Ron Paul advisor Peter Schiff's economic forecast

[SuperperformanceStok]

PETER SCHIFF 2012!

[Joshforeclosureblank]

Schiff is bright. He gets it.

[2fresh4dell]

some of this is preposterous! He CLAIMED that people saving their money helps to boost an economy and, nobody had the balls to challenge him on that trash!

This guys brand of economics is very dangerous because, it requires one to wait and, hope a "private investor" comes and, saves the day! Saving money does NOT boost the economy of a country! Spending on private businesses boosts and economy!

Shame on you peter for your shady economics!

[fahimh]

saving money DOES help the economy retard.

saving money encourages production. that's why we have trade deficits, we don't produce anything because we SPEND all the money on consumption--the opposite of production. America is a consumer nation! we don't make anything worthy of purchase!!!! that is not a good economic place to be!!!!

[sungmee45]

We as american have consume too much and haven't learn to save. It will get worst! Elite groups who owns the federal reserve, they are the one creating this mass problems in our lives, just because they want more power. Everyone need to awaken!

[rambo753]

the question is...

when the US will collapse... will they drag the others into another war or will they implode in a social chaos?

I am sorry for the american people. everyone abroad knows that the responsible for the coming mess are the puppeteers, the tiny oligarchies which rule that country

[OutlawTomFantastic]

"We're going to attack the symptoms and not the disease." The disease is the Federal Reserve and the government.

[sinitskyd]

very tough times are coming to this country. Hopefully there will be no wars or American Hitler out of all of this.

[cajunsatan]

David Walker has been trying to warn the American Idiots for YEARS. He has told us that Washington knows what is happening to the economy. He has told us that our economy is unsustainable without major change. He has told us that NEITHER of the major party candidates are addressing this issue and shouldn't be elected.

But as usual, nobody fucking listens. They are too busy watching Monday Night fucking Football to give a shit. Fuck em. We (collectively) deserve every thing we are about to get.

[whitecollarcriminal]

Peter Schiff sounds like he's Ron Paul's younger clone.

This guy whines and whines and whines but has No solution other than simply letting things falling apart and trying to rebuild from there.

[cajunsatan]

Sure he has solutions. Did you watch the video? Restoring sound money. Cut govt. spending. American's getting out of debt and securing their own future. Restore the free markets. Get out of American Dollar investments. Raise the interest rates to stop inflation.

I am not saying anybody will listen, but everything he is proposing is exactly right. And the only road to get past this is a recession. Economics 101 man.

[Tasadaru]

well done on the explanation. funny how people just want to know the solutions and ignore how we got here in the first place.

[Jakearoo14]

Obviously you did not watch this video.

[char777778]

so true

[whitecollarcriminal]

Has anyone thought about the fact that more Americans are watching MORE television than EVER before. Watching more news channels and watching more politics than ever before.

The News Medias are getting rich off you people.

Peter schiff has HIS OWN AGENDA. He's Chairman of Europac. He is selling a BOOK.

IIf you REALLY WANNA CHANGE AMERICA, PICK UP A GUN, GO OUT AND START KILLING CEO's and CONGRESSEMEN.

Voting is a JOKE.

Show them we mean business.

[michael0845]

But Obama has a lovely smile and McCain is a war hero.

[trent2429]

This may be the most informative 10 minutes of video on YouTube.

A thousand thanks for posting.

[frix123]

don't these ppl in congress, washigton and Fed comprehend what he's saying?? I highly doubt it. And I think it's done on purpose as part of a shady agenda.

[solidsnake1447]

People need to wake up! and stop acting like the events that are affecting the economies around the world are not very serious! With awareness comes solution but unfortunately, people are not interested in these subjects and are distracted by being anxious about whats the next generation of herbal hair gel going to be!

[olemunati]

Who cares? Britney Spears has a new video out soon! BHAAAAAAHAHA!

[solidsnake1447]

oh yeah right. Finallyyy! lol.

[UNKNOWNPOW]

Hahaha, good satire.

[sh200kr]

free money!

[trec600]

Everyone says to invest into gold currency, but my question is that does'nt the world bank and IMF regulate the price on gold? I understand the market , but the powers that be still will have last say so. always prepare for worst case, don't leave things to people who care less of you.

[olemunati]

There is a gold market, and that is regulating the price. I don't think IMF or the world bank has so much input on it, other than that the gold market is extremely small, so a big capitalist like world bank, buffet, Soros or a goverment could manipulate the price very much. But not necessarily to their own benefit. Actually a small market is good for small fish. You cannot buy A LOT of gold without the price rising very much, and when you sell it, the price goes down.

[Zhuangyao]

Peter is angry because the govt didnt give him the stimulus cheque.

[danpt2000]

Thats a joke right?

[andrewebisu]

Go Peter! Telling it like it is.

[joejjl]

Oh no! The sky is falling! Underconsumption and saving grows economies? WTF? Productivity grows economies. America's greatest assets are our freedom and human capital. If any country in the world can overcome a financial crisis ...we can. Maybe the current situation WAS a result of our lavish spending ...but we're rich and this is just a speed bump.

[sarjil]

newsflash!! we don't make anything anymore. the chinese do, half of all the stuff in the world. we are consuming things made in china therefore buying chinese goods means our money going to china. the whole economy is service based and inward looking, people just shuffle the same money around and make believe this is a rich country. i wish freedom was=to money, but it's not and our latest human capital are rappers. the sky is not falling down but the aftermath would be lower standard of living.

[SirJohnMaynardKeynes]

Great Job Peter! Look'd like you left the dollar RIGHT when it bottomed! And entered the euro right when it topped! You Fool! How are you gonna use all your American trading licenses in Europe?!?!? Is that why your wearing such a cheap fucking old suit my friend?!?!?!? Haahaha! America's the greatest fucking economy ever! You tax skipping baffoon!

[sarjil]

doubtful, right now the dollar looks to be making a run then it'll plateau just like it rose dramatically the last couple of days and then the same old story.

what do u mean by trading license...didn't get ur question????

[derrobb]

Friday June 13th 2008

Dow down over 300 points -3.00%

NYSE down over 100 - 4%

Commodities all UP UP UP UP etc..

Dollar down, down, down, up against the peso!

Care to revise???

Wake up my friend, tech bubble, credit bubble, currency bubble, housing bubble, etc -- bubbles have a tendency to eventually burst. Allocate your assets out of dollars and preferably into currencies/metals that will protect your wealth from inflation.

[SirJohnMaynardKeynes]

I'm always right

[SirJohnMaynardKeynes]

series 7, etc. pete's got tons of 'em! Dollar will rise w/ stock market, while commodities will be down the next 100 days till the election. Mccain will win, Republicans will gains more seats in the house and senate than anyone expected: a lot! If ur interested in trading: "Trading for a Living" by Alexander Elder!

[Tasadaru]

I love when people make fun of Ron Paul because of his supporters. They fall silent fast when they find out people like Peter Schiff and Jim Rogers support him. I guess Peter and Jim must be "crazy" for giving money to Ron. Ron Paul 2012 if not 2008. Took Ronald Reagen 2 times so who knows?

[sunnfun]

You better buy gold now because the dollar at this moment is worth about .40 cents.

Most people in the US do not own gold and are setting themselves up for disaster.

[Zhuangyao]

lol.

prices is increasing because someone in China is eating more meat.

[sarjil]

how much of the price is due to chinese eating more?? truth is a lot of things are effecting the us economy, including incresing chinese consumption and also ridiculous us economic policy and mindset.

[sacrux]

Tell it like it is Peter.. Don't let the gov fool you..

[TajiTJ]

What is wrong with what he is saying. I never hear people give points to counter his views. They change the subject.

[Bernd1964]

I think the real problem behind the current crisis of the Dollar is the bad private management of the US currency by FED-Bankers. If the US Dollar and the US economy would have been carefully managed over the past 15 years, the US-Dollar would still be a currency of great value today. Central banks should be owned and ruled only by autonomous state authorities and have a clear, transparent and logical conduct with a scientific economic background.

[danpt2000]

The mismanagement stems from overconfidence and arrogance. Americans have far too long view themselves to be the Hegemonic Overlords of the rest of the world. Why is US dollar the reserve currency of the world? Why is Oil priced in US dollars? Why is price of Oil so much cheaper in the USA than in other nations? Could the US military arm be part of the reason? What happens when the rest of the world no longer wishes to play be rules of the Global Policeman?

[rowania]

when the US runs into trouble, they will just not pay the debt, and will wage war

[myspacesecrets]

this dude rocks....tells it like it is...not the lies and manipulations from the govt....

keep up the good work peter!

[labartic]

God bless Peter Schiff!!!

[MarkMagnetic]

Has anyone noticed he sounds just like Ron Paul? His accent and way of talking? lol. Anyhow, this guy is truly a genius.

[sbmillionair]

Yea they sound the same because they both tell the truth

[murphycline]

Definitely similarity in content, but Peter has a Connecticut accent (his family's from Connecticut) and Paul has a sort of GBush I mixed accent; Pennsylvania mixed in with Texas.

[rpbajb]

Peter Schiff is one of the most under-appreciated economic minds in the US today. Been following his advice for 3-4 years to great financial advantage. I believe he's a genius.

[pguitarb]

excellent

[forced4motorsports]

Great speech. One thing not touched on was the free trade cost to our jobs. Don't know if this was mentioned, didn't read all the comments. With the housing bubble collapse, almost no blue collar jobs the continued erosion of white collar jobs due to big business outsourcing... this is why we can't consume any longer. They've shot themselves in the foot. They sell our jobs to foreign interest, abandon their local customer base and kill the profit margin they try to increase by using cheap labor.

[murphycline]

I would argue that government interference in the market, high taxes regulations etc, as well as so called managed trade is what does the damage. That and government bailouts and subsidization of corporations has hurt the competitiveness of our businesses.

[sarjil]

i whle heartedly agree with u except for that today's us economic model is not really free trade. it's managed trade in favor of big business, but i'd like government to put tarrifs on imports and that's the only place i'd like to see government intervention in our economy, internally our government should let us run free. externally we should have america first policy.

[murphycline]

I certainly agree about our current 'free trade' policy as being managed trade for the benefit of special interests and not true free trade; the Hong Kong model of unilateral drawing down of tariffs coupled with the elimination of corporate and agricultural subsidies and other forms of corporate welfare would be the ideal situation for me.

[freekrolik]

The truth is raising

[InTheSticks1881]

:O)

[sandorjohn]

inflationary money printing by the Fed can't last. Their fudging of the CPI #'s (excludes food and fuel) and non-disclosure of the M3 (how much they print per year) to the public says it all - you can't trust them. We've borrowed ourselves into a bad spot. Despite the Wall St. whizzes and the brains at the Fed to stem the tide, and keep consumption going, they're making it worse. It was a great party folks, but it's time to grow up, work hard, save, produce and start acting like Americans.

[sandorjohn]

Buy gold. Buy platinum (an even rarer resource) - only so much of it on the planet - simple supply and demand economics - to keep the integrity of your money safe. People have to eat. People get sick and die. And people need energy to keep warm, cool, cook their food and move themselves and goods. You can't go wrong with any of these industries for capital preservation, a dollar hedge and growth. Get out of the U.S dollar/equities. Peter's right. This over-consumption, rampant borrowing and

[InTheSticks1881]

Precious metals to preserve excessive wealth, food to preserve life. Buy the only insurance that can feed and protect your family. Highly recommend survivalblog(dot)com.

[sh200kr]

thank you so much!!!!!