Dr. Doom - Peter Schiff

[manoman0]

remember "cash for clunkers"? destroying well working, mostly paid off cars to get into new debts....lol

[Linguiphile]

When I first moved to Japan, I was surprised to see that even young Japanese save a lot of their incomes. Several of my friends in their mid twenties had savings of $40,000 ~ $60,000 each. And credit cards and personal cheques were known but rarely seen or used.

[surfer53]

What Bush and Obama are doing is a bigger sell in Canada because at least SOME Americans will wake up and have fiscal sanity. Canadians are too entitled. We've grown up believing that the rich are to blame for all our problems and any "solution" has to include punishing them to supposedly benefit us.

[defendtherepublicNOW]

What he says will never work because it uses common sense and there seems to be none....

[Anothercoilgun]

Where are all those tons of "Refinance your home" now!!! commercials. Hahaha.. people let companies screw them over.

[Anothercoilgun]

I hate the entire notion of tapping into your home for money. What a stupid idiotic fucking joke.

[jammer9119]

Totally agree with this guy. The whole idea of a restructure seems scary, jobs will be massacred and thriving in uncertainty, but it has to be done.

[poodlepink]

So, it's as if I'd got every credit card offered me in the mail and considered myself rich, so I spend, spend, spend money I don't really have. Then I max out the cards. So, I need to start using only the money I make at work and spending no more, not one luxury, and paying down the debt. If I can, I need to get a better paying job, or two, and pay down the debt quickly. I think we may be using credit cards to pay off credit cards at this point. Dr. Doom doesn't agree with doing that.

[uncamilty]

I think that what he is saying is, we have maxed out our credit cards, and we do not make enough money to pay them off. So we apply for more credit cards and continue to spend. Since we can continue to spend, we assume that everything is fine.

But at some point, we can no longer get any more credit, and we have a massive debt that we cannot pay for.

[chancew44]

Ron Paul 2012. Peter Schiff will be a big economic advisor for him as well.

[raguv2000]

dr truth

[Aprize0]

THANK YOU PETER!!!

The ONLY man w/a spine willing to stand up for what is TRUE & RIGHT!! and the stupid sheeple are just NOT getting it!!! As a financial adviser I've BEGGED people to take certain "defensive actions" the ones who did are happy and the ones who didn't...well, let's just say " hind sight is perfect vision!!!

Pay attention to "Life Models"...the Berlin wall fell, Communism fell, certain leadership styles in the Mid East...gone!!!

Now it's OUR turn!!!

Com'on people WAKE UP!!!

[frEbase1]

finally all the stupid sheep are gonna get sheered. i love it lmao

[Aegan15]

dude power in numbers. instead of letting your ego take over, use that passion- the passion I know you have -to wake people up!

[velvetfog]

Sleep is healthy and fun. Try counting sheep instead of shearing them.

[cashman247]

Well folks .. I really don't see much of a recession here, and we have plenty of resources, the stores are busy and so are the malls......I think a lot is hype.

NO I will not say where I am in the USA,,,lol

You will have to figure out where you want to be, I did this back in the 80s....and bought my house cheap...with a 4.5 percent interest rate..yes I did buy my house in1997 and refinanced to a 15 year with only 8 years left..

[akaJoo]

Well that just makes you feel all worm and tingly inside.... Though Canada's stimulus package is a joke.

[cashman247]

There is a war going on now with MEXICO. There so many here that don't belong here, I see more in Oregon than ever.

You see them working at McDonalds and playing there music, I don't go anymore, all the college kids don't have jobs because so many Mexicans working min wage jobs now.. and they collect food stamps... I don't mind if they are here legal, but ship back the ones that are not. Our government doesn't do a dam thing.

[ayouraa]

Yet, they try to block "terrorists" out by taking away the freedom of the people while they can't keep illegal Mexicans out.

[freekrolik]

doom doom doom

[hktraveller]

Wall St fuck up itself

[mikezephyr]

two words: creative destruction.

j. schumpeter pwns the shit out of schiff.

[garyowen4ever]

we can mine our coal, since we are a coal king, and mine every other mineral asset, we can drill for nat gas and oil, we can further develop nuke power,,,,,we could PRODUCE to save consumers serious money and export as available, BUT THANK THE DEMS AND THE REPUBLICANS FOR givingus a dysfunctional country and a phoney cronied up economy. and algore is behind the burgeoning new financial exchange based on cap and trade....

[unworldlything]

Peter schiff is fucking america up!! hahahaha

[ExtraTerrestrials]

wot?

[unworldlything]

wot?

[jerkolino]

wot?

[unworldlything]

wot?

[SwobyJ]

Just when I was actually losing support for The Hour, Schiff shows up - good job! :)

[ToasterPig]

I am not a financially or economically minded person.

The recession is one of those things where I have just sort of understood the problem but not really.

This video explained it in a way that I could understand.

[forrenz]

The Daily Show has done a great jobexplaining why bail-outs are effed-up too.

[ohdeasu]

cool