Greenspan: Govt. should destroy houses. Peter Schiff destroys Greenspan's idea

[MX3516]

Compare Greenspan's idea with what happened to US industry. In the city where I live we have many beautiful open lots where factories used to exist that employed thousands of people. Now there are no jobs, but lots of beautiful open space for all the unemployed and homeless to enjoy. It is so nice to have a vacant lot to hang out it when you get thrown out of your home, but tearing down the factories didn't bring in anything to replace them.

[runinamok93]

This guy ran the Fed and he doesn't know the broken window fallacy??!? Destroy perfectly good houses? I feel like people shouldn't have to point out the stupidity in this logic

[petmensan]

Good idea Greenspan, it worked so well during the great depression, why not try it with the housing market. This is Hitler Cain's answer for who he wants to run the fed? Greenspan is a traitor to the country and should be tried as such. Napolitano would be the perfect judge for such a trial I think.

[ubernerd35]

Schiff is wrong often, but this is spot. fucking. on.

[christo930]

I noticed that not one time did Schiff bring up the homeless people that could be occupying all of these empty houses.

[vincentca2004]

First the government encourages buying houses, now destroy them :O. Between Bernanke saying we need an alien invasion, to Greenspan saying government should destroy houses. THIS IS INSANE!!!!!

[vincentca2004]

@vincentca2004 I meant Krugman, not Bernanke even though they are both alike anyway :)

[runarolsen]

@Greenspan! - No wonder we are in such a mess after his reign! What a bumbling idiot

[mit26chell]

wow ... just like the U.S. Government plowing under crops during the Great Depression when millions were starving?

This is no different. There are MILLIONS of poor people who need shelter, and this buffoon is proposing we burn down potential shelter for them?

Jesus. And Herman Cain just endorsed Greenspan in the GOP debate two nights ago - wake up Cain supporters! Go for the REAL deal - Ron Paul!

[krillin876]

DON'T LAUGH,, the government has already done this in the Automobile sector. One part of CASH FOR CLUNKERS is that dealers has to pour a liquid into the engine so it would destroy the engine. How stupid!!

[DavidsIllustrations]

how can this guy evade to such a degree

[acotytamwiesz]

Greenspan could possibly do more damage than Hitler and Stalin combined..

[Caballingus]

Peter Schiff deserves the Nobel Prize in economics PERIOD.

[krillin876]

@Caballingus The Nobel Prize has lost it's luster, Remember Paul Krugman has one

[Caballingus]

@krillin876 I know... and Obama has one for "peace"... what I meant was that good old fashioned, honest Nobel Prize that used to be awarded to oustandig individuals contributing to the welfare of mankind. these days the prize has become yet another corporate-bankster-sy$tem scam.

[Caballingus]

Greenspan should be put in a straightjacket. What this madman is saying is just unbelievable. How about this: In order to save the world: simply buy it and burn it! Isn't that what the world banksters are doing right now?

[krillin876]

@Caballingus IS HE ON DRUGS!!! Greenspan is crazy!!

[JohnRinNoHo]

Greenspan knows better, or at least he used to know better.

Perhaps he has spent too much time in Washington.

[438doug]

Incite of how the jew mind is evil and twisted, zionist worship death and destruction there god is profit...

[xMaXiMuSx]

@438doug

Peter is jewish too, you racist cunt!

[438doug]

@xMaXiMuSx ypur mom is the only cunt i know

[MrCheckitout123]

no respect, 100% accurate. Greenspan's vision is so clear, now? what about when the crisis train was coming down the tracks with the horn blarring and 1million candale powerhead light on. this guy should be cuffs not just for this but LTCM as well.

[Yogakayakmayak]

Distroying new houses because it is more economical shows thet it's the systhem that is distroyed and perverted.

[romanmir01]

Just shows you the NONSENSE that the government has turned into - unelected BS power brokers are put into positions where they can do REAL damage by your so called 'elected' officials.

Where are the White House protests?

There should be protests at Alan Greenspan's house too! He should be KICKED OUT OF HIS HOUSE.

[BullionLimitedotcom]

Schiff is the best

[BullionLimitedotcom]

This guy is the biggest jerk in power

[suiseismologic]

Thumbs up if you knew that was Gorillaz playing on the outro.

[acotytamwiesz]

@suiseismologic thmubs up in your mothers ass bitch

[mokum777]

lets start by burning greenspan's house. Then, guillotine time.

[kjp68]

Fair play to Schiff he tells it like it is, The showes that Green span  goes on are part of the problem.

[pdxeddie1111]

so basically he doesn't believe in letting prices becoming more affordable? I used to think Greenspan was smart but now I think he's senile.

[c00per69]

Destory houses why not destroy the mortgages of any homes owners who happen to be left. At least said home owners will have spare cash to pump into the economy. Bailing out banks was a stupid idea let them fail along with my mortgage they hold, so I am free. O wait they no longer hold my mortgage, a mutual fund in Nirobi does.

[outforsushi]

schiff also provided a great argument against the "saving paradox" on the same day

[edog5005]

Government is totally inept.

[MoonPeeps0304]

@edog5005 Inept? No, this goes beyond inept. This is an agenda.

[outforsushi]

I guess Greenspan don't understand the Broken Window Fallacy

[ThisIsRogueLiberty]

They are destroyers(.)