This video was made last year. Jeremy Siegel predicted we would be having a robust recovery by now. Peter Schiff predicted we're in the early stages of a depression interrupted by stimulus. Looks like Peter was right again.
The longer I get into this video, the more it looks like an epsiode of "Intervention" for Jeremy. Schiff is saying, "we have a problem Jeremy...We have 5 DUI's and we're drinking 5 bottles a day, it's time to sober up." Jeremy is saying "we don't have a problem! We don't have a goddamn problem. We're fine. I know the judge, he'll let the DUIs slide, don't be such a buzzkill Pete."
Wow...Peter Schiff STOMPED this guy. It's almost kind of sad to watch Segal slowly realize how right Schiff actually is as they sit at the table together.
the dude has to remember that Japan has been holding us up because of our victory of WW2 but as the older generation dies off that sentiment will go with them. We don't have that sentiment with China they fought on our side.
@pdxeddie1111 what are you talking about, chinese gov and us gov deep down distrust each other way more than the japanese and the u.s. ever did. They solved that problem with a war, now they are friends. I dont know f we can solve this china us problem/relationship with a war, i think it's alot more complicated than that.
Anybody seen The Princess Bride and know what I am talking about? I was waiting for Peter to pull out the chalices and challenge Jermey to a final battle of wits. Anyways...like the movie, Peter had been preparing for this a long time and it ended pretty much the same here.
Mr. Siegel is dilustional if he thinks the Chinese are going to continue to borrow from us. The Chinese maybe crazy, especially when it comes to their human rights laws, but they certainly are not stupid. Buy Gold and silver people and if you can build a green house to grow your own food, cuz the $h!t is gonna hit the fan. And if it doesn't you'll have investments for the future, so it's a win-win to prepare yourself for economic collapse.
One final point. Exports as a matter of principle are not necessary for a growing economy. The factories in China that produce our consumption goods are owned by American companies! The profit they make in the sell of all those goods is their own--not the Chinese. It doesn't matter if that US company has its factory in China or the US. The geographical location has no relevance.
not all of them..When the chinese goverment depags from the dollar, it will be irrelevant about who owns the Chinese companies, US or Chinese eneterparnuers.
@regelemihai you are correct, the chinese barely make a considerable amount of money from what they produce when it comes to foreign direct investments aka corporations that operate there, but the key is that the company CREATE JOBS there.
This is also why i have always thought that china should just produce for its own citizens.
At around 55:54 he conflates the problem. Yes, China will call it "game over" with the US when it realizes that the dollar holdings it has aren't gonna be worth squat--but that has nothing to do with our export rate; it has everything to do with our monetary policy that devalues the dollar (as I'm sure he'll agree with me on that). He's just jumping from one conclusion to the other methinks.
Two point I keep missing about Schiff: 1. If China's economy is a model we should be following(as Schiff says) of a weak currency and high manufacturing, then why is he railing against a weak dollar? Would a weak dollar make us an export economy as he wishes?
2. If the Chinese would let their currency rise, the cost of labor would also rise thereby hurting their productive capacity. It wouldn't really help them.
@regelemihai 1. we shouldnt follow china's economy. We just need to stop destroying our own. A weak dollar means high gold prices cos that means the dollar is worth lesser. Schiff has always been an advocate for owning gold.
2. YES, ceteris paribus (with other things equal), a weaker dollar or weaker yuan obvious lead to more exports. But i dont think it would be good for the economy as a whole.
Lol, don't be so desperate; I think you made a good point yourself. I still see a lot of holes in all of these arguments, but I'm usre the more I read the likelier it is that I'll fill them up.
love intellectual, knowledgeable, highly energetic debates such as this.with two people who are highly skilled in what they do and what they know. it is the best way to get two sides of a situation and decide who has the better advantage based on facts and statistics (Peter took it of course). This Siegel character didnt do such a great job as a contender (his arguments and "facts" were severely flimsy).great video, hope to see more
peter, you are a bit too agresive in the debate. that grandpa loses with you on every subject, but its no need give him on his knees. let him finish his part and dont interupt him, becouse than he gets this undeserved sympathy from listeners.
just re-watched it a second time, how could an old man who is an economist who's job it is to WATCH whats going on! NOT see the his country's slowing go into poverty is murder!
I just wanted to slam Jeremy when he said that I have to work about 15 to 30 min a day for basic survival. I make about 2k a month, pay 500 for housing, 400 for groceries, 200 on gas, and that's leaving unpredictable incidence.
its notable that toward the end when seigal realises his arguments r being shot down at every turn he becomes very pouty and childish. his 40 yrs of academic brainwashing is being destroyed in 1 hr and he doesnt know how to react except to say that is what they said about japan. absolutley no response to the fact that we dont save, we borrow too much to spend too much. and that the fed has destroyed the dollar and made things worse.
it sppears seigal is adocating some form of perpetual surfdom for the peole of china. he wants them to coninue to work for $2 per hr so they can send products tonthe usa. and he thinks theynwill keep doing itbfor 50 yrs. this is essentiallynhisnonly leg to stand on, they have done it and they will continue to do it. amazing these keynsian people still have credibility.
The Wharton idiot says "who's problem is that" (51:03). So he knows we are in a BS economic system that can only ultimately collapse and he's okay with it. He sees it as unlikely to happen in his lifetime so screw it. He is okay with not being in a position to actually produce anything. He is a shaman, not an economist...and he must not care about the children of this country.
amazing...the ignorance coming out of jeromy's mouth. give me a job as an economy professor...i can talk out my ass and keep citing one example where a country fucked up and make the dumbass assumption that nobody learned from that HUGE mistake.
54:23 I can't believe Peter even has to explain that. This is common sense. Simple stuff 5 minutes can teach you. Apparently 40 years of academic experience didn't make that clear. BTW I think think this is the best argument Peter has made for the China de-peg
It seems like Siegel was completely unable to explain why the Chinese would keep sending goods for paper "forever" other than that they presently do it, and have been doing it for a while. Blind hope much?
You know, what pappy Siegel is saying at least does point to a genuinely fascinating fact. "They love dollars." This is not enough to serve as an argument that US can loan indefinitely... But so far it's true, isn't it? They really STILL are accepting dollars. Why on earth do they keep doing that? I just don't understand it!
This man ought to try leaving his ivory tower some time. We are not living in the same world that existed 5 years ago. Already we are seeing the Wall Street criminals stealing from each other. In the end it will be the best thief that winds up owning everything.
Thomas Jefferson was concise in his early warning to the American nation, "If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered." The Zionist new world order might be delayed but it will not be defeated.
why they picking on that poor old man?? really entertaining to see so rational responses by Peter to out of context data provided as proof. Good educational material for me.
Peter, would love to hear you talk more about Ron Paul presidential run. It looks like he has got a decent shot this time round. Are you involved with the revolution pac?
Its interesting that this debate is fundamentally about what decisions a person will make. Which is the fundamental difference between keynesianism and austrianism
why did you link to the other site? The video there is still just this youtube one, which is impossible to listen to. I'd love to hear it if you can upload a version with fixed sound
One thing that they didn't address was the fact that the stock market and the economy don't necessarily move in tandem, Germany did very well during the 8o's their stock-market didn't go anywhere. Japan's economy will turn to dust over the next few years but as their citizens flee from bonds the stock market is poised for a rebound.
@murrchops that was the 80's every market now trades in almost absolute harmony because they're up to there neck in worthless dollars. The only reason the stock market would go up today is because of inflation and if that occurs you will make a better yield on silver or gold.
@WealthAddicts Rubbish, most of the Japanese don't hold any stocks these days, they are at the bottom of their deflationary cycle while the US, UK and Europe are just entering theirs, The Japanese stockmarket is at multi-decade lows especially when you factor in the strength of the yen. You are right when you say the market will only go up because of inflation because that is just about to be introduced to the Japanese. You're disagreeing and agreeing with me at the same time.
@WealthAddicts You will probably make heaps of money in gold and silver and I think the Japanese will pour into this sector once they realise the yen is inflating, but you would be advised not to hold all your money in gold as you need income to live off while you wait for good selling levels. For serious wealth accumulation well after a change of monetary system stocks are a great place to be if you buy at extremely depressed levels.
After hearing Siegals opening statements I have to say the comments here are way too hard on him. I agreed with everything he said. I do think he is missing part of the puzzle by not looking at malinvestment, debt, and the monetary picture; but hes clearly not an idiot.
His point around 17:40 about capital flows is instructive, though I think he draws some wrong conclusions from it.
Two competent arguments are presented here. I seriously doubt the trade relationship with China lasts 50 years or until the next great global cycle starts and I seriously doubt we're going off a cliff next year. If we get a handle on our fiscal house, raise interest rates, lower wages, play out a necessary period of negative growth, strengthen the dollar, and increase goods manufacturing capacity, and we'll slide through okay and our relationship can continue for another 10 years (compromise)
Siegal come accross as an incoherent drunk, or grumpy senile old man, can barely get words out of his mouth, let alone make cogent arguments. Reminds me of many of my college professors. its not the 1980's anymore Jeremy. Schiff was excellent as always. The fact that Jeremy Siegal is an econ professor at a top tier ivy league school is probably the most bearish sign i've ever seen for the USSA economy.
The link to a "better" video is just a link to the same video, WTF is going on here? Schiff needs to hire some new audio/video guys, his stuff is usually awfully produced, which sucks because the content is s good
See the difference in reactions when the other is speaking near the end. Peter does care what siegel is saying cause it doesnt affect him. But siegal has to shake his head and be in denial cause his inner core knows it affects him.
ha this dipshit thought we would be well on our way out of the recession ealier this year....we have growth of about .8% right now and 3rd quarter reports coming out soon my guess the economy contracted and we are right back in recession and really the depression
Just finished watching the entire video and now I can legitimately say, PETER IS THE MAN! If this were filmed yesterday I would say, "it sounds right, but lets wait a few months and see." ...but it was recorded in Dec.2010 and it was prophetic --- 120% prophetic. I particularly enjoy how Jeremy Siegel states that within the next 6 months, but definitely by later next year you will see the U.S. on the upswing! So in the next 3 months we'll all be millionaires!!! Awesome!
Siegels arguments around the 50 minute mark that China will keep taking American paper cause Japan took American paper is pathetic!!! Who the hell wants paper? Or digital money? No one wants money for moneys sake they want goods and services. If one country produces nothing and only has a printing press then it contributes nothing from the world and only makes it poorer
The only thing Peter don't seem to get is we don't exchange worthless dollars for goods & products from China. We send them technology, information, services and IP in the form how to make these goods and products.
They love it They want it... (with regard to China importing dollars) that's some sound economic reasoning there NAWT! Just ask the two basic questions of economics 'At whose cost?' and 'For how long?' You'll find the answer is 'the chinese consumer' and 'not very'.
The audio is not that bad. It's fine. If people would just listen to what is being said rather than wasting space here on audio it would be a better comment section.
So according to Jeremy Siegel the Chinese will keep buying us paper because they love it. His entire economic theory hinges on the Chinese "loving" us paper. I wish someone could have forced him to answer what he thought might cause the Chinese to stop loving it.
@simzer yep, sure is. it creates countless 'new jobs' like social apps programmers lol. It's actually no different from the jobs created from the 'innovative' derivatives concocted by financial engineers of the 1990s.
Schiff is coherent, knowledgeable, and positive in his argument, as is usually the vase when you speak the truth. What surprises me is how little understanding professor Siegel has of the problem and his very flimsy argument. I am sure the organizers did their best but really should have got a worthy opponent for Schiff. Although I presume not that many takers. Just give Peter the floor next time. Would be more educational! Well said Peter, wish there were more like you!!!
lol.. the last few minutes of this video is a picture of a man who has come to the startling and horrific realization that his years of work and his illustriousness was based on lies.
What kind of RETARD would post a video with such horrible audio? This persons a fucking FUCK! My 10 yo cousin could've easily done a better fucking job, and at 720p!!!!!!!!!!!!!!!!!!!!!!! FUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUU
Peter clearly won this debate. The whole china "They love it" in regards to debt was the best siegel could come up with. Also, China has indeed shed US debt. (I think it was 1 trillion?) Someone correct me if I am wrong.
whats iteresting is this was held in 2010 and professor siegel was predicting a recovering economy over the next 12 months. Boy was he wrong. I suspect he will be wrong on everything else as well. I really do not understand how mainstream economists and media can ignore peter schiff at this point. he was obviously right about the housing bubble, and he is proving to be right on sovereign debt, as witnessed by whats happening in the eurozone right now.
Peter cuts this guy to pieces. A gold standard would give everyone the confidence to invest and the USA would finally be the great nation we used to be.
When legitimate points no longer applicable refer to personal attacks. How to help win a losing argument 101. Sry mr siegal but you are wrong and lost this debate clearly. China will not lend us money forever that's a foolish federal reserve mindset.
@digypro Holy shit, that's awesome, I somehow started to ignore it after a while and didn't even think it was there anymore LOL. Well, I'm lucky sucks for everyone else.
Peter Schiff is the "Steve Jobs" of the financial sector !! He's smart, intelligent, unguarded and likes to stand up against "the establishment"...he's a rebel....and he kicks ass !!
56:10 exactly!!!!! China can provide and increase its per capita income and PPP drastically if it just sells to itself. It has one of the largest fractional reserves in term of amount of gold to currency ratio but it's buying more now.
Mr. Siegel teaches at perhaps the top 1, two, or three best economic school in the united states, and yet is unable to apply his knowledge to present any decisive argument.
Siegel is fantastic, a genious at making new sounds from "UM" and "AH" Every time he says these two sounds they come out uinique. I would love to remove all the other words in his talk and just hear the UMs and AHs get it on a KEYBOARD .
DAM! Shift lays it all out- the present economic reality. A decent source of economic News.
Peter Schiff..no pen, no paper, no note taking....just commen sense and a lifetime of education to support his clear view of macro economics...calmy and intelligently answering every question....
You cannot shift the manufacturing "cycle" to middle east and (even more hilariously) Africa.
The point where asian /women/ manual manufacturing works so well, is because, culturally, asian /women/ are very precise, and culturally value hard work and dedication Also, Middle east fails because middle easterners would rather die than manufacture for so called "first world" /heathens/, and Africa is opposite divided among themselves and have no culture of union, more likely rooted in tribal warfare
Siegel is like a grump old man who was allowed out of the home for a day...blaha bla blah,,where am I?...Who are you...?....I soiled my pantssss WaaaaaaaaahhhhHH
don't know why Peter didn't bring up the EXTREME of the argument... So what if the US gov. right now printed 100 times as many dollars that already exist? Would china keep buying US bonds? Of course not. It's not going to last forever... china and the rest of the world is going to get sick of cheap US dollars that aren't worth shit.
@socialjazz You can now compare in time who was right and wrong again, since the professor there, promised that Euro would fall to parity with the dollar and that the recession will be coming to an end due to 'productivity', (which in his case seems to be just an abstract idea)
The professor is very nationalistic it seems, talks about all the things USA produced in the past. Yeah, in the past, but not now. His strategy is pyramid based - finding new saps to subsidize US consumers.
@socialjazz because at 34:30, the audience was actually laughing when Peter Schiff said USA could end up like Greece-- oh, how naive we were back in 2010...
@socialjazz Peter explained why on his radio show a few days ago. He said he wanted to post this interview shortly after it was taped, but he was told by the producer or whoever shot the video that the footage was lost or misplaced, can't recall exact words, but something to that effect, and he stated that only recently this footage was found and he posted it better late than never because he felt it's a good debate which it IS! It's actually prophetic!
@flahr1 Who are his friends ? 30 mins a day for the basics - I know that's crap. This is the kind of economist that advises government and yet when I get told by people (for being Mr doom & gloom) how can I know what I'm talking about when all these top brilliant minds at the top disagree with me, is it any wonder I've reached the point when I just shrug my shoulders and pipe down.
@Avidcomp you speak the truth...yep these top "economists" truly are idiots. At least Peter uses common sense.
Not much else the average guy can do. Just ride it out and don't have paper money. One day soon Americans and just about every other developed country will be out for political blood.
That moderator didn't do a very good job of hiding his bias with all his sarcastic remarks to Peter.
TheScyy 1 month ago
It's a shame the audio is garbage on this... Otherwise, +1 Peter
SteelCityBoilermaker 5 months ago
DOSENT ANYONE ELSE HEAR THAT SQUEAKY NOISE? IT FEELS LIKE IM TAKING CRAZY PILLS
Orbknow 5 months ago 3
This video was made last year. Jeremy Siegel predicted we would be having a robust recovery by now. Peter Schiff predicted we're in the early stages of a depression interrupted by stimulus. Looks like Peter was right again.
cr113 5 months ago
The longer I get into this video, the more it looks like an epsiode of "Intervention" for Jeremy. Schiff is saying, "we have a problem Jeremy...We have 5 DUI's and we're drinking 5 bottles a day, it's time to sober up." Jeremy is saying "we don't have a problem! We don't have a goddamn problem. We're fine. I know the judge, he'll let the DUIs slide, don't be such a buzzkill Pete."
billcarnes87 5 months ago
Wow...Peter Schiff STOMPED this guy. It's almost kind of sad to watch Segal slowly realize how right Schiff actually is as they sit at the table together.
billcarnes87 5 months ago
the dude has to remember that Japan has been holding us up because of our victory of WW2 but as the older generation dies off that sentiment will go with them. We don't have that sentiment with China they fought on our side.
pdxeddie1111 5 months ago
@pdxeddie1111 what are you talking about, chinese gov and us gov deep down distrust each other way more than the japanese and the u.s. ever did. They solved that problem with a war, now they are friends. I dont know f we can solve this china us problem/relationship with a war, i think it's alot more complicated than that.
MrBigEnchilada 5 months ago
-Goods? I LOVE IT!
-Well who's going to produce it?
-The Chinese! The Indians! THEY LOVE IT!
guamyl 5 months ago 2
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Stevie68000 5 months ago
Anybody seen The Princess Bride and know what I am talking about? I was waiting for Peter to pull out the chalices and challenge Jermey to a final battle of wits. Anyways...like the movie, Peter had been preparing for this a long time and it ended pretty much the same here.
melodicdreamer72 5 months ago
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Stevie68000 5 months ago
Wharton must be a f***ed up place!
rizwan1983 5 months ago
@rizwan1983 i doubt it is, i just think there are people there who are incapable of seeing what the real world is like.
MrBigEnchilada 5 months ago
Mr. Siegel is dilustional if he thinks the Chinese are going to continue to borrow from us. The Chinese maybe crazy, especially when it comes to their human rights laws, but they certainly are not stupid. Buy Gold and silver people and if you can build a green house to grow your own food, cuz the $h!t is gonna hit the fan. And if it doesn't you'll have investments for the future, so it's a win-win to prepare yourself for economic collapse.
toria555 5 months ago
i am seeing this far too often
1) a man without diploma earning 10 times the man with mba degree
2) schiff whooping economic professor ass
any worthy knowledge comes from field experience not library
kentkaizen 5 months ago
One final point. Exports as a matter of principle are not necessary for a growing economy. The factories in China that produce our consumption goods are owned by American companies! The profit they make in the sell of all those goods is their own--not the Chinese. It doesn't matter if that US company has its factory in China or the US. The geographical location has no relevance.
regelemihai 5 months ago
@regelemihai
not all of them..When the chinese goverment depags from the dollar, it will be irrelevant about who owns the Chinese companies, US or Chinese eneterparnuers.
xMaXiMuSx 5 months ago
@regelemihai you are correct, the chinese barely make a considerable amount of money from what they produce when it comes to foreign direct investments aka corporations that operate there, but the key is that the company CREATE JOBS there.
This is also why i have always thought that china should just produce for its own citizens.
MrBigEnchilada 5 months ago
At around 55:54 he conflates the problem. Yes, China will call it "game over" with the US when it realizes that the dollar holdings it has aren't gonna be worth squat--but that has nothing to do with our export rate; it has everything to do with our monetary policy that devalues the dollar (as I'm sure he'll agree with me on that). He's just jumping from one conclusion to the other methinks.
regelemihai 5 months ago
Two point I keep missing about Schiff: 1. If China's economy is a model we should be following(as Schiff says) of a weak currency and high manufacturing, then why is he railing against a weak dollar? Would a weak dollar make us an export economy as he wishes?
2. If the Chinese would let their currency rise, the cost of labor would also rise thereby hurting their productive capacity. It wouldn't really help them.
regelemihai 5 months ago
@regelemihai 1. we shouldnt follow china's economy. We just need to stop destroying our own. A weak dollar means high gold prices cos that means the dollar is worth lesser. Schiff has always been an advocate for owning gold.
2. YES, ceteris paribus (with other things equal), a weaker dollar or weaker yuan obvious lead to more exports. But i dont think it would be good for the economy as a whole.
someone else should explain this, please!!!
MrBigEnchilada 5 months ago
@MrBigEnchilada
Lol, don't be so desperate; I think you made a good point yourself. I still see a lot of holes in all of these arguments, but I'm usre the more I read the likelier it is that I'll fill them up.
regelemihai 5 months ago
love intellectual, knowledgeable, highly energetic debates such as this.with two people who are highly skilled in what they do and what they know. it is the best way to get two sides of a situation and decide who has the better advantage based on facts and statistics (Peter took it of course). This Siegel character didnt do such a great job as a contender (his arguments and "facts" were severely flimsy).great video, hope to see more
ryanbrooks11388 5 months ago
wanted to watch this really bad but that electronic static whistle thing is like crushed glass in my brain. I'll guess what happened tho:
Peter Schiff DESTROYED the other guy, and rode out on a golden horse?
BigDaddyDJD 5 months ago
peter, you are a bit too agresive in the debate. that grandpa loses with you on every subject, but its no need give him on his knees. let him finish his part and dont interupt him, becouse than he gets this undeserved sympathy from listeners.
dafyduck79 5 months ago
@dafyduck79 dude, watch it again they were so rude to peter from the get go! They got bitch slapped and deserved every second...
Tomta20012 5 months ago
just re-watched it a second time, how could an old man who is an economist who's job it is to WATCH whats going on! NOT see the his country's slowing go into poverty is murder!
Tomta20012 5 months ago
those disgusting fools probably don't dont deserve peters warnings! just like the stupid real estate agents
Tomta20012 5 months ago
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qwerty94376 5 months ago
Jeremy's sidekick is an idiot
DaGuyWitTarAnFeathrs 5 months ago
sounds like someone is walking around in front of the mike with a pocket full of change
dirksilver 5 months ago
I just wanted to slam Jeremy when he said that I have to work about 15 to 30 min a day for basic survival. I make about 2k a month, pay 500 for housing, 400 for groceries, 200 on gas, and that's leaving unpredictable incidence.
RicoBoudreau 5 months ago
In the new economy, production doesn't matter! Siegel is partying like it's 1999!
vector65535 5 months ago
p schiff ate that nigga
kaprah01 5 months ago
its notable that toward the end when seigal realises his arguments r being shot down at every turn he becomes very pouty and childish. his 40 yrs of academic brainwashing is being destroyed in 1 hr and he doesnt know how to react except to say that is what they said about japan. absolutley no response to the fact that we dont save, we borrow too much to spend too much. and that the fed has destroyed the dollar and made things worse.
bartonsky 5 months ago
it sppears seigal is adocating some form of perpetual surfdom for the peole of china. he wants them to coninue to work for $2 per hr so they can send products tonthe usa. and he thinks theynwill keep doing itbfor 50 yrs. this is essentiallynhisnonly leg to stand on, they have done it and they will continue to do it. amazing these keynsian people still have credibility.
bartonsky 5 months ago
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We import our seafood because watermen have been regulated out of business.
lk804 5 months ago
We import our seafood because watermen have been regulated out of business.
lk804 5 months ago
Siegel lost at the end caused he used the word synergy. heh. Great job Peter! There was some really funny back and forth.
nogl0001 5 months ago
The Wharton idiot says "who's problem is that" (51:03). So he knows we are in a BS economic system that can only ultimately collapse and he's okay with it. He sees it as unlikely to happen in his lifetime so screw it. He is okay with not being in a position to actually produce anything. He is a shaman, not an economist...and he must not care about the children of this country.
jawneblaize 5 months ago
Schiff ate this guy's lunch.
SlothGamer60 5 months ago
amazing...the ignorance coming out of jeromy's mouth. give me a job as an economy professor...i can talk out my ass and keep citing one example where a country fucked up and make the dumbass assumption that nobody learned from that HUGE mistake.
Spydiggity 5 months ago
Someone needs to show this video to the Chinese, so we can get this collapse going already. I'm tired of waiting.
skypilot805 5 months ago 11
@skypilot805 LOLOLOL
winnah2314 5 months ago
@skypilot805 im chinese
MrBigEnchilada 5 months ago
@MrBigEnchilada Well tell your country to stop buying American dollars. It will help everyone.
skypilot805 5 months ago
@MultiMmmmms LOL
Unkn0wnGuy 5 months ago
I SAY PETER WON THIS DEAL AND IS RIGHT........I WONDER HOW MUCH BOOGER SUGAR THAT HOST SNORTED BEFORE THE SHOW
1IIIIIIIIII1 5 months ago
54:23 I can't believe Peter even has to explain that. This is common sense. Simple stuff 5 minutes can teach you. Apparently 40 years of academic experience didn't make that clear. BTW I think think this is the best argument Peter has made for the China de-peg
SirJamestheIII 5 months ago 3
It seems like Siegel was completely unable to explain why the Chinese would keep sending goods for paper "forever" other than that they presently do it, and have been doing it for a while. Blind hope much?
IvanAndreevich 5 months ago 4
Professor Siegel just got taken to school! Austrian Economics ONCE AGAIN beats the keynesian "smoke & mirrors".
Unkn0wnGuy 5 months ago
I love how the academic's main argument is that basically because China and Japan have been buying U.S. debt they'll always do it forever.
korzym 5 months ago
You know, what pappy Siegel is saying at least does point to a genuinely fascinating fact. "They love dollars." This is not enough to serve as an argument that US can loan indefinitely... But so far it's true, isn't it? They really STILL are accepting dollars. Why on earth do they keep doing that? I just don't understand it!
VantekHG 5 months ago
Great debate, watched entire thing. Schiff really is a heavyweight!
caversmill 5 months ago
42:30
"... once the recession ends, which I fully expect to see by the middle of next year ..."
Yeah, went a bit wrong there, paps
VantekHG 5 months ago
OMG this squeeky noise in the audio track is making this impossible to listen to.
eagleeye1975 5 months ago
This man ought to try leaving his ivory tower some time. We are not living in the same world that existed 5 years ago. Already we are seeing the Wall Street criminals stealing from each other. In the end it will be the best thief that winds up owning everything.
aubreyfarmer 5 months ago
Thomas Jefferson was concise in his early warning to the American nation, "If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered." The Zionist new world order might be delayed but it will not be defeated.
aubreyfarmer 5 months ago 2
why they picking on that poor old man?? really entertaining to see so rational responses by Peter to out of context data provided as proof. Good educational material for me.
NinetySixLive 5 months ago
Peter, would love to hear you talk more about Ron Paul presidential run. It looks like he has got a decent shot this time round. Are you involved with the revolution pac?
opetr198336 5 months ago
Its interesting that this debate is fundamentally about what decisions a person will make. Which is the fundamental difference between keynesianism and austrianism
TheSophist2007 5 months ago
This sounds like it was ripped at 96kbps
dieyoung 5 months ago
Comment removed
MachTwo1 5 months ago
why did you link to the other site? The video there is still just this youtube one, which is impossible to listen to. I'd love to hear it if you can upload a version with fixed sound
a4finger 5 months ago
Google building 7
buffydog247 5 months ago
15-30 minutes a day to survive? I work 40 hours a week, I guess I'm overdosing on survival.
WealthAddicts 5 months ago
socialist keynesian scum
go back to the empty dirt fields of the USSR where you all belong
TheBlitz1 5 months ago 15
One thing that they didn't address was the fact that the stock market and the economy don't necessarily move in tandem, Germany did very well during the 8o's their stock-market didn't go anywhere. Japan's economy will turn to dust over the next few years but as their citizens flee from bonds the stock market is poised for a rebound.
murrchops 5 months ago
@murrchops that was the 80's every market now trades in almost absolute harmony because they're up to there neck in worthless dollars. The only reason the stock market would go up today is because of inflation and if that occurs you will make a better yield on silver or gold.
WealthAddicts 5 months ago
@WealthAddicts Rubbish, most of the Japanese don't hold any stocks these days, they are at the bottom of their deflationary cycle while the US, UK and Europe are just entering theirs, The Japanese stockmarket is at multi-decade lows especially when you factor in the strength of the yen. You are right when you say the market will only go up because of inflation because that is just about to be introduced to the Japanese. You're disagreeing and agreeing with me at the same time.
murrchops 5 months ago
@WealthAddicts You will probably make heaps of money in gold and silver and I think the Japanese will pour into this sector once they realise the yen is inflating, but you would be advised not to hold all your money in gold as you need income to live off while you wait for good selling levels. For serious wealth accumulation well after a change of monetary system stocks are a great place to be if you buy at extremely depressed levels.
murrchops 5 months ago
This was recorded in 2010 : (
It is still valuable info though.
PaulbylPaulbyl 5 months ago
People are going to look at this debate the same way they look at peters speech at the Mortage Bankers conference back in 2006.
mbarkhau 5 months ago 4
After hearing Siegals opening statements I have to say the comments here are way too hard on him. I agreed with everything he said. I do think he is missing part of the puzzle by not looking at malinvestment, debt, and the monetary picture; but hes clearly not an idiot.
His point around 17:40 about capital flows is instructive, though I think he draws some wrong conclusions from it.
Equity213 5 months ago
Two competent arguments are presented here. I seriously doubt the trade relationship with China lasts 50 years or until the next great global cycle starts and I seriously doubt we're going off a cliff next year. If we get a handle on our fiscal house, raise interest rates, lower wages, play out a necessary period of negative growth, strengthen the dollar, and increase goods manufacturing capacity, and we'll slide through okay and our relationship can continue for another 10 years (compromise)
heymisterderp 5 months ago
Siegal come accross as an incoherent drunk, or grumpy senile old man, can barely get words out of his mouth, let alone make cogent arguments. Reminds me of many of my college professors. its not the 1980's anymore Jeremy. Schiff was excellent as always. The fact that Jeremy Siegal is an econ professor at a top tier ivy league school is probably the most bearish sign i've ever seen for the USSA economy.
winterrosscharlton 5 months ago 4
I like how the Professor stops being polite at around 49 minutes when his assumptions about the world really start to get challenged.
EnnesX 5 months ago
my laptop filters the sound so it sound clear here
1989kirby 5 months ago
Nice forum! Let's have many more of these! Open dialogue that makes sense, this is what should be happening in our government! Government: fail.
dgmoocher 5 months ago
PWND = Peter Wins 'Nother Debate
offdaheez 5 months ago
The link to a "better" video is just a link to the same video, WTF is going on here? Schiff needs to hire some new audio/video guys, his stuff is usually awfully produced, which sucks because the content is s good
digypro 5 months ago
They love it! They love it!
Leofus1986 5 months ago
LoL bear killed the bull in this debate.
life0is0just0a0ride 5 months ago
Siegal just doesnt understand everything is a bubble. An the america dream bubble is about to bust and its goimg to be ugly
life0is0just0a0ride 5 months ago
Peter doesnt*
life0is0just0a0ride 5 months ago
See the difference in reactions when the other is speaking near the end. Peter does care what siegel is saying cause it doesnt affect him. But siegal has to shake his head and be in denial cause his inner core knows it affects him.
life0is0just0a0ride 5 months ago
ha this dipshit thought we would be well on our way out of the recession ealier this year....we have growth of about .8% right now and 3rd quarter reports coming out soon my guess the economy contracted and we are right back in recession and really the depression
rpo11234 5 months ago
Just finished watching the entire video and now I can legitimately say, PETER IS THE MAN! If this were filmed yesterday I would say, "it sounds right, but lets wait a few months and see." ...but it was recorded in Dec.2010 and it was prophetic --- 120% prophetic. I particularly enjoy how Jeremy Siegel states that within the next 6 months, but definitely by later next year you will see the U.S. on the upswing! So in the next 3 months we'll all be millionaires!!! Awesome!
OpieJohansen 5 months ago
Good job Peter. I hate Keynesians .
Tonymontanaooo 5 months ago
Siegels arguments around the 50 minute mark that China will keep taking American paper cause Japan took American paper is pathetic!!! Who the hell wants paper? Or digital money? No one wants money for moneys sake they want goods and services. If one country produces nothing and only has a printing press then it contributes nothing from the world and only makes it poorer
NicosMind 5 months ago
The description has a link to a video with better audio(i actually dont mind this audio that badly. Probably my speakers)
NicosMind 5 months ago
The only thing Peter don't seem to get is we don't exchange worthless dollars for goods & products from China. We send them technology, information, services and IP in the form how to make these goods and products.
Nuby29 5 months ago
They love it They want it... (with regard to China importing dollars) that's some sound economic reasoning there NAWT! Just ask the two basic questions of economics 'At whose cost?' and 'For how long?' You'll find the answer is 'the chinese consumer' and 'not very'.
timmit59 5 months ago
The audio is not that bad. It's fine. If people would just listen to what is being said rather than wasting space here on audio it would be a better comment section.
dgmoocher 5 months ago
Peter stop shaking your coin bags please
SchiffRadiodotcom 5 months ago
i would never send my kids to study economics in the USA unless he learns from Peter Schiff.
richardminhle 5 months ago
Peter, you killed it, brilliant.
visulube 5 months ago
So according to Jeremy Siegel the Chinese will keep buying us paper because they love it. His entire economic theory hinges on the Chinese "loving" us paper. I wish someone could have forced him to answer what he thought might cause the Chinese to stop loving it.
sectorz69 5 months ago
One presenter, Peter, sees the forest.; the other, Siegel sees only leaves on the trees.
sklesher 5 months ago
The sound is so bad. I cannot concentrate on the speeches. Can you clean the sound and repost it on youtube?
MsH1h1h1h1 5 months ago 3
So Facebook is an "Innovation" now ?
simzer 5 months ago
@simzer yep, sure is. it creates countless 'new jobs' like social apps programmers lol. It's actually no different from the jobs created from the 'innovative' derivatives concocted by financial engineers of the 1990s.
Sempertacsil 5 months ago
@Sempertacsil Touche :)
simzer 5 months ago
Schiff is coherent, knowledgeable, and positive in his argument, as is usually the vase when you speak the truth. What surprises me is how little understanding professor Siegel has of the problem and his very flimsy argument. I am sure the organizers did their best but really should have got a worthy opponent for Schiff. Although I presume not that many takers. Just give Peter the floor next time. Would be more educational! Well said Peter, wish there were more like you!!!
trustgoldandsilver 5 months ago 14
The name Dr. Doom is alone to make people listen, then they just need to hear peter and then the realize he's telling the truth
101criminal 5 months ago
lol.. the last few minutes of this video is a picture of a man who has come to the startling and horrific realization that his years of work and his illustriousness was based on lies.
timi13 5 months ago 10
@timi13 well said friend. I noticed that as well :)
Unkn0wnGuy 5 months ago
@timi13 my thoughts too, he was completely rambling at the end there
Tomta20012 5 months ago
Schiff is a gold Bull
takerdust 5 months ago
What kind of RETARD would post a video with such horrible audio? This persons a fucking FUCK! My 10 yo cousin could've easily done a better fucking job, and at 720p!!!!!!!!!!!!!!!!!!!!!!! FUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUU
kilomph1 5 months ago
Professor Siegel. It is not the 1980s anymore.
billp4 5 months ago 3
Peter clearly won this debate. The whole china "They love it" in regards to debt was the best siegel could come up with. Also, China has indeed shed US debt. (I think it was 1 trillion?) Someone correct me if I am wrong.
7Losses 5 months ago 2
If this didn't hurt my ears I would love to listen to what you said here.
AurynThePaladin 5 months ago 3
@AurynThePaladin Agreed. The hissing made me turn it off.
TheSchaefReport 5 months ago
Fair enough to encode at a low resolution and bitrate for the video but please don't do the same for the audio ...
ClapsyPlapsy 5 months ago
whats iteresting is this was held in 2010 and professor siegel was predicting a recovering economy over the next 12 months. Boy was he wrong. I suspect he will be wrong on everything else as well. I really do not understand how mainstream economists and media can ignore peter schiff at this point. he was obviously right about the housing bubble, and he is proving to be right on sovereign debt, as witnessed by whats happening in the eurozone right now.
amishbpatelify 5 months ago
Siegel looks like he's about to cry Peter owns him so hard. Poor guy.
weablez 5 months ago
Peter cuts this guy to pieces. A gold standard would give everyone the confidence to invest and the USA would finally be the great nation we used to be.
MrGoldenanswer 5 months ago
When legitimate points no longer applicable refer to personal attacks. How to help win a losing argument 101. Sry mr siegal but you are wrong and lost this debate clearly. China will not lend us money forever that's a foolish federal reserve mindset.
NosoCOMINSOON 5 months ago
oh god the audio on this is TERRIBLE. Crickets chirping in my ears non stop.
FartyFace 5 months ago
This has been flagged as spam show
For some reason, the ones with the most formal education somehow always ends up to be the most ignorant, astounding.
ltse 5 months ago
Comment removed
ltse 5 months ago
Jeremy has spoken... yes he did.
betodesign101 5 months ago
Damn man.....Peter kills Jeremy siegel !!
alimutahir1 5 months ago
Would love to listen to this but it sounds like a dozen crickets are stuck in my computer. Audio producer....fail
totalfloat 5 months ago 34
@totalfloat It's annoying at the beginning, but it goes away after the first bit.
RKAddict101 5 months ago
@RKAddict101 What are you talking about, its in the whole video and it is unbearable
digypro 5 months ago
@digypro Holy shit, that's awesome, I somehow started to ignore it after a while and didn't even think it was there anymore LOL. Well, I'm lucky sucks for everyone else.
RKAddict101 5 months ago
@totalfloat You're right, you know what that is? it's the audio being to sensitive and causing some sorta echo. It's to high lol
dreamslides 5 months ago
@totalfloat
I fixed audio and uploaded a version with audio only
after the equals symbol paste LqZ4hEJXHqg
ryanscottlove 5 months ago
@totalfloat Could hardly watch until I used an audio editor to cut the frequencies above 8K. Sounds great now.
ryanscottlove 5 months ago
Peter Schiff is the "Steve Jobs" of the financial sector !! He's smart, intelligent, unguarded and likes to stand up against "the establishment"...he's a rebel....and he kicks ass !!
alimutahir1 5 months ago
This has been flagged as spam show
1:05:01 I couldn't stop laughing!
scienterprize 5 months ago 2
Comment removed
scienterprize 5 months ago
-Who's gonna make them?
-The Chinees! They love it!
: )
IgorKudinov 5 months ago
58:30 hilarious debate! What stuff? shut the 20% Idiotic Jeremy
scienterprize 5 months ago
Hahahaha - he thinks the recession will end by next year !!!! We're in 2011 Jeremy ??? It ain't ended u were clearly wrong.... ouch
neb967 5 months ago
56:10 exactly!!!!! China can provide and increase its per capita income and PPP drastically if it just sells to itself. It has one of the largest fractional reserves in term of amount of gold to currency ratio but it's buying more now.
MrBigEnchilada 5 months ago
Mr. Siegel teaches at perhaps the top 1, two, or three best economic school in the united states, and yet is unable to apply his knowledge to present any decisive argument.
MrBigEnchilada 5 months ago 36
i have seen no one thus far that could debate Schiff on economics...
mtklaric 5 months ago
Siegel is fantastic, a genious at making new sounds from "UM" and "AH" Every time he says these two sounds they come out uinique. I would love to remove all the other words in his talk and just hear the UMs and AHs get it on a KEYBOARD .
DAM! Shift lays it all out- the present economic reality. A decent source of economic News.
captkirkconnell 5 months ago 2
What Peter is saying make complete sense I think this other guy is in denial. I live in the USSA and fear the future
tophat27 5 months ago
Peter Schiff..no pen, no paper, no note taking....just commen sense and a lifetime of education to support his clear view of macro economics...calmy and intelligently answering every question....
NormanMoran 5 months ago
You cannot shift the manufacturing "cycle" to middle east and (even more hilariously) Africa.
The point where asian /women/ manual manufacturing works so well, is because, culturally, asian /women/ are very precise, and culturally value hard work and dedication Also, Middle east fails because middle easterners would rather die than manufacture for so called "first world" /heathens/, and Africa is opposite divided among themselves and have no culture of union, more likely rooted in tribal warfare
nu1x0 5 months ago
This has been flagged as spam show
Financial Enemy of Greece, Ireland, Italy, Spain, Portugal, & America - Jew
1. Goldman Sachs CEO, Lyold Blankfein - Jew
2. IMF Deputy CEO, John Lisky - Jew
3. Ex IMF CEO, Dominic Strauss - Jew
4. World Bank CEO, Robert Zoellick - Jew
5. Ex World Bank CEO, James Woolfesen -Jew
6. Fed Chairman, Ben Bernanke -Jew
7. Ex Fed Chairman, Alan Greenspan -Jew
8. Obama Treasury Secretary, Timothy Geithner -Jew
9. George Bush Treasury Secretary, Hank Paulson -Jew
Stevie68000 5 months ago
The old guy looks angry toward the middle/end :( repeats himself... i think he has dementia
dfgiuy22 5 months ago
Siegel is like a grump old man who was allowed out of the home for a day...blaha bla blah,,where am I?...Who are you...?....I soiled my pantssss WaaaaaaaaahhhhHH
mrdoonbeg 5 months ago 3
omg annoying french person alert at the end...
ezra106 5 months ago 2
beenwaiting for a long speech/debate video from peter schiff, brilliant
GSDebunked 5 months ago
bad audio though
silverbullx 5 months ago
don't know why Peter didn't bring up the EXTREME of the argument... So what if the US gov. right now printed 100 times as many dollars that already exist? Would china keep buying US bonds? Of course not. It's not going to last forever... china and the rest of the world is going to get sick of cheap US dollars that aren't worth shit.
freezazoid 5 months ago
is someone playing a tamborine?
mingin001 5 months ago
Wow there's some good stuff in here.
svenp 5 months ago
why bother to post a 2010 conference only in Q3 2011?
socialjazz 5 months ago
@socialjazz You can now compare in time who was right and wrong again, since the professor there, promised that Euro would fall to parity with the dollar and that the recession will be coming to an end due to 'productivity', (which in his case seems to be just an abstract idea)
The professor is very nationalistic it seems, talks about all the things USA produced in the past. Yeah, in the past, but not now. His strategy is pyramid based - finding new saps to subsidize US consumers.
romanmir01 5 months ago
@socialjazz because at 34:30, the audience was actually laughing when Peter Schiff said USA could end up like Greece-- oh, how naive we were back in 2010...
ApocalypticAang 5 months ago
@socialjazz Peter explained why on his radio show a few days ago. He said he wanted to post this interview shortly after it was taped, but he was told by the producer or whoever shot the video that the footage was lost or misplaced, can't recall exact words, but something to that effect, and he stated that only recently this footage was found and he posted it better late than never because he felt it's a good debate which it IS! It's actually prophetic!
MachTwo1 5 months ago
Old incoherent senile buzzard 0.
Peter Schiff 10.
ibislee 5 months ago 2
Jeremy Siegel at 0:40 does nail about Euro. it did go from 140s to 130s in 2 weeks. But down to a 100? Unbelievable.
kenji4861 5 months ago
1:09:00 ...and that's the ballgame folks...
mu5icaddict2 5 months ago
Glad I have a graphic equalizer with this audio... CHIRP CHIRP CHIRP
+1 for Schiff.
SteelCityBoilermaker 5 months ago
"You're laughing but this is what we're staring at"
geewhzz 5 months ago
Peter Wins.
USBankruptcy 5 months ago
He says at around 1:06:01 I have to work only 30 minutes a day for basic needs.... BULLSHIT
flahr1 5 months ago
@flahr1 Who are his friends ? 30 mins a day for the basics - I know that's crap. This is the kind of economist that advises government and yet when I get told by people (for being Mr doom & gloom) how can I know what I'm talking about when all these top brilliant minds at the top disagree with me, is it any wonder I've reached the point when I just shrug my shoulders and pipe down.
Avidcomp 5 months ago
@Avidcomp you speak the truth...yep these top "economists" truly are idiots. At least Peter uses common sense.
Not much else the average guy can do. Just ride it out and don't have paper money. One day soon Americans and just about every other developed country will be out for political blood.
flahr1 5