Peter Schiff - Dec 6 - CNN Your Money - Part 2

[averageworkinggal]

As for Production being the Answer, Peter, what about the Chinese?

The Chinese can produce everything that the world needs with cheap labor costs that the US can't match.

How to we produce things in competition with the Chinese and their cheap labor?

[bekironur]

Not all is lost yet. Competition with China is still possible. Of course you are right about the fact that the US will not be able to compete with China thru cheap labor. What the US can do is focus on quality goods.

[averageworkinggal]

That is "World is Flat" Globalism theory that Peter Schiff does not seem to understand.

That theory is that the production of less sophitisticated products will flow to the Cheap Labor countries as the advanced countries like the US dominate the technically sophitisticated product scale to maintain their comparative advantage.

The problem is that Obama voters are too stupid to be productive making techincally sophisticated products.

Only 30% of the US population are college educated.

[atheistnarnia]

"with what money?"

lol

[FongoBongo]

When is the media going to stop distancing them from Peter Schiff and start embracing him as someone who has been right about everything. Come on people, its not coincidence, listen to this man and implement his recommendations.

[putittogether]

The socialist fascist media monkeys lose again.

[FattKidd]

If Big 3 go down, we'd all become 'socialists' because we'd all be standing in bread/soup lines. This country/economy could not withstand the immediate loss of 3+million high-paying jobs. You'd see the collapse of transportation industry, food-service, total housing collapse, possibly the US gov't itself. 55% of all jobs in US are directly or indirectly provided by local/state/Fed gov't. Those jobs would also disappear. Personally, I could weather that storm. Could you?

[szopen76]

FattKidd, I live in Poland, Europe. It was communist country. The state provide almost all jobs. Of course, you would say that we shouldn't touch anything, don't privatize, because millions of people will lost their jobs.

Yet, we have now most of people in private sector and much better economy than 20 years ago.

Believe me, free market DOES WORK. Socialism does not.

[FattKidd]

I'm not arguing for socialism per se. What I'm saying is, the gov't needs to become more pro-industry & less pro-bank. The US has adopted trade/tax policies over the last 30 yrs that actually ENCOURAGES companies to move offshore & consolidate. What we're left with now are companies that are 'too big to fail' & debt. In other words, there is no 'free market'. Corporations have taken over gov't & used it to stifle innovation, competition & FAIR trade/wage/tax policies.

[FattKidd]

'Free Market' Capitalism here, has been mistaken for Fascism. You cannot allow companies to grow so large that for them to fail, would destroy you country as well. Also know that no major industry in the US grew on it's own volition. ALL had MAJOR support from gov't. Rail, Coal, Steel, Auto, Banking, Agriculture, you name it. They ALL use gov't to their advantage & have bought & paid for the best Democracy on the planet. In other words, they do not believe in free/fair markets.

[FattKidd]

They believe in profit & growth at any & all cost, without ethical/moral concern for any other human beings let alone their 'country'. These huge, multinational corps care not about 'country'. They will try to sell you 'patriotism' if they think it'll make them $, but could care less about USA or Poland. I agree socialism/communism is bad but so is unadulterated greed. You need a balance. The 'people' have to have some control. Right now, it's 'of, by, & for the Corporation' & it's killing us.

[tillo2008]

I retract my statement about appreciating how Peter Schiff is treated on this show. It totally changed on this video

[FGTBOGSAT]

CNN and CNBC treat Peter Schiff like dirt. Peter Schiff has great insight on this economic depression -- let him talk!!!!!!

[stealthswimmer]

They gotta have time for everyone. As i've mentioned to other folks, I know they don't take him seriously and THAT'S the problem...but the problem is not how they don't let him talk or whatever. That's due to time constraint. If they didn't wanna hear him talk, they wouldn't have him at all.

The real problem is that they continue not to take him seriously even though he's been correct.

[FGTBOGSAT]

Can we have an interview with Peter Schiff minus the idiots?

[thrashertm]

Professional cuntrag Ali Velshi changes the subject when Schiff is about to tear the pathetic arguments of the other guests apart.

[engine2truck6]

Yeah, true. At least he is on there... and in the future, perhaps people will hear Mr. Schiff as they look back on this SECOND Fed-created cataclysmic depression.

[danfg]

It's so amazing how they don't listen to Peter Schiff and dismiss him like he's some guy stuck in an ivory tower in "ideology" land.

It must be emotionally exhausting to keep your composure around these babbling lunatics.

[DoctorJohnJGibbons]

Let me get this straight...Nobel fraud Krugman and "Dr." Bernanke aren't ivory tower types but Schiff who runs a retail brokerage is.

Got it.

[FattKidd]

Why you gotta dog Krugman? He predicted this shit WAY before Schiff! Read, 'The Great Unravelling' which I think was from like 2002/2003. I don't remember Schiff saying anything about this bubble economy back then. I think Schiff deserves some credit on certain ideas like the bank bailouts, printing money, etc. We shouldn't have done that. The only time the US gov't should run debt or print money is for infrastructer or investment in something that is productive. This Hamiltonian finance.

[FattKidd]

In other words, you don't throw money at companies so they can pay their bills. Which is what we did for the banks. And, short term, what we're doing for Big 3. BUT, if done right, money we invest in Big 3 should be just that, an investment on future returns of profit on productivity. In this regard, Hamilton argued that you are not aquiring debt, but loaning on future returns. This is EXACTLY the type of spending we should be doing. Not bank bailouts. To let Big 3 go down without trying to

[FattKidd]

help out is irresponsible. It would take us 50 yrs or more to recover. Collapse of industry would be a death nell. Dollar would definately collapse which would further prevent 'free market' investment/entrepreneurship. Fact is, there NEVER has been a free market, never will. Humans inherently want to tilt the game to their advantage & they will use WHATEVER gov't is in control to try to do just that. MONEY/GREED is what has killed capitalism. No system works without ethics & morality.