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This is where I have to disagree with Peter. When he said the lump-sum should just be given up front, that was a ridiculous idea. People would be jumping from job to job, getting that lump sum between them. It would never work.
Angus452 should have saved up enough money to be able to weather this shitty era instead of claiming that people are ignorant and insinuating that they have some sort of evil intentions. I feel that Angus452 is probably not even really a person but rather an automated response or hired/deliberate commenter meant to cast doubt on Peter's extremely valid points.
@DylanGHart92648 I think you are wrong Dylan. There are a lot of people in Angus452's position. It's difficult to save with children. There are always needs. You are lucky to be in the position you are in (at least in for now).
I am now unemployed with children and a wife. I will have you know sir, that I am still on unemployment because THERE ARE NO JOBS!!!!!! You sir are a jerk who is talking out of his ass!!! Just because you milked the system when you where young does not mean that everyone does! Am I just supposed to roll over and loose my house? Loose everything my family owns? You sir, are ignorant and I hope that people see you for what you are.
OK, unemployment wise if we can not find work we should find work at say "McDonalds" right? However, people like you that work in the financial industry that totally screwed things up are subsidized millions, to billions of dollars to fix your errors. You are rewarded and the little guy well he is just little we deserve nothing.. We should work hard to maintain the hierarchy you desire.. We should work hard for Peter Schiff.. He wants to trade our labor and make a profit off of it.. :)
While I am sure that YOUNG, SINGLE people who live with parents will milk unemployment, I doubt that MATURE, MARRIED WITH CHILDREN, WITH MORTGAGES TO PAY people are sitting at home kicking back and enjoying leisure time. People with FAMILIES can't live off of unemployment benefits. To suggest such a thing is simply ignorant.
1600 for unemployemnt wow that is about what i make working 40hours/week
my job is hard and dangerous too. you are lucky, when I was laid off I didnt qualify for unemployment cuz my company "quest diagnostics" is a gheto company
The illegal aliens are a problem! My older brother used to work for a landscaping business, but he kept getting his pay reduced time and time again because the illegals would offer to work for next to nothing. Why do we need all these illegals when unemployment is over 15%. Pay workers a decent wage and people will gladly take those jobs! These businesses just want a cheap slave labor force. What will they do when the government gives them amnesty. These illegals will start demanding more pay!
He said that there are tendencies for unemployed to stay unemployed if they're paid to be. He even said that he once indulged in the weakness himself, but paying people to be unemployed at the cost of the economy is only going to create more unemployment.
That is a brilliant idea about lump sum unemployment. That should also apply to welfare. The system keeps people in poverty because as soon as you get a job you lose all of your benefits. Also, there is major risk in taking a job and losing your benefits because you could be fired the next day then you have nothing (no job, no benefits).
LEISURE???? A lot more "leisure"? Are you kidding me? I don't have time for "leisure' I'm too busy at the bank cashing out my 401k to make ends meet. I won't buy another Schiff book, you have lost touch with the middle class, in fact any class.
Wow, what a way to lose respect from loyal fans Peter. Do you honestly think that people choose to remain on the average UI payment of $1,600.00 per month when they've had jobs in six figures? Do you really equate not having to buy gas now that you're not working with the additional COBRA payment of close to $1,000 to retain medical coverage. By the way... gas is used for going to interviews as well... get a grip on the real American Peter, that was an arrogant insult.
I've met a lot of people on Unenjoyment. Most can't find a job. I'm unemployed from my $25 hr job that was eliminated. I've applied for over 30 Jobs in the past mo. & NO luck yet. I met an ex-marine windmill tech just got laid off from his $20+an hr job. Congress can give millions if not billions to Pork projects but Not help the underemployed & unemployed because it will add to the deficit. Give me a god dam break. Cut the pork & help out the people. It will all end in Bankruptcy
Why is schiff asking us to support Fast Money? All the idiots ever do on that show is criticize Schiff's viewpoints and basically laugh at him. I guess if I want to see you make a fool of that panel, then sure I'll watch. But I sure as hell would rather see you not go on that show Schiff.
Everyone eventually kisses the ring and drinks the cool-aid and after hearing these arrogant comments by Peter I'm afraid maybe he's gone over like Kucinich just did.
i would take any job buddy but there is none hiring i didnt gruduate and have a felony on my reckord who the hell going to hire me besides a moble home plant where i worked before and they closed down thats why im on unimployment and before u go talking about stoping unimployment u should think of how many homless people are out there or pretend ur someone else man fuk
@mason1789 That's an interesting idea, but the problem is that for some people you might reach a 'tipping point' where some people would wind up so heavily indebted that they might wind up never working again.
Initially unemployment benefits HELP the economy. Sure, they hurt us in the long run but most politicians are not interested in the long run - they gotta get re-elected SOON. :) This is one topic I disagree with you on. Unemployment Benefits are VITAL in keeping working families afloat during this unusually hard economic period. If you were unemployed and broke Peter, you'd appreciate UI a bit more? But since you disagree with unemployment benefits as a whole you would just decline, right?
@clearasvodka : I disagree with you. People need to take responsibility for themselves(they aren't required nowadays). you shouldn't live beyond your means, you should save enough for emergencies and retirement. By guaranteeing people that they will never suffer for their bad decisions, we teach them there are no consequences to making bad decisions. So they make more them. The responsible just get taxed and punished more.
It would be nice if every unemployment check had a red note attached to it with gold stars telling the recipient that they should thank China for the money and that they will have to pay it back with interest.
I like Peter Schiff but seriously, who wants to watch that "Fast Money" crap? An ESPN-format show where people just fire off their various "plays" in the market. It makes "Mad Money" look highbrow. Mr. Schiff, you'll catch fleas hanging out on that set.
It is certainly the case that early workers in factories suffered inhumane treatment, and worked in horrible conditions. Little regard was given to worker safety, or to giving workers even a fair amount of time off. Many immigrants of the 19th century became factory workers, and were, because of language barriers, less able to stop abuses.
The unemployed are VICTIMS of failed government regulation of the banks....they are responsible for this mess havent you been sayig that????? now you dont want to help the unemployed???? You will never get elected to anything.
The very first thing 'you' must do is deport the 20 Million Illegal Alien Foreign Nationals now 'displacing' U.S. Workers from identities and JOBS. Do not cry about unemployed Americans when 'you' have a 20-Million-Man Illegal Alien Labor Pool, so unscrupulous American contractors can pick around more-expensive Americans.
If we need to make cuts. Might I suggest welfare. Paying women to have babies is a long term disaster program. Women on welfare have 3 times the birth rate of women not on welfare.
Yes, and since both the number of rape cases and ice cream consumption increase during summer time, if we ban the consumption of ice cream then there will be no rapes.
Although welfare and the number of babies go hand in hand, taking away welfare will not lower the number of babies. It will only lower the living conditions of the poor even further and increase infant mortality rates. If u want those kids to enter the work-force then give them the tools to do so.
Yes bring on tier 5...the unemployed are the first people who should be bailed out ...after all they made that money in the first place...not the banks.
communist-socialist. On the other hand if you are for "socialist" bailouts for GM, banks and insurance companies, and are for less or zero taxes for them, that makes you a true patriot of the United States of America. Socialist pig is YOU, patriotic Americans is the corporations.
That´s apparently the new math they teach us at Jesus Camp.
Of course I can´t spell, dude. I´m multilingual. I´m surprised you haven´t attacked my grammar yet. Trust me, mate, if you spoke different languages every friggin day you´ll confuse the grammar rules and fuck up on spelling. Who fucking cares!!!
Fewer taxes is not going to undercut the Chinese advantage of having legalized slaves. India and Mexico both have charters that protect the people. That is the only reason why they have the competitive edge over countries that have laws and uphold the constitution. "Big government" is another catch phrase for corporations who are against having "boots on the ground" to ensure regulations are upheld to prevent another financial crises from destroying the country.
...I live in Canada and work for a bank. Our regulations ensured that the rogue employees do not undermine our countries soverignty. We have boots on the ground that ensured that none of our banks collapse. NONE HAVE. No taxpayer money went to our banks.
You want to paint a picture of nobility in all of whats going on and is about to happen but greed is neither nobel nor patriotic. It´s all about everybody for himself.
....you can´t pretend that 15% of Americans are unemployed. You can´t pretend that outsourcing will see a 25% unemployment stat by the year 2017. The transfer of soverignty is here and now the elite are going to remove the boots on the ground for an orderly transfer of soverignty. I hope you are practicing your manderine.
I live in Toronto and work for TD. You have no idea what you're talking about. Our regulations had nothing to do with why our banks didnt fail. Our banks were never in any kind of position where regulation would or would not prevent a collapse.
The collapse in the US was a collapse of an economic bubble, not only in the housing market but the entire economy as a whole. When the bubble collapsed, banks failed. Its simple.
In fact, if you wanna go further it was the lack of free market forces that caused the bubble.
The Fed artificially surpressed interest rates, causing extreme mal investment. (The boom) On top of that, government insured bank deposits caused banks to gamble even further.
When the bubble burst, and the markets plunged it exposed the horrific gambles made by the banks, so the banks werent the cause of the collapse, their failure was a mere symptom.
Their system is still unregulated. There will be failures to come. Free market forces? We are reaping the results of unfetered access of the markets. All jobs sent out ouf country. Bankruptcies followed. Nobody to loan to. Encouragment of liar loans. Canada like asian and the UK just flew in and picked the bones. Canada now has the top banks in north america. Not bad for such a tiny nation population wise.
There is no free market forces Rata. Don't confuse some "deregulation" with free market. Free markets involve risk. Deregulation to increase growth on the dole on the Central Bank, FDIC, and GSEs is not free market. Derivatives become a large problem because risk wasn't a concern, and failure minimized than what the free market would of allowed. As far as outsourcing, government is responsible with regulations, and government doesn't promote competitiveness freely.
When you finally figure out what the free market actually is, we'll talk ;)
The free market doesnt exist when strings are pulled. So you cant say the free market should have realized anything, because once the Fed had its hands on the market, at that exact moment the market ceased to be free.
I live in Vancouver and also work for a bank. The regulatory policies under PM Jean Chretien ensured a US style break down would not occur. The economic bubble you refer to was a direct consequence of an unregulated murky sector of their economy. It is so secretive that no outsider can fully comprehend it all....welcome to dirivitives which created the bubble. You don´t sound like you work for a bank simply because you lack any substance in what you are saying.
@Rata4You Chinese know how to create stuff. I can just go across the Mexico, and they have shoe shiners. In the USA, there is zero shoe shiners. Chinese will fix your shoes cheaper than buying another pair of shoes. In the USA, no such jobs exist. It's also because of big government why corporations go off shore. Innovation has left the USA, because USA is a consumer economy.
The Chinese are a slave nation who´s late leader Mao destroyed any chance at innovation. They build OUR stuff. They do not own the intellectual rights to the technology that we MAKE them build. I can´t even believing I´m telling you this stuff. You can´t have a creative mind in such a society. To cultivate 3 demensional thinkers you need freedom. It is why China is and always will be a 3rd world.
The economy was freed up because even tyrannts love money. The people have not been freed up. They have more freedom than before, but it´s a neccessary step in keeping the money flowing. There are no rights. There is no protection from torture. Organs continue to be taken from prisoners on virtual conveyer belts. The country crushes descenting opinion and strengthens itself on the backs of middle class America.
You are happy for the Chinese. How about the innovators of our country?
You say free market brings capital to areas of low wages and invest in it. I couldnt disagree with you more. Human exploitation, and human rights abuses are practiced in China - a communist state. Free markets do not award countries like India or Mexico the same consideration since they are democractic and hence have human rights and a consitution to respect. China is awarded because it lacks all of it. And is taking America one piece at a time along with its soverignty.
China is very clever in exploiting this notion and gradually it is undermining America´s influence on the global stage. It´s not undermining the elites or the corporations but ultimately those nations that are innovators will hit rock bottom as the masses of people who are purged from their jobs will demand government assistance lest we appear on international airways asking for food to feed our neighbours. The current model is transferring wealth and power to China. We are failing.
This guy´s favorite words are "I" & "me".....aren´t we special, Peter.
Big government....yeah, dude, complain about something original already will ya! Anyway, big governement small government. What difference does it make to the masses when all you wealthy dudes - PETER INCLUDED - always screw the people in the end. You´re simply asking to be voted in to screw us anyway. You have nothing new to add.
Unemployment benefits are the unemployed individual's own money when they were employed paying into the system. The gov't blackmails the individual on unemployment benefits to make decisions that may penalize the individual into further debt when the individual does begin to work again.
We have taken away the ability of many people to make a living through over-taxation, regulation, and deficits (stealing private capital investment through bonds).
Before we remove unemployment benefits and other entitlements, we should return the individual's ability to make money by fixing the cause of their unemployment first.
Suggesting from the outset that we want to end these benefits is what angers so many people in the general public. Bunning has done no favor to the liberty movement.
Hoppe: "Every risk that may be influenced by one's actions is therefore uninsurable; only what is not controllable through individual actions is insurable, and only if there are long-run frequency distributions. ... it also holds that if something that was initially not controllable becomes controllable then it would lose its insurability status."
It is obvious that unemployment is an uninsurable risk - we need to get rid of it altogether. How we incrementally undo it is the core issue..
Meant "veneer" ... Bottom line here is Peter is generally correct on this matter. I posted my question to him because he, knowing what he now knows, would NEVER sit on the beach until the benefits exhausted. As an avowed subscriber to Austrian Economics, he knows fully well the argument here.. for the rest of you please read this: mises . org / daily / 2021
Many of you are taking a shortsighted view of Schiff's unemployment benefits position. You are looking at the current moment's benefit to someone unemployed. Schiff is looking towards the long term damage to an economy from wasting productive capital, which would otherwise produce permanent jobs and economic growth, through taxation and transfer payments.
Peter, one question for you.. You said that when you were in your early 20's you collected unemployment benefits and hung on the beach until they were exhausted, only then finding the motivation to seek employment. Knowing what you know now, would you do the same thing? I know that is an odd question, but you suggest such behavior is "human nature," and I could not disagree more! Being a lazy bloodsucker off of others is not human nature - people are not lazy bums by birth - they learn it.
@bildanielson First off, people have to earn their unemployment benefits, they are not bloodsuckers. Second, it IS "human nature" to take the path of least resistance. That's why it is so hard for people to start an exercise routine or why most people wait till the end of tax season to do their taxes.
People have to learn overtime that if they want to have a higher standard of living they have to work harder/smarter to do so. Especially for young adults. It doesn't sink in without experience.
This is a complete avoidance of personal responsibility. Whatever happened to an "emergency fund" which requires saving?
In addition people think currency is wealth and therefore spending "stimulates" the ecomomy. An economy is a series of mutual exchanges, therefore we need something to exchange. Production is what stimulates an economy, not money! People sitting at home collecting unemployement does not stimulate an economy! It subsidizes non-production!
@mayt7 No avoidance at all ! Many people have exhausted their saving and many states withold taxes for this occasion. The same people seek a job every day EUC doesn't pay their way through life it helps aid them in being able to afford the essentials of life.
I am not sure what you want people to do, there is a limited supply of "real" jobs out there and until people figure out what to do they need to live.
You may want to study a bit more in economics before you make any further comments. This makes no sense. You act as if jobs are only created by some arbitrary entity (companies). I'm self employed, I found something the "market" needed/wanted and I found a way to make money with it (profit). A job is merely an exchange of labor for money. Jobs are created out of wants/needs from an economy. Unemployment "benefits" only try to address a symptom of the problem and the only make the problem worse.
@mayt7 Well said. Would you agree that the success of both corporations and government organizations is primarily determined by their culture? That's what I took away from the 8th Habit by Stephen Covey and The Future Arrived Yesterday: The Rise of the Protean Corporation by Michael Malone.
However, it does seem that "the invisible hand" of the free market does have and always will have a remarkable advantage over central planning.
@ RosenzweigBenjamin2: The success or death of any nation and all included depends upon the moral strength and virtue of it's citizens (therefore culture). However, morality and virtue should remain an individual choice.
The invisible hand is actually a hamiltonian concept that suggests that the government is the hand. I agree with you, however, the free market is far surprerior to meeting the needs of the people. In an excellent coincidence it is also the only system compatible with liberty.
Unemployment is one of the few topics I disagree with Peter, although many feel unemployment compensation is a handout very few understand loss incurred from losing a good job. Pension/401k contribution, usually a significant financial loss holiday and vacation pay not to mention being tossed into a already swarmed job seeking market that will only draw down wages. The fear of losing everything ! EUC buys time for those seeking better wages to maintain the living conditions of today.
OMG Peter, how can you talk about stuff like this? It sounds like you are following my life. It's almost creepy. Keep us posted, good luck in the Senate race, you got this!
Dude you are great, you gotta come to California and smoke a big joint with us. I can tell maaannnn you are sooo stoned! Great stuff bro, from all of us here.
@csabasand In Michigan its based on previous salary but I believe there is a cap. I know many ppl that got laid off at the same time as me and we are all getting over $1300 a month. Funny thing is we all moved back with our parents or family like Peter did! It rocks! We are the fortunate ones who can take our time looking for the dream job or a better job but Schiff is right. It dis-incentives job seeking. Ppl need to wake up and listen to him.
that's why everyone should invest into the bubble markets especially the stock market companies that are backed by the Government or the tarp fund, AIG, Fannie mae, Freddie Mac, Citibank, Bank of America, Wells Fargo, Chase. And the military companies Oskosh.
I've been on unemployment many times throughout my working years in factories; auto and food production. It's not the fault of the workers, the blame should be put where it belongs, on the Central Bankers (Federal Reserve) and their stooges in Washington. We are going into a hyperinflationary depression which will wipeout the middleclass. Pray and hang on folks.
Give me back the millions that the government took from my inheritance because my mother was too drunk to do appropriate estate planning. She left me the money....but only as a drunk knows how. It was entrusted to her by her parents and my father....but because of these inheritance taxes...they took 60 percent of the 'Farm' so to speak, one hundred years of family sweat and created a 5 year estate hell.
I will never forgive what was done to my family. Living through this forever changes you.
I love Schiff....but on this topic I disagree. If there are no jobs....no real jobs..should people starve, suffer and die from the stress? Off the books labor is increasingly disappearing because of liability issues.
People would find a way to make their living. That's the only way out of this. What you're suggesting is a downward spiral into a complete government controlled state.
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Capitalism can not function at full employment. There always has to be a reserve army of unemployed to prevent runaway inflation. That is why capitalism in a pure sense sucks. People need help. I want the millions back that my grandparents, parents and my sibling and myself earned over a hundred years. Who gets it....fucking Rockefeller at the Federal Reserve?
Easy Betty; David Rockfeller controls the Federal Reserve Bank of New York. He is the real President of the United States. Do some research. J.P. Morgan Chase owns most of the shares of the largest of the member banks; that of the Fed of New York. David Rockefeller and family have the controlling interest in Chase. Chase (Rockefellers) controls the Fed. of N.Y. , there are others. Even Senator Al D'Amato, proved that there was a hotline to the Whitehouse and D.Rock...years ago.
What are you talking about? Your telling something I already know. My question was how can you equate what Rockefeller and the federal reserve have done and what they have to do with (if you will) "true" capitalism.
You can not have people like the ruling class such as the Rockefellers controlling the money supply. Your Federal taxes go through the scheme of taxing you on the federal level, using the I.R.S. as a strong arm, funneling that money through the Treasury, then to the banks such as J.P. Morgan Chase. This scam makes David and friends wealthier by sending federal tax money into their banks. They own a large portion of the shares. Abolish the Fed, go back to a stable currency backed by gold.
@Betty5150 The Federal Reserve is just a Robber Baron tool! It has nothing to do with "pure" capitalism. Pure capitalism kills. You need some degree of government intervention.....but not the crap that is going on with all of these too big to fail or reposses programs. Banks are not selling their properties that the public should get a crack at. Bailout money from the responsible people is going to the people that live high on the hog.
The global financial powers that put so many politicians in office want more power and an openly world govt, and so the govt keeps digging us into a deeper hole because In order to force us into world govt, they have to make it hurt.
And then the IMF and World Bank can come in and pose as the savior and get people to accept global governance as a solution to the huge economic crisis. Hook. Line. Sinker.
Everyone seems to get unemployment benefits now. even if they are fired for poor performance. No One is responsible for themselves anymore! The government will take care of them.
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Sorry Pete not with you on this one at all. With all the waste and bail-out money you pick on the poor and there poultry unemployment benefit as if it's their fault the jobs market has collapsed and the countries ills?
Not a good line to be taking as a candidate I would think.
@eventuallythetruth Schiff is not picking on anyone. nor is he worried about picking sides, remember he is not a politicion. He is merely pointing out the facts of problems. not going to leave something out due to votes. hes advacating the root of all problems. not looking the other way for anything. Schiff spends most all of his time picking on the most rich more. he also points out how the poor people are only along for the ride and are not to blame for most prblms
Way to go Mr Schiff!! Throw your skeletons out in the street before the challengers dig them up. I like it!!! A dose of honesty makes you more accessible.
My problem with peter's suggestion on unemployment benefits is that would seem to result in people quitting their job, getting the benefits, and then getting rehired immediately.
People have been over taxed. It is one of the only ways of getting some of that money back. So what I am saying is they can take away unemployment when they lower taxes.
alot of people know about the bankers robbing us and dont see any option but violence in the future, what does it matter to try is the attitude of many like myself for a years ready to just be put in a mass grave, "y not just be lazy and ride the sinking ship down"
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Blaine700 1 month ago
This is where I have to disagree with Peter. When he said the lump-sum should just be given up front, that was a ridiculous idea. People would be jumping from job to job, getting that lump sum between them. It would never work.
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tiblon1 1 year ago
peter is right, balls to tell the truth. in china you don't work you don't eat. we got too many bums over here.
rogerchou1 1 year ago
I never see Peter on Fast Money Tuesdays and Thursdays
longtrader782 1 year ago
Angus452 should have saved up enough money to be able to weather this shitty era instead of claiming that people are ignorant and insinuating that they have some sort of evil intentions. I feel that Angus452 is probably not even really a person but rather an automated response or hired/deliberate commenter meant to cast doubt on Peter's extremely valid points.
DylanGHart92648 1 year ago
@DylanGHart92648 I think you are wrong Dylan. There are a lot of people in Angus452's position. It's difficult to save with children. There are always needs. You are lucky to be in the position you are in (at least in for now).
HatRatt 1 year ago
I am now unemployed with children and a wife. I will have you know sir, that I am still on unemployment because THERE ARE NO JOBS!!!!!! You sir are a jerk who is talking out of his ass!!! Just because you milked the system when you where young does not mean that everyone does! Am I just supposed to roll over and loose my house? Loose everything my family owns? You sir, are ignorant and I hope that people see you for what you are.
Angus452 1 year ago
OK, unemployment wise if we can not find work we should find work at say "McDonalds" right? However, people like you that work in the financial industry that totally screwed things up are subsidized millions, to billions of dollars to fix your errors. You are rewarded and the little guy well he is just little we deserve nothing.. We should work hard to maintain the hierarchy you desire.. We should work hard for Peter Schiff.. He wants to trade our labor and make a profit off of it.. :)
wobblebrain 1 year ago
While I am sure that YOUNG, SINGLE people who live with parents will milk unemployment, I doubt that MATURE, MARRIED WITH CHILDREN, WITH MORTGAGES TO PAY people are sitting at home kicking back and enjoying leisure time. People with FAMILIES can't live off of unemployment benefits. To suggest such a thing is simply ignorant.
iMisanthrope 1 year ago
1600 for unemployemnt wow that is about what i make working 40hours/week
my job is hard and dangerous too. you are lucky, when I was laid off I didnt qualify for unemployment cuz my company "quest diagnostics" is a gheto company
tony232cool 1 year ago
The illegal aliens are a problem! My older brother used to work for a landscaping business, but he kept getting his pay reduced time and time again because the illegals would offer to work for next to nothing. Why do we need all these illegals when unemployment is over 15%. Pay workers a decent wage and people will gladly take those jobs! These businesses just want a cheap slave labor force. What will they do when the government gives them amnesty. These illegals will start demanding more pay!
nt109 1 year ago
3 Easy steps to fix your mess:
a) No more WAR & Income Tax
b) Use ARMY for Farming & Aid
3) unplug your TVs and rize
pifou111 1 year ago
I am no longer a fan of your's mr.schiff. Thanks for the insults. It's all easy for you to say when your not unemployed.
TheSmashville27 1 year ago
You weren't listening to him were you?
He said that there are tendencies for unemployed to stay unemployed if they're paid to be. He even said that he once indulged in the weakness himself, but paying people to be unemployed at the cost of the economy is only going to create more unemployment.
Sam26100 1 year ago
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That is a brilliant idea about lump sum unemployment. That should also apply to welfare. The system keeps people in poverty because as soon as you get a job you lose all of your benefits. Also, there is major risk in taking a job and losing your benefits because you could be fired the next day then you have nothing (no job, no benefits).
ibuylow09 1 year ago
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ibuylow09 1 year ago
LEISURE???? A lot more "leisure"? Are you kidding me? I don't have time for "leisure' I'm too busy at the bank cashing out my 401k to make ends meet. I won't buy another Schiff book, you have lost touch with the middle class, in fact any class.
kimdaviscali 1 year ago
Wow, what a way to lose respect from loyal fans Peter. Do you honestly think that people choose to remain on the average UI payment of $1,600.00 per month when they've had jobs in six figures? Do you really equate not having to buy gas now that you're not working with the additional COBRA payment of close to $1,000 to retain medical coverage. By the way... gas is used for going to interviews as well... get a grip on the real American Peter, that was an arrogant insult.
kimdaviscali 1 year ago
Peter-my opinion. Fast Money has a bad connotation. You are not a fast money guy. Stay away from those bozos.
synthman2000 1 year ago
I've met a lot of people on Unenjoyment. Most can't find a job. I'm unemployed from my $25 hr job that was eliminated. I've applied for over 30 Jobs in the past mo. & NO luck yet. I met an ex-marine windmill tech just got laid off from his $20+an hr job. Congress can give millions if not billions to Pork projects but Not help the underemployed & unemployed because it will add to the deficit. Give me a god dam break. Cut the pork & help out the people. It will all end in Bankruptcy
coffeejunkie33 1 year ago
Wow that is so true. People will stay unemployed much longer because its free money...
sjls 1 year ago
Great video, I hope he wins
a4finger 1 year ago
what an arrogant devil!
Bgod74 1 year ago
Why is schiff asking us to support Fast Money? All the idiots ever do on that show is criticize Schiff's viewpoints and basically laugh at him. I guess if I want to see you make a fool of that panel, then sure I'll watch. But I sure as hell would rather see you not go on that show Schiff.
rolexx 1 year ago
Everyone eventually kisses the ring and drinks the cool-aid and after hearing these arrogant comments by Peter I'm afraid maybe he's gone over like Kucinich just did.
kimdaviscali 1 year ago
i would take any job buddy but there is none hiring i didnt gruduate and have a felony on my reckord who the hell going to hire me besides a moble home plant where i worked before and they closed down thats why im on unimployment and before u go talking about stoping unimployment u should think of how many homless people are out there or pretend ur someone else man fuk
heythisrocks 1 year ago
@heythisrocks
i'm in the SAME boat man.
nuttybollockz 1 year ago
unimployment sucks ass buddy sucks ass most depressed ive ever ben and lonely
heythisrocks 1 year ago
Instead of unemployment benefits, i would prefer interest free borrowing from the government.
mason1789 1 year ago
@mason1789 That's an interesting idea, but the problem is that for some people you might reach a 'tipping point' where some people would wind up so heavily indebted that they might wind up never working again.
RicoRichmond 1 year ago
Initially unemployment benefits HELP the economy. Sure, they hurt us in the long run but most politicians are not interested in the long run - they gotta get re-elected SOON. :) This is one topic I disagree with you on. Unemployment Benefits are VITAL in keeping working families afloat during this unusually hard economic period. If you were unemployed and broke Peter, you'd appreciate UI a bit more? But since you disagree with unemployment benefits as a whole you would just decline, right?
clearasvodka 1 year ago
@clearasvodka : I disagree with you. People need to take responsibility for themselves(they aren't required nowadays). you shouldn't live beyond your means, you should save enough for emergencies and retirement. By guaranteeing people that they will never suffer for their bad decisions, we teach them there are no consequences to making bad decisions. So they make more them. The responsible just get taxed and punished more.
rationalCrash 1 year ago 5
@rationalCrash clear as coffee
speed6ify 1 month ago
American Hero! Peter Schiff. Thanks man
PEEKOIL35 1 year ago
Peter check your messages on your phone. The light is blinking.
johnrobinsonalbert 1 year ago
It would be nice if every unemployment check had a red note attached to it with gold stars telling the recipient that they should thank China for the money and that they will have to pay it back with interest.
ohdaysoo 1 year ago
Please, pay people not to work. There are too many people seeking jobs as it is.
baigandine 1 year ago
LOL
Picknroll6 1 year ago
I like Peter Schiff but seriously, who wants to watch that "Fast Money" crap? An ESPN-format show where people just fire off their various "plays" in the market. It makes "Mad Money" look highbrow. Mr. Schiff, you'll catch fleas hanging out on that set.
PilsenB 1 year ago 2
It is certainly the case that early workers in factories suffered inhumane treatment, and worked in horrible conditions. Little regard was given to worker safety, or to giving workers even a fair amount of time off. Many immigrants of the 19th century became factory workers, and were, because of language barriers, less able to stop abuses.
marinello6 1 year ago
The unemployed are VICTIMS of failed government regulation of the banks....they are responsible for this mess havent you been sayig that????? now you dont want to help the unemployed???? You will never get elected to anything.
IWashMyOwnBrain 1 year ago
Schiff is out of touch with reality. The biggest employer of Illegal Alien Foreign Nationals in the USA today is the Federal Government ...
Terral03 1 year ago
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StevieSativa 1 year ago
The very first thing 'you' must do is deport the 20 Million Illegal Alien Foreign Nationals now 'displacing' U.S. Workers from identities and JOBS. Do not cry about unemployed Americans when 'you' have a 20-Million-Man Illegal Alien Labor Pool, so unscrupulous American contractors can pick around more-expensive Americans.
Terral03 1 year ago 2
and you raked the unemployment system and you think people who are unemployed does that?
And you're running for the Senate?
you're kidding?
talk about shooting yourself in the foot.
marniespeaks 1 year ago
we're not broke the Wall Street stole all our money
marniespeaks 1 year ago
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StevieSativa 1 year ago
If we need to make cuts. Might I suggest welfare. Paying women to have babies is a long term disaster program. Women on welfare have 3 times the birth rate of women not on welfare.
MrStomp333 1 year ago
abortion?
marniespeaks 1 year ago
Yes, and since both the number of rape cases and ice cream consumption increase during summer time, if we ban the consumption of ice cream then there will be no rapes.
Although welfare and the number of babies go hand in hand, taking away welfare will not lower the number of babies. It will only lower the living conditions of the poor even further and increase infant mortality rates. If u want those kids to enter the work-force then give them the tools to do so.
csabasand 1 year ago
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StevieSativa 1 year ago
Yes bring on tier 5...the unemployed are the first people who should be bailed out ...after all they made that money in the first place...not the banks.
IWashMyOwnBrain 1 year ago
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StevieSativa 1 year ago
schiff i will watch your show you can't count it on
grams2grammys 1 year ago
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yogasongbird 1 year ago
If you are for anything that favours the
citizens of this country it makes you a
communist-socialist. On the other hand if you are for "socialist" bailouts for GM, banks and insurance companies, and are for less or zero taxes for them, that makes you a true patriot of the United States of America. Socialist pig is YOU, patriotic Americans is the corporations.
That´s apparently the new math they teach us at Jesus Camp.
Rata4You 1 year ago
Schiff for President.
axishans 1 year ago
Of course I can´t spell, dude. I´m multilingual. I´m surprised you haven´t attacked my grammar yet. Trust me, mate, if you spoke different languages every friggin day you´ll confuse the grammar rules and fuck up on spelling. Who fucking cares!!!
Rata4You 1 year ago
Fewer taxes is not going to undercut the Chinese advantage of having legalized slaves. India and Mexico both have charters that protect the people. That is the only reason why they have the competitive edge over countries that have laws and uphold the constitution. "Big government" is another catch phrase for corporations who are against having "boots on the ground" to ensure regulations are upheld to prevent another financial crises from destroying the country.
Rata4You 1 year ago
...I live in Canada and work for a bank. Our regulations ensured that the rogue employees do not undermine our countries soverignty. We have boots on the ground that ensured that none of our banks collapse. NONE HAVE. No taxpayer money went to our banks.
You want to paint a picture of nobility in all of whats going on and is about to happen but greed is neither nobel nor patriotic. It´s all about everybody for himself.
Rata4You 1 year ago
....you can´t pretend that 15% of Americans are unemployed. You can´t pretend that outsourcing will see a 25% unemployment stat by the year 2017. The transfer of soverignty is here and now the elite are going to remove the boots on the ground for an orderly transfer of soverignty. I hope you are practicing your manderine.
Rata4You 1 year ago
I live in Toronto and work for TD. You have no idea what you're talking about. Our regulations had nothing to do with why our banks didnt fail. Our banks were never in any kind of position where regulation would or would not prevent a collapse.
The collapse in the US was a collapse of an economic bubble, not only in the housing market but the entire economy as a whole. When the bubble collapsed, banks failed. Its simple.
treysparker 1 year ago
In fact, if you wanna go further it was the lack of free market forces that caused the bubble.
The Fed artificially surpressed interest rates, causing extreme mal investment. (The boom) On top of that, government insured bank deposits caused banks to gamble even further.
When the bubble burst, and the markets plunged it exposed the horrific gambles made by the banks, so the banks werent the cause of the collapse, their failure was a mere symptom.
treysparker 1 year ago
Their system is still unregulated. There will be failures to come. Free market forces? We are reaping the results of unfetered access of the markets. All jobs sent out ouf country. Bankruptcies followed. Nobody to loan to. Encouragment of liar loans. Canada like asian and the UK just flew in and picked the bones. Canada now has the top banks in north america. Not bad for such a tiny nation population wise.
We are lean. Not bloated with bull shit.
Rata4You 1 year ago
There is no free market forces Rata. Don't confuse some "deregulation" with free market. Free markets involve risk. Deregulation to increase growth on the dole on the Central Bank, FDIC, and GSEs is not free market. Derivatives become a large problem because risk wasn't a concern, and failure minimized than what the free market would of allowed. As far as outsourcing, government is responsible with regulations, and government doesn't promote competitiveness freely.
SamuelMoralesJr 1 year ago
Blame mal-investors for malinvestment. If the free market is so smart, it should have realized its bad decisions.
baigandine 1 year ago
When you finally figure out what the free market actually is, we'll talk ;)
The free market doesnt exist when strings are pulled. So you cant say the free market should have realized anything, because once the Fed had its hands on the market, at that exact moment the market ceased to be free.
treysparker 1 year ago
I live in Vancouver and also work for a bank. The regulatory policies under PM Jean Chretien ensured a US style break down would not occur. The economic bubble you refer to was a direct consequence of an unregulated murky sector of their economy. It is so secretive that no outsider can fully comprehend it all....welcome to dirivitives which created the bubble. You don´t sound like you work for a bank simply because you lack any substance in what you are saying.
Rata4You 1 year ago
To be quite honest, the explanation is quite simple. Theres no need to go on.
Unfortunately, you're making it far too complicated for yourself.
"No outsider can fully comprehend it at all"
No, see it is easy to understand. Those who fail to comprehend are forced to come up with complicated answers because they have no choice.
If you understand Austrian Economics, the explanation of the collapse becomes unbelievably simple and obvious.
Thats why Schiff predicted it yrs in advance.
treysparker 1 year ago
Finally, Trey, a Canadian with a clue came out here to put that idiot-think Rata4You in his place. He is one misguided soul.
As a former Canuck, I have to apologize to the world for Rata's nonsensical economic thoughts, and he works for a bank no less!
I suspect his ideas are shared by many Canadians so it's fairly apparent then, that it would be incorrect for the most part.
You are completely correct Trey. The current regs had very little to do with why CAD banks escaped most of the carnage
mcdonaldscalling21 1 year ago
@Rata4You Chinese know how to create stuff. I can just go across the Mexico, and they have shoe shiners. In the USA, there is zero shoe shiners. Chinese will fix your shoes cheaper than buying another pair of shoes. In the USA, no such jobs exist. It's also because of big government why corporations go off shore. Innovation has left the USA, because USA is a consumer economy.
SamuelMoralesJr 1 year ago
The Chinese are a slave nation who´s late leader Mao destroyed any chance at innovation. They build OUR stuff. They do not own the intellectual rights to the technology that we MAKE them build. I can´t even believing I´m telling you this stuff. You can´t have a creative mind in such a society. To cultivate 3 demensional thinkers you need freedom. It is why China is and always will be a 3rd world.
Rata4You 1 year ago
The economy was freed up because even tyrannts love money. The people have not been freed up. They have more freedom than before, but it´s a neccessary step in keeping the money flowing. There are no rights. There is no protection from torture. Organs continue to be taken from prisoners on virtual conveyer belts. The country crushes descenting opinion and strengthens itself on the backs of middle class America.
You are happy for the Chinese. How about the innovators of our country?
Rata4You 1 year ago
watch v=pxFxKztSQe0&NR=1
2009mixmax 1 year ago
You say free market brings capital to areas of low wages and invest in it. I couldnt disagree with you more. Human exploitation, and human rights abuses are practiced in China - a communist state. Free markets do not award countries like India or Mexico the same consideration since they are democractic and hence have human rights and a consitution to respect. China is awarded because it lacks all of it. And is taking America one piece at a time along with its soverignty.
Rata4You 1 year ago
China is very clever in exploiting this notion and gradually it is undermining America´s influence on the global stage. It´s not undermining the elites or the corporations but ultimately those nations that are innovators will hit rock bottom as the masses of people who are purged from their jobs will demand government assistance lest we appear on international airways asking for food to feed our neighbours. The current model is transferring wealth and power to China. We are failing.
Rata4You 1 year ago
This guy´s favorite words are "I" & "me".....aren´t we special, Peter.
Big government....yeah, dude, complain about something original already will ya! Anyway, big governement small government. What difference does it make to the masses when all you wealthy dudes - PETER INCLUDED - always screw the people in the end. You´re simply asking to be voted in to screw us anyway. You have nothing new to add.
Rata4You 1 year ago
@Rata4You He's promoting himself...what is he supposed to say?
flahr1 1 year ago
Yes!!!! one lump sum. $360 per wk x 52 wks = $18,720
$18,720 x .20 tax = $3,744
unemployment net for yr = $14,976
$14,976 divided by 1 case of Busch Light ($10 per case) =
1,497 cases of Busch Light
365 x 4yrs = 1 case of Busch Light per day for 4 yrs = Peter Schiff for Senate
wordsofthegods 1 year ago 2
Unemployment benefits are the unemployed individual's own money when they were employed paying into the system. The gov't blackmails the individual on unemployment benefits to make decisions that may penalize the individual into further debt when the individual does begin to work again.
Very unfair...
jibbi4one 1 year ago
Regarding CNBC. Is there a webcast for those of us who don't have cable?
tsntana 1 year ago
We have taken away the ability of many people to make a living through over-taxation, regulation, and deficits (stealing private capital investment through bonds).
Before we remove unemployment benefits and other entitlements, we should return the individual's ability to make money by fixing the cause of their unemployment first.
Suggesting from the outset that we want to end these benefits is what angers so many people in the general public. Bunning has done no favor to the liberty movement.
AnotherUserNamedPaul 1 year ago
Why is everyone worried? We can just borrow what we need from China and print more money. (Yes, this is dry sarcasm)
foospecial 1 year ago 2
Our deficits don't matter anyway just ask congressman Pete Stark. lol
decepticonsofnwo 1 year ago
Congress to busy playing solitaire and checking out face book
decepticonsofnwo 1 year ago
I hate distractions like that to many of them in life, messes up a good train of thought
decepticonsofnwo 1 year ago
So true. But the bottom line is cutting taxes and getting the progressives out of government.
Truthpolice9698 1 year ago
Did you notice how slow Pete got right after the phone started ringing? LOL... he was almost down to a crawl...
haveabeer123 1 year ago
Some good tips in here. In this market you need to have a diverse search tool to find a job or career.
rustylightbulb(.)com worked for me. It's simple and efficient. Good luck
stafonski1 1 year ago
Hoppe: "Every risk that may be influenced by one's actions is therefore uninsurable; only what is not controllable through individual actions is insurable, and only if there are long-run frequency distributions. ... it also holds that if something that was initially not controllable becomes controllable then it would lose its insurability status."
It is obvious that unemployment is an uninsurable risk - we need to get rid of it altogether. How we incrementally undo it is the core issue..
bildanielson 1 year ago
Meant "veneer" ... Bottom line here is Peter is generally correct on this matter. I posted my question to him because he, knowing what he now knows, would NEVER sit on the beach until the benefits exhausted. As an avowed subscriber to Austrian Economics, he knows fully well the argument here.. for the rest of you please read this: mises . org / daily / 2021
bildanielson 1 year ago
Many of you are taking a shortsighted view of Schiff's unemployment benefits position. You are looking at the current moment's benefit to someone unemployed. Schiff is looking towards the long term damage to an economy from wasting productive capital, which would otherwise produce permanent jobs and economic growth, through taxation and transfer payments.
4KnowWon 1 year ago
Peter, one question for you.. You said that when you were in your early 20's you collected unemployment benefits and hung on the beach until they were exhausted, only then finding the motivation to seek employment. Knowing what you know now, would you do the same thing? I know that is an odd question, but you suggest such behavior is "human nature," and I could not disagree more! Being a lazy bloodsucker off of others is not human nature - people are not lazy bums by birth - they learn it.
bildanielson 1 year ago
@bildanielson First off, people have to earn their unemployment benefits, they are not bloodsuckers. Second, it IS "human nature" to take the path of least resistance. That's why it is so hard for people to start an exercise routine or why most people wait till the end of tax season to do their taxes.
People have to learn overtime that if they want to have a higher standard of living they have to work harder/smarter to do so. Especially for young adults. It doesn't sink in without experience.
Talodus 1 year ago
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bildanielson 1 year ago
This is a complete avoidance of personal responsibility. Whatever happened to an "emergency fund" which requires saving?
In addition people think currency is wealth and therefore spending "stimulates" the ecomomy. An economy is a series of mutual exchanges, therefore we need something to exchange. Production is what stimulates an economy, not money! People sitting at home collecting unemployement does not stimulate an economy! It subsidizes non-production!
mayt7 1 year ago
@mayt7 No avoidance at all ! Many people have exhausted their saving and many states withold taxes for this occasion. The same people seek a job every day EUC doesn't pay their way through life it helps aid them in being able to afford the essentials of life.
xxabsolutexxhavoc12 1 year ago
Where do you work?
keeptkntests 1 year ago
@keeptkntests, I'm self employed (internet marketing), but I worked in home building and development until a year and a half ago. Why do you ask?
mayt7 1 year ago
I am not sure what you want people to do, there is a limited supply of "real" jobs out there and until people figure out what to do they need to live.
keeptkntests 1 year ago
You may want to study a bit more in economics before you make any further comments. This makes no sense. You act as if jobs are only created by some arbitrary entity (companies). I'm self employed, I found something the "market" needed/wanted and I found a way to make money with it (profit). A job is merely an exchange of labor for money. Jobs are created out of wants/needs from an economy. Unemployment "benefits" only try to address a symptom of the problem and the only make the problem worse.
mayt7 1 year ago
@mayt7 Well said. Would you agree that the success of both corporations and government organizations is primarily determined by their culture? That's what I took away from the 8th Habit by Stephen Covey and The Future Arrived Yesterday: The Rise of the Protean Corporation by Michael Malone.
However, it does seem that "the invisible hand" of the free market does have and always will have a remarkable advantage over central planning.
RosenzweigBenjamin2 1 year ago
@ RosenzweigBenjamin2: The success or death of any nation and all included depends upon the moral strength and virtue of it's citizens (therefore culture). However, morality and virtue should remain an individual choice.
The invisible hand is actually a hamiltonian concept that suggests that the government is the hand. I agree with you, however, the free market is far surprerior to meeting the needs of the people. In an excellent coincidence it is also the only system compatible with liberty.
mayt7 1 year ago
Unemployment is one of the few topics I disagree with Peter, although many feel unemployment compensation is a handout very few understand loss incurred from losing a good job. Pension/401k contribution, usually a significant financial loss holiday and vacation pay not to mention being tossed into a already swarmed job seeking market that will only draw down wages. The fear of losing everything ! EUC buys time for those seeking better wages to maintain the living conditions of today.
xxabsolutexxhavoc12 1 year ago
Ratings will only change if people have registered to be involved in the ratings. Otherwise, the tv companies have no idea what you watch.
specialkornflake 1 year ago
so true my friend made more than me before he lost his job, but now he makes more than me still !!!!!!!!!!!!!!!!!!! on unemployment
bigrodneyakatrey 1 year ago
What you do is: record the show, forward to the part with Schiff on it, then delete after his segment is over. ^_^ ha ha
garoad2 1 year ago 2
i miss bush.how about you guy
hilololomoa 1 year ago
But Peter talks about the people who cheat the system as the majority.
MoTiOn718 1 year ago
OMG Peter, how can you talk about stuff like this? It sounds like you are following my life. It's almost creepy. Keep us posted, good luck in the Senate race, you got this!
cheezenug 1 year ago
Dude you are great, you gotta come to California and smoke a big joint with us. I can tell maaannnn you are sooo stoned! Great stuff bro, from all of us here.
GuidofromOtsego 1 year ago
Yes/Yes/Yes/True/True/True/ Move in with family and sleep on the couch,
QWERTY34990 1 year ago
Awesome!
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If you want free stuff check out my channel!
TeddyCantor 1 year ago
It's sad but the fact that networks like fox and cnbc are for the most part in agreement with peter is a bad sign.
The veil is coming off and reality is sinking in. Which means we are close to the breaking point in my opinion.
I say that because those networks only know how to lie. So when they tell the truth you have big problems.
kosai19 1 year ago
amen to that bro.
nurser11 1 year ago
And how much do you get per week/month? is it minimum wage or based on your prev. salary?
csabasand 1 year ago
@csabasand In Michigan its based on previous salary but I believe there is a cap. I know many ppl that got laid off at the same time as me and we are all getting over $1300 a month. Funny thing is we all moved back with our parents or family like Peter did! It rocks! We are the fortunate ones who can take our time looking for the dream job or a better job but Schiff is right. It dis-incentives job seeking. Ppl need to wake up and listen to him.
cheezenug 1 year ago
Ill tune in Mr Schiff but as soon as your interview is over i am CHANGING the channel
MIT2004 1 year ago 2
Can anyone explain to me: when central banks raise interest rates - why does that have to apply to existing loans?
Why can't it just apply to new ones?
Seems like an easy solution, but I've never studied Economics.
imre1000 1 year ago
that's why everyone should invest into the bubble markets especially the stock market companies that are backed by the Government or the tarp fund, AIG, Fannie mae, Freddie Mac, Citibank, Bank of America, Wells Fargo, Chase. And the military companies Oskosh.
idrobinhood 1 year ago
I've been on unemployment many times throughout my working years in factories; auto and food production. It's not the fault of the workers, the blame should be put where it belongs, on the Central Bankers (Federal Reserve) and their stooges in Washington. We are going into a hyperinflationary depression which will wipeout the middleclass. Pray and hang on folks.
ronheri 1 year ago
What did people do in the past when there was no such thing as unemployment?
bluewaterjimmy 1 year ago
dont blame the unemployed poor speach pete blame gov for trying to by the votes
pdelacruz1 1 year ago
Give me back the millions that the government took from my inheritance because my mother was too drunk to do appropriate estate planning. She left me the money....but only as a drunk knows how. It was entrusted to her by her parents and my father....but because of these inheritance taxes...they took 60 percent of the 'Farm' so to speak, one hundred years of family sweat and created a 5 year estate hell.
I will never forgive what was done to my family. Living through this forever changes you.
marinello6 1 year ago 4
I love Schiff....but on this topic I disagree. If there are no jobs....no real jobs..should people starve, suffer and die from the stress? Off the books labor is increasingly disappearing because of liability issues.
marinello6 1 year ago
People would find a way to make their living. That's the only way out of this. What you're suggesting is a downward spiral into a complete government controlled state.
howitzer24 1 year ago 6
This comment has received too many negative votes show
Capitalism can not function at full employment. There always has to be a reserve army of unemployed to prevent runaway inflation. That is why capitalism in a pure sense sucks. People need help. I want the millions back that my grandparents, parents and my sibling and myself earned over a hundred years. Who gets it....fucking Rockefeller at the Federal Reserve?
marinello6 1 year ago
That's why you have savings. The problem is big government.
howitzer24 1 year ago 6
In your dreams only does capitalism not function at full employment.
What does the Federal Reserve have to do with Capitalism? As far as I can see they are antithetical one to the other.
maskedphrogg 1 year ago
How can you equate Rockefeller at the federal Reserve with capitalism?
Betty5150 1 year ago
Easy Betty; David Rockfeller controls the Federal Reserve Bank of New York. He is the real President of the United States. Do some research. J.P. Morgan Chase owns most of the shares of the largest of the member banks; that of the Fed of New York. David Rockefeller and family have the controlling interest in Chase. Chase (Rockefellers) controls the Fed. of N.Y. , there are others. Even Senator Al D'Amato, proved that there was a hotline to the Whitehouse and D.Rock...years ago.
marinello6 1 year ago
What are you talking about? Your telling something I already know. My question was how can you equate what Rockefeller and the federal reserve have done and what they have to do with (if you will) "true" capitalism.
Betty5150 1 year ago
You can not have people like the ruling class such as the Rockefellers controlling the money supply. Your Federal taxes go through the scheme of taxing you on the federal level, using the I.R.S. as a strong arm, funneling that money through the Treasury, then to the banks such as J.P. Morgan Chase. This scam makes David and friends wealthier by sending federal tax money into their banks. They own a large portion of the shares. Abolish the Fed, go back to a stable currency backed by gold.
marinello6 1 year ago
@Betty5150
marinello6 1 year ago
@Betty5150 The Federal Reserve is just a Robber Baron tool! It has nothing to do with "pure" capitalism. Pure capitalism kills. You need some degree of government intervention.....but not the crap that is going on with all of these too big to fail or reposses programs. Banks are not selling their properties that the public should get a crack at. Bailout money from the responsible people is going to the people that live high on the hog.
marinello6 1 year ago
What are the minuses about....jealousy?
People can not be honest with themselves. I never realized this until I reached middle age.
marinello6 1 year ago
The global financial powers that put so many politicians in office want more power and an openly world govt, and so the govt keeps digging us into a deeper hole because In order to force us into world govt, they have to make it hurt.
infowars . com
PassTheLoot 1 year ago
And then the IMF and World Bank can come in and pose as the savior and get people to accept global governance as a solution to the huge economic crisis. Hook. Line. Sinker.
IcedEarth426 1 year ago
Hey Peter,
When does Euro Pacific open up in Canada?
2528997 1 year ago 2
Everyone seems to get unemployment benefits now. even if they are fired for poor performance. No One is responsible for themselves anymore! The government will take care of them.
obxguy1 1 year ago
This comment has received too many negative votes show
Sorry Pete not with you on this one at all. With all the waste and bail-out money you pick on the poor and there poultry unemployment benefit as if it's their fault the jobs market has collapsed and the countries ills?
Not a good line to be taking as a candidate I would think.
eventuallythetruth 1 year ago
@eventuallythetruth Schiff is not picking on anyone. nor is he worried about picking sides, remember he is not a politicion. He is merely pointing out the facts of problems. not going to leave something out due to votes. hes advacating the root of all problems. not looking the other way for anything. Schiff spends most all of his time picking on the most rich more. he also points out how the poor people are only along for the ride and are not to blame for most prblms
CustomRockets 1 year ago 4
Take a job and start working
State and Federal spendind is 43% of GDP
America has become a service based economy. The trend is towards less US manufacturing jobs.
Unemployment benefits allow for more leisure time. Why give all the benefit payments up front and prevent prolonged reliance on unemployment?
davepamn 1 year ago
Way to go Mr Schiff!! Throw your skeletons out in the street before the challengers dig them up. I like it!!! A dose of honesty makes you more accessible.
EdgeRetro 1 year ago
Hang on, Mr. Schiff
poviladzas 1 year ago
Go Schiff. A little honesty and integrity in Washington. Vote Schiff for senate
sallyos06460 1 year ago
I haven't got a TV - are you going to post the clips on your channel?
CountArtha 1 year ago
My problem with peter's suggestion on unemployment benefits is that would seem to result in people quitting their job, getting the benefits, and then getting rehired immediately.
LiberalofLiberty 1 year ago
People generally don't get unemployment benefits if they quit their job; one must be involuntarily terminated without cause.
anevilpettingzoo 1 year ago
@anevilpettingzoo I did no t know that, thanks.
LiberalofLiberty 1 year ago
how much do the unemployed get in the USA? i heard it's 50$ per month? is that correct?
also, the new youtube sucks and almost crashes my pc
stoneeh 1 year ago
I would've cracked up if he flipped out and threw his phone in the middle of the video.
DeltaLimaNiner 1 year ago 3
People have been over taxed. It is one of the only ways of getting some of that money back. So what I am saying is they can take away unemployment when they lower taxes.
uhateusaFU 1 year ago
alot of people know about the bankers robbing us and dont see any option but violence in the future, what does it matter to try is the attitude of many like myself for a years ready to just be put in a mass grave, "y not just be lazy and ride the sinking ship down"
jihadage 1 year ago
People trust the government !!!!!!! thats lazy !!!!! turning down work thats crazy !!!!!!!
acechoice45 1 year ago
The only thing better than Peter Schiff videos would be Peter Schiff in HD. XD
gilbertl2000 1 year ago 2
wait until a major fraction of the popultion collects benefits and can actually influence elections in a big way.
that's were big parts of europe are at.
myrelative 1 year ago
I think think he thought through the moral hazard of paying people to loose their job
myrelative 1 year ago