Peter schiff at Kilkenomics Kilkenny Ireland 2010 Part 1

[ItsAllAboutGuitar]

These people keep coming up with slavery as a counter example to free markets, but slavery isn't part of a free market economy. Furthermore, I'm taxed at 50% and the money is taken from me at gunpoint. That's a form of slavery. We supposedly outlawed slavery, but that document called the constitution has long been ignored.

[treysparker]

@thegeneraltheory

Says the Marxist.

Could you be any more brainwashed?

Tip:

If you're going to have a bias, dont make it obvious by typing "Karl Marx" under "Name" in your profile.

[IntellectualPopulist]

Schiff is riding this "...i predicted the recession" stuff way too long

[treysparker]

@IntellectualPopulist

In this instance i think it was needed, because they were specifically referring to the causes of the collapse and the Korean made a personal attack against Peter and his knowledge of economics.

Peter didn't just say it out of the blue....

[IntellectualPopulist]

@treysparker If he knew anything about Economics, the discussions would be less talking points and more technical

[IntellectualPopulist]

@IntellectualPopulist If he knew anything about Economics, the discussions would be less talking points and more technical

[KukriMesser]

Schiff is a loud-mouthed fraud leading around an entourage of dogmatic, ignorant, nitwits. Ever talk to a free market fundamentalist nutbag? Its like you are insulting their religion.

[treysparker]

@KukriMesser

Wow, you used absolutely no evidence at all to back up any one of your ad hominem attacks.

Well done, you're an idiot.

[KukriMesser]

@treysparker Thanks for proving my point. I'm not sure whats funnier, the fact that you think Peter Schiff is a legitimate economist, or the fact that you actually had to attempt to defend the honor or your dear leader.

[jhassett2]

It will take more than bullshit like this to help us now.I like David McWilliams but I think he is a little too fond of the spotlight.His organising of this attempt to blend a comedy festival with a serious discussion of our economic ruin smacks of paddywhackery.He likes showbiz too much and it tends to take away from the import of what he is saying.And then we wonder why people don't respect us or take us seriously.Paul Somerville or Constantin Gurdgiev are a more worthy advocate for Ireland.

[TehFlamingLipz]

Arrogant ass economists. How the fuck have we allowed them to survive this long?

[crystalcalia]

When people change the subject during a debate... it means they are losing...

[TheBlitz1]

haha peter schiff fucking owns all these fools

[worldgoingtozero]

I love it when Peter stirs up a hornet's nest!

[aviomaster]

YES CHINA since 1990's deregulated their economy , and look where they are NOW , WHY is CHINA so powerfull , CHINESE workers build stuff in private companies which everyone around the world uses, on LOW wages , CAN Europe and USA compete with CHina ? NO

Montenegro there is no EUROPEAN company which has the money to build highway in that small country about 170 Km highway in the mountains , Guess who found the money , CHINA

[joepeeler34]

@aviomaster China started liberalizing their economy starting in the late 70's. It started well before the nineties. I think you put to much stock in low wages. We had the highest wages in the world for many decades and were simultaneously the world's largest exporter. Also, Germany has a positive balance of trade with China despite much higher wages. The reason that China is successful is that they have a savings and production economy as opposed to the U.S.'s borrow and spend economy.

[tonybonez]

Is that Ha Joon Chang on the right?????

[CytherLynx]

lol... these guys are unbeleivable.

oh oh oh... free market equals slavery. end argument *schiff tries to explain how absurd this characterisation is**

NO end of arguemtn!@!! '

fuck it's frustrating being right in a minority position like Austrian economics.

truly, the situation is like being an atheists in the 1800s. knowing you're right, but being surrounded by an overwhelming ignorant force.

Austrian economics > Keynesian economics

Classical liberalism > statism

[2000drpain86]

I can't believe people are still listening to this quack. Peter has had everything wrong since the recession took hold, there has been no hyperinflation or bankruptcy of the US. The US has massive savings, produces more than any other nation and has very low external debt compared to other countries(94%). I feel sorry for the people who invested with him, which would of been me if i lived in the US in 2007.

[CytherLynx]

@2000drpain86 you idiot. thats because it keeps being delayed with the bailouts. but every time it is delayed, it will be worse when it eventually does it...

massive SAVINGS?! .. what planet are you on? google: us debt clock

also google 'country debt' then go 1st result

read :'economics in one lesson' by hazlitt. read amazon reviews. it is like atheism in the 1800s, shunned but completely correct and the most reasoned position.

to bad a population is more manageable with a fiat currency.

[2000drpain86]

@CytherLynx I used to be a Peter Schiff fan and have read the book you mentioned and many more including all of Peter's. US factories produce $1.72tirillion china $1.6trillion worth of goods a year, so yes US has production. US house hold wealth subtracting debt is $54.2trillion. The average savings and certificates of deposit is $52,993, average investments in stocks and mutual funds is $92,090 and US corporate savings $1 trillion and they invest $1 trillion of there saving

[2000drpain86]

@CytherLynx in new products every year. The US has vast savings and is the most productive nation.

US has low external debt only 94% vs Germany's 155% Hong Kong's 311% and Luxembourg 3854%

[grumpone]

The Chinese bitch was scared as were all others for the truth that was coming out from Peter's lips. You have to start bullying and insulting someone who speaks the truth, otherwise you cannot shut him up. Can you imagine if Peter acted like that Chinese mangina? They would have dragged him off the stage. Not only are these people dangerous demagogues, they are tyrants too.

[450984]

Way to go Peter, some just will NEVER GET IT!

[xanaduisfaraway]

That Idiot is a Korean, He is currentlz teaching in Edinburgh, how do i know..That idiot is from my University.

Chinese Laugh at this idiots words about economics, have u ever seen chinese behaving like this, they are aggressive but they are polite at debates.

Fucking South koreans are US puppets, they will be bailed out Pretty soon by IMF

[bonfirejovi]

lol, why are they are talking about slavery and genocide? what has that got to do with free markets?

[aretlev]

@bonfirejovi

Who knows, man. The underlying implication that Schiff somehow condones slavery by his praise of economic growth in that period is only something I'd expect a kid to say. I expected smarter things out of their mouths. Oh well.

[grumpone]

@aretlev They say these thing BECAUSE they think their audience is dumb as fuck and they will buy their manipulation hook, line a sinker. I am sure some did. These manginas would not manipulate like kindergarten kids IF they thought people will see through them.

[joepeeler34]

@bonfirejovi Because they hat free markets so they try to associate anything negative with free markets in an attempt to discredit. They want to imply that slavery is an offshoot of economic freedom. They don't want to acknowledge that slavery has existed for a time in every kind of economic system and governmental system ever devised. Slavery is a disease of the heart, not of governmental or economic systems.

[bonfirejovi]

I expected better from chang, he knows very well that the Government stopped with monetarism in 84 because it was technically impossible. The Chicago school haven't even followed monetarism for the last 20 years, they have been following RBE theory. Oh and monetarism did end stagflation or maybe he forgot.

[bonfirejovi]

isn't that ha-joon chang?

[xxashyy]

BTW isn't Ireland in deeper shit because of they're reckless spending over there? Didn't Germany bail them out all ready?

[xxashyy]

Schiff pwns this guy.

[redryan5048]

Dumb chink looks and sounds so stupid...

[DodgeVip3r]

This guy is a fascist Shill, Webster Tarpley completely refutes Schiff and all his Austrian and Chicago friends.

[MerrillMedia]

@DodgeVip3r

Let's see, fascism is the state owned means of production with a nationalist expansionary propaganda agendal; Schiff is a believer in free markets, non-interventionism and is a critic of government and central planning....how is he a fascist? Webster Tarpley is a tool that blamed the cause, severity and duration of the Great Depression on the Austrian School and free markets...lol. Mises and Hayek predicted the depression just like Schiff predicted the modern downturns.

[DodgeVip3r]

@MerrillMedia Peter Schiff is a puppet of Wall st he supports less regulations so the Wall st bank robbers have more power to loot people. He supports a weak Government that has no say in the regulation of the currency and market which goes directly against the United States constitution. This "free market" that Austrians and Keynesians talk about is nothing but a mythical term coined by the Corporate Fascists. There is NO MARKET(but a Corporate Oligarchy) and it sure isn't FREE.

[MerrillMedia]

@DodgeVip3r

Peter promotes returning the power of currency to its constitutional regulators, congress. The one job that congress is supposed to actually do they waive their right to the central bank. And to insist that in the absence of government there would be no voluntary exchange is the most rediculous thing I have heard. I seriously doubt the people you blame for our problems are walking around with Ayn Rand or Hayek in their pocket. The corporatists use government to their gain.

[DodgeVip3r]

@MerrillMedia BTW it doesn't take a genius to predict the collapse of a Ponzi scheme economy. Tarpley predicted it with much more accuracy, the same people who created this collapse knew it was coming yet lied to the public so sorry guys your Austrian leaders are no Nostradamus as you'd like us to believe.

[BarryOcuda]

now i've seen everything... kim jong il just attemted to step to peter schiff and got his ass handed to him, all while some leprechauns spouted revisionist history and other assorted lies.

it's become clear to me that peter schiff is like the chuck norris of the new millenium. he'll kick your ass anytime, anyplace.



[mrdoonbeg]

@BarryOcuda exactly

[justinshafer817]

Debate is always fun, especially for people who cant handle it... Which they both can... Lets all lighten up on the racist comments.

[ph03n1xamb1t]

@BarryOcuda

Hey there redneck shitkicking ignoramus. Stick to watching fox news or educate yourself. Kim Jong Il is the only name you know handed to you anally by rush limbaugh. The man speaking was scottish not a leprauchaun. Get back in your truck you cheeseburger eating fuckstick

[joepeeler34]

@ph03n1xamb1t Was the socialist knucle-dragging Scot wearing his kilt?

[itsanameisntit]

@BarryOcuda Where did that term "Ugly American" ever come from?

[BarryOcuda]

@itsanameisntit from jealous foreigners.

[itsanameisntit]

@BarryOcuda Jealous of what? Your PISA scores (25th out of 34)? Korea is 1st yet you make fun of them. Your crime rate? Prison system? (25% of world prison population, but 5% of world population). Obesity? (No. 1). Life Expectancy at birth? (49th). No.1 Debt to income ratio, almost 3x No.2 Japan? 46.5% World's military expenditure? George Bush? Sarah Palin? I rest my case. Rock Star Nation!

[BarryOcuda]

@itsanameisntit you really are dumb, aren't you? you asked about a phrase which has been around for many decades, yet you use an odd combination of cherry picked current statistics in an awkward attempt to refute a point I was not even making. I do agree America has been heading in the wrong direction for quite some time, which is why we must return to the principles which made us so prosperous in the first place.

[BeholdZeus]

@BarryOcuda Actually Joon-Chang was/is absolutely correct. The 2008 collapse happened as a result of too little regulation, not too much. Even a monkey know that. Yet Schiff maintains the opposite - as befitting any member of the looney Austrian school.

[ibelucky1]

The asian guy is a rich man from a third world country what does he know about US economics he possibley in with bush...?

[thunderballacks]

This kind of show would get fuckwits in US or UK too but thanks to Fintan O'Toole for confirming our stupid irish moniker. What the fuck has slavery got to do with that discussion. Peter Schiff could have replied "Yes, and your surname means cock but thats not relevant to the discussion either."

[barrya78]

thanks for uploading!

[chimpanchu]

The asian guy is so annoying. Not to mention he's acting gay too!

[ukjw2]

this is just flat out annoying....i cant understand the Asian guy even

[mikfature]

I had to check twice before I realized this mop head was a Korean commie. Anyway all those Gweilos who called him a chink/chinese. i could understand, you Gweilos all look the same to the average chink/chinese as well....

Peter is a smart fucking Gweilo.....!! He's the fucking MAN!!!

[PAZ0619]

R u cantonese?

[clarisd]

Slavery was brought to the America's by The Europeans! Europeans were the driving factor to murder all the natives and dividing up the lands. FACT then they fought with each other to gain more lands. We were not the Republic until 1776, Columbus landed in 1492, so 284yrs ya think they called themselves Americans we could drop the Amercans killed all the natives. The Irish are the slaves now of The IMF that destroyed their Economy and so keep living the lies

[treysparker]

That korean guy's acting like a 5 year old. I honestly...have no idea how Peter is able to stay so calm in a room full of idiots. Its like Peter Schiff was right all over again...

[Chrisi313]

More than one way to skin a cat, I wouldn't be 100% with him but I'm sure an economy by Peter Schiff would be an amazing, prosperous place.

[ADoseofReality1]

That Korean due deserved a good slap. What a prick. As usual Peter is light years ahead of the panel. It's gotta be frustrating as hell for him.

[51czechmate]

Who is that maniac to the left of Schiff? God help us!

[clarisd]

Slavery was brought to the America's by The Europeans! Killing off the natives was the past time for all the Europeans. Europeans were the driving factor to murder all the natives and dividing up the lands. FACT then they fought with each other to gain more lands. We were not the Republic until 1776, Columbus landed in 1492, so 284yrs ya think they called themselves Americans we could drop the Amercans killed all the natives. I am 1pt native, 1pt French, 1pt Brit, 1pt german so you tell me

[icemaneu]

That Asian guy is not a Chinese. He is a Korean. Korea and China are 2 different country and 2 different race. That Korean dumbfuck is a socialist.

[clarisd]

Slavery was brought to the America's by The Europeans! Killing off the natives was the past time for all the Europeans. Europeans were the driving factor to murder all the natives and dividing up the lands. FACT then they fought with each other to gain more lands. We were not the Republic until 1776, Columbus landed in 1492, so 284yrs ya think they called themselves Americans we could drop the Amercans killed all the natives. I am 1pt native, 1pt French, 1pt Brit, 1pt german so you tell me YKTT

[yushaos]

I am Chinese and I think that Chink totally got it wrong and disrespectful.

[PureAdrenaline97]

Chink is totally wrong and ignorant.

[2237lemon]

asian guy must've drank a little too much irish beer bcz he gets so close as he tries to talk... like most drunk ppl do when their eyes fuzz over... thats what some people call a personal space invader... an atari alien

[haveabeer123]

@2237lemon I think asians have a smaller personal space than westerners... but then again this chincky should know better since he lives in the US.

[2237lemon]

for a comedy economics festival.. it doesn't seem very funny... rightfully so bcz it isn't funny .. time to sober up lushes and stop drinking the gov't alcohol., and there 'need' to print and prop-up in a continuous destructive cycle.

[connorculleton]

LOL Fintan O Toole is such an idiot...

[clarisd]

@connorculleton totally agree As for the slaves in the America's what they didn't enslane there, the Europeans brought with them. Columbus lands in1492, 1776 the Republic is formalized and many wars were fought between all the europeans for control, all the while killing most of the natives. These so called knowledgable men are HACKS they are agenda hacks, they will not even merely debate the issue.

[stealthpakfa]

stop calling the asian a chinese u idiots, its a korean rat. chinese are too smart to support keynesian crap. chinese economy is gradually moving towards more free market and less govt.

[thunderballacks]

@stealthpakfa You are absolutely right mate. The Chinese are too smart for that shit, they are doing things right. In theory a democratic country should be able to have a smaller state and therefore a better economy, but its going the other way now, as Peter has said before the westerners are adopting the socialist policies and the Chinese the capitalist ones.

[JoeJC]

Fintan O'Toole of course pops his expansive head into the debate and tries to negate the fact that free market capitalism brought America supreme prosperity by attributing this to the destruction the natives and the existence of slavery!!??

[Steve83B]

@JoeJC

You noticed that too huh? Talk about a non-sequitur.

[yjfoo23]

The cambridge asshole is called Chang Ha-joon. He's a korean SOB, not a chink.

[haveabeer123]

@yjfoo23 Isn´t this guy the one who wrote: "Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism"

I just read the book like 2 months ago. He hates free trade and countries like the UK and USA. He states in his book that countries like the UK and US only push for free trade when they have strong companies that can profit from new markets in detriment of local nacent companies that need protection and nurture like a child would until he´s strong enough to band for himself.

[yjfoo23]

The rude asian is a Korean pig. Let's not call him a chink no more! I feel ashame as an asian as it is already!

[bjarnet3]

I think Mr.miyagi should read Peters books, atleast look at some of the thousands of "Peter Schiff was right" videos here on Youtube...

[zzzoo2]

The rude guy is from Korea and studied at Cambridge. You can find a profile of him on the conference's website. Sounds like he's basically anti-capitalist...

[zzzoo2]

Thanks for posting these. I think the Chinese(?) guy says something like "Oh sorry, I forgot more economics than you know." He was a rude SOB. Peter destroyed these idiots. They keep going back to "The Free Market failed." As if we had a free market before the crash. They never see that govt intervention to help economies causes moral hazards that wreck economies.

[ChunkyDude68]

Dear Peter - the Federal Reserve is about as federal as Federal Express.

[haveabeer123]

what did the chinky say when the audencie went wooowww!! ?? I couldn´t understand anything he said... chinky engrish vely bad, undelstandin nothin

[mrdoonbeg]

@haveabeer123 he said: I forgot more economics than you know,,,

[clarisd]

@haveabeer123 He said I forgot more economics than you will ever know. As for the slaves in the America's what they didn't enslane there, the Europeans brought with them. Columbus lands in1492, 1776 the Republic is formalized and many wars were fought between all the europeans for control, all the while killing most of the natives. These so called knowledgable men are HACKS they are agenda hacks, they will not even merely debate the issue.

[devilmirror1]

That Chinese dude was really rude. You wouldn't confront someone like that. His hand, his face, and his manner was so annoying. I noticed that Peter snapped back at him a couple times.

[justgetsome]

I think the guy needs to improve his English before he tackles the likes of Peter.