Michael Moore predicts a second crash, tells Glenn Beck to "back off"

Cenk:  All right, so the DVD is coming out for 'Capitalism' soon.  My question is-- you know I saw the movie--obviously, we agree on a lot of things, including the huge flaws in the system as it currently exists, but do you think that capitalism is fundamentally flawed, and we need to change it entirely?  If so, to what?

Michael:  Yes, I do believe it's fundamentally flawed, because I don't think that in the 21st century the big decisions that need to be made should be based on profit.  They should be based on what we need as a society and what the world needs.  And when I say that, I don't mean that I don't think people should be able to earn money or do well or work hard or have a great idea or whatever. That's not what I'm talking about.  

The kind of capitalism that we have now is a three-card Monte game.  And it's rigged--it's rigged against the working person, and I just think that until we decide that we have to get away from that and into a more democratic economy--in other words, economic decisions that are made by our elected representatives as opposed to Wall Street, the banks, the Fed, etc., etc.  

Cenk:  But how do we do it?  How do we do it?  How do we switch to that system?

Michael:  Well, no switch will occur until we remove money from politics.  We would have to start a movement where people will be running for Congress and for Senate and signing a pledge that states that they will not accept in their first run for election more than $25 or $50 from a person.  And after that, when they get in there, their number one priority is to remove funding of our elections from individuals who have the most money, and have it be federally funded like it is in most democracies.
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Michael:  (...)  There's going to be another crash.  The commercial real estate bubble hasn't burst yet.  That's going to burst.  The credit card debt is so huge right now, it will never be repaid.  That's a house of cards waiting to fall.  So the crash of '08 is going to look like coming attractions.  And we're in for a much, much worse time. That's how I honestly feel.  

Michael:  (...) You know, I tell you, these Democrats are disgusting.  Wimps and wusses and weasels.  You know, get some spine.  This is why I have to admire the Republicans.  They at least stand for something.  They at least have the courage of their convictions.  They get elected to office, they come into town, and they go "Get outta my way, there's a new sheriff in town.  This is the way we're doing things.  Get outta here."  And then they do it.  You know.  I mean what they do is crazy.  But dammit, they are good at it.  We should take a page out of their book.

Read the full transcript here.