Peter Schiff Testifies Before Congressional Jobs Committee

[JANOSNFHH]

unbelievable peter is arguing cristal clear and the woman is talking about hamburger lol

[skeletorva]

There's a funny inflation story that economists tell about Germany around the turn of the 20th century. A man goes to the store to buy a hammer. Since the Deutschmark has so little value, he has to bring a wheel barrel full of cash, just to afford the hammer. The wheel barrel is too big for the storefront, so he leaves it outside for a moment. He picks out his hammer and goes to get his cash. Unfortunately, he finds that his wheel barrel has been stolen. Fortunately, they left the cash.

[skeletorva]

The Fed will soon have no choice but to do one of two things, but of which will mean the collapse of the dollar.

1. Raise the interest rates to re-invite capital to pay for all the government's spending.

2. Start the printing presses to reduce the value of the current debt, causing hyper-inflation.

[parkerjhansen1]

I think that the government left out one part that can create more jobs. They can pay people to destroy the very infrastructure that they are going to repair anyway. Imagine employing the same people to go out with pickaxes and hammers and destroying the roads...only to rebuild them again. It's a genius idea if you ask me.

[skeletorva]

@parkerjhansen1 are you being serious? Just in case you are, I'll point out that spending money and gaining nothing is not how wealth is created.

[parkerjhansen1]

@parkerjhansen1 im being totally sarcastic...It's like paying somebody to dig ditches and paying another person to fill them in again with our tax dollars...

[JANOSNFHH]

so good to see peter there educating them...though i dont see that they got it! eventually they will but it might will b too late...

peter very good stuff...there is nobody out there with a comparable skill in explaining,

he is the only guy who has senseable arguments, debating partners lacking of real understanding of prevailing probs of the us economy.

cheers from hamburg

[crocofantul11]

I think Peter is boilig when he hears this girl mambling...

[johammbass]

There is this thing called the Keynesian multiplier that can be availed through government spending. The question is - what about the Keynesian divider once the government has to take money via taxes to pay back the debt? How many jobs does that kill? Keynesians must be retarded