Peter Schiff vs Obama's Stimulus Plan 12/08/2008

[fastyz400]

Just watched, Peter was so right.

[Rekopaa]

this woman was smart and was being respectful and probably playing devil's advocate. don't know why so much hate toward her..



[TWSceptic]

@Rekopaa The hate is there because the media is always following blindly what Obama says! The media should be critical to government, not the other way around.

[tigerhop]

The car companies still owe the American taxpayer 14billion dollars. Union workers got off scot free while the rest of us get our money stolen by the government.

[tigerhop]

This woman thinks government forcing a car company to create green cars will solve the problem for the car companies. Problem is, only a very small percentage of their sales are for "energy efficient" vehicles. F150 is still the most popular car in the US. This woman doesn't understand how the free market fixes things better than government.

[tigerhop]

Peter teaches another ignoramus. This is how socialism grows- with ignoramuses in our media, education, and government sectors.

[tigerhop]

SOCIALISM is EVERYWHERE in this country. This woman is obviously economically ignorant and spoon fed by the government education system. she can only see what is in front of her, not what COULD happen if you LET the market function.I HATE THE MEDIA TOO!!!! Those statist ignoramuses!!!!!!!!!!!!!!!!!

[trueconservatie33]

@tigerhop im afraid the worse is to come, dollar will collapse and that will lead to a bond crisis, theres already inflation right now. There will be hyperinflation, massive layoff, and im afraid violence

[tigerhop]

@trueconservatie33 I am very concerned too. Keynsianism has proven once again that it doesn't work. My hope is that the Republicans will recognize the ball is in their court. If they don't do anything, then the government will be forced to balance it's check book. If the debt ceiling isn't raised, they can't spend any more money. So what, we don't pay our creditors off for a little while longer. Everyone already knows the US dollar is being propped up. I hope Obama doesn't veto debt limit.

[trueconservatie33]

@tigerhop yeah liberals failed to realize that unemployment never went below 10 percent under FDR's massive spending,and back then most of our debts are owed to our own citizens, but now its owed to China, Japan and Arab nations. We cant tax this problem, and we cant raise the interest rate, there will be hyperinflation like anything we havent seen before

[tigerhop]

@trueconservatie33 that's what I've been reading too. It seems only too obvious-massive inflation already because of stimulus and QE's, a stagnant economy, high taxes, a debt crisis, interest rates at near zero-they are going to have to raise rates soon. The bernanke admitted QE's failed. I read that the Fed might be purposely devaluing our currency so we don't actually repay the debt to China based on what it was worth when we borrowed it. We are exporting inflation.

[tigerhop]

SOCIALISM is EVERYWHERE in this country. This woman is obviously economically ignorant and spoon fed by the government education system. she can only see what is in front of her, not what COULD happen if you LET the market function.

[dalmatian847]

6.7% was the unemployment rate before the stimulus. They'd hold a ticker-tape parade is it dropped down to that level in a year from now!

[bellcord]

Peter Schiff an Ecomonist ?!?..he's a hack stockbroker and gold pusher who's been preaching gloom and doom every since they threw his dad in the slammer for tax fraud...

[Achilles9924]

@bellcord Exactly. I can't comprehend how all these pseudo-intellectuals listen to him and think he's actually making sense. Although running big huge deficits is not a good idea, the bailout was absolutely necessary. American car companies have no chance of competing with foreign cars, at least not for another decade or so. Conditions would've been far worse if it were not for the bailouts. However, the deficits and bailouts have distorted the direction to which the economy is headed.

[bellcord]

@Achilles9924 Shiff isn't taken seriously by anyone over the age of 12...mentally....and deficits can't go on forever but as I always point out the year I was born..1946...deficits were at 127% of GDP ..much higher than now...yet they were paid off well before I ever hit the workforce...and we'll do the same this time as well...

[Sonnedude]

Wow, the reporter had no idea what she was talking about

[bigdjangoboss]

dumb bitch

[getthepoooffmybum]

Senator Schiff sounds damn good to me

[mrantidajjal1]

Shes really wants to rape peter!

[MrConservativeTalk]

Rob Simmons 2010!

Service. Reform. Vision.

[Chslosers]

schiff 2010

[KernForCongress]

The sad part about all this is that the whole of it is impossible to explain to a hot ignorant anchorwoman (or anyone else) in the allotted amount of time. The root of the problem is the Fed's monopoly on credit. Try explaining that one to someone in under seven minutes.

[DarthConnis9999]

That lady is pretty attractive. The sound of her voice makes my ---- tingle.

[mlynch001]

6.7% un-employment a year ago! 10% today! We have BORROWED this money from China AND printed paper money by the billions! Schiff is a GENIUS and 100% right. Obama has faked his numbers on "Saved or created" jobs! Gore fakes his "GCC" numbers! Left Wing, know nothing "pseudo economists"!

[DarthConnis9999]

Unfortunately, Schiff will become just as diluted and corrupt as most (or maybe all) politicians if he's elected into the Senate. His ideas are great, though. He should try to expand his business, provide an economic shield for people who may fall victim to inefficient economic practices.

[rosewood223]

What is the reporter's name?

I wanna fuck her!!!

[rosewood223]

Is she Obama's whore?

[Sivels]

what the hell is the world economy? she means world economies?

[RIPPED7399]

its funny to watch these people over the last few years tell peter he's crazy and this MF'er has been spot on for the last 5,6,7 years and all these goobers are scratching their asses going hmm well i guess he was right

[iamacyborg]

The CNN lady actually did a great job. Too often the host makes personal attacks or gets flustered and hung up on one point but she did a good job of tossing out popular wisdom for Peter to address point by point.

[uche007us]

the lady is from CNN international which is a million times better than the reg CNN we get in the states.

anyway thats all i wanted to say, too bad most caple companies dont carry it anymore

[residentzombie]

Slaves had jobs too, it didn't mean they had a good quality of life. Chinese have jobs as well and are barely able to have enough money for food and other ammentities with little wealth left over to enjoy since their government takes it all and hoardes it.

[latewire]

Schiff is right again, the Dow is now lower than the number pictured in this interview.

[Weeth]

all i could think of was whack-a-mole while i was watching this video

[macdogq]

Stock market is just a fool's rally. It is all artificial. Seems as if cooperate media is buying into all of this falsity. You can have all the evil capitalists of the far right who loves to exploit cheap labor, or you can have socialist government of the left who wants coorporate state of the mussolini regime. Choice is yours.

[AWE319]

Peter Schiff has been right since the beginning of this mess.

[KingChuggs]

obama is the fuckin man......but this guy has a damn good point

[pretorious700]

Obama is clueless...look at who is advising him.

[KingChuggs]

it doesnt matter man, obama isnt the solution, one president may be supported by half the nation and hated by the other. This isnt gonna change and nothing ever will. The only thing we can do to save ourselves is say fuck money and think of something that is more reliable and helps everyone out. Ppl in the streets have a bad rep because they dont have the opportunity some of us have. And the reason for that is they were unfortunate in the way money was made in their family

[monetarydemise]

Why is obama the man?

[KingChuggs]

you wanna know why he is the man. Because if there is one person that can come out as one and be a completely different person its him. He has such unreal ability at speaking he can make ppl love him. He isnt the solution and no fucking president is lol. We need to stop relying on one dude to solve a problem that will never be resolved. Why dont we just get a society without money for six months and pay ppl in goods and services by the way they help out and make their area a better place.

[mzambo666]

If central government planning does not work - The system we have until now does? Are we here because of government? we are in mess from corruption and greed. I am not trying to upset anybody so please don't lose your marbles over my comment. Cheers!

[BeatnikJoe]

Good question. Yes, we are here because of government central planning. The Federal Reserve kept interest rates far below inflation for years. This punishes savings and causes savers to look desperately for yield. This created the colossal asset bubble that is now popping. This is central planning of just *one* factor by *experts*, yet they failed utterly. The ineffectiveness of central planning is why the Soviet Union, rich in natural resources and smart people, stayed so poor.

[mzambo666]

The soviet Union failed because of the military spending and the western block. In the 30s the Soviet Union was growing a lot until WWII. After that the bullshit of the cold war hurt them a lot. Today India, China (Communist) and Vietnam are doing well. Just think about it is not as bad as is made out to be. The Scandinavian countries have the best living standard and are not part of the bullshit we have here at all.

[bubbadankness]

And? How does that change the fact that there government caused, and pro-longed their problems? Also, you look at our war spending, plus the $1 trillion a year it takes to maintain upkeep and employees for all the bases we have in 140 other countries. I believe it's like over 700 foreign bases, now... In any case, when government has that much power, things like Vietnam, Iraq, Iran in 1953 happen... Only reason we are where we are, is we have let socialism/facism walk in and make home in USA...

[bubbadankness]

Also, it's like Peter said before... we don't want jobs just to have jobs, we want jobs that are productive to society... Everyone in the Soviet Union had a job, and everyone was broke, they had almost no middle class... Look around, where are we today? Where is the middle class going? Why aren't many of our jobs productive?

[pdex2165]

"Government jobs tend to be a lot less efficient." No truer words have ever been said.

[jorge1977arg]

What a clear message this man has delivered!! I feel sorry for the woman; she repeats all the nonsense that Obama and his socialist friends are preaching.

I hope that within ten years after the rise in the inflation rate and the failure of this stimulus package, America will recover once more sticking to the principles of a free economy.

[BaronVonTrout]

I hope so too jorge1977arg, luckily most of my savings is in silver bullion so hopefully I'll survive the period of inflation coming up. X3

[DrReaper]

Auto companies are connected at the higgest levels. They have done their part getting the country to this tipping point. Let them fail so real auto companies can fix the stuff these companies ignore.

[brian8793]

We should invest in BMW and Toyota, FUCK GM

[briansprdr]

dam regulations...

[cellspotbiz]

Wow shes just like a parrot of the Obama administration, CNN must be proud.

[FreedomDies09]

Is this woman for real? "We're bailing you out, but you had better..." She's talking like the government was the auto companies' mommy or something. o.O'

[dasimon123]

Schiff may be right that every dollar spent by the government is a diversion of a dollar that private enterprise could invest more efficiently. But there is a rather obvious flaw in is reasoning: in a steep recession such as the one we're in, there is no private investment to be had. Business aren't expanding because they think demand is dropping. So giving the private sector won't create or save any jobs. In such a situation, only government can (temporarily) create significant numbers of jobs

[FreedomDies09]

Schiff's not saying that keeping government out will save jobs. He's saying that if they are allowed to fail, there will be a period of significant unemployment, but that the economy will right itself quicker and come back stronger in that case. Considering that we tried your Keynesian approach in the 30's, and it made the Depression longer, I think I'd prefer to try Peter's way, please.

[erato99]

Since when was allowing a failing business to fail such a radical idea. This woman is a good example of the way many Americans have been taught to think in recent years: "Government intervention fixes problems" (Wrong)

[SetiDraconis]

And check it out this vid was posted Dec 10th look were we are out NOW in mid Feb and he was speaking how bad it was then.

[Conservativepacheat]

are we going to take this laying down?raise up

[rckt44]

Peter Schiff in 2010!

[JoeDebMV]

She is a Idiot and not a good reporter

[theblackBay]

on the female

[theblackBay]

nice eye makeup

[Garbonzo07]

WHO?

Ron Paul!

[dreadelite]

Why is this reporter trying to debate a certified economist? Do you your fucking job and report and let the man speak. Don't give your useless opinion... you're a fucking reporter, for crying out loud.

[theblackBay]

ease up there a bit dreadelite she is just undertaking a normal debate, otherwise we would sit around all day telling ourselves the same things.

[TogusaM207]

This lady is retarded there are still English cars; Rolls-Royce

[herbs814]

Once again, the Communist News Network is promoting government inefficiency and a crippling of the economy by burdensome taxing, spending, borrowing, inflation, and regulation. CNN's slavish devotion to Keynesian socialist economics is a demonstration of how the media is in the tank for big-government "liberalism" (actually socialism).

Govt "stimulus" robs the efficient market and issues politically guided foolishness. Money is frighteningly easy to spend when it isn't your money.

CUT TAXES

[BATCH420]

"But we gotta do something, right?" NO WE FUCKING DON'T!!!! FUCKING IDIOT MEDIA!!! I HATE YOU!!!

[OgallalaKnowhow]

"do you think that bureaucrats know what kind of cars the public wants to buy... these things have to be determined in the market."

This is pretty weak reasoning. The big 3 invested everything into making BIG cars for thirty years precisely because that is what they perceived the public to want - despite the gross inefficiencies, costs to road maintenance, and dependence on foreign oil.

If government had provided incentives for buying more efficient cars in the 70's, things would be different.

[jaar2001]

the market is better than a centralised bureaucratic authority.

Just because the market is made of millions of economic agents with their own respective needs and abilities, too many informations to treat for a state, and they know better than anybody where they have to affect their resources to create prosperity and wealth.

[jaar2001]

it doesn't mean the market is perfect, it makes mistakes because men are not perfect, but at least these mistakes are not enforced by the law (like Community Reinvestment Act for exemple)

[OgallalaKnowhow]

My argument is that economists like Peter Schiff work from an unrealistic separation between markets and states. When its more accurate to approach the problem as a network of actors seeking to push certain goals - through both public and private centralized bureaucracies, and the free market system itself.

If government actors had provided incentives in the auto sector back in the 70's - very different to nationalizing and then planning - then the Big 3 might have restructured earlier.

[jaar2001]

a posteriori it's easy to say the gvt should have done that.

but incentives are like planifications, why bureaucrats would know better than consumers and producers what should be produced?

[OgallalaKnowhow]

None the less, there were mechanisms available at the time. An earlier proactive intervention by gvt could might have allowed us to avoid current sloppy rescue plans rushed through in a crisis condition. My underlying argument is that a strict conceptual dichotomy between market - government is counterproductive.

You are right, gvt is just as much 'in the dark' as any private actor. But neo-classical economics is far more utopian in its claims to 'know what to produce' than my position.

[theblackBay]

it's true neo-classical economics is far more utopian in its claims to 'know what to produce' than your position, but what about that females killer eye makeup?

[mushmouth4life]

The only value government can produce in an open economy is defraying the cost of information so that financial institutions and products are more transparent.

[OgallalaKnowhow]

There is no such thing as an open economy, give me one example of such a thing actually occurring in reality. The utopia of a completely rational-efficient open market is just that, a dangerous 'imaginary world'. So why try to replicate it?

All financial relationships are inherently political processes, there is no abstract 'market force' that can be placed in opposition to state bureaucracy. Only networks of power that cut across public government and private actors.

[devilmirror1]

No, Peter's reasoning sounds fine to me. The big 3 failed because it could not compete with other companies. They are so arrogant in their car designs.

In the end, Toyota, Honda, and European cars take the cake. It's normal that The big 3 have to fail. These companies are running incompetent people.

When government bails them out, these stupid will continue working and do more harm to the economy.

[skearny1]

Actually, crippling legacy costs are the primary reason the Big 3 is failing. GM supports 800,000 retired workers and pays employee health care, adding a $1600 tax on each car, for instance.

[drmccaw30]

The Top 10 Best-Selling Cars of 2008: - Ford F-Series: 515,513 - Chevy Silverado: 465,065 - Toyota Camry: 436,617 - Honda Accord: 372,789 - Toyota Corolla: 351,007 - Honda Civic: 339,289 - Nissan Altima: 269,668 - Chevy Impala: 265,840 - Dodge Ram: 245,840  - Honda CR-V: 197,279

Toyota sold only 7% more total vehicles than GM yet the profit margin is close to 40% in difference. It has to be the design of these greedy US automakers, right. Not.

[1anotherview]

Do some research on the Schiff family! What a bunch of rotten tomatoes!

[DTOM84]

Is it any wonder that a country that consumes so many unhealthy foods, drinks so much alcohol, smokes so many cigarettes, pops so many pills, etc., etc., would also be so addicted to government intervention? Peter Schiff is an interventionist. I wish we were all ready for rehab...

[Ooftyman]

There's no point talking to idiots like this bimbo...

[kriegerjb]

anyone know where i can find a kitchen that needs staffing? and some masquing tape too?

[justgetsome]

Agreed.

[pronginator]

Gosh DANG IT ! this lady has NO concept...Peter says the same thing on every show..and ppl ALWAYS have a blank stare when they are asked 'Where the FVCK does this 'money come from!" It's SOOOOO simple...these ppl must not spank their kids or have never had a toothache and gone to the dentist...'no no- don't let something fail...it's gonna hurt!'

I'm so glad Im out of the American Dollar now

[dooglio]

This kind of appeals to the Broken Window fallacy where a young hoodlum throws a rock through a baker's window, forcing him to buy a new window and having it installed. This of course will stimulate the economy, giving work to a window installer and his vendors. The reason it is a fallacy is that the destruction of the window took money away from the baker that he might have spent elsewhere in the economy. Government thinks it can rob Peter to pay Paul and this is a good thing.

[pronginator]

What color was the hoodlum?

[MooseOfReason]

Magenta.

Any more questions?

[muchbusiness]

Foul Mouthed BoniusRx, genius extraordinaire, vents his bile. Instead of waiting around for your unemployment check and whining for your government handout do a youtube video where you enlighten us dullards about your profound economic theories. Peter Schiff seems able to articulate a sound course of action.

[OldBenFranklin]

Peter Schiff is 100% right, as usual. Ron Paul and Peter Schiff in 2012!

[Madmikee1]

look bonius, either you stop it with the insults or i stop responding ok? i've absolutely no interest discussing this lest you act civil.

sure you can care about the working man. if you want to keep him employed you buy the car he makes allright? but if noone wants to buy the damn cars you have no right to take my or any other persons money to keep him employed. the goal of an economy isn't jobs, it's productivity, but politicians just want votes and reduce productivity for jobs

[AzMoo]

There's no point producing if people don't have jobs and money to purchase it. It's not one or the other, it's both.

[Madmikee1]

my point was merely that if you sacrifice productivity for jobs, you're lowering the standard of living.

[Truthpolice9698]

Agree 100%.

Damn Peter you are good!

I disagreed with you most of last year but that was only because I thought McCain had a chance to go in the white House and veto every spending bill.

Now that McCain is gone along with any chance of salvaging anything you are dead on right.

[jortizz]

Is that the same McCain that was in favor of the Wall Street Bailout? The one who suspended his campaign to run to Washington and spend OUR money???

And you thought he was going to "veto every spending bill"? lol

That's the funniest thing I've read in a while.

Thanks for giving Peter a chance though. He's much smarter than McCain.

[Truthpolice9698]

Yea I guess I was hoping McCain would have a stroke and get stuck on saying no.

What else was I suppose to hope for?

These politicians are so corrupt and contemptible.

I guess the folks left will have to have a revolution.

I guess we are due.

[Truthpolice9698]

I have been watching Peter for years. He's been saying the same thing for years. He was wrong until about 2003 when Congress opened the floodgates to Freddie and Fannie. Then Greenspan opened the floodgates to the Federal Reserve.

If Bush would have acted like a Republican and Greenspan acted like a Federal Reserve Chairman this could have been avoided.

But between Bush, democrats, Fannie, Freddie and Greenspan all Peter's predictions have come true.

Now Obama is dropping the H bomb on us.

[jortizz]

Don't forget Republicans as well. I can't tell the difference between Democrats or Republicans. We should start calling all of them the Republicrats.

[AzMoo]

Yeah, he was wrong until the massive deregulation got a chance to take hold and then everything crashed because people exploited the lack of oversight. Then he stands up here and says we need even MORE deregulation. Sure, why not? Just let these incredibly huge companies blow away everybody's money. And what's the penalty? Jail for a CEO? What about all the investors who have lost everything? What do they get? Nothing. That'll help the economy.

[PocketJuicer420]

Ive never understood how so many people think that economic regulations and law enforcement are the same thing

[bonfirejovi]

@Truthpolice9698 what was he wrong about? greenspan offset the dot com bubble and then created the housing bubble. greenspan did act like a federal reserve chairman. what is the point of a federal reserve if not to borrow, lend and expand and contract the money supply.

[rmccay88]

@Truthpolice9698

Peter wasn't wrong for years, he had the foresight of what was coming. That is a big difference. And I do agree with all your other points.

[raderator]

The US auto companies have done a brilliant job considering they are forced by gov't to use $70/hr negro and female labor.

Quotas and unions must go.

[bbbqqq114]

Peter Schiff is a genius! This is the first time I actually heard him speak and his theories. The problem with the auto-industry is simple. GM, Ford, and Chrysler failed because they make crappy vehicles, and they have unions that DRAIN the money from the company. Don't get me wrong, the idea of unionizing is good, but it had been taken advantage of, and it needs to stop. Let them fail, file Bankruptcy and get rid of the unions and get new management! They will come back twice as strong.

[Lingerfoot]

Jesse Ventura and/or Ron Paul - 2012

[muchbusiness]

Boniusrx2 is a socialist. His whole argument is based on emotion and his sense of fairness. He believes the money taxed away from a single mother cashier needs to be given to an auto worker so they can keep their nice high paying job. He has no understanding of money, capital or credit. Thank God his ilk were not in power when the automobile industry started, he would have forced all of us to "bailout" the buggy whip industry because of all the jobs being lost to the auto industry.

[BoniusRx]

Wow another idiot to the rescue. Look jerk I understand more than your feeble mind can muster.

"He believes the money taxed away from a single mother cashier needs to be given to an auto worker so they can keep their nice high paying job."

I never said that or even eluded to it.  You have no clue what you're talking about but it sounds like the ditto crowd here. All 'capitalism' is infallible. And social concern is a bad thing so if you give a shit about a working man you're a socialist.

[Madmikee1]

those auto workers also chose to work there, and anyone being employed has to accept there's a risk of getting laid off. now that's a risk that person will have to take in order to get a job. saying it's unfair that the auto workers suffer is well, correct, it is unfair. but it's a risk they chose to take, you can't reallocate capital from other, more productively employed people because you feel sorry for the auto workers. how is that fair the productively employed? it isn't. it is theft.

[BoniusRx]

I like Schiff and I agree with him about alot of things but I just don't see how this benefits the merican auto industry as a whole. Further this is a LOAN and the auto-worker is 'productively employed' but his product is being hamstrung by greedy bean-counting money/market-manipulating shisters who hide behind capitalist rhetoric while they monopolize and destroy real competition. See 'what happened to the electric car'. Extremist views only cause principled people and ideas to be destroyed.

[Madmikee1]

boniusrx, would you like to make bankruptcies illegal? unemployment illegal? fact is if the companies fail it's because they haven't been good enough, and using productive peoples capital to make possible unproductive peoples lack of capital is far more corporatist than letting the companies fail. sure it sucks that some will lose their jobs, but if those jobs aren't productive enough they're just going to slow the economy down and really make this recession/depression worse.

[BoniusRx]

"using productive peoples capital to make possible unproductive peoples lack of capital is far more corporatist than letting the companies fail."

That's ignorant and has nothing to do with what I said.

[BoniusRx]

Now I know someone is gonna defend Schiff and say he is omniscient and never wrong but the fact remains that the auto worker did not cause this problem but will ultimately be the one who suffers should the company fail. That is HIS capitol, his work. So the company goes BK and gets bought by Schiff types who then higher the same worker back at half the pay so that they can profit off of HIS loss. How is that fair; because the investors have money? That's actually more like corporatism.

[hfrdrck3]

When you sign up to fight for the military, you take the risk of losing your life. When you are offered a job to work for a company, you take the risks associated with that job, including layoffs. There are no free sandwiches. Bad decisions, even if they are not the fault of the victim, are part of it. If the company goes through BK and rehires the worker in half pay in order to retain earnings, then it is only a sign that the market has decided such a job is worth that much.

[BoniusRx]

Free sandwiches??? WTF?

My statement was not about saving the risks to the worker not was it about de-victimizing him. The point was that its a LOAN to a company. Albeit from where ever. I'm sure you don't know this but a real loan for a business require an acceptable business plan. If the company wants the loan they come up with a viable acceptable plan. If the company gets bought by 'Gordon Gecko' it gets chopped up and sold out and the net result is the industry dies without a chance.

[BoniusRx]

Schiff made his money on the markets and really doesn't give a crap about working people. Auto manufacturers haven't built what was smart, they SOLD consumers on gas-guzzling hi-return SUV's with rediculous mud-hopping and snow-plowing BS commercials. When the 'true' market was for practical gas efficiency. But oil buddies buried it like they did the electric car. If money is LOANED to BigThree it should be with condition of meeting and SELLING that need. It would naturally increase exports.

[HotBabeDesktops]

Peter Schiff So Stupid, BUSH follow the Schiff theorie and what is the results.

[jetrpg22]

You hear what she said "in the short term" if you safe jobs for the short term that is all you get short term improvement.

This entire problem was created by government overspending. Government force banking and housing to give bad loans, it crashes and the government acted like it was the banks faults. How dumb can Americans be?

Listen you can not beat free market for economic growth, you still need a government around to make sure the people are not getting a totally raw deal.

[akai1sora]

Get a clue. Bush never followed any of the Austrian economic theory. He has followed the standard Keynes's theory which Obama will dive into. Bush is not a Capitalist.

[CDNSniperJTF2]

Schiff absolutely right as usual.

[ch231020]

I like this video because she took Peter on in a straight debate the whole interview and was slaughtered. These people arguing with Schiff should be in a school desk taking notes and should raise their hands when they want to speak. He rebutted every point she tried to make and showed the fallacy in each point with precision. He is amazingly smart and thank god we have someone who can speak this well about economics.

[larjerr]

Good questions and good answers...plus that woman was better looking than most interviewers....I give it 5 stars...thanks for posting the vid.

[larjerr]

She seemed pretty smart....I think she got it.

[danspeaks]

This guy is so patient... I would have told her to sit down and shut up because she doesn't know.

"...i'm bailing you out but you had better come out with a line of cars..."

Wow. What a moron... the consumers should dictate what cars are built through their purchases.

[ToTink]

Silly girl, the trickle down effect has never worked. We have a tanker at the top of a bunch of shot glasses.

[SweetSuzB]

Tell it like it is, Peter. Good for you.

[sweet80smovie]

"i dont understand" than shut your stupid commie mouth cunt, peter schiff is talkin. she needs to read a f'in book. shes supposed to know about economics and she doesn't know the bailouts are a form socialism. does this chick think or just talk. blah blah help the dumbs ass companys their to stupid to make a product people want, we wont give them our money so i guess the gov. should. they need more 440k dollar parties and private jets, and we need more geo metros and ford feista's. AGGGH!!!DIE!!

[streetapologist]

This just in...Peter Schiff appears on the CNN version of Clueless. These pro-socialist anchors are incredulous that anyone would propose a free market solution. Thanks Mr. Schiff for standing up for capitalism.

[YazDawg]

maybe she was just playing devil's advocate. i think they were good questions considering that is the mainstream thought at the moment.

[burnt2acrisp]

I think this is one of Schiff's best interviews for concise common sense answers, but yet only 950 views? Seems fishy to me when his other videos almost all have at least 10 times that number from this date!

[pimpinkin87]

its at 5341 as right now, jan 17 2009, so i think hes getting thru

[aaronallen1953]

wow... typical CNN. she got destroyed.

[ovar9k]

She's merely playing the devil's advocate. This is how journalism should be. By bringing up counterpoints, she stimulated a more intellectual discussion allowing Schiff to explain his ideas more clearly.

[insightpx]

She did a decent job considering most interviews, most journalists want to offer their "expert" opinion, which just happens to be the opinion of 90% of the sheep out there.

[ovar9k]

I agree. What many people don't seem to understand about these 24-hour news channels is the difference between news reports and talk shows. Many people will watch Bill O'Reilly or Sean Hannity and assume that since it's on the Fox "News" Channel, it must be news. This is why these idiots are so easy to manipulate.

[WarDogLRS]

As the economist Dr. Stuart Crane was fond of saying, Things in the monetary world dont just happen to happen. They happen because they were planned to happen.

Government is not reason; it is not eloquent; it is force. Like fire, it is a dangerous servant and a fearful master... George Washington

[unmarshal]

America's future as an economic superpower is in question. Too bad it will need to be destroyed before people understand that they are doing it _all wrong_

[discotrash78]

He must get tired beating his head against the wall over and over.

[happinessisnowhere]

Government jobs are a TAX. Not to be confused with real jobs that produce CAPITOL.