This is scary, Wharton is one of the TOP business schools in the US and this "professor" is totally clueless!!!!! The worst ideas come from the ivy league
americans dont need to be building ANY houses right now, or buying cars they cannot afford. the private sector should not be interfered with by government, printing money is a FALSE economy, and its getting worse!!! Obama the Disaster hasnt created any real jobs, the unemployment rate is still above 9.5%!!!, yet they spend trillions, figure that one out (?) NOT money well spent. Good luck, asian and indian economies will still truck ahead at 9-10% growth every year.
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the price of a 20 lb bag of rice has gone from $3.99 to $10.99 in the last couple of months.if thats not inflation i dont know what is. peter schiff is right again.
Actually the main reason for the rising cost of food right now is because it's all going to biofuels, which is a big scam. However Peter is right about inflation and I can't imagine how bad it's going to be when food prices increase due to biofuels with inflation piled on top of that.
o Israel has killed Americans (eg. Sailors on USS Liberty, Rachel Carrie, etc...)
o Israel spies on this country.
o Israel blackmails our corrupt politicians.
o Israel steals our taxes.
o Israel uses our country as their toilet.
For more info, see visit my "Favorite" tab.
Please distribute this post and tell your Senator and/or Representative about Israel's killing Americans, heinous crimes, stealing our taxes, and its spying on USA. Peace!
What I do not understand is if we are trillions in the hole. How will printing trillions and giving it to the same folks who lost it in the first place help us. Will building more houses help us the only thing we make is houses and cars. Will building 5 or 10 million more houses in the next 10 years lending more mortgage money solve our problems. The definition of insanity is doing the same thing over and over and expecting a different result. Are financial experts really from this planet?
The entire global system is being dismantled and it was flawed as soon as gold was unpegged from paper notes. Paper is paper. You can't cut inflation or the cost of living with the deficits you have and by PRINTING MORE. It's SO SIMPLE to understand. People work and get paid in paper. Not gold, not silver, not copper, not platinum. That is why credit cards are named the way they are. It is pure deception and we walked right into slavery.....willingly. Paper money is created out of nothing.
Why would they bring that idiot on to debate against Peter? There is no debate anymore! Peter was right, and he's still right. We need a free market, small government economy!
First off, the trade deficit can NOT go on for ever. You do not export for the sake of exporting. The reason you export is to get go import other stuff. Exporting withouth importing equals giving stuff away. Importing withouth exporting equals getting stuff for free. Over time imports must match exports.
To stop the trade deficit you must either import less or export more. If you want any stuff you better start making them.
Secondly, the asian economies are not a wreck. They have both savings and production. Their only problem is that they have hoarded worthless dollars, and are about to realize the loss. However that is not a real cost. The cost occured when they gave stuff away for free (or for worthless dollars), once they stop doing that and starts consuming their stuff themselves, their standard of living will increase.
UNIVERSITY OF FUCKIN PENNSYLVANIA, FINANCE PROF AT A BUSINESS SCHOOL, this is why our country is fucked up now, we got dudes like this teaching kids the wrong things, then when the shit hits the fan no one came ever comprehend why its happening because it goes against everything they learned in school
Last modified on: 11/01/2009 7:48:50 AM LTTE fires at escaping civilians; 7 civilians killed - Kilinochchi
Seven innocent Tamil civilians including two children, on their way to cleared areas seeking protection for their lives, were gunned down by the LTTE terrorists this morning, 10 January.
"that other guy said that there is no inflation?" Mr. Siegel only sees what it can be seen, but a good economist sees that which cannot be seen: The dollar only "seems" strong because of the massive deleveraging by private companies and individuals, but it won't last. Peter is right, we will soon experience hyperinflation, not the Zimbabwe kind of course, but something more akin to Latin American countries in the 70s.
The socialists want to regulate a human instinct like greed, which is like regulating love or hate. Greed by itself is not a crime! They want to change human nature through government´s force; instead of letting people make mistakes, take responsibilities for their actions and finally succeed. They are social engineers!!
Totally agree. Greed is NOT bad as long as it is offset by RISK AVERSION. A free market keeps risk aversion high enough to control greed, but GOVERNMENT, by LOWERING risk and creating moral hazards through safety nets, insurances and bailouts, took the reins off irrational greed and enticed the bad and wasteful investments.
If only 5% Americans had the ability to think like you, America would not be in this mess right now. But sadly, a vast majority of the population is completely brain dead. They won't wake up until they wake up on the street.
There was private irresponsible behaviours... because government created the conditions to promote them. Human economic/business behaviour is driven by two big forces: greed and fear, which balance each other. Problems begin when the fear factor is removed. When government promotes houses for everybody through cheap money, several centralized agencies ensuring mortgages, social programs pushing for bad private decissions...
vendor72 - experimentsingeekdom - DO NOT WORRY ---- Unemplyment will be high , HYPERINFLATION NO ... 250.000.000.000 barrels of OIL in IRAQ , converted to money 15.000.000.000.000 DOLLARS that is private wealth, WAR in IRAQ is wealth driven WAR. GOVERMENT will print money and back it with CRUDE IRAQI OIL ,,, SO HYPERINFLATION is NO NO. IT is hard to understand HYPERINFLATION, THAT is NO GOOD. WAR IS BETTER. MAIN reason for civil war in YUGOSLAVIA 1992 was hyperinflation.
we don't have excessive inflation yet, but we do have a type of inflation at a higher rate than the government figures with a divergence between diminishing household incomes and rising consumer pricing.
once china start spending those dollars they got,those stupid dollars losing value, inflation will be right around the corner. it would cause a run on the dollar and hyperinflation! be prepared
Yup. Forget about the money being created NOW by the Fed - all the money needed for hyperinflation already exists in the vaults of (so to speak) Central Banks throughout the world - biggest of 'em all China. I think all its gonna take is China. End of story.
Both miss the point to an extent. When Smith wrote the Wealth of Nations he wasn't proposing a laissez-faire market but a market economy with responsible government. That being said I'd say that government intervention may be the right way to go here, but at the same time Schiff is probably right that Obama might just be making it worse. It comes down to the details, and not enough of those were discussed, both in the video and comment section
So if I want to get educated by such great lights as the solarium baby boom types as Jeremy Siegel, I have to pay $80,000 a year? You got to be kidding me...
College tuition is another bubble to pop. People mortgaging education???? This is insanity. 40 thousand a year for college at some places? Something is wrong with this picture and that something is government intervention. Super low interest rates will just keep putting fuel on the fire and in the end, someone is going to get really hurt. This needs to stop now. This credit cant go on!
Schiff is the man...it is so simple...less spending, more saving. Printing more money will lead to massive inflation and decrease the value of the American dollar. I bought Peter Schiffs book, absolutely brilliant. Ron Paul/Peter Schiff in 2012 !!!!!!!!!!!!!!!
This stuff is serious and the answer is always more government. Real change would be something diffrent like less government as many people like Schiff talk about.
Jeremy Seigel couldn't make any money in the private sector. Typical academic pundit. You can tell he doesn't believe in Laissez-faire economics, and thinks government has a place outside of fair trade.
Wow, Peter slammed that guy on all points, he had him stuttering and trying to recover an argument he wasn't even able to make in the first place. Awesome lol
Today's NY Times, page A10, "But econmists said the tax credit ($500 per indidual, $1000 per family) could have drawbacks as an econmic stimulus measure, mainly because people usually save part of the money or use it to pay down debt. That makes good sense from an indivudual's standpoint but does nothing to increase econmic activity."
Remember Bush after 9/11? "Go out & spend," he said. The socialist-corporatocracy is responsible for this mess. Time to save and produce and not spend & borrow.
Damnit i feel like my head is going to freaking explode! These idiots need to held for treason. EVERY LAST COMMUNIST SCUMBAG OUT THERE. May our vets defend our constitution from domestic enemies like they swore to do.
Don't just rely on the military or former military vets to protect you. Regular civilians need to take up arms again and fight back, just as those regular civilians did in the first revolution. Besides our military may be used against us.
But as a former soldier of the US Army myself, I can say that you aren't alone.
No i agree! When i went to the valley forge gun show i know there are tens of thousands in the Philly area who are willing to die to protect our liberties.
the difference between Peter and the others is that Peter talks about the future with historical perspective, while the others just talk about "the short run" and what they see now. keynesians don't give a bleep about the long run. someone who gives advice about the future and cares about the long run is more useful than someone who just states obvious remarks about the present.
Seigel needs the ordinary Joes to keep their money in stocks whilst the smart money gets out. Everyone knows what is going on. Do not confuse stupidity with treason. Seigel is a fuking traitor.
It's true that these civil projects Obama is planning won't help. In the '30s we needed infrastructure. That's why it worked. We need production and exports. Thats what our currency is based on.
57 Trillion Dollars in debt. FIFTY SEVEN TRILLION DOLLARS. Who is kidding who here? Really? We produce almost nothing, 66% of our economy depends on us spending loaned money!! We can only print more money if someone is stupid enough to buy it. But as the world is quickly learning, that is a horrible buy. I a word you are...fucked.
FIFTY SEVEN TRILLION DOLLARS !!!
Keep voting for the same two assholes (democrat or republican) and this is what you get. People are sheep.
Phil you are on complete opposite sides of Peter on the real estate market, how do you support him so much and yet promote real estate. Do you believe Peter is absolutely wrong on real estate but correct on everything else? Peter says to not buy houses, he is rich and wont even buy one himself, he is currently renting. He says if you want to become a millionare in real estate you first must be a billionare in real estate. Can you enlighten me on this situation Phil?????
Why is it that so many sheeple want to believe some guy just because he's older, has impressive degrees, is mug as hell, and always backs the status quo??? Siegel is an idiot, just like Paulson and all the Clintonite corporate lackeys that Obama is lining up. Go get 'em Mr. Schiff!
Listen to the man and save your damn money! It should feel good to have lots of cash in the bank instead of a house full of constantly depreciating crap.
If the American dollar goes down I doubt that the Canadian dollar will follow. It will most likely explode, going past the gains made in 08. As for your dollar, I would have to agree.
Schiff kicks butt! Obama and his economic trolls want to force more alcohol down the throats of the passed out drunks who went on an economic bender for the past decade! Thanks but no thanks stupid government!
peter is like the pyro telling us how to put out the fire. get a real job dont make money off the sweat of other throught speculation. greed is your downfall modern day slave masters of the destitute. republicrates are destroying the democracy.
careful, lots of people throw around the word socialist as if it were the next nazi germany... others think that nationalized health care is a socialistic program. Meanwhile, almost every 1st world country has nationalized health care except the US... as an example.
there is no socialist crap going on right now or you'd be asked to take the same wage as your janitor.
i don't agree. socialism is not about equal wages ( that is communism [ not even communism because with communism there will be no money)). this "stimulus packages" are exactly socialism.
That my whole Point we are so easy to clean others backyards in the World but our own Dump site we got going on in our own Fenced Yard! lol We americans should take care of ourselves and then let the goodness pour out from there instead of playing God's Role of Judgement, when we should be Judging ourselves to make ourselves an our nation of GOoD People! The 4 horsemen are Riding!
If you don't know who the 4 horsemen are go Read Revelation 6 to help you understand.
Rev: 2And I looked and saw a white horse. The man who rode on it had a bow to shoot arrows. A gold crown for his head was given to him. And he went out fighting to win the victory over his enemies. And another horse came out. It was red. The man who rode on it was allowed to take peace away from the earth, so that men would kill each other. The man who rode on it was given a long knife or sword.
I looked and saw a black horse. The man who rode on it had scales in his hand to weigh things. I heard a voice among the four living beings. It said, `Four cups of wheat for bread will sell for a day's wages. Twelve cups of barley will sell for a day's wages. But do not destroy the oil and the wine.'
to inflate your government means that all the people who invested in the usa are ging to be wiped out, their savings wiped out - who would invest in america anyway??? - 2% return on the 10 year bond?, buying it with premium and the dollar falling - come on....
Peter is right but the solution to the debt problem is inflation. All creditors (of US debt) have to loose their investment. The situation is so bad that Peters way (let the bad one's fail) will lead to total chaos and system collapse. As mad as the money printing seems for now - it is the only way ! A depression like in the 30's is not the worst what could happen!
Inflation is not the solution because debt isn't the problem. Our monetary system is the problem as noted by economics writers von Mises, Hayek, Rothbard etc. Balanced goverment budgets, lower taxation, private determination of interest rates, and most importantly, a currency that cannot be tinkered with are the solutions to the monetary problem.
When the government can't counterfeit its people's currency, then it will have to raise taxes, or balance its budget. No booms, no busts.
Good point ! How to achieve that ? Cancel all debt (incl. pensions etc.) & issue new currency ? ( Amero based on the gold standard ? ). What has to happen to elect a congress & president to make that kind of "change" ? To identify the problem is not enough ! It requires political solutions and not some economic writers. If these political solutions are not perfectly implemented we are talking dictatorship..
Unfortunately, I have no optimism that the situation will turn out good for anyone. You are right that it requires action, but when millions of voters decide to give power to officials who will pillage the nation's wealth on behalf of their constituents, the Republic cannot survive.
I talk to people all I can, explaining what the Constitution says, the merits of sound money, and 100% reserve banking, but I am afraid there are too many people who believe they are 'owed' something.
A consumer based society has no future anymore because of the depletion of many important resources. It's a joke to believe in the survival of a car dependent society in the post peak oil era, this will not be a sustainable way to live in coming decades. The consumer society must evolve back into former less complex forms of natural living. We have to end our dependency on money and energy. We need to live sustainable again. Today's consumer based economy is a tragic mistake unfit for real life.
That seems like the story to come. Americans could lose the weight anyway. There's also a big layer of fat around the brain, courtesy the MSM. They won't be missed.
here comes the new world order of the rothschild! armageddon all over the world is just beginning! war, economic collapse, currency collapse,etc!! fuck those rothschild monsters!
Wait till the second wave of forclosures hit the fan. The retail failures are around the corner. Promises to be interesting so pull up a chair and grab your popcorn and lets all have a hell of a ride/crash and burn.
LOL CNN is as bad as Fox, this is some funny shit! - The anchor makes it seem like Peter has partisan interest in hacking Obama, these are the same reactionary and knee-jerk maneuvers of Fox
Man this guy is thick. I have to give Peter Schiff credit for dealing with these idiots. Why is it that everyone knows that central planning doesn't work, yet (almost) everyone of these "gurus" believes we need some sort of centralized top down plan?
That guy doesn't want to aknowledge the fact that it is the federal Reserve that creates these boom bust cycles.. I belive were in for another boom followed by a bust much bigger than the one were in.. America is the biggest Ponzy Scheme around without new money the system fails. Its time people wake up and realize just how fucked they really are the truth will set you free
A lone sane voice in the multitude of ignorance...wait till gold hits 2000 an ounce in the next 18 months and your dollars will be lining the bottoms of water fountains in the malls where pennies and nickels once were
I agree and have bought gold since last Sept. I wonder, though, what good will our gold do us when a loaf of bread is $10 or? It's a good solid store of wealth, I agree. It would be more comforting, though, knowing that there was rainbow at the end of this mess. Unfortunately, I foresee the N.A.U., the Amero, gold confiscation, fascism,FEMA Camps, population reduction and martial law coming to America.
As you wrote, gold is a good solid store of wealth (purchasing power). When the average price for a loaf of bread is $10, then gold will likely be selling for $3000 an ounce or so. The gold will still buy as much as before. If things get really crazy, then the purchasing power of gold and silver may even increase a great deal as people say to hell with "dollars". We'll see. Get some silver too, the gold:silver ratio is very high right now.
Real inflation is 16% and growing. The core inflation numbers that the government release does not include everyday living costs like food and gas and oil. That kind of numbers not include that. Government number are fudged. BIG FAT FUDGE!!!
This commentator is so biased against Peter Schiff it is not even funny. Just another attempt by the corporate controlled media to mislead the masses.
I did my undergraduate and graduate here in the US. Unfortunately, I had to say that most US universities' are overrated. The costs are too high. What's the point of having such high cost in education?
You actually answered your own question. I think these "Professors" such as Siegel need a new economic model before they bring up a new generation to destroy. Funny how they only parrot one type of economic and monetary policy...And we are witnessing their poison fruits destroy our country yet again.
If Peter Schiff keeps appearing on tv and speaking the simple truth people are going to start realizing how important his message is. We have let this country be abused by politicians long enough -- we can't keep tuning out what is really going on.
Peter is also "teaching," just on live TV. A lot of professors "do," as you put it. Some of the professors were "doers," but as they got older, decided to teach. I agree with Peter Schiff, but your statement is overly simplistic and insulting. Why not just destroy the education system? After all, why have people that can't "do" train our kids?
i am going to.. i think someone should if they qualify for at least 2% below what they currently pay - and this is on a fixed rate. if we make this out of this black hole we might not see interest rates this low for 20 yrs. just my opinion.
So America is going to borrow its way out of debt. We tried that in Australia when out debt was 40% of GDP in economics it is called the J curve which is what I think they were smoking when they came up with the idea it is now 165% of GDP.
This is scary, Wharton is one of the TOP business schools in the US and this "professor" is totally clueless!!!!! The worst ideas come from the ivy league
utmost11 9 months ago
lol @ that guy being a professor at a university hahahah.
GreaselessAnkle 1 year ago
Goddamned Schiff is so money.
bajoverga 1 year ago
americans dont need to be building ANY houses right now, or buying cars they cannot afford. the private sector should not be interfered with by government, printing money is a FALSE economy, and its getting worse!!! Obama the Disaster hasnt created any real jobs, the unemployment rate is still above 9.5%!!!, yet they spend trillions, figure that one out (?) NOT money well spent. Good luck, asian and indian economies will still truck ahead at 9-10% growth every year.
bodizone1 1 year ago
Production + Savings = power ....
aviomaster 1 year ago
This Professor should not be in the teaching profession...my God it's pretty pathetic
Realitycleans 1 year ago
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easygoldmoneyfast 1 year ago
Siegel is one of the professors training US business managers. Well I'd say that explains a lot!
kayaker712 2 years ago
"I don't see inflation anywhere, Peter" "-Open your eyes". LOL
quierover1234 2 years ago 2
Pedro wher you buying rice that cheap???? I want to buy from that store please.we pay $21 for 25bls....
chardnj 2 years ago
the price of a 20 lb bag of rice has gone from $3.99 to $10.99 in the last couple of months.if thats not inflation i dont know what is. peter schiff is right again.
pedro4374 3 years ago
Actually the main reason for the rising cost of food right now is because it's all going to biofuels, which is a big scam. However Peter is right about inflation and I can't imagine how bad it's going to be when food prices increase due to biofuels with inflation piled on top of that.
jensinorkt350 2 years ago
This has been flagged as spam show
o Israel has killed Americans (eg. Sailors on USS Liberty, Rachel Carrie, etc...)
o Israel spies on this country.
o Israel blackmails our corrupt politicians.
o Israel steals our taxes.
o Israel uses our country as their toilet.
For more info, see visit my "Favorite" tab.
Please distribute this post and tell your Senator and/or Representative about Israel's killing Americans, heinous crimes, stealing our taxes, and its spying on USA. Peace!
HateAllNazis 3 years ago
why doesnt Schiff run for pres?
limitedplay 3 years ago 2
What I do not understand is if we are trillions in the hole. How will printing trillions and giving it to the same folks who lost it in the first place help us. Will building more houses help us the only thing we make is houses and cars. Will building 5 or 10 million more houses in the next 10 years lending more mortgage money solve our problems. The definition of insanity is doing the same thing over and over and expecting a different result. Are financial experts really from this planet?
jobedied 3 years ago 4
The entire global system is being dismantled and it was flawed as soon as gold was unpegged from paper notes. Paper is paper. You can't cut inflation or the cost of living with the deficits you have and by PRINTING MORE. It's SO SIMPLE to understand. People work and get paid in paper. Not gold, not silver, not copper, not platinum. That is why credit cards are named the way they are. It is pure deception and we walked right into slavery.....willingly. Paper money is created out of nothing.
truthtribe 3 years ago
peter open your eyes
yoky25 3 years ago
Are you serious?! Wow! He is right the Dollar will collapse.
malibuhur12 3 years ago
Actually something worth watching on CNN.
The Obama needs to listen to Peter Shiff instead of those Harvard or Princeton advisers hes got around him.
pepsimannampepsi 3 years ago
Why would they bring that idiot on to debate against Peter? There is no debate anymore! Peter was right, and he's still right. We need a free market, small government economy!
AnduinX 3 years ago
im liking this peter shiff guy
kingamin77 3 years ago
I can see an obvious flaw in Schiff's thinking.
America producing more an exporting more will only work if overseas markets exist for those products.
The rest of the world's economy is in the same ruined state as the US economy.
They are not going to be buying anything.
bustermk2 3 years ago
First off, the trade deficit can NOT go on for ever. You do not export for the sake of exporting. The reason you export is to get go import other stuff. Exporting withouth importing equals giving stuff away. Importing withouth exporting equals getting stuff for free. Over time imports must match exports.
To stop the trade deficit you must either import less or export more. If you want any stuff you better start making them.
paganpg 2 years ago
Secondly, the asian economies are not a wreck. They have both savings and production. Their only problem is that they have hoarded worthless dollars, and are about to realize the loss. However that is not a real cost. The cost occured when they gave stuff away for free (or for worthless dollars), once they stop doing that and starts consuming their stuff themselves, their standard of living will increase.
paganpg 2 years ago
UNIVERSITY OF FUCKIN PENNSYLVANIA, FINANCE PROF AT A BUSINESS SCHOOL, this is why our country is fucked up now, we got dudes like this teaching kids the wrong things, then when the shit hits the fan no one came ever comprehend why its happening because it goes against everything they learned in school
pimpinkin87 3 years ago 3
Buy GM.
German car owner = stupid, paying for big iron with nothing new.
I-pod consists higher technology than German cars.
kkkusa99 3 years ago
CNN: Srilanka News:LTTE defeating terrorists killed innocent civilians
Last modified on: 11/01/2009 7:48:50 AM LTTE fires at escaping civilians; 7 civilians killed - Kilinochchi
Seven innocent Tamil civilians including two children, on their way to cleared areas seeking protection for their lives, were gunned down by the LTTE terrorists this morning, 10 January.
prasada1 3 years ago
that other guy said that there is no inflation??????????????????????? Where does he live and does he ever come outside?????????
dollarisdead 3 years ago
"that other guy said that there is no inflation?" Mr. Siegel only sees what it can be seen, but a good economist sees that which cannot be seen: The dollar only "seems" strong because of the massive deleveraging by private companies and individuals, but it won't last. Peter is right, we will soon experience hyperinflation, not the Zimbabwe kind of course, but something more akin to Latin American countries in the 70s.
ftorresgamez 3 years ago 2
Peter is not ever suggesting buying realestate. Why is Phildecarlois trying to imply differently?
arborist196o 3 years ago
The socialists want to regulate a human instinct like greed, which is like regulating love or hate. Greed by itself is not a crime! They want to change human nature through government´s force; instead of letting people make mistakes, take responsibilities for their actions and finally succeed. They are social engineers!!
xaviqaz 3 years ago
"Greed by itself is not a crime!
Totally agree. Greed is NOT bad as long as it is offset by RISK AVERSION. A free market keeps risk aversion high enough to control greed, but GOVERNMENT, by LOWERING risk and creating moral hazards through safety nets, insurances and bailouts, took the reins off irrational greed and enticed the bad and wasteful investments.
ftorresgamez 3 years ago 2
If only 5% Americans had the ability to think like you, America would not be in this mess right now. But sadly, a vast majority of the population is completely brain dead. They won't wake up until they wake up on the street.
experimentsingeekdom 3 years ago
There was private irresponsible behaviours... because government created the conditions to promote them. Human economic/business behaviour is driven by two big forces: greed and fear, which balance each other. Problems begin when the fear factor is removed. When government promotes houses for everybody through cheap money, several centralized agencies ensuring mortgages, social programs pushing for bad private decissions...
xaviqaz 3 years ago
Is everyone in the media this stupid? I don't listen to anyone else other then Peter. It's no wonder the US is in such trouble.
smasila 3 years ago
Jeremy Seigel is a imbecile. He doesn't understand the simple basics of the discussion! My 14 year old has a better grasp.
pretorious700 3 years ago
RON PAUL/PETER SCHIFF IN 2012 !!!!!!!
TheNRA4ever 3 years ago 3
vendor72 - experimentsingeekdom - DO NOT WORRY ---- Unemplyment will be high , HYPERINFLATION NO ... 250.000.000.000 barrels of OIL in IRAQ , converted to money 15.000.000.000.000 DOLLARS that is private wealth, WAR in IRAQ is wealth driven WAR. GOVERMENT will print money and back it with CRUDE IRAQI OIL ,,, SO HYPERINFLATION is NO NO. IT is hard to understand HYPERINFLATION, THAT is NO GOOD. WAR IS BETTER. MAIN reason for civil war in YUGOSLAVIA 1992 was hyperinflation.
aviomaster 3 years ago
Jeremy Seigel is an IDIOT and has ALWAYS been dead WRONG. I am not sure why they keep inviting him back.
experimentsingeekdom 3 years ago
USA and UK are f**ked.
vendor72 3 years ago
This has been flagged as spam show
Truer words were never spoken.
experimentsingeekdom 3 years ago
we don't have excessive inflation yet, but we do have a type of inflation at a higher rate than the government figures with a divergence between diminishing household incomes and rising consumer pricing.
mattflowmofo 3 years ago
once china start spending those dollars they got,those stupid dollars losing value, inflation will be right around the corner. it would cause a run on the dollar and hyperinflation! be prepared
jeffsst 3 years ago
Yup. Forget about the money being created NOW by the Fed - all the money needed for hyperinflation already exists in the vaults of (so to speak) Central Banks throughout the world - biggest of 'em all China. I think all its gonna take is China. End of story.
experimentsingeekdom 3 years ago
Both miss the point to an extent. When Smith wrote the Wealth of Nations he wasn't proposing a laissez-faire market but a market economy with responsible government. That being said I'd say that government intervention may be the right way to go here, but at the same time Schiff is probably right that Obama might just be making it worse. It comes down to the details, and not enough of those were discussed, both in the video and comment section
h2oaso 3 years ago
Jeremy is a monkey. Schiff is brilliant.
Victord2000 3 years ago 2
that old fuck must be senile.. i guess he forgot about the carter years? High unemployment and double digit inflation.
emp0rizzle 3 years ago
So if I want to get educated by such great lights as the solarium baby boom types as Jeremy Siegel, I have to pay $80,000 a year? You got to be kidding me...
wreagfe 3 years ago
College tuition is another bubble to pop. People mortgaging education???? This is insanity. 40 thousand a year for college at some places? Something is wrong with this picture and that something is government intervention. Super low interest rates will just keep putting fuel on the fire and in the end, someone is going to get really hurt. This needs to stop now. This credit cant go on!
30percentplusreturns 3 years ago
Schiff is the man...it is so simple...less spending, more saving. Printing more money will lead to massive inflation and decrease the value of the American dollar. I bought Peter Schiffs book, absolutely brilliant. Ron Paul/Peter Schiff in 2012 !!!!!!!!!!!!!!!
TheNRA4ever 3 years ago
Views: 6,910 Text Comments: 127
BenHileday 3 years ago
This stuff is serious and the answer is always more government. Real change would be something diffrent like less government as many people like Schiff talk about.
BenHileday 3 years ago
722 military bases around the world , huge goverment , will cause american people , to rise and cut the goverment size in half .
aviomaster 3 years ago
That would be my dream come true. I say we join forces and bring this chance forcefully
danielsp9 3 years ago
and have all those soldiers on the job marked. i hope you study medicine or something! but it has the happen idd!
jeffsst 3 years ago
Jeremy Siegel is an idiot, just shut up and listen to the man (Schiff) that tells truth you old fart.!!!
drone25 3 years ago 2
agreed. All these schooled geniouses...they didn't see any of this coming.
justgetsome 3 years ago
Peter is a very patient man...
dct1960 3 years ago 2
Jeremy Seigel couldn't make any money in the private sector. Typical academic pundit. You can tell he doesn't believe in Laissez-faire economics, and thinks government has a place outside of fair trade.
cmcphee 3 years ago 2
"More production, and less consumption". I like that.
Forsure3333 3 years ago
If you produce more you will have to have someone to consume more as well.
Frugality...that's what we need.
heavyarms117 3 years ago
stupid bull!!!
wdcsucks1 3 years ago
Ron Paul/Peter Schiff 2012
davidedwardclark 3 years ago 3
OMG I saw Jeremy Seigel before, the man is blind.
flyinggeng 3 years ago
Wow, Peter slammed that guy on all points, he had him stuttering and trying to recover an argument he wasn't even able to make in the first place. Awesome lol
LordAidenWolf 3 years ago
Today's NY Times, page A10, "But econmists said the tax credit ($500 per indidual, $1000 per family) could have drawbacks as an econmic stimulus measure, mainly because people usually save part of the money or use it to pay down debt. That makes good sense from an indivudual's standpoint but does nothing to increase econmic activity."
Remember Bush after 9/11? "Go out & spend," he said. The socialist-corporatocracy is responsible for this mess. Time to save and produce and not spend & borrow.
lapidarius11 3 years ago
This guy is teaching college students? No wonder our economy is collapsing.
jesuslover037 3 years ago 9
Damnit i feel like my head is going to freaking explode! These idiots need to held for treason. EVERY LAST COMMUNIST SCUMBAG OUT THERE. May our vets defend our constitution from domestic enemies like they swore to do.
mercen144 3 years ago 2
Unfortunately the world is full of those brainwashed assholes...
Kloppy86 3 years ago 3
Don't just rely on the military or former military vets to protect you. Regular civilians need to take up arms again and fight back, just as those regular civilians did in the first revolution. Besides our military may be used against us.
But as a former soldier of the US Army myself, I can say that you aren't alone.
LordAidenWolf 3 years ago
No i agree! When i went to the valley forge gun show i know there are tens of thousands in the Philly area who are willing to die to protect our liberties.
mercen144 3 years ago
the difference between Peter and the others is that Peter talks about the future with historical perspective, while the others just talk about "the short run" and what they see now. keynesians don't give a bleep about the long run. someone who gives advice about the future and cares about the long run is more useful than someone who just states obvious remarks about the present.
pootron 3 years ago
I'm surprised Seigel has the balls to even show his face with Peter Schiff (shows how delusional he really is)
Googel their first debate from early last year.
Sciff was right (on every count).
Seigel (then as now) had no clue.
No surprise though as this (idiot) acedemic had a hand in educating the morons who put us where we are right now.
stewbumer 3 years ago 3
Seigel needs the ordinary Joes to keep their money in stocks whilst the smart money gets out. Everyone knows what is going on. Do not confuse stupidity with treason. Seigel is a fuking traitor.
PeterSodhi 3 years ago 2
is that Leeb the Dweeb's father?
amagilly 3 years ago
We need to build more solar powered houses. We must break our addiction to oil & coal. We need to save 50% of our income.
Only if America builds things it can sell, like solar powered houses, will we be able to stop this DEPRESSION & turn around the economy.
paul8kangas 3 years ago
I used to chew ition. Now i'm in flation : /
cpswyl2 3 years ago
It's true that these civil projects Obama is planning won't help. In the '30s we needed infrastructure. That's why it worked. We need production and exports. Thats what our currency is based on.
smillar98 3 years ago
Jeremy Siegal sounds like my uncle! I told him fine good luck bitch! Starve to death muthafucker!
thesentry2000 3 years ago
i don't see any hyper inflation anywhere...
OPEN YOUR EYES
haha
aquafishsoup 3 years ago
This has been flagged as spam show
57 Trillion Dollars in debt. FIFTY SEVEN TRILLION DOLLARS. Who is kidding who here? Really? We produce almost nothing, 66% of our economy depends on us spending loaned money!! We can only print more money if someone is stupid enough to buy it. But as the world is quickly learning, that is a horrible buy. I a word you are...fucked.
FIFTY SEVEN TRILLION DOLLARS !!!
Keep voting for the same two assholes (democrat or republican) and this is what you get. People are sheep.
putittogether 3 years ago
Phil you are on complete opposite sides of Peter on the real estate market, how do you support him so much and yet promote real estate. Do you believe Peter is absolutely wrong on real estate but correct on everything else? Peter says to not buy houses, he is rich and wont even buy one himself, he is currently renting. He says if you want to become a millionare in real estate you first must be a billionare in real estate. Can you enlighten me on this situation Phil?????
enacku 3 years ago
Why is it that so many sheeple want to believe some guy just because he's older, has impressive degrees, is mug as hell, and always backs the status quo??? Siegel is an idiot, just like Paulson and all the Clintonite corporate lackeys that Obama is lining up. Go get 'em Mr. Schiff!
bnfox 3 years ago
The same reason they believe Oprah when she says someone is a "psychic".
They are sheep, meant to consume what the media feeds them. You cant wake them all up yet, they must be woken up with a bang.
All you can do is prepare yourself. Buy gold, silver, food, water and essential supplies.
The road ahead might be a messy one.
Claytrainor 3 years ago
He's a complete moron and a member of the zionist boys club.
The club loves bigger government because a bigger government SPENDS more and the Jewish Federal Reserve gets to loan them the money to spend.
I'm sick of those bastards screwing up the economy and running us bankrupt.
codernur 3 years ago
Jeremy Siegel is an moron, just shut up and listen to the man that tells the truth you old fart..!!!
drone25 3 years ago
Jeremy Siegel is a moron and idiot
drone25 3 years ago
Thanks Pete, thanks Phil!
Join the Campaign for Liberty!
robpatozz 3 years ago 2
"i don't see inflation anywhere" did he actually say that?
x7isrich 3 years ago
Listen to the man and save your damn money! It should feel good to have lots of cash in the bank instead of a house full of constantly depreciating crap.
fatmoleman 3 years ago
You money is going to depreciate too. Convert it to another currency or commodity.
kalidyne 3 years ago
If the American dollar goes down I doubt that the Canadian dollar will follow. It will most likely explode, going past the gains made in 08. As for your dollar, I would have to agree.
fatmoleman 3 years ago
Schiff is always dead on.
reYKCuf 3 years ago 6
thanks!
UDoHaveMyName 3 years ago
Schiff kicks butt! Obama and his economic trolls want to force more alcohol down the throats of the passed out drunks who went on an economic bender for the past decade! Thanks but no thanks stupid government!
66605 3 years ago
peter is like the pyro telling us how to put out the fire. get a real job dont make money off the sweat of other throught speculation. greed is your downfall modern day slave masters of the destitute. republicrates are destroying the democracy.
rogulet666 3 years ago
Follow all the latest videos of PETER SCHIFF, JIM ROGERS, MARC FABER and RON PAUL at financialtruth0.blogspot . com
Justbeatit999 3 years ago
Peter Schiff is right on the spot - like always!
I am terrified of obamanomics!!!!! can't stand the socialists - they are soooooo dumb.
warpicachu 3 years ago 2
careful, lots of people throw around the word socialist as if it were the next nazi germany... others think that nationalized health care is a socialistic program. Meanwhile, almost every 1st world country has nationalized health care except the US... as an example.
there is no socialist crap going on right now or you'd be asked to take the same wage as your janitor.
tillo2008 3 years ago
i don't agree. socialism is not about equal wages ( that is communism [ not even communism because with communism there will be no money)). this "stimulus packages" are exactly socialism.
warpicachu 3 years ago
Too many college educated Ediots running this Country! College's have been Hijacked by the Idiots that have made a name for themselves!
Budvb 3 years ago
sorry Idiots haha
Budvb 3 years ago
as opposed to the "educated idiots" (not ediots LMAO) who jump on every Y2K, 2012, Alex Jones, Coast to Coast, doomsday scenario that jumps up.
Face it, that's why Schiff and Paul are so popular. They're voices in the wilderness, when it comes to the economic community.
thequietkid10 3 years ago
That my whole Point we are so easy to clean others backyards in the World but our own Dump site we got going on in our own Fenced Yard! lol We americans should take care of ourselves and then let the goodness pour out from there instead of playing God's Role of Judgement, when we should be Judging ourselves to make ourselves an our nation of GOoD People! The 4 horsemen are Riding!
Budvb 3 years ago
If you don't know who the 4 horsemen are go Read Revelation 6 to help you understand.
Rev: 2And I looked and saw a white horse. The man who rode on it had a bow to shoot arrows. A gold crown for his head was given to him. And he went out fighting to win the victory over his enemies. And another horse came out. It was red. The man who rode on it was allowed to take peace away from the earth, so that men would kill each other. The man who rode on it was given a long knife or sword.
Budvb 3 years ago
I looked and saw a black horse. The man who rode on it had scales in his hand to weigh things. I heard a voice among the four living beings. It said, `Four cups of wheat for bread will sell for a day's wages. Twelve cups of barley will sell for a day's wages. But do not destroy the oil and the wine.'
Budvb 3 years ago
Siegel doesn't seem to understand basic concepts...
timedilations 3 years ago
to inflate your government means that all the people who invested in the usa are ging to be wiped out, their savings wiped out - who would invest in america anyway??? - 2% return on the 10 year bond?, buying it with premium and the dollar falling - come on....
0995971056 3 years ago
Peter is right but the solution to the debt problem is inflation. All creditors (of US debt) have to loose their investment. The situation is so bad that Peters way (let the bad one's fail) will lead to total chaos and system collapse. As mad as the money printing seems for now - it is the only way ! A depression like in the 30's is not the worst what could happen!
kalatuppi 3 years ago
Hyperinflation can lead to total chaos and system collapse.
fantasyfootballgod 3 years ago
Sure! Just have to keep inflation in the range of any "normal" 3rd world country ;-)
kalatuppi 3 years ago
Inflation is not the solution because debt isn't the problem. Our monetary system is the problem as noted by economics writers von Mises, Hayek, Rothbard etc. Balanced goverment budgets, lower taxation, private determination of interest rates, and most importantly, a currency that cannot be tinkered with are the solutions to the monetary problem.
When the government can't counterfeit its people's currency, then it will have to raise taxes, or balance its budget. No booms, no busts.
Helionaeic 3 years ago 3
Good point ! How to achieve that ? Cancel all debt (incl. pensions etc.) & issue new currency ? ( Amero based on the gold standard ? ). What has to happen to elect a congress & president to make that kind of "change" ? To identify the problem is not enough ! It requires political solutions and not some economic writers. If these political solutions are not perfectly implemented we are talking dictatorship..
kalatuppi 3 years ago
Unfortunately, I have no optimism that the situation will turn out good for anyone. You are right that it requires action, but when millions of voters decide to give power to officials who will pillage the nation's wealth on behalf of their constituents, the Republic cannot survive.
I talk to people all I can, explaining what the Constitution says, the merits of sound money, and 100% reserve banking, but I am afraid there are too many people who believe they are 'owed' something.
Helionaeic 3 years ago
What has to happen? Lead poison I'm afraid. they will not give up their power so easily. Ignoring the peoples olive branch can only work for so long.
Peaceful revolution if possible, bloody revolution if necessary.
cowboy1165 3 years ago
We'll see....
pismo10 3 years ago
Well America, you all sat their and partied even after you found out the Iraq war was a lie.
You killed 2-3 million people.
The whole world excepted you "free" assholes to stand up.
But you didn't do anything.
Now you are all gonna pay for your apathy and your sins.
Karma is a bitch...
NookulerFreedom 3 years ago 2
couldn't agree more
benq100182 3 years ago
lol goverment prints $1 trilion (probably a lot more) and this guy say there will be no inflation. who is this jackass?
philippe1985 3 years ago 2
A consumer based society has no future anymore because of the depletion of many important resources. It's a joke to believe in the survival of a car dependent society in the post peak oil era, this will not be a sustainable way to live in coming decades. The consumer society must evolve back into former less complex forms of natural living. We have to end our dependency on money and energy. We need to live sustainable again. Today's consumer based economy is a tragic mistake unfit for real life.
Bernd1964 3 years ago 3
We'll get there one way or the other. As of now, it looks like the transition will be rough.
GohanMH1 3 years ago
That seems like the story to come. Americans could lose the weight anyway. There's also a big layer of fat around the brain, courtesy the MSM. They won't be missed.
kalidyne 3 years ago 2
guys, we all disagree with jeremy, but lay off the insults, it does a disservice to Peter and his message.
Humphreysguitar 3 years ago
here comes the new world order of the rothschild! armageddon all over the world is just beginning! war, economic collapse, currency collapse,etc!! fuck those rothschild monsters!
stealthpakfa 3 years ago
Jeremy is soo full of shit!
these guys are bein paid to distribute false info to dumb down teh masses...man this is hideous!
VIRUSx17 3 years ago
I agree, and unfortunately many of these "experts" end up in government positions. Paulson has done a bang up job so far...
Unkn0wnGuy 3 years ago
Go Peter call a spade a spade unlike these other fools. It was nice to meet you last year!
mediaboyz 3 years ago
Wait till the second wave of forclosures hit the fan. The retail failures are around the corner. Promises to be interesting so pull up a chair and grab your popcorn and lets all have a hell of a ride/crash and burn.
why4knot 3 years ago
LOL CNN is as bad as Fox, this is some funny shit! - The anchor makes it seem like Peter has partisan interest in hacking Obama, these are the same reactionary and knee-jerk maneuvers of Fox
Philosophocus 3 years ago 2
Classic Quote at 5:47: "I don't see inflation anywhere." (Some government-paid academic)
"Well open your eyes."(Peter Schiff).
kkalayaan 3 years ago 5
Man this guy is thick. I have to give Peter Schiff credit for dealing with these idiots. Why is it that everyone knows that central planning doesn't work, yet (almost) everyone of these "gurus" believes we need some sort of centralized top down plan?
Fascists. Peter Schiff rules!
djsherin 3 years ago 9
Peter Schiff would have been Ron Paul Economic Advisor if Black and White Americans weren't so fucking stupid.
Even if RP had no shot at winning, their MESSAGE should have had the popular vote.
eyewitness043 3 years ago 8
Modern day insurance and banking is basically a massive PONZI scheme. Get money from more people to pay off less people.
geeoogle 3 years ago
Same with social security and medicare... but I guess it's ok when the government does it.
Unkn0wnGuy 3 years ago
That guy doesn't want to aknowledge the fact that it is the federal Reserve that creates these boom bust cycles.. I belive were in for another boom followed by a bust much bigger than the one were in.. America is the biggest Ponzy Scheme around without new money the system fails. Its time people wake up and realize just how fucked they really are the truth will set you free
cyalaterthan 3 years ago 3
That idiot Siegal has been wrong for years... what else is new.
JP5466 3 years ago 3
Maybe its time to sell Alaska ?
geeoogle 3 years ago 2
Has Jeremy predicted anything? No.
Peter has made accurate predictions.
FGTBOGSAT 3 years ago 5
We are freaking doomed! The inmates are running the asylum!
Toneyboy53 3 years ago 6
How can any Keynesian economists even call themselves economists??
More government, more inflation???? This is the blueprint for the economy?? Any jackass with half a brain can see that its a horrible idea.
printo69 3 years ago 2
That lady is so biased, you could see it a mile away....
chone7 3 years ago
A lone sane voice in the multitude of ignorance...wait till gold hits 2000 an ounce in the next 18 months and your dollars will be lining the bottoms of water fountains in the malls where pennies and nickels once were
mike6459 3 years ago 3
I agree and have bought gold since last Sept. I wonder, though, what good will our gold do us when a loaf of bread is $10 or? It's a good solid store of wealth, I agree. It would be more comforting, though, knowing that there was rainbow at the end of this mess. Unfortunately, I foresee the N.A.U., the Amero, gold confiscation, fascism,FEMA Camps, population reduction and martial law coming to America.
lapmedong 3 years ago
As you wrote, gold is a good solid store of wealth (purchasing power). When the average price for a loaf of bread is $10, then gold will likely be selling for $3000 an ounce or so. The gold will still buy as much as before. If things get really crazy, then the purchasing power of gold and silver may even increase a great deal as people say to hell with "dollars". We'll see. Get some silver too, the gold:silver ratio is very high right now.
mariasman100 3 years ago
Real inflation is 16% and growing. The core inflation numbers that the government release does not include everyday living costs like food and gas and oil. That kind of numbers not include that. Government number are fudged. BIG FAT FUDGE!!!
formulaprimer 3 years ago
I remember when I was in high school..and Ronald Reagan's administration,wanted to pass off ketchup as a vegetable!!
AngriestAmerican 3 years ago
Why do all these people refuse to understand that the low interest rates caused reckless loans!
JoeyPencils 3 years ago
No Inflation?
I bought a suzyQ,,and it was $1.39..up from $1.19 a month ago!!!
AngriestAmerican 3 years ago
Food and energy doesn't count. =)
eurohim 3 years ago
Try Little Debbies.
wheateater 3 years ago
This commentator is so biased against Peter Schiff it is not even funny. Just another attempt by the corporate controlled media to mislead the masses.
domande12 3 years ago 2
Peter Schiff forgot to mention that globalization prevents America from manufacturing.
mrzack888 3 years ago 2
artificial currency value is what prevents america from manufacturing.
chadillac19 3 years ago
This comment has received too many negative votes show
jeremy is right!!!
rosewood223 3 years ago
Burn the Fed down to grown. Gold and silver ftw!
Tasadaru 3 years ago 3
LOL
Tasadaru 3 years ago
Peter is brilliant! When will these goofy Keynesians ever learn?!?!
tajlee1 3 years ago 3
very good argument from peter that the Fed and the government encouraged the builders to overbuilt.
jaychins 3 years ago 2
God Bless Peter Schiff. He's one of the only ones talking about the need to promote saving in this country and the obscene cost of college tuition.
People will be amazed at the amount of corruption that Obama's $trillion spending plan will create. Already lining up to be the worst president ever.
Say goodbye to what's left of the free market.
youtototober 3 years ago 4
Peter shoud have his own show
boodastanker 3 years ago 11
Siegel is exactly what's wrong with this country. How the hell is he teaching at Wharton??
DominationCorp 3 years ago 9
I did my undergraduate and graduate here in the US. Unfortunately, I had to say that most US universities' are overrated. The costs are too high. What's the point of having such high cost in education?
benq100182 3 years ago
What I want to know is what are they teaching now.
Borrow as much as possible and refinance that debt as much as possible so you can beat the street?
Paetaor 3 years ago
You actually answered your own question. I think these "Professors" such as Siegel need a new economic model before they bring up a new generation to destroy. Funny how they only parrot one type of economic and monetary policy...And we are witnessing their poison fruits destroy our country yet again.
cowboy1165 3 years ago
UPA Wharton Business School is one of the home of the business "elites" where they are taught how to fuck over the middle class.
devil421 3 years ago 7
If Peter Schiff keeps appearing on tv and speaking the simple truth people are going to start realizing how important his message is. We have let this country be abused by politicians long enough -- we can't keep tuning out what is really going on.
TheRedPriestofVenice 3 years ago 10
Those who can "do", Those who can't "teach".
That's why Peter is where he is and the Wharton teacher is still running a classroom.
tsmith2187 3 years ago 11
Peter is also "teaching," just on live TV. A lot of professors "do," as you put it. Some of the professors were "doers," but as they got older, decided to teach. I agree with Peter Schiff, but your statement is overly simplistic and insulting. Why not just destroy the education system? After all, why have people that can't "do" train our kids?
Fighting89Back 3 years ago
So should I not refi my house?
nico3641 3 years ago
i am going to.. i think someone should if they qualify for at least 2% below what they currently pay - and this is on a fixed rate. if we make this out of this black hole we might not see interest rates this low for 20 yrs. just my opinion.
stshell 3 years ago
Now is great time to buy. Preferrably Interest only. Now is a great time to buy. -CNBC
eyewitness043 3 years ago
So America is going to borrow its way out of debt. We tried that in Australia when out debt was 40% of GDP in economics it is called the J curve which is what I think they were smoking when they came up with the idea it is now 165% of GDP.
So the J curve is really the S bend.
carlfinkle 3 years ago
Like my friend says: "You can't spend yourself rich"
Elasaltaculos 3 years ago 4
I paid 1.99 for head today! lettuce that is. last month it was 1.49
P3coTrain 3 years ago