1/8/2009 Peter Schiff On CNN Newsroom: Bull, Bear & Obama’s Plan
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Goddamned Schiff is so money.
americans dont need to be building ANY houses right now, or buying cars they cannot afford. the private sector should not be interfered with by government, printing money is a FALSE economy, and its getting worse!!! Obama the Disaster hasnt created any real jobs, the unemployment rate is still above 9.5%!!!, yet they spend trillions, figure that one out (?) NOT money well spent. Good luck, asian and indian economies will still truck ahead at 9-10% growth every year.
Production + Savings = power ….
This Professor should not be in the teaching profession…my God it’s pretty pathetic
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Secondly, the asian economies are not a wreck. They have both savings and production. Their only problem is that they have hoarded worthless dollars, and are about to realize the loss. However that is not a real cost. The cost occured when they gave stuff away for free (or for worthless dollars), once they stop doing that and starts consuming their stuff themselves, their standard of living will increase.
First off, the trade deficit can NOT go on for ever. You do not export for the sake of exporting. The reason you export is to get go import other stuff. Exporting withouth importing equals giving stuff away. Importing withouth exporting equals getting stuff for free. Over time imports must match exports.
To stop the trade deficit you must either import less or export more. If you want any stuff you better start making them.
Siegel is one of the professors training US business managers. Well I’d say that explains a lot!
Actually the main reason for the rising cost of food right now is because it’s all going to biofuels, which is a big scam. However Peter is right about inflation and I can’t imagine how bad it’s going to be when food prices increase due to biofuels with inflation piled on top of that.
“I don’t see inflation anywhere, Peter” “-Open your eyes”. LOL
Pedro wher you buying rice that cheap???? I want to buy from that store please.we pay $21 for 25bls….
the price of a 20 lb bag of rice has gone from $3.99 to $10.99 in the last couple of months.if thats not inflation i dont know what is. peter schiff is right again.
o Israel has killed Americans (eg. Sailors on USS Liberty, Rachel Carrie, etc…)
o Israel spies on this country.
o Israel blackmails our corrupt politicians.
o Israel steals our taxes.
o Israel uses our country as their toilet.
For more info, see visit my “Favorite” tab.
Please distribute this post and tell your Senator and/or Representative about Israel’s killing Americans, heinous crimes, stealing our taxes, and its spying on USA. Peace!
why doesnt Schiff run for pres?
12 Ways Schiff Was Wrong in 2008
Wrong about hyperinflation
Wrong about the dollar
Wrong about commodities except for gold
Wrong about foreign currencies except for the Yen
Wrong about foreign equities
Wrong in timing
Wrong in risk management
Wrong in buy and hold thesis
Wrong on decoupling
Wrong on China
Wrong on US treasuries
Wrong on interest rates, both foreign and domestic
Are you serious?! Wow! He is right the Dollar will collapse.
What I do not understand is if we are trillions in the hole. How will printing trillions and giving it to the same folks who lost it in the first place help us. Will building more houses help us the only thing we make is houses and cars. Will building 5 or 10 million more houses in the next 10 years lending more mortgage money solve our problems. The definition of insanity is doing the same thing over and over and expecting a different result. Are financial experts really from this planet?
The entire global system is being dismantled and it was flawed as soon as gold was unpegged from paper notes. Paper is paper. You can’t cut inflation or the cost of living with the deficits you have and by PRINTING MORE. It’s SO SIMPLE to understand. People work and get paid in paper. Not gold, not silver, not copper, not platinum. That is why credit cards are named the way they are. It is pure deception and we walked right into slavery…..willingly. Paper money is created out of nothing.
peter open your eyes
Actually something worth watching on CNN.
The Obama needs to listen to Peter Shiff instead of those Harvard or Princeton advisers hes got around him.
Why would they bring that idiot on to debate against Peter? There is no debate anymore! Peter was right, and he’s still right. We need a free market, small government economy!
im liking this peter shiff guy
I can see an obvious flaw in Schiff’s thinking.
America producing more an exporting more will only work if overseas markets exist for those products.
The rest of the world’s economy is in the same ruined state as the US economy.
They are not going to be buying anything.
If only 5% Americans had the ability to think like you, America would not be in this mess right now. But sadly, a vast majority of the population is completely brain dead. They won’t wake up until they wake up on the street.