Getting a degree in itself does not guarantee employment. However, it opens doors that otherwise would have been closed to a high school graduate/dropout.
@MONOPOLY35 You're wrong. If the high school drop out has a brain and can learn a job or some skill and costs peanuts compared to the ego degree holder, the high school drop out has more chances. These days, companies look to save cash and get their work done.
@bmw803 How pleasant is it to hear that some people frown on college? The people who share your opinion are not competing for the same kind of employment I'm aiming for that requires college. Gerald Celente (anti-college) acknowledged that the field I'm working on right now is a good one, so I'm not worried about becoming unemployed. Those who do fail after graduating are in the minority, and my debt will be 20-25k after graduating, which is not six figures like other graduates.
If my intention is to find a job in an academic circle, or a think tank, how am I supposed to increase my credentials with an "on the job experience," when the job I'm looking for is precisely the one that can give me the experience? You need a Master's degree, there's no way around it. If you have nothing on paper, or grades that demonstrate an academic achievement, you can't take high paying jobs.You can follow Peter's advice if you're looking for Mcjobs, but sadly nothing more.Sad, but true.
I just got out of the military and was a sys. admin. for 4 years while I was in. I just recently got out and found a job as a sys. admin. within 1 week of job searching. My mom keeps telling me to attend college, so I just showed her this video. Thank you Peter.
@Mrpeace4ualll Too bad they don't want skilled labor, they want YES MEN! Have any controversial ideas? Better post under pseudonyms! Happen to enjoy a joint after you get home from a hard day of work? Better take up alcohol, and never post about your preference for weed ANYWHERE! Don't like Obama? Keep your mouth shut and your head down if you want to keep your job!
But the man is forgetting something its getting more expensive to do manufacturing in those countries too as the wages go up. not sure y ppl. r always saying manufacturing will always go to developing countries
He forgot nothing and the process that you talk about must go much, much further because Americans are so unproductive and the gap in wages is so huge. Socialism causes it. A lot of people will have to loose job they have, a lot of them will turn out to be homeless, because their standard of living now comes from what is FED & Government doing. Sure - they will have dollars, propably even more than now, but it will buy hardly anything.
@pipem4n "because Americans are so unproductive and the gap in wages is so huge. " What the hell r u even talking about where u hearing this unproductive thing from? In the US, you need to be employed to get welfare. I agree with u that socialism gives ppl a mentality to be unproductive, but the USA is farthest thing away from socialism u can get i mean just look at the way the gov't is arranged...
@paulffraser Its well known that the US worker works more and harder than ANY OTHER MOTHERFUCKER ONEARTH! There are things we will not do (like work 12 year olds in factories, or live on-site for 5 days out of the week) but that doesn't mean that we are "unproductive", it means that WE EXPECT TO BE TREATED AS FUCKING HUMAN BEINGS BY OUR EMPLOYERS!!!
@paulffraser A fun fact about N. Korea, women are never given any higher position than shift lead, and if they aren't married to an engineer by 28, they are FIRED AND OFTEN END UP AS PROSTITUTES BECAUSE NO ONE WILL HIRE THEM!!! I'd pay cash money to see a US employer explain to a female interviewee that they would have to abide by those conditions in order to become an employee!
Gap in wages between Americans and Chinese I ment. Minimum wage, paying for not working, food stamps, government sponsored houses and schools, FED fueld booms, I don't live there. I am from eastern Europe and this looks like pure socialism to me - a one the dies.
@pipem4n Actually Pete does leave out a lot. We aren't unproductive because of our government. We are unproductive because the people who run things don't want us to work. If we work we make money, if we make money, we have potential influence over our leaders. If we are on fed or state assistance programs, we are dependent on the fed or state, and thus have an interest in keeping things going the way they are. That is a giant leap from "Americans are lazy"!
@xMaXiMuSx That is not a good enough answer! What are you saying? That we need to go back to acid-rain, unmarked illegal toxic dump-sites, child labor and indentured fucking servitude to get the jobs to come back? If that is the case CHINA CAN FUCKING KEEP THEM! Did you know that China charges us tariffs on our imports? Peter doesn't like us charging people tariffs, but I say the only way to get back to parity is to tariff ALL IMPORTS and abandon free trade!!!
@Ozlanthos hey, we never actually STOPPED having illegal dump sites and acid rain. Sorry you were fooled.
We're not actually using free trade either. Free trade means all parties can be consenting & free of forced influence. We have no such trade. Right now there's force by currency manipulation in central banks & force in sanctions & trade-treaties by law causing flow to be net one-way.
Of course not.. The reason Chinese people are struggling is because their goverment is supressing their currency.. Our problem is that our current system where the dollar is the reserve currency allows us to print money and ship it all over the world and get real goods but that is ending and we are starting to suffer.. to tariff imports is TERRIBLE, it means you just pay more.. It doesnt benefit the chinese to tariff our goobs but their goverment does like that our goverment
@xMaXiMuSx GOOOD!!!! If it is more expensive to produce over-seas, then manufacturers will move back here, where they are FORCED to consider the fall-out of their production processes!!! You might think that is bad, but if I know that kids won't get cancer from a land-fill because of how it was made, and that 16 Chinese workers didn't commit suicide in the factory it was made in, I can handle paying another $350 for a 60 inch TV!!!!
nonsense... all of a sudden raw material and things become cheap for chinese and their industry will thrive even more.. YOu dont understand conomics, we use to have a strong dollar in the under bretton woods from 44-71 and our manufacturing wass killing it.. You need a strong currency.
@xMaXiMuSx man if a country choses to have a weak curency it's their right china may be acuzed but us and western europe have decades of manipulating the world comerce subsidizing the agriculture so poor countries can;t compete even though the markets are open ,that kept a lot of countries underdeveloped if they could exp they would have got a little industry sooner so those jobs were never yours in the first placemand if the chinees could buy more they would buy comodities not manuf
@io007a Aww come on, if we didn't do that than mulch-nationals like Monsanto couldn't buy those countries arable land for 10th cents on the dollar and evict all of those worthless peasant-farmers! Besides if the wealth of a country is developed by it's citizenry's labor, then they can't be corrupted to bow to the will of said mufti-nationals....and we just can't have that here on Earth any more!
but the reason they cant compete is because they have corrupt goverments owned by the west dont allow for policies to compete.. It's nothing to do with the subsidy..
@xMaXiMuSx that's true again but try to think it in decades leaders come and go good ones bad ones ,again a penny today in exports in decades can turn in a dollar of industry so short term yes you can find a lot of other problems and the development will be extremly low but in decades you can find a clear pattern ,again not all countries all the time can have bad goverments ,man look at the world 1 billion is developed, 1 developing 4 underdeveloped and 1 still lives in trees .
@paulffraser Wow, that is the first time I've heard someone else mention the rapidly rising wages and expectations of the Chinese and other developing countries! It is an important factoid, but I suspect the price of oil will have a far greater, and more immediate impact on the price of imported goods long before the cost of production does...
@Ozlanthos right you are but oil prices would affect bussineses in the developed world as well that;s one reason the chineese are keeping their curency low the demand would be huge if the youan apreciates 50% for ex every chineese would like to eat meat a go for a drive the world doesn;t have those resources at least not right now ,so for them would be the worst choice blowing up comodities prices and having less jobs
@io007a They won't have a choice in the matter. I foresee oil breaking $150 a barrel before next year. Unless that price increase is the result of price manipulation, or more devaluation of the dollar via inflation, shipping costs will abort the cost differential of manufacturing abroad. As I see it, the price increase will be the result of loss or blockage of oil production (war with Iran), a glitch in the game you can't cover up with monetary manipulation!
Chinese labor is not only cheaper but effective, Americans are lazy and always take vacations and sick days with pay for working 50% or less of what a chinese could do. Americans also belive they are entitled to all sorts of free benefits from their companies and country.
@jezza1789 ....well the europeans beg 2 differ also what the FUCK are you talking about the whole entitlement thing? That's y welfare-for-work is such a big thing in the states!!!!
It is all about degree's most corporations want that degree. Does not matter how well you work what you know how efficient you are. That is why engineers are paid more than mechanics. They have the skills to go into the field find out what the mechanics have done to repair and reengineer product mistakes take it back to corporate and publish the recall repair. Mechanics are to dam dumb to do anything other than repair engineering mistakes. Engineers know how to learn from others skills. LOL
If I were a business owner I would take Experience over Degrees anyday. Life is an experience and a lesson. A piece of paper weither it's a degree, a $100 bill ect is worth absolutly nothing. a degree just says you were taught well to listen, do as your told, fill in the right box or circle and that what is said to you is truth. I call BS to today's education system.
Chinese workers 'willing' to work 12 hours a day and live in the factory? Surely they have no choice. I don't think the Chinese worker is going to put up with it all for a lot longer, especially city and water pollution and inequality between regions and corruption. But the west is pretty much stuffed anyway.
no, we are dealing with this system of problems at this time and it is going to only get worse with the crash. you should know that the dollar is being put aside for oblivion on schedule for the invasion of iran. if we hit ww3 just as our currency collapsed, then we can all be speaking German.
people get jobs which pay more with college degrees than they can without degrees unless they suffer for low wages for a decade or two to scrape ahead as you indicate is the correct path or is this incorrect?
... you mean my Masters in liberal arts is what keeps me from getting a job? All I ask is 150K/year with 7 weeks vacation time and full medial coverage. I would come to work and browse facebook all day. What is going on here?
Thanks for the 84% increase in the DEBT, Obama -- since taking office -- now at 15 trillion and asking for another 1.1 trillion. Thanks for bailing out the 1%. This cannot end well.
@Armando7654 A wage slave is someone who is paid so little and worked so hard, that their wages are only barely enough to cover living expenses and they do little else but work. They effectively get paid enough to stay alive so that they can continue working.
If you want to live in those conditions, be my guest. There's been some suicides at Foxconn because of their horrendous working conditions, so maybe they will have some openings.
@AnnoyedDragon wage is based on your productivity not on how hard the job is. if you want your wages to be more than "only barely enough to cover living expenses" then be more productive.
I'm pretty sure those Foxconn workers have the option to leave. I don't see any kind of slavery there in any form. The door is always open and with the manufacturing climate over in China I'm sure there's plenty of opportunities elsewhere.
In the economic department probably 50% of the degree is government propaganda. Completely useless crap that makes graduates look like fools when they graduate to seasoned business men and women.
It took me a good year or two relearning economics because I was taught so much crap in college. the problem is not that college is a waste, its that 50% of it is propaganda, ra, ra BS that supports the government involvement in every aspect of society.
@Truthpolice9698 Well with this money bubble that will all end. All the government propaganda will be exposed for being propaganda and our federal government will go out of business just like the USSR did in 1991.
I never went to college. I went to the Navy, was an IT, and got a job a week out of the Navy making double the average salary of someone my age (23) as a systems administrator.
I started to watch the first half before the union address.Now that it is over.All the sheeple that still believe the lies of Obama can go back to there other shows.
I had an engineering business in the US for 35 years, and everything Mr. Schiff states is 100% true. My best employees started out at ground level and learned by working, not with a degree. I have 2 post grad degrees-music theory and civil engineering-guess which one allowed me to retire at age 50?
Burnanke just has to devalue the dolar by 40% and BAM there you go .Jobs come back to the USA . It's just a mather of time it's the only thing left in the Burnaks toolbox that he hasn't used YET . Bring job back and lower inflation and prevent deflation at the same time .
@TheCristo68 and that 40% would kill any production out of USA, even of apple lol, that s true, and us was always good with keeping dollar having greater buying power in side of usa than outside, so i do t see problems, beside obama plan of doubling exports in on right path
The most successful 20 somethings I know are those who did not go to college. They have a 40 hr steady good paying office job or went through a short term training/apprentice program, or even started their own business. everything you can learn in a standard college you can learn elsewhere now, for free.
So the Chinese are born skilled? They criticise Western economies for not having skilled labour, then they go over to China and 'train' the people to work for them.
It's cheap labour and nothing more. They will train a Chinese person to do a job and not a American/European because the Chinese will work until they become suicidal (Apple), sleeping under their work station; and working as soon as they wake up.
The jobs will come back when we're willing to be wage slaves, that's what it is.
@AnnoyedDragon China has state capitalism, not a free market or communism. The financial services sector could be described as state capitalism in the U.S. given the existence of the Federal Reserve.
Productive jobs mean higher pay. Wages will have to fall until Americans are employed in manufacturing jobs at levels like they used to be. In order to do that, we'll need to restore sound money, let interest rates rise to market levels to encourage savings, and lower taxes/regulations.
@AnnoyedDragon wage slaves? what is that? one who receives a wage is not a slave but a worker. if a china man is willing to work for "a small amount" why shouldn't you, if you have no better alternative?
@Armando7654 being a "wage slave" means that your wages are controlled by an economic system that you have no control over, and even worse, there is a huge corporate speculative machine that ultimately chooses your fate.
@pretorious700 what do you mean you have no control over your wage? Who is preventing you to quit & get a higher paid job, if not your own incompetence?
@toastm4n dude i did, but i spend all my money on it!! about 10 thousand dollars on silver!! right now i am barely making ends meet but sometimes i feel like selling some of it, i am moving to mexico in like 5 months what would you recommend?
@rapemadrid5to0 Hey man, listen silver is a long term investment it should be owned as a protection against fiat currency inflation, if the economy collapses tomorrow you're in luck because your silver will skyrocket, unfortunately fiat currency loses value gradually and lately a lot of investors are selling Euro to buy US$ (what morons), I'm trying to say that you should only buy silver with your savings money, it seems to me that you bought more than you can afford. You'll have to sale some.
@wakeupsheople Absolutely. Personal wealth is determined by the difference between what you need to spend and how much you can save. Intelligent people save first and spend what's left.
@wakeupsheople Indeed, that's why both China and Germany will do better than the rest when the economical collapse hits in, China because they got no pensions so they save ALOT if something bad would happen and for later years, and Germany because they still have memories from the hyper inflation, and even the younger people save some because they know the history.
@realdealio1 The problem is he makes too much sense so politics will not get it. You need some complex explanation for problems and then provide a solution where the government can spend money and act like they 'saved' the economy from disaster. That's why keynesians are in power, politicians like them.
@colombo14 He usually is, but there are things he doesn't say that piss me off. Pete always bitches about the regulations and such that US manufactures have to deal with, but he never says what regulations would need to go away to keep business here. He also brags about how much more productive China and other Asian countries are than us, but he never tells you that THEY WORK 12 TO 16 HOUR DAYS, LIVE ON SITE 5 OR MORE DAYS A WEEK, AND GET PAID THE EQUIVALENT OF $2 AN HOUR IN OUR ECONOMY!
If we would to rely only on what we actually produce and pay for imports only with our exports not with other people's money, what do you think would be our actual standard of living in terms of wage rates?
i see the same thing happening in Australia, people are studying on govt loans and getting degrees to get the paper not the skill ... i went to uni having this mindset and it wasn't until i went outside uni that i realized that a degree doesn't entitle you to a job and any job i got was just above minimum wage if i worked for someone... i learned more in the first year working that all the years in uni
@tnt2001 Now I almost don't feel bad about being a punk and wasting the last few years of high school. Now I'm working every day and saving, rather than taking out loans for useless degrees like my peers.
Wrong. It`s take about a day to open a business in China/HK while in the USA it takes months. Added to that is the speed and flexibility of manufacturing companies while USA unions actively atrophy companies` abilities to adapt and survive ( NYTimes:How the U.S. Lost Out on iPhone Work).
Currencies aren't what determine the cost of living in a region.
Take Ecuador for example. Ecuador ditched their currency for the dollar about 10 years ago. It costs about 50 cents to get a a few pieces of chicken, a drink, and a biscuit.
They use dollars yet the cost of living is much lower. The reason is because there are fewer dollars floating around in ecuador, not because they are using dollars.
That may be why they aren't competitive internationally, but the reason things are cheap there is because there isn't much money there.
The reason things are expensive in New York City is because everyone in NYC has money. If all those rich people moved to ecuador, prices would rise in ecuador.
Inflation is regional even when using the same currency. It matters how much of that currency is flowing through your economy.
@TheMetalPerson I agree with you. I guess I was answering in terms of why there is so little money in Ecuador. I'd attribute that to low marginal productivity.
Getting a degree in itself does not guarantee employment. However, it opens doors that otherwise would have been closed to a high school graduate/dropout.
MONOPOLY35 1 week ago
@MONOPOLY35 You're wrong. If the high school drop out has a brain and can learn a job or some skill and costs peanuts compared to the ego degree holder, the high school drop out has more chances. These days, companies look to save cash and get their work done.
bmw803 1 week ago
@bmw803 How pleasant is it to hear that some people frown on college? The people who share your opinion are not competing for the same kind of employment I'm aiming for that requires college. Gerald Celente (anti-college) acknowledged that the field I'm working on right now is a good one, so I'm not worried about becoming unemployed. Those who do fail after graduating are in the minority, and my debt will be 20-25k after graduating, which is not six figures like other graduates.
MONOPOLY35 1 week ago
If my intention is to find a job in an academic circle, or a think tank, how am I supposed to increase my credentials with an "on the job experience," when the job I'm looking for is precisely the one that can give me the experience? You need a Master's degree, there's no way around it. If you have nothing on paper, or grades that demonstrate an academic achievement, you can't take high paying jobs.You can follow Peter's advice if you're looking for Mcjobs, but sadly nothing more.Sad, but true.
regelemihai 1 week ago
I just got out of the military and was a sys. admin. for 4 years while I was in. I just recently got out and found a job as a sys. admin. within 1 week of job searching. My mom keeps telling me to attend college, so I just showed her this video. Thank you Peter.
lnclincoln 3 weeks ago
World War III anyone?
Scandrew7 3 weeks ago
subisidies certain corporations..
xMaXiMuSx 4 weeks ago
Best getting a vocational degree.
TheNovelty8theory 4 weeks ago
this channel is putin the assassin propaganda
mixxmexx 1 month ago
skills over an degree, all day long...........electricians, plumbers, welders,nurses,...........
Mrpeace4ualll 1 month ago
@Mrpeace4ualll Too bad they don't want skilled labor, they want YES MEN! Have any controversial ideas? Better post under pseudonyms! Happen to enjoy a joint after you get home from a hard day of work? Better take up alcohol, and never post about your preference for weed ANYWHERE! Don't like Obama? Keep your mouth shut and your head down if you want to keep your job!
-Oz
Ozlanthos 4 weeks ago
But the man is forgetting something its getting more expensive to do manufacturing in those countries too as the wages go up. not sure y ppl. r always saying manufacturing will always go to developing countries
paulffraser 1 month ago
He forgot nothing and the process that you talk about must go much, much further because Americans are so unproductive and the gap in wages is so huge. Socialism causes it. A lot of people will have to loose job they have, a lot of them will turn out to be homeless, because their standard of living now comes from what is FED & Government doing. Sure - they will have dollars, propably even more than now, but it will buy hardly anything.
pipem4n 1 month ago
@pipem4n "because Americans are so unproductive and the gap in wages is so huge. " What the hell r u even talking about where u hearing this unproductive thing from? In the US, you need to be employed to get welfare. I agree with u that socialism gives ppl a mentality to be unproductive, but the USA is farthest thing away from socialism u can get i mean just look at the way the gov't is arranged...
paulffraser 4 weeks ago
@paulffraser Its well known that the US worker works more and harder than ANY OTHER MOTHERFUCKER ONEARTH! There are things we will not do (like work 12 year olds in factories, or live on-site for 5 days out of the week) but that doesn't mean that we are "unproductive", it means that WE EXPECT TO BE TREATED AS FUCKING HUMAN BEINGS BY OUR EMPLOYERS!!!
-Oz
Ozlanthos 4 weeks ago
@paulffraser A fun fact about N. Korea, women are never given any higher position than shift lead, and if they aren't married to an engineer by 28, they are FIRED AND OFTEN END UP AS PROSTITUTES BECAUSE NO ONE WILL HIRE THEM!!! I'd pay cash money to see a US employer explain to a female interviewee that they would have to abide by those conditions in order to become an employee!
-Oz
Ozlanthos 4 weeks ago
@paulffraser tons of people get welfare who do not work and will not work. That's how welfare works.
ytgv3fc7 4 weeks ago in playlist 1 2012 01 24
@paulffraser
Gap in wages between Americans and Chinese I ment. Minimum wage, paying for not working, food stamps, government sponsored houses and schools, FED fueld booms, I don't live there. I am from eastern Europe and this looks like pure socialism to me - a one the dies.
pipem4n 3 weeks ago
@pipem4n Actually Pete does leave out a lot. We aren't unproductive because of our government. We are unproductive because the people who run things don't want us to work. If we work we make money, if we make money, we have potential influence over our leaders. If we are on fed or state assistance programs, we are dependent on the fed or state, and thus have an interest in keeping things going the way they are. That is a giant leap from "Americans are lazy"!
-Oz
Ozlanthos 4 weeks ago
@Ozlanthos
well it's the overall policy, you cant pick and choose things.
xMaXiMuSx 4 weeks ago
@xMaXiMuSx That is not a good enough answer! What are you saying? That we need to go back to acid-rain, unmarked illegal toxic dump-sites, child labor and indentured fucking servitude to get the jobs to come back? If that is the case CHINA CAN FUCKING KEEP THEM! Did you know that China charges us tariffs on our imports? Peter doesn't like us charging people tariffs, but I say the only way to get back to parity is to tariff ALL IMPORTS and abandon free trade!!!
-Oz
Ozlanthos 4 weeks ago
Comment removed
ytgv3fc7 4 weeks ago in playlist 1 2012 01 24
This has been flagged as spam show
@Ozlanthos hey, we never actually STOPPED having illegal dump sites and acid rain. Sorry you were fooled.
We're not actually using free trade either. Free trade means all parties can be consenting & free of forced influence. We have no such trade. Right now there's force by currency manipulation in central banks & force in sanctions & trade-treaties by law causing flow to be net one-way.
ytgv3fc7 4 weeks ago in playlist 1 2012 01 24
@Ozlanthos
Of course not.. The reason Chinese people are struggling is because their goverment is supressing their currency.. Our problem is that our current system where the dollar is the reserve currency allows us to print money and ship it all over the world and get real goods but that is ending and we are starting to suffer.. to tariff imports is TERRIBLE, it means you just pay more.. It doesnt benefit the chinese to tariff our goobs but their goverment does like that our goverment
xMaXiMuSx 4 weeks ago
@xMaXiMuSx GOOOD!!!! If it is more expensive to produce over-seas, then manufacturers will move back here, where they are FORCED to consider the fall-out of their production processes!!! You might think that is bad, but if I know that kids won't get cancer from a land-fill because of how it was made, and that 16 Chinese workers didn't commit suicide in the factory it was made in, I can handle paying another $350 for a 60 inch TV!!!!
-Oz
Ozlanthos 3 weeks ago
@Ozlanthos
nonsense... all of a sudden raw material and things become cheap for chinese and their industry will thrive even more.. YOu dont understand conomics, we use to have a strong dollar in the under bretton woods from 44-71 and our manufacturing wass killing it.. You need a strong currency.
xMaXiMuSx 3 weeks ago
@xMaXiMuSx man if a country choses to have a weak curency it's their right china may be acuzed but us and western europe have decades of manipulating the world comerce subsidizing the agriculture so poor countries can;t compete even though the markets are open ,that kept a lot of countries underdeveloped if they could exp they would have got a little industry sooner so those jobs were never yours in the first placemand if the chinees could buy more they would buy comodities not manuf
io007a 3 weeks ago 2
@io007a Aww come on, if we didn't do that than mulch-nationals like Monsanto couldn't buy those countries arable land for 10th cents on the dollar and evict all of those worthless peasant-farmers! Besides if the wealth of a country is developed by it's citizenry's labor, then they can't be corrupted to bow to the will of said mufti-nationals....and we just can't have that here on Earth any more!
-Oz
Ozlanthos 3 weeks ago
@io007a
but the reason they cant compete is because they have corrupt goverments owned by the west dont allow for policies to compete.. It's nothing to do with the subsidy..
xMaXiMuSx 3 weeks ago
@xMaXiMuSx that's true again but try to think it in decades leaders come and go good ones bad ones ,again a penny today in exports in decades can turn in a dollar of industry so short term yes you can find a lot of other problems and the development will be extremly low but in decades you can find a clear pattern ,again not all countries all the time can have bad goverments ,man look at the world 1 billion is developed, 1 developing 4 underdeveloped and 1 still lives in trees .
io007a 2 weeks ago
@paulffraser Wow, that is the first time I've heard someone else mention the rapidly rising wages and expectations of the Chinese and other developing countries! It is an important factoid, but I suspect the price of oil will have a far greater, and more immediate impact on the price of imported goods long before the cost of production does...
-Oz
Ozlanthos 4 weeks ago
@Ozlanthos right you are but oil prices would affect bussineses in the developed world as well that;s one reason the chineese are keeping their curency low the demand would be huge if the youan apreciates 50% for ex every chineese would like to eat meat a go for a drive the world doesn;t have those resources at least not right now ,so for them would be the worst choice blowing up comodities prices and having less jobs
io007a 3 weeks ago
Comment removed
Ozlanthos 3 weeks ago
This has been flagged as spam show
@io007a They won't have a choice in the matter. I foresee oil breaking $150 a barrel before next year. Unless that price increase is the result of price manipulation, or more devaluation of the dollar via inflation, shipping costs will abort the cost differential of manufacturing abroad. As I see it, the price increase will be the result of loss or blockage of oil production (war with Iran), a glitch in the game you can't cover up with monetary manipulation!
-Oz
Ozlanthos 3 weeks ago
rocklee go to 0:50
Dinger22R 1 month ago
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GoldOnlineStore 1 month ago
Chinese labor is not only cheaper but effective, Americans are lazy and always take vacations and sick days with pay for working 50% or less of what a chinese could do. Americans also belive they are entitled to all sorts of free benefits from their companies and country.
jezza1789 1 month ago
@jezza1789 ....well the europeans beg 2 differ also what the FUCK are you talking about the whole entitlement thing? That's y welfare-for-work is such a big thing in the states!!!!
paulffraser 1 month ago
Why aren't smart people like Peter and Ron Paul in charge? Oh yeah, evil people have been in control since 1913.
turboteabag08 1 month ago
LOL college grads really think that having such educ. will take them up even if they have less experience.No wonder we are heading to the drain
rundhe4d 1 month ago
Educated idiots full of pride, ego and... entitlement mindsets.
DXMediaTV 1 month ago
Wow. Who put a bee in his undies?
maximummask 1 month ago
Comment removed
cunnidvd 1 month ago
It is all about degree's most corporations want that degree. Does not matter how well you work what you know how efficient you are. That is why engineers are paid more than mechanics. They have the skills to go into the field find out what the mechanics have done to repair and reengineer product mistakes take it back to corporate and publish the recall repair. Mechanics are to dam dumb to do anything other than repair engineering mistakes. Engineers know how to learn from others skills. LOL
jobedied 1 month ago
If I were a business owner I would take Experience over Degrees anyday. Life is an experience and a lesson. A piece of paper weither it's a degree, a $100 bill ect is worth absolutly nothing. a degree just says you were taught well to listen, do as your told, fill in the right box or circle and that what is said to you is truth. I call BS to today's education system.
2012weareone 1 month ago
I dont even know why i went to university and got a degree, im working but i diddnt find a job in what i studied, it was a waste of three years.
AHAH1010 1 month ago
Who needs to hire Americans with those pesky labor laws, environmental regulations, and an entitlement complex?
Arcingi 1 month ago
@Arcingi developin countries have them even WORSE though...
paulffraser 1 month ago
Forgot to mention Boomers.
coxg90 1 month ago
Interviewer got a job because she's "productively HOT".
dskillz1 1 month ago 8
I was looking at the Europac golddbacked debit card. Im stillin two minds, there seems to be alot of additional fees. Excellent video...
sidkings 1 month ago
most degrees are worthless...people get conned into getting them
welshhibby 1 month ago
Chinese workers 'willing' to work 12 hours a day and live in the factory? Surely they have no choice. I don't think the Chinese worker is going to put up with it all for a lot longer, especially city and water pollution and inequality between regions and corruption. But the west is pretty much stuffed anyway.
portantwas 1 month ago
it reminds of this highly educated economists who won the nobel prize last year...:)))
zombiezombie1977 1 month ago
no, we are dealing with this system of problems at this time and it is going to only get worse with the crash. you should know that the dollar is being put aside for oblivion on schedule for the invasion of iran. if we hit ww3 just as our currency collapsed, then we can all be speaking German.
loveabuttersquash 1 month ago
people get jobs which pay more with college degrees than they can without degrees unless they suffer for low wages for a decade or two to scrape ahead as you indicate is the correct path or is this incorrect?
loveabuttersquash 1 month ago
Should we start making Peter Schiff Was Right 2 yet? It wont be as good without people laughing at him.
pauldoffman 1 month ago
Great video Peter!!
Intervene 1 month ago
I hope there isn't a new Peter Schiff is right video in the future.
takerdust 1 month ago
I feel like such a shit, going to school, having 3 bitchin parties the next week. But hey, at least I study Austrian Economics at the side.
Andersll11 1 month ago
... you mean my Masters in liberal arts is what keeps me from getting a job? All I ask is 150K/year with 7 weeks vacation time and full medial coverage. I would come to work and browse facebook all day. What is going on here?
quadcatfly 1 month ago
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Thanks for the 84% increase in the DEBT, Obama -- since taking office -- now at 15 trillion and asking for another 1.1 trillion. Thanks for bailing out the 1%. This cannot end well.
flahr1 1 month ago
She's thinking, "Oh my gosh, this is the first I'm hearing of this?!"
Airmanf7 1 month ago
Good interview!
USAPappy 1 month ago
Peter Schiff for VicePresident with Ron Paul = Economic Prosperity and Liberty for All:)
syp808 1 month ago
@Armando7654 A wage slave is someone who is paid so little and worked so hard, that their wages are only barely enough to cover living expenses and they do little else but work. They effectively get paid enough to stay alive so that they can continue working.
If you want to live in those conditions, be my guest. There's been some suicides at Foxconn because of their horrendous working conditions, so maybe they will have some openings.
AnnoyedDragon 1 month ago
@AnnoyedDragon wage is based on your productivity not on how hard the job is. if you want your wages to be more than "only barely enough to cover living expenses" then be more productive.
Armando7654 1 month ago
@AnnoyedDragon
I'm pretty sure those Foxconn workers have the option to leave. I don't see any kind of slavery there in any form. The door is always open and with the manufacturing climate over in China I'm sure there's plenty of opportunities elsewhere.
gnryushi 1 month ago
@gnryushi
You have to remember the chinese government is keeping the yuan low, which creates massive inflation. So workers have to demand higher wages.
madass888 1 month ago
so true, college is completely worthless in the real world business
managarm1349 1 month ago 6
In the economic department probably 50% of the degree is government propaganda. Completely useless crap that makes graduates look like fools when they graduate to seasoned business men and women.
It took me a good year or two relearning economics because I was taught so much crap in college. the problem is not that college is a waste, its that 50% of it is propaganda, ra, ra BS that supports the government involvement in every aspect of society.
Truthpolice9698 1 month ago
@Truthpolice9698 Well with this money bubble that will all end. All the government propaganda will be exposed for being propaganda and our federal government will go out of business just like the USSR did in 1991.
Truthpolice9698 1 month ago
You da man Schiff!!!
aelizondo189 1 month ago
I never went to college. I went to the Navy, was an IT, and got a job a week out of the Navy making double the average salary of someone my age (23) as a systems administrator.
lnclincoln 1 month ago
Newt has better jobs training at schools , All children will become school janitors , we can outsource them Globally
louis12346 1 month ago
I started to watch the first half before the union address.Now that it is over.All the sheeple that still believe the lies of Obama can go back to there other shows.
moomman89 1 month ago
@moomman89 I tuned out Obama about a year ago..He has nothing substantive to offer.
pretorious700 1 month ago
I had an engineering business in the US for 35 years, and everything Mr. Schiff states is 100% true. My best employees started out at ground level and learned by working, not with a degree. I have 2 post grad degrees-music theory and civil engineering-guess which one allowed me to retire at age 50?
pretorious700 1 month ago
"doesn't mean you know anything". You said that kind of wrong, but I get it. :D
ddstar 1 month ago
Burnanke just has to devalue the dolar by 40% and BAM there you go .Jobs come back to the USA . It's just a mather of time it's the only thing left in the Burnaks toolbox that he hasn't used YET . Bring job back and lower inflation and prevent deflation at the same time .
TheCristo68 1 month ago
@TheCristo68 Lower inflation? By devaluing the dollar by 40%? WTF? You're an idiot if you believe that.
pretorious700 1 month ago
@TheCristo68 and that 40% would kill any production out of USA, even of apple lol, that s true, and us was always good with keeping dollar having greater buying power in side of usa than outside, so i do t see problems, beside obama plan of doubling exports in on right path
udical 1 month ago
The most successful 20 somethings I know are those who did not go to college. They have a 40 hr steady good paying office job or went through a short term training/apprentice program, or even started their own business. everything you can learn in a standard college you can learn elsewhere now, for free.
TheChertron 1 month ago
So the Chinese are born skilled? They criticise Western economies for not having skilled labour, then they go over to China and 'train' the people to work for them.
It's cheap labour and nothing more. They will train a Chinese person to do a job and not a American/European because the Chinese will work until they become suicidal (Apple), sleeping under their work station; and working as soon as they wake up.
The jobs will come back when we're willing to be wage slaves, that's what it is.
AnnoyedDragon 1 month ago
@AnnoyedDragon China has state capitalism, not a free market or communism. The financial services sector could be described as state capitalism in the U.S. given the existence of the Federal Reserve.
Productive jobs mean higher pay. Wages will have to fall until Americans are employed in manufacturing jobs at levels like they used to be. In order to do that, we'll need to restore sound money, let interest rates rise to market levels to encourage savings, and lower taxes/regulations.
joepeeler34 1 month ago
@AnnoyedDragon wage slaves? what is that? one who receives a wage is not a slave but a worker. if a china man is willing to work for "a small amount" why shouldn't you, if you have no better alternative?
Armando7654 1 month ago
@Armando7654 being a "wage slave" means that your wages are controlled by an economic system that you have no control over, and even worse, there is a huge corporate speculative machine that ultimately chooses your fate.
pretorious700 1 month ago
@pretorious700 what do you mean you have no control over your wage? Who is preventing you to quit & get a higher paid job, if not your own incompetence?
what do you imagine your wage is based on?
Armando7654 1 month ago
@Armando7654 I know exactly what wages are based on in a free market. Unfortunately, the US has not had a free market since I've been alive.
pretorious700 1 month ago
@Armando7654 when i see profiles like yours, I understand what's wrong with America
pretorious700 1 month ago
Chinese people obviously have their limits too. That's why Apple's electronics are dealing with so many suicides.
lgarvey1979 1 month ago
I hope you smart guys out there are stacking on gold/silver.. take schiff's advice and do it while it's possible
toastm4n 1 month ago 3
@toastm4n Have been for a couple of years now and even have a few others doing the same, but many are still clueless.
vambo13257 1 month ago
@toastm4n dude i did, but i spend all my money on it!! about 10 thousand dollars on silver!! right now i am barely making ends meet but sometimes i feel like selling some of it, i am moving to mexico in like 5 months what would you recommend?
rapemadrid5to0 1 month ago
@rapemadrid5to0 Hey man, listen silver is a long term investment it should be owned as a protection against fiat currency inflation, if the economy collapses tomorrow you're in luck because your silver will skyrocket, unfortunately fiat currency loses value gradually and lately a lot of investors are selling Euro to buy US$ (what morons), I'm trying to say that you should only buy silver with your savings money, it seems to me that you bought more than you can afford. You'll have to sale some.
toastm4n 1 month ago
A country becomes wealthy by producing and saving. Were not producing or saving anything. It's just a matter of time this system fails.
wakeupsheople 1 month ago 46
@wakeupsheople Absolutely. Personal wealth is determined by the difference between what you need to spend and how much you can save. Intelligent people save first and spend what's left.
pretorious700 1 month ago
@wakeupsheople Indeed, that's why both China and Germany will do better than the rest when the economical collapse hits in, China because they got no pensions so they save ALOT if something bad would happen and for later years, and Germany because they still have memories from the hyper inflation, and even the younger people save some because they know the history.
trapedd 1 month ago
@wakeupsheople as charlie sheen would say. duh
doug575 1 month ago
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╭∩╮（⃕‿⃕）╭∩╮➔ CAPITALISM & COMMUNISM not EQUAL..!!!
DRUGLORDS+GOVERNMENT is COUNTERFEITING MONEY for SLAVERY.!!
BANKERS & DRUGLORDS screwed life & society in human history.
BURN DRUG LORDS ALIVE & OCCUPY THE WORLD.!!
CAPITALISM = NO REAL FREEDOM. WORLDS FAKE ECONOMY.
fight for LAST DROP BLOOD for MONEY & POWER = OPPORTUNIST MANIPULATIVE REALM LANDLORD GRABBER PIG ROYAL LAZY FAMILY.
HARD WORKING PEACE LOVING HAPPY HONEST SOCIETY were always the slave victim and poorly starve to death. :(
koppellhinex 4 weeks ago
God, peter is such a breath of fresh air..
realdealio1 1 month ago 57
@realdealio1 The problem is he makes too much sense so politics will not get it. You need some complex explanation for problems and then provide a solution where the government can spend money and act like they 'saved' the economy from disaster. That's why keynesians are in power, politicians like them.
TWSceptic 1 month ago 4
@TWSceptic that guy was right on the money!!
colombo14 4 weeks ago
@colombo14 He usually is, but there are things he doesn't say that piss me off. Pete always bitches about the regulations and such that US manufactures have to deal with, but he never says what regulations would need to go away to keep business here. He also brags about how much more productive China and other Asian countries are than us, but he never tells you that THEY WORK 12 TO 16 HOUR DAYS, LIVE ON SITE 5 OR MORE DAYS A WEEK, AND GET PAID THE EQUIVALENT OF $2 AN HOUR IN OUR ECONOMY!
-Oz
Ozlanthos 4 weeks ago
@Ozlanthos You try doing that here, then come back and tell me how "right" Peter is!
-Oz
Ozlanthos 4 weeks ago
@realdealio1 indeed - this is a great interview
RJN4444 1 month ago
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Hey Peter,
If we would to rely only on what we actually produce and pay for imports only with our exports not with other people's money, what do you think would be our actual standard of living in terms of wage rates?
Armando7654 1 month ago
Why have I never heard about Russia on Russia Today?
rudemood2011 1 month ago
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Armando7654 1 month ago
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Earth Inhabitants:
Learn, google, before is too late:
NDAA, “Patriot" Act, SOPA, PIPA, ACTA
OPEN, TSA, FEMA Camps, Agenda 21, they are
NOT “crazy-tin foil hat" conspiracy theories...any more.
........They are anticonstitutional REAL CURRENT “legal”
Nazist-Fascist-Zionist Government Bills/Laws/Programs/Institutions.
Listen to a Human named Ron Paul before he gets “silenced”.
Obama=Romney=Gingrich=Bush.
rolovolo 1 month ago
i see the same thing happening in Australia, people are studying on govt loans and getting degrees to get the paper not the skill ... i went to uni having this mindset and it wasn't until i went outside uni that i realized that a degree doesn't entitle you to a job and any job i got was just above minimum wage if i worked for someone... i learned more in the first year working that all the years in uni
tnt2001 1 month ago
@tnt2001 Now I almost don't feel bad about being a punk and wasting the last few years of high school. Now I'm working every day and saving, rather than taking out loans for useless degrees like my peers.
natritious1 1 month ago
Wrong. It's 100% currencies. Cost of living in China is 1/10th the US. Thus it's cheaper for the 1% to outsource jobs. Duh.
jonvssocrates 1 month ago
@jonvssocrates Labor cost certainly has it's role however that is hardly the most pressing reason
YaHuWaHservant 1 month ago
@jonvssocrates
.
Wrong. It`s take about a day to open a business in China/HK while in the USA it takes months. Added to that is the speed and flexibility of manufacturing companies while USA unions actively atrophy companies` abilities to adapt and survive ( NYTimes:How the U.S. Lost Out on iPhone Work).
.
classic7890 1 month ago
@jonvssocrates
Currencies aren't what determine the cost of living in a region.
Take Ecuador for example. Ecuador ditched their currency for the dollar about 10 years ago. It costs about 50 cents to get a a few pieces of chicken, a drink, and a biscuit.
They use dollars yet the cost of living is much lower. The reason is because there are fewer dollars floating around in ecuador, not because they are using dollars.
TheMetalPerson 1 month ago
@TheMetalPerson I think that the low marginal productivity of the average Ecuadoran worker is probably the main reason why it's so cheap.
thrashertm 1 month ago
@thrashertm
That may be why they aren't competitive internationally, but the reason things are cheap there is because there isn't much money there.
The reason things are expensive in New York City is because everyone in NYC has money. If all those rich people moved to ecuador, prices would rise in ecuador.
Inflation is regional even when using the same currency. It matters how much of that currency is flowing through your economy.
TheMetalPerson 1 month ago
@TheMetalPerson I agree with you. I guess I was answering in terms of why there is so little money in Ecuador. I'd attribute that to low marginal productivity.
thrashertm 1 month ago
Preach Pete!
Silver44Guy 1 month ago
Thanks for speaking the truth!
mommieis40 1 month ago