i think it actually might be system preferences > sound > input > then lower microphone level. believe it or not... i think i remember him mentioning buying a macbook just for doing his video blog... maybe.
Peter, I've written you twice asking you to turn the volume down on your mic
What's the deal, dude? It's distorted - just turn it down in the control panel. You don't seem to read my emails so I guess I'll waist time in the comments section.
PEOPLE!!!! WRITE PETER a utube email asking him to TURN DOWN THE MIC VOLUME!
Guess what happened today (10/21)? The DJIA tumbled 93 points, but the Dollar Index ALSO tumbled more than half a point. Commodities still rose, and what sucks is expensive oil/gasoline combined with a weak dollar..
I think the real truth is even simpler - Nothing at all has happened. During the crash, money moved out of equities and into cash. The underlying value of the equities hasn't changed, the only thing that changed is the underlying value of the dollar. Therefore, nothing is "growing", this is basically just the movement of wealth away from perceived risk. In other words, the market rally isn't being driven by people "buying in" to equities, it's people "selling out" of dollars.
This comment has received too many negative votesshow
Jesus F-in Christ Shiff!!! You've missed a 50% rally in 6 months and you still can't see the bull market ?!?
Is this 20/20 hindsite? NO! Look at your own Amazon book reviews and you'll see I went bullish on Feb 22, 2009 with this titled "20/20 FORESITE";
"Sell your gold at $1000. Buy stocks here at dow 7200. The reason stocks are cheap is because things look bad. But if you don't buy fear and sell greed, how do you expect to out perform the other guy? "
Better to have gains to risk, then having missed the greatest (in terms of annualized returns) bull market run of our life times!!!
But I'm no perma-bull. Precrash I sent out a chart to my friends saying "I hate to be a fear monger, but I believe the market will crash and mirror the 1973/74 sell-off resulting in the Dow hitting 7000."
Thats because it wasnt a real, market fundamental, led rally you idiot. . Investors arent jumping into this rally, its simply all that excess liquidity you get when you pump trillions of dollars into the system. And from what I know, Peter completely nailed the bull markets in other countries and ignored, which is what you should have done, the bullshit manipulation by the banks and plunge protection team "bull market". This market will crash and suckers like you will feel the pain.
ahhh... with 15 years of flawless market calls, including the one I referenced on Amazon, I'm the idiot. chuckle...I'll the only person I know that correctly predicted the bull run from 4500 to 12,000 in 1995. "The markets to high!!!" they told me (at 4500) to which I replied, "I believe that the market is at the beginning of a mania that will parallel excess valuations of the 1920's. Dec 15, 1999, In spite of predicting that entire mania, not one friend would head my advice to dump all stocks.
Gold's probably gonna go higher if Ben Bernanke ever stops paying banks interest on reserves. Interestingly enough, credit has not gotten flowing to businesses at the rate previous to the recession because the Fed is paying banks interest on reserves, so they didn't really "save the day" as some folks say they did. Bernanke did it to prevent banks from lending more so that inflation wouldn't get out of hand, but seems like he's overdone it a little.
You are making fool of yourself. Europac fund rallied more than wall street. No matter if Peter earns money or loses money,his economic views are the same,because he knows he is 100% right... long term is most important.
He is a honest and righteous guy and thats why he doesn't change his point of view and talk what people should hear,not what they want to hear.
That is the best explanation of high prices for education I have heard so far... thank you
what I like about libertarianism is it gets to the root cause, rather than liberalism which stops at "greed" 99% of the time, conveniently ignoring the government's role so they can justify using it as an easy way to get whatever they want
Native Americans had it right. It's too bad the white man didn't expand on those ideals, instead of raping the land for greed. I saw all this coming since I was a little kid. The entire monetary experiment is coming to a full-circle. Schiff is right also, and I believe he is exposing the truth, with the hope that by providing a painful understanding, will there ever be a true recovery in the long term.
Well put about college tuitions. But what we really need is to adjust higher education to the internet age--fire 80% of the professors (and administrators), and offer the best instruction only--on-line. That would save billions of dollars, and teach the professors to take up gardening.
Speaking of stupid, I looked up in the dictionary the definition of stupid and guess what? there was a picture of Schiff there! Schiff--your ideas might work if you wanted no growth, no advancement, no American dream and you were starting with a blanket sheet of paper to develop a system. But people want advancement, people want to interact, explore, travel, live in nice places and have fun and entertaining things, not simply working to eat and save. The world wants this too.
Schiff might be a bit 'extreme', but what he is essentialy advocating is that current behaviors are NOT sustainable and will come crashing down on us, the 'economic' that have poped up over the last couple of decades are symptoms of the problems that we are creating.
Your a fucking lawyer, your comments dont surprise me. Your profession is a fucking joke, it is the most counter productive industry in the world. It sucks up capital without anything in return, it produces nothing. You and your stupid fucking education is a drain on society, you are worse then the labor unions. If the unions didnt have fuck heads like you to dance around the laws then they would have less power.
>people want advancement, people want to interact, explore, travel, live in nice places and have fun and entertaining things, not simply working to eat and save
Well people "want" to do a lot of stupid things. Little kids love toys and junk food, a good parent knows the consequences of spoiling them.
You're illustrating the American mindset: "I want, therefore gimme!" This is why tomorrow's america will suffer tremendously to pay for today's hedonism.
and they have said this for 200 years to each new generation. The world's economic success is based upon the US--PERIOD! Stop listening to chicken little and understand what he is doing is an ad for Europac. Stop giving student loans??? That is insanity. It is elitist and spoken like a "have", not a have not.
>Stop listening to chicken little and understand what he is doing is an ad for Europac.
Yes I'm very much on the lookout for this. I agree that It looks that way. However, everything he says is backed up by the Austrian school (search for 'misesmedia' on youtube)
>Stop giving student loans??? That is insanity. It is elitist and spoken like a "have", not a have not.
You obviously didn't hear his reasoning for this--that it'll REDUCE tuition to make it more affordable. This is an economic fact.
There are those that teach and there are those that do. Peter is a great teacher. I hope he wins his election because he will then find out that his ideas do not live in a vacuum. We just cannot start over, we have to start from where we are in this race. You cannot just tell everyone that they must take the rest of their lives to save and not borrow in order to give generations down the road a better life. Peter fails to account for the power the US food stuffs and arms play in global econ.
When people read history books,there won't be any history books because when all is said and done=we, mankind will be HISTORY-we are all screwed-U.K. is £85 000 per house-hold in DEBT-Financial Tsunami! NO RECOVERY=GREAT DEPRESSION!
No, school is going to give me a certificate so I am even allowed to work in higher positions, THEN I can use my experience from real life.
I am working now, I pay taxes, and universities are paid for in Sweden. Under these conditions I would be pretty stupid if I didn't take advantage of this service that is forced on me. Sure I'd love to keep the money and save it, and I'd love it if I could be hired on merits instead of having to have a certificate, but I don't have a choice.
You can't fix the economy by more government spending. Thinking that will create jobs is no more than Keynesian (main stream economists) nonsense that got us into this troubled economy. When the government spends to create jobs, funds are taken away from the private sector which leads to a net job loss. There is also a decrease in wealth creation. Keynesian economists don't understand this.
If all debt/money was created by college loans alone and everybody was encouraged to go to college, how would the economy work? Please explain this to me.
What would happen when unemployment rises and children no longer see prospects in going to school? (i could buy a house at the price of a good education)
The people with old college debt will have paid their debt off easily while the newest college graduates will be totally screwed. high unemployment and a decreasing money supply.
As older people paid off their college debts, the money supply would decrease making it mathematically impossible for the newest graduates to ever pay off their principle let alone interest. Without inflation, the newest graduates would become slaves with no collateral but their trade skills.
everybody said i was insane when i said they're better off gambling their college loan money on a roulette table than actually wasting their time going to college and doing work.
So if someone pays off a loan that money magically disappears? I was under the impression that the bank simply loaned out that money to others who needed a loan.
Yes, just as magically as it appeared when the loans were created. (inflation).
This can only keep working as long as total debt grows. Children no longer see incentive to borrow for school when prices become high and unemployment is high, and everyone else has degrees anyway.
What I'm suggesting is that academia is a huge bubble in itself, thus the high tuition prices and decreasing value of a degree.
The government uses this as an excuse to inflate instead of discouraging student loans.
I agree with you in your points in your last comment.
Individuals who work hard and try to actually get into school paying it off themselves are competing against an inflationary giant. As long as the education system continues to kiss the governments butt & take money from them then tuition prices will continue to rise. If they didn't provide all these massive incentives to get kids into school then schools would actually LOSE money. God forbid that schools fail from overpricing students! /s
The government wants Americans to join Army and kill themselves overseas instead of going to university to study economics for example. That's why tuition fee is going up.
This argument is entirely wrong. students pay for the level of education a particular school offers, which can be viewed as an underlying asset. There are different types of assets ranging from junk...aka online courses, trade seminars...to AAA rated....aka highly specialized, private, ivy, top public institutions.
What Peter said about gov. subsidies is true, but thats only half of it. Colleges are not charity's nor should they be. Tuition is based free market, where supply meets demand.
well our "improving" economy will be inflationary and a non improving one will not be... money needs to be spent in an "improving economy" to fuel inflation, your not going to have inflation of consumer prices without the spending part. unless inventories have collapsed so there are no goods and services available for the lush supply of money, which i don't think has happened yet
excellent point at the end. one which everyone seems to be so scared to talk about. just keep things hush hush to maintain the status quo. fuck america.
College is a waste of time, I despise it. However I need a degree on my resume so I will finish it even though it's destroying my brain cells. Mark Twain said "Never let schooling get in your way of education"
From 1770 up to WW1 ( 1914-17 ) America enjoyed little or no inflation whatsoever. An ounce of gold bought you the same item in 1900 as it would in 1770. Since then, the Federal Reserve has controlled inflation and deflation with its fiat currency. You will never see the word liberty on a fed note, it is not your property. Render to caesar what is caesars and buy Gold and Silver to retain your liberty
Peter, I have been watching your vids since April and I have noticed that in almost every one, your audio levels are clipped. This video happened to be one of the worst. Please, LOWER the recording level for your microphone. If your recording software displays a levels monitor, adjust the mic level so it sits below the red.
Thanks and keep up the good work. I really appreciate all the info and wisdom you are sharing.
People want things, gov't provides credit. Credit causes inflation symptoms i.e. if cheap credit were not available, college tuition, homes, cars, etc. would be lower. The American people are too stupid to realize that if they did not borrow at interest, everything would come down in price. They would also turn on their employers and corporate America to demand wage hikes. Cheap credit is a way of suppressing wages. Pay for inflation now or later. See how sinister the scam of the USA economy is?
Being a victim of the great scam myself, student loans pose a much greater problem than home or car loans. If you default on a home/car loan, the asset stays in the country. If a graduate leaves, they take their substandard education (an effect of cheap credit) with them. Young people will leave the USA because there is no future here and they don't have to pay their loans. This is the real reason for a global financial regulator. They will be nowhere to hide when you default on a loan.
I like the sound quality - he should always use it - like on Fast Money or Fox Business or stumping for Senate - it's very low budget sounding in a here's-the-guy-that-will-cut-my-taxes sort of way..
Hey Peter I got into another argument with my economics teacher today. He told me we have to spend our way out of the recession. Of course I replied that we had to save and produce our way out of the recession instead. Maybe I should be teaching the class and He should be the student.
@ciotitini: Hahahahaha, SPEND our way out of the recession? That is the funniest thing I've heard all day. Really. And how does your teacher think that those who are unemployed and getting measly unemployment cheques will "spend?" They cannot even make their basic bills? And what about those who aren't even getting anything?
Yeah I argue with him all the time. Kind of like how Peter argues with all those TV pundits. Thank God for Peter Schiff or else I may have become another Keynesian Drone.
Are you in Berkeley with Professor Robert Reich? This is what he says
People who now obsess about government debt have it backwards The problem isnt debt The problem is just the opposite Its that at a time like this, when consumers and businesses and exports cant do it, government has to spend more to get Americans back to work and recharge the economy Then after people are working and the economy is growing we can pay down that debt.
google: The Truth About Jobs That No One Wants to Tell You
The colleges do exactly what the government wants them to do, that is teach keynesian economics. Thus it's understood by both the government and the schools what is required by both parties.
It's exactly like Ayn Rands book Atlas Shrugged, the wheels are coming off the car as the government press on the gas.
Shhhhhhhh Peter dont tell em let us continue to buy up the silver and gold and they will be the donkeys to come in last and push the prices sky high so we can make all the good profit.
Why tell em if they wont listen leave them thats my new policy!
another good book like popular delusions is media, mania and the markets I cant believe how stupid people are too especially those finance professors. I read the FT today some professor didnt have a clue what he was saying with reagrds to the dollar. deluded people just cant see it.
I think the Brazilians are trying to protect their financial markets from the New York carry trade. Hedge funds finance by low interest Fed loans pumping up the Brazilians stock market, creating another balloon...a ponzi scheme. And then pull out all the money creating a crash.
Australia and New Zealand and other smaller stock markets are seeing this too.
...this Galleon scandal causing big money to exit... as always this rabbit hole runs deeper than we're told. By the time the msm lets the retail investor know how bad all this is, it'll be too late. enron rinse and repeat. ;) ho hum, back to the balloon boy story and everything else that's "better than expected."
So how much inflation is possible with foreign markets propping us up and financing our debt? It doesn't seem like this is going to stop in the next 10 years, or will it? It's pretty clear that the dollar will be toilet paper if China leaves us out to dry but will they?
Yes, Salem Witch hunt stupidity is still alive and well and it comes in a number of different forms. It seems those who strive for logic and reason are condemed to perpetual minority status, but fortunately the reasonable minority does sometimes prevail: The founding fathers and those behind declaring independence back in 1776 were an example.
The Mike is not damaged! Tim Geitner put in a voice scrambler in Peter's computer so his YouTube would so all garbled. Can't you see who is behing this?
Peter, you gotta do something about the sound. It's really hard to listen to. I would suggest getting a real microphone, and putting some rugs or something on the wall to reduce the echo in the room.
Government ruins everything. It makes things more expensive without improving results. Education and health care are perfect examples. Why should we believe that government can be trusted to run the economy?
Agree on your thoughts on the dollar the Feds are manipulating stock market Big time!!! Whats your thought on the big O's delay a decision more trrops to afganastian we need to help are troops there or bring them home.
Mic is short for microphone.
blapgatify 2 months ago
What that noise??
babblake1 1 year ago
Too painful to listen to. Please, fix the distortion!
Do a test run first. Just because vodcasting is easy it doesn't mean it shouldn't have any quality controls.
xoctor 2 years ago
dood, you've blown my ear drums.
good content though
buffett1000 2 years ago 3
I can't tell yet whether I blew a speaker or my eardrum... Only time will tell. Great video otherwise Peter!
Miamijunglist 2 years ago 3
yiiiikes!! fix da sound brother!!
rutherfordbhave138 2 years ago
Peter, Your audio is hard clipped and grates on your audience.
Control Panel > Sound > Recording > Microphone > Properties > Levels > LOWER MICROPHONE LEVEL
TylerNull 2 years ago 2
Yes, the clipping is awful.
Omnis2 2 years ago
i think it actually might be system preferences > sound > input > then lower microphone level. believe it or not... i think i remember him mentioning buying a macbook just for doing his video blog... maybe.
rpsxnu 2 years ago 3
Normally I'd give 5 stars but for poor sound quality I dinged it to a 3.
vipero00 2 years ago 2
Peter, I've written you twice asking you to turn the volume down on your mic
What's the deal, dude? It's distorted - just turn it down in the control panel. You don't seem to read my emails so I guess I'll waist time in the comments section.
PEOPLE!!!! WRITE PETER a utube email asking him to TURN DOWN THE MIC VOLUME!
please.... thanks...
rtardbox 2 years ago
thanx peter , you woke up my neighbors. good info though.
35slave 2 years ago
What do you think about this stock symbol: DBA
It follows Sugar, Corn, Soybean & Wheat
rocksiphone 2 years ago
Pillows on the shelves, already!
Volume is like printed money. Too much volume distorts the sound. It needs to be soaked up by background
Cool if you're a metal band...Not cool if you want people to understand you.
Another option is to record this at a real low volume, and then use software to normalize it, when you're done.
caltrop69 2 years ago
Peter your Mic is too High
rocksiphone 2 years ago
TOO LOUD
samspennell 2 years ago
Sound problem
zizuazi 2 years ago
Wow really good thoughts!
akparker1 2 years ago
Peter, take some Chinese stock dividends and buy a nice microphone.
strongbadXCP 2 years ago
The dollar is, for the most part, not printed on paper...it's largely electronic.
When the dollar is worth less than the hard drive it's stored on...well, then you have REAL problems.
TheMightyCult 2 years ago
Net neutrality bill's due Thursday
Hope my future comments get past Uncle Sam , the monitor , from Friday
Good luck guys!
madhuradi 2 years ago
The sound really sucks
crapthisbetterwork 2 years ago
Good vid, but audio is even worse than usual. Please invest in a good lapel mic.
boopiecat 2 years ago
Great to listen to some common sense from time to time
ronpaulspanish 2 years ago
Guess what happened today (10/21)? The DJIA tumbled 93 points, but the Dollar Index ALSO tumbled more than half a point. Commodities still rose, and what sucks is expensive oil/gasoline combined with a weak dollar..
redxii1234 2 years ago
Volume on the vid was madness but good video as always.
IAmHilarious 2 years ago
Hi Peter,
plz adjust your volume
Wittmann73 2 years ago
Thanks Peter.
Please fix the volume.
Have a great day.
McRocket 2 years ago 2
hey Peter fix your audio its horiable. anywho i would like to hear more about government intervention and the resulting decrease in productivity
keep up the good work!
ctech42851 2 years ago
I think the real truth is even simpler - Nothing at all has happened. During the crash, money moved out of equities and into cash. The underlying value of the equities hasn't changed, the only thing that changed is the underlying value of the dollar. Therefore, nothing is "growing", this is basically just the movement of wealth away from perceived risk. In other words, the market rally isn't being driven by people "buying in" to equities, it's people "selling out" of dollars.
senatorpjt 2 years ago
This has been flagged as spam show
Sound is very distorted.
kkm8720 2 years ago
Peter right again .....The college scam is government subsidized
garybeth1 2 years ago
I agree with the delusions. PEople are real dumb.
Rustyshackleford08 2 years ago
good video, bad audio. Previous videos had good audio, not sure if you changed mics or anything but it sounds horrible. thanks for the video peter!
smavez 2 years ago 3
Peter says'popular delusions & madness of crowds by KAYAK'
Its by Charles Mackay-Extraordinary Popular Delusions & the Madness of Crowds
win1939 2 years ago
Hey, the sound quality of your clips are terrible. Please fix this obvious problem and more people will listne to you.
czubspenx 2 years ago
This comment has received too many negative votes show
Jesus F-in Christ Shiff!!! You've missed a 50% rally in 6 months and you still can't see the bull market ?!?
Is this 20/20 hindsite? NO! Look at your own Amazon book reviews and you'll see I went bullish on Feb 22, 2009 with this titled "20/20 FORESITE";
"Sell your gold at $1000. Buy stocks here at dow 7200. The reason stocks are cheap is because things look bad. But if you don't buy fear and sell greed, how do you expect to out perform the other guy? "
tomintroy 2 years ago
If the dollar dies, it will eat the stock gains. are you all paying any attention to the dollar index ( 75.12 ),
and slippin ?
out2gtme 2 years ago
Better to have gains to risk, then having missed the greatest (in terms of annualized returns) bull market run of our life times!!!
But I'm no perma-bull. Precrash I sent out a chart to my friends saying "I hate to be a fear monger, but I believe the market will crash and mirror the 1973/74 sell-off resulting in the Dow hitting 7000."
tomintroy 2 years ago
Thats because it wasnt a real, market fundamental, led rally you idiot. . Investors arent jumping into this rally, its simply all that excess liquidity you get when you pump trillions of dollars into the system. And from what I know, Peter completely nailed the bull markets in other countries and ignored, which is what you should have done, the bullshit manipulation by the banks and plunge protection team "bull market". This market will crash and suckers like you will feel the pain.
CASTILLOM1 2 years ago
ahhh... with 15 years of flawless market calls, including the one I referenced on Amazon, I'm the idiot. chuckle...I'll the only person I know that correctly predicted the bull run from 4500 to 12,000 in 1995. "The markets to high!!!" they told me (at 4500) to which I replied, "I believe that the market is at the beginning of a mania that will parallel excess valuations of the 1920's. Dec 15, 1999, In spite of predicting that entire mania, not one friend would head my advice to dump all stocks.
tomintroy 2 years ago
Gold's probably gonna go higher if Ben Bernanke ever stops paying banks interest on reserves. Interestingly enough, credit has not gotten flowing to businesses at the rate previous to the recession because the Fed is paying banks interest on reserves, so they didn't really "save the day" as some folks say they did. Bernanke did it to prevent banks from lending more so that inflation wouldn't get out of hand, but seems like he's overdone it a little.
stealthswimmer 2 years ago
You are making fool of yourself. Europac fund rallied more than wall street. No matter if Peter earns money or loses money,his economic views are the same,because he knows he is 100% right... long term is most important.
He is a honest and righteous guy and thats why he doesn't change his point of view and talk what people should hear,not what they want to hear.
Danath23 2 years ago 3
force lower prices... i dont know what to think
freedominsomalia 2 years ago
AAAAAHHHHHG
Audio Clipping!
svd348 2 years ago
4:36 to the end
That is the best explanation of high prices for education I have heard so far... thank you
what I like about libertarianism is it gets to the root cause, rather than liberalism which stops at "greed" 99% of the time, conveniently ignoring the government's role so they can justify using it as an easy way to get whatever they want
shDwfthSUN 2 years ago
Native Americans had it right. It's too bad the white man didn't expand on those ideals, instead of raping the land for greed. I saw all this coming since I was a little kid. The entire monetary experiment is coming to a full-circle. Schiff is right also, and I believe he is exposing the truth, with the hope that by providing a painful understanding, will there ever be a true recovery in the long term.
aspenmogul 2 years ago
We are currently in the last fase of the current world wide dollar based fiat money experiment.
DrMarcFaber 2 years ago
Well put about college tuitions. But what we really need is to adjust higher education to the internet age--fire 80% of the professors (and administrators), and offer the best instruction only--on-line. That would save billions of dollars, and teach the professors to take up gardening.
focus21x 2 years ago
Speaking of stupid, I looked up in the dictionary the definition of stupid and guess what? there was a picture of Schiff there! Schiff--your ideas might work if you wanted no growth, no advancement, no American dream and you were starting with a blanket sheet of paper to develop a system. But people want advancement, people want to interact, explore, travel, live in nice places and have fun and entertaining things, not simply working to eat and save. The world wants this too.
KiheiLawyer 2 years ago
Schiff might be a bit 'extreme', but what he is essentialy advocating is that current behaviors are NOT sustainable and will come crashing down on us, the 'economic' that have poped up over the last couple of decades are symptoms of the problems that we are creating.
perseverance8 2 years ago
@KiheiLawyer
Your a fucking lawyer, your comments dont surprise me. Your profession is a fucking joke, it is the most counter productive industry in the world. It sucks up capital without anything in return, it produces nothing. You and your stupid fucking education is a drain on society, you are worse then the labor unions. If the unions didnt have fuck heads like you to dance around the laws then they would have less power.
Harshjones 2 years ago
We agree on the unions! And I am a bankruptcy attorney LOLOLOLOLOLOLOLOLOLOLOLOLOLOL!!
KiheiLawyer 2 years ago
>people want advancement, people want to interact, explore, travel, live in nice places and have fun and entertaining things, not simply working to eat and save
Well people "want" to do a lot of stupid things. Little kids love toys and junk food, a good parent knows the consequences of spoiling them.
You're illustrating the American mindset: "I want, therefore gimme!" This is why tomorrow's america will suffer tremendously to pay for today's hedonism.
latewire 2 years ago
and they have said this for 200 years to each new generation. The world's economic success is based upon the US--PERIOD! Stop listening to chicken little and understand what he is doing is an ad for Europac. Stop giving student loans??? That is insanity. It is elitist and spoken like a "have", not a have not.
KiheiLawyer 2 years ago
>Stop listening to chicken little and understand what he is doing is an ad for Europac.
Yes I'm very much on the lookout for this. I agree that It looks that way. However, everything he says is backed up by the Austrian school (search for 'misesmedia' on youtube)
>Stop giving student loans??? That is insanity. It is elitist and spoken like a "have", not a have not.
You obviously didn't hear his reasoning for this--that it'll REDUCE tuition to make it more affordable. This is an economic fact.
latewire 2 years ago
You know fuck all nothing about economics. If you dont like Peter then read up on the FOFOA blog or Misus institute.
Harshjones 2 years ago
There are those that teach and there are those that do. Peter is a great teacher. I hope he wins his election because he will then find out that his ideas do not live in a vacuum. We just cannot start over, we have to start from where we are in this race. You cannot just tell everyone that they must take the rest of their lives to save and not borrow in order to give generations down the road a better life. Peter fails to account for the power the US food stuffs and arms play in global econ.
KiheiLawyer 2 years ago
When people read history books,there won't be any history books because when all is said and done=we, mankind will be HISTORY-we are all screwed-U.K. is £85 000 per house-hold in DEBT-Financial Tsunami! NO RECOVERY=GREAT DEPRESSION!
Hendo1974 2 years ago
TURN YOUR MIC DOWN PETER....
jdw2001a 2 years ago 2
Learn a trade instead of going to university. Tradersmen are needed and you won't have to go in debt. The pay is go for many trades.
sljs1010 2 years ago
Better yet, learn a trade while going to university.
I'm learning economics while studying science :D
Visfen 2 years ago
yeah because school is going to teahc you to make money. lmao!
all school is good for is to take money. Noone who has made any money learned to make it in school. they learned it from real life.
Dkouts57 2 years ago
No, school is going to give me a certificate so I am even allowed to work in higher positions, THEN I can use my experience from real life.
I am working now, I pay taxes, and universities are paid for in Sweden. Under these conditions I would be pretty stupid if I didn't take advantage of this service that is forced on me. Sure I'd love to keep the money and save it, and I'd love it if I could be hired on merits instead of having to have a certificate, but I don't have a choice.
Visfen 2 years ago
Peter, you should work on the Audio. It's aweful.
manoman0 2 years ago 4
The video is grainy too. It could be a bad data transfer or something else.
DarthKazi 2 years ago
You can't fix the economy by more government spending. Thinking that will create jobs is no more than Keynesian (main stream economists) nonsense that got us into this troubled economy. When the government spends to create jobs, funds are taken away from the private sector which leads to a net job loss. There is also a decrease in wealth creation. Keynesian economists don't understand this.
bcolias 2 years ago
If all debt/money was created by college loans alone and everybody was encouraged to go to college, how would the economy work? Please explain this to me.
What would happen when unemployment rises and children no longer see prospects in going to school? (i could buy a house at the price of a good education)
The people with old college debt will have paid their debt off easily while the newest college graduates will be totally screwed. high unemployment and a decreasing money supply.
TheMetalPerson 2 years ago
As older people paid off their college debts, the money supply would decrease making it mathematically impossible for the newest graduates to ever pay off their principle let alone interest. Without inflation, the newest graduates would become slaves with no collateral but their trade skills.
TheMetalPerson 2 years ago
everybody said i was insane when i said they're better off gambling their college loan money on a roulette table than actually wasting their time going to college and doing work.
Am i still insane? thats probable.
TheMetalPerson 2 years ago
So if someone pays off a loan that money magically disappears? I was under the impression that the bank simply loaned out that money to others who needed a loan.
You make it sound like inflation is a good thing.
addiktion13 2 years ago
Yes, just as magically as it appeared when the loans were created. (inflation).
This can only keep working as long as total debt grows. Children no longer see incentive to borrow for school when prices become high and unemployment is high, and everyone else has degrees anyway.
What I'm suggesting is that academia is a huge bubble in itself, thus the high tuition prices and decreasing value of a degree.
The government uses this as an excuse to inflate instead of discouraging student loans.
TheMetalPerson 2 years ago
I agree with you in your points in your last comment.
Individuals who work hard and try to actually get into school paying it off themselves are competing against an inflationary giant. As long as the education system continues to kiss the governments butt & take money from them then tuition prices will continue to rise. If they didn't provide all these massive incentives to get kids into school then schools would actually LOSE money. God forbid that schools fail from overpricing students! /s
addiktion13 2 years ago
The government wants Americans to join Army and kill themselves overseas instead of going to university to study economics for example. That's why tuition fee is going up.
mechanicalengineer3 2 years ago
Mr Schiff are you a Zionist? What is your opinion on Israel?
tommy6238 2 years ago
SHOCKING AUDIO!!!!!!
itubeutude 2 years ago
you obviously didnt watch his old videos, this is still good comparatively
ricochetVendetta 2 years ago
Yes, about a hundred other people have pointed that out before..............
redxii1234 2 years ago
I agree Peter - college costs are too high. Universities need to have a look at the whole structure model and get real.
BGBurch 2 years ago
Pete give me your address I will send you a decent mic.
SouthFacedWindows 2 years ago 6
haha, as long as it doesn't come with a BOOM stand.lol. Somehow I don't think he'll give you his address. Just donate money to his campaign instead.
constablekohler 2 years ago
Peter your mic is making my dog bite her tail!
AldoRama69 2 years ago 6
fix yer mic mista
jamiefhr 2 years ago
This argument is entirely wrong. students pay for the level of education a particular school offers, which can be viewed as an underlying asset. There are different types of assets ranging from junk...aka online courses, trade seminars...to AAA rated....aka highly specialized, private, ivy, top public institutions.
What Peter said about gov. subsidies is true, but thats only half of it. Colleges are not charity's nor should they be. Tuition is based free market, where supply meets demand.
buffTstuff5654 2 years ago
well our "improving" economy will be inflationary and a non improving one will not be... money needs to be spent in an "improving economy" to fuel inflation, your not going to have inflation of consumer prices without the spending part. unless inventories have collapsed so there are no goods and services available for the lush supply of money, which i don't think has happened yet
msegreto2 2 years ago
Is there a transcript? I want to know what he said but the audio quality is so bad watching the video is painful!
Rekonn 2 years ago
they're*
mortisnoctu 2 years ago
"we know how people can be so stupid, because their being that stupid all around us"
so true! Quote of the day!
Go Peter Go!
mortisnoctu 2 years ago
Yo Pete....fix your mic!!
Great blog as usual though....Thanks Pete!
bluewaterjimmy 2 years ago 2
Peter, get someone to help you with your audio.. sounds like crap
yogiudo 2 years ago
This guy would make a lousy Senator because they will never listen to him because he speaks too much truth!
sandiegoevangelism 2 years ago
I'm hoping we can upgrade to lousy in 2010
yytrert 2 years ago
Race to zero = competitive currency devaluations. Even more bullish for PMs
lilbitparanoid 2 years ago
This guy has great insight into the economic madness Washington has screwed up.
wanshei 2 years ago
excellent point at the end. one which everyone seems to be so scared to talk about. just keep things hush hush to maintain the status quo. fuck america.
wojtek0000 2 years ago
Too close to your mic!!!!!
dreverends 2 years ago 4
sound quality bad on this clip.
overlordsshadow 2 years ago 3
Peter struck out on the reason for the other countries killing their own currencies. Suicide isn't the answer. They are being threatened.
ZombieX13 2 years ago
College is a waste of time, I despise it. However I need a degree on my resume so I will finish it even though it's destroying my brain cells. Mark Twain said "Never let schooling get in your way of education"
mrcool011 2 years ago 4
I"ll bet you read that in school
yytrert 2 years ago
Peter, We love you. but please get a better mic
Ddonjuan 2 years ago 5
schiff for president
Scapone2001 2 years ago 4
Using the price of an ounce of gold in 1900 and today, it would seem to take less ounces of gold to buy the same size home today verses 1900.
Question, does this mean that our dollar has had a greater buying power than we actually deserved over the last many years?
So bacially, our dollar has been inflated for many years and now it is coming back closer to a gold standard. Is this the real pain we are feeling?
katiatomsk 2 years ago
From 1770 up to WW1 ( 1914-17 ) America enjoyed little or no inflation whatsoever. An ounce of gold bought you the same item in 1900 as it would in 1770. Since then, the Federal Reserve has controlled inflation and deflation with its fiat currency. You will never see the word liberty on a fed note, it is not your property. Render to caesar what is caesars and buy Gold and Silver to retain your liberty
strawjam59 2 years ago 2
quite frankly i cant even listen to this. peter please fix your microphone level. thank you
stoneeh 2 years ago
Yeah amazing while citizens are cutting back and making focused decisions about what they spend on college tuition keeps going to the moon.
howitzer24 2 years ago
Peter, I have been watching your vids since April and I have noticed that in almost every one, your audio levels are clipped. This video happened to be one of the worst. Please, LOWER the recording level for your microphone. If your recording software displays a levels monitor, adjust the mic level so it sits below the red.
Thanks and keep up the good work. I really appreciate all the info and wisdom you are sharing.
stewartbkk 2 years ago 4
turn the Mic input down, Peter
stratcatavarious 2 years ago 3
ciottini your teacher is a dunce. Not that uncommon.
BeachRooster 2 years ago 2
fix your mic please.
ph4rcyd3r 2 years ago
Finally! I get my Schiff Fix, I'm all good for another day of so.
AristophanesNow 2 years ago 6
People want things, gov't provides credit. Credit causes inflation symptoms i.e. if cheap credit were not available, college tuition, homes, cars, etc. would be lower. The American people are too stupid to realize that if they did not borrow at interest, everything would come down in price. They would also turn on their employers and corporate America to demand wage hikes. Cheap credit is a way of suppressing wages. Pay for inflation now or later. See how sinister the scam of the USA economy is?
harveybirdmannequin 2 years ago 2
Being a victim of the great scam myself, student loans pose a much greater problem than home or car loans. If you default on a home/car loan, the asset stays in the country. If a graduate leaves, they take their substandard education (an effect of cheap credit) with them. Young people will leave the USA because there is no future here and they don't have to pay their loans. This is the real reason for a global financial regulator. They will be nowhere to hide when you default on a loan.
harveybirdmannequin 2 years ago
I like the sound quality - he should always use it - like on Fast Money or Fox Business or stumping for Senate - it's very low budget sounding in a here's-the-guy-that-will-cut-my-taxes sort of way..
florgat91 2 years ago
This comment has received too many negative votes show
sound like an ass
Vercingetorix1313 2 years ago
Hey Peter I got into another argument with my economics teacher today. He told me we have to spend our way out of the recession. Of course I replied that we had to save and produce our way out of the recession instead. Maybe I should be teaching the class and He should be the student.
ciottini 2 years ago 6
@ciotitini: Hahahahaha, SPEND our way out of the recession? That is the funniest thing I've heard all day. Really. And how does your teacher think that those who are unemployed and getting measly unemployment cheques will "spend?" They cannot even make their basic bills? And what about those who aren't even getting anything?
iloveterriers 2 years ago
Yeah I argue with him all the time. Kind of like how Peter argues with all those TV pundits. Thank God for Peter Schiff or else I may have become another Keynesian Drone.
ciottini 2 years ago 4
Are you in Berkeley with Professor Robert Reich? This is what he says
People who now obsess about government debt have it backwards The problem isnt debt The problem is just the opposite Its that at a time like this, when consumers and businesses and exports cant do it, government has to spend more to get Americans back to work and recharge the economy Then after people are working and the economy is growing we can pay down that debt.
google: The Truth About Jobs That No One Wants to Tell You
SAPHIRA178 2 years ago
CHECK your AUDIO. anyway good luck peter on your senate bid.
andresfusion 2 years ago
The sound is so bad I couldn't listen all the way through.
Solitas777 2 years ago
Interesting, check ur audio.Peter Schiff For Senate whooot
dbman086 2 years ago
Peter, are you for Drill here Drill now!!!
QWERTY34990 2 years ago
Now you would think someone with as much money as peter has could afford a decent cam to do videos with. The sound quality was TERRIBLE in this. :o)
Interesting information though, so thank you.
scutter4christ 2 years ago
Peter, you've got to review your videos before posting! The sound is so terrible, it's the first vid I could not listen to the end.
uze6666 2 years ago
Peter, I cannot hear you. Speak louder, maybe turn up the volume on the computer or bring the mic closer to your mouth.
VictoryCough 2 years ago
Interesting discussion Peter.
TalkwithTim 2 years ago
thanks
bowtie728 2 years ago
Peter..I hope to God you win!.
detroitgreeks 2 years ago 2
read the insert he wrote in his box, he mentions his mike
Bankingcartel 2 years ago
Old habits die hard, Peter...
The sound quality is horrible, but I went through the WHOLE video ;-)
Maybe check the recording result at your computer first, and reset audio settings if needed.
- just a thought.
grraadd 2 years ago
Peter check your mike dude, it's very hard to listen to you.
gre999999man 2 years ago 5
the audio on your video is getting worse. i can barely stand to listen to this, it's way too loud.
harvey101107 2 years ago 5
The colleges do exactly what the government wants them to do, that is teach keynesian economics. Thus it's understood by both the government and the schools what is required by both parties.
It's exactly like Ayn Rands book Atlas Shrugged, the wheels are coming off the car as the government press on the gas.
davincij15 2 years ago 6
Hey Peter - you might want to check the audio on the vid - loud and it sounds like you are in a cave! :)
SWGirl1970 2 years ago 6
Shhhhhhhh Peter dont tell em let us continue to buy up the silver and gold and they will be the donkeys to come in last and push the prices sky high so we can make all the good profit.
Why tell em if they wont listen leave them thats my new policy!
prepare2008 2 years ago 2
another good book like popular delusions is media, mania and the markets I cant believe how stupid people are too especially those finance professors. I read the FT today some professor didnt have a clue what he was saying with reagrds to the dollar. deluded people just cant see it.
prepare2008 2 years ago
Thank you Peter.
bossduff 2 years ago 2
Watch WAMUed Nation
v=NxGBwExQDdU
Writious 2 years ago
I never marvel at how stupid people can be but I sometimes marvel at the intelligence of Peter and his faithful listeners.
RCinPAWA 2 years ago 3
I think the Brazilians are trying to protect their financial markets from the New York carry trade. Hedge funds finance by low interest Fed loans pumping up the Brazilians stock market, creating another balloon...a ponzi scheme. And then pull out all the money creating a crash.
Australia and New Zealand and other smaller stock markets are seeing this too.
ZullGostnu2 2 years ago
The Madness of Crowds gets especially pronounced when the state gets involved.
nonantianarchist 2 years ago
...this Galleon scandal causing big money to exit... as always this rabbit hole runs deeper than we're told. By the time the msm lets the retail investor know how bad all this is, it'll be too late. enron rinse and repeat. ;) ho hum, back to the balloon boy story and everything else that's "better than expected."
tickhound 2 years ago
So how much inflation is possible with foreign markets propping us up and financing our debt? It doesn't seem like this is going to stop in the next 10 years, or will it? It's pretty clear that the dollar will be toilet paper if China leaves us out to dry but will they?
hurryingfred 2 years ago
TURN DOWN THE VOLUME!!!!!!
Dragontoad 2 years ago
Nice tan.
shekfu 2 years ago
great info......glad your back peter!!!
szczepan4069 2 years ago 2
Thanks Peter!
hermbilliamherm18 2 years ago
Great info as usual Peter
You do not need a new Mic, you need to adjust the gain downward in audio properties, check both "record" and "playback"
Un check the boost
Always good to hear from you, Never stop posting ~ please~
CTOL1 2 years ago 3
History is written by the victors, I assume the Rockefellers are planning on writing the history books of the future.
rockhuddy 2 years ago 4
Blue Microphones Snowball USB is a good mic.
vashguud 2 years ago
Mike Norman broke in and sabotaged Peter's mic! DAMN YOU NORMANNNNN!!!!!
jerrydawn86 2 years ago 4
PEOPLE. We know the sound is not perfect. Deal with it and listen to what he says. It isnt that bad.
WHEREtheFUNK 2 years ago
Yes Peter, go to Newegg d o t c o m and invest the $20.00 for a decent mic.
Great vid as usual.
EndTheFedRes 2 years ago
Yes, Salem Witch hunt stupidity is still alive and well and it comes in a number of different forms. It seems those who strive for logic and reason are condemed to perpetual minority status, but fortunately the reasonable minority does sometimes prevail: The founding fathers and those behind declaring independence back in 1776 were an example.
LisaJ4Liberty 2 years ago 4
it sounds like the microphone is damaged
1silverBug 2 years ago 4
The Mike is not damaged! Tim Geitner put in a voice scrambler in Peter's computer so his YouTube would so all garbled. Can't you see who is behing this?
valhala56 2 years ago 4
That's funny..I always say people will look back at our era (especially the 80s) and say "WHAT ON EARTH WERE THEY THINKING?? My answer..."WE WERN'T!
whittonmatt 2 years ago
This comment has received too many negative votes show
but he is jew, are you?
hatersfate2 2 years ago
What on earth does that have to do with it..what a stupid question..I;m a human..ARE YOU???
whittonmatt 2 years ago
Peter, you gotta do something about the sound. It's really hard to listen to. I would suggest getting a real microphone, and putting some rugs or something on the wall to reduce the echo in the room.
lubedirect 2 years ago
Government ruins everything. It makes things more expensive without improving results. Education and health care are perfect examples. Why should we believe that government can be trusted to run the economy?
thwurth 2 years ago
Audio is messed up. =/
zetsway5000 2 years ago
It's really hard to understand you. I think your mic's messed up, or the felt fell off.
all3noooo 2 years ago
Man, the sound is bad.
Something needs to be turned down
other than having gone deaf listening to the video, its great to have you back
mejt223 2 years ago 2
Peter, I hate inflation and Distortion equally.
spol07 2 years ago
great point with college tuition! MY GOD!
Arginine88 2 years ago
Agree on your thoughts on the dollar the Feds are manipulating stock market Big time!!! Whats your thought on the big O's delay a decision more trrops to afganastian we need to help are troops there or bring them home.
147megahertz 2 years ago
At this rate I might never go to college, and that might be a good thing...
narutofan1108 2 years ago