February 2006 Peter Schiff U.S. Bubble Economy Part 5 of 5

[gus19668]

Peter Schiff  is the man )))

[inthebluescrossroad]

boy am i glad i saved all those yuan when i was in the navy hehe

[WelfareRobot]

Hmm? So what do you propose is the engine of economic growth, if not self-interest? And who do you think will better provide jobs for others, Donald Trump or your local bum? There's a saying: "I've never received a paycheck from a poor man". The evil, evil rich people create jobs and also pay the majority of income tax, which finances transfer payments (welfare).

[gizmo2084]

You're right. Economic growth is created by self-interests and capitalism. But the problem is that it can be used for only short-term growth. It HAS to keep growing. But it's not sustainable. And because the financiers/fed know this, they create "stimulus" packages that create fake wealth (fiat/speculation). And because one is willing to say, "no." Then crashes happen.

[2freaky4me]

"Preserve the Wealth" of the ALREADY RICH?...These Fuckers and their GREED are the reason We "Wage-Earners" are going to Suffer..So the Rich, yet again, get another break. As if the Bush Administration didn't cut them enough Tax breaks, Shelters and Subsidies. They are Rich because of Bush and His Cronies.How amusing it will be for them to WATCH While the Rest of Us Eat Each Other while they dine on Delicacies...A MAJOR REVOLUTION NEEDS TO TAKE PLACE!

[endlessmountain]

Peter is an absolute genius!

[geralddelapascua]

just shows what a good call it was that the dollar will fall if he made this call in Jan 2006

[codediporpal]

Spot on. Except for the inflation part. Energy & agricultural prices are going up in China and Japan too, so it's not a US purchasing power problem. I think deflation is more likely.

[dieonyourfeetDEC16]

i don't know if you're aware that Chinese Yuan is pegged to the US dollar, so yes the US is exporting its inflation all over the world. US is the biggest engine of inflation.

[mrchekky]

silver is a better deal.

Dick Cheney..... before he Dicks you!

[He101A]

Silver gained a lot from June 2007 to March 2008. Silver was like $12.00/ounce back in June 2007, and now it is about $17.95/ounce. That is a 49.5% gain. Gold was like $650/ounce in June of 2007, and now it is about $935/ounce. That is about a 43.8% gain in 1 year!

[vendor72]

gold is now $930 an ounce and rising. What will it be in another two years? $1200 ? $1500 ? $2000 ? who knows but it ant going down anytime soon.

[BlueEagle8]

He said gold is at $570/ounce. This must have been recorded in Jan 2006.

[rubenximenes]

Watch it unfold in a "capitalist" economy near you...

[Eszekial]

The US isn't a capitalist economy anymore.

[jbryant13]

You're right - it's socialism for the rich. Profit is private for the rich and the risk is socialized in the stock market.

[john5246]

Very well said!

[MANofINACTION]

Isn't socialism for the rich just called fascism?