It would have been nice if cash for clunkers was geared toward American made cars exclusively, but that would be considered and illegal subsidy and violate trade agreements. Cash for clunkers was too generous and gave too much money for only a marginal improvement in fuel economy. If the fuel economy rules were tightened and the cash reward reduced I would be much more supportive of the program. The economy is against a brick wall with oil production peaking, so its think outside the box time.
"...everyone under 25 over 250,000 in theres and my lifetime..." This is why the end value of the US dollar is ZERO! No FIAT currency has ever endured the ravages of time. Short of nationalizing the Federal Reserve and eliminating or curtailing fractional reserve banking, the US National debt is completely unrepayable. No country's currency has ever lasted once the national debt got to the point of no return. I doubt the US dollar will last more years.
If Peter trusts consumers to make the right economic decisions, then he should trust them to recognize the potential debt downside to participating in Cash for Clunkers.
@baigandine - your words in the mind of a person. And then he stands in front of a Car Dealer and gets this "great" offer to buy a new car and is offered "cash" for his clunker. Reason vs. Emotion.
what we are witnessing is the intentional implosion of our economy. the demokrauts need to be tried for high treason. it was at one time a hanging offense. if things get bad enough and people get pissed enough, it may well become a hanging offense again! the loons that are dioing this to us are playing a deadly game. americans will know who to go after,,,,and i'm sure pretty soon we will.
Peter I have been following your insight for a few years now and just wanted to say thank you. Thank you for telling the truth and trying to advise people on what's really going on. Keep up the great work.
aside from the indebtedness of car payments & the sell out on Am car manf. - creating unemp to Am auto workers, there's an even bigger agenda that's not so obvious. All the new cars, like new TVs, computers etc have tracking devices among other things & we NEED to get EVERYONE hooked up to the satellites so we can find them anytime & anywhere, & if need be shut down or blow up "remotely"....in addition to the audio capabilities in the computer sys of the car. You'll be watched 24/7 LITERALLY!!!
aprize, that kind of thinking is paranoia. i hate the gov too and know they are going to destroy our country, but they aren't building bombs in to cellphones. keep thinking like that and you'll find yourself living in a cave and hiding from bugs that are carrying nano nukes in their bellies.
i hope you run for senator Peter and good luck if you do. i just hope you are not too late to make a difference. the u.s. ecconomy might be too far gone already
Peter Shiff has really aged in the past 2 years. Yolu Americans need to put this man in power as soon as possible before the crises gets too bad or he's too old to do anything about it. He is the only one who can save you Americans. Why is this man not in power?
morales, decency, logic. also cash for clunkers was meant to get convertable (electric or other) vehicles off the road and destroyed. buy a new gas guzzler steel box.
This is not a Democracy, it's a Republic. That's one of the main problems with people today. Know the Facts. And To The Republic for which it stands. You are only lead to believe there is Democracy.
Republic,,, Republicans ! Democracy,,, Democrats!!! People fail to realize that democracy is their agenda that theyve been trying to force feed us and brain wash us with for decades!! They control most of the media and other entertainment industries! They ruined this country
He is right on the money when it comes to cash for clunkers program!! Decent cars that run great are being destroyed!! I am environmentally conscious, and go out of my way to save, help the planet, but this program is BS!! By the time they kill, transport, and melt these cars, we just added more pollutants then keeping them on the road.
If you listen closely, you will understand what Peter is really saying. This whole Political movement is not to help you and me, it's not to re leave you and I from some sort of pain. It's about them taking ultimate control. Do you folks remember what the Soviet Union used to be? That is the dream to the very least of these Political powers. Bush, Obama, They are one! One World Government. That is the goal. The is no place for YOUR personal growth in this plan. WAR will become something among us
It has been tried, and has failed in history. Bring your red ass here bro. Well take care of your Woes. God will be the only one left to count the body's.
Bro, you are the smartest man alive... You have my vote... Love all of your videos that have been posted since last year and since before the economy ever fell... You saw this coming... God gifted you as a Moses of our day... thank you... Keep it up...
There is ONE way out of this economic mess that nobody ever points out. I am not endorsing it just recognizing historical precedent. We have the military, so did Hitler when he took over the Weimar Republic. The only way out of the economic mess is (besides decades of pain) if some madman finds a scapegoat (country with assets) and mesmerizes the American public into office.
someone say it was a big deal that Beck said Obama was a racist? What's the big deal.
Not Obama nor anyone else made a peep when Eric Holder implied that the white community at large were all stodgy, fearful, bigoted people back in February.
Nor robert Rueben's bigoted, spiteful, and OPENLY rasict remark toward "white construction workers". And making sure assistance didnt go to that ethinic group for reasons only known to himself. I guess they are in a special economic category due the thier race. haha
The Cash for Clunkers program is BS. I own a 1984 Mazda 626. It needs work but I don't have a car payment. The repairs on my car are cheaper not only than a car payment but also cheaper to fix. Omg it runs better than the leon 2001 Ford Focus I used to own. The government is taking from the working class people and expecting them to pay back loans they cannot afford.Impeach Obama. He a Socalist with a wet dream of being Dictator.
i may be 16 and not under stand politcs yet it just seems like to me the USA is going down hill, beaten, and trashed. while the rich and politics just smile and wave from above.
can some1 plz explain to me isnt debt now good for individuals considering the economy is gonna crash and the currency is gonna become worthless. isnt now the time to be getting into debt so when it all hits u have all this stuff and u owe banks worthless paper.
the economy isn't going to crash you nin-coom-poop. It will indeed be shaken up and restructured, and some companies which are not rock solid in the black will indeed falter or faill. BUT the economy isn't going to disappear into a black hole over night. "SERVICES" of some kind will always be around [i.e. manual labor jobs]. "GOODS" will still be around as well. An example, you think you can do without buying shampoo, soap or toilet paper? Someone has to make those.
This is a disgusting and IMMORAL program paid for with your tax money.
There is no reason to destroy a reliable working car. How many needy people do you know that could use reliable transportation to drive to a better job? How many students could use a reliable car to go to school? How many people are driving unsafe cars because they can not afford to replace them with a new car?
I hope that the creeps in Congress and the White House that came up with this disgusting program rot in hell.
Hmmmmm, I believe the reason the "cash for klunkers" bill was signed is perhaps because the government wants green houses gases to decrease? Something like that?
also reduce our energy consumption with more fuel efficient cars, at the same time stimulate economy to move back and forth. These guys are idiots if they really think they are destroying older cars and just burrying them in the ground. They are recycling the parts that can be recycled as well as the steel, rubber and glass. Idiots.
lol but u then buy a more fuel efficent car and then wat. ur in debt. thats the prob. the country is gonna collapse because the debt is overwhelming. these ppl want u to go into debt so u become a slave. thats the prob wit this policy. ur getting ride of something valueable so u can enslave urself
True, there is indeed a risk involved. Actually there is a risk with anything we do for that matter. However, I have to disagree with you on "these ppl" want u to go into debt and be a slave. That's something a paranoid person would say, greatly motivated by fear. There are obvious positive merits, as well as negative merits. So in part you are indeed correct, but not completely. I think neither you nor I are fully versed on this issue, so our opinions don't really matter. Just speculation..
the effect that it will have on the environment is so fuckin small that it is retarded to do that. i mean completely fuckin retarded that even an idiot would know that it is stupid.
Even the largest of oceans once began from a single drop, then another, and another, and so on and so forth. We do indeed have an effect on our environment by our own actions, which were motivated by our understanding and desires to either fulfill a task, or solve a problem. It seemed to be a good idea to convert oil to gasoline more than a century ago, it also seemed like a good idea for nuclear reactors for energy decades ago. But now we know diferently. When do we begin fixing our problems?
its obvious why they are destroying them .... only way you can get a new car is by a loan ... at interest.... who do you think this bneefits ? He is RIGHT about 1933 FDR, look up the agriculture act, they intentionally ruined crops to up demand ..... this is CHESS people .... not CHECKERS
We only helped bankers and wall street with the stimulus. They are laughing their ass off at US taxpayers,..We've been robbed with eyes wide open,.WAKE UP
my first car was a 72 vega station wagon not running for $100.00,. Al my cars were old bought outright cars, never in debt til I went to school and paid that off. No Debt. Less bills the better.
CARS rebate may make sence for the car dealers, but it gave banks loans and interest payments they need to write down as income on there books, which they very well may fail to pay causing a default in the loan. I had better not hear again we are bailing out a bank, LET THEM FAIL! They are self serving animals! Dont buy anything you dont need, and take whatever you can out of your bank and use cash. This is all doing to get bad very soon,.
America is 'perfect' so any critism of america is a personal insult to them. LOL
Grow up!
If you live in the usa, you live in a shit country with a bad government and a really awful future. Get over it!
G**gle "mortgages RECASTS alt-a option arms", look at a few graphs, get an adult to tell you what the big ideas mean, wiki the 'big words' and then go change your pants for clean ones!
That ONLY applies to the usa, sorry but it does, so have fun with it over there!
not every american is a dope, just 75% of them. I have excellent credit, own 2 old paid for clunkers, and I only had a student loan as debt in my life. But many people fall for the bait CARS rebate & lies. How in is McDonalds up in a recession, does anyone know its cheaper to cook a dinner at home? After hearing we are 70% a consumer economy and we make nothing, why would I spend a dime? We all are not stupid, but this is a game & banks are winning because some are very stupid getting into debt.
You almost have to sell yourself out to serve as a politician. We can borrow so much that it will not come home to roost for 20 years. Let the people then deal with it. If Im not gone I'll be to old to care. Come on lets get the corporate banking mentality to infest it's disease on all of us.
the government is ran by jews and all of america says its true so why do we put up with it ? arabs dont these days or does anyone else alot of people stoped buying into jew companies ? well they are very smart period
This is a great project, Clash for clunkers is doing it's job. It's cleaning the environment, and at the same time stimulating the economy. Notice no more recession talk in the media. Kenyesion Economics is obviously working creating the upper trend overall.
You're being sarcastic right? You are wrong on every single point above, so I have to assume you are being sarcastic.
BTW, if C4C was all about 'cleaning the environment' & helping the whole industry then why was the wt limit set just at the point that included GM/Chrysler trucks & vans, but excluded a butt-load of Ford trucks/vans? Older Ford trucks/vans don't pollute? Or is the whole program designed simply to help the govt/union corps while dissing the last major independent auto mfgr?
If you have a clunker to trade in, DO IT! You might as well because you paid for it anyway, along with EVERY taxpayer. The rich, middle-class and poor taxpayers. Unfortunately, it was reported that more than 25% of the new car sales in this program will be repossessed within three months.
It's just a mini version of the whole housing bubble brought on by Fannie, Freddie, and the Fed. We're getting sub-prime car buyers, and next we'll need a sub-prime car-buyer bailout.
Was spending $1 bn a cost-effective way to achieve the CO2 reductions? Assuming that each consumer keeps his car for 10 years (??), then the total savings should be a little less than 5.7 million tons of CO2. That means each ton of CO2 would be worth about $175.53 to the U.S. govt. As the Washington Policy Center pointed out on its blog in June, a ton of CO2 currently goes for about $17.50 on the European Climate Exchange.
I think it bull when our President Obama tells us to shut up. I think is bull to see that our Congress is totally disconnected with the American Public. What is next, jets for clunkers for Congress to buy?
I have been following your blog for quite sometime and it sickens me to see how our government is wasting away our future. Whether Democrat or Republican, it really makes no difference. They are all the same. They are puppets and so are we. Unless we change our attitudes and spending habbits, we will be worse off in the future. Thank you for educating the masses. There are few people with the guts to speak out as you do. I hope you make the US Senate.
Hoover did exactly what Obama (Bush jr.) is doing now... stimulus, prop up failing companies, and grow the size of government. He was the OBAMA of his age! FDR actually ran and won on the promise of CUTTING the size of government by 25%, a promise he never even attempted to keep. Sort of like Obama's promise not to raise taxes on 95% of Americans. What a joke.
He says much that is correct, but oversimplifies. For example, the idea behind the "cash for clunkers" program is to reduce US fuel usage by replacing cars with poor gas mileage with cars that have good gas mileage. The reasoning behind the "stimulus package" is essentially Keynesian - flood an economy in recession with government money to leaven the "boom and bust" economic curve.
I'm not disagreeing with Schiff. But he does have a vested interest, and his commentary is colored by it.
the stated idea may be better fuel economy, but i think its actually to help the unions who supported obama and create phony consumption to make the numbers look better
BEST CASE, if people keep these cars for 10 YEARS, we paid at least $170+ per ton of CO2 that we MIGHT eliminate by this boondoggle. One ton of CO2 is trading at $17 on the European Climate Exchange. We overpaid by AT LEAST ten times!!
Of course, once you know that a lot of Ford trucks/vans were excluded from the program by setting a wt limit just right, then you can conclude that this was to help GM/Chrysler, not the environment or the nation as a whole.
and now it turns out that 8 out of 10 vehicles purchased were built by Asian companies (many right here in the US), so the attempt to help union workers has backfired
But if the "boom" or "bust" is inevitable, what is the point of trying to prevent it. I think I see what you are saying, but sometimes simplifying helps people truly understand what is going on.
It DOES take many cars that function well enough (and have no debt attacheds), and asks the consumer to spend money that they don't currently have (otherwise, they'd have replaced their clunker anyway).
It's absolutely INCREDIBLE how stupid (I hate to use that word) the American public is.
You missed the point entirely. He KNOWS the reasoning behind both of these things. In the case of cars, we've essentially paid, at minimum, if people keep their cars for 10 YEARS, $170+ per ton of CO2 reduction at the same time that a ton of CO2 is trading on the Euro Climate Exchange at $17. Terrible use of $3 Bn dollars. And Keynsian crap got us into this, credit-expansion inflated the 'boom', and the bust becomes inevitable. Flooding more money in is just setting up another, worse crash.
government intervention often hurts the environment. Check out Cadillac Desert if you don't believe Congress is oblivious to the consequences of its actions.
Your right. Who wants to spend $30,000 on a truck your going to use as a work truck. Wouldn't it make more sense to buy a used truck off the side of the road for a few hundred? You may have to put a few more dollars into it (maintence work) but you OWN it.
I bought a truck off a guy for $400, 6 years ago. It's still running and hauls and is making me money. If I had bought a new truck I'd just now be paying it off. While even with maintenace costs I've made out like a bandit.
Realize of course that, as Schiff is a small independant broker for European and Asian stocks, that he has every reason to scare people out of (a) investing in US stocks and (b) leaving their money with large American investment brokerage firms.
Not that he isn't right about a great many things. But he's not an entirely disinterested observer.
It's SO unamerican to tell the truth these days, isn't it? Ya must stay on-message, sheeple!
What does Schiff have to lose from telling it like it is in the more peaceful environs of Europe where the smarter people are?
Your f dollar is damaged!
If your brain is too damaged to twig this simple fact, while everyone else in this world is trying to get out from under the US Treasury (usDollars, dummy!) Bubble, then you deserve all that's coming to you.
You can not borrow your way out of debt. The only ones who have and continue to benefit are the Central Banks and the IMF all privately held. The good ole boys gang.
Most people don't realize that FDR destroyed MILLIONS of pigs to keep the price of pork high. That invariably inflates the dollar. Collectivists (communists, fascists, socialists) have always tried to control prices against the market. And they've always failed. This is well documented. Thomas Sowell points this out as a factor which prolonged the Depression - "Basic Economics" by Thomas Sowell.
I own a "clunker" that is 16 years old with 155K miles. The AC doesn't work and the transmission is iffy. But I'm trying to hang on until I can save cash for a newer "clunker." I refuse to have other taxpayers pay a penny for a car that I buy and I refuse to go further into debt. Am I the responsible one here? Or should I just give in and let everyone else help pay for my new car and don't worry about my debt? More Irony - my taxes are being used to pay for someone else to buy!
The government is giving alot of people a chance to trade in a old car for a fair price. It is the consumers fault for buying jap cars or for buying a car they cant afford. Why would we blame the government for someone buying a car they cant afford?? The government is giving US the money it is our job to buy a affordable american car to make this program work!!! Im not a fan of big government, but when do we the consumers take responsiblity for our own actions??
Cash4Clunkers is a trivial billion dollar sideshow. Most of the money is going to Ford, which builds outside the usa, & Japanese automakers who aren't american either. Nice going exporting more wealth outta your embarrassing shithole, numbnuts!
Maunufacturing in the usa is made too expensive by workshy cretins who demand costly benefits to make shoddy, crudely designed & badly finished goods. Who'd invest in the usa? It's Somalia with FrenchFries... & an age of rolling blackouts approaches! LOL
Consumers are ALWAYS right and they're voting with their collapsing dollars by buying high quality, technologically advanced and fuel efficient vehicles which AREN'T backward ugly crap american cars.
Capitalism works both ways, ameri-creeps. The usa is simply inferior as a manufacturer and foreign goods are streets ahead.
LOL american hasn't been #1 in *anything* since 1952... have you ONLY JUST NOTICED?
You literally are a LIAR and an IDIOT. Is there some truth and stuff I agree with in what you said? Sure, though you said it in the most insulting way possible. But the US currently produces TWICE what China does with LESS total CO2 production. It would help your case to actually know what you are talking about. Some of the American cars/trucks are rated above the best Japanese/German cars in quality, so you are just coming across as a fool and a tool.
Just goes to show that the usa cannot ever do the right thing... and now with GE lokking like its going bankrupt, the usa is AGAIN teetering on the edge of becoming New Somalia!
I love it when americans try to do the right thing... then there suddenly appears an army of shits screaming the opposite like "NOOOOO! Setting children on fire is a GOOD thing!"... it's called political lobbying and it is hilarious!
they arent that stupid. they know what its gonna do and they r doing it on purpose. search up new world order on utube then ull c this is just a small part of a bigger and scarier puzzle
No one 'made them' pay the health care. It was offered as part of their remuneration. The ones to blame are the management of GM at the time. Remember that 'someone' always has to pay. The costs are a lot more greater under a socialized health-care system than a user pays!
Ok, they had to pay for health care as a result of the agreement with the union. In any case, this would not be necessary if health care was provided by the state. Where have you got the data to support that a state run health care system is more expensive? The US has among the worst health care services in the western world, and among the most expencive ones, if not the very most expensive. Where is your reasoning?
I'm sorry conservatives! But I'm damned tired of giving money away to multi-national corps that are no longer American corps and are not creating any jobs in my country! You talk about buying Jap cars? Well the Japs opened a plant in San Antonio Texas and put Americans to work! Plus they made a profit while doing so while so-called American car mfgrs claimed that the only way they could make a profit was to move jobs over seas. Then they still failed!
I'm sorry! But most corps are multi-nationals which are in essence foreign entities doing business on our shores! But Rush Limpdick has convinced you and even liberals that protectionism is evil. Well guess what dumbass? Trickle down may have worked for Reagan but in the 21st century "Trickle Down" has become "Trickle Out". Money goes to the multi-nationals and they create jobs in Mumbai.
You're response assumes incorrectly the a government actual exists and is in control! Maybe they control you and I. But multi-national corporations are in control of this damned place. And politicians that don't follow their agenda well be disposed of handily. So party is irrelevant. The ppl who own the trillions are the ones calling the shots!
The US economy has been wrecked by corporate schemers and Wall Street execs twice in less that 8 years. They've retired on the money that they've ripped from investors and you're still stuck in the 80's complaining about Big Government! In the mean time our Manufacturing Industries are gone, our Hi Tech Industries are gone, education is a joke, Service Industries are outsourced, Wall Street is a Ponzy scheme and our politicians are all globalists!
You should be aware that even the best Japanese car companies have had to take Billions from the Japanese govt in 'help' throughout their recession. I'm not sure you can claim that they are truly making a profit. The San Antonio plant and Honda's plants as well are NON-UNION. The reason Ford/GM needed to build plants overseas is to get out from under the thumb of the UNION. When GM can't layoff a union idiot, & has to pay him $31/hr to sit on his ass playing cards, then how can they compete?
Bush and now Obama are obviously destroying the economy on purpose to bring in a world bank for the bankers...and eventually a more centralized financial system with more power for the people that caused this.
Watch "The Obama Deception" to learn more....sigh.
BECAUSE...who could be this stupid?!
Obama and everyone else know exactly what they are doing.
I have an idea instead of you tree hugging fucks, how about you donate these unused vehicals to somebody who needs them. who could use some wheels to work or is having a hard time in life. And stop worrying about growing a extra tree or flower...
I just talked to my friend the other day about this cash for clunkers deal. He had never heard about it, because he was too occupied with watching Jerry Springer and American Idol, I guess.Anyway, I explained how the process works. I was appalled when he actually told me that it didn't seem like a bad idea! Can there really be that many people among us who think that DESTROYING an unimaginable amount of PERFECTLY working vehicles is a GOOD idea?!?! Imagine the future inflation on these used cars
Ok pandabead... Apparently you don't understand. This has nothing to do with us getting taxes back. This money being spent by the government is going to paid for by US with our TAXES. This isn't giving anything back. All this is doing is taking more money out of your check and putting you in debt by way of a new car.
Do you know what being ironic means. I was being sarcastic. MY goodness. I was making a sarcastic joke because I am so pissed about all of the spending. We are going to end up being the Weimar republic. even warren buffet spoke out and told Obama he is creating a banana republic.
The American people as a whole are following Schiff's advice. They are cutting down on personal debt, cutting the budget, working harder and buying basics. If there is any turnaround in the US economy it is the suddenly frugal, sober US consumer/taxpayer who will get the economy going--not the wall street mafioso or the DC Chicago mob.
This guy should first be a senator out of Connecticut and then Secretary of the Treasury--he has what so many hacks lack--common sense and a pro-US attitude.
its funny how people see things. wrong becomes right and left is up and right is left. blame whoever you want i guess. everyone is living in a fantasy land.
americans dont like the idea of "getting it over with" thats just my opinion im sure there would be many people complaining about policy if our government werent spending all this money. but im with schiff on this one. besides i dont care to much for money (food + water + guitar = happy)
If we can just get another 60 or so like minded people in the senate we could stop these political elitists. We must support people with common sense and principles before we no longer are able. Obama will have us all in shackles before long. Long live the republic or the United States of America.
I believe in free speech,which Schiff is doing. I'm sick and tired of seeing our rights stripped from us, the same as been done in Europe.History will judge each administration.
this clown is done.the wheels are falling of his garbage forecasting.he wants the economy to fail no matter what. he is the real joker.stay positive dont follow this clown.
Sorry bud! You lost your credibility when you said you were going on Glenn Beck. No serious student of Economics turns to FOX, and especially not Beck for financial advice.
The stakes are high, the situation is serious - and Peter Schiff is exactly who we need in office. Let's get him elected - I believe Peter Schiff is a True American Patriot. We need people like Peter - independent, objective and logical and I believe loyal to our Constitution - to lead our Great Nation.
I hate listening to this guy talk because it just depresses me even further. I've been out of work for 5 months. I'm ready willing and able to work, but nobody is hiring. If I can't find a job with a mechanical engineering masters degree, how do I even contribute to the economy? I won't be able to. I'll be out on the street homeless after my savings run out in 10 months hoping somebody takes a gun to my head and puts me out of my misery.
I don't think that they think (obama and the democrats) believe that the recession is over. And wasn't Obama original accused of being to down to reality early on about the current recession, and was attacked from the other side because of that? And now he's being attacked for being to positive. I wish the repub's could make up their minds. Or is this just politics as usual, and blame the other side if things are looking to rosey for them. sigh.
Peter, WHY are so many people so blind to this? Or is it that they just don't care? Maybe they don't know enough to really understand what's going on...
A twice Nobel prize winning economist made the point that disagrees with you here. There is a quality to that debt. If you get debt and buy a TV, then that debt = bad. If you get that debt and use it to create value that will create returns then that debt = good.
The government should have focused on a technology bailout that brought us technology that we could sell by researching that technology and putting it in the open source domain under some kind of limited USA use act.
8 dislikes? How the fuck can you not like this? How can you disagree with this? Please reply!!!
TWSceptic 1 month ago
This has been flagged as spam show
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Xex181 3 months ago
SchiffReport my msn in profile! GDP, cash for clunkers, dollar, debt, depression
sexykatie911 1 year ago
The broken window falacy is a good way to explain the damage destroying assets causes.
shananagans5 1 year ago
It's the governments economy not the peoples any more... We lost the battle with big government
420lovesweed 1 year ago
It would have been nice if cash for clunkers was geared toward American made cars exclusively, but that would be considered and illegal subsidy and violate trade agreements. Cash for clunkers was too generous and gave too much money for only a marginal improvement in fuel economy. If the fuel economy rules were tightened and the cash reward reduced I would be much more supportive of the program. The economy is against a brick wall with oil production peaking, so its think outside the box time.
Zyworski 1 year ago
@greetingsearthlings1
"...everyone under 25 over 250,000 in theres and my lifetime..." This is why the end value of the US dollar is ZERO! No FIAT currency has ever endured the ravages of time. Short of nationalizing the Federal Reserve and eliminating or curtailing fractional reserve banking, the US National debt is completely unrepayable. No country's currency has ever lasted once the national debt got to the point of no return. I doubt the US dollar will last more years.
derfowvayer 1 year ago
Now broadcasting from motel 6
RichardDICKCheney 1 year ago
Main St. is getting its act together. The savings rate is positive, and consumers can't overextend themselves on credit that isn't available.
baigandine 1 year ago
If Peter trusts consumers to make the right economic decisions, then he should trust them to recognize the potential debt downside to participating in Cash for Clunkers.
baigandine 1 year ago
@baigandine - your words in the mind of a person. And then he stands in front of a Car Dealer and gets this "great" offer to buy a new car and is offered "cash" for his clunker. Reason vs. Emotion.
manoman0 1 year ago
HR 1207 S604
and the truth will set you free
copperscorpion 2 years ago
Peter for PRESIDENT!!!!
One of the VERY few that know what really going on in America...
AND is willing to tell it how it is......
DeathOfTheDollar2010 2 years ago 3
@DeathOfTheDollar2010
Suck a dick. In fact suck your mothers dick.
Berlitz777 2 years ago
Not an expert but uh....."a lethal dose of stimulus" sounds MUCH worse than a "Capital Injection"
uturniaphobic 2 years ago
Mr. Schiff your the man!!!!!!!!!!
arizonaboss 2 years ago
Search for "CIA DEBT LIE"
eliasmouawad 2 years ago
Keynesian Economics is complete madness.
mikejackson4ever 2 years ago
Keynes is rolling in his grave. What we are experiencing is Keynesian Econ after a bottle of Maddog.
HarrySeeword 2 years ago
Lol!
mikejackson4ever 2 years ago
what we are witnessing is the intentional implosion of our economy. the demokrauts need to be tried for high treason. it was at one time a hanging offense. if things get bad enough and people get pissed enough, it may well become a hanging offense again! the loons that are dioing this to us are playing a deadly game. americans will know who to go after,,,,and i'm sure pretty soon we will.
rednxrule 2 years ago
It'll only come to that when Americans start starving to death.
mikejackson4ever 2 years ago 2
Peter I have been following your insight for a few years now and just wanted to say thank you. Thank you for telling the truth and trying to advise people on what's really going on. Keep up the great work.
soul71 2 years ago 15
aside from the indebtedness of car payments & the sell out on Am car manf. - creating unemp to Am auto workers, there's an even bigger agenda that's not so obvious. All the new cars, like new TVs, computers etc have tracking devices among other things & we NEED to get EVERYONE hooked up to the satellites so we can find them anytime & anywhere, & if need be shut down or blow up "remotely"....in addition to the audio capabilities in the computer sys of the car. You'll be watched 24/7 LITERALLY!!!
Aprize0 2 years ago
aprize, that kind of thinking is paranoia. i hate the gov too and know they are going to destroy our country, but they aren't building bombs in to cellphones. keep thinking like that and you'll find yourself living in a cave and hiding from bugs that are carrying nano nukes in their bellies.
rednxrule 2 years ago
i hope you run for senator Peter and good luck if you do. i just hope you are not too late to make a difference. the u.s. ecconomy might be too far gone already
womtullymun 2 years ago
Peter Shiff has really aged in the past 2 years. Yolu Americans need to put this man in power as soon as possible before the crises gets too bad or he's too old to do anything about it. He is the only one who can save you Americans. Why is this man not in power?
PCoderch 2 years ago
morales, decency, logic. also cash for clunkers was meant to get convertable (electric or other) vehicles off the road and destroyed. buy a new gas guzzler steel box.
DINGLEtheBERRY 2 years ago
Excellent sense and insight, briliant man!
Egles1fan 2 years ago
Great guy to listen to. Solid common sense. Rare common sense.
averagejoe040 2 years ago
1 million seconds ago was 12 days ago
1 billion seconds ago was 1974
1 trillion seconds ago was 29,700 BC
Our national debt is over the 10 trillion mark and growing.
Obamas spending just since he has been in office will tax
everyone under 25 over 250,000 in theres and my lifetime
thats not counting all the debt we already have.
we cant afford obama or any one like him! I want to throw all the bums out! Dems and Rep's!
WE THE PEOPLE ARE MAD AS HELL!
ALAN KEYES 4 PRES!
greetingsearthlings1 2 years ago 9
Obama is a Monster!
homertalk 2 years ago
@greetingsearthlings1 Ron Paul is a great guy as well
David12King 1 year ago
profound insight, keep up the good work. more people need to see this
CensoredKnowledge 2 years ago
This is Government sponsored vandalism!
The vehicles have been purchased with tax dollars paid by citizens.
The vehicles really are property and assets of the citizens.
Its no difference then destroying any other public property.
Higher taxes are levied to compensate for this vandalism & waste.
In a true democracy, a vote on the decision of cash for clunkers program should have been made.
One way to show disapproval is to not buy from these brands till repayment to the taxpayers is made.
nokithecat 2 years ago 2
This is not a Democracy, it's a Republic. That's one of the main problems with people today. Know the Facts. And To The Republic for which it stands. You are only lead to believe there is Democracy.
BipolarProject 2 years ago
Republic,,, Republicans ! Democracy,,, Democrats!!! People fail to realize that democracy is their agenda that theyve been trying to force feed us and brain wash us with for decades!! They control most of the media and other entertainment industries! They ruined this country
nomoreliesfrom44 2 years ago 2
Paul/Schiff 2012 FTW!!!
liberalelephant 2 years ago
He is right on the money when it comes to cash for clunkers program!! Decent cars that run great are being destroyed!! I am environmentally conscious, and go out of my way to save, help the planet, but this program is BS!! By the time they kill, transport, and melt these cars, we just added more pollutants then keeping them on the road.
rob2049 2 years ago
If you listen closely, you will understand what Peter is really saying. This whole Political movement is not to help you and me, it's not to re leave you and I from some sort of pain. It's about them taking ultimate control. Do you folks remember what the Soviet Union used to be? That is the dream to the very least of these Political powers. Bush, Obama, They are one! One World Government. That is the goal. The is no place for YOUR personal growth in this plan. WAR will become something among us
BipolarProject 2 years ago
agreed. well said.
womtullymun 2 years ago
Communism lets try it ? :D
dutchcommunist 2 years ago
It has been tried, and has failed in history. Bring your red ass here bro. Well take care of your Woes. God will be the only one left to count the body's.
BipolarProject 2 years ago
I agree 100%.What are we doing as a nation.We are not addressing the real problems.WE MUST BRING BACK MANUFACTURING TO THIS COUNTRY!
The lack of good jobs are the problem.
dave4708 2 years ago
The clash for clunkers rebate is taxable. Come next year April 15, many of us will have a hefty tax bill.
olh1152 2 years ago
Maybe the Chinese continue to lend in the hopes that the USA /will/ dig itself into a deeper hole. lol
Eldanen 2 years ago
Bro, you are the smartest man alive... You have my vote... Love all of your videos that have been posted since last year and since before the economy ever fell... You saw this coming... God gifted you as a Moses of our day... thank you... Keep it up...
southstationband 2 years ago
KEEP UP THE GOOD WORK!! YOU ARE THE MAN!
NickLillyMusic 2 years ago
Peter, unfortunately sheeple are so dumbed down they qualify for assistance ..like a seeing eye dog...the sheeple need THINKING assistance.
Like the roman empire that collapsed,
while it was burning to the ground the peope had their ears tickled with ''bread and circus''...
If it all bottoms out...will the chinese repo the cars people bought under this fraud???
unsheepled 2 years ago
There is ONE way out of this economic mess that nobody ever points out. I am not endorsing it just recognizing historical precedent. We have the military, so did Hitler when he took over the Weimar Republic. The only way out of the economic mess is (besides decades of pain) if some madman finds a scapegoat (country with assets) and mesmerizes the American public into office.
thruid3 2 years ago
Oh you can shoehorn war, thats 100%, there WILL be some kind of conflict in the next 3 to 5 years as a result of this. Its almost written in stone.
sysopkc 2 years ago
google of money, that is way more than trillion
KhmerD0g 2 years ago
someone say it was a big deal that Beck said Obama was a racist? What's the big deal.
Not Obama nor anyone else made a peep when Eric Holder implied that the white community at large were all stodgy, fearful, bigoted people back in February.
yakmouth77 2 years ago
Nor robert Rueben's bigoted, spiteful, and OPENLY rasict remark toward "white construction workers". And making sure assistance didnt go to that ethinic group for reasons only known to himself. I guess they are in a special economic category due the thier race. haha
sysopkc 2 years ago
If this is the worst economy since the Great Depression- asshole media needs to get it straight- It would be a Depression again. Hello?
BLUEANGEL7777777777 2 years ago
No, it just means that SINCE THEN things have never been worse. It doesn't have to be a depression to be the worst economy SINCE The 1950's.
unleas3hed 2 years ago
The Cash for Clunkers program is BS. I own a 1984 Mazda 626. It needs work but I don't have a car payment. The repairs on my car are cheaper not only than a car payment but also cheaper to fix. Omg it runs better than the leon 2001 Ford Focus I used to own. The government is taking from the working class people and expecting them to pay back loans they cannot afford.Impeach Obama. He a Socalist with a wet dream of being Dictator.
HzlEyesCandy 2 years ago 2
i may be 16 and not under stand politcs yet it just seems like to me the USA is going down hill, beaten, and trashed. while the rich and politics just smile and wave from above.
But then again, i have no clue on politcs.....
civicmicro 2 years ago 2
can some1 plz explain to me isnt debt now good for individuals considering the economy is gonna crash and the currency is gonna become worthless. isnt now the time to be getting into debt so when it all hits u have all this stuff and u owe banks worthless paper.
vladito10 2 years ago
lol
interesting logic.
the economy isn't going to crash you nin-coom-poop. It will indeed be shaken up and restructured, and some companies which are not rock solid in the black will indeed falter or faill. BUT the economy isn't going to disappear into a black hole over night. "SERVICES" of some kind will always be around [i.e. manual labor jobs]. "GOODS" will still be around as well. An example, you think you can do without buying shampoo, soap or toilet paper? Someone has to make those.
plord28 2 years ago
i know it will be primitive. the sophisticated economy that we have today will collapse.
vladito10 2 years ago
Yes.
Someone has to make those... and they'll be made in China including shipping to the usa... and they'll STILL be cheaper than anything made in the usa!
The usa is doomed in a big way and with the second mortgage spike approaching (Alt-A and option ARMS) this is gonna get very interesting very rapidly.
Or were you dumb enough to think the crisis is over right now (Aug2009)?
Don't tell me you haven't done the numbers YOURSELF? LOL
flangelet 2 years ago
This is a disgusting and IMMORAL program paid for with your tax money.
There is no reason to destroy a reliable working car. How many needy people do you know that could use reliable transportation to drive to a better job? How many students could use a reliable car to go to school? How many people are driving unsafe cars because they can not afford to replace them with a new car?
I hope that the creeps in Congress and the White House that came up with this disgusting program rot in hell.
heywoodyoublowme 2 years ago
Hmmmmm, I believe the reason the "cash for klunkers" bill was signed is perhaps because the government wants green houses gases to decrease? Something like that?
drew335533 2 years ago
also reduce our energy consumption with more fuel efficient cars, at the same time stimulate economy to move back and forth. These guys are idiots if they really think they are destroying older cars and just burrying them in the ground. They are recycling the parts that can be recycled as well as the steel, rubber and glass. Idiots.
plord28 2 years ago
lol but u then buy a more fuel efficent car and then wat. ur in debt. thats the prob. the country is gonna collapse because the debt is overwhelming. these ppl want u to go into debt so u become a slave. thats the prob wit this policy. ur getting ride of something valueable so u can enslave urself
vladito10 2 years ago
True, there is indeed a risk involved. Actually there is a risk with anything we do for that matter. However, I have to disagree with you on "these ppl" want u to go into debt and be a slave. That's something a paranoid person would say, greatly motivated by fear. There are obvious positive merits, as well as negative merits. So in part you are indeed correct, but not completely. I think neither you nor I are fully versed on this issue, so our opinions don't really matter. Just speculation..
plord28 2 years ago
the effect that it will have on the environment is so fuckin small that it is retarded to do that. i mean completely fuckin retarded that even an idiot would know that it is stupid.
vladito10 2 years ago
Even the largest of oceans once began from a single drop, then another, and another, and so on and so forth. We do indeed have an effect on our environment by our own actions, which were motivated by our understanding and desires to either fulfill a task, or solve a problem. It seemed to be a good idea to convert oil to gasoline more than a century ago, it also seemed like a good idea for nuclear reactors for energy decades ago. But now we know diferently. When do we begin fixing our problems?
plord28 2 years ago
its obvious why they are destroying them .... only way you can get a new car is by a loan ... at interest.... who do you think this bneefits ? He is RIGHT about 1933 FDR, look up the agriculture act, they intentionally ruined crops to up demand ..... this is CHESS people .... not CHECKERS
HoRuSHoRiZoN 2 years ago
We only helped bankers and wall street with the stimulus. They are laughing their ass off at US taxpayers,..We've been robbed with eyes wide open,.WAKE UP
TheLivingDeadOne 2 years ago
my first car was a 72 vega station wagon not running for $100.00,. Al my cars were old bought outright cars, never in debt til I went to school and paid that off. No Debt. Less bills the better.
TheLivingDeadOne 2 years ago
CARS rebate may make sence for the car dealers, but it gave banks loans and interest payments they need to write down as income on there books, which they very well may fail to pay causing a default in the loan. I had better not hear again we are bailing out a bank, LET THEM FAIL! They are self serving animals! Dont buy anything you dont need, and take whatever you can out of your bank and use cash. This is all doing to get bad very soon,.
TheLivingDeadOne 2 years ago
Americans are funny.
America is 'perfect' so any critism of america is a personal insult to them. LOL
Grow up!
If you live in the usa, you live in a shit country with a bad government and a really awful future. Get over it!
G**gle "mortgages RECASTS alt-a option arms", look at a few graphs, get an adult to tell you what the big ideas mean, wiki the 'big words' and then go change your pants for clean ones!
That ONLY applies to the usa, sorry but it does, so have fun with it over there!
flangelet 2 years ago
not every american is a dope, just 75% of them. I have excellent credit, own 2 old paid for clunkers, and I only had a student loan as debt in my life. But many people fall for the bait CARS rebate & lies. How in is McDonalds up in a recession, does anyone know its cheaper to cook a dinner at home? After hearing we are 70% a consumer economy and we make nothing, why would I spend a dime? We all are not stupid, but this is a game & banks are winning because some are very stupid getting into debt.
TheLivingDeadOne 2 years ago
Respect Mr. Schiff.. respect..
Zenoah1 2 years ago
SPOT ON!
Enough Said.
ZenChat 2 years ago
You almost have to sell yourself out to serve as a politician. We can borrow so much that it will not come home to roost for 20 years. Let the people then deal with it. If Im not gone I'll be to old to care. Come on lets get the corporate banking mentality to infest it's disease on all of us.
jobedied 2 years ago
right on Peter Obama is spending more than ever, but Bush was right behind him.. its been really bad since Carter.
Raimunelarkutens 2 years ago
ya your right, but Wilson really screwed things up with the income tax and the FED.
ScottcNehrer 2 years ago
the government is ran by jews and all of america says its true so why do we put up with it ? arabs dont these days or does anyone else alot of people stoped buying into jew companies ? well they are very smart period
midnitesquirldog 2 years ago
Food for thought. Good stuff Peter.
mfgunit 2 years ago
This is a great project, Clash for clunkers is doing it's job. It's cleaning the environment, and at the same time stimulating the economy. Notice no more recession talk in the media. Kenyesion Economics is obviously working creating the upper trend overall.
bugsy121086 2 years ago
You must be a car salesman or you are smoking the tailpipes of those clunkers.
buzzz121 2 years ago
You're being sarcastic right? You are wrong on every single point above, so I have to assume you are being sarcastic.
BTW, if C4C was all about 'cleaning the environment' & helping the whole industry then why was the wt limit set just at the point that included GM/Chrysler trucks & vans, but excluded a butt-load of Ford trucks/vans? Older Ford trucks/vans don't pollute? Or is the whole program designed simply to help the govt/union corps while dissing the last major independent auto mfgr?
Jaycephus01 2 years ago
bugsy, I hope, for your sake, that was sarcasm.
jgdesign 2 years ago
If you have a clunker to trade in, DO IT! You might as well because you paid for it anyway, along with EVERY taxpayer. The rich, middle-class and poor taxpayers. Unfortunately, it was reported that more than 25% of the new car sales in this program will be repossessed within three months.
dantheleo 2 years ago
It's just a mini version of the whole housing bubble brought on by Fannie, Freddie, and the Fed. We're getting sub-prime car buyers, and next we'll need a sub-prime car-buyer bailout.
Jaycephus01 2 years ago
Another disgusting point from Slate:
Was spending $1 bn a cost-effective way to achieve the CO2 reductions? Assuming that each consumer keeps his car for 10 years (??), then the total savings should be a little less than 5.7 million tons of CO2. That means each ton of CO2 would be worth about $175.53 to the U.S. govt. As the Washington Policy Center pointed out on its blog in June, a ton of CO2 currently goes for about $17.50 on the European Climate Exchange.
It wasnt really about CO2...
Jaycephus01 2 years ago
Please don't run for Senate and join that cesspool.
Noisycowonline 2 years ago
govenment never learns from past mistakes. none of the right people are running this country
SimpleEquation 2 years ago 3
good job Peter.
apatriotsdissent 2 years ago
Buy more silver!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
blabblab1212 2 years ago
I think it bull when our President Obama tells us to shut up. I think is bull to see that our Congress is totally disconnected with the American Public. What is next, jets for clunkers for Congress to buy?
nonesence1965 2 years ago 4
I dont see how anyone could fall for this cash for clunkers, but I have to say i fell for other things the media manipulated us for.
murderface74 2 years ago
Short term gain for long term Pain= Classic, Sad but Classic and true
jeremy8080 2 years ago
I have been following your blog for quite sometime and it sickens me to see how our government is wasting away our future. Whether Democrat or Republican, it really makes no difference. They are all the same. They are puppets and so are we. Unless we change our attitudes and spending habbits, we will be worse off in the future. Thank you for educating the masses. There are few people with the guts to speak out as you do. I hope you make the US Senate.
miamirules101 2 years ago 2
Glenn Beck? Really? LMFAO!
From down 6% to down 1%. Yes - that is good news.
Your ideas failed under Hoover. Spending less is not the answer to help demand.
Let me guess - high school drop out?
mbjl1758 2 years ago
Let me guess, college drop out?
Hoover did exactly what Obama (Bush jr.) is doing now... stimulus, prop up failing companies, and grow the size of government. He was the OBAMA of his age! FDR actually ran and won on the promise of CUTTING the size of government by 25%, a promise he never even attempted to keep. Sort of like Obama's promise not to raise taxes on 95% of Americans. What a joke.
Jaycephus01 2 years ago
He says much that is correct, but oversimplifies. For example, the idea behind the "cash for clunkers" program is to reduce US fuel usage by replacing cars with poor gas mileage with cars that have good gas mileage. The reasoning behind the "stimulus package" is essentially Keynesian - flood an economy in recession with government money to leaven the "boom and bust" economic curve.
I'm not disagreeing with Schiff. But he does have a vested interest, and his commentary is colored by it.
DrCruel 2 years ago
the stated idea may be better fuel economy, but i think its actually to help the unions who supported obama and create phony consumption to make the numbers look better
musclegrab 2 years ago
I'll grant that, Musclegrab.
DrCruel 2 years ago 3
Bingo.
BEST CASE, if people keep these cars for 10 YEARS, we paid at least $170+ per ton of CO2 that we MIGHT eliminate by this boondoggle. One ton of CO2 is trading at $17 on the European Climate Exchange. We overpaid by AT LEAST ten times!!
Of course, once you know that a lot of Ford trucks/vans were excluded from the program by setting a wt limit just right, then you can conclude that this was to help GM/Chrysler, not the environment or the nation as a whole.
Jaycephus01 2 years ago
and now it turns out that 8 out of 10 vehicles purchased were built by Asian companies (many right here in the US), so the attempt to help union workers has backfired
musclegrab 2 years ago
But if the "boom" or "bust" is inevitable, what is the point of trying to prevent it. I think I see what you are saying, but sometimes simplifying helps people truly understand what is going on.
It DOES take many cars that function well enough (and have no debt attacheds), and asks the consumer to spend money that they don't currently have (otherwise, they'd have replaced their clunker anyway).
It's absolutely INCREDIBLE how stupid (I hate to use that word) the American public is.
JohnLeeMD 2 years ago
You missed the point entirely. He KNOWS the reasoning behind both of these things. In the case of cars, we've essentially paid, at minimum, if people keep their cars for 10 YEARS, $170+ per ton of CO2 reduction at the same time that a ton of CO2 is trading on the Euro Climate Exchange at $17. Terrible use of $3 Bn dollars. And Keynsian crap got us into this, credit-expansion inflated the 'boom', and the bust becomes inevitable. Flooding more money in is just setting up another, worse crash.
Jaycephus01 2 years ago
exactly.
government intervention often hurts the environment. Check out Cadillac Desert if you don't believe Congress is oblivious to the consequences of its actions.
musclegrab 2 years ago
Your right. Who wants to spend $30,000 on a truck your going to use as a work truck. Wouldn't it make more sense to buy a used truck off the side of the road for a few hundred? You may have to put a few more dollars into it (maintence work) but you OWN it.
I bought a truck off a guy for $400, 6 years ago. It's still running and hauls and is making me money. If I had bought a new truck I'd just now be paying it off. While even with maintenace costs I've made out like a bandit.
deadman12078 2 years ago 4
Realize of course that, as Schiff is a small independant broker for European and Asian stocks, that he has every reason to scare people out of (a) investing in US stocks and (b) leaving their money with large American investment brokerage firms.
Not that he isn't right about a great many things. But he's not an entirely disinterested observer.
DrCruel 2 years ago
On the other hand, he's not in the usa where some redneck with a big foam #1 finger on his gun hand might waste him for telling the truth.
flangelet 2 years ago
It's SO unamerican to tell the truth these days, isn't it? Ya must stay on-message, sheeple!
What does Schiff have to lose from telling it like it is in the more peaceful environs of Europe where the smarter people are?
Your f dollar is damaged!
If your brain is too damaged to twig this simple fact, while everyone else in this world is trying to get out from under the US Treasury (usDollars, dummy!) Bubble, then you deserve all that's coming to you.
What do I care? I make money either way.
flangelet 2 years ago
it's rediculous how much sense Peter Schiff makes, it's so sobering it's scary
sappypngn 2 years ago
You can not borrow your way out of debt. The only ones who have and continue to benefit are the Central Banks and the IMF all privately held. The good ole boys gang.
DaPoet2 2 years ago
Peter is right, again!
Most people don't realize that FDR destroyed MILLIONS of pigs to keep the price of pork high. That invariably inflates the dollar. Collectivists (communists, fascists, socialists) have always tried to control prices against the market. And they've always failed. This is well documented. Thomas Sowell points this out as a factor which prolonged the Depression - "Basic Economics" by Thomas Sowell.
thomaserossi 2 years ago 2
I own a "clunker" that is 16 years old with 155K miles. The AC doesn't work and the transmission is iffy. But I'm trying to hang on until I can save cash for a newer "clunker." I refuse to have other taxpayers pay a penny for a car that I buy and I refuse to go further into debt. Am I the responsible one here? Or should I just give in and let everyone else help pay for my new car and don't worry about my debt? More Irony - my taxes are being used to pay for someone else to buy!
martinidick 2 years ago 3
The government is giving alot of people a chance to trade in a old car for a fair price. It is the consumers fault for buying jap cars or for buying a car they cant afford. Why would we blame the government for someone buying a car they cant afford?? The government is giving US the money it is our job to buy a affordable american car to make this program work!!! Im not a fan of big government, but when do we the consumers take responsiblity for our own actions??
MASON091 2 years ago
Cash4Clunkers is a trivial billion dollar sideshow. Most of the money is going to Ford, which builds outside the usa, & Japanese automakers who aren't american either. Nice going exporting more wealth outta your embarrassing shithole, numbnuts!
Maunufacturing in the usa is made too expensive by workshy cretins who demand costly benefits to make shoddy, crudely designed & badly finished goods. Who'd invest in the usa? It's Somalia with FrenchFries... & an age of rolling blackouts approaches! LOL
flangelet 2 years ago
Consumers are ALWAYS right and they're voting with their collapsing dollars by buying high quality, technologically advanced and fuel efficient vehicles which AREN'T backward ugly crap american cars.
Capitalism works both ways, ameri-creeps. The usa is simply inferior as a manufacturer and foreign goods are streets ahead.
LOL american hasn't been #1 in *anything* since 1952... have you ONLY JUST NOTICED?
flangelet 2 years ago
We have the most expensive health care in the world.
We have the most expensive weapons.
We have the most expensive politicians.
We have the richest CEO's.
We have the most sophisticated propaganda machine.
We're #1!
We're #1!
yt5454 2 years ago
You're right.
moniequa 2 years ago
You literally are a LIAR and an IDIOT. Is there some truth and stuff I agree with in what you said? Sure, though you said it in the most insulting way possible. But the US currently produces TWICE what China does with LESS total CO2 production. It would help your case to actually know what you are talking about. Some of the American cars/trucks are rated above the best Japanese/German cars in quality, so you are just coming across as a fool and a tool.
Jaycephus01 2 years ago
The usa doesn't really have as much manufacturing any more. It 'outsourced it' meaning it exported it to China last presidency.
NONE of the usa's crap cars are anywhere nesar as good or rated as highly as European or Asia vehicles.
For years, us manufacturers didn't give a shit about CO2.And suddenly in the last few months, they care?
You are badly informed as well as thick!
That's why GM etc went BANKRUPT!
Haven't you been paying attention, dummy?
flangelet 2 years ago
GM also went bankrupt because the company had to pay for the health-care for the workers in lack of a socialized health-care system.
Siddis33 2 years ago
Just goes to show that the usa cannot ever do the right thing... and now with GE lokking like its going bankrupt, the usa is AGAIN teetering on the edge of becoming New Somalia!
I love it when americans try to do the right thing... then there suddenly appears an army of shits screaming the opposite like "NOOOOO! Setting children on fire is a GOOD thing!"... it's called political lobbying and it is hilarious!
flangelet 2 years ago
they arent that stupid. they know what its gonna do and they r doing it on purpose. search up new world order on utube then ull c this is just a small part of a bigger and scarier puzzle
vladito10 2 years ago
No one 'made them' pay the health care. It was offered as part of their remuneration. The ones to blame are the management of GM at the time. Remember that 'someone' always has to pay. The costs are a lot more greater under a socialized health-care system than a user pays!
topshotmx8 2 years ago
topshotmx8
Ok, they had to pay for health care as a result of the agreement with the union. In any case, this would not be necessary if health care was provided by the state. Where have you got the data to support that a state run health care system is more expensive? The US has among the worst health care services in the western world, and among the most expencive ones, if not the very most expensive. Where is your reasoning?
Siddis33 2 years ago
I'm sorry conservatives! But I'm damned tired of giving money away to multi-national corps that are no longer American corps and are not creating any jobs in my country! You talk about buying Jap cars? Well the Japs opened a plant in San Antonio Texas and put Americans to work! Plus they made a profit while doing so while so-called American car mfgrs claimed that the only way they could make a profit was to move jobs over seas. Then they still failed!
osensei2987 2 years ago
corps dont take yo shit government takes it. democrats r more likely to tax u more idiot.
pimps11 2 years ago
I'm sorry! But most corps are multi-nationals which are in essence foreign entities doing business on our shores! But Rush Limpdick has convinced you and even liberals that protectionism is evil. Well guess what dumbass? Trickle down may have worked for Reagan but in the 21st century "Trickle Down" has become "Trickle Out". Money goes to the multi-nationals and they create jobs in Mumbai.
osensei2987 2 years ago
who gives it to corps
of course the fuckin government
democraps and rephuckins
pimps11 2 years ago
You're response assumes incorrectly the a government actual exists and is in control! Maybe they control you and I. But multi-national corporations are in control of this damned place. And politicians that don't follow their agenda well be disposed of handily. So party is irrelevant. The ppl who own the trillions are the ones calling the shots!
osensei2987 2 years ago
The US economy has been wrecked by corporate schemers and Wall Street execs twice in less that 8 years. They've retired on the money that they've ripped from investors and you're still stuck in the 80's complaining about Big Government! In the mean time our Manufacturing Industries are gone, our Hi Tech Industries are gone, education is a joke, Service Industries are outsourced, Wall Street is a Ponzy scheme and our politicians are all globalists!
osensei2987 2 years ago 2
You should be aware that even the best Japanese car companies have had to take Billions from the Japanese govt in 'help' throughout their recession. I'm not sure you can claim that they are truly making a profit. The San Antonio plant and Honda's plants as well are NON-UNION. The reason Ford/GM needed to build plants overseas is to get out from under the thumb of the UNION. When GM can't layoff a union idiot, & has to pay him $31/hr to sit on his ass playing cards, then how can they compete?
Jaycephus01 2 years ago
great vid.
doorman360 2 years ago
Bush and now Obama are obviously destroying the economy on purpose to bring in a world bank for the bankers...and eventually a more centralized financial system with more power for the people that caused this.
Watch "The Obama Deception" to learn more....sigh.
BECAUSE...who could be this stupid?!
Obama and everyone else know exactly what they are doing.
They're traitors.
alex3914 2 years ago
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BlueSkies360 2 years ago
Hmmm...good job with the cash for clunkers deal.
Now that I can't find a card I can afford I'm just gonna buy cheap in Germany and ship it here.
Fucktards...
Vaxxel 2 years ago
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I have an idea instead of you tree hugging fucks, how about you donate these unused vehicals to somebody who needs them. who could use some wheels to work or is having a hard time in life. And stop worrying about growing a extra tree or flower...
plane45036 2 years ago
I just talked to my friend the other day about this cash for clunkers deal. He had never heard about it, because he was too occupied with watching Jerry Springer and American Idol, I guess.Anyway, I explained how the process works. I was appalled when he actually told me that it didn't seem like a bad idea! Can there really be that many people among us who think that DESTROYING an unimaginable amount of PERFECTLY working vehicles is a GOOD idea?!?! Imagine the future inflation on these used cars
tatecheddar 2 years ago
I know, its sad. My grandpa who is a doctor, thinks its a GREAT IDEA, and he's amazed at how great Obama is doing.
I bite my tongue and sit quietly.
Anythingwilldo41 2 years ago
I look at it as people getting there taxes back.
pandabead 2 years ago
No, I look at as the gov't telling people that either they will buy cars, or the gov't will take their money and buy someone else a car with it.
1984IsHereAgain 2 years ago 3
Ok pandabead... Apparently you don't understand. This has nothing to do with us getting taxes back. This money being spent by the government is going to paid for by US with our TAXES. This isn't giving anything back. All this is doing is taking more money out of your check and putting you in debt by way of a new car.
tatecheddar 2 years ago
Do you know what being ironic means. I was being sarcastic. MY goodness. I was making a sarcastic joke because I am so pissed about all of the spending. We are going to end up being the Weimar republic. even warren buffet spoke out and told Obama he is creating a banana republic.
pandabead 2 years ago
The American people as a whole are following Schiff's advice. They are cutting down on personal debt, cutting the budget, working harder and buying basics. If there is any turnaround in the US economy it is the suddenly frugal, sober US consumer/taxpayer who will get the economy going--not the wall street mafioso or the DC Chicago mob.
This guy should first be a senator out of Connecticut and then Secretary of the Treasury--he has what so many hacks lack--common sense and a pro-US attitude.
Moorka15 2 years ago
its funny how people see things. wrong becomes right and left is up and right is left. blame whoever you want i guess. everyone is living in a fantasy land.
externalpower 2 years ago
this dude is right about everything he said on here . and no one wants to see it
broussardbj 2 years ago 4
go PETER!!!
VirginianAmerican 2 years ago 3
thanks for your words of wisdom you should RUN for president I would vote for ya in a hurry!
hylander89 2 years ago
I'm hoping that the plan is to replace Cris Dodd so he can run as VP for Ron in 2012.
KenMacMillan 2 years ago
whos Ron?
hylander89 2 years ago
Ron Paul
KenMacMillan 2 years ago
I wonder if we are sending the dead clunkers to China so they can make some cheap crap and send it back over here to WalMart.
pmarie2003 2 years ago
americans dont like the idea of "getting it over with" thats just my opinion im sure there would be many people complaining about policy if our government werent spending all this money. but im with schiff on this one. besides i dont care to much for money (food + water + guitar = happy)
boundtogetdown 2 years ago
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BlueSkies360 2 years ago
If we can just get another 60 or so like minded people in the senate we could stop these political elitists. We must support people with common sense and principles before we no longer are able. Obama will have us all in shackles before long. Long live the republic or the United States of America.
regulatedtodeath 2 years ago
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be2112 2 years ago
I believe in free speech,which Schiff is doing. I'm sick and tired of seeing our rights stripped from us, the same as been done in Europe.History will judge each administration.
debtfreemode 2 years ago
why is all the blame going towards obama? I think that, that rat bastard bush had a very very big part in this.
skiddy8619 2 years ago
They're both at fault.
jetmanrun 2 years ago
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BlueSkies360 2 years ago
this clown is done.the wheels are falling of his garbage forecasting.he wants the economy to fail no matter what. he is the real joker.stay positive dont follow this clown.
EV3260 2 years ago
Screw the haters Schiff...Chin up, your fans have followed your spouting of truth and we will not stop as long as you keep making sense.
gotveggieoil 2 years ago 3
Sorry bud! You lost your credibility when you said you were going on Glenn Beck. No serious student of Economics turns to FOX, and especially not Beck for financial advice.
mrekbass 2 years ago
The stakes are high, the situation is serious - and Peter Schiff is exactly who we need in office. Let's get him elected - I believe Peter Schiff is a True American Patriot. We need people like Peter - independent, objective and logical and I believe loyal to our Constitution - to lead our Great Nation.
gwuengr2 2 years ago 3
I hate listening to this guy talk because it just depresses me even further. I've been out of work for 5 months. I'm ready willing and able to work, but nobody is hiring. If I can't find a job with a mechanical engineering masters degree, how do I even contribute to the economy? I won't be able to. I'll be out on the street homeless after my savings run out in 10 months hoping somebody takes a gun to my head and puts me out of my misery.
etbitmydogucf 2 years ago
hang in, hang in, hang in, keep da faith.
rickbar123 2 years ago
You can call this "austrian economics" or or you can call it what it actually is.... COMMON SENSE!!!
z8it 2 years ago 2
I don't think that they think (obama and the democrats) believe that the recession is over. And wasn't Obama original accused of being to down to reality early on about the current recession, and was attacked from the other side because of that? And now he's being attacked for being to positive. I wish the repub's could make up their minds. Or is this just politics as usual, and blame the other side if things are looking to rosey for them. sigh.
And I think cash for clunkers is a good idea.
EdyKelDev 2 years ago
Peter, WHY are so many people so blind to this? Or is it that they just don't care? Maybe they don't know enough to really understand what's going on...
Todd82TA 2 years ago
This reminds me of Mao's steel project of melting all the pots.
Entropy137 2 years ago
I love this guy. Such sound thinking. Common sense. Debt = bad.
bluetablepainting 2 years ago 3
A twice Nobel prize winning economist made the point that disagrees with you here. There is a quality to that debt. If you get debt and buy a TV, then that debt = bad. If you get that debt and use it to create value that will create returns then that debt = good.
The government should have focused on a technology bailout that brought us technology that we could sell by researching that technology and putting it in the open source domain under some kind of limited USA use act.
etbitmydogucf 2 years ago