February 2006 Peter Schiff U.S. Bubble Economy Part 1 of 5

[psychientology]

Peter's known for all this time.

[MosIonTaranul]

"Sheeple"...that made me laugh indeed!

Greetings!

[nicoya31]

The fact that this video and others of Peter Schiff have no more than 18,000 views tells you that the sheeple are still far away from understanding what hit them, so a fix is not around the corner.

[AFRIKTODAY]

So true! Shame of us, a so called advanced nation of ignorant cows who believes that chewing the fruits of other people had work is normal and a form of wealth and success.

[JANOSNFHH]

@AFRIKTODAY so true

[sky21448]

just follow the simple stuff. Supply and demand. Whatever drive the demand to increase is the main thing that drove the housing price upward.

[atl2maryland]

no.. if it is that simple then it should be that simple to fix

[WelfareRobot]

This is a really excellent summary by Peter and a great antidote to the rose-tinted perspectives you hear in economics classes and the mainstream media. Spread the word, show it to your friends and family!

[ourearthhome]

A little appreciated aspect of the bubble economy is the fact that the land value has been bid up speculatively. It is land value that is the basis of the housing bubble because houses do not go up in value especially when their supply can be increased. The supply of land is fixed and its cost goes up. The monetary system expanded the money supply in large part to provide the money for this kind of asset appreciation and all it did was make us pay more for the same thing. Land is not capital.

[klined]

land is capital if you build or plant anything on it

[ourearthhome]

Land is never capital no matter what goes on under land or on top of it. What you do as landowner is a capital improvement that everywhere is separately recognized and evaluated. The idea that land is capital came as a desperate and unfortunately successful attempt to muddy the distinction between land and capital so that land speculators could continue their theft of community created land values under the guise of red blodded capitalist free marketers. The current disaster followed.

[jbryant13]

Google "georgism+land" to see an alternative to taxing land (and improvement) values

[FreshD2008]

Can't wait for the collapse. Gonna be so fucking exciting!

[jbryant13]

if riots are your idea of "exciting". Don't buy gold - buy bullets

[He101A]

If you buy gold, you can avoid staying in a unstable environment. If you want to stay where you live, go fight for it, like the Korean community during the L.A. riots.

[buckle99]

How 'bout gold bullets?

[pjarosz]

How come this video isn't working?

[supergopi]

wow ! am in India !

Watch out world !

[dogodwn]

I will give solution for the U.S

->invest on agriculture, forget IT and other intelligent industries. It's not going to work. China, Korea, Japan, India will soon take every modern industries. But as more the food prize goes up, the US will have more power.

[kosai19]

Read Ron Paul's book "The Case for Gold" (printed in 1982). He spoke of the principles that would lead to this collapse. The Federal Reserve's interest rate manipulation would do nothing more than devalue the currency. These rate cycles of cuts and rises actually CAUSES the bubbles (tech, housing, market) while at the same time driving up inflation. This is reason for the Ron Paul fanaticism. The youth realize his message and see their future being buried in the debt of their parents.

[kosai19]

The U.S. is on the verge of collapse. Categorize me as another nut for saying that at your peril. Do your OWN research and figure this out. Look to the internet & international news NOT the mainstream media. Soon you will be flooded with a sea of data that shows the magnitude of this problem, as I was. The once labeled "conspiracy theorists" knew this for 30 years. Once we separated the U.S. dollar from the gold standard this paved the way for this to happen.

[vendor72]

I think I understand that your country is in serious trouble. I'm wondering why so few Americans are concerned about this? Your strength is based on debt.

[90462]

I don't think that many people realize it. Or if they do, they're too distracted by their daily life routine, or they are just too drowned in debt and other fiscal problems to properly denominate their finances.

[brian12934]

Everyone is too busy going to the fucking mall.

[Sentinel4truth]

Not only has our economy gone from manufacturing based to service based, but our public has been systematically dumbed down by a ruined public school system and mindless fluff entertainment. Americans don't know anything about anything these days except American Idol and the Simpsons. There is little future left for this once great nation.

[caligari1212]

We in the UK are in a similar position.

In fact it could even be worse over here.

[vendor72]

your right. I invest more in the US markets so my focus is more on their problems. I have friends who have become property developers in the last few years. It seems like everyone is. After seeing the downturn in the US it has become more real to me that it will happen here as large loans and morgages are harder to get. Prices will fall back but will they crash?????

[HollandParker]

Discuss Schiff's ideas from this video, and consider: Where to live in a Depression? ... Put this in your browser: GlobalEdgeInvestors dotcom, and look for thread #2837

[visionvictory]

Wow, Peter Schiff GETS IT. The U.S. is heading into the most severe depression the world has ever seen. Imagine a society dependant on technology heading into a 20th century depression with 40% unemployment, hyper-inflation, food shortages, riots that dwarf LA 1992 and Katrina 2005. In fact take Katrina and times it by every major city in the United States. If you want to survive buy, gold, guns, and lots of food.

[rubenximenes]

Try to explain this to those brilliant minds in FBN eheheh. I don't understand how Schiff stand those idiots...

[Kittenkattan]

Me either. I don't know why he doesn't get up and bitch slap these idiots. Especially that long haired asshole from Remax. That moron should have lost his shirt on the housing market a year ago. No one will learn until there are bread lines again. Then, it will be way too late to do anything.

[88skisupreme]

That guy buys houses in Texas, the bubble hasn't burst there yet. That guy is very annoying, he talks way too fast.

[KingDrudge]

Schiff and Rogers are on record saying that if your are going to live in America during this recession, its better to live in commodity producing states like:

OIL & GAS...TX, CO, OK, KS

AGRICULTURE...IA, KS, NE

With that said, Schiff should be Fed Chairman cause that assclown Bernanke is gonna put all of us on breadlines.

With all of his arguements with Mike Norman and Charles Payne, I'm surprised Schiff still has the temperment to appear on FOX.

[sergey444]

those a holes still arent banktrupt because they're not putting their money where their mouths are, they're listening to Schiff(...all hail the great...) and secretly investing overseas, but still telling ppl financials and housing will rebound.