If you invest every year your 9k expecting 20% yield compounding within next 5 years, you will have roughly 80k for further investment. Go BHP or RIO. That will give ya conservative hedge, yield and dividends in the unstable environment.
Here are upsides to a weaker dollar.The US benefits from a reduction in the international role of the dollar. Unless the United States quickly achieves&maintains a sustainable econ position, its ability to pursue autonomous economic and foreign policies will become increasingly compromised.A falling dollar is thus a mechanism whereby excessive US borrowing from abroad can be rolled back., it would help to meet a stated goal of world leaders in recent G-20 meetings.
Beyond this indirect gain, the most direct effect of a weakened dollar would be to hike the cost of goods imported into the United States and make American goods appear cheaper to the rest of the world. This, over time, would likely ease the pressures for trade protectionism that have increasingly strained U.S. relations with countries like China, Canada, Mexico, and the members of the European Union.
Peter is exactly right, you should see the amount of Apartment buildings that are being built in the Los Angeles area. They are sprouting up like weeds, but at the same time so are For Rent signs. They are all over the place. And people keep losing their jobs, moving away, etc, so there are going to be an insanely excessive amount of unoccupied apartments and homes all over the place, and thats just in LA. And things are only going to get worse. Wow, thanks Obama & BIG Government!
First - I didn't ask your opinion dumb aussie - so keep it outback where it belings! I am NOT ONLY blaming Obama - I did also mention BIG Government, plus Obama is driving the boat now (or is at least the front man) so yes, he does get the blame - when Bush was in office, he got the blame, he is gone Obama is in, thats the way it works - jerk! I know who the real criminal is, the not-so-federal federal reserve! I am in groups doing all we can to spread the truth about all these criminals!
Hey Peter Schiff fans (including myself), check out Mike Shedlock on Kingworld news. He and Peter both correctly called the market crash. The diffrence though is that Mike (or Mish) and he's investments done very well in 2008, Peter got CRUSHED 2008. Mike says China is all hype, and the dollar will rally.
Hi Dell. I tried to find how well Mish had done in 2008, but all I could find is the funds in that company he works with/for. (Sorry but I forget the name at the moment) From that I gathered he didn't do well at all actually. If you could provide me with some links it would be appreciated.
What exactly is Mish calling for wrt the dollar index?
Mr. Sunshine gives good economic analysis, but that hasn't much to do with politics or the political office he seeks, sadly.
The nation's governments have morphed into nested labyrinths of criminal enterprises at the federal, state, county & local levels and across all branches, and the Fourth Estate too.
VIDEO: "CNN: The Politics of Planting"
They no longer need citizens, and the peasantry has no problem with their new role as hapless subjects at the receiving end of ever more "free" stuff.
Peter thanks for the wisdom everthing you said is true even when real estate was reasonable upkeep and taxes are a huge expense. On another note did you catch those fools led by the sexy Alexis Glick and her crew all stating how we need another homebuyer stimulus until demand comes back. If they are not shills for the Wall Street crooks then they are endlessly clueless hacks who never learn. Another Stimulus = a more bankrupt Govt and another huge wave of individual and bank defaults
BUT - over the last 24 months stock holders lost about 15 Trillion USD; homeowners lost equity of about 20Trillion USD.
So my question is . . . Does the USA have MORE currency/wealth over the last 24 months or LESS currency/wealth? And what does that mean to Real Inflation (cost of bread and butter)?
The brilliant economist Peter Bernholz at the Univ of Basel, Switzerland, said hyperinflation occurs when the govt deficit exceeds 40% of its expenditures. Guess what, the U.S. hit the 40% mark in 2009. Just a few years ago th Swiss Frank was worth only 70 cents, now its virtually at parity with the US Dollar. Defend yourself, buy Gold, don't rent houses.
His explanation on rent cost is spot on, at least to me. I lost my job in the automotive industry. I saw this coming and I was renting a house for $700 a month. I'm 25 and moved back in with my parents and now the house is for rent for less than I was paying to get someone back in there. And this isn't even the cheapest price in town, I just didn't want a dump. Yes the rents ARE going down in town as more ppl lose their jobs in town. THIS IS REALITY! Thanks Peter.
From the dawn of civilisation people have traded in a free market place, It strikes me that meddling US gov't just can't help themselves they are swimming against an ever stronger economic tide.. Why do they insist on making life so hard for themselves ?? Peter throws them the best advice they're ever going to get everday for free !! Clean your ears out Mr Obama!!
Last time i checked it was called supply side economics where the govt becomes the biggest consumer. He's right on the housing glut, there are millions of houses that are empty in every city in america. Ask any realtor how good business is (NOT).
This comment has received too many negative votesshow
If he is so succesfull in the "money" business, why is he asking for your hard earned money "for him" for his own career change....
dont ever give you money "for free" to a guy that "uses other people's moneys to get rich".
It is to the core. Do you really think he loves you man?....Peter loves Peter...he will find your "free money" to make himself "richer" .....not you!!!
I sent him $25 because that was all I could afford. I am trying to buy some freedom from government, and the Federal Reserve's inflation, perhaps you should think about how much you take it in the ass from the FED, or perhaps you'd rather vote for someone that's been bought off by Goldman-Sachs?
is the 3 day, week up and down in the casino halls of wallstreet, short markets. and the selfish, non-visionary thinking like this moron here, that is hurting our economic system. Now this idiot wants your "free money" so that he can have a new career, (politician)...since he cant make it in rough times in the financial markets. watch your wallet from this guy. and guys like him....he will ask you for "FREE MONEY" ...for "HIM"... not for you.
dont listen peter keep em 10 min long ............these ppl are full of shit if they are trying to say they dont have 10 min out of the day to listen.........
Here in SoCal, seems like 50% of people are taking in roommates. Look on Craigslist & you'll see how many want to rent rooms out. The prices are coming down, I notice, because of all the competition.
This comment has received too many negative votesshow
Hey Mr. Schiff, I do not understand how you are now taking aim at gov't tax credits. People do not have to take the tax credits, but I agree, it can lead to more predatory lending which got us into this mess in the first place.
But the real reason we got in this mess was a lack of gov't regulation in Wall Street. If we let the free market work run free, all the want to do is maximize profit for their shareholders. And they would do that by lowering costs. So no, Mr. Schiff, gov't is not all bad
As a landlord in Canada, I think rents will go up. We did not over build, you can only get a mortgage for 70% on a rental and more foreign students and families are coming here to fill empty homes. Also, we have to prepare for the tsunami of Americans that will come to live here after their economy and dollar collapses.
also lots of the huge houses in the US are capable of housing multi generations or families. that can add to the downward pressure in rents you mention
I just switched my portfolio to more overseas investments with heavy emphasis on the Asian stocks and bonds available. I was invested in all American stocks.
Hey Peter, you mentioned in your video and in Crash Proof 2.0 that the chinese will stop buying our debt and start purchasing our consumption goods like tv's and used cars. Today there is a report on bloomberg that China is preparing to issue an anti-dumping case on U.S. Cars. What can you tell us about this? What about the cash for clunkers, is the U.S. taking the used cars from the dealerships and sending them over seas? I appreciate your response. Thanks, Brad Feasel
"The economy grew at a 3.5 percent pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes. It was the strongest signal yet the economy entered a new phase of recovery and that the worst recession since the 1930s has ended."
Hey Peter, thanks but it appears the government has got this recession all fixed and cranking. Guess you don't need to run for Senate afterall (just kidding). LOL
I once saw a chart of average household expenses of germans during the hyperinflation years in the 1920's. What was interesting to me was for one year the average person spent less than 1% on income on housing. The rest was on food, ect.
What we are seeing, I think, is a series of downturns and upturns, followed by more downturns in the markets. Historically, we saw this prior to the Great Crash, when markets went through a series of peaks and valleys before the deluge. Right now, they are just waiting for the US gov't to be completely tapped out. It's all about the timing at this point, waiting for the next upswing to sell into before the next downswing to buy.
there is organic farming. I always buy organically grown food and I am starting to grow my own vegetables.
At least farm land is producing something. Suburban sprawl that is covering up fertile farm lands produces nothing but very short term profits for a developer while making Americans more dependent on foreign grown produce and foreign oil. Americans hauling their big fat asses 50 miles to work in a big fat SUVs just to live in a wasteful to heat and air condition McMansion is more poisening
Peter, this is so easy to understand. I am disappointed in your book, "crashproof 2.0" I can watch one of your videos here and get this. I read the book and enjoyed it, preaching to the choir. I gave the book to someone who needed it.
How hard is it to understand rent/housing price. dividends/stock price. If the asset can not be justified by income, you are speculating, participating in a ponzi scheme.
Peter - Great job once again! Just a quick question though..you've continuously mentioned that the U.S. government is basically destroying, for lack of a better word, the economy. Ok, I will buy that. But then, isn't China doing the same thing? I mean the PRC gov't has full control on every aspect of the Chinese economy. Are they also making tons of mistakes? When you say you like Asian equity, do you take the role of the government into account? Thanks!!
I would say he does not account for that risk because he thinks that the US government will confiscate gold. He has said to buy SVM, but China has taken assets from individuals in the past, such as coal mines because they have natural resources. I guess they can take it from their citizens easily, but maybe it is harder to take from foreign investors.
I think you should start out the videos, "Hey everybody its Peter Schiff and I'm a badass." thats all you have to say, nothing else. lol great info and good work.
Hey Peter...Great Video! however I want to play the role of devil's advocate for a minute. what if we do get a repeat of 2008 where the world markets crash, we go into a global depression, and deflation hits, sending the dollar soaring. given all the money printed that has occurred that would seem impossible, but inflation can only occur if that money gets out into the system. all this bailout money is just sitting on banks' balance sheets, its not being lent out. the money supply is contracting
It sure would be great if our Government stopped throwing our money at financial institutions in order to make sure asset and investment "prices" don't reset to a natural level.
Taking our money to make our lives more expensive is just plain wrong.
It's an obvious statement I know, but interesting how it's avoided with such vigor. Anybody who tells me my Government works for me or is on the side of the people is either stupid, or a liar.
lol, remember when Schiff said the only thing dumber than "Cash for Clunkers" would be "Dough for Dumps"? Looks like the Gov saw that video. They must not have picked up on the sarcasm.
Hey Peter, Thanks for the educational videos! I would like to hear your thoughts on the huge downward move in gold and silver this week. Do you think this will continue? or is now a good time to add to our position? I know long term the price is going way way up, but do you think there is a lot of room to fall in the near term? Thanks!
The homebuyer's credit is a direct transfer of wealth from people who have payed their mortgages and renters, to people buying homes. Homebuyer's credit = theft.
Americans just don't seem to get-it. You're right though, rents are dropping hard. In some area's, you can name your price! We sold our big house. Why? Because it was overpriced, and we didn't own it. The BANK owned our home. We are now renting a nicer home, for half of what our mortgage payment was. Not to mention, no more expensive repairs!
Wow Aspen, that is unreal. Good for you. We've owned our home for a long time now, and we've not been yet hit by a housing bust. There is no way you could rent our home for even close to what the costs are. That tells me we need to come down as home prices are still at a premium. I fear a smack-down, but at the same time I now have cost effective living without answering to anyone and every year we pull coin out to invest, and pay that off during the year as if it was a regular mort. payment.
Very well explained. I think that answers even more questions. Awesome job Peter! I really hope you win! I'm not in CT, but if Peter wins, it's like a victory for us all.
If the home owner counting on repaying their mortgage from the rental income. If rental price drop and interest rate rise, the home owner won't be able to maintain their investment property. Which mean it'll go to foreclosure. That also mean you as the renter of the property will lose your rental home.
Hey Peter, ive heard alot of great info from you on the american economy but no mention of the decline in oil production, the real reason we're in recession. Why have you not mentioned peak oil in any video or television appearance??
I think a better answer to the question asked to Peter is this:
Housing prices were already super inflated by the housing boom. Now that it has popped, even the massive amount of inflation being created cannot keep the overinflated housing market from deflating. At some point, housing prices will hit a bottom and at that point, inflation will be the only remaining force, and drive house prices higher.
I am not sure about your argument that rent will go down. I imagine taxes will go up and that includes property taxes. Landlord may not have a choice but to pass on that expense to the renter.
Hasn't "Owned" a home in 3 years. We didn't qualify because we owned a home 3 years ago. We bought it 8 years ago. I think Peter is completely mistaken , or am I misinformed by our tax lady.
i have been looking into buying a home and i have read the stipulations to the tax credit, and if i remember right (big IF) it applies to not having purchased a home in the last 3 years, not owning, do your own due diligence you can find the requirements to recieve the tax credit
seems everytime the DOW plummets, Dollar rises, Commodities tank, will this continue??, or will we see DOW 40K and Gold 5K, otherwise I think it's DOW 5000/Gold 800, and Dollar in the high 80's back again, but what do I know, just a discruntles Silver owner
Schiff is a long term investor which means you should never sell a stock. Just like words of wisdom from Mr. Buffet. And since you never have to sell to use the money, you must start out a rich guy since that is excess money.
Pacific Invest Management Company released a newsletter a couple days ago saying that the 'Disorderly Decline of the Dollar cannot be ruled out.' Hmmm!
PIMCO owns the largest bond fund if I'm thinking correctly.
I like how Peter cuts through all the bs and disinformation and gets to the facts. He will be a great Senator or President! We need to hear the truth.
It seems to me that rather than dicking around with influencing people's purchasing habits with tax credits, why don't they just cut taxes across the board (and spending)! Talk about a stimulus! Image getting 10% of YOUR money added to your paycheck.
I don't know why he talks about hyper-inflation, it's not going to happen until we lose reserve currency status- years away.
Is there anything new with the campaign besides this bomb? I haven't seen much press. He had more BEFORE he was running.
YES! We are going to lose the reserve currency status, but it will most likely take 5-10 years before the central banks get everything switched to where they will no longer protect the dollar. Right now they have a HUGE incentive to keep the dollar afloat. Bernanke may KNOW that the dollar is going to be dropped no matter what he does and wants to get one last hurrah out of it.
Lol, I tried to explain the same thing to my landlord when the lease on my apartment was up last month. He wasn't going to budge though. Would have cost me more to move than the amount my rent went up. Oh well.
If we can't get congress neutered next Nov we are screwed forever. Maybe too late we already hit the iceberg and the lower compartments are flooding. I think there will be some hyper deflation in retail till Jan 1st week then retail property collapses at least 10-20. or more percent.
Another Questions could be, WHO ACTUALLY OWNS THESE HOUSES THAT ARE BEING RENTED? Centry 21 and Remax are just "property managers". The real deal is, behind MILLIONS of uncounted fraudulent foreclosres, these rental properties are owned by the bailout recipients who fucked-off $23.7 Trillion Tarp dollars homeowners never got. The true amount of the "glut" of housed is being hidden effectivly hiding the true damge to home values. Give thanks to FANNIE, FREDDIE and MERS and the bailout recipients.
I have to admit, I bought a pile of CDN denominated GMAC debt and made a nice penny (Canadian penny) off of it from 2008. Stupid politicians. They did exactly what I thought,..of course I was there to take more than my share. All I can say is, you know they're gonna do the worst thing possible, so start betting that way and make money off of it. For the record, I pulled the GMAC trade off the board today. Nothing but crumbs left. 2 months left to maturity anyway. Done.
Don't forget BMac.....who owned GMAC? 49% GM, and 51% Cerberus - the worst pile of clowns I have ever seen under one roof. Those guys have some funny money coming in, because they lose more of it on investments than any company I know. Of course their board is full of high-profile well connected US politicans so you know they're going to be taken care of. Then there's the US Icon, GM.
A total disaster for ever.
You ask yourself, what is the dumbest thing the Gov't could do for the taxpayers?
this video is one of the best ones he has made, and he has made a lot of amazing videos. this guy definatly turns a light bulb on in my head everytime he brings up a valid point. BUY GOLD PEOPLE - BUY GOLD. Don't put your money into a savings account for GODS SAKE!!!!!
Hey Peter, I agree with the vast majority of what you say. However, I find it very difficult to believe that the USA economy will be the only one to struggle - including China (who has a bubble of their own)
You have to remember China still makes STUFF. So if everything goes to hell would you rather be exposed to China's producer economy that still makes stuff or America's service economy full of useless paper.
The government will have more power because people will be afraid, and they have weapons. Hurry, you must buy all the gold you can. So when they confiscate the gold, you can get some compensation for survival when they send you to the fema camps. I know exactly what's going to happen.
you don't know what your talking about. You absolute thinking will lead you to loose a lot of money. If the dollar becomes worthless, people will still trade goods and services. and you probably don't know anything about purchasing gold either
I emptied my savings account and bought 1 ounce of gold and 36 ounces of silver. You need to be more realistic. You don't know how bad the situation is. I know exactly what's going to happen. If push comes to shove, I won't pay my landlord for as long as I can.
I bought 600 ounces of silver in 2004 and own three gold companies since 04 also, i know what im talking about. I sold one bar early this year when it was up, its not that simply to sell. It takes time and time has value.
Look, I only need Peter to pump the gold prices so I can make money when it goes up. Everyday it goes down, I get more and more angry. I don't want him bringing my gold prices down.
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hbloch1 9 months ago
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tiblon1 1 year ago
I think Peter speaks nothing but truth, too bad nobody wants to hear the truth.
karsailz 2 years ago
In Shit hole Australia
I earn 50k -18.5k rent -13k tax -10k expenses for 2 children n stuff
savings 9k per year
fox20012 2 years ago
If you invest every year your 9k expecting 20% yield compounding within next 5 years, you will have roughly 80k for further investment. Go BHP or RIO. That will give ya conservative hedge, yield and dividends in the unstable environment.
SvrchovaneCechy 2 years ago
When inflation doubles in a few years that 9K will only be worth 4.5K, and your rent will go up and overhead costs too.
metalschooldrill 2 years ago
Here are upsides to a weaker dollar.The US benefits from a reduction in the international role of the dollar. Unless the United States quickly achieves&maintains a sustainable econ position, its ability to pursue autonomous economic and foreign policies will become increasingly compromised.A falling dollar is thus a mechanism whereby excessive US borrowing from abroad can be rolled back., it would help to meet a stated goal of world leaders in recent G-20 meetings.
Justprayfirst 2 years ago
Beyond this indirect gain, the most direct effect of a weakened dollar would be to hike the cost of goods imported into the United States and make American goods appear cheaper to the rest of the world. This, over time, would likely ease the pressures for trade protectionism that have increasingly strained U.S. relations with countries like China, Canada, Mexico, and the members of the European Union.
Justprayfirst 2 years ago
Peter is exactly right, you should see the amount of Apartment buildings that are being built in the Los Angeles area. They are sprouting up like weeds, but at the same time so are For Rent signs. They are all over the place. And people keep losing their jobs, moving away, etc, so there are going to be an insanely excessive amount of unoccupied apartments and homes all over the place, and thats just in LA. And things are only going to get worse. Wow, thanks Obama & BIG Government!
enemyartistkristofeR 2 years ago
Schiff says that the economic breakdown started back in 2000, I say late 1999. America is as phony as yourself putting it all on the fallguy, Obama.
metalschooldrill 2 years ago
First - I didn't ask your opinion dumb aussie - so keep it outback where it belings! I am NOT ONLY blaming Obama - I did also mention BIG Government, plus Obama is driving the boat now (or is at least the front man) so yes, he does get the blame - when Bush was in office, he got the blame, he is gone Obama is in, thats the way it works - jerk! I know who the real criminal is, the not-so-federal federal reserve! I am in groups doing all we can to spread the truth about all these criminals!
enemyartistkristofeR 2 years ago
Thanks DR DOOM!!!!!!!!
forthelovefogod 2 years ago
Hey Peter Schiff fans (including myself), check out Mike Shedlock on Kingworld news. He and Peter both correctly called the market crash. The diffrence though is that Mike (or Mish) and he's investments done very well in 2008, Peter got CRUSHED 2008. Mike says China is all hype, and the dollar will rally.
dellwon 2 years ago
Hi Dell. I tried to find how well Mish had done in 2008, but all I could find is the funds in that company he works with/for. (Sorry but I forget the name at the moment) From that I gathered he didn't do well at all actually. If you could provide me with some links it would be appreciated.
What exactly is Mish calling for wrt the dollar index?
TraderSteveR 2 years ago
No stock market crash in 2009? ....Are you SURE about that?
REDEMPTIONthreadz 2 years ago
Peter Schiff is very credible, he was on Glenn Beck's program.
TheRamenAvenger 2 years ago
They will keep propping it up, for as long as they can.
Hoping to pass some of these ridiculous schemes that we can not afford.
I worked hard, like you, now this foolish policiting, pseudo takeover of America is going to take my money?
I do not want to pay for others, houses, healthcare, food, cars, internet, get a job,
work.
Stop voting like an asshole.
obamaareyoukiddingme 2 years ago
Mr. Sunshine gives good economic analysis, but that hasn't much to do with politics or the political office he seeks, sadly.
The nation's governments have morphed into nested labyrinths of criminal enterprises at the federal, state, county & local levels and across all branches, and the Fourth Estate too.
VIDEO: "CNN: The Politics of Planting"
They no longer need citizens, and the peasantry has no problem with their new role as hapless subjects at the receiving end of ever more "free" stuff.
TylerNull 2 years ago
Peter thanks for the wisdom everthing you said is true even when real estate was reasonable upkeep and taxes are a huge expense. On another note did you catch those fools led by the sexy Alexis Glick and her crew all stating how we need another homebuyer stimulus until demand comes back. If they are not shills for the Wall Street crooks then they are endlessly clueless hacks who never learn. Another Stimulus = a more bankrupt Govt and another huge wave of individual and bank defaults
globalwarmingfarce 2 years ago
Clearly the Gov has printed a few Trillion USD -
BUT - over the last 24 months stock holders lost about 15 Trillion USD; homeowners lost equity of about 20Trillion USD.
So my question is . . . Does the USA have MORE currency/wealth over the last 24 months or LESS currency/wealth? And what does that mean to Real Inflation (cost of bread and butter)?
FreeAgain2 2 years ago
you want the answer???
its more ass fucked / fucked
Dkouts57 2 years ago
The brilliant economist Peter Bernholz at the Univ of Basel, Switzerland, said hyperinflation occurs when the govt deficit exceeds 40% of its expenditures. Guess what, the U.S. hit the 40% mark in 2009. Just a few years ago th Swiss Frank was worth only 70 cents, now its virtually at parity with the US Dollar. Defend yourself, buy Gold, don't rent houses.
naggold 2 years ago
His explanation on rent cost is spot on, at least to me. I lost my job in the automotive industry. I saw this coming and I was renting a house for $700 a month. I'm 25 and moved back in with my parents and now the house is for rent for less than I was paying to get someone back in there. And this isn't even the cheapest price in town, I just didn't want a dump. Yes the rents ARE going down in town as more ppl lose their jobs in town. THIS IS REALITY! Thanks Peter.
cheezenug 2 years ago 2
global currency!!! this is how they're going to do it. with a financial "crysis"
sammstein69 2 years ago
Guess what, people... we're fucked.
Dadge42 2 years ago 2
Dadge42
Pardon me, but I beg to differ.
You forgot to add "Royally" :o)
LetTheSCRebelsYell 2 years ago
Fix your camera Peter. Rule of thirds.
tf8252 2 years ago
From the dawn of civilisation people have traded in a free market place, It strikes me that meddling US gov't just can't help themselves they are swimming against an ever stronger economic tide.. Why do they insist on making life so hard for themselves ?? Peter throws them the best advice they're ever going to get everday for free !! Clean your ears out Mr Obama!!
RiteSedFred123 2 years ago 2
civilization*
and the government can never destroy the free market completely... it will go underground to survive if it has to
a good example of that is the black market
elitebanktyranny 2 years ago
Last time i checked it was called supply side economics where the govt becomes the biggest consumer. He's right on the housing glut, there are millions of houses that are empty in every city in america. Ask any realtor how good business is (NOT).
wanshei 2 years ago
You know what I think about his little can artist spill?....
caca.
smilingseal 2 years ago
This comment has received too many negative votes show
If he is so succesfull in the "money" business, why is he asking for your hard earned money "for him" for his own career change....
dont ever give you money "for free" to a guy that "uses other people's moneys to get rich".
It is to the core. Do you really think he loves you man?....Peter loves Peter...he will find your "free money" to make himself "richer" .....not you!!!
smilingseal 2 years ago
I look forward to these 10 minute VBlogs. I for one would be disappointed if you cut them down to 3 minutes. I wish they were longer! :)
fairmaiden541 2 years ago 3
Love the videos Peter....thank you for the time you spend educating Americans....God knows we need it!!!!
TheNRA4ever 2 years ago 6
The idiot about rents:
Vacant homes that cannot sell, actually get rented!!
People who cannot buy, rent!!
He is speaking from both sides of his mouth. this may happen if this...and that may happen if that....SOOOOO....
who gives a fuck, you are not discovering america .....but you sure want "FREE MONEY"...
"notice" how he asks for your "money" at the end? for free!!! what a crook.
smilingseal 2 years ago
I sent him $25 because that was all I could afford. I am trying to buy some freedom from government, and the Federal Reserve's inflation, perhaps you should think about how much you take it in the ass from the FED, or perhaps you'd rather vote for someone that's been bought off by Goldman-Sachs?
WPAJoker 2 years ago
Peter, great video!
Does anyone else notice how ominously Peter says "2009" at the beginning? It's quite an effect, hard not to notice... gives me chills.
kihjin 2 years ago 2
is the 3 day, week up and down in the casino halls of wallstreet, short markets. and the selfish, non-visionary thinking like this moron here, that is hurting our economic system. Now this idiot wants your "free money" so that he can have a new career, (politician)...since he cant make it in rough times in the financial markets. watch your wallet from this guy. and guys like him....he will ask you for "FREE MONEY" ...for "HIM"... not for you.
bla bla bla....what does he know... bla bla
smilingseal 2 years ago
Thank you Mr. Schiff for this much needed information. I really do appreciate this Vlog.
CM
Portland, OR
cherilynmonroe 2 years ago
dont listen peter keep em 10 min long ............these ppl are full of shit if they are trying to say they dont have 10 min out of the day to listen.........
craaaazycarl 2 years ago 2
Please consider taking the advise of making a presentation, keep it SHORT.
Three minutes would be enough. "Leave them wanting more"
Great info. Too large of a demand on time. Thanks
vidguy007 2 years ago
Peter loves to talk lol
vinny1010 2 years ago
He has three or four excellent subjects, which should be several three minute videos instead of one long one.
He wants to be a politician, guess he's practicing. lol
vidguy007 2 years ago
Here in SoCal, seems like 50% of people are taking in roommates. Look on Craigslist & you'll see how many want to rent rooms out. The prices are coming down, I notice, because of all the competition.
alycephoto 2 years ago
This comment has received too many negative votes show
Hey Mr. Schiff, I do not understand how you are now taking aim at gov't tax credits. People do not have to take the tax credits, but I agree, it can lead to more predatory lending which got us into this mess in the first place.
But the real reason we got in this mess was a lack of gov't regulation in Wall Street. If we let the free market work run free, all the want to do is maximize profit for their shareholders. And they would do that by lowering costs. So no, Mr. Schiff, gov't is not all bad
drywater2k 2 years ago
As a landlord in Canada, I think rents will go up. We did not over build, you can only get a mortgage for 70% on a rental and more foreign students and families are coming here to fill empty homes. Also, we have to prepare for the tsunami of Americans that will come to live here after their economy and dollar collapses.
skrtich72 2 years ago
also lots of the huge houses in the US are capable of housing multi generations or families. that can add to the downward pressure in rents you mention
LysSpooner 2 years ago
I just switched my portfolio to more overseas investments with heavy emphasis on the Asian stocks and bonds available. I was invested in all American stocks.
bertly71 2 years ago 3
Hey Peter, you mentioned in your video and in Crash Proof 2.0 that the chinese will stop buying our debt and start purchasing our consumption goods like tv's and used cars. Today there is a report on bloomberg that China is preparing to issue an anti-dumping case on U.S. Cars. What can you tell us about this? What about the cash for clunkers, is the U.S. taking the used cars from the dealerships and sending them over seas? I appreciate your response. Thanks, Brad Feasel
bradfeasel1 2 years ago
bradfeasel1....check out InflationUs on Youtube, most recent video...cash for clunkers (2 parts)
They did an undercover video on what's happening to the cars.
alycephoto 2 years ago
"The economy grew at a 3.5 percent pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes. It was the strongest signal yet the economy entered a new phase of recovery and that the worst recession since the 1930s has ended."
Hey Peter, thanks but it appears the government has got this recession all fixed and cranking. Guess you don't need to run for Senate afterall (just kidding). LOL
aspenmogul 2 years ago 2
thanks Peter! Good Luck with the money bomb.
PestControl02 2 years ago
I would donate if i could. but im having a hard enuff time eating.
we don't just need Peter in the senate. we need many many people like Peter in the senate, and Peter in the WH
Hack and slash buddy, hack and slash
dreamthinker79 2 years ago 3
I would donate too but I'm geographically challenged.
ie Canadian
Paetaor 2 years ago
the only real conclusion is that they are trying to destroy our economy. either that or there completely retarded.
stock up on food, water, guns, drugs, keep your eyes open
dreamthinker79 2 years ago
I once saw a chart of average household expenses of germans during the hyperinflation years in the 1920's. What was interesting to me was for one year the average person spent less than 1% on income on housing. The rest was on food, ect.
drudometkin 2 years ago 7
What we are seeing, I think, is a series of downturns and upturns, followed by more downturns in the markets. Historically, we saw this prior to the Great Crash, when markets went through a series of peaks and valleys before the deluge. Right now, they are just waiting for the US gov't to be completely tapped out. It's all about the timing at this point, waiting for the next upswing to sell into before the next downswing to buy.
bearmare 2 years ago
Thanks for taking the time to do these videos Peter.
darklordofthepith 2 years ago 3
Nice video, lots of sound mind!
VBioreactorBydlo 2 years ago
So when did you change from Schiffreports to Schiffreport I was wondering where you went.
jfcrow1 2 years ago
Fertile productive farmland has been converted by developers into useless unproductive tract housing developments.all over the country.
Pnkbong 2 years ago 3
not to mention the poisoning of the land, by corp farms, with petrolium this, and that
and the corp livestock farms
dreamthinker79 2 years ago
there is organic farming. I always buy organically grown food and I am starting to grow my own vegetables.
At least farm land is producing something. Suburban sprawl that is covering up fertile farm lands produces nothing but very short term profits for a developer while making Americans more dependent on foreign grown produce and foreign oil. Americans hauling their big fat asses 50 miles to work in a big fat SUVs just to live in a wasteful to heat and air condition McMansion is more poisening
Pnkbong 2 years ago
Yeah, the country has been way overbuild.
Blackjack555 2 years ago
Peter, frame your head near the top of the shot, that way you won't look like you're peering over a fence at the camera.
rconley1 2 years ago
This comment has received too many negative votes show
He's trying to hide his man-boobs.
MOPEDBRAD 2 years ago
I can see Washington spin this when rent goes down, Obama will take credit for it.
GenRev1611 2 years ago 2
Yeah, and food prices will go down too. They will substitute mini burgers and pigeon eggs for the meals to make the cpi go down.
panther9mm 2 years ago
Although I'm sure you know the CPI doesn't account for food an fuel in their "inflation rate" calculations....
Nickelodeon2002 2 years ago
More ratings than views. Come on YouTube, try to keep up.
dennist3hmenace 2 years ago 3
Peter, this is so easy to understand. I am disappointed in your book, "crashproof 2.0" I can watch one of your videos here and get this. I read the book and enjoyed it, preaching to the choir. I gave the book to someone who needed it.
How hard is it to understand rent/housing price. dividends/stock price. If the asset can not be justified by income, you are speculating, participating in a ponzi scheme.
I will still buy your next book.
ZullGostnu2 2 years ago 2
Face it. We're fucked.
hrosemd 2 years ago
Schiff, for the win!
jdkbriggs 2 years ago 4
Peter - Great job once again! Just a quick question though..you've continuously mentioned that the U.S. government is basically destroying, for lack of a better word, the economy. Ok, I will buy that. But then, isn't China doing the same thing? I mean the PRC gov't has full control on every aspect of the Chinese economy. Are they also making tons of mistakes? When you say you like Asian equity, do you take the role of the government into account? Thanks!!
tzheng200 2 years ago
I would say he does not account for that risk because he thinks that the US government will confiscate gold. He has said to buy SVM, but China has taken assets from individuals in the past, such as coal mines because they have natural resources. I guess they can take it from their citizens easily, but maybe it is harder to take from foreign investors.
panther9mm 2 years ago
This has been flagged as spam show
I guess we should all be concerned about our future food costs then.
Shaunt1 2 years ago
I heard on CNN today that there will be a third bailout for GMAC or GM or someone over there
OntologicalQuandary 2 years ago
Good video I agree
IWashMyOwnBrain 2 years ago
What a Sicko!
lloyddaroyd 2 years ago
What's Peter Schiff's email address?
Or what's an email address that will get to Peter Schiff?
2528997 2 years ago
Peter lower your camera, you are starting to look like a midget.
truthsabre7 2 years ago
I think you should start out the videos, "Hey everybody its Peter Schiff and I'm a badass." thats all you have to say, nothing else. lol great info and good work.
MuayThaiGuy93 2 years ago 2
Hey Peter...Great Video! however I want to play the role of devil's advocate for a minute. what if we do get a repeat of 2008 where the world markets crash, we go into a global depression, and deflation hits, sending the dollar soaring. given all the money printed that has occurred that would seem impossible, but inflation can only occur if that money gets out into the system. all this bailout money is just sitting on banks' balance sheets, its not being lent out. the money supply is contracting
ctrader09 2 years ago
It sure would be great if our Government stopped throwing our money at financial institutions in order to make sure asset and investment "prices" don't reset to a natural level.
Taking our money to make our lives more expensive is just plain wrong.
It's an obvious statement I know, but interesting how it's avoided with such vigor. Anybody who tells me my Government works for me or is on the side of the people is either stupid, or a liar.
cmstyz 2 years ago 6
lol, remember when Schiff said the only thing dumber than "Cash for Clunkers" would be "Dough for Dumps"? Looks like the Gov saw that video. They must not have picked up on the sarcasm.
Bishop153 2 years ago
Hey Peter, Thanks for the educational videos! I would like to hear your thoughts on the huge downward move in gold and silver this week. Do you think this will continue? or is now a good time to add to our position? I know long term the price is going way way up, but do you think there is a lot of room to fall in the near term? Thanks!
lewisfiecke 2 years ago
The homebuyer's credit is a direct transfer of wealth from people who have payed their mortgages and renters, to people buying homes. Homebuyer's credit = theft.
Is there anything left not subsidized?
alanhowitzer 2 years ago 5
This is a sad moment in America
ceasey0xoogurl 2 years ago 5
Americans just don't seem to get-it. You're right though, rents are dropping hard. In some area's, you can name your price! We sold our big house. Why? Because it was overpriced, and we didn't own it. The BANK owned our home. We are now renting a nicer home, for half of what our mortgage payment was. Not to mention, no more expensive repairs!
aspenmogul 2 years ago 2
Wow Aspen, that is unreal. Good for you. We've owned our home for a long time now, and we've not been yet hit by a housing bust. There is no way you could rent our home for even close to what the costs are. That tells me we need to come down as home prices are still at a premium. I fear a smack-down, but at the same time I now have cost effective living without answering to anyone and every year we pull coin out to invest, and pay that off during the year as if it was a regular mort. payment.
TraderSteveR 2 years ago
Peter is the Man!! I really enjoy all your videos! You're last two videos were paticularly interesting :)
Thanks you!!
BlueTunisia 2 years ago
Very well explained. I think that answers even more questions. Awesome job Peter! I really hope you win! I'm not in CT, but if Peter wins, it's like a victory for us all.
doctorjn 2 years ago
Those who would give up monetary soundness to purchase a little temporary credit, deserve neither soundness nor credibility.
loosely based on a quote by Benjamin Franklin
!SPREAD THE WORD!
joeseth05 2 years ago
Why wont this video play?
sansez 2 years ago
I aint gotz no moniez but if I did I would donate to your campaign Mr. Schiff
Trying to get a jobless recovery job here and preserve equity...
Whoah God only knows, God makes his plan
The information's unavailable to the mortal man
We're workin' our jobs, collect our pay
Believe we're gliding down the highway, when in fact we're slip sliding away
Credits to Simon & Garfunkel
Oh and to you as well Peter, 5*'s as usual
CTOL1 2 years ago
Peter,
We are leasing our space from God, lucky to be here. At most it's a 100yr lease, Then "The gig is up!"
ad2181 2 years ago
You see!, even God is in favor of renting! lol. Now take that from a higher power than Peter :-)
BTW, can I get a guarantee on that 100 year lease?, because I am pretty sure I'm going to get taken for a few decades of overpayment.
TraderSteveR 2 years ago
I believe the tax rule says the credit is for buyers who have not owned their primary home within 3 years
aran08504 2 years ago
What happen to investment properties?
If the home owner counting on repaying their mortgage from the rental income. If rental price drop and interest rate rise, the home owner won't be able to maintain their investment property. Which mean it'll go to foreclosure. That also mean you as the renter of the property will lose your rental home.
chimpanchu 2 years ago
Hey Peter, ive heard alot of great info from you on the american economy but no mention of the decline in oil production, the real reason we're in recession. Why have you not mentioned peak oil in any video or television appearance??
CASTILLOM1 2 years ago
I think a better answer to the question asked to Peter is this:
Housing prices were already super inflated by the housing boom. Now that it has popped, even the massive amount of inflation being created cannot keep the overinflated housing market from deflating. At some point, housing prices will hit a bottom and at that point, inflation will be the only remaining force, and drive house prices higher.
Dziaji 2 years ago
I am not sure about your argument that rent will go down. I imagine taxes will go up and that includes property taxes. Landlord may not have a choice but to pass on that expense to the renter.
lindabebe835 2 years ago
Hey Peter I really enjoyed the Real Estate 101 video. Can you make more 101 videos? Like....
Minimum Wage 101
Chinese stocks 101
Income Taxes 101
Labor Unions 101
Bonds 101 (I personally don't fully understand them)
ciottini 2 years ago 5
Thanks again, professor!
alphabeets 2 years ago
hyperinflation will affect the price of food mostly and fuels. The germans in the Weimar Republic paid more for food than anything else.
SignatureMill 2 years ago 2
Hasn't "Owned" a home in 3 years. We didn't qualify because we owned a home 3 years ago. We bought it 8 years ago. I think Peter is completely mistaken , or am I misinformed by our tax lady.
askmeif 2 years ago
i have been looking into buying a home and i have read the stipulations to the tax credit, and if i remember right (big IF) it applies to not having purchased a home in the last 3 years, not owning, do your own due diligence you can find the requirements to recieve the tax credit
Kingratass 2 years ago
seems everytime the DOW plummets, Dollar rises, Commodities tank, will this continue??, or will we see DOW 40K and Gold 5K, otherwise I think it's DOW 5000/Gold 800, and Dollar in the high 80's back again, but what do I know, just a discruntles Silver owner
chromedreamz 2 years ago
Schiff is a long term investor which means you should never sell a stock. Just like words of wisdom from Mr. Buffet. And since you never have to sell to use the money, you must start out a rich guy since that is excess money.
panther9mm 2 years ago
This has been flagged as spam show
God help us
scanlonized 2 years ago
Arrest all those crooks in Washington,and on Wall St!!!!!
They're bleeding us dry.
God help us all.
summerbreaze26 2 years ago 6
Thank you.
deadman12078 2 years ago 2
...And as CNBC sucks the last of the retail investors back into the market, we see market sell-off... Right on cue. Business as usual.
tickhound 2 years ago
Pacific Invest Management Company released a newsletter a couple days ago saying that the 'Disorderly Decline of the Dollar cannot be ruled out.' Hmmm!
PIMCO owns the largest bond fund if I'm thinking correctly.
Adahondeayenh 2 years ago
excellent video, yet again!
theslimeylimey 2 years ago
I like how Peter cuts through all the bs and disinformation and gets to the facts. He will be a great Senator or President! We need to hear the truth.
ronheri 2 years ago 8
Yes, he does. But for that reason, he will never take an oath of office.
VyseLegend 2 years ago
It seems to me that rather than dicking around with influencing people's purchasing habits with tax credits, why don't they just cut taxes across the board (and spending)! Talk about a stimulus! Image getting 10% of YOUR money added to your paycheck.
I don't know why he talks about hyper-inflation, it's not going to happen until we lose reserve currency status- years away.
Is there anything new with the campaign besides this bomb? I haven't seen much press. He had more BEFORE he was running.
christo930 2 years ago
Reserve currency status is going away day by day. Have you not noticed?
Anythingwilldo41 2 years ago
YES! We are going to lose the reserve currency status, but it will most likely take 5-10 years before the central banks get everything switched to where they will no longer protect the dollar. Right now they have a HUGE incentive to keep the dollar afloat. Bernanke may KNOW that the dollar is going to be dropped no matter what he does and wants to get one last hurrah out of it.
christo930 2 years ago 2
America has already lost the RESERVE CURRENCY STANDARD...Where the hell have you been?
SAMSON12321 2 years ago
What are you talking about? Try buying oil on the open market without dollars.
Sure, Nixon closed the gold window, but the dollar is still the reserve currency, at least defacto.
christo930 2 years ago 3
I despise people that make up stuff out of thin air, IE you SAMSON12321.
zetsway5000 2 years ago
Yep.
It will continue to lose buying power however until that day comes.
Anythingwilldo41 2 years ago
Peter, WE LOVE YOU!
spol07 2 years ago 6
Lol, I tried to explain the same thing to my landlord when the lease on my apartment was up last month. He wasn't going to budge though. Would have cost me more to move than the amount my rent went up. Oh well.
YZBot 2 years ago
There are many other factors Schiff fails to mention when it comes to housing.
panther9mm 2 years ago
Peter , The Logic here is "We won the House, We Write the Bill " speakin' of bills........
gofucoffee 2 years ago
Peter is correct. Under the Wiemar hyperinflation......rent only accounted for 2% of the family budget after everything else went through the roof.
nikto2000 2 years ago 2
I can tell you read Rich Dad Poor Dad, Peter. Buying a house is not an investment and thats exactly what that book said!
33ItHappens 2 years ago
If we can't get congress neutered next Nov we are screwed forever. Maybe too late we already hit the iceberg and the lower compartments are flooding. I think there will be some hyper deflation in retail till Jan 1st week then retail property collapses at least 10-20. or more percent.
vashguud 2 years ago
Keep it up Peter! I love your VLOGS
bajoverga 2 years ago 4
Another Questions could be, WHO ACTUALLY OWNS THESE HOUSES THAT ARE BEING RENTED? Centry 21 and Remax are just "property managers". The real deal is, behind MILLIONS of uncounted fraudulent foreclosres, these rental properties are owned by the bailout recipients who fucked-off $23.7 Trillion Tarp dollars homeowners never got. The true amount of the "glut" of housed is being hidden effectivly hiding the true damge to home values. Give thanks to FANNIE, FREDDIE and MERS and the bailout recipients.
eyewitness043 2 years ago
GMAC is going to get a third bailout...
redxii1234 2 years ago
lol, yup, gotta love it.
I have to admit, I bought a pile of CDN denominated GMAC debt and made a nice penny (Canadian penny) off of it from 2008. Stupid politicians. They did exactly what I thought,..of course I was there to take more than my share. All I can say is, you know they're gonna do the worst thing possible, so start betting that way and make money off of it. For the record, I pulled the GMAC trade off the board today. Nothing but crumbs left. 2 months left to maturity anyway. Done.
TraderSteveR 2 years ago
What does that mean you pulled it off the board today?
BMac7773 2 years ago
Hi BMac, I sold it all.
TraderSteveR 2 years ago
Don't forget BMac.....who owned GMAC? 49% GM, and 51% Cerberus - the worst pile of clowns I have ever seen under one roof. Those guys have some funny money coming in, because they lose more of it on investments than any company I know. Of course their board is full of high-profile well connected US politicans so you know they're going to be taken care of. Then there's the US Icon, GM.
A total disaster for ever.
You ask yourself, what is the dumbest thing the Gov't could do for the taxpayers?
TraderSteveR 2 years ago
tax credits to upgrade houses in this economy is a criminally negligent policy.
MarcusCMarcellus 2 years ago 5
Then again Marcus , With All the Foxes watchn' the hen House......who's gonna "report " that one..
NBC ? hahahahahahahahahahahaahaha!!!!
gofucoffee 2 years ago
this video is one of the best ones he has made, and he has made a lot of amazing videos. this guy definatly turns a light bulb on in my head everytime he brings up a valid point. BUY GOLD PEOPLE - BUY GOLD. Don't put your money into a savings account for GODS SAKE!!!!!
qualm43 2 years ago
The market will probably go to DOW 20k before ever visiting DOW 7k again...
megahoed 2 years ago
\/\/hy?
spol07 2 years ago
why not?
megahoed 2 years ago
Hey Peter, I agree with the vast majority of what you say. However, I find it very difficult to believe that the USA economy will be the only one to struggle - including China (who has a bubble of their own)
jasonw719 2 years ago
True, but China can fall back on their productivity by just purchasing it themselves. That's the whole Schiff Survivor (China edition) Analogy.
eyewitness043 2 years ago 2
You have to remember China still makes STUFF. So if everything goes to hell would you rather be exposed to China's producer economy that still makes stuff or America's service economy full of useless paper.
ciottini 2 years ago 2
Whether China has a bubble or not isn't as material as it is with USA.
China has savings and is a producing economy.
Bankingcartel 2 years ago 6
Don't question Peter. Go buy some gold, and get yourself a tent. Everybody is going to be homeless soon.
panther9mm 2 years ago
that doesn't make any sense, because that imply that everyone is renting and even if you imply that somebody owns the property, i.e landlord.
hatersfate2 2 years ago
You have to pay property tax, and that is the rent. I know exactly what's going to happen. We need to move to the mid-west so we can chase buffaloe.
panther9mm 2 years ago
if no one can pay property tax then, the federal government wouldn't exist and be able to forcing you to leave your home.
hatersfate2 2 years ago
The government will have more power because people will be afraid, and they have weapons. Hurry, you must buy all the gold you can. So when they confiscate the gold, you can get some compensation for survival when they send you to the fema camps. I know exactly what's going to happen.
panther9mm 2 years ago
you don't know what your talking about. You absolute thinking will lead you to loose a lot of money. If the dollar becomes worthless, people will still trade goods and services. and you probably don't know anything about purchasing gold either
hatersfate2 2 years ago
I emptied my savings account and bought 1 ounce of gold and 36 ounces of silver. You need to be more realistic. You don't know how bad the situation is. I know exactly what's going to happen. If push comes to shove, I won't pay my landlord for as long as I can.
panther9mm 2 years ago
I bought 600 ounces of silver in 2004 and own three gold companies since 04 also, i know what im talking about. I sold one bar early this year when it was up, its not that simply to sell. It takes time and time has value.
hatersfate2 2 years ago
If I could affoard more, I would, but my credit cards are near the limit.
panther9mm 2 years ago
its not going to go that high, because peter schiff is going into office and the government will eventually fix it.
hatersfate2 2 years ago
Look, I only need Peter to pump the gold prices so I can make money when it goes up. Everyday it goes down, I get more and more angry. I don't want him bringing my gold prices down.
panther9mm 2 years ago
look you don't make money when gold goes up, cause everything is more expensive, you just don't lose money. Which is why i invest in gold.
If you want to make money, buy call options and go long on gold.
hatersfate2 2 years ago 2
buffaloe... must be a special breed of buffalo...? :-)
1matthewung 2 years ago
We gonna need to eat something. If we don't catch them, maybe they can leave us a chocolate pie to eat.
panther9mm 2 years ago
Thanks Peter!
johnnyfenger 2 years ago 2
I wanna be like you when I grow up.
marslaunchpad 2 years ago 5
This comment has received too many negative votes show
Peter Schiff= Perma-bear!!!
WizardKing78 2 years ago
Comment removed
tommy6238 2 years ago
Are you a Zionist? What is your opinion on Israel?
chaos31904 2 years ago
what do you mean by zionist? someone who supports that the nation of Israel deserving to exist or someone who supports the protocals of zion?
zeusvalentine 2 years ago