Economist Pete Schiff Announces Run Against Chris Dodd

[villanova85]

this is why Dodd is Leaving!!!!

[CliveSinclairZX]

good luck peter. we need more people like you in the government.

[diffidatio]

Yes, that's what we need: a market fundamentalist who cares only about deregulation... which is the same ideology that got us into this mess! The train wreck in slow motion is his philosophy! Who cares if he predicted the crisis... the crisis was created by his fellow de-regulation nutjobs! OF COURSE it lead to a crisis - millions of people predicted that!

[michaelpshipley1]

why does it not work? in what cases doesn't it work? remember to use real free market cases, not ones where its half free market, half government interference.

[MrThomasPAIN]

one piece of shit Mason replacing another...when are you sheep going to wake the FUCK UP and come to the understanding that ALL of these pieces of SHIT are working for the same side. When the truly rich and powerful are dumping their feed(money,sex,drugs,false power)they ALL belly up to the trough like they are the same species.............

[marniespeaks]

FYI his father is Irwin Schiff

[marniespeaks]

he should have run as a libertarian not republican

why help the crooks?

he's going to have a tough time as well

his record and the money he's running against

[SailorCire]

He talks like he's from Washington...

[whoo689]

Peter Schiff for Senate! :) CT voters MUST oust Dodd. He's a disgrace to the state and just another typical Northeastern Dem. The Senate needs more liberty-lovers, like Schiff and Rand Paul. Adam Kokesh is running in the House, if I recall.

[LouieArrighi]

PS knew the economy would crash because of deregulation. he's a genius. lol

[sjcpal]

Wow did ya hear that he got the Reagan talking points all down ,,he's good ...

[47f0]

Smells like a big ol' steaming pile of bull-schiff in here. Schiff's "theories" of economics have appeal only to the simple-minded who think a pile of Krugerands buried in the back yard will fix all economic woes. His hyperinflation hyper-hysterics have not been born out, either historically (except when he cherry-picks and ignores other relevant factors) or in current indicators.

[michaelpshipley1]

so by deduction your saying that greenspan and bernanke and paulson are right? we should all just keep doing the same thing? keep borrowing, printing and spending? now that sounds pretty simple minded and lazy. if your doing something wrong, the answer is to do it more?. :-P

[lamouchemorte]

"the most bigger"

[hoff100]

now that's some Schiff

[kevmo99]

Schiff will only win at taking votes away from Dodd's Republican opponent. Schiff has also said that he wants to do away with Medicare. That kind of talk won't win him many votes. Add in the massive douche factor and Schiff doesn't stand a chance.

[michaelpshipley1]

worse case scenario, schiff and mcmahon split the independent vote and simmons gets elected.

schiff said he would keep medicare for now because people are dependent on it.

[snipzor]

I know it's Chris Dodd and everything, but this is Peter Schiff, and he's a gigantic douchebag and he will lose.

[wns513]

Pete Schiff can't say "yes"... so why the hell should he be elected to the senate?

Dodd is destructive too; both are unfit for the position.

[MooseOfReason]

wns513, "can't say yes" to what?

[wns513]

Schiff can't respond 'Yes" to the news casters inquiring of him running for Senate.

[MooseOfReason]

Actually, at 1:20, he says, "I have decided [...]"

That's a yes.

[PersonalJesus348]

Rich people really dislike Dodd.

And a lot of them conservatives.

[mistaspot1]

Great. What we need is definitely not another paleoconservative who has a burning hate for the poor.

[MooseOfReason]

mistaspot1, How's that? He's against the inflation tax, which hurts the poor the most.

He also wants to bring the troops home, something Chris Dodd is against.

[mistaspot1]

Inflation tax? You just made that up.

[sailfished1]

Inflation tax is a well understood fact , He did not make it up

[mistaspot1]

It's not a real tax. It's just a way of saying that he's against government spending, which I already knew. We're all against inflation, we just don't all agree that we have to eliminate government programs that are the hallmark of a sane society.

[chainzdown2dadik]

government itself is the hallmark of an insane society.

[mistaspot1]

The yellow scare is serious business.

[gisforgary]

inflation tax isn't a tax as you understand the word tax -- and it doesn't hurt the poor the most, it hurts people with cash holdings. its the "tax" of having cash during inflationary times -- your cash loses value -- the govt isn't collecting it though..

its dumb to say you are against the inflation tax -- its kind of the same as saying you are against inflation but its a lot spookier sounding. outside of economics clesses its mostly used by fearmongering libertarians..

[michaelpshipley1]

inflation hurts the poor the worst. people with savings get interest to counter the inflation. salaries lag and never catch up completely.

[MooseOfReason]

Mistaspot1, Ben Bernanke admitted that inflation is a tax. Look the video up on YouTube.

[Visfen]

He has the most relevant experience and exeprtize of not just any politican, but any American, to deal with the economic crisis.

[someperson111]

LMAO do you think Pete Schiff won't be an absolute corporate WHORE

[WKaliberr]

Quentin Tarantino needs to run for senate

[p00lman]

I love these idiots who talk about how Washington is such a problem . . . and that's why they want to go there and become part of it!

The saddest part is that this self-contradiction is overlooked and somehow convincing to some voters.

[tj5555555]

p-an: so what do you suggest? should we just leave the experienced crooks in their place in DC? Perhaps you would like to leave C. Dodd elected in place for life sort of like a royal liberal elite privilaged class. No, i say put P. Schiff in for 6 years and throw him out as soon as he begins to show signs of corruption. We need to demand that our congress be, and remain straight, not crooks. We should demand financial responsibility from the officials. tj

[wildpeachatl737]

I think Dodd needs to get busy, but I don't think Schiff's the answer either. We've got to stop electing the same mice and cats into office...

[7jerryv7]

In a democracy the government is the problem? So why have a democracy? Ifdemocratic governments are just as problematic as authoritarian why have a government at all? Never understood this line of reasoning.

[wildpeachatl737]

It's not the principles, it's the people that the problem.

[7jerryv7]

But if the principles are sound why is it always argued that the people are the problem? If people are always problematic then there is no reason to have the principles.

[wildpeachatl737]

No, it's reason for the people to start acting and operating as if they have the standards and morals under which the principles are designed to operate under.

[DoctorDoubleX]

the lazy, misinformed, American Idol watching, non-voting American is the problem.

[classicallady]

doc don't forget about jerry springer, marny and the other imbecilistic reality shows

[sailfished]

That is why we live in a CONSTITUITIONAL Republic , not a democracy. Democracy is mob rule, 50.1% dictating to the minority how they live their lives

[7jerryv7]

There are many types of democracy, and many put Republics under the heading of democracy. I do not believe the US is a democracy but not because its failure to fall within the ancient Greek definition.

[sailfished]

7jerry v7 While our system adopted many of the principles of the Greeks we enumerated and elevated Lockes vision of natural law, and furthered theconcept that we are born with individual rights , that these rights were not ,and cannot be "given" nor taken away by anyone. This is the core of our constituition

[7jerryv7]

This is a groundless principle. No person or people were ever given rights and do not have inalienable rights. Rights are not granted nor inaliable but taken and maintained by force.

That which a man or woman cannot guarantee through their own means cannot be guaranteed by anything or anyone else.

[sailfished]

I think you are parsing words. It is true , we have been given a republic , it is through vigilance that we keep it!

[classicallady]

They should all move to Somalia. They have NO government whatsoever there

[tinmantreys]

That is such a naive and overly simplistic thing to propose coming from someone who sounds reasonably intelligent.

[classicallady]

naivite is expecting capitalists to think how best to provide services through a capitalist return and believe they will not end up palling up each other in order to form a monopoly to increase their gain against the very same people.Burlesque to it's core

[tinmantreys]

In capitalism you must at least match a good or service with a demand before you have a chance at making a return. Government on the other hand has no incentive to provide anything of value, can promise a good or service and not deliver, can take money up front AND at the back end, and amazingly are still off budget and pandering for more.

[classicallady]

Social darwinism? Plutocracy? Tks but no tks. I kind of like the system we have in western Europe.You may not agree neither accept it but the government is there to protect you from gullible disastrous greed-driven corporations.Good luck

[chainzdown2dadik]

who will protect you from the gullible greed driven politicians? when will people learn that you are your own first line of physical and intellectual defense.

[classicallady]

Intellectually I can deffend myself very well but why should I be afraid of my physical self?I hate guns and dont agree anyone should and can carry a gun.We don't have this kind of lunacy "texas style" there....

[michaelpshipley1]

america is not europe. we have different governmental structures, cultures, and histories. what may work for you there wont necessarily work here. europe isn't as strongly controlled by a central government as the u.s. is. this central control has become corrupted by special interest groups so we cannot depend on it to protect us. we need protections from IT.

[classicallady]

Well you have a point here but I believe as we have a more socialist structure - and that's why every body here have been yelling bloody murder - the government interferes when the big sharks want to screw the people. It's more intrusive yet we have more freedom per se . Cheers

[michaelpshipley1]

in any society, too much concentration of power is the problem, whether its corporations, government, banks, special interest, etc.

the u.s. had the perfect balance in its first 100 years. a small federal government and a free market that had natural mechanisms of risk and reward that promoted productivity and wealth creation in a sustainable way. its only when the federal government gained more power over the years did things start to go wrong.

[7jerryv7]

Read Upton Sinclair's The Jungle. If the US had continued the way it had for the first 100 years there would have been a real revolution, not the bullshit one that just replaced monarch bastards from England with rich bastards from the upper echelons of US wealth.

The Federalist Papers outlined a mechanism for keeping power in the hands of the elites and the masses fighting for scraps. Kinda like what goes on with health care for the almost 100 million under and uninsured....

[3star2nr]

I cant stand Peter Schiff. He doesnt know shit, and speaks in jargon to sound smart.

Hes nothing more than a corporate slut. \\Anyoe with half a brain can see that unrestricted capitalism leads to disaster and thats what this clown is proposing

[classicallady]

libertards probably don't believe in fire department, highways, police et al...they are all "state" org.

[luqven]

just the fact that you would say that says how little you know about "libertards".

[classicallady]

I have a great friend and also call him the same. You ppl are driving along Utopia Rd. destination to Cervante's best piece La Mancha.....

[michaelpshipley1]

please don't call people derogatory names like "libertards." while you are in this channel, thank you.

imo libertarians are not anarchists as you insinuate. most are similar to jan helfeld, they are minarchists. meaning a minimal government that allows things like a fire dept, highways, etc. very similar to what the u.s. in its first 100 years.

[verstwo2]

What a Shiffty character.  Hope he looses.

[terpis]

Meh. \

New, would-be boss. Same as the old boss.

Don't believe the hype: social darwinism ain't anything to get excited about.

[SuziQ1953]

Schiff's simplistic answer to EVERY problem: lower taxes.

[sailfished]

I love simplicity, but in fairness his views are a little more nuanced than that SuziQ

[alex3914]

Maybe Shiff will be the seantor to finally enact term limits for these career establishment politicians that only care only abut the bottom line and not our country.

[kelseywall]

Was it the government that caused the economic collapse, or was it Wall Street?

[silversalvo]

Capitalism it self caused the collapse.

[sailfished]

Is there a difference? It is a revolving door!

[TheIllegit]

Government. W/o governmental influence the 'economic collapse' would have been a mere economic downturn, part of the normal ebb and flow of the market.

[sailfished]

I think alot of our problem stems from the manipulation by the federal reserve. You can't just increase the money supply out of thin air w/o destroying our currency. They call it "Quantative easing" A techie term for adding zeos on a computerized balance sheet. There is no money, we are broke ,it is all smoke and mirrors

[7jerryv7]

Capitalism = foundation of Wall Street.

Specifically greed as the highest value. People purchased houses they could not afford. Then, the system allowed gambling on the success or failure of the housing market (derivatives). Those that saw the coming downfall of the market bet against the system. When the housing economy colapse this also helped with the downfall of banks. The double whammy of greed.

Ah, to be Christian and Capitalist and willing to ignore contradictions.

[classicallady]

very well played here 7jerry.Trust libertards to dream about financial anarchy

[7jerryv7]

Libertarianism is childishness written into a political ideology. It is not workable in modern society. In fact, it is dangerous.

[classicallady]

Absolutely

[michaelpshipley1]

how it it childish? how is it dangerous?

[tinmantreys]

"Financial anarchy" is what founded civilized society.  Social tyranny is what will bring it down.

[michaelpshipley1]

it wasn't greed, it was the federal reserve. without their easy money policy no one would of been able to buy houses they couldn't afford.

[7jerryv7]

Yeah, but why was the policy instituted? Because people are greedy. They bought into the greed principle and bought what they could not afford. There were also the predatory lenders. This ceated toxic assets.

However, what brought the system to its knees and almost caused it to colapse was derivatives. This was legalized gambling. The people that saw the system crumbling (housing market) bet against it and there was barely enough money to cover it.

Greed played a role everywhere.

[michaelpshipley1]

yes i agree, but no one can eliminate greed. certainly not the government. it was greedy government officials who created the federal reserve and fannie and freddy, the cause of the housing market collapse.

the solution isnt to regulate out greed, you cant. the solution is to contain greed within the free market by restoring risk. no more bailouts, no guarantees. fear will contain the greed.

[7jerryv7]

Fear sometimes contains greed. At other times greed overshadows everything.

The causes, in general, behind the Great Depression were the same as the causes of this recession.  In short people viewed the stock market in the 1920's as gambling. However, the game was rigged. The rich, suh as Morgan, could not bail out the system.

The same was true with deravatives (gambling) based on year 2000 deregulation. Luckily the government bailed the system out.

Regulation is needed.

[michaelpshipley1]

the cause of the recession both 1929 and now was the federal reserve pumping too much money into the economy previously, allowing people to borrow too much. the depression, in the 1930s as well as the one we are going to experience now, was caused by government trying to get us out of recession by interfering with the economy. we need less regulation (the fed regulating money supply and credit rates) .

[7jerryv7]

One thing about the FED pumping money into the system - Gold Standard. Did not happen in the early 20th Century.

[BigPurple121]

I'm glad libertarians are gaining power.

[sailfished]

This is what I am talking about.Good job tpmtv on reporting this .Peter is the one who woke me up re: the absolute train wreck our country is in. This fellow along with Rand Paul and Adam Kokesh are the new blood that we need in D,C, Hopefully hundreds of others will join the cause . We need to stop the maniacs from extorting our childrens future

[michaelpshipley1]

congratulations to peter schiff! if the federal government would follow his advice we could stabilize the economy and start recovering immediately. if not we will slip slowly into an abyss we may never get out of. for proof, read this:

google: More On My "Deflationary Collapse" Ticker

[robinvan1983]

only 10.000 people that mailed pete? and that is a growing number of Americans that the government is the problem?

I think he liked the 1 million dollars

[tinmantreys]

This is the guy that predicted the whole mortgage/credit crisis long before there were signs of trouble. Take Dodd out Pete!

[hypothetisch]

So did Paul Krugman but their economic views are diametrically opposed to each other.

Just because he predicted something doesn't mean he is right about everything else.

[tinmantreys]

I would take Pete over Krugman any day. He puts sound fiscal policy over social pandering.

[gisforgary]

krugman and other keynesians predicted this mess years before libertarians did. if the libertarians weren't listening to keynesians they would have been out to lunch too. Sorry but libertarians did not invent economics. Who is Krugman supposed to be "social pandering" to? Just about everyone hates him for being right all the time. Can you even name one "sound fiscal policy" Schiff adheres to? Or are you just more hot air in a tri-corner hat? .

[sailfished]

You crack me up with your crackpot distortions, anyone who wants to spend 3 hours on youtube researching the comments of Schiff and Krugman will see what utter nonsense your claim is

[chainzdown2dadik]

the austrian economists (libertarians) have been predicting this since 2003. and it may not have been "libertarians" who "invented" economics but when economic science was first established it proposed the free market. keynesian economic theory didn''t come around until after the great depression, and keynes made a baseless and false assumption that it was caused by the free markets. so in other words keynsian economic theory has a foundation on a falsehood.

[gisforgary]

please don't spread blantant lies about the austrian school of economics, libertarians, and keynes. Modern austrians are soley contrarists -- they like to say everything is wrong and dance around singing laissez faire like its a rain dance that will fix the universe. In short austrian economics is dead in the water.

Libertarians come from two angles -- both flawed. The kill the fed -- which is romanticism -- as in everything was perfect in 1912 and Wilson had to go and screw us all.

[gisforgary]

second silly libertarian movement -- the objectivists define capitalism as "that which is not communism" based in fiction by ayn rand. crazy pants dances abound in the middle of big red scares. Its not easy discussing keynes in small spaces but you are dead wrong on keynes theory. if you go back to adam smith -- he thought the markets needed an "invisible hand" -- thats not laissez faire. keynes said governtment regulatory agencies need to be that hand -- and its worked quite well.

[chainzdown2dadik]

you're the one spreading lies about economic theory, not me. adam smith did not say markets "needed" an invisible hand, he described an invisible hand that guided economic growth. that invisible hand is human ingenuity and common sense, not the government. the argument for ending the fed has nothing to do anything prior to 1913 but the damage the fed has done since its creation and even woodrow wilson expressed regret for signing it in to law. and what government regulations "work quite...

[chainzdown2dadik]

well"? for the most part these regulations have chased companies over seas and made it difficult for remaining companies to compete with foreign companies in their own market. the fda for the most part are mere co-conspirators for corporate farms and drug companies to supply dangerous food and drugs to americans. japan's lost decade is due to repeated "stimulus" packages, a keynsian proposal. the economic crises in our economy has nothing to do with deregulation, but do to an unsustainable...

[chainzdown2dadik]

bubble created by the federal reserve. and debt funded wars are not anti-keynsian. keynsian theory at least "military keynesian" theory claims that war spending stimulates the economy.

[chainzdown2dadik]

also, about keynsian theory. keynes assumed that it was the free market and not enough government regulation that caused the great depression, which is why he proposes it. but it was the federal reserve inflating the money supply that is responsible for the stock market speculation that caused the recession of 1929 and it was regulations imposed by hoover that turned that into the depression. everything that comes from keynsianism starts with a false assumption. also, during the recession of...

[chainzdown2dadik]

1921, the downturn was more severe than the recession of 1929. president warren harding took a free market approach and did nothing but provide unemployment relief, and the recession was over and the economy was stabilized before he died 2 years into his first term.

[jasoncutbirth]

Oh yeah, working out great! Go Keynes! WooHooo

......

almost everything the government touches goes up in price and down in quality, regulation and anti trust laws are vitally important, but who are you kidding...

[gisforgary]

i will forgive you for being young and stupid -- since your whole adult life was under bush you have been schewed in all kinds of crazy directions. Go take some classes in keynes and learn something other than neocon talking points.

[chainzdown2dadik]

is that reply supposed to be directed at me? if so you can't possibly be serious. how about you actually debate my points instead of making blind assumptions and about my character. and neocon talking points??? i'm anti-war, anti-drug war and anti corporatist, i could be classified as a socialist before a neo-con.

[chainzdown2dadik]

and what the hell would "most of my adult life" being under bush have to do with anytthing? for one, i don't even like bush and two, most people my age are liberal obama drones. i think it's you who demonstrated that you have no clue what you're talking about.

[Jaconfilm]

is this directed toward peter?

If so, you are oh so incredibly lost and I am sadened by it!

[gisforgary]

eastern governments -- india, china, japan -- have adopted keynes with success.  the current fiasco in our own country is directly related to "deregulation" -- opposition to keynesian regualtions established by government roughly from the 30s-70s. so we deregulated everything and have a big hot mess thanks to corruption and greed with no oversight. lets talk fighting debt funded wars -- very anti-keynesian. they got us far. down a hole.

[awerner2007]

Precisely correct. Just because I can accurately predict that the sun will rise tomorrow does not mean that every prediction or analysis I make of tomorrow's day is or will be correct.

[michaelpshipley1]

peter's prescription for recovery is based on the same principles that made the american economy the most productive in the world, free market principles. krugman keynesian theories are what caused our downfall and would prevent recovery.

[gisforgary]

you are so backwards wrong its stupid. when did you ever even study ecnomics? is that a never i hear? thought so.

[sailfished]

Krugman sticks his finger in the air and says what he is told by the gaseous wind that emanates from goldman sachs,wall street cabal.Peter has stuck by his gunseven when he was ridiculed ,defamed and lampooned by the "experts" who got us into this mess.Krugman was the poster boy for the bailout the big boy crowd