My understanding was that the outrage isn't about banks loaning money to individuals that cannot afford the debt, but that banks are not extending credit to businesses that need the money to maintain payroll. Wasn't the logic behind the bailout supposed to be that the banks are to continue loaning to businesses to stave off unemployment?
Sad thing is, they're trying to avoid a riot especially since the X-Mas season is nearing. They want us to keep spending, to keep ignoring the simple fact that we're just putting ourselves in larger debt, and spending isn't gonna help.
rosewood makes me laugh, did you not understand basic economics? If you borrow and simply consume that money, you will eventually need to pay that back but you will not be able to. Why not? Because of the same reason why they borrowed the money in the first place; there is not enough production in the US to support its consumption.
All hail Mr. Schiff
alanhowitzer 3 years ago
My understanding was that the outrage isn't about banks loaning money to individuals that cannot afford the debt, but that banks are not extending credit to businesses that need the money to maintain payroll. Wasn't the logic behind the bailout supposed to be that the banks are to continue loaning to businesses to stave off unemployment?
zewari007 3 years ago
Sad thing is, they're trying to avoid a riot especially since the X-Mas season is nearing. They want us to keep spending, to keep ignoring the simple fact that we're just putting ourselves in larger debt, and spending isn't gonna help.
KissMeImPunk 3 years ago
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peter is lucky and its coincident that he got it right. The US economy is the strongest in the world!!!
Subprime is a small sector.
rosewood223 3 years ago
Then I suggest you to buy a lot of US stocks right now.
the1337k1ng 3 years ago 2
rosewood makes me laugh, did you not understand basic economics? If you borrow and simply consume that money, you will eventually need to pay that back but you will not be able to. Why not? Because of the same reason why they borrowed the money in the first place; there is not enough production in the US to support its consumption.
inemtsev 3 years ago
FUCK ART LAFFER THAT COCKSUCKER PAY PETER DAMNIT AND ADMIT YOU WERE WRONG YOU LITTLE PISS RAT.... lol.... peter RULES!
matello18 3 years ago
He just schools everyone that doesn't know their subject very well.
keokirhodes 3 years ago
I have noticed that he does think he's pretty great.
On the other hand, he is pretty great.
xLeeRWilsonx 3 years ago 5
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peter schiff full of schiff
hitobedut 3 years ago
> peter schiff full of schiff
Better than full of shit, like Ben Stein, Art Laffer, Ben Bernanke, Hank Paulson, David Lereah, Andrew Mozillo and Dick Fuld are.
I don't give a shit about ego. I care about money.
fuzzywzhe 3 years ago 7
hello Mr Laffer
dogatron 3 years ago
Peter is such a stand-up guy.
norfair18 3 years ago 5
Peter Schiff is awesome.
pomnew 3 years ago 6