Peter Schiff: How gov't stimulus spending & deficits impact capital markets (Part 1)

[jamescs1969]

Wasn't it the Shiff's that lived with the Rothchild's all those years. I'm quite sure the Shiffs are very closely related to the Bush's.

[jamescs1969]

@jamescs1969 OOPS! Schiffs.

[TheLadyMichele]

Can we cut off these dude's head. What caused the depression we're in is the f-ing bankers that thought they needed 40 billion dollars in their banks accounts, instead for realizing that 40 million was all their were going to get out of the economy. WAKE UP AMERICA! I have a nice cup of coffee made.

[bevoorbeeld]

Peter Schiff is a heroes! He warned bankers in 2006 that the system was going to explode..A true Austrian heroes!!

[twk373]

Also, I simply cannot believe that people are actually stupid enough to listen to what Peter says and fail to see that is obviously the truth. It is explained so clearly and elegantly that even a retarded monkey couldn't pretend to not understand.

It is safe to say, therefore, that Peter-haters are simply an anti-personality cult, driven by nothing more than frothing, irrational rage.

Just one question, then. What did Peter ever do to you?

[rpo11234]

the knives and forks are really pissing me off



[arka67]

@100silverpizza you sound like is 2007 and you bought a house in Las Vegas for 500K !

[frank1es83]

Are people eating ?

[judd73]

@frank1es83 yes and Schiff eats Keynesianism for breakfast.

[SuperViewer101]

@TheRedCapitalist "he has absolutely no knowledge about"? Were you listening while watching? or did you even watch these videos? not to mention, his books? Try at least one.. and may Peter's Piss be with you! and wash those garbage in your eyes and ears..

[ecnerwal999]

LIBERTARIANMONARCHY . COM

PETER SCHIFF IS AWESOME!

[TheRedCapitalist]

This is total garbage - Peter Schiff doesn't have a clue what "Keynesianism" is about. As a leading institution for higher education, you should be ashamed that you invited a stockbroker without any accreditation in economics to be a speaker on economic subjects he has absolutely no knowledge about.

[stealthpakfa]

@TheRedCapitalist u are the one that is clueless.

keynesianism is fascism. its an evil theory of government control.

now piss off retard.

[CLeach13]

@TheRedCapitalist lol i love how you cannot refute anything Schiff says on keynesianism, the fact is that he is right on the money. As a wise man once said "the economy is not some class you can master in college, to think otherwise is the pretense of knowledge" and he couldent of been more right. Austrian economics ftw Ron Paul 2012 Vote Vertebre

[assafkaufman]

Keynesianism is all about government spending during a recession to substitute the diminished ability of the private sector to spend. It's all about maintaining aggregate demand, i.e., C+G+I. It's a disastrous concept and it is exactly what Peter is talking about.

I think you simply lack the understanding.

[AkivaII]

@TheRedCapitalist

I don't disagree, as there are many different branches of monetarist theory which continue to evolve. Many economists will even admit that the ideology continues to perpetuate change, and I certainly doubt that Mr Schiff has the time to be well studied in a complicated ideology he doesn't subscribe to. That being said, it is very rare to find responses to Austrian business cycle theory, particularly addressing the axiomatic moral hazard that stems from cheap credit.

[TheRedCapitalist]

@AkivaII

The 'cheap credit moral hazard' issue is addressed by Steve Keen in his new book.

[TheRedCapitalist]

@AkivaII

It isn't just that Peter Schiff isn't versed in Keynesianism - why would any institution for higher education invite an "expert" who isn't even formally accredited in the field? That's like inviting a fireman whose knowledge of nuclear physics is derived from the internet to talk about nuclear physics in front of aspiring phds in the field.

Fraser is supposed to promote knowledge and learning - not false information and ignorance.

[savemyplaylist]

@TheRedCapitalist Because all the Keynesians got it wrong you dip shit.

[heckler73]

@savemyplaylist Are you talking about New Keynesians or Post-Keynesians? Please be more specific and provide some details, thanx.

[RomansBookReport]

@heckler73 Post-Keynesianism, like Post-Marxism is noble attempt to pick up a turd by its clean end.

[heckler73]

@RomansBookReport Hahaha... I appreciate your wit, but that doesn't answer my question. That said, I wonder what Post-Schifftardism will be like? Who will be the next Guru of Gloom?

One thing that is ironic about Pete is that he whines about Ponzi schemes yet thrives on one himself..

[twk373]

@heckler73

Peter thrives on a ponzi scheme? Oh, just stfu/gtfo already.

[heckler73]

@twk373 Excuse me, but what do you think the Stock Markets are?

There is a HUGE difference between Private Equity investment and Stock Markets.

Stocks involve (for the most part) finding " a greater fool" to sell your title to.

And what does Pete do again? Oh right, he's a (small time) Stock broker that lives on commission.

LOL You must be a client!

[twk373]

@heckler73

Peter invents long term, you retarded moron. He invents for dividends, which are in fact the only sensible reason to involve yourself in the stock market. Haven't you ever heard him give investment advice? No, I didn't think so. Lol. Please, stop embarrassing yourself.

Still, maybe if your precious Federal government wasn't pumping the market full of liquidity, it would behave a bit more rationally, eh? Bet that never occurred to you, either. Goddamn Keynesians.

[heckler73]

@twk373 Despite your abuse of pejoratives, I'll try to help you.

Have you seen the client statements detailing Pete's FAILURE to protect investors' assets in 2008 (note the types of stocks he invests in)?

Furthermore "my federal gov't" hasn't been "pumping liquidity" into the "market". It's been using Fiscal Policy in an attempt to stimulate aggregate demand (which is something the US should have done from the start).

Perhaps you should remove your nose from Pete's external anal sphincter.

[twk373]

Could you help me demonstrate that you do not understand what "long term investment" is? Oh, I see you already did that. Do pay close attention, dillweed: short-term fluctuations are irrelevant unless you're a day trader. Peter's investors are up what, 500%? since the late 90's. Clearly you're just angry because you missed the boat. No worries, there's still time to get on board. <3

And there is no such thing as "aggregate demand," you delusional quacKeynesian. Markets are people, not atoms.

[NibsNiven]

@twk373 "Peter invents long term, you retarded moron. He invents for dividends, ... Please, stop embarrassing yourself."

The word is "invests", not "invents". Please, stop embarrassing yourself.

"Still, maybe if your precious Federal government wasn't pumping the market full of liquidity"

When did banks' balance sheets become "the market"? When did banker bonuses become "the market"?

[twk373]

The great thing about being me is you get to have your own private team of spell-checkers. Gives me more time to focus on the finer things of life.

Still, I'm disappointed in your performance on that last one. Try, "the [financial] market." I'm gonna have to take that out of your paycheck, son. No hard feelings. <3

[NibsNiven]

@twk373 OK, so it was put into the financial market. So? How much of it made it to the people? How much lending have the banks done with it? Why are you such a boot licker for the pukes that used it to pay off their gambling debts and line their own pockets?

[twk373]

@NibsNiven

What are you even talking about? Surely, you are not actually suggesting that anything I said could even be remotely construed to *favor* TARP (would have been better named 'RAPE')?

There should never be any violence-sponsored (i.e., government sponsored) bailouts. Ever.

There should also never be any coercively-enforced (i.e., governmentally enforced) system of fiat money and/or central banking. Ever.

The latter invariably produces the former.

[TheRedCapitalist]

@NibsNiven

Major correction on your points. Peter Schiff is NOT a banker. He is a stockbroker and one of the worst in the business. He fleeces retirees and gullible people who have limited knowledge of how financial markets work. Yes, banks have been corrupted but they also serve a purpose in the economy. Peter Schiff serves no purpose, he is a parasitical con-man.

[twk373]

@TheRedCapitalist

Perhaps by "fleeces" you mean "enriches."

Schiff is one of the few stockbrokers with whom it is worth investing money.

And he has more economic and financial knowledge in his little finger than the sum total of all Keynesians put together.

[TheRedCapitalist]

@twk373

What is your rank within the cult ladder?

[twk373]

@TheRedCapitalist

What's yours?

[TheRedCapitalist]

@twk373

I do not belong to a cult and definitely not join one being chaired by an uneducated con-man like Peter Schiff. Only the blind, willfully ignorant, uninformed and uneducated would join Peter Schiff's cult. Take your pick as to which of these descriptors fit you.

[twk373]

@TheRedCapitalist

Denial, denial. Only a blind, willfully ignorant, uninformed and uneducated Keynesian would claim to not be apart of a clueless con-man's cult. And here I thought you were actually proud of your devotion to a debunked 19th century mystery religion. Krugman is certainly proud of it. Surely you can do better than Krugman, my child.

[TheRedCapitalist]

@twk373

So according to you, anybody who thinks Peter Schiff (& you) are idiots are automatically Keynesians? Sorry but there are more than just Keynesians in this world, you frothing idiot. Thanks for confirming that you are all of those descriptors I wrote.

[Xasew]

@heckler73

You actually have absolutely no idea what a stock market is or how it works. Or you don't know what a Ponzi is. One or the other, because otherwise you're not making any sense.

[Elmgren76]

@TheRedCapitalist so knowledge is a function of being formally accredited? You need a degree to know something?

[twk373]

@TheRedCapitalist

Peter is in fact well-versed Keynesianism...but why would he need to be? You don't need to be well-versed in quackonomics to know that is pure bullshit. And you don't need to understand quackonomics to understand real economics.

Also, inviting a Keynesian to talk about economics IS like inviting a fireman to lecture on nuclear physics when all his knowledge is derived from the web. An embarrassment.

[AkivaII]

@TheRedCapitalist

Well to be fair, formal accreditation within Austrian Business Theory is virtually unheard of. It is only within the last decade has it really taken off, and institutions offering it are having difficulties becoming seen as universities due to difficult legislation. As to the Fraser Institute, it is a private entity, and therefore its goals are to promote that to which is parrallel to its ideology, and Mr. Schiff appropriately fits that bill, respectfully.

Kind regards,

AkivaII