Schiff Report video blog Sept 7th 2010
dollar, bond bubble, stimulus, krugman
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Krugman is a Nobel prize winning nitwit.
HOLY SHIT!
Hard to argue with anything said in this video since late in it HE ACCURATELY predicts “Bipartisanship” in our government…..eg….the most recent tax bill….!
The problem with stimulus isn’t that it doesn’t bootst the economy, it can…
the problem is the benefits are cancelled out by opportunity cost. That results from only looking at the spillover benefit aspect of public works and not weighing it against the unintended opportunity cost. Furthermore stimulus is UNSUSTAINABLE. Schiff is right. We have to borrow or print and we can’t borrow anymore or print anymore.
Of cours history will not mention that is why we stopped the stimulus.
@tom6612 wtf?
How long is it going to take for people to understand something as simple as the broken window fallacy? This should really be common sense. Destroying things does not help anyone. Whether it’s burning crops, wasting steel on sunken ships, or breaking windows… it helps NO ONE. Only the Austrian School is in touch with reality. Schiff, you’re the man. Keep up the good work.
@kowalityjesus He’s wicked bad ass. Too bad you have to a liar to win an election.
Maybe Mike would be a little more courteous if Erin weren’t yelling “Mike! Mike! Mike!” every time he tries to make his point.
Thank you for the lucid commentary Mr. Schiff – the sane Americans have to be louder than the insane ones, if for no other reason than because we can’t have the rest of the world think we are all crazy. I know you aren’t necessarily picking on Paul Krugman, but has he ever responded to you directly? It would be really great television to see you guys discuss things.
Dead on correct video, thanks Peter
@tom6612 Really? High school kids knew that? I hope those High School kids are millionaires now from shorting the housing market? Your the one that makes no sense. Everything he says is common sense man, its everyone else who has been brainwashed and scared into believing government is the solution for everything. I believe the U.S.A. is great DESPITE the government not BECAUSE OF IT.
@tom6612 I raped your mother’s asshole and she shit you out 9 months later
What a nut job this guy is. You see his campaign commercials ?
A total off the wall nut.
He predicted the housing market would tank. BIG FUCKIN DEAL.
High school kids knew that was gonna happen.
All fellow Peter Schiff fans,
Go to the New York Times website and email Paul Krugman and tell him Peter Schiff has an open debate against him and that he wants to debate him anytime anywhere. Lets put pressure on this fraud and let him know he’s a modern day Keynes.
@kja5 well, look on the brightside: schiff started the race with something like 1 or 2 % name recognition. he finished with 49% recognition and got 23% of the vote. not too bad. for the 2012 senate race he should be in a good position.
Pete I agree with your idea on ww2, However when unemployment is so bad, a war which creates employment, removes excess labour from the unemployment pool and creates a small but increase level of consumer spending. I hope the government does not use the ww2 model to get out of this economic event.
Erin Burnett is a spoiled little cry baby brat. That’s why she’s 34 years old and has never been married. No man would want to put up with her cry baby ass
Pento was on the ball, but he was rude or at least impolite to be in such a hurry to shout down the host. Mr Pento would be more helpful if he got his message across — when he lets the conversation turn to an argument and shouting match, people stop listening. CNBC is a raucous side show with hysterical hosts — hopefully if Mr Pento takes the opportunity to be a guest on those shows again, he’ll have to prepare himself and not get drawn into the shouting.
@12Tamtui Spread the word about honest/constitutional money! Sooooo many people never question the Federal Reserve Note or rising prices that are the result of creating too many FRNs. The USA does not need the Federal Reserve System. The accumulated wisdom of mankind has determined that gold and silver coins are the best money!
@francislauerBR same here in Poland
@Voy2378 so what does he want, a war big enough to need a total takeover of the economy, with all factories dedicated to making tanks and bombs? i guess the fact that lots of young people would be dieing fighting such a war would bring down the unemployment level. it defies logic, but ofcourse i dont havea nobel prize.
btw. By any definition the defense budget is gigantic, in fact i believe it is bigger than the rest of the world combined.
I generally agree with Peter – but his analogy with the Soviet style printing is unfortunately not correct. The difference between the Soviets and US is that – US holds the worlds reserve currency – “the dollar”. So US can basically pay back its own borrowed money by printing even more and then even more and then even more dollars (“as Jim Rogers had once said -”until the cows come home”). In all fairness, the Soviets unfortunately did not have this advantage.
@RonaldReaganRocks1
I asked that about a month ago but he hasn’t yet (maybe he didn’t see my message) so you’ve not missed it.
I respect what you have to say Peter but I watched the interview with Erin Burnett and I’m sorry to say – I thought Mike Pento was irritating and quite rude in the interview.
I’m not surprised Erin Burnett had a go at him at the end. I’d have done the same.
The guy to the right of Mike Pento was a complete twat and I found him really obnoxious.
Peter-please address the fact that some economists are now warning of DE-flation. How can this go along with your theories of IN-flation?
Erin Burnett is a spoiled little cry baby brat. That’s why she’s 34 years old and has never been married. No man would want to put up with her bitchy ass