Hard to argue with anything said in this video since late in it HE ACCURATELY predicts "Bipartisanship" in our government.....eg....the most recent tax bill....!
The problem with stimulus isn't that it doesn't bootst the economy, it can...
the problem is the benefits are cancelled out by opportunity cost. That results from only looking at the spillover benefit aspect of public works and not weighing it against the unintended opportunity cost. Furthermore stimulus is UNSUSTAINABLE. Schiff is right. We have to borrow or print and we can't borrow anymore or print anymore.
Of cours history will not mention that is why we stopped the stimulus.
How long is it going to take for people to understand something as simple as the broken window fallacy? This should really be common sense. Destroying things does not help anyone. Whether it's burning crops, wasting steel on sunken ships, or breaking windows... it helps NO ONE. Only the Austrian School is in touch with reality. Schiff, you're the man. Keep up the good work.
Thank you for the lucid commentary Mr. Schiff - the sane Americans have to be louder than the insane ones, if for no other reason than because we can't have the rest of the world think we are all crazy. I know you aren't necessarily picking on Paul Krugman, but has he ever responded to you directly? It would be really great television to see you guys discuss things.
@tom6612 Really? High school kids knew that? I hope those High School kids are millionaires now from shorting the housing market? Your the one that makes no sense. Everything he says is common sense man, its everyone else who has been brainwashed and scared into believing government is the solution for everything. I believe the U.S.A. is great DESPITE the government not BECAUSE OF IT.
Go to the New York Times website and email Paul Krugman and tell him Peter Schiff has an open debate against him and that he wants to debate him anytime anywhere. Lets put pressure on this fraud and let him know he's a modern day Keynes.
Pete I agree with your idea on ww2, However when unemployment is so bad, a war which creates employment, removes excess labour from the unemployment pool and creates a small but increase level of consumer spending. I hope the government does not use the ww2 model to get out of this economic event.
Erin Burnett is a spoiled little cry baby brat. That's why she's 34 years old and has never been married. No man would want to put up with her cry baby ass
Pento was on the ball, but he was rude or at least impolite to be in such a hurry to shout down the host. Mr Pento would be more helpful if he got his message across -- when he lets the conversation turn to an argument and shouting match, people stop listening. CNBC is a raucous side show with hysterical hosts -- hopefully if Mr Pento takes the opportunity to be a guest on those shows again, he'll have to prepare himself and not get drawn into the shouting.
I respect what you have to say Peter but I watched the interview with Erin Burnett and I'm sorry to say - I thought Mike Pento was irritating and quite rude in the interview.
I'm not surprised Erin Burnett had a go at him at the end. I'd have done the same.
The guy to the right of Mike Pento was a complete twat and I found him really obnoxious.
Erin Burnett is a spoiled little cry baby brat. That's why she's 34 years old and has never been married. No man would want to put up with her bitchy ass
It seems to me that Krugman the Crook suggest a new world war in between the lines. These academics on the international banking cabal's payroll are not stupid, they know what is going on - they simply obey their masters and whore for money.
The stimilus of the financial marked however, with bank bailouts etc., while helping out homeowners short term, will ultimately be very bad for the US economy. Just postponing the inevitable... :( The best would have been to regulate the lending and by raising the interest rates in the first place. I am sure more people then youd expect saw this coming but just kept quiet because they profited personally of it.
Wow and this guy talks all day long about gold and silver and not about GNH-Gross National Happiness..this usually has nothing to do with GNP. Schiff if you want to be a leader you need to focus on the human condition.You sound like an armchair day trader and profiteer which is what you are ,rather than a person concerned with the the overall human condition. Get altruistic and volunteer at your local food-bank.
I pointed out in the video where Burnett and Pento exactly what Peter just said, about how the guy who was saying there is no Bond bubble simply because people are "buying bonds." Just the most moronic analysis someone could come to a conclusion economically related I've ever heard.
btw, no, New zealand won't benefit from rebuilding something they already had, but the US would get something they lack of. If I where Obama I'd invest the stimulus in hydro/tidal energy and railroads (electric railroads that is).
Hi Peter! Thanks for giving your views on the infrastructure stimulus. Maybe you do read some of the comments? :) I agree that for such a stimulus to have any effect there needs to be a focus on the economy and not politics, such as jobs just for the sake of jobs. But goods alone might not be the only long term issue. On the brink of an energy crysis infrastructure can help, while at the same time making you less dependent on oil (imported goods). But yes, jobs would just be a positive bieffect.
@iannetta11 No and no. Article 1 section 8 of the Constitution states that the Congress shall have the power to coin money, regulate the value thereof, and fix the standard of wieghts and measurements(gold & silver). In 1913 Congress gave away the power to issue credit and handed it over the the Fed Reserve, a private bank that charges the govt. interest to "borrow" its own currency. I suggest starting your research with a little educational vid called "money As debt", full version is 40 mins
Congress was never given the power to issue bills of credit so it can not delegate a power it itself does not have. Paper money is unconstitutional money.
@12Tamtui That sounds even better than how I understood it, if true but I need some clarifacation. If both Congress and banks are not allowed to issue credit, than I guess no one is allowed to issue credit, even if it were to be repaid in gold and silver? Right? It also means that Lincoln's "green backs" were also unconstitutional, which wouldn't be surprizing but it would mean that the states would probaly have split up as the Fed Govt. would not have had any means to pay for the civil war.
Fiat money is extremely unconstitutional. Paper is not money, it is legal tender that is supposed to be redeemable in lawful money A.K.A. gold and silver (that is true on the law books even now.) The definition of a bill of credit is that is is payable in terms of real money, it is a promissory note. congress was never given the power to emit bills of credit and the states were specifically prohibited from doing so. This means no bills of credit are supposed to be used.
@12Tamtui Spread the word about honest/constitutional money! Sooooo many people never question the Federal Reserve Note or rising prices that are the result of creating too many FRNs. The USA does not need the Federal Reserve System. The accumulated wisdom of mankind has determined that gold and silver coins are the best money!
6:30 "We got out of the depression despite having to fight the 2nd WW". So what did we do that enabled us to get out of the depression? I wish Peter can elaborate on it on his next video.
@albertnz1 I can eleborate. The USA's Fed finally released the hold on the gold reserves for the basis of money. In the end, the gold got USA outta the Depression.
He already said that... Free market, despite the government intervention. You know it's not like that you will stay in depression forever if government does nothing. Free market forces correct the imbalances in the economy.
@albertnz1 Hoover raised taxes from 25% to 63%. Fed cut money supply 25%. Congress passed Smoot Hawley (1931) tariff act that raised tariffs 50% to 90%. Europe retaliated killing 7% of the economy. 1937 Fed doubled the reserve requirement from 7% to 14% for county banks. Roosevelt raised taxes from 63% to 79%. Roosevelt created more government regulation and interference in the market place. Hoover and Roosevelt had massive stimulus programs and debt. Hope this helps.
Hey Peter... breaking news... Youtube has upped the time limit to 15 minutes! I'd love for you to be free to talk more, so I figured I'd let you know... no more need to be like "OH CRAP! 10 minutes! I gotta end this now!"
FYI: They did this a month or so ago... I've seen people mention it to you before... why don't you listen?
@maxine2win ummmm yeah... and your Marxist flag avatar is all we need to know to know your viewpoint. Thanks for sharing, but no one's buying your brand of communism.
You can't make this stuff up. I have never seen so many morons on tv. The guy on there with Michael was a complete fool. How can anyone make the claim we are not seeing a bond bubble? I can't believe he gets paid to give people advice, but I also can't believe some of the clown in DC get paid to run our country off a cliff.
Michael Pento was a rude ass to Erin Burnett . Erin Burnett asked him a very basic question about the dollar that he was unable to answer so he got mad and avoided the question. It just goes to show Michael Pento has no idea what he is talking about.
@IWashMyOwnBrain She's nice, but not too bright for not challenging the other guy's comments about the bubble. 'It's not a bubble if people are buying', or something like that. I feel stupid even typing those words.
@TreachMarkets It's not a bubble till it pops untill then it's a bull market in bonds and is likely to last many more years. calling the bond market a bubble at this point is pure speculation. At least the other guy had a good answer for her question.
@IWashMyOwnBrain Hey, you sound really smart, 2005 called and they've got some really great real estate investments for you to check out! There's this guy Peter Schiff trying to rain on the parade, but don't listen to him. Hold on, now 1999 called and there are some killer dot-com IPO's coming up too! That Schiff guy sure is a stick in the mud.
You said the magic words, 'pure speculation', that what makes a bubble a bubble and not organic growth. That guy (not Pento) is an idiot.
@TreachMarkets Both the real eastate and dotcom phases made people some real good money, but it was only those that realized it was just a phase. I got in and out of the dotcom market in good time. I could have held out a little longer and made some more, but I could have also lost my ass if I stayed too long. I got my piece(s) of pie and got out.
The way world govts are handling stimulus packages, the gold/silver "bubble" will big bigger and longer than both of the above mentioned.
@IWashMyOwnBrain IWash, my ole buddy. Once again I am the opposite side of the trade. I am damn glad you're over there because I am having one stellar year, again. "Many more years" Not likely, and not the bet I laid down.
Burnett is stupid and when stupid people don't understand something they go on a "you are rude" rant . He was right. You must provide a reason to believe that rates will stay this low with this deficits,... and that the fact that Bernanke is keeping rates low now won't cause them to explode in the long run. Also remember when Ben said: JFYI I bought $1.5T of bonds and mortgages $ lost 3% of the value.So rates are low because economy is weak, not because US debt is great.
to see Michael Pento and Erin Burnett dual it out, boy is it intense lol
Actually it's not intense, erin burnett is such a sweet heart and even when she's mad she's so cute. If it was Michele caruso-cabrera she would have jumped through and punched Michael Pento in the face for being rude.
@baigandine because you would have freed up capital as well as worker capital. When these resources are readily available, the market forces them to move towards productivity. Creating this BS demand for the military industrial complex skews the free market and destroys many unseen jobs that were never able to be created.
@bobsacamano1 they havent loaned me any because i dont have a credit card so i dont benifit from their bail out program. You go on now thinking your smart and all lol.
@mrFizzboat The rebuilding of the earthquake will not mark the end of recession. The money used to rebuild Christchurch are taxpayer's money that could have been used in other places and other areas of the economy that would increase the TOTAL weath of the country because Christchurch would still be bustling had the earthquake not struck. The news just shows how clueless the NZ media is about the economy, and that's why I am trying to learn Austrian economics to avoid the misguided crowd.
At this point, I don't think there is ANY chance that US is going to do the right thing. The bubbles have become too big because of the >1% interest rates policy. There is no way that interest rates that reflect huge savings aren't going to create bubbles everywhere. No matter what
There is a housing bubble AGAIN in europe because of the over 1% interest rates.
People buy houses they can't really afford, rates raise, prices collapse -> foreclosures. It's the old story, zinch learned from 2008.
@bobsacamano1 Exchange rates wtf are you talking about. We buy Chinas products because they buy our dollars in other words the loan us money. When the second stimulus stops working will they loan us money again?
all these little ( 50 freaking billion) infrastructure payments seem like just installment and phase payments on the Nafta superhighway( Texas corridor)(Texi-Mex highway) and noone can see it. Hasn't anyone noticed the periodic allotments going to infrastructure in the billions. These are not state funds to the nearest expressway in each state. These are federal funds in the billions for each new phase of the project. People need to see this for what it is. by now theyt are probably onto OK orMS
I can agree with Schiff it's called the REP/DEM duopolist policy of HYPERCAPITALISAM the duplicity of 2% super rich elite rule over the 98% of the indentured slave class.
Erin Burnett is another CNBC cheerleader give her some pom poms. She sells financial stupidity for people that want to see a total meltdown of the U.S. economy.
Why would anyone want to support this type of financial cruelty?
In his previous blog, Peter mentioned that the stimulus was't in the manufacturing sector. What I don't understand is that Americans are still buying China made goods cheaply, so aren't Americans still benefiting? Look at Hong Kong, it is a service intensive econonmy but it is doing pretty ok. Also, if America can't repay its debts, what can the creditors do? Unlike bank loans, they don't have collateral to seize, so why worry? I am a novice to the Austrian school & just trying to learn.
@albertnz1 It is nice that we can cheaply import goods from china, but part of the reason why we're able to do so is because of the current exchange rate. If the exchange rate shifts in china's favor, the chinese will be able to outbid us for those goods and our standard of living will diminsh. it is far more likely that the government will print money to pay the debt than admitting we're insolvent.
@albertnz1 The truth is that there is no debt. It has been fraudulently created by the Federal Reserve System. The Chinese have been duped into this game and will not benefit. It is interesting though to have rumors that surround immanent domain and how it has been handed over to China in exchange for not dumping our good ol dollar. I am no expert but Schiff makes to much since in this vid Speaking on Bonds and how it is a bubble. The "FED" has the bully chip of interest rates...so OBEY
@Michaelllllllllll - Thank you for pointing out the truth. Debt is caused by privately owned central banking systems who have license to print our currency, and then LOAN it to us, at interest.
It is amazing how many people around the world are completely unaware of this.
The only way we're going to change things is to change the whole system - and people can start by purchasing locally made goods and services, and trying to avoid cheap imports. Choose quality over quantity.
@DOLLARCRISIS He received 22% of the Republican primary vote. If he can't win a primary with his charisma, knowledge, experience, popular YT channel, grassroots support, and sporadic MSM attention... then this country is truly DOOMED.
@kja5 well, look on the brightside: schiff started the race with something like 1 or 2 % name recognition. he finished with 49% recognition and got 23% of the vote. not too bad. for the 2012 senate race he should be in a good position.
lol krugman is funny is like hes a child, war in these economic stages would criple the US economy. War use to be an inevestmen like when spain found gold in the americas, but how can the US invest in war if were already in a 13 trillion dollar debt already were are we gonna borrow the other 5-10 trillion for war lol were gonna be in 20 trillion debt lol.
Infraestruture program make sense when the infraestruture of a country is deficient and inexistent (& the private capital haven't the means to make alone). I think that this is not the point in USA, that have a considerable, in-shape reality.
Here in BRAZIL we have what we call 'custo Brazil' (Brazil cost) that refer to the lack of good railroads, airports, roads, docks, and the impact that this cause to flow the production. In our reality this kind of program make some sense, but no in USA.
@francislauerBR Well, maybe you should look at the state of the roads in california. They are being shut off one by one because there is no money to repair them. Also US transport relies too much on fossil fuels to be competitive in the future, that is unless we find more efficient means of producing fuel from algae. Biofuel from corn and similar just wont work in a large scale, because we need to grow food too.As I said before, cheap resources + cheap transport and energy = cheap goods
Peter, don't wait 6 months to decide on 2012. We need you in the senate, 2 yrs will be here before you know it. You must now embrace the competition and sway your 26,000 votes to Linda if for nothing else than to get her out of the way.
Who says she won't loose to Blumey and run again and mess it up all over again.
Peter, you're a good prognosticator, but you're missing the most important element of a depression. War. If we go to war with Pakistan or Iran, wouldn't this dramatically change the economic situation? If we go to war with Iran, and oil skyrockets, wouldn't the dollar hyperinflate? I'd be interested in knowing your opinion on every possible scenario, since, as I"m sure you know, war in this situation is a distinct possibility, so it's not something you can claim you didn't see coming.
I saw the Burnett/Pento interview. It really wasn't an interview. She was trying to indoctrinate, not inform, the viewer.I saw the story on Zerro Hedge. This is why I stopped watching the Obamanomics Channel (CNBC) several months ago. Good riddance!
Well that's a heck of a way to end the video. :) I mean I agree with you in all sense, but it still doesn't leave me with a constructive positive moving into the rest of my day.
I think Pento was on Bloomberg not too long ago. He was speaking nothing but truth and the lady reporter told him he's way too negative and basically wouldn't be back on until he starts lying like the rest of that outfit.
I just watched the Erin Burnett clip that Peter is talking about. She is crazy - as a moderator, she should have a bit more composure; secondly, she should have the decency to ask the questions that she obviously isn't qualified to answer that are posed to her. But then again, what do I expect from a CFR member and statism worshiper. It reminds me of this older clip with Peter and her:
If you are interested, I have also collected a lot of money video clips in my various money playlists; 'Money Opinion' playlists are people's own opinion and blogs whereas the 'Money' playlists are broadcasted clips.
Maybe you find something interesting in there for you. Regards
Not clear why pricking the bond market would weaken the dollar. If bond prices fall that means interest rates are higher. Don't higher interest rates mean that you can lend out your existing dollar bills and get back more later? I think it would also mean that there is more competition for existing dollar bills from borrowers. Wasn't massive debt default the reason the dollar rose in 2008?
I was questioned about the fact that US bonds are still selling at fairly low interest rates: The reason is quite simple: The government has destroyed the rest of the economy, such that there are no good alternate investments, save for commodities (which are also rising). Thus, low rates on T-bills are not a positive statement on the strength of the dollar, but rather an indictment of the terrible state of the rest of the economy (the part that actually drives economic growth).
No, that's just because the GNP numbers for the war are flawed because everything was price-controlled. In reality, the economy began to recover as the war ended, essentially because price controls were ended. Nominal income fell, because the government was no longer paying for the war, and prices rose, but in reality the economy was growing because both the prices and the nominal income figures in the war were illusory.
The repubs are as liberal as the dems now so if they win in November, nothing much will change, they will print, borrow, spend, waste, etc. on and on. Repeating the same behavior that got us in trouble in the first place.
Michael Pento was dead on in that interview but I felt he may have been a little bit harsh, he should have saved that harshness for the ben steins and the other arrogant people
"the difference that you don't tax is a gift". Exactly - I've likened it to a thief stealing half the wealth of all the houses on your block, and then arguing that it's only right that the thief should steal half your wealth too.
Peter, what is your position on House Republican Leader John Boehner's proposition for a two-year freeze on all tax rates and a cut in government spending to the levels of 2008?
I never had any respect for CFR but now I feel sorry for them. I thought that they have some standards, but apparently they had to let that idiot in because she's on TV.
Ah Peter Schiff is so much better than all of those tards on TV; I can't believe they even LET Peter on TV. I'm always surprised at that. And someone always has the balls to disagree with him too, making themselves look foolish to anyone who understands the Austrian Business Cycle Theory vs Keynesian.
Gold is a threat to everything the central banks stand for. No fiat currency has ever stood for more than a century, fiat money is backed by nothing. The more they print the more their authority is diminished, they know it. They will use any/every excuse to push the price of the yellow metal down, that’s where we are today.
Defeat George Soros et al.
Starve the big NWO banks of your wealth, let them print their way to extinction.
Don't let their 'Cloward and Piven' strategy trap you.
@pretorious700 even intelligent people talk rubbish when they join a sect... (they use their intelligence to explain sick ideology).
Keynesianism is a sect - with tree-hugers and socialism is based on marxism.
With Nobel prizes being thrown around like candies nowadays... I wouldn't want to be in that club - murderers, charlatans and such scum (but good friends of marx and mao's followers).
The 50 billion dollar stimulus plan is so damaging for the economy. Obama is following the same policy FDR followed during the 30's which kept us in the depression for a very long time and made the dow jones to gold ratio go 2:1. Obama is doing the same thing we will continue this economic struggle until he stops his irresponsible economic policy, and the dow to gold ratio could go 1:1!!!
@stockmarketfreak What's really sick is that they gave AIG a $128 Billion bailout and all 50 states only get 50 billion. Where's the logic? The states have even said already before this bailout is even approved that it will create no new jobs, it may not even save any jobs.
The Euro is lower because the European banksystem is still fragile and a country in the EU refuses to help Greece, which could mean more dissident in the EU and the bankruptcy of several EU countries.
@puuuuuuch I agree, I am just explaining the lower Euro. I think the whole of EU should go broke. Fking leviathan states, corrupt EU and naieve politicians. Making me sick.
Peter, as i listen to you punch a thousand holes in Krugman's argument, I can't help but fantasize that you're debating him on a stage and making him squirm. I mean, if an audience heard the content of this vlog against what Krugman wrote the other day, they would unanimously declare you the winner. Btw, I commented on his article asking why he hasn't debated you, yet.
We need to start forming a resistance to this. I'm convinced the only way we'll take the economy back from those purposely trying to spark inflation is to refuse to play the game.
There needs to be a movement to vote politicians out of power if they keep printing money. If we don't, our kids are all going to end up being homeless.
@SuperSpidey25 A resistance is on it's way and think we'll see it in our lifetime. My only concern-certain points of the tea party movement, which is no doubt good but bad in some ways- is the trade off of power to one violent party for another. It is the universal belief of absolute self-righteousness on both sides of the fence and those who espouse to this system. It must go, the whole system of human management by limiting freedoms through police, coercion, kidnapping, and death-threats.
Let's be more accurate about history though. The Soviet Union did grow and industrialize extremely fast over 70 years. Compared to its initial size in 1917, it has grown faster than America, and in 1989 they had no debt to go bankrupt on. In the 80's they grew faster than China today. The collapse of the USSR was more a political decision than an economic inevitability. The economic condition of the US today (bubbles, deficits, debts) is much worse compared to the USSR in the 80's.
You have to be a moron to believe that the bond is not a bubble - inflation is running at at least 5% per year (except housing), interest on bond at 2% over 5 years, (of course the FED doesn't agree) . Idiot, imbecile, moron, fool, damfool, donkey, jackass, jerk, nincompoop,
Krugman is a Nobel prize winning nitwit.
pretorious700 1 year ago
HOLY SHIT!
Hard to argue with anything said in this video since late in it HE ACCURATELY predicts "Bipartisanship" in our government.....eg....the most recent tax bill....!
Getsen42 1 year ago
The problem with stimulus isn't that it doesn't bootst the economy, it can...
the problem is the benefits are cancelled out by opportunity cost. That results from only looking at the spillover benefit aspect of public works and not weighing it against the unintended opportunity cost. Furthermore stimulus is UNSUSTAINABLE. Schiff is right. We have to borrow or print and we can't borrow anymore or print anymore.
Of cours history will not mention that is why we stopped the stimulus.
mongoose704 1 year ago
How long is it going to take for people to understand something as simple as the broken window fallacy? This should really be common sense. Destroying things does not help anyone. Whether it's burning crops, wasting steel on sunken ships, or breaking windows... it helps NO ONE. Only the Austrian School is in touch with reality. Schiff, you're the man. Keep up the good work.
Gasolinealley00 1 year ago 4
Maybe Mike would be a little more courteous if Erin weren't yelling "Mike! Mike! Mike!" every time he tries to make his point.
bmartls32 1 year ago
Thank you for the lucid commentary Mr. Schiff - the sane Americans have to be louder than the insane ones, if for no other reason than because we can't have the rest of the world think we are all crazy. I know you aren't necessarily picking on Paul Krugman, but has he ever responded to you directly? It would be really great television to see you guys discuss things.
n66178 1 year ago
Dead on correct video, thanks Peter
VegasRage 1 year ago
This comment has received too many negative votes show
What a nut job this guy is. You see his campaign commercials ?
A total off the wall nut.
He predicted the housing market would tank. BIG FUCKIN DEAL.
High school kids knew that was gonna happen.
tom6612 1 year ago
@tom6612 I raped your mother's asshole and she shit you out 9 months later
savemyplaylist 1 year ago
@tom6612 Really? High school kids knew that? I hope those High School kids are millionaires now from shorting the housing market? Your the one that makes no sense. Everything he says is common sense man, its everyone else who has been brainwashed and scared into believing government is the solution for everything. I believe the U.S.A. is great DESPITE the government not BECAUSE OF IT.
kickndave21 1 year ago 8
@tom6612 wtf?
TheBlitz1 1 year ago
All fellow Peter Schiff fans,
Go to the New York Times website and email Paul Krugman and tell him Peter Schiff has an open debate against him and that he wants to debate him anytime anywhere. Lets put pressure on this fraud and let him know he's a modern day Keynes.
rmccay88 1 year ago 2
Pete I agree with your idea on ww2, However when unemployment is so bad, a war which creates employment, removes excess labour from the unemployment pool and creates a small but increase level of consumer spending. I hope the government does not use the ww2 model to get out of this economic event.
pawprintpettags 1 year ago
Erin Burnett is a spoiled little cry baby brat. That's why she's 34 years old and has never been married. No man would want to put up with her cry baby ass
fasteddie847 1 year ago
Pento was on the ball, but he was rude or at least impolite to be in such a hurry to shout down the host. Mr Pento would be more helpful if he got his message across -- when he lets the conversation turn to an argument and shouting match, people stop listening. CNBC is a raucous side show with hysterical hosts -- hopefully if Mr Pento takes the opportunity to be a guest on those shows again, he'll have to prepare himself and not get drawn into the shouting.
adamgreen222 1 year ago
I respect what you have to say Peter but I watched the interview with Erin Burnett and I'm sorry to say - I thought Mike Pento was irritating and quite rude in the interview.
I'm not surprised Erin Burnett had a go at him at the end. I'd have done the same.
The guy to the right of Mike Pento was a complete twat and I found him really obnoxious.
sromag 1 year ago
Peter-please address the fact that some economists are now warning of DE-flation. How can this go along with your theories of IN-flation?
RonaldReaganRocks1 1 year ago 2
@RonaldReaganRocks1
I asked that about a month ago but he hasn't yet (maybe he didn't see my message) so you've not missed it.
sromag 1 year ago
Erin Burnett is a spoiled little cry baby brat. That's why she's 34 years old and has never been married. No man would want to put up with her bitchy ass
fasteddie847 1 year ago
It seems to me that Krugman the Crook suggest a new world war in between the lines. These academics on the international banking cabal's payroll are not stupid, they know what is going on - they simply obey their masters and whore for money.
SvrchovaneCechy 1 year ago
The stimilus of the financial marked however, with bank bailouts etc., while helping out homeowners short term, will ultimately be very bad for the US economy. Just postponing the inevitable... :( The best would have been to regulate the lending and by raising the interest rates in the first place. I am sure more people then youd expect saw this coming but just kept quiet because they profited personally of it.
InfomaniacJack 1 year ago
What about the scenario where the US becomes Japan. That would of course be terrible but allow low interest rates.
Dejavo 1 year ago
Wow and this guy talks all day long about gold and silver and not about GNH-Gross National Happiness..this usually has nothing to do with GNP. Schiff if you want to be a leader you need to focus on the human condition.You sound like an armchair day trader and profiteer which is what you are ,rather than a person concerned with the the overall human condition. Get altruistic and volunteer at your local food-bank.
humaner 1 year ago
it is beyond all scope of reason how much you kick ass, Peter Schiff.
kowalityjesus 1 year ago 5
@kowalityjesus He's wicked bad ass. Too bad you have to a liar to win an election.
Gasolinealley00 1 year ago
Comment removed
njc67 1 year ago
great video
smokescreen767 1 year ago
top man
DumbPatriot 1 year ago
Excellent video as usual.
4L3PH4 1 year ago
I Love this Guy s Take and approach on things
He has a rare Quality
HE' S PRACTICAL!!!
bkeay100 1 year ago
Ron Paul 2012
LibertyPoet
website
campaign4liberty 1 year ago
Go Schiff!
mavaufberlin 1 year ago
Read the comments after Krugman's recent article. A widespread lack of common sense.
vivaloriflamme 1 year ago
I pointed out in the video where Burnett and Pento exactly what Peter just said, about how the guy who was saying there is no Bond bubble simply because people are "buying bonds." Just the most moronic analysis someone could come to a conclusion economically related I've ever heard.
rmccay88 1 year ago
cheap transport + cheap energy overall = cheap goods.
InfomaniacJack 1 year ago
btw, no, New zealand won't benefit from rebuilding something they already had, but the US would get something they lack of. If I where Obama I'd invest the stimulus in hydro/tidal energy and railroads (electric railroads that is).
InfomaniacJack 1 year ago
Hi Peter! Thanks for giving your views on the infrastructure stimulus. Maybe you do read some of the comments? :) I agree that for such a stimulus to have any effect there needs to be a focus on the economy and not politics, such as jobs just for the sake of jobs. But goods alone might not be the only long term issue. On the brink of an energy crysis infrastructure can help, while at the same time making you less dependent on oil (imported goods). But yes, jobs would just be a positive bieffect.
InfomaniacJack 1 year ago
thanks Peter!
MrCalipachanguero 1 year ago
Is paper, redeemable in NOTHING, money? Is fiat money constitutional?
iannetta11 1 year ago
@iannetta11 No and no. Article 1 section 8 of the Constitution states that the Congress shall have the power to coin money, regulate the value thereof, and fix the standard of wieghts and measurements(gold & silver). In 1913 Congress gave away the power to issue credit and handed it over the the Fed Reserve, a private bank that charges the govt. interest to "borrow" its own currency. I suggest starting your research with a little educational vid called "money As debt", full version is 40 mins
dlucas90 1 year ago
@dlucas90
Congress was never given the power to issue bills of credit so it can not delegate a power it itself does not have. Paper money is unconstitutional money.
12Tamtui 1 year ago 2
@12Tamtui That sounds even better than how I understood it, if true but I need some clarifacation. If both Congress and banks are not allowed to issue credit, than I guess no one is allowed to issue credit, even if it were to be repaid in gold and silver? Right? It also means that Lincoln's "green backs" were also unconstitutional, which wouldn't be surprizing but it would mean that the states would probaly have split up as the Fed Govt. would not have had any means to pay for the civil war.
dlucas90 1 year ago
@iannetta11
Fiat money is extremely unconstitutional. Paper is not money, it is legal tender that is supposed to be redeemable in lawful money A.K.A. gold and silver (that is true on the law books even now.) The definition of a bill of credit is that is is payable in terms of real money, it is a promissory note. congress was never given the power to emit bills of credit and the states were specifically prohibited from doing so. This means no bills of credit are supposed to be used.
12Tamtui 1 year ago
@12Tamtui Spread the word about honest/constitutional money! Sooooo many people never question the Federal Reserve Note or rising prices that are the result of creating too many FRNs. The USA does not need the Federal Reserve System. The accumulated wisdom of mankind has determined that gold and silver coins are the best money!
iannetta11 1 year ago
Pento and Burnett both talked over each other - no big deal. His tone not rude at all. She jumped all over him like a neurotic woman.
AwakenAmerica 1 year ago
Peter, what was wrong with your grey hair?
kiwicalibre 1 year ago
I'm going to buy some Crescent Point Energy shares on this dip.
takerdust 1 year ago
6:30 "We got out of the depression despite having to fight the 2nd WW". So what did we do that enabled us to get out of the depression? I wish Peter can elaborate on it on his next video.
albertnz1 1 year ago
@albertnz1 I can eleborate. The USA's Fed finally released the hold on the gold reserves for the basis of money. In the end, the gold got USA outta the Depression.
Denon3333 1 year ago
@albertnz1
He already said that... Free market, despite the government intervention. You know it's not like that you will stay in depression forever if government does nothing. Free market forces correct the imbalances in the economy.
Voy2378 1 year ago
@albertnz1 Hoover raised taxes from 25% to 63%. Fed cut money supply 25%. Congress passed Smoot Hawley (1931) tariff act that raised tariffs 50% to 90%. Europe retaliated killing 7% of the economy. 1937 Fed doubled the reserve requirement from 7% to 14% for county banks. Roosevelt raised taxes from 63% to 79%. Roosevelt created more government regulation and interference in the market place. Hoover and Roosevelt had massive stimulus programs and debt. Hope this helps.
Truthpolice9698 1 year ago
great video! keep telling it like it is.
DaveC86 1 year ago
Hey Peter... breaking news... Youtube has upped the time limit to 15 minutes! I'd love for you to be free to talk more, so I figured I'd let you know... no more need to be like "OH CRAP! 10 minutes! I gotta end this now!"
FYI: They did this a month or so ago... I've seen people mention it to you before... why don't you listen?
eagleeye1975 1 year ago
@eagleeye1975
His SW is limited to 10min. I presume he needs to update it.
Voy2378 1 year ago
I prefer there not be anybody "running" the monetary system.
tracysaboe 1 year ago
Ron Paul/Peter Schiff - President/Vice President... America restored.
HyperInflationNation 1 year ago
@HyperInflationNation
America ruined
maxine2win 1 year ago
@maxine2win ummmm yeah... and your Marxist flag avatar is all we need to know to know your viewpoint. Thanks for sharing, but no one's buying your brand of communism.
HyperInflationNation 1 year ago
we need to END THE FED!
a4finger 1 year ago 2
@a4finger Hell yeah!
HyperInflationNation 1 year ago
@a4finger End the fed and let the politicians run things....no thanks.
IWashMyOwnBrain 1 year ago
@IWashMyOwnBrain So you prefer private bankers run the monetary system?
Unkn0wnGuy 1 year ago
You can't make this stuff up. I have never seen so many morons on tv. The guy on there with Michael was a complete fool. How can anyone make the claim we are not seeing a bond bubble? I can't believe he gets paid to give people advice, but I also can't believe some of the clown in DC get paid to run our country off a cliff.
You can't make this stuff up.
bkdmd 1 year ago
Michael Pento was a rude ass to Erin Burnett . Erin Burnett asked him a very basic question about the dollar that he was unable to answer so he got mad and avoided the question. It just goes to show Michael Pento has no idea what he is talking about.
IWashMyOwnBrain 1 year ago
@IWashMyOwnBrain She's nice, but not too bright for not challenging the other guy's comments about the bubble. 'It's not a bubble if people are buying', or something like that. I feel stupid even typing those words.
TreachMarkets 1 year ago
@TreachMarkets It's not a bubble till it pops untill then it's a bull market in bonds and is likely to last many more years. calling the bond market a bubble at this point is pure speculation. At least the other guy had a good answer for her question.
IWashMyOwnBrain 1 year ago
@IWashMyOwnBrain Hey, you sound really smart, 2005 called and they've got some really great real estate investments for you to check out! There's this guy Peter Schiff trying to rain on the parade, but don't listen to him. Hold on, now 1999 called and there are some killer dot-com IPO's coming up too! That Schiff guy sure is a stick in the mud.
You said the magic words, 'pure speculation', that what makes a bubble a bubble and not organic growth. That guy (not Pento) is an idiot.
TreachMarkets 1 year ago
@TreachMarkets Both the real eastate and dotcom phases made people some real good money, but it was only those that realized it was just a phase. I got in and out of the dotcom market in good time. I could have held out a little longer and made some more, but I could have also lost my ass if I stayed too long. I got my piece(s) of pie and got out.
The way world govts are handling stimulus packages, the gold/silver "bubble" will big bigger and longer than both of the above mentioned.
DennyDFW 1 year ago
@IWashMyOwnBrain IWash, my ole buddy. Once again I am the opposite side of the trade. I am damn glad you're over there because I am having one stellar year, again. "Many more years" Not likely, and not the bet I laid down.
mcdonaldscalling21 1 year ago
@IWashMyOwnBrain
LOL
Burnett is stupid and when stupid people don't understand something they go on a "you are rude" rant . He was right. You must provide a reason to believe that rates will stay this low with this deficits,... and that the fact that Bernanke is keeping rates low now won't cause them to explode in the long run. Also remember when Ben said: JFYI I bought $1.5T of bonds and mortgages $ lost 3% of the value.So rates are low because economy is weak, not because US debt is great.
Voy2378 1 year ago
youtube.com/watch?v=DNv0AXb_s5A
to see Michael Pento and Erin Burnett dual it out, boy is it intense lol
Actually it's not intense, erin burnett is such a sweet heart and even when she's mad she's so cute. If it was Michele caruso-cabrera she would have jumped through and punched Michael Pento in the face for being rude.
john5246 1 year ago
Who says the bomb builders would have had any job if they weren't building bombs?
baigandine 1 year ago
@baigandine because you would have freed up capital as well as worker capital. When these resources are readily available, the market forces them to move towards productivity. Creating this BS demand for the military industrial complex skews the free market and destroys many unseen jobs that were never able to be created.
Syphalis1 1 year ago
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@bobsacamano1 they havent loaned me any because i dont have a credit card so i dont benifit from their bail out program. You go on now thinking your smart and all lol.
jezza1789 1 year ago
This is one day late cause today its completly another story on the currency market, crazy times...
vince8520 1 year ago
I am from New Zealand, I heard on last nights news at "least the post earthquake rebuilding will mark the end to the recession".
mrFizzboat 1 year ago
@mrFizzboat The rebuilding of the earthquake will not mark the end of recession. The money used to rebuild Christchurch are taxpayer's money that could have been used in other places and other areas of the economy that would increase the TOTAL weath of the country because Christchurch would still be bustling had the earthquake not struck. The news just shows how clueless the NZ media is about the economy, and that's why I am trying to learn Austrian economics to avoid the misguided crowd.
albertnz1 1 year ago
At this point, I don't think there is ANY chance that US is going to do the right thing. The bubbles have become too big because of the >1% interest rates policy. There is no way that interest rates that reflect huge savings aren't going to create bubbles everywhere. No matter what
There is a housing bubble AGAIN in europe because of the over 1% interest rates.
People buy houses they can't really afford, rates raise, prices collapse -> foreclosures. It's the old story, zinch learned from 2008.
Keyguya 1 year ago
@bobsacamano1 Exchange rates wtf are you talking about. We buy Chinas products because they buy our dollars in other words the loan us money. When the second stimulus stops working will they loan us money again?
jezza1789 1 year ago
@jezza1789 How much money have the chinese loaned you?
bobsacamano1 1 year ago
all these little ( 50 freaking billion) infrastructure payments seem like just installment and phase payments on the Nafta superhighway( Texas corridor)(Texi-Mex highway) and noone can see it. Hasn't anyone noticed the periodic allotments going to infrastructure in the billions. These are not state funds to the nearest expressway in each state. These are federal funds in the billions for each new phase of the project. People need to see this for what it is. by now theyt are probably onto OK orMS
2237lemon 1 year ago
I can agree with Schiff it's called the REP/DEM duopolist policy of HYPERCAPITALISAM the duplicity of 2% super rich elite rule over the 98% of the indentured slave class.
jibbi4one 1 year ago
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Love Peace Justice
LibertyPoet
website
campaign4liberty 1 year ago
Erin Burnett is another CNBC cheerleader give her some pom poms. She sells financial stupidity for people that want to see a total meltdown of the U.S. economy.
Why would anyone want to support this type of financial cruelty?
search: Erin Burnett: Michael, You Are SO RUDE!
jibbi4one 1 year ago
In his previous blog, Peter mentioned that the stimulus was't in the manufacturing sector. What I don't understand is that Americans are still buying China made goods cheaply, so aren't Americans still benefiting? Look at Hong Kong, it is a service intensive econonmy but it is doing pretty ok. Also, if America can't repay its debts, what can the creditors do? Unlike bank loans, they don't have collateral to seize, so why worry? I am a novice to the Austrian school & just trying to learn.
albertnz1 1 year ago
@albertnz1 It is nice that we can cheaply import goods from china, but part of the reason why we're able to do so is because of the current exchange rate. If the exchange rate shifts in china's favor, the chinese will be able to outbid us for those goods and our standard of living will diminsh. it is far more likely that the government will print money to pay the debt than admitting we're insolvent.
bobsacamano1 1 year ago
@albertnz1 The truth is that there is no debt. It has been fraudulently created by the Federal Reserve System. The Chinese have been duped into this game and will not benefit. It is interesting though to have rumors that surround immanent domain and how it has been handed over to China in exchange for not dumping our good ol dollar. I am no expert but Schiff makes to much since in this vid Speaking on Bonds and how it is a bubble. The "FED" has the bully chip of interest rates...so OBEY
Michaelllllllllll 1 year ago
@Michaelllllllllll - Thank you for pointing out the truth. Debt is caused by privately owned central banking systems who have license to print our currency, and then LOAN it to us, at interest.
It is amazing how many people around the world are completely unaware of this.
The only way we're going to change things is to change the whole system - and people can start by purchasing locally made goods and services, and trying to avoid cheap imports. Choose quality over quantity.
SuperSpidey25 1 year ago 2
@SuperSpidey25 Well Worded.
Michaelllllllllll 1 year ago
@DOLLARCRISIS He received 22% of the Republican primary vote. If he can't win a primary with his charisma, knowledge, experience, popular YT channel, grassroots support, and sporadic MSM attention... then this country is truly DOOMED.
kja5 1 year ago
@kja5 well, look on the brightside: schiff started the race with something like 1 or 2 % name recognition. he finished with 49% recognition and got 23% of the vote. not too bad. for the 2012 senate race he should be in a good position.
ftwbk 1 year ago
This has been flagged as spam show
The numbers don't lie, unlike the government.
pretorious700 1 year ago
lol krugman is funny is like hes a child, war in these economic stages would criple the US economy. War use to be an inevestmen like when spain found gold in the americas, but how can the US invest in war if were already in a 13 trillion dollar debt already were are we gonna borrow the other 5-10 trillion for war lol were gonna be in 20 trillion debt lol.
jezza1789 1 year ago
We need you to lead us out of this mess my man. Hope to see you running for political office again sometime soon, you got my support.
joeguy02 1 year ago 2
Pete, I just luv your economic advice and ideas.
mja2035 1 year ago 9
Infraestruture program make sense when the infraestruture of a country is deficient and inexistent (& the private capital haven't the means to make alone). I think that this is not the point in USA, that have a considerable, in-shape reality.
Here in BRAZIL we have what we call 'custo Brazil' (Brazil cost) that refer to the lack of good railroads, airports, roads, docks, and the impact that this cause to flow the production. In our reality this kind of program make some sense, but no in USA.
francislauerBR 1 year ago 5
@francislauerBR Well, maybe you should look at the state of the roads in california. They are being shut off one by one because there is no money to repair them. Also US transport relies too much on fossil fuels to be competitive in the future, that is unless we find more efficient means of producing fuel from algae. Biofuel from corn and similar just wont work in a large scale, because we need to grow food too.As I said before, cheap resources + cheap transport and energy = cheap goods
InfomaniacJack 1 year ago
@francislauerBR same here in Poland
breadeaterfrompl 1 year ago
END THE FED AND YOU END THESE ENDLESS WARS, THE UNSUSTAINABLE EMPIRE AND BIG GOVERNMENT
petiemac24 1 year ago 3
Peter, don't wait 6 months to decide on 2012. We need you in the senate, 2 yrs will be here before you know it. You must now embrace the competition and sway your 26,000 votes to Linda if for nothing else than to get her out of the way.
Who says she won't loose to Blumey and run again and mess it up all over again.
nobama1001 1 year ago 2
you are so right in this Peter.. And yes my greatest fear is bipartisanship.. Is what I tell all my traders as well.. In our morning sessions
Goodmorningforex 1 year ago
Peter, you're a good prognosticator, but you're missing the most important element of a depression. War. If we go to war with Pakistan or Iran, wouldn't this dramatically change the economic situation? If we go to war with Iran, and oil skyrockets, wouldn't the dollar hyperinflate? I'd be interested in knowing your opinion on every possible scenario, since, as I"m sure you know, war in this situation is a distinct possibility, so it's not something you can claim you didn't see coming.
seanboy80 1 year ago
I saw the Burnett/Pento interview. It really wasn't an interview. She was trying to indoctrinate, not inform, the viewer.I saw the story on Zerro Hedge. This is why I stopped watching the Obamanomics Channel (CNBC) several months ago. Good riddance!
sbenard1 1 year ago
Peter, are you guys going to begin uploading the wall street unspun radio shows to the "wall st unspun" channel here on youTube?
worldgoingtozero 1 year ago
!! YES !!
flyinbry 1 year ago
Well that's a heck of a way to end the video. :) I mean I agree with you in all sense, but it still doesn't leave me with a constructive positive moving into the rest of my day.
caseyrwalters 1 year ago
@thebrothermouzone Gold and Silver
peoples-bailout com
geemisner 1 year ago
At your best! Spot on!
jgbloyd 1 year ago
erin burnett is a dumb clueless bimbo.
stealthpakfa 1 year ago
But, she's hot.
Luvanicebum 1 year ago
@Luvanicebum you know it. I'd tap that ass.
mcdonaldscalling21 1 year ago
I think Pento was on Bloomberg not too long ago. He was speaking nothing but truth and the lady reporter told him he's way too negative and basically wouldn't be back on until he starts lying like the rest of that outfit.
IrradiateTheNWO 1 year ago 3
Thats the problem all currencies are over inflated, so what happens if they all keep printing?
bluzy25 1 year ago
@bluzy25
Gold standard. :D
Official or not doesn't matter. :D
Voy2378 1 year ago
I just watched the Erin Burnett clip that Peter is talking about. She is crazy - as a moderator, she should have a bit more composure; secondly, she should have the decency to ask the questions that she obviously isn't qualified to answer that are posed to her. But then again, what do I expect from a CFR member and statism worshiper. It reminds me of this older clip with Peter and her:
watch?v=6HIebJEsxUs
heyniceaddress 1 year ago
@heyniceaddress Thanks for the link to the past video.
Do you have the link to the new Erin video clip?
Thanks
elboertjie 1 year ago
@elboertjie You're welcome. I sure do - you're lucky, I saved it in my favorites because his eyeroll nearly merits a future EuroPac was right video:
watch?v=DNv0AXb_s5A
heyniceaddress 1 year ago
@heyniceaddress Thank you.
If you are interested, I have also collected a lot of money video clips in my various money playlists; 'Money Opinion' playlists are people's own opinion and blogs whereas the 'Money' playlists are broadcasted clips.
Maybe you find something interesting in there for you. Regards
elboertjie 1 year ago
What currencies does Peter Schiff recommend? Does anyone know?? Swiss franc? Canada dollars? Australian dollars?
TheBrotherMouzone 1 year ago
@TheBrotherMouzone
Gold :D
Seriously I think that he likes AUSD, NZD, he liked € before...
Voy2378 1 year ago
please be my president mr Shiff!
Cinemaguy2007 1 year ago
Not clear why pricking the bond market would weaken the dollar. If bond prices fall that means interest rates are higher. Don't higher interest rates mean that you can lend out your existing dollar bills and get back more later? I think it would also mean that there is more competition for existing dollar bills from borrowers. Wasn't massive debt default the reason the dollar rose in 2008?
martintheguitarist 1 year ago
I was questioned about the fact that US bonds are still selling at fairly low interest rates: The reason is quite simple: The government has destroyed the rest of the economy, such that there are no good alternate investments, save for commodities (which are also rising). Thus, low rates on T-bills are not a positive statement on the strength of the dollar, but rather an indictment of the terrible state of the rest of the economy (the part that actually drives economic growth).
WAMill3R 1 year ago
i agree with peter. when ww2 ended We had another collapse
puttincomputers 1 year ago
@puttincomputers
No, that's just because the GNP numbers for the war are flawed because everything was price-controlled. In reality, the economy began to recover as the war ended, essentially because price controls were ended. Nominal income fell, because the government was no longer paying for the war, and prices rose, but in reality the economy was growing because both the prices and the nominal income figures in the war were illusory.
WAMill3R 1 year ago
The repubs are as liberal as the dems now so if they win in November, nothing much will change, they will print, borrow, spend, waste, etc. on and on. Repeating the same behavior that got us in trouble in the first place.
pismo10 1 year ago
Michael Pento was dead on in that interview but I felt he may have been a little bit harsh, he should have saved that harshness for the ben steins and the other arrogant people
leone20012 1 year ago
"the difference that you don't tax is a gift". Exactly - I've likened it to a thief stealing half the wealth of all the houses on your block, and then arguing that it's only right that the thief should steal half your wealth too.
93msinclair 1 year ago
Peter, what is your position on House Republican Leader John Boehner's proposition for a two-year freeze on all tax rates and a cut in government spending to the levels of 2008?
TheBlitz1 1 year ago
Erin Burnett is a member of CFR. She's part of the shadow govt conspiring to bring about the World Govt.
chimpanchu 1 year ago
@chimpanchu
I never had any respect for CFR but now I feel sorry for them. I thought that they have some standards, but apparently they had to let that idiot in because she's on TV.
Voy2378 1 year ago
I just love listening to this economics junkie
turbotrana 1 year ago
Peter, I just bought your book...How Economy Grows and .... It is a masterpiece! Many thanks to your videos and education.
kguna74 1 year ago
Peter Makes me laugh every time i watch him, this time i laughed at his comment, i don't want to pick on krugman but...
leone20012 1 year ago
crazy, crazy world. I wonder what Peter thinks a stimulus giving directly to successful businesses would do as a short term solution?
Seano71 1 year ago
@Seano71
Successful businesses need no stimulus. They will grow on their own. Stimulus can only serve to prop up bad businesses.
WAMill3R 1 year ago
I like that analog, "The government thinks they get everything we earn and what they let us keep is a gift". Very well said.
SouthernKudzu 1 year ago
Ah Peter Schiff is so much better than all of those tards on TV; I can't believe they even LET Peter on TV. I'm always surprised at that. And someone always has the balls to disagree with him too, making themselves look foolish to anyone who understands the Austrian Business Cycle Theory vs Keynesian.
TheBlitz1 1 year ago 2
Gold is a threat to everything the central banks stand for. No fiat currency has ever stood for more than a century, fiat money is backed by nothing. The more they print the more their authority is diminished, they know it. They will use any/every excuse to push the price of the yellow metal down, that’s where we are today.
Defeat George Soros et al.
Starve the big NWO banks of your wealth, let them print their way to extinction.
Don't let their 'Cloward and Piven' strategy trap you.
MrGAB4444 1 year ago
Don't stop picking on Krugman, he deserves it.
nappyhairderic 1 year ago 3
people should start realizing that it doesnt matter if democrats or republicans are in power...all the same
managarm1349 1 year ago
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@managarm1349 And until they do realize, nothing will change.
SouthernKudzu 1 year ago
Erin Burnett is way over her head in nearly all situations.
pismo10 1 year ago
Is there any way we can send our views to Peter and get his comments on that ?? I'm sure does'nt have time ..still
aryanc77 1 year ago
Erin Burnett: Michael, You Are SO RUDE! watch?v=DNv0AXb_s5A
DavidAKZ 1 year ago
Wars don't end recessions, they just distort the figures that define them. A Nobel prize winner can't see that? Krugman is an idiot.
pretorious700 1 year ago 2
@pretorious700 even intelligent people talk rubbish when they join a sect... (they use their intelligence to explain sick ideology).
Keynesianism is a sect - with tree-hugers and socialism is based on marxism.
With Nobel prizes being thrown around like candies nowadays... I wouldn't want to be in that club - murderers, charlatans and such scum (but good friends of marx and mao's followers).
grraadd 1 year ago
I love these daily reports.
martinaoe2 1 year ago
lol, he is talking about the broken window fallacy. Not PC blogged about this
mexaguil 1 year ago
Yay gridlock!!!
Nexus974 1 year ago
Great analogue with the soviet union.
slipcurve 1 year ago
What is holding tax, what is tlf exile tax ?
johnsenkenn 1 year ago
Thanks Peter! Always appreciate your video blogs. You're absolutely right on this.
Krugman is a bunch of crap - loves to destroy jobs and taking away peoples' savings even further.
Peter Schiff for senate 2012!
ExhibitMan 1 year ago
The 50 billion dollar stimulus plan is so damaging for the economy. Obama is following the same policy FDR followed during the 30's which kept us in the depression for a very long time and made the dow jones to gold ratio go 2:1. Obama is doing the same thing we will continue this economic struggle until he stops his irresponsible economic policy, and the dow to gold ratio could go 1:1!!!
stockmarketfreak 1 year ago 4
@stockmarketfreak What's really sick is that they gave AIG a $128 Billion bailout and all 50 states only get 50 billion. Where's the logic? The states have even said already before this bailout is even approved that it will create no new jobs, it may not even save any jobs.
rayme4raw 1 year ago
Read about the continuing spending and corruption at our site. Also, see the debt growing in real time -just click DEBT CLOCK in the menu bar.
usactionnewsdotcom 1 year ago
Spend, spend, spend! Argentina 2001 here we come.
PatriotEke 1 year ago
As I watch this video it says it has 301 views. Then I click on the LIke button and it says 317 like 2 thumbs down? Do the math!
mrdoonbeg 1 year ago
The Euro is lower because the European banksystem is still fragile and a country in the EU refuses to help Greece, which could mean more dissident in the EU and the bankruptcy of several EU countries.
karkelkhan 1 year ago
@karkelkhan Personally, I wish Greece did go broke. Those effing lazy bastards are taking it too easy.
puuuuuuch 1 year ago
@puuuuuuch I agree, I am just explaining the lower Euro. I think the whole of EU should go broke. Fking leviathan states, corrupt EU and naieve politicians. Making me sick.
karkelkhan 1 year ago
I live in Japan — talking about infrastructure, Japan is so far ahead of the USA in terms of the condition of bridges, trains, roads, etc.
CanterburyCat 1 year ago
I heard that Zakaria is a Muslim kornholer! Is that true?
beabro 1 year ago
Unbelievable. Good work Peter!!
Mike Pento owned Burnett!
Intervene 1 year ago
Peter, as i listen to you punch a thousand holes in Krugman's argument, I can't help but fantasize that you're debating him on a stage and making him squirm. I mean, if an audience heard the content of this vlog against what Krugman wrote the other day, they would unanimously declare you the winner. Btw, I commented on his article asking why he hasn't debated you, yet.
hummarstra 1 year ago 3
@hummarstra
Hey-- I saw your comment! I wondered if it was from someone who watches his vids.
vivaloriflamme 1 year ago
We need to start forming a resistance to this. I'm convinced the only way we'll take the economy back from those purposely trying to spark inflation is to refuse to play the game.
There needs to be a movement to vote politicians out of power if they keep printing money. If we don't, our kids are all going to end up being homeless.
SuperSpidey25 1 year ago
Comment removed
Kiyaki777 1 year ago
@SuperSpidey25 A resistance is on it's way and think we'll see it in our lifetime. My only concern-certain points of the tea party movement, which is no doubt good but bad in some ways- is the trade off of power to one violent party for another. It is the universal belief of absolute self-righteousness on both sides of the fence and those who espouse to this system. It must go, the whole system of human management by limiting freedoms through police, coercion, kidnapping, and death-threats.
Kiyaki777 1 year ago
"That's it ever...?" What HAPPENED!!?? What was he going to say?
tizacat 1 year ago
@Donbadajoz
chrome by any chance?
capncrunch93able 1 year ago
Fantastic video, love the info
troybr79 1 year ago
Let's be more accurate about history though. The Soviet Union did grow and industrialize extremely fast over 70 years. Compared to its initial size in 1917, it has grown faster than America, and in 1989 they had no debt to go bankrupt on. In the 80's they grew faster than China today. The collapse of the USSR was more a political decision than an economic inevitability. The economic condition of the US today (bubbles, deficits, debts) is much worse compared to the USSR in the 80's.
juujuuuujj 1 year ago
Awesome! Run again Pete, you'll get it next time!
numba1stunna4269 1 year ago
You have to be a moron to believe that the bond is not a bubble - inflation is running at at least 5% per year (except housing), interest on bond at 2% over 5 years, (of course the FED doesn't agree) . Idiot, imbecile, moron, fool, damfool, donkey, jackass, jerk, nincompoop,