Rising global stock markets and proposed tax code changes

[desperatefight]

I'm just looking at the "peace statue" in the book shelf.

[ALTERED13TH]

The U.S. economy is actually headed into a very serious depression. From the year 2000 the Dow has lost 39% which is close to the loss of 42% for the decade of the Great Depression. Trade is also down to Great Depression levels and industrial production for the past nine months is in a decline similar to the nine months after 1929. This calamity has only just begun. Besides, the market has been tanking the last few days.

[litetheory]

Peter, you SHOULD be the Chief US economic adviser.

[thirty2ncountin]

Though I agree, advising doesn't necessarily mean making policy. No politician will ever do anything that will collapse the economy, even if it was for the best.

[Perceiving]

Very interesting (Scary) stuff about burden of proof!! Did Obama study law to figure out how to take away individual rights? Perhaps he believes that rights should be given to a select group of people and taken away from others. Time will surely tell and we won't have to wait too long at this rate of change.

[ncurran1987]

I only got onto this guy recently and he's pretty cool. I'm beginning to love him more and more.

[btbking]

you da man

[RAMKING61]

Nobody mentions that the dollar(DXY) and the euro(FXE) go in opposite directions every single hour of every single business day.

[at1212b]

Hahah, this guy is amazing... just seeing through all the noise.

[greychops]

Thanks for doing these!

[gsrxx420xx]

obama sucks, democrats suck, republicans suck, END THE DAMN FED!!! HR 1207

[jckjti49]

We all need to work together to stop the Federal Reserve from creating hyperinflation. Read the articles and signup for the free newsletter at: Inflation . us

[kooshchamp]

you keep me goin mr. Schiff.

[drewd1987]

Peter, are you scared to talk about the money masters who own the FED? Expose them! Talk about what Andrew Jackson did to them when they tried to take over America!

[tretoud]

He's not elitist, he is for Free Market Capitalism. If he was elitist he would basically not be saying what he has been.

[truthinourtime]

As always a great video Mr. Schiff!

[Zile77]

Leftists are all about leveling the playing field to their own advantage. This time they've gone too far, and will literally kill America if they're not stopped.

[vainamoinen17]

Love Peter's investment advice. I always listen to his radio show but... anyone else finding that he is sounding more elitist as time goes on. I like the idea of smaller government but Peter is always complaining about how the government is raising taxes on the rich and now hes whining about the government's attempt to stop tax havens. There is a trend of the rich getting richer and the poor getting poorer and Schiff always seems to support policies that continue or accelerate this trend.

[jfish147]

no he does not sound elitist. he sounds pissed. the poor are getting poorer because of the government involvement in the economy. this country is a shithole now and crazy n*g*e* obama is leading us straight there.

[dforslun]

try not to let your racism leak out during unrelated discussions

[jfish147]

I am not racist. Obama is completely fucking useless. he defines it perfectly. big dependence on government, still living in government housing (ha), extreme tax enforcement now. Fuck this guy.

[FreemanOftheMind]

At around the 5 minute mark he talks about "offshore" activity. What he doesn't say is who lead the charge for free trade agreements offshore?? Who made it possible for cheap labour in offshore areas making it impossible for domestic manufacturing to compete? These conditions have been manufactured deliberately and the results are deliberate too. WTO, World Bank, IMF and subsequent US fiscal managers are to blame and they should be locked up. They buggered the economies they went into to

[dylan14570]

OK...FIAT...we've all heard the name...is the second largest agricultural equipment manufacturer in the world. Don't expect to have more domestic cars coming out of the auto plants.....commodities----agri­culture.

[fjaos633]

Peter Schiff is awesome because he knows if you don't prepare for hyperinflation you will soon be broke. Read the articles and signup for the free newsletter at: Inflation . us

[thefayed]

You have been reading too much from Milton Friedman. money supply and consumer inflation have not been linked for years. Moreover it depends how you define hyperinflation. 20%-30% a year for many years is realistic and could be considered hyperinflation. However inflation at over 100% pa is very unrealistic.

[powerbunZ]

You've been reading too much J.M. Keynes: First off, inflation is an increase in the currency supply (inflating means expanding). Rising prices are NOT inflation; they are a result of it.

Sure, there's been a disconnect between money supply growth and prices because much of the money is held by foreign central banks. If they dump the dollar, a tidal wave of fiat money will flood the United States, and prices will rise fast. This, plus recent unprecedented FED printing = disaster.

[thefayed]

Yes i agree with your first paragraph. Technically `inflation` is just an increase in money supply. However when people actually yes inflation they usually mean consumer inflation.

It is a fact to say that increases in money supply have not always led to increse in consumer inflation, it may or may not this time. Yes `IF` they dump the dollar, i am glad you have admitted this is just an if. I live outside the US, it is unbelievable how much confidence foriegn investors have in the dollar.

[semicomer]

I think Peter needs to reduce his stomach acid. He always tries hard to calm his acid down during his speech.

[quittingtomorrow]

what dyu mean.

[njThaze]

I liked the ham analogy. I think it was chosen to point out the absurdity of obama's argument. the presidency allows the arguer to make arguments from authority. this allows the arguer the freedom to not base his argument on logic or reason because the president wields authority, more than the constitution stipulates. this is dangerous, changing the burden of proof from the state to the individual is an advance of tyranny.obama's quote: "if you do not comply we will assue you are hiding $"

[CivitasUltraAporia]

Prove you haven't eaten a ham sandwich? That one's easy Peter, you're a jew!

[germana00]

CivitasUltraAporia wrote:

"Prove you haven't eaten a ham sandwich? That one's easy Peter, you're a jew!"

The case of the "ham sandwich" might not be as easy to prove as you think. There are a lot of people within the gentile population who are smart enough to know that pigs were not made for human consumption. Read about it--the info is out there.

[CivitasUltraAporia]

it was just a joke lol, I don't eat much pork either, only some ribs every once in a while

[digitallando]

Why not? They taste SO good.

[jzmdi493]

Peter Schiff is the man. Massive inflation is coming that will wipe out the US dollar and make all Americans broke. I suggest you guys read the articles and signup for the free newsletter at: Inflation . us

[myrelative]

sorry peter, but that's BS.

ok, there may be some asset inflation under way because of all the added liquidity, without any improving fundamentals.

but that does NOT mean that people are loosing their trust in dollars RIGHT NOW.

on other occasions you always use gold and silver to measure value, this time they both contradict your thesis in this video.

I said it before, you don't gain any credibility by shouting THE DOLLAR IS BEING DROPPED RIGHT NOW on every small market movement.

[escapethecollapse]

How does gold and silver contradict Schiff's thesis?

[myrelative]

equities are also rising against gold right now. schiff's thesis that the stock rally is driven by people losing trust in the dollar.

there is no evidence for that. stocks are also rising and against gold, agriculture, consumer prices. against pretty much everything that has value.

I'm not saying that US stock fundamentals are improving. but this is probably a typical case of asset inflation because of excess liquidity.

no major dollar depreciation so far.

(not saying it won't happen)

[snoopyflick]

Gold and silver prices are also still artificially low due to many central banks selling gold and silver.

[myrelative]

that's been the case before and after the stock rally, and probably will be the case for years and maybe decades to come.

[fungulotualatuarazza]

thanks peter, your advice is the only thing of value for me in these times

[MooseOfReason]

Careful, Peter. Kudlow staffers might be watching your vlogs. Hahahaha.

[HeWhoPawns]

I don't know what I'm laughing harder about, the ham sandwich, or the idea that anyone thinks the housing market has reached the bottom of its slide.

[Voy2378]

Nice video. I also liked the ham story. :)

[seethepatterns]

would someone put this man in charge of the economy already. him telling me this doesn't do enough.

[Epic878787]

The ham sandwich story needed to be much more entertaining. Work on it!

I think the laws will change very soon which make it impossible for Americans to move assets off shore. Peter and Co. better get working on this today.

[vijussil]

If you are seeking entertainment you are looking in the wrong place.

[xearther]

Not that I would presume to speak for Epic878787, I think what he means is that he perceives what others perceive. Peter Schiff has one helluva sense of humor. How could you not and keep your sanity while speaking day after day with drooling "Homers" that can't see beyond their next economic doughnut?

The man keeps his cool where others would have lost it long ago. He's GOT to be laughing inside. There's no other way to survive the insanity that surrounds us.

[xearther]

I think Peter, Tom Woods and Glenn Hubbard would make one helluva Vegas lounge act: Bring Lew Rockwell, Doug Casey (and our special guest Dr. Ron Paul) down from the audience and you'd have a "Mises Rat Pack".

Oh, those wacky Austrians! There they go again! Silver and gold! Silver and gold! That's all they ever think of!

[Ovalshine]

Ever since Peter had that accident while he was juggling three chainsaws on a unicycle, he realized that being entertaining wasn't worth it.

[chunstiger]

More truth pron. Yes!

[DNATS]

Thanks for the update Mr. Schiff. I also saw a similar piece of Obama's regulating MNC companies on BBC Business. I though to myself, boy, is the U.S going to be lonely in the next couple years when all the business move out of the States to avoid all the regulations.

[jzmdi493]

Peter Schiff is right. Either prepare for hyperinflation now or you will soon be broke. Read the articles and signup for the free newsletter at: Inflation . us

[ifitaintbaroque]

Peter Schiff is brilliant!

[dylan14570]

Why does everyone keep pointing out pending home sales? (Kudlow tonight). Everyone wants to buy homes at the great prices now, hence many pending home sales....how many "closed" home sales...haven't heard that stat reported by the media.

[BlueSkies360]

How about taxing those 40% that don't pay any taxes?

[phatcheck]

tax infants? really?

[john5246]

Why invest in China if they are communists? Don't you think this will all get changed by 2012 because we'll elect some Regan-esque candidate into office?

[0cyris]

China is becoming more free while we continue to lose freedom.

[odin422]

though it is not fair to say the those rates are equal

[vipero00]

What you need to understand is that China now has a market that is freer than the US markets. Although there politics are more restrictive there markets are not.

Didn't you hear that Jab Bush wants to abandon Regan to become "forward thinking"?

[Ovalshine]

Jeb Bush is the guy's name. Jab Bush is something I'd like to do. :-)

[Ovalshine]

Yes, it's a joke, BTW, to any secret service reading my previous comment. I know how paranoid they get.

[DrB3nny]

I want to adopt peter, and make him a belgian.

What form do i need to fill in ?