highest profit per employee comes from highly paid workers, not "slaves". As for percentages, 21% of American adults are upper income themselves, and 50% are middle income (Pew Research, 2021). The median income of the middle class earners is over $90k. If $90k equates to hand-to-mouth living, you're doing it wrong.

@@holycrapchris They do if we reward parasites like the “Trump Organization “ They launder money and don’t pay their taxes. There is a reason why regulations exist. We have to either make the investment in our infrastructure and the economy in general by paying your fair share in taxes and invest in a well developed and trained workforce. The fiat currency is based on intrinsic value of our currency in good faith. If not, we need to rein in the excesses of wealth by realistic taxation and good faith reinvestment in our institutions of a capitalist society. Infrastructure, education, manufacturing and jobs, allowing unions that have realistic expectations for their value to society. Then the elements are in place for a true economy based on the principles that the founders wanted our economy to evolve into. Socialism is not the answer. It is a fair tax code, good trade practices strongly regulated, investment in education and infrastructure. And regulations that prevent Trump- like parasitic corruption and other abuses of our tax code and investment in foreign companies that compete with ours in an increasingly corrupt manner. Trade cooperation can be an asset to our country and national well being and security. If organizations refuse to cooperate and participate, then they should bear a burden equal to the profits of corruption in violation of good faith practices in trade and investment practices. Since “ trickle down economics.” came to be, true capitalism has become a myth. Only water and shit run downhill. Money never has and never will. It was a poor experiment in economics with the assumption that everyone would pay their fair share of taxes and wages. I was the Top Manager in a manufacturing company and I never made $90,000 a year. So that paradigm is bullshit. To compete with slave labor, you are fucked the head if you believe that an American company can compete without some major government intervention. We should not need any government interference with business. But if that free market includes using slaves is your cup of tea then you should study history and see how that worked out when the people come to the realization that “All men (and women) are created equal… They are at cross purposes and will not work in a Capitalist Society that is also a Democratic Republic .

@@holycrapchris : I don't even need to dispute your numbers (though I already found discrepancies). The problem is you intentionally avoided the *shrinking middle class* and that *65% of Americans now live paycheck to paycheck,* and many of them have to work 2 - 3 jobs just to do that well. Only BS trickles down.. 1940-1980 Median wage growth rose 260%. 1981-2020 Median wage growth rose 5.4%.

​@@holycrapchris statistics, you're doing it wrong.