Art Laffer said he thought it was going to be bad for a one or two years, I think it's going to be bad for a lot longer than that. Good to see Peter getting the last word.
The one thing Peter doesn't seem to realize is that a hyperinflation situation for the US dollar would spell disaster for the rest of world as well as us. We have the defacto reserve currency and if it goes, much of the worlds wealth goes with it. What happens to 1/2 of China's savings if the dollar plummets? Saudi Arabia? Japan? Hong Kong? The list goes on and on. Many of these countries owe their very existence to us. They shouldn't forget about ww2. Where would China be? Under Jap mil rule.
God forbid they could have organised a resistance and won their own freedom after years of warfare. That would have been better for them as they would've had something to be proud of.
Not that it really matters now, but Japan was CRUSHING China, especially their civilians. Check out the rape on nanking as a start. The US also forgave debt levels far above (adjusted for inflation) what we owe the world, plus 10's of thousands of our citizens lives. We also provided nearly all of the energy for the allies. China is manipulating their currency to make us uncompetitive with them. If the Yuon was where it should be, we would be able to compete with them.
Events like Nanking only serve to infuriate people more. Hitler killed millions and was CRUSHING the Soviet Union but that did not stop resistances of all political systems springing up all over Europe. As long a people survive to some degree thay can frfree themselves.
Remember the words of Machiavelli:
"Men should be either treated with kindness or completely annihilated, for a man can avenge himself of a small injury but he cannot a great one."
Art Laffer said he thought it was going to be bad for a one or two years, I think it's going to be bad for a lot longer than that. Good to see Peter getting the last word.
titan13131 7 months ago
The one thing Peter doesn't seem to realize is that a hyperinflation situation for the US dollar would spell disaster for the rest of world as well as us. We have the defacto reserve currency and if it goes, much of the worlds wealth goes with it. What happens to 1/2 of China's savings if the dollar plummets? Saudi Arabia? Japan? Hong Kong? The list goes on and on. Many of these countries owe their very existence to us. They shouldn't forget about ww2. Where would China be? Under Jap mil rule.
christo930 3 years ago
God forbid they could have organised a resistance and won their own freedom after years of warfare. That would have been better for them as they would've had something to be proud of.
KraljevicPavle 3 years ago
Not that it really matters now, but Japan was CRUSHING China, especially their civilians. Check out the rape on nanking as a start. The US also forgave debt levels far above (adjusted for inflation) what we owe the world, plus 10's of thousands of our citizens lives. We also provided nearly all of the energy for the allies. China is manipulating their currency to make us uncompetitive with them. If the Yuon was where it should be, we would be able to compete with them.
christo930 3 years ago
Events like Nanking only serve to infuriate people more. Hitler killed millions and was CRUSHING the Soviet Union but that did not stop resistances of all political systems springing up all over Europe. As long a people survive to some degree thay can frfree themselves.
Remember the words of Machiavelli:
"Men should be either treated with kindness or completely annihilated, for a man can avenge himself of a small injury but he cannot a great one."
KraljevicPavle 3 years ago
JewishTwister = Jew
'Nuff said.
KraljevicPavle 3 years ago
Wow, the interviewer is nationalistic AND delusional!
LOL 'free country', 'faith in democracy' what nonsense dribble..
FreiheitKampfer 3 years ago 3
Quite surprised to see Art Laffer admit that Peter Schiff was right about anything!
Say Peter, did he ever give you that penny he owes you?
AScannerClearly 3 years ago 5
At least Art Laffer learnt his lesson and starts giving credit to Peter... so now we may have a little bit more respect for him lol
Dont think he will ever pay off that penny!
scienterprize 3 years ago 4