Please read the WSJ piece on this guys brother Andrew Schiff. Keep in mind, his father is in jail for tax evasion. In the piece, Schiff says his $350,000 salary just isn’t enough. “I feel stuck,” he told Bloomberg. “I can’t imagine what I’m going to do,” Schiff told Bloomberg.
SO LET ME GET THIS STRAIGHT U MAKE 350K A YEAR BY PRODUCING LITERALLY NOTHING TO SOCIETY. UR BITCHIN ABOUT NOT HAVING A DISHWASHER AND A DRIVER AND A PENTHOUSE. BUT A 50% CUT IN MINIMUM WAGE FOR GREEKS ISNT ENOUGH. STFU
The bottom line is simple! The Demos & Repubs are the wings that keep the US Bird of Prey (Industrial Military Complex) aggressively flying all over the world for profit. If a country doesn't accept our corporations/military within their boundary, they become our enemy. So (with the exception of Ron Paul), it doesn't matter which wing wins the election, nothing will change. Both wings want to keep Ron Paul out of the race. I won't vote unless Ron Paul is in the election. He is not corruptible.
@1rafa2 Do you know that Christianity is correct? The world around us reveals that G-d DOES exist, and the historical evidence reveals that Jesus Christ really did come to this earth and there is overwhelming evidence that Jesus Christ really did physically rise from the dead. Jesus is coming again and the signs of the end times that were foretold in the Bible are coming to pass.
The republican party is as big a sell out as the democrats. I thought Schiff would have a better understanding of that reality. Republicans are not for capitalism, they are for controlled markets that benefit their cronies. They are for war mongering, fascism & against the constitituion. You need only look at who voted for the NDAA, it was both parties that passed that obscene assasination of the constitution. Look at their suppression of Ron Paul who DOES stand for free markets & liberty
@dishesdealer417 The Republicans are not perfect, but they have done a HELL of a lot better than democrats. IN GENERAL, republicans are for capitalism and market deregulation. That "war-mongering & fascism" rhetoric you're pushing is just regurgitated liberal propaganda. The claim that NDAA allows indefinite detention of US citizens is false... Ron Paul is running on the idea that only he is perfect and uncompromising, which we know is all going down out the window if he ever becomes president.
@OddRobb No way...Ron Paul is completely in corruptible, take 10 minutes out of your day & look him up on the web/YouTube. He is 100% genuine & consistent! The current Republicans nominees are just slightly less of a turd than what we have right now. Neither of them except for Ron Paul is actually going to cut spending, cut Gov't, ofr change foreign policy in any significant way.
@moybutter You say that now, but look at every single president in the history of the U.S. At some point in office, they were forced to go against their ideology for the sake of compromise. He touts his "incorruptable" record, but how many of the ~800 bills he sponsored actually went somewhere? A president is delegated few powers, so he has to be able to pick and win his battles. Ron Paul is capable of neither. Also, his foreign policy is on the borderline of pure absurdity.
@OddRobb I can understand why it would be hard to believe but if u look at his record, has never voted for unbalanced budget or anythig unconstitional, he gives a portion of his salary back to the US Treasury, he even wants to reduce his own pay to about $39k (the average persons salary) per year if he were President. He's a man of integrity & principle & he's been preaching the same messagein office 20+ plus years! He's real. I don't 100% agree with RP's foreign policy but our own...
@moybutter debt & fiscal situation is a much greater threat to our national security than some 3rd world country that "might" have a single nuke that has no capability of striking us whatsoever. The threat of Iran is overrated just like Iraq was.
1. Gold & Silver (G&S) are NOT investments; just a store a purchasing power. Convert your Dollars into G&S to preserve your purchasing power (before the central banks & the sovereign wealth funds put on a run against the dollar by buying G&S).
2. Buy and hold rental properties for low/modest income tenants with long-term fixed rate no balloon debt (FHA is great).
3. When the dollar crashes and G&S skyrocket, cash out some of your G&S to pay off your debt with debased bernanke bucks!
@UltimateBargains About point 2 & 3. That is my plan. You think silver will go up enough to cash in and pay off loans on property? I also think this could happen. But I think it could still be 5 to 10 years off, or another war or two away. And what happens to the dollar if the euro collapses? What sources are you listening to. thx
@tayronachan All fiat currencies are rooted in the US Dollar as the reserve currency. If the Euro crashes that means the USD has also collapsed. The US Dollar is a debt instrument: "Federal Reserve NOTE" & "Legal tender for all debts public and private." When the fiat currencies collapse, the economy will revert to Gold & Silver & barter. I read Mike Maloney "Guide to Investing in Gold & Silver" (GoldSilver;com). Buy rental properties with cash flow to buy G&S.
Big record labels are in the pursuit of shutting down music and video sharing sites because of piracy, the government should be in heavy pursuit in shutting down websites like Elance because they facilitate and simplify outsourcing IT work off-shore and cut deeply into the IT job market in North America. Outsourcing is like stealing from artists and should be banned!
@SuperFreeKii I do freelance writing through Elance, and I'm an American. It isn't exclusively for people overseas; in fact, often times, employers state that they prefer native English speakers. The way it works is a job is posted by an employer. Anyone interested in doing the job submits a proposal. Based on your experience and willing wage, the employer makes a decision. It's a great system, and I've had a lot of luck with it. It's an example of how effective a free market is.
You lost me when you listed "freedom" among the rigid values republicans cling to. Not that they don't, but that the term is meaningless. What are you really trying to say?
@koboricci In a nutshell America (and much of the world seeing as our FRN are the world currency) are living in vastly large world of credit that isn't backed by hardly anything. There will inevitably be a huge (think astronomic black hole) market correction when this funny money bubble pops. If you want to preserver your wealth, assuming your able to save FRN, think about purchasing gold or silver. Every fiat currency has failed. The FRN is no exception either. It's a matter of time, not if.
Look obama is super smart and is trying hard. He is a good family man, hhahahahaha- I couldnt keep going -I wouldnt hire Obama to write my lease- he seems so profoundly, unalterably stupid. Let me hear him give a 5 minute speech on some area of the law, he is supposed to be a fantastic lawyer. His explanations on all topics are on a 3rd grade level and his decision-making buttresses that.
the biggest problem the economy faces is that 20% of people are in banking, government, goldman sachs, paper shuffling... basically activies that are of no real benefit to the economy and exist only on account of scamming money out of the productive economy.
In a nutshell, that is the problem. Bernanke, for instance, needs to get a real job instead of pretending to know what ails the economy. He's really just doing the bidding of his cronies the banks while pretending to "help" society.
@orangedac Secure your assets. gold & Silver. Silver is more affordable. Slowly purchase 90 percent silver coins (90 percent silver quarters, other 90% silver coins.) and American Eagle silver coins. Aswell as copper bullion. Silver & Gold mining stocks. Other secure stock investment including agriculture (since, even if we collapse completely, we will still need to eat.)
the gold & silver trade is already very crowded. too many people buying thinking its headed to the moon. the whole commodity bandwagon is very crowded. that's why i've dropped out of it.
i still keep physical gold and will do so for the rest of my life just in case i'm wrong. but i don't think i'm going to get rich off it.
@orangedac You aint seen nothing yet in the silver market. When the dollar collapses. THEN you can say it's getting crowded. People are still asleep to gold and silver. Some people even think they are bubbles. But there is nothing to pop.
that's what everyone i meet buying gold/silver seems to think. everyone is thinking its headed for the moon. maybe its headed higher who knows. but there comes a point in every investment where it sells off and the majority go over the waterfall before they know it.
i don't know where its headed. i'm not selling my physical gold, but for now i'm not buying any more either. if i were to buy, i'd buy mining shares. they have done rather poorly compared to the metal price.
Love Peter. But many times the american worker is not paid to much. I dont see how american workers are supposed to compete with a third world minimum wage (globilization=cheap labor supply) and survive in an american environment. thats importing poverty. The prices rise while the worker gets squeezed for ever growing corp. profits. I know this is over-simplified, obiously there is too much distortion in the markets to begin with. hell, the profit margins are a distortion of the markets.
@naadabindu One only has to wonder how long the Chinese worker will continue to work for a $1 per hour, one day these workers will demand better pay. How will this affect their economy? On the other hand I don't see how American auto-manufacturors can still afford to pay people $100k per year to work on the line...no business can survive with overpaid staff. I suppose we live in interesting times.
The irony here is......republicans always like to credit the previous administration for our current state. Times were good when Clinton was in office; give the credit to Reagan and Bush. Times were bad when G.W. Bush was in office; blame Clinton. Times are bad when Obama is in office; blame.......wait......Obama????
@murfdog19 Communist??? You are truly showing your ignorance!!! Its 2012 you should know that both parties consist of the elite who want to bankrupt this country and form a one world govt. TURN FOX NEWS OFF AND PAY ATTENTION IDIOT!!!
I'm beginning to like the president. I begin to think the people of this country have it pretty good. Things are getting better. It was going bad for 7 years but Its not easy being president. However I can't see those that are running as president. Its as thou they don't know how to connect with most of the people. I don't need to hear how to insult someone I need to hear what needs to be done to make this country work. I've only hear he president make sense on that topic. "Romney; really."
@TimeWarp66 Why would you expect people to buy from you when you are not even paying your employees enough to buy from you? What will happen when we are all poor and the top wealthiest don't have any more customers? Steal from each other?
@TeaParty1776 They are more than capable of providing better standards to their employees and still make huge profits. Is all about greed and lack of care for who made/makes you successful.
This video is going to be another classic installment of "Peter Schiff Was Right" that we are going to be looking at over and over a couple years from now. Hopefully we will not be standing in the total ruins of our economy when we are watching it. Maybe some of our leaders will finally start to listen to him before that happens.
My Professor at DePaul, named Rebel Cole echoes your very sentiments about the economy, spending, and the real estate market. He's the most honest teacher I've ever had, and you're one of the most honest "public" figures I'd had the pleasure of hearing.
So currently most Americans have a distorted view of economic prosperity like this situation?:
"Think of the people! What? Our labor isn't WORTH $20 an hour for a living wage of the working class? Greedy businesses going overseas with horrid working conditions of the 19th century! Tax the rich more since they get tax cuts and still don't create jobs here and don't need that wealth that can be used for clean energy, public schools etc!!"
I'd have the above mindset if it wasn't for Schiff.
@TeaParty1776 At least a $12 min wage. You also forget about the ability of companies/corporations to provide better wages/benefits. Companies providing minimum wages actually affect all of us. Who do you think ends up paying all the welfare, medicaid, healthykids, etc? The tax payers. Companies like Wal-Mart just sit on cash while the rest of us pay for their bad practices. They are part of the reason why so many people live in debt at all times and why we are in such crisis right now.
@F0x1214 This is a rationalization of the selfless depravity of communist equality, of the sacrifice of the most productive people, not for the alleged benefit of others, but for the sake of sacrifice itself. Sacrifice as an end in itself, with no values, as in the Marxist Gulags and the Nazi death camps.
Our economic crisis was caused by the economics of sacrifice. Every govt intervention was justified explicitly with sacrifice. We are now sacrificed. You got what you wanted. Stop complaining.
@TeaParty1776 It is not, because in the long run every business would have more customers. All type of businesses would get benefited and people would be more efficient considering their mood while working would improve. People could actually be proud of the company they work at and we wouldn't pay as much for welfare, medicaid, etc. Also fyi a lot of corporations avoid taxes and actually get tax benefits in return despite making billions in profits.
@F0x1214 Irrational communist equality needs irrational fascist leadership for its fantasy. Only the market can coordinate, with prices, the constantly shifting, hierarchical values of an economy. There is no economic fact beyond the market. Economists have no knowledge beyond the market of voluntary exchange by rational producers trading w/rational producers. Almost all modern economists are scientific frauds who study disembodied groups without man, the rational decision maker.
@TimeWarp66 Nah, I never said make everyone earn the same, do the same, share the same. All I am saying is that we can treat each other fairly without having to resort to exploitation, poor benefits, and bad practices and still have huge success. If you get the chance read Mollie's Job by William M. Adler. The book shows how globalization started in the U.S. and rapidly evolved. There is a reason why people prospered in this country when wages were higher over inflation, such as in WWII, etc.
Why would u respond to my comment? Jones is a fear mongering shill. Do your homework. Peter has a lot going for him. I voted for him. More people need to hear the truth. I know, they can't handle the truth. Yes, they can.
globalism got us here.. why are our systems overburdened..? globalism.. why are 60 million out of work..? globalism.. to an American, what is globalism..? Treason.. what is the opposite of globalism..? a Declaration of and the adhearence to Independence.. our country worked until a coup d'tet was slowly allowed to drip, unattended, and now we find ourselves bottom-lip deep in a pewtred stentch.. the cure, The Constitution and some rope..
@Dewdaahman The original Tea Party was a protest FOR globalism, FOR US trade with nations beyond the British Empire. Trade is good. Self-sufficient farms are bad. Trade creates a division of labor in which each person or nation specializes in the most efficient production, increasing production. Our economy suffers from taxes, regulations, and subsidies supported by conservatives and liberals for 100+ yrs. You conservative fools are afraid of foreigners because you evade thinking for tradition.
@TeaParty1776 spoken like a true globalist.. pick a country and go there because real Americans want Independence, not globalism.. different needs for different folks, we're NOT all the same..
@Dewdaahman Political, not economic independence. Your false patriotism is nationalism, the depraved sacrifice of individuals to the nation. Man is a rational animal regardless of how different cultures evaluate reason. Free will, not ancestors, causes values. Man needs an independent mind, trade & selfishness to survive, not depraved sacrifice. Sacrifice is evil. Selfishness is moral.
@TeaParty1776 one way they've ruined our country is to make it impossible to seperate politics from trade (economic).. put a Coke machine in a country and you create a partnership with that country, allbeit economic at first, it only takes a little while before Uncle Sam(antha) has political ties with that country.. if you take from me and give to an Indian (dots not feathers), an Indonesian or a Chinaman then you have committed Treason against the American People and to the Constitution..
@Dewdaahman Individual rights and the right to pursue happiness is American. Your nationalism is spiritual treason. The nation is a mere tool for individual rights, not God.
@l1meyman Palm...meet face. "keynesian". As in a follower of John Maynard Keyes, the idiot who said we could fix our economy by burying money, then paying someone else to unearth it. geez man, your making the youtube community look effin retarded. Look him up, and while your at it, look up Austrian economics. Obama is a devout Keyes follower. I said nothing about the country Kenya. SMH.
@puncher53 lol woah ok. Yeah I can how that would make me look retarded lol. At least its a mistake I can learn from. Thanks for the info. And I don't take credit for all the idiocy on youtube, it was a simple mistake. Chill out, man.
@aeronhibby Exactly , this has been his plan all along he wants to be the next Dictator in the world and the first in the USA. God help us get him out of there and all his cronies to.
Obama is not a stupid man he is a Marxist through and through.
@satinspringsarabians He's an anti-industry, pro-environmentalist New Leftist who worships poverty. Older Marxists liked industry and prosperity (however dishonestly).
Obama is a clueless moron but so are we, we deserve him. we already forgot that all this mess is because we elected bush and the neocons, we reap what we saw, we deserve the dezaster that is coming. It is funny to me how we still have a chance, elect ron paul and libertarian members in the senate and the house like demint and rand paul. But we are not going to do that becaus e we are stupid Americans :) so i am taking my pile of gold and move to Brazil! they have nice ass!
Americans jobs are in competition with overseas slave labor. Schiff, when you cut rules and regulations to make it more attractive to employ Americans, you are saying the conditions of American employment should be closer to that of the competitors (slave labor). What should happen is the conditions of the overseas jobs should be improved!
@drchessman Free workers are more productive than slaves because they use their minds to guide their actions. Slaves do what they are told. Most societies in history, including Africa and American Indian tribes, had slavery and poverty. Competition produces better and cheaper goods. Our govt reduces prosperity with an octopus of controls.
@TeaParty1776 If you're in a slave relationship, you're absolutely going to try and get away with as little work, and lowest quality work that you can. There is no benefit in working harder if you remain a slave.
Pete spews so much truth but it's too bad he's an 'incompetence theororist'. Nothing is planned,America's demise is due to incompetence,lol. The federal reserve is owned by the Rock and the Roth families and they're worth a combined 1 quadrillion dollars....but America's debt demise is due to Obama,Bush,Bernanke and Greenspan's incompetence.....lol.
No conspiracies....just a well earned quadrillion.
Peter Schiff has some good points regarding the housing crisis, the higher education bubble but the problem of America's decline and economic meltdown is more much complex then that. The USA needs a re-assessement and re-evaluation of its situation and its future!! I dont think the solutions will be in the hands of the GOP and Democrats or the actual political and economical systems.
peter has some good points but i dont think anyone really know whats up with the economy. Too much missing info and variables. lets face it, economics is not a science.
I think that someone who PREDICTED the whole thing in startling detail knows what's up. watch?v=2I0QN-FYkpw
Economics isn't an empirical science, it is an axiomatic science (Austrian school) therefore you CAN know what's what's up if you start with the right premises.
Goverment this government that.. Half of the people here on Peters' vlog don't have any idea with out the goverment involvement they would not have a place to put their money let alone have enough money. Dumb asses.
@1717jbs I think the RNC screwed up the votes in all the primaries so far...They cheat too much - just like the Democrats... I'm opting out of the party as soon as Ron Paul leaves.
There are a few videos of Peter Schiff and a few ideas I personally disagree with. However, 99% of his videos are highly educational, make sense, and I agree with.
This video is clearly one of the best of Peter Schiff. Once you equip yourself with Schiff knowledge, you can spot a bullshit on Obama's speeches.
Ron Paul 2012!!! I wrote a Ron Paul song that I'm trying to get people to listen to, I've gotten a very positive response so far!!! Click my handle and let me know what you think :) Peter Schiff for VP!!!
Americans have proven, time and time again, that they LOVE WAR. As long as they aren't asked to sacrifice for it. As long as the poor and middle class kids keep fighting, and the rich kids get a pass or state-side assignments, thing will never change. We have raised and educated several generations of Emperialistic Social Parasites, who value the lives of animals more than humans. War is something that happens "Over there", or on TV.
You know what makes me sad in all of this, the fact that people like Obama (who are hard socialists) who spew pure socialist crap AND that there is ANY dummies that buy into the socialist economic rhetoric that has NO basis in fiscal macro dynamics whatsoever.
These Keynesian socialist fools are completely academically bankrupt and yet they still keep spewing the same bankrupt crap that has helped to lead us to destruction.
Great video. I was just explaining these same points that you made to someone yesterday. This economy is headed for a serious train wreck and it will happen during Obama's watch. How abt Timothy "Tax Cheat" Geithner jumping ship along with Hillary Clinton? I'm glad to see Timmy go but I am almost 100% certain that he knows that this economy is going to cave very soon and he wants nothing to do with it. I don't blame him. It will be MUCH worse than what we saw in 2008.
@MakeMoneyOnline66 It's not the US rate that can cause a Sovereign Debt Crisis. It's the rate for the US to borrow more money to stay the course. Just a little higher and the US will have to borrow more money just to pay the interest on the national debt. Then it becomes a positive feedback loop ever spiraling downward. That's when the stuff hits the fan.
@vipero00 I don't think you understand my question my friend. Bernanke won't raise rates because that will increases the amount of interest the U.S. has to pay. If the interest rate goes too high the U.S. will go into default just like Greece, My question is how high does that rate has to be for the U.s. to go into default. If you don't understand my question, you need to watch more of Peter Schiffs Videos
@MakeMoneyOnline66 i think the us should of defaulted a long time ago, but with the debt ceiling getting raised its hard for that to happen, schiff says that if the rates go up to the levels of italy and spain then we are in for a ride. ( italy and spain's debt was huge but manageable, but as soon as the rates went up then the shit started)
@polishclark Clarify my last comment: Lot's of people get things for free, they never asked for it, I don't blame them for accepting the money. For those limited people, there is no real risk.
Financial risk vs. physical risk; would you rather be broke or dead? I don't see that many retired Roofers because most are crippled or dead before they can retire. That's the risk they take. How many Coal Mine Owners have been trapped in their own mines?
@polishclark A friends Father gave him 650K, he bought an existing repair shop in a good location. Another friend was given 2.5 Million and purchased a Hotel and converted part of it to a Flower wedding shop, changes in marriage laws and business is booming. Another friend was given 350 Acres of Land and 15 buildings, he raises Lamas and leases most of the farm land.
The best way to make 1 Million, is to start with 950K.
Which American labor pool are you talking about that is too expensive for businesses to hire? Most employees below the management level are only making subsistence wages as it is. How much profit must you make? And how little do you feel you must pay the people who make you a profit? If it truly is every man for himself then please inform your employees of this so they know who they are working for. Listening to you you would think that the concept of profit vs people is nothing but a big lie.
@rbauer1632 he is not only talking about the wage factor of hiring americans, ( the reason the wage is so low in america is because it is primarily service sector jobs that run at minimum wage, the manufacturing jobs would bring way higher wages) its the benefits, and legal aspects like litigation from lawsuits.... but nevermind that the american is lazy compared to the chinese and wants less hours, more vacation time, more perks and benefits, all for an even higher wage.
@manofbusiness91 Are you one of the lazy Americans? Of course not, it's only the other guy who wants a decent standard of living, 40 hour work week, a few weeks vacation a year, maybe some health insurance so he/she doesn't have to face bankruptcy in case they get sick. Do you really think that the government is the villian here? Do you think that in your free market nervana workers wouldn't want the same decent life? And you haven't addressed the profit vs people issue. How much do you get?
@rbauer1632 no im not one of the lazy americans, im one of the people that goes to work and is constantly disgusted at the laziness that permeates the workplace. Doesnt matter if its at the stores i shop at or the one im working at while i attend college. sure people want to work x number of hours and get benefits and health insurance. but benefits and insurance can be provided for pritately, there is a market for that.
@manofbusiness91 what i mean by benefits is the deductions that the employer has to match when he does his payroll. as for the profits versus people aspect, for ex: if i work hard and start a business and run it morally and legally i should be entitled to the fruits of my labor in their entirety. i will have made jobs for the people that work for me thats my social contribution.
@manofbusiness91 and more people could do the same thing (start businesses and make money and get off government life support) if government got out of the way and reduced regulations. capitalism works just let it, enough of crony capitalism because it doesnt work and only give capitalism a bad name.
@rbauer1632 not to mention the government in the way, with the regulations, especially the barriers to entry in any given industry. i say just let the market run its course.
O-BomBa hasn't a clue, the string pullers are pulling the puppets strings and if you noticed his SOTU (Snowjob Of The Union) speeches are nearly identical. O-BomBa is Bush who is Mitt Romney who are all more of the same!
FUCK teamwork, it's the biggest piece of BS distributed over the last few decades. All it means is that you don't have to know anything, you don't have to have any qualities whatsoever apart from being able to go with the direction the "teamleaders" provide (in plain english, being a hack/phony), and you will be rewarded.
And if you show talent and individuality, you'll be punished.
He is advocating 'Trickledown' economics and it hasn't worked so far so WHY does this guy think it will if given more of a chance by removing people's civil and human rights?
@BLUESGUITARMANIAC When the hell did he advocate removing people's human rights? Trickledown economics has worked though. When they make profit they invest it in new efficient tech, as a result prices can come down and more people can buy goods that were seen as luxury items. Big screen TVs used to cost like $10000 but thanks to trickle down effect they are much much cheaper and everyone benefits. Just because you don't have a larger paycheck doesn't mean you don't benefit.
@cbuma The reason the same tv costs less the next year could not have less to do with 'trickle down economics'. It has to do with the efficiency of the Tech industry at producing more goods, more efficiently, faster and cheaper. 30% of Americans are living at, near, or below the poverty line. Trickle down? Please.
@garrethdavis and what causes that increase in efficiency, speed and cost? Investment in new and improved capital goods by the owners of said business. You have to think beyond just a paycheck for trickle down economics to make sense. You may not be making more money, but thanks to investment in improved capital the money you do make is worth more than it would have been without it.
@BLUESGUITARMANIAC Wait a minute. You just said that producing a good in America would not add to the cost of the item and then you go on to say that the reason the cost is so low is because people are working in "slavery" in other places? Way to contradict yourself. China is in a transitory phase between failed communism and true Capitalism. The conditions are bad but they are better than what they used to have. Closing down sweat shops results in poverty and prostitution.
YOU HONESTLY think that effective technology produces lower production costs and thus lower prices?
IF such technology exists and that was the case then WHY aren't U.S and western manufacturers producing goods at home then?
Producing something efficiently and cheaply would be a good thing if they end result was employment for people in YOUR country but american manufacturers have forgotten this and are prepared to see
@BLUESGUITARMANIAC "YOU HONESTLY think that effective technology produces lower production costs and thus lower prices?" Yes. How do you describe the falling prices of goods before manufacturing was outsourced elsewhere? When you invest in more efficient capital you can then afford to lower the price and still make a profit. Lowering the cost allows more people to buy said good than before which increases profits. If farming is so great why don't they just go back to that?
@BLUESGUITARMANIAC "2005 article in Christian Science Monitor states "For example, in Honduras, the site of the infamous Kathy Lee Gifford sweatshop scandal, the average apparel worker earns $13.10 per day, yet 44 percent of the country's population lives on less than $2 per day... In Cambodia, Haiti, Nicaragua, and Honduras, the average wage paid by a firm accused of being a sweatshop is more than double the average income in that country's economy." They are FAR better off than the alternative
You STILL don't understand the point I am making:WHY is it acceptible to pay someone $13.10 PER DAY (which I don't believe anyway)and NOT pay someone $13.10 per day in AMERICA?
Cambodia ,Haiti,Nicaragua AND Honduras have been run by tyrants and totalitarian regimes created by American greed and coups in those countries which helps.
@BLUESGUITARMANIAC $13.10 per day is worth WAY more in those countries than it is over here. The average annual wage is like what now? $40,000? The average over there is $2. So by paying them $13.10 You are paying them over SIX TIMES the average wage of the country! Wouldn't you love to have a job like that?
I cannot believe that ANY rapacious capitalist in the good old U.S of A would refuse to (If they could get away with it )paying someone the grand sum of $65.50 for a weeks work.
Wouldn't you rather have your countrymen in jobs,even if people were insane enough to work for $65 dollars a week?
If you are reading a publication like 'Christian Science Monitor' then am I to take it that you are a Christo-Fascist?
I refuse to believe that any true christian would even support
the outrageous culmany that you have the arrogance to show to try to pass off to me as your own thinking or as objective journalism or is in ANY way intended to prove to me that people in these situtions are NOT being exploited.
They are being paid $2 a DAY and NO bathroom breaks.
No matter how hard you try to ease your conscience by reading such shoddy journalism.
@BLUESGUITARMANIAC "There isn't cheaper or more efficient technology" You're straight up delusional. I'll use the cotton gin as an example since you learn this in high school. After its invention Cotton production expanded from 750,000 bales in 1830 to 2.85 million bales in 1850.
Good Stuff. Can you please post more of the Current Peter Schiff radio discussions. Thanks!
robertquentincobb 43 minutes ago
Obama discussing economics is like a one armed paper hanger.
pretorious700 4 hours ago
Comment removed
cbuma 1 day ago
Long Live Karl Marx!
BLUESGUITARMANIAC 1 day ago
This has been flagged as spam show
Please read the WSJ piece on this guys brother Andrew Schiff. Keep in mind, his father is in jail for tax evasion. In the piece, Schiff says his $350,000 salary just isn’t enough. “I feel stuck,” he told Bloomberg. “I can’t imagine what I’m going to do,” Schiff told Bloomberg.
SO LET ME GET THIS STRAIGHT U MAKE 350K A YEAR BY PRODUCING LITERALLY NOTHING TO SOCIETY. UR BITCHIN ABOUT NOT HAVING A DISHWASHER AND A DRIVER AND A PENTHOUSE. BUT A 50% CUT IN MINIMUM WAGE FOR GREEKS ISNT ENOUGH. STFU
ChingChongCification 5 days ago
The bottom line is simple! The Demos & Repubs are the wings that keep the US Bird of Prey (Industrial Military Complex) aggressively flying all over the world for profit. If a country doesn't accept our corporations/military within their boundary, they become our enemy. So (with the exception of Ron Paul), it doesn't matter which wing wins the election, nothing will change. Both wings want to keep Ron Paul out of the race. I won't vote unless Ron Paul is in the election. He is not corruptible.
lafleurplumeria 1 week ago
This comment has received too many negative votes show
The Schitt report. You people are suckers.
Antiks72 2 weeks ago
Long live socialism!!!!!
1rafa2 2 weeks ago 3
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@1rafa2 Do you know that Christianity is correct? The world around us reveals that G-d DOES exist, and the historical evidence reveals that Jesus Christ really did come to this earth and there is overwhelming evidence that Jesus Christ really did physically rise from the dead. Jesus is coming again and the signs of the end times that were foretold in the Bible are coming to pass.
marionetemanJ 2 weeks ago
@1rafa2 FAIL! TRUE FREE MARKET CAPITALISM ALONG SIDE CLASSIC LIBERALISM WILL FOREVER PREVAIL!
abrahamkarr12 2 weeks ago
@1rafa2 fuck socialism
VerumAdNauseam 1 week ago
The republican party is as big a sell out as the democrats. I thought Schiff would have a better understanding of that reality. Republicans are not for capitalism, they are for controlled markets that benefit their cronies. They are for war mongering, fascism & against the constitituion. You need only look at who voted for the NDAA, it was both parties that passed that obscene assasination of the constitution. Look at their suppression of Ron Paul who DOES stand for free markets & liberty
dishesdealer417 2 weeks ago 4
@dishesdealer417 The Republicans are not perfect, but they have done a HELL of a lot better than democrats. IN GENERAL, republicans are for capitalism and market deregulation. That "war-mongering & fascism" rhetoric you're pushing is just regurgitated liberal propaganda. The claim that NDAA allows indefinite detention of US citizens is false... Ron Paul is running on the idea that only he is perfect and uncompromising, which we know is all going down out the window if he ever becomes president.
OddRobb 1 week ago
@OddRobb No way...Ron Paul is completely in corruptible, take 10 minutes out of your day & look him up on the web/YouTube. He is 100% genuine & consistent! The current Republicans nominees are just slightly less of a turd than what we have right now. Neither of them except for Ron Paul is actually going to cut spending, cut Gov't, ofr change foreign policy in any significant way.
moybutter 1 day ago
@moybutter You say that now, but look at every single president in the history of the U.S. At some point in office, they were forced to go against their ideology for the sake of compromise. He touts his "incorruptable" record, but how many of the ~800 bills he sponsored actually went somewhere? A president is delegated few powers, so he has to be able to pick and win his battles. Ron Paul is capable of neither. Also, his foreign policy is on the borderline of pure absurdity.
OddRobb 1 day ago
@OddRobb I can understand why it would be hard to believe but if u look at his record, has never voted for unbalanced budget or anythig unconstitional, he gives a portion of his salary back to the US Treasury, he even wants to reduce his own pay to about $39k (the average persons salary) per year if he were President. He's a man of integrity & principle & he's been preaching the same messagein office 20+ plus years! He's real. I don't 100% agree with RP's foreign policy but our own...
moybutter 1 day ago
@moybutter debt & fiscal situation is a much greater threat to our national security than some 3rd world country that "might" have a single nuke that has no capability of striking us whatsoever. The threat of Iran is overrated just like Iraq was.
moybutter 1 day ago
@dishesdealer417 Schiff doesn't support these clowns, he's a Ron Paul guy.
moybutter 1 day ago
long live peter schiff!
ndtoknw 2 weeks ago
The President did mention creating some new Federal Gov. agencies. Where does the money come from? We are freaking doomed.
tayronachan 3 weeks ago
1. Gold & Silver (G&S) are NOT investments; just a store a purchasing power. Convert your Dollars into G&S to preserve your purchasing power (before the central banks & the sovereign wealth funds put on a run against the dollar by buying G&S).
2. Buy and hold rental properties for low/modest income tenants with long-term fixed rate no balloon debt (FHA is great).
3. When the dollar crashes and G&S skyrocket, cash out some of your G&S to pay off your debt with debased bernanke bucks!
UltimateBargains 3 weeks ago 5
@UltimateBargains About point 2 & 3. That is my plan. You think silver will go up enough to cash in and pay off loans on property? I also think this could happen. But I think it could still be 5 to 10 years off, or another war or two away. And what happens to the dollar if the euro collapses? What sources are you listening to. thx
tayronachan 3 weeks ago
@tayronachan All fiat currencies are rooted in the US Dollar as the reserve currency. If the Euro crashes that means the USD has also collapsed. The US Dollar is a debt instrument: "Federal Reserve NOTE" & "Legal tender for all debts public and private." When the fiat currencies collapse, the economy will revert to Gold & Silver & barter. I read Mike Maloney "Guide to Investing in Gold & Silver" (GoldSilver;com). Buy rental properties with cash flow to buy G&S.
UltimateBargains 3 weeks ago
we need Ron Paul, Rand Paul, Judge N, and Peter Schiff in some mega group
jadedfeelings21 3 weeks ago
Big record labels are in the pursuit of shutting down music and video sharing sites because of piracy, the government should be in heavy pursuit in shutting down websites like Elance because they facilitate and simplify outsourcing IT work off-shore and cut deeply into the IT job market in North America. Outsourcing is like stealing from artists and should be banned!
SuperFreeKii 3 weeks ago
@SuperFreeKii I do freelance writing through Elance, and I'm an American. It isn't exclusively for people overseas; in fact, often times, employers state that they prefer native English speakers. The way it works is a job is posted by an employer. Anyone interested in doing the job submits a proposal. Based on your experience and willing wage, the employer makes a decision. It's a great system, and I've had a lot of luck with it. It's an example of how effective a free market is.
orange11emilie 2 weeks ago
Peter, I wish you became the president. I read your book and you are the only person that makes sense.
FaithfreedomFFI 4 weeks ago
You lost me when you listed "freedom" among the rigid values republicans cling to. Not that they don't, but that the term is meaningless. What are you really trying to say?
koboricci 4 weeks ago
@koboricci In a nutshell America (and much of the world seeing as our FRN are the world currency) are living in vastly large world of credit that isn't backed by hardly anything. There will inevitably be a huge (think astronomic black hole) market correction when this funny money bubble pops. If you want to preserver your wealth, assuming your able to save FRN, think about purchasing gold or silver. Every fiat currency has failed. The FRN is no exception either. It's a matter of time, not if.
knight508 2 weeks ago
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The republicans do not stand for liberty, they don't represent the people but the corporations.
But there is hope there is one true republica Ron Paul!!
Ron Paul 2012
Rubberjhon 4 weeks ago
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Rubberjhon 4 weeks ago
the state of the union is the state of kaos...
drsmith963 1 month ago
Look obama is super smart and is trying hard. He is a good family man, hhahahahaha- I couldnt keep going -I wouldnt hire Obama to write my lease- he seems so profoundly, unalterably stupid. Let me hear him give a 5 minute speech on some area of the law, he is supposed to be a fantastic lawyer. His explanations on all topics are on a 3rd grade level and his decision-making buttresses that.
gnaples 1 month ago
Schiff-onomics = Truth-onomics
dumba55nsf 1 month ago 3
the biggest problem the economy faces is that 20% of people are in banking, government, goldman sachs, paper shuffling... basically activies that are of no real benefit to the economy and exist only on account of scamming money out of the productive economy.
In a nutshell, that is the problem. Bernanke, for instance, needs to get a real job instead of pretending to know what ails the economy. He's really just doing the bidding of his cronies the banks while pretending to "help" society.
orangedac 1 month ago
the Federal Reserve is destroying my savings and my health along with it.
orangedac 1 month ago
@orangedac Secure your assets. gold & Silver. Silver is more affordable. Slowly purchase 90 percent silver coins (90 percent silver quarters, other 90% silver coins.) and American Eagle silver coins. Aswell as copper bullion. Silver & Gold mining stocks. Other secure stock investment including agriculture (since, even if we collapse completely, we will still need to eat.)
IBloodSweatTears 1 month ago
@IBloodSweatTears
the gold & silver trade is already very crowded. too many people buying thinking its headed to the moon. the whole commodity bandwagon is very crowded. that's why i've dropped out of it.
i still keep physical gold and will do so for the rest of my life just in case i'm wrong. but i don't think i'm going to get rich off it.
orangedac 1 month ago
@orangedac You aint seen nothing yet in the silver market. When the dollar collapses. THEN you can say it's getting crowded. People are still asleep to gold and silver. Some people even think they are bubbles. But there is nothing to pop.
IBloodSweatTears 1 month ago
@orangedac
that's what everyone i meet buying gold/silver seems to think. everyone is thinking its headed for the moon. maybe its headed higher who knows. but there comes a point in every investment where it sells off and the majority go over the waterfall before they know it.
i don't know where its headed. i'm not selling my physical gold, but for now i'm not buying any more either. if i were to buy, i'd buy mining shares. they have done rather poorly compared to the metal price.
orangedac 1 month ago
@orangedac Yea, nothing goes to the moon. But I think a rough guide for when it's time to sell silver and gold is the Dow/Gold ratio. jmho
tayronachan 3 weeks ago
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rodrigodet 1 month ago
Love Peter. But many times the american worker is not paid to much. I dont see how american workers are supposed to compete with a third world minimum wage (globilization=cheap labor supply) and survive in an american environment. thats importing poverty. The prices rise while the worker gets squeezed for ever growing corp. profits. I know this is over-simplified, obiously there is too much distortion in the markets to begin with. hell, the profit margins are a distortion of the markets.
naadabindu 1 month ago
@naadabindu One only has to wonder how long the Chinese worker will continue to work for a $1 per hour, one day these workers will demand better pay. How will this affect their economy? On the other hand I don't see how American auto-manufacturors can still afford to pay people $100k per year to work on the line...no business can survive with overpaid staff. I suppose we live in interesting times.
parkerjhansen1 1 month ago
He's true, 100 people got laid off at a warehouse I know of
dreamslides 1 month ago
I just wish I had been there to see Schiff jump out of his seat when Obama pivoted to college tuition
hobahtac 1 month ago
The irony here is......republicans always like to credit the previous administration for our current state. Times were good when Clinton was in office; give the credit to Reagan and Bush. Times were bad when G.W. Bush was in office; blame Clinton. Times are bad when Obama is in office; blame.......wait......Obama????
murfdog19 1 month ago
@murfdog19 If you listen to Schiff in the past, he's no fan of W. Bush, he's an independent. He was equally critical of GW.
BottleYourBrand 1 month ago 18
@BottleYourBrand Ha. Maybe he should run for president and show us how it's done. Armchair presidents are worse than armchair quarterbacks.
murfdog19 1 month ago
@murfdog19 Its 2012 and you idiots still argue over Dems and Reps...Pathetic!!!!!!!!!!!!!!!!!!!
mrmonnet 1 month ago
@mrmonnet Then go move to China you communist!!
murfdog19 1 month ago
@murfdog19 Communist??? You are truly showing your ignorance!!! Its 2012 you should know that both parties consist of the elite who want to bankrupt this country and form a one world govt. TURN FOX NEWS OFF AND PAY ATTENTION IDIOT!!!
mrmonnet 1 month ago
I'm beginning to like the president. I begin to think the people of this country have it pretty good. Things are getting better. It was going bad for 7 years but Its not easy being president. However I can't see those that are running as president. Its as thou they don't know how to connect with most of the people. I don't need to hear how to insult someone I need to hear what needs to be done to make this country work. I've only hear he president make sense on that topic. "Romney; really."
iamtheghostwriter100 1 month ago
I'd vote for a Ron Paul, Schiff ticket..! Two people you can actually get the truth from.
coffeejunkie33 1 month ago 26
@TimeWarp66 Why would you expect people to buy from you when you are not even paying your employees enough to buy from you? What will happen when we are all poor and the top wealthiest don't have any more customers? Steal from each other?
F0x1214 1 month ago
Great video Peter, Thank you.
06Casualty 1 month ago
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Jewish terrorist :
Ex Israel Prime Minister, Yizhak Rabin was killed by a Jewish terrorist, Yigal Amir.
Killed on : November 4, 1995
Stevie68000 1 month ago
Jesus, why can't Mitt just co-opt Peter's message instead of speaking in insipid generalities?
vmigop 1 month ago
Rin Paul for president, Peter Schiff for VP!
johnnieace45 1 month ago 2
@johnnieace45 Who is Rin Paul? There is Ron Paul, is his brother Rin Running for president?
Zac6230 1 month ago
Schiff happens, indeed.
pkpapers 1 month ago
Amazing video. One of Peter's best for sure.
0Mellennium0 1 month ago
@TeaParty1776 They are more than capable of providing better standards to their employees and still make huge profits. Is all about greed and lack of care for who made/makes you successful.
F0x1214 1 month ago
This video is going to be another classic installment of "Peter Schiff Was Right" that we are going to be looking at over and over a couple years from now. Hopefully we will not be standing in the total ruins of our economy when we are watching it. Maybe some of our leaders will finally start to listen to him before that happens.
MX3516 1 month ago
My Professor at DePaul, named Rebel Cole echoes your very sentiments about the economy, spending, and the real estate market. He's the most honest teacher I've ever had, and you're one of the most honest "public" figures I'd had the pleasure of hearing.
mites7 1 month ago
Ron Paul 2012
justatrey 1 month ago
Peter Schiff is my hero
ISmellLikeASexyGuy 1 month ago
So currently most Americans have a distorted view of economic prosperity like this situation?:
"Think of the people! What? Our labor isn't WORTH $20 an hour for a living wage of the working class? Greedy businesses going overseas with horrid working conditions of the 19th century! Tax the rich more since they get tax cuts and still don't create jobs here and don't need that wealth that can be used for clean energy, public schools etc!!"
I'd have the above mindset if it wasn't for Schiff.
kmelfina 1 month ago
@F0x1214 Only increased production increases wages. Stealing investment money from employers lowers production, lowering wages (in real, uninflated money).
TeaParty1776 1 month ago
@TeaParty1776 At least a $12 min wage. You also forget about the ability of companies/corporations to provide better wages/benefits. Companies providing minimum wages actually affect all of us. Who do you think ends up paying all the welfare, medicaid, healthykids, etc? The tax payers. Companies like Wal-Mart just sit on cash while the rest of us pay for their bad practices. They are part of the reason why so many people live in debt at all times and why we are in such crisis right now.
F0x1214 1 month ago
@F0x1214 This is a rationalization of the selfless depravity of communist equality, of the sacrifice of the most productive people, not for the alleged benefit of others, but for the sake of sacrifice itself. Sacrifice as an end in itself, with no values, as in the Marxist Gulags and the Nazi death camps.
Our economic crisis was caused by the economics of sacrifice. Every govt intervention was justified explicitly with sacrifice. We are now sacrificed. You got what you wanted. Stop complaining.
TeaParty1776 1 month ago
@TeaParty1776 It is not, because in the long run every business would have more customers. All type of businesses would get benefited and people would be more efficient considering their mood while working would improve. People could actually be proud of the company they work at and we wouldn't pay as much for welfare, medicaid, etc. Also fyi a lot of corporations avoid taxes and actually get tax benefits in return despite making billions in profits.
F0x1214 1 month ago
@F0x1214 Irrational communist equality needs irrational fascist leadership for its fantasy. Only the market can coordinate, with prices, the constantly shifting, hierarchical values of an economy. There is no economic fact beyond the market. Economists have no knowledge beyond the market of voluntary exchange by rational producers trading w/rational producers. Almost all modern economists are scientific frauds who study disembodied groups without man, the rational decision maker.
TeaParty1776 1 month ago
@F0x1214
Pure Marxist crap. Congrats.
TimeWarp66 1 month ago
@TimeWarp66 Nah, I never said make everyone earn the same, do the same, share the same. All I am saying is that we can treat each other fairly without having to resort to exploitation, poor benefits, and bad practices and still have huge success. If you get the chance read Mollie's Job by William M. Adler. The book shows how globalization started in the U.S. and rapidly evolved. There is a reason why people prospered in this country when wages were higher over inflation, such as in WWII, etc.
F0x1214 1 month ago
Peter schiff. Was right. Is right. Will be right again......
slutica 1 month ago
Why would u respond to my comment? Jones is a fear mongering shill. Do your homework. Peter has a lot going for him. I voted for him. More people need to hear the truth. I know, they can't handle the truth. Yes, they can.
420lse 1 month ago
@PALINSMITH Fleas carry disease.
TeaParty1776 1 month ago
Is our president Barack O'bama from Fantasy Island?
squareatheist 1 month ago
...or as you say in Swedish; "Slut på kontot!" (no more money in the account (sounds more catchy in swedish though))
MrBart550 1 month ago 2
It WASN'T a collective society.
jeffiek 1 month ago
globalism got us here.. why are our systems overburdened..? globalism.. why are 60 million out of work..? globalism.. to an American, what is globalism..? Treason.. what is the opposite of globalism..? a Declaration of and the adhearence to Independence.. our country worked until a coup d'tet was slowly allowed to drip, unattended, and now we find ourselves bottom-lip deep in a pewtred stentch.. the cure, The Constitution and some rope..
Dewdaahman 1 month ago
@Dewdaahman The original Tea Party was a protest FOR globalism, FOR US trade with nations beyond the British Empire. Trade is good. Self-sufficient farms are bad. Trade creates a division of labor in which each person or nation specializes in the most efficient production, increasing production. Our economy suffers from taxes, regulations, and subsidies supported by conservatives and liberals for 100+ yrs. You conservative fools are afraid of foreigners because you evade thinking for tradition.
TeaParty1776 1 month ago
@TeaParty1776 spoken like a true globalist.. pick a country and go there because real Americans want Independence, not globalism.. different needs for different folks, we're NOT all the same..
Dewdaahman 1 month ago
@Dewdaahman Political, not economic independence. Your false patriotism is nationalism, the depraved sacrifice of individuals to the nation. Man is a rational animal regardless of how different cultures evaluate reason. Free will, not ancestors, causes values. Man needs an independent mind, trade & selfishness to survive, not depraved sacrifice. Sacrifice is evil. Selfishness is moral.
TeaParty1776 1 month ago
@TeaParty1776 one way they've ruined our country is to make it impossible to seperate politics from trade (economic).. put a Coke machine in a country and you create a partnership with that country, allbeit economic at first, it only takes a little while before Uncle Sam(antha) has political ties with that country.. if you take from me and give to an Indian (dots not feathers), an Indonesian or a Chinaman then you have committed Treason against the American People and to the Constitution..
Dewdaahman 1 month ago
@Dewdaahman Individual rights and the right to pursue happiness is American. Your nationalism is spiritual treason. The nation is a mere tool for individual rights, not God.
TeaParty1776 1 month ago
pretty good bet gas prices go to 4.25 - 4.50 a gallon in 2012.
xfactortype1 1 month ago
@xfactortype1 The price of oil has been stable for 60 yrs (in gold). Check online.
TeaParty1776 1 month ago
work as a team and collective sacrifice = communism
xfactortype1 1 month ago 2
right on Pete. we are a trainwreck in motion. the carnage will be grand when our out of control government spending comes home to roost.
xfactortype1 1 month ago
Thank you for making this video, for those who do not believe and are still Obama worshipers.
satinspringsarabians 1 month ago
@l1meyman Palm...meet face. "keynesian". As in a follower of John Maynard Keyes, the idiot who said we could fix our economy by burying money, then paying someone else to unearth it. geez man, your making the youtube community look effin retarded. Look him up, and while your at it, look up Austrian economics. Obama is a devout Keyes follower. I said nothing about the country Kenya. SMH.
puncher53 1 month ago
@puncher53 lol woah ok. Yeah I can how that would make me look retarded lol. At least its a mistake I can learn from. Thanks for the info. And I don't take credit for all the idiocy on youtube, it was a simple mistake. Chill out, man.
l1meyman 1 month ago
I think Obama knows what he's doing, he's playing dumb and misleading the ignorant masses
aeronhibby 1 month ago
@aeronhibby Exactly , this has been his plan all along he wants to be the next Dictator in the world and the first in the USA. God help us get him out of there and all his cronies to.
Obama is not a stupid man he is a Marxist through and through.
satinspringsarabians 1 month ago
@satinspringsarabians He's an anti-industry, pro-environmentalist New Leftist who worships poverty. Older Marxists liked industry and prosperity (however dishonestly).
TeaParty1776 1 month ago
@aeronhibby He's a New Leftist. He doesnt have to play dumb. He is dumb.
TeaParty1776 1 month ago
Obama is a clueless moron but so are we, we deserve him. we already forgot that all this mess is because we elected bush and the neocons, we reap what we saw, we deserve the dezaster that is coming. It is funny to me how we still have a chance, elect ron paul and libertarian members in the senate and the house like demint and rand paul. But we are not going to do that becaus e we are stupid Americans :) so i am taking my pile of gold and move to Brazil! they have nice ass!
boghdan2000 1 month ago
Americans jobs are in competition with overseas slave labor. Schiff, when you cut rules and regulations to make it more attractive to employ Americans, you are saying the conditions of American employment should be closer to that of the competitors (slave labor). What should happen is the conditions of the overseas jobs should be improved!
drchessman 1 month ago
@drchessman Free workers are more productive than slaves because they use their minds to guide their actions. Slaves do what they are told. Most societies in history, including Africa and American Indian tribes, had slavery and poverty. Competition produces better and cheaper goods. Our govt reduces prosperity with an octopus of controls.
TeaParty1776 1 month ago
@TeaParty1776 If you're in a slave relationship, you're absolutely going to try and get away with as little work, and lowest quality work that you can. There is no benefit in working harder if you remain a slave.
shades2 1 month ago
You rock Peter.... THANKS!!
Skudgeboy 1 month ago
Pete spews so much truth but it's too bad he's an 'incompetence theororist'. Nothing is planned,America's demise is due to incompetence,lol. The federal reserve is owned by the Rock and the Roth families and they're worth a combined 1 quadrillion dollars....but America's debt demise is due to Obama,Bush,Bernanke and Greenspan's incompetence.....lol.
No conspiracies....just a well earned quadrillion.
guysmyly 1 month ago
Peter Schiff has some good points regarding the housing crisis, the higher education bubble but the problem of America's decline and economic meltdown is more much complex then that. The USA needs a re-assessement and re-evaluation of its situation and its future!! I dont think the solutions will be in the hands of the GOP and Democrats or the actual political and economical systems.
Natapier 1 month ago
Peter Schiff for Secretary of Treasury
Eye2EyeIIIV 1 month ago
peter has some good points but i dont think anyone really know whats up with the economy. Too much missing info and variables. lets face it, economics is not a science.
adwaye 1 month ago
@adwaye
I think that someone who PREDICTED the whole thing in startling detail knows what's up. watch?v=2I0QN-FYkpw
Economics isn't an empirical science, it is an axiomatic science (Austrian school) therefore you CAN know what's what's up if you start with the right premises.
Aphoresis 1 month ago
Goverment this government that.. Half of the people here on Peters' vlog don't have any idea with out the goverment involvement they would not have a place to put their money let alone have enough money. Dumb asses.
Anastrodamus 1 month ago
You got my thumbs up and I subscribed, Pete! ;)
LP101A 1 month ago
Definitely one of Peter's best videos...well done.
justintroutmusic 1 month ago
To say republicans are holding on to capitalism , freedom and the constitution is laughable.
1717jbs 1 month ago
@1717jbs I think the RNC screwed up the votes in all the primaries so far...They cheat too much - just like the Democrats... I'm opting out of the party as soon as Ron Paul leaves.
LP101A 1 month ago
There are a few videos of Peter Schiff and a few ideas I personally disagree with. However, 99% of his videos are highly educational, make sense, and I agree with.
This video is clearly one of the best of Peter Schiff. Once you equip yourself with Schiff knowledge, you can spot a bullshit on Obama's speeches.
NewVahan2011 1 month ago
Obama sucks. What ever happened to his hope and change......what a jerk.
RandalColling 1 month ago
U know what people Obama wants a riot, he'll get one.
MrDeejayjfx 1 month ago
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IamJohnGalt2011 1 month ago
Americans have proven, time and time again, that they LOVE WAR. As long as they aren't asked to sacrifice for it. As long as the poor and middle class kids keep fighting, and the rich kids get a pass or state-side assignments, thing will never change. We have raised and educated several generations of Emperialistic Social Parasites, who value the lives of animals more than humans. War is something that happens "Over there", or on TV.
TheExMarineCop 1 month ago
You know what makes me sad in all of this, the fact that people like Obama (who are hard socialists) who spew pure socialist crap AND that there is ANY dummies that buy into the socialist economic rhetoric that has NO basis in fiscal macro dynamics whatsoever.
These Keynesian socialist fools are completely academically bankrupt and yet they still keep spewing the same bankrupt crap that has helped to lead us to destruction.
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kmg501 1 month ago
lol Peter, the poor are getting the biggest tax hit of all, through inflation. It's just another big lie, please point it out more often!!!
ostralopithicus 1 month ago
Great video. I was just explaining these same points that you made to someone yesterday. This economy is headed for a serious train wreck and it will happen during Obama's watch. How abt Timothy "Tax Cheat" Geithner jumping ship along with Hillary Clinton? I'm glad to see Timmy go but I am almost 100% certain that he knows that this economy is going to cave very soon and he wants nothing to do with it. I don't blame him. It will be MUCH worse than what we saw in 2008.
mindstate30 1 month ago
This man is legend.
jmnage 1 month ago
Finally ..he said exactly what i have been trying to tell my blind deff and dumb peers
MsK20x978 1 month ago 2
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GoldOnlineStore 1 month ago
He sounds the same as some using deductive method to interpret the Bible: Make the statement, than look for suitable snippets to prove you point.
producerdalbert 1 month ago
If U.S. rates start to float higher at what percentage rate will cause a U.S. Sovereign Debt Crisis ?
MakeMoneyOnline66 1 month ago
@MakeMoneyOnline66 It's not the US rate that can cause a Sovereign Debt Crisis. It's the rate for the US to borrow more money to stay the course. Just a little higher and the US will have to borrow more money just to pay the interest on the national debt. Then it becomes a positive feedback loop ever spiraling downward. That's when the stuff hits the fan.
vipero00 1 month ago
@vipero00 I don't think you understand my question my friend. Bernanke won't raise rates because that will increases the amount of interest the U.S. has to pay. If the interest rate goes too high the U.S. will go into default just like Greece, My question is how high does that rate has to be for the U.s. to go into default. If you don't understand my question, you need to watch more of Peter Schiffs Videos
MakeMoneyOnline66 1 month ago
@MakeMoneyOnline66 i think the us should of defaulted a long time ago, but with the debt ceiling getting raised its hard for that to happen, schiff says that if the rates go up to the levels of italy and spain then we are in for a ride. ( italy and spain's debt was huge but manageable, but as soon as the rates went up then the shit started)
manofbusiness91 1 month ago
@dscoleri Yes!
ManufacturedLack 1 month ago
We should all go out there and help the president do his job. Bring a bottle of bourbon.
SidneyBoud 1 month ago
@polishclark Clarify my last comment: Lot's of people get things for free, they never asked for it, I don't blame them for accepting the money. For those limited people, there is no real risk.
Financial risk vs. physical risk; would you rather be broke or dead? I don't see that many retired Roofers because most are crippled or dead before they can retire. That's the risk they take. How many Coal Mine Owners have been trapped in their own mines?
ManufacturedLack 1 month ago
He didn't even talk about us running out of burrito coverings.
gonzobrains 1 month ago
@polishclark A friends Father gave him 650K, he bought an existing repair shop in a good location. Another friend was given 2.5 Million and purchased a Hotel and converted part of it to a Flower wedding shop, changes in marriage laws and business is booming. Another friend was given 350 Acres of Land and 15 buildings, he raises Lamas and leases most of the farm land.
The best way to make 1 Million, is to start with 950K.
ManufacturedLack 1 month ago
Which American labor pool are you talking about that is too expensive for businesses to hire? Most employees below the management level are only making subsistence wages as it is. How much profit must you make? And how little do you feel you must pay the people who make you a profit? If it truly is every man for himself then please inform your employees of this so they know who they are working for. Listening to you you would think that the concept of profit vs people is nothing but a big lie.
rbauer1632 1 month ago
@rbauer1632 he is not only talking about the wage factor of hiring americans, ( the reason the wage is so low in america is because it is primarily service sector jobs that run at minimum wage, the manufacturing jobs would bring way higher wages) its the benefits, and legal aspects like litigation from lawsuits.... but nevermind that the american is lazy compared to the chinese and wants less hours, more vacation time, more perks and benefits, all for an even higher wage.
manofbusiness91 1 month ago
@manofbusiness91 Are you one of the lazy Americans? Of course not, it's only the other guy who wants a decent standard of living, 40 hour work week, a few weeks vacation a year, maybe some health insurance so he/she doesn't have to face bankruptcy in case they get sick. Do you really think that the government is the villian here? Do you think that in your free market nervana workers wouldn't want the same decent life? And you haven't addressed the profit vs people issue. How much do you get?
rbauer1632 1 month ago
@rbauer1632 no im not one of the lazy americans, im one of the people that goes to work and is constantly disgusted at the laziness that permeates the workplace. Doesnt matter if its at the stores i shop at or the one im working at while i attend college. sure people want to work x number of hours and get benefits and health insurance. but benefits and insurance can be provided for pritately, there is a market for that.
manofbusiness91 1 month ago
@manofbusiness91 what i mean by benefits is the deductions that the employer has to match when he does his payroll. as for the profits versus people aspect, for ex: if i work hard and start a business and run it morally and legally i should be entitled to the fruits of my labor in their entirety. i will have made jobs for the people that work for me thats my social contribution.
manofbusiness91 1 month ago
@manofbusiness91 and more people could do the same thing (start businesses and make money and get off government life support) if government got out of the way and reduced regulations. capitalism works just let it, enough of crony capitalism because it doesnt work and only give capitalism a bad name.
manofbusiness91 1 month ago
@rbauer1632 not to mention the government in the way, with the regulations, especially the barriers to entry in any given industry. i say just let the market run its course.
manofbusiness91 1 month ago
Ron Paul should have Peter Schiff and Andrew Napolitano in his cabinet.
Shonenut213 1 month ago 29
@Shonenut213 Agreed, and don't forget Gerald Celente, that man is also a genius.
roadkillz78 1 month ago
@Shonenut213 and Tom Woods
skeletorva 1 month ago
@Shonenut213
don't forget Alan Keyes
Eye2EyeIIIV 1 month ago
Preach it Peter, Preach it!
O-BomBa hasn't a clue, the string pullers are pulling the puppets strings and if you noticed his SOTU (Snowjob Of The Union) speeches are nearly identical. O-BomBa is Bush who is Mitt Romney who are all more of the same!
Ron Paul 2012!
yaahme 1 month ago 2
FUCK teamwork, it's the biggest piece of BS distributed over the last few decades. All it means is that you don't have to know anything, you don't have to have any qualities whatsoever apart from being able to go with the direction the "teamleaders" provide (in plain english, being a hack/phony), and you will be rewarded.
And if you show talent and individuality, you'll be punished.
stoneeh 1 month ago
He is advocating 'Trickledown' economics and it hasn't worked so far so WHY does this guy think it will if given more of a chance by removing people's civil and human rights?
BLUESGUITARMANIAC 1 month ago
@BLUESGUITARMANIAC When the hell did he advocate removing people's human rights? Trickledown economics has worked though. When they make profit they invest it in new efficient tech, as a result prices can come down and more people can buy goods that were seen as luxury items. Big screen TVs used to cost like $10000 but thanks to trickle down effect they are much much cheaper and everyone benefits. Just because you don't have a larger paycheck doesn't mean you don't benefit.
cbuma 1 month ago
@cbuma The reason the same tv costs less the next year could not have less to do with 'trickle down economics'. It has to do with the efficiency of the Tech industry at producing more goods, more efficiently, faster and cheaper. 30% of Americans are living at, near, or below the poverty line. Trickle down? Please.
garrethdavis 1 month ago
@garrethdavis and what causes that increase in efficiency, speed and cost? Investment in new and improved capital goods by the owners of said business. You have to think beyond just a paycheck for trickle down economics to make sense. You may not be making more money, but thanks to investment in improved capital the money you do make is worth more than it would have been without it.
cbuma 1 month ago
@cbuma
Rubbish.
To produce a T.V in America or an i-phone or even a pair of Trainers would NOT add significantly to the cost of an item.
The reason the cost is so low is because people are working in slavery in most cases to give you that Flat screen T.V!
Trickledown economics is total lies and the sooner people realise this the better.
BLUESGUITARMANIAC 1 day ago
@BLUESGUITARMANIAC Wait a minute. You just said that producing a good in America would not add to the cost of the item and then you go on to say that the reason the cost is so low is because people are working in "slavery" in other places? Way to contradict yourself. China is in a transitory phase between failed communism and true Capitalism. The conditions are bad but they are better than what they used to have. Closing down sweat shops results in poverty and prostitution.
cbuma 1 day ago
@cbuma
NO,you Cretin.
How exactly have I contradicted myself?
YOU HONESTLY think that effective technology produces lower production costs and thus lower prices?
IF such technology exists and that was the case then WHY aren't U.S and western manufacturers producing goods at home then?
Producing something efficiently and cheaply would be a good thing if they end result was employment for people in YOUR country but american manufacturers have forgotten this and are prepared to see
BLUESGUITARMANIAC 1 day ago
@BLUESGUITARMANIAC "YOU HONESTLY think that effective technology produces lower production costs and thus lower prices?" Yes. How do you describe the falling prices of goods before manufacturing was outsourced elsewhere? When you invest in more efficient capital you can then afford to lower the price and still make a profit. Lowering the cost allows more people to buy said good than before which increases profits. If farming is so great why don't they just go back to that?
cbuma 1 day ago
@cbuma
They haven't exactly had a choice in China have they?
BLUESGUITARMANIAC 1 day ago
@BLUESGUITARMANIAC "2005 article in Christian Science Monitor states "For example, in Honduras, the site of the infamous Kathy Lee Gifford sweatshop scandal, the average apparel worker earns $13.10 per day, yet 44 percent of the country's population lives on less than $2 per day... In Cambodia, Haiti, Nicaragua, and Honduras, the average wage paid by a firm accused of being a sweatshop is more than double the average income in that country's economy." They are FAR better off than the alternative
cbuma 1 day ago
@cbuma
You STILL don't understand the point I am making:WHY is it acceptible to pay someone $13.10 PER DAY (which I don't believe anyway)and NOT pay someone $13.10 per day in AMERICA?
Cambodia ,Haiti,Nicaragua AND Honduras have been run by tyrants and totalitarian regimes created by American greed and coups in those countries which helps.
BLUESGUITARMANIAC 1 day ago
@BLUESGUITARMANIAC $13.10 per day is worth WAY more in those countries than it is over here. The average annual wage is like what now? $40,000? The average over there is $2. So by paying them $13.10 You are paying them over SIX TIMES the average wage of the country! Wouldn't you love to have a job like that?
cbuma 1 day ago
@cbuma
I cannot believe that ANY rapacious capitalist in the good old U.S of A would refuse to (If they could get away with it )paying someone the grand sum of $65.50 for a weeks work.
Wouldn't you rather have your countrymen in jobs,even if people were insane enough to work for $65 dollars a week?
If you are reading a publication like 'Christian Science Monitor' then am I to take it that you are a Christo-Fascist?
I refuse to believe that any true christian would even support
BLUESGUITARMANIAC 1 day ago
@cbuma
the outrageous culmany that you have the arrogance to show to try to pass off to me as your own thinking or as objective journalism or is in ANY way intended to prove to me that people in these situtions are NOT being exploited.
They are being paid $2 a DAY and NO bathroom breaks.
No matter how hard you try to ease your conscience by reading such shoddy journalism.
BLUESGUITARMANIAC 1 day ago
@cbuma
There isn't cheaper or more efficient technology,ONLY cheap and expendible LABOUR and THAT is only possible by exploitation.
America HATES commies but is happy to get into bed with them in order to make obscene profits.
The consumer culture devalues items anyway and promotes the idea that anyone and everything IS disposable.
BLUESGUITARMANIAC 1 day ago
@BLUESGUITARMANIAC "There isn't cheaper or more efficient technology" You're straight up delusional. I'll use the cotton gin as an example since you learn this in high school. After its invention Cotton production expanded from 750,000 bales in 1830 to 2.85 million bales in 1850.
cbuma 1 day ago
@cbuma
You IDIOT-HOW many SLAVES picked the cotton in the first place?
SEE-if 1850's technology was SO efficient then WHY did they need SLAVES?
No cotton fields in the North dummy do that only leave the south doesn't it?
They DON't have to HAVE slaves in order to make their T.V's or iphones but they need to maximise profits at the cost of MORE human suffering!
Some christian YOU are.
SHAME on you.
BLUESGUITARMANIAC 1 day ago
@cbuma
At least if you have had to pay a reasonable and respectible amount for something,you respect the item more than if it is easily aquired with