Economic News Videos: The Greatest Wealth Transfer in History

Will Higher Oil Prices Sink the Economy?

Complete Premium video at: http://fora.tv/series/monitor_breakfast

White House economist Austan D. Goolsbe says the increase in oil prices caused by unrest in the Middle East won’t drive the U.S. economy off a cliff.

Tags: cost, demand, economics, economist, economy, Egypt, exports, fora tv, fora.tv, foratv, fuel, gas, imports, international markets, Libya, middle east, mideast, oil, price, protests, supply, tunisia

Obama Budget Chief Lew: Social Security Won’t Collapse

Complete video at: http://fora.tv/2011/02/17/Monitor_Breakfast_OMB_Director_Jacob_Lew

Speaking at a Monitor Breakfast about the federal budget, Office of Management and Budget Director Jacob Lew said that social security does not contribute to the deficit in the medium term and is in no imminent danger of collapsing. “There is no need to deal with social security and dealing with it would have, at best, negligible impact,” said Lew.

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Jacob “Jack” Lew was confirmed by the Senate on November 18, 2010, as the Director of the Office of Management and Budget, a position he previously held from 1998 to 2001.

Before returning to OMB, Lew was the first Deputy Secretary of State for Management and Resources, in which capacity he served as Chief Operating Officer of the department.

Tags: csm monitor, federal budget deficit, fora, fora.tv, foratv, jacob lew, obama, omb, social security, tv, White House

Thomas Sowell: Federal Reserve a ‘Cancer’

Economist Thomas Sowell explains why he supports Ron Paul’s stance on abolishing the Federal Reserve. When asked by Peter Robinson what should replace the Fed, Sowell replies: “When someone removes a cancer, what do you replace it with?”

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Thomas Sowell has studied and taught economics, intellectual history, and social policy at institutions that include Cornell University, UCLA, and Amherst College. Now a senior fellow at the Hoover Institution, Sowell has published more than a dozen books, the latest of which is a revised and updated edition of his classic volume, Basic Economics.

“Through its various editions,” Sowell writes, “the fundamental idea behind Basic Economics remains the same: Learning economics should be as uncomplicated as it is informative.”

Here, Sowell seeks to uncomplicate some of the economic issues confronting the country today, from the financial crisis and the role of the Fed to the economics of health care and trade imbalances. – Hoover Institution

Thomas Sowell is an American economist, political writer, and commentator. He is currently a senior fellow of the Hoover Institution at Stanford University. In 1990, he won the Francis Boyer Award, presented by the American Enterprise Institute. In 2002 he was awarded the National Humanities Medal for prolific scholarship melding history, economics, and political science.

Peter M. Robinson is a research fellow at the Hoover Institution, where he writes about business and politics, edits Hoover’s quarterly journal, the Hoover Digest, and hosts Hoover’s television program, Uncommon Knowledge.

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