We have a puppet president just like the countries that we helped to create puppet leaders now we have finally given ourselves the same gift. Long live the corporations of America! Oh sorry, I forget, they are already immortal.
Thank god I served in the Navy so I don't even have to pay for grad school. But still mad I am 28 have been out of the navy for 5 years and now going for my MA degree why on earth would one need all of these degrees? I haven't learned anything useful in college except how clueless most people in college are. I go to college with a bunch of intellectual wannabees and this is how to fit in: Glasses, tight pants, long messy hair, no shave and a worn out tee shirt with old school Reeboks.
They will never let someone with a brain run for President, these guys are all puppets and "selected". Yes you vote for them but your choice was preselected by someone else.
@Gabbo2010 How correct you are! I hate that fact! I hate it that the public are so blind to the fact that these people running for president are all in bed with large banks, corporations and so forth. Those like JFK who actually support the American people get assasinated. I hate to admit it but this country is doomed because of the greed of a few! The consitution of the United States is nothing more than toilet paper to these ghoons who have robbed the soul of America! I pray for the US!!
I agree with what Sciff has said. I don't believe that it's the case that Obama has been misguided and lacks understanding about the true ecomic issues. Obama knows exactly what he is doing and what he was hired to do--to serve the interests of corporations and not the citizens. The government is fascist because the merger of state powers with corporate powers is fascism. It matters little whoever one elects for president because they are owned. There is a shadow government, an elite.
You do know that America is past the point of peaceful change, don't you? Nothing short of a bloody, violent revolution is the only solution to America's problems. State secession and organized terrorism directed toward politicians being parts of the equation. I dare anyone to prove me wrong.
Peter Schiff is great. I have learned a lot from his blogs and from his book. Brilliant guy. But he couldnt run this country with his philosophy. You cant tell people who are starving to wait it out, that better times are ahead if we just grin and bear what we must to eventually strengthen the economy. People, especially Americans want to be nurtured and i dont think you can run a democratic government with purely laisez faire philosophy. I think he probably knows that himself.
"Free Market will create jobs"....when I heard this I laughed. Free market is currently interested in exporting jobs out to low wage countries. Why would they get them done here at higher cost?
@farmerjack777 Multinational corporations are interested in slave wages...why does the free market (everyone) need to work for a multinational corporation? What's wrong with the great American companies that start in someone's garage? What's wrong with a great diversification of ideas and a great number of choices? Unfortunately it's government that's helping the largest companies the most. Not only is it "too big to fail", it's also "too small to let in!"
@farmerjack777 The largest corporations love these multi-million dollar regulations that they'll gladly afford to pay to stifle their industry of all new competition and put up those barriers to entry because then they can dominate in monopolistic fashion, just so long as they have their lobbies organized (remember the days when Microsoft didn't? lol)
YOU are also a part of the "free market" and if you don't like what a company is doing, STOP buying their products.
The only reason you can get higher pay is for higher productivity. If it takes 10 Chinese workers to make a car valued at $10,000, then each worker only has a wage of $1,000.
However in America it only takes 1 worker to make the same car. So that worker can get the full $10,000 salary. Why does it take so much less manpower to make stuff in America? Machines. Capital investment. Productivity.
Th reason jobs are being exported is not because of wages, but burdensome taxes and regulation.
i've seen factories shipped overseas lock stock and barrel within a week.
guys in china would be using the same machine within 24 hours.... at 1/15th of the wage, no medical, no unions, no environmental stuff, no big taxation...etc.
true with the exportation of the US's manufacturing backbone the economy shifted to a low wage service economy now dependent on debt to keep the economy going..with debt added to debt people could only carry so much debt before it all collapsed..the corporate elite also wanted to destroy the power of labor who they hate
Mr.Schiff you said we need to cut spending to save economy i don't understand how that works exactly. Wouldn't economy be better off with government spending money? I understand that government plans destroy jobs but i still think that putting more money into economy will make the economy stronger
Ok, let me ask you this. Where does the money come from that gov. spends ? Not being rude but when you know the answer to that question you will understand why economic stimulus, or spending as they say, is not a good idea. It comes from a printing press thus making it worthless, thus devaluing what is already here, When currency devalues so does equity while debt and the ability to pay debt rises exponentially. Money is just a symbol, it has no intrinsic value. It represents work and energy.
CONT from money response. Since money represents and is a symbol for energy and work, it is easy to see that when a currency devalues so does the work and energy that it represents. This is the phenomenon that you see in many country's where a days work is worth barely enough to live on. That is what a weak currency looks like in terms of quality of life. There is much more too this but that is the bases. REMEMBER money is only a symbol :) Good day.
PBS Frontline did a great doc on the financial collapse. It's an hour long (No commercials), and very informative. Basically, we were days away from paying out rent with grain and animal skins.
As far as the college loan issue, let's wait for the bill, read it, then make a decision.
The home value issue, I agree 100%. Home value should be based on what the market can afford without the need for crazy loans. Nothing more, nothing less.
The rest of the video is Blaa, Blaa, Blaa, talking points!
no president is ever going to have everyone and everything be fine, so videos like this are a bit redundant but do highlight some points that do need to be in the public spotlight
What idiot said that Tea Parties are under corporate control. You moron ever heard of the "Boston Tea Party"? You ever heard of Thomas Jefferson, George Washington, or Benjamin Franklin.
This country needs to go down the tubes. Matybe another revolution will revive it.
I'm looking forward to the Atlanta (10th Amendment Summit) Event.. .if anybody here lives in the NE Atlanta/Gwinnett/Dacula area send me a message. We can get a carpool going and join our efforts.. .
To view event announcment paste in YT home link >> watch?v=ynVbkfXvewU&feature=player_embedded#
Hi, my name is Remington Draper and I gave my heart to the Lord Jesus Christ in the summer of 2003 because I realized that I had broken God's Commandments and that He was going to judge me by them of judgment day. The same is true for everyone reading this. The good news is God Loves You! and sent Jesus to pay the price for our sins and if you're willing to repent (which means to turn away from your sin) and put your trust in the Lord Jesus only to save you, He will and give you eternal life.
"I believe that Christianity is most admirably adapted to the training of slaves, to the perpetuation of a slavery society. The rulers of earth have realized long ago what potent poison inheres in the Christian religion. That is the reason they foster it; that is why they leave noting undone to instill it into the blood of the people. They know only too well that the subtleness of the Christian teachings is a more powerful protection against rebellion and discontent than the club or the gun."
"The most dangerous man, to any government, is the man who is able to think things out for himself without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane and intolerable... and so, if he is romantic, he tries to change it. And even if he is not romantic personally he is apt to spread discontent among those who are." - H.L. Mencken
In regards to low interest rate and home buying. I just bought a house through an FHA with a 30 year fixed with a 5.5% IR...after I finish paying the money back I would have paid more than double the price of the house now ...so, low interest rates is not bad for the lenders, they make their money back regardless....so I think on that he is wrong
Suppose you want to invest in a CD for $50K but the best return a bank will pay you in return is 3% over a period of 5 years.
$50000 x 3% = $1,500
The money you give to the bank for those 5 years is the money they are lending out for those 5.5% IR loans.
Can you see the point he makes about interest rates and investments? There is little incentive to invest if the return is as low as it currently is. This is true for rich and poor alike.
LEARN all you can about the monetary system in this country. It is the key to understanding most things in the United States. It will better help you understand politics, war as well as many other things. The FED is the backbone of most that is wrong in these economic times.
good explanation but just to clarify a bit since you are responding to someone's question, the FED sets sets the discount rate which in a very shallow nutshell is bank to bank interest rates. Typically on the short term. Your statement in a round about way is still correct that the FED sets the rates. The discount rate does effect all other rates. Glad more people are understanding this bastard of a monetary system that we have.
The real $64K question is "Who tells the FED when to change and what the rates will be?"
Wall ST, the EU, China.....?
No one truly OWNS anything. If your house is paid off you are still going to pay property taxes to the state, county and city you live in. If you own your business you have to pay out for licenses to operate said business, rent/mortgage and other overhead, wages(benefits) and taxes upon taxes out the ass. It's almost not worth it in this economy.
I agree, the true notion of ownership in America is a scam. I have always found it amazing that you have to pay property taxes even after your house is paid off. As far as who tells the FED what to do, hmm that is a hard one. If I had to guess I would say the World Bank of England pulls their strings seeing as how they are intimately related to the Rothschild banking cartels. But that is just a guess. The reason you can not escape some form of taxation at every stop CONT.
is because it would obviously lower their control. Many movements in this country from the women's liberation movement, which was forced by the Rockefellar establishment to provide a larger taxable base through women working. Same goes for the civil rights movement. Simultaneously taking women out of the home because of wage deflation, which in my opinion has destroyed parenting. This BS goes on and on.
What you ultimately come to realize is our elected officials don't call the shots on Capitol Hill. The president is a tool and our puppet government is nothing but wool pulled down over our eyes. We are laughed at by other established nations because of our weaknesses, most notably the fact we resort to war before diplomacy.
And we don't need a dumbass president globetrotting about telling those countries we are douche bags and apologizing for it.
David Rockefeller, Rothchilds and the Bilderberg. Go to F.R.E.E. The Fund to Restore an Educated Electorate. There are of course other secret groups that know what is best for them and their vision of the world. We are all done for. Homeland Security is the new game in town? Why? What are they expecting? Why is this administration so pro-school and law enforcement? People do not realize that 1/3rd of the people in jails are mentally ill. Crime is mostly created by laws.
I believe a manufacturing plant that would be eligible for hiring funds would not hire one person. Instead, they would manipulate the rules and make current employees qualify for the funds while taking the windfall profit. Why expand if there isn't a need? They tried this in the eighties. It took corporate raiders to cull the heard and make our economy hungry enough to compete again, not government. If the government keeps ladling soup to the market, it will never recover.
Shiff is good, but the problem with Shiff besides being a Austrian school disciple, is that he all ways caps the argument with "the losses are on tax payers." This is true, but in a weaselly sense, because what Shiff is not directly addressing is the key stone in the arch of corruption, THE BANKS. When the state has become fascist, the burden is always on the taxpayers. Id anything Shill is all for more & complete deregulation.
But the government is responsible for the banks being in the position they are in. The only reason the banks need to be regulated is that the government gave the central bank an artificial monopoly on the money creation process.
You tell us to think for ourselves yet immediately have the belief and swallow the lies that Government regulations are solutions. First, the power of the banking establishment is a prop of State legislation not market forces; Second, the regulations on behalf of such institutions are monopolies of force that in no way regulate but block alternatives, and the notion to save us from ourselves, which in no way does. In short, Gov't replaced accountability, fraud laws, contracts, for bureaucracy.
Its called the "Glass Steagall act." Look it up before you drink more of the free market capitalist utopia kool-aid. There is no such thing a purely free market, just like there is no such thing as a communist utopia. This isn't government taking over wall street, it is wall street taking over government. we had ~20 years of deregulation & this is what you got, a global depression. Like any system without checks & balances it ultimately destroys itself. Then, they cry for a corporate bailout.
Yes there is such thing as purely free market, its called Anarchy. There should of been no Freddie and Fannie, thus no Glass Steagall.
Whether its State taking over the Market, or people in the Market using the State to benefit their needs; its still not a solution to have Government monopolizing the institutions in the market place. Regulations should be subjected to competition, operate on a budget not tax payer money, meet the demands of the people not a politician, regulate not force.
(brief answer) In Anarchy, courts compete against one another like everything else, the same with police and fire departments to the extent there is need for them or some variation, and in history this has happened in the Mild West, Medieval Ireland etc... I heard that Stefbot explains Dispute Resolution Organizations as he called it, with contracts and fraud. It would takes much more than a 500 character count. His user channel is Stefbot. He has videos that cover much of the subject.
Also I forgot to mention there is law in Anarchy, but its known as Common Law. The out comes are a bit different, its more of a whistle blowing campaign against evil people who violent contracts where they get black-balled from the market by people who value honesty, so there business gets creamed and any who do business with them also get labeled. This is all simplified btw...
Nope, the government failed regulating the financial markets. Glass Steagall Act was to regulate previous regulations such as the FDIC. That is why FDIC and Glass Steagall were instituted in the same time period. FDIC was meant to protect the bankers from bank runs, and insure deposits. Since bankers don't fear bank runs, they can do whatever they want. Hence why Glass Steagall was implemented. It's corporate welfare from the government deteriorating prudent standards in lending.
Glass Steagall was instituted to prevent banks from getting into speculation, housing market, etc, separating commercial and investment banking. It worked just fine until its repeal.
Oh course because of the moral hazard from previous regulations. Since the government helps the bankers unfairly, they need regulations to control risk associated with taking risk out of banking. Its pretty simple.
PontiffMystic You make a good point, but I want to add one thing. The fact that there is even a possibility of a "bank run", reveals the corrupt nature of the banking system. A bank run wouldn't be a problem if the banks actually had all the people's deposits in the bank. They only need to have 10% of the cash on reserve. They collect interest on money they don't even have. It's fractional banking and it is the scourge of society.
and the huge pain and suffering settlements handed out by sympathetic juries are routinely struck down in appeals court. the single most important factor used to dertermine the actual award is lost earning potential. with this being said, pain and suffering is considered while death is not. and the level of p & s to actually ellicit an award, is more than you or would care to undergo
booger, you don't know what you're saying. one's ability to sue depends upon who they are. my aunt died from negligence which could be proved in a court of law. the problem is it would cost a half million dollars to try the case because you have to hire doctors from the other side of the country because no local doctors will destify against their peers. but because she was 55 and only made 12 bucks an hour, the reward would max out around the cost of the trial, so we didn't sue.
What your talking about is a different problem and an injustice. I'm talking about doctors who will order countless tests and procedures on old patients who are in the process of dying. The MD. knows the patient is going to die and that the tests are pointless, yet family members insist that it be done. This is all paid for by you and me. The doctors do it out of fear of being sued. Families often don't know when to let go, I know, I worked as a CNA for 7 years at a hospital.
And yes many people do win medical malpractice cases. Some MDs pay $200,000 a year for malpractice insurance. Who do you think that cost is passed on to ? I don't know of to many proffesions where you can never make a mistake. Doctors and Nurse are expected to be perfect every day, it is impossible. Lawsuits should be reserved for only the most serious of mistakes, like cutting off the wrong arm.
Libertarian is not right wing, and being a Jew is not an Israeli. And there is no we, you collectivist scum. Speak for your ignorant self, like you, like the Bush drones during his elections and re-elections, I'll say it again. This isn't about right versus left, its about Liberty, the Constitution, vs. the Establishment.
"It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world." --Thomas Jefferson
Shame on you Connecticut if you don't elect this man ! "All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation". John Adams
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning". Henry Ford
How do you like the change you got now. You wanted that thing, you voted for that thing, now you got that thing. I'm getting sick just talking about that thing. The oBAMa thing, HELP
The arguement is if you put safeguards and guaranteed money from the govt. under any industry (remember real estate?) there is no incentive to be modest or prudent. The same goes for our healthcare industry. Hospitals buy more and more machines for procedures to be billed because insurance will always pay for it.
mongobobo Also, The media and most people don't understand (or realize) the billions of dollars wasted on medical procedures. Doctors are so afraid of being sued by the families of patients, they will order tests and surgeries which should not be done. I've seen 95 year olds on their deathbeds and the family members insisting that they get CT scans/MRI's, etc even though there is no hope.The Doctors want to refuse, but they fear getting sued. We need TORT reform now.
Your are too smart to be a Politician! You should be spending $100,000 a year of our Tax Dollars to buy BOOZE like Nancy Pelosi and then tell us that Tax Breaks are waisted money on the people.
2003: Barney Frank (D-CN) says F&F are not in a crisis. He bashes Republicans for crying wolf and calls F&F financially sound. Democrats block the Republican-sponsored regulation legislation.
2005: Federal Reserve Chairman Alan Greenspan voices a warning over F&F accounting. We are placing the total financial system of the future at a substantial risk. CONT>
2005: Sen. Charles Schumer, (D-NY) says I think Fannie and Freddie over the years have done an incredibly good job and are an intrinsic part of making America the best-housed people in the world if you look over the last 20 or whatever years, they've done a very, very good job. CONT>
2006: Sen. John McCain (R-AZ) again calls for reform. For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac and the sheer magnitude of these companies and the role they play in the marketplace the GSEs (government sponsored enterprises) need to be reformed without delay.
2006: Democrats again block reform legislation.
2008: Housing market collapses; Democrats blame the Republicans!
Aside from obvious biases, it appears that you're not against regulations in general? Whatever the case, your "brief history" could also be used as exhibit #5,189,788 in the argument against the filibuster. Of the years included in your history, a sizable chunk had Republican presidents, with R majorities in the house or the senate, and six years of across-the-board R's. Either the filibuster is ham-stringing America, or your party wasn't really all that hot for reform.
I'm not a Republican! The reason I site the Republicans is simply because there are only TWO PARTYS to choose from and for argument sake one has to chose either one or the other. I am not a Bush fan by any means I was against the Iraq war but support our troops. I am a libertarian and when the day comes that an independent gets elected will be a good day. I am simply pointing out facts. CONT>
Many people are told this housing collapse is solely the fault of the republicans so I am pointing out there is nothing further from the truth because the Dems had a big hand in it. Obama is a progressive which is based on Marxist / Communist principles, he is using the democratic base to achieve his agenda and that is to socialize this nation. Also, tell me why it is bad being PRO regulation in our financial sector, is was the lack of that let these crooks, CONT>
3. run wild and sink this economy in the first place... I'm confused with that comment.
Also you pointed out these filibusters. OK Tell me which Republican Pres had full control of the house and senate. It wasn't Bush! The Dems had control there so who are you talking about? Clinton? Nope... Carter? Nope. So who? Remember if any of the republicans had control during a democratic presidency then ANY reform they may have wanted got Vetoed. CONT>
The bottom line is the the Dems past the CRA and that is where the house of card got its start. Derivatives, Market Default Swaps etc etc all stemmed from the (unregulated) Wall St housing market. Glass Steagall was repealed under Clinton.
"The day that an independent gets elected will be a good day." Amen to that. As it turns out, our positions aren't much different. It's just that, by choosing a side for argument's sake, you came off as blaming only Democrats. I agree that no side is blameless. As for regulations, I believe in this case that the opposite of bad regulations isn't no regulations; it's good regulations, regularly reviewed.
As for which president had full control of both the house and the senate, I guess it depends on your definition of full. If it's a simple majority, then Bush had it under the 107th (50/221), 108th (51/229) and 109th (55/232) congresses. OK, you can leave out the 107th senate, which still leaves four solid years. Why haven't we had any major legislation for several decades? Has the filibuster become a mandate killer, or is simply that the two parties have become stagnant?
The Democrats were in control in congress during the Bush administration. Obama supported most of the spending bills. Keynesian economics does not work. You cannot spend what you do not have without getting into debt. What this country needs to practice is Austrian Economics.
What scares me the most about the massive bank bailouts of late 2008 is the fact that my taxes did NOT go up at all in 2009. Did anybody see their taxes go up in 2009? How is this possible, when we the taxpaying public are supposedly the ones who bailed out the big banks?
Most importantly, what does this mean for our expected taxes for 2010 thru 2012?
What does this mean? It means that while debt is reaching record highs, our tax burden is near historic lows -- it is the lowest in the developed world. It means that while we fret about the debt "our kids" will inherit, we're not exactly volunteering to lighten their load.
I read that Bill Gross of PIMCO said that the fed funds rate should be 1% lower than nominal GDP growth rate.....so the rate should be 4.7%..not 0.25%....certainly the economy would be shocked....in conjunction with the guaranteed loans given to the banks...that's my problem....what happens then?
@Gyrode There shouldn't be any Fed funds rate; all interest rates should be determined by the market. Nobody can use some equation and find out what an interest rate "should be". With regards to what will happen, figure that right now the US government is about $13 trillion in debt, it will be closer to $15 trillion soon and they pay $450 billion per annum at record low rates, So if these rates even triple (they will probably go up ten fold minimum) interest alone would be almost
the entire federal deficit alone. The US government will default; this is inevitable. The only question is when it will happen. When it does, there will also be a currency crisis here and shockwaves throughout the global markets.
Well there's another choice. A way to pay off this debt in 20 years without defaulting and without much sacrifice here in America. Imagine that!! We don't have to cut one program in America and still pay off the entire debt. If they would just stop the occupation in overseas military bases (700 of them at last count) Stop sending money overseas and cut spending the over $1.5 Trillion per year. Of course we could also cut a big chunk of domestic spending as well and pay off this debt in 10 years.
In reality this will never happen although I wish it would. I wish the entire government would resign and dissolve themselves and leave the rest of us alone. However, the State will never stop growing. The US government tipped over the edge into insanity a long time ago, they will print, spend, and tax until the entire country falls into utter chaos and poverty.
That would do wonders for our current national debt, but not our unfunded entitlements currently valued at $1MM+ per non-retired household above the poverty line. Entitlements are much bigger of a problem than the debt, even at $13-15TT.
I should have been more clear. What I meant, that if the FED was concerned about sound policy...the interest rate would be higher as if the market set it...but the pain would be immense after a while, especially after the bank bailout loans.
Too dangerous. He wouldn't last an hour. Remember Kennedy? He wanted to break up the CIA, "into a thousand pieces". And remember Martin Luther King? He had a dream of equality. Remember Schiff talking about reigning in Wall Sreet??? Fuggetaboditt....
The message I got from President Obama's SOTU speech was:
Stop Government Intrusion and Corruption. O swung and missed cause Chris Matthews didn't report any leg chills or whatever.
I see Ron Paul is trying to audit the fed. The progressives saw Obamas first year as their best chance to takeover HC, the American people really stood up just in time! It's a realistic enormous uncharted prospect getting a real good look at the central bank right now. Hopefully it's fixable, might be ugly.
well I pay 120$ per semester total.. but I consider myself lucky not to live in the states. My mother in law studies in New York and is still paying back her student loans. How f... ridiculous
This guy hits the nail on the head. We need more people like him in the senate and congress. When you have idiots like Obama pushing for cap and trade when there is no threat of AGW, coupled with his BS healthcare program, which well over half the nation doesn't want. And he is willing to force it down our throats. What a dissaster. We have no money! Our idiot president needs to stop putting us in more debt, and reward corporations for building in the US, and not in China.
Peter, you are the absolute bomb! But I think you are wrong about ahhbumma and his lack of understanding... I would suggest that he is completely aware of what is going on and is fufilling an agenda that would horrify people if they would only "listen" to what he is and has said. He knows exactly what he is doing, make no mistake about this. If you continue to provide him with the "get off the hook" card by saying he doesnt know, then he will suceed at carrying out his agenda. Make sense?
Just because you pay for your Tuition doesn't mean you are guaranteed a degree. You still have to do your studies and pass the class. In Fact, most employers look at your GPA before hiring. If its not good, you are not getting a Job. So, Peter is saying that degrees will be worthless, but while degrees are definitely losing value because of reasons he mentioned, you still need to pass the classes to get a degree.
studies have shown that government investment in education pays off in the long term...
for every dollar invested in education , 4 Dollars are generated...but hey who cares about that?
Public education is an entitlement program..let's be tough on crime & round up poor kids in the ghetto & send them ALL to jail for the rest of their lives...oh no it's not racist...we're just being "tough on crime"
I'm listening to this guy Peter Schiff talk...I've actually heard a whole BUNCH times...I can't help but notice al of the WRONG things he's saying...
So, due to the advent of neoliberalsim with Reagan, the United States education system has been neglected for DECADES (cuts in spending that decimate our education system are considered "freedom" to the fiscal conservative)
So the president FINALLY proposes a solution & Schiff has problem with it & the reasons he gives are totally unfounded!
You seems not to understand the basics here.Less tutions cost means affordable education.More and more people can study.If government gives more debts for education ,the colleges will keep increasing the cost.putting people in more debt.
it's all about gov takeover.they want to put their filthy dam hands on everything.if we are making money on something,you better believe they're going to want their cut.sounds just like the mafia huh?that's all they are.DONT TREAD ON ME!!!!!
Peter, ummm....when the regulations for banks are restored, does that mean the problems are all over? What is the next step to ensure prosperity remains in America? Do you think there is another step that should be taken? Yes, of course, take your time.....go call a friend - use your life line.
I´m betting he doesnt have a policy post-regulation and think thats all there needs to be done.
I think one should decide for one's self whether a fulfilled life has been lived. I think the point of offering opportunities for college isn't to make workers feel bad, but to make college less elitist by making it more available. Speaking for myself, I like building and fixing things, but to get a decent job where I live are service jobs required getting a college degree.
tell'm Peter. And look at the billions we're spending here at home on all these fake 'big brother" homeland security bureaucracies. Acres of bullshit surveillance of Americans for Nada! I thought that's why we were going over seas to take the war to the terrorists? If we took it over their, why do we need it here? Total bullshit waste of huge taxpayer dollars. In the end, it won't do shit about terrorism because we invented the terrorist!! Obama, Bush, doesn't matter. Pick your flavor of shit
If any of you detractors can expose a flaw in this man's logic, I would love to hear it. Defend your explanation like this man, and you will then deserve an audience. I'm not gonna hold my breath ... .
Schiff is economic genius. He makes too much sense. Cause and effect like no other.
whats the old saying... Common Sense isn't common....I am always amazed at the stupity of average college students. Most of the kids I grew up with, had eighth grade catholic school education. They piss all over todays college graduates. No funds for public Ed. Hope schiff wins.
That was Will Rogers: "Common sense ain't common." Which sounds a lot like Horace Greeley's "Common sense is very uncommon." However, Albert Einstein said: "Common sense is the collection of prejudices acquired by age eighteen." And some unknown wit stated: "Common sense is what tells us the Earth is flat and the Sun goes around it." I suspect the latter two were college kids.
I'm tired of this Kenyan boy saying that he inherited 2 wars etc blah, blah, blah.
This scum is in the illuminati bloodline and most of the population knows what's going on and how the elite work. He's going to bankrupt the US and IMO set off a nuke and blame another country or some other type of event in order to impose martial law. Take your red, blue and yellow dots and shove 'em up your ass! They want to take on the American people and they can't even control gangs in Haiti! Obama is a POS!
Gotta agree with blackOP. The left-right paradigm means nothing anymore. A neo-con is no less left than a union bought liberal is right. They both advocate the use of force to impose on others whatever subjective values they hold dearest.
And yes, Teddy had imperialist inclinations. Both parties have equally had them at various points in their history.
I think Peter was right on its time to focus on slashing regulations and creating new laws to wipe out all these old laws that no longer help America, Americans and our economy. It really should be a political movement to de-construct these destructive laws and regulations that are harming us on all government levels local, state and natonal.We need to reduce government and the laws that have tied our hands instead we have had two parties who argue how fast to GROW the government this is WRONG.
Condensed version of this speech..... Bush did it Republicans are bad Me Me Me I I I The judges blew it The military failed Me Me Me I I I Lie Lie Lie Lie Lie Lie
@postrealitysyndrome: You don't need to waste a semester, many hours, and a great deal of taxpayer money learning philosophy. You can learn it in a book.
Speaking from the point of view of one who has just finished college, I can state pretty plainly that I absolutely hated all of the mandatory classes they made me took which had no relevance to my programming degree.
They make me take 'humanities' classes and 'ethics' classes. As if I couldn't learn that stuff on my own.
If government would just enforce contracts between mutually-consenting parties, we wouldn't be in such a mess. Instead, our goverment rewards the incompetent fraudsters by picking people like Tim Geithner for treasury secretary and Ben Bernanke was just reconfirmed for Federal Reserve Chairman. We keep looking to the same idiots for advice on how to fix the problem.
"Insanity: trying the same thing over and over and expecting different results." Albert Einstein
They believe government can solve all our problems; even though history has shown them to be wrong.
Obama is an idealist progressive, an emanate political speaker who wants more taxes, bigger government and hates the "dumb" people. "dont get in my way" is what Obama said.
After the supreme court decision to allow foreign countries buy our representatives, should we still be worried about giving money to an election fund; I mean it really depends on if the corporations find it in their best interest to elect you at this point, doesn't it?
Okay then, domestic companies owned by foreign investors... Still the same result, right? I'm not saying that officials aren't ALREADY mostly bought and payed for, but it seems impractical to hold out hope for any form of democracy to squeeze through at this point (Causes me to reminisce about "defending against enemies, foreign and domestic" back when I was in the Navy). Seems like we no longer have the tools to do so to me.
We have a puppet president just like the countries that we helped to create puppet leaders now we have finally given ourselves the same gift. Long live the corporations of America! Oh sorry, I forget, they are already immortal.
reverenceforall 6 months ago
Thank god I served in the Navy so I don't even have to pay for grad school. But still mad I am 28 have been out of the navy for 5 years and now going for my MA degree why on earth would one need all of these degrees? I haven't learned anything useful in college except how clueless most people in college are. I go to college with a bunch of intellectual wannabees and this is how to fit in: Glasses, tight pants, long messy hair, no shave and a worn out tee shirt with old school Reeboks.
dinamo4889 1 year ago
When i saw this yesterday, i said to myself Chris, you and every other college student in America is FUCKED.
Videowatcher198 1 year ago
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jimotazertaki 1 year ago
Seriously Mr. Schiff. You should consider running for president in 2012! You have my support and vote! God bless!
iam4u2cl8er 1 year ago 2
@iam4u2cl8er
They will never let someone with a brain run for President, these guys are all puppets and "selected". Yes you vote for them but your choice was preselected by someone else.
Gabbo2010 1 year ago 2
@Gabbo2010 How correct you are! I hate that fact! I hate it that the public are so blind to the fact that these people running for president are all in bed with large banks, corporations and so forth. Those like JFK who actually support the American people get assasinated. I hate to admit it but this country is doomed because of the greed of a few! The consitution of the United States is nothing more than toilet paper to these ghoons who have robbed the soul of America! I pray for the US!!
iam4u2cl8er 1 year ago 2
I agree with what Sciff has said. I don't believe that it's the case that Obama has been misguided and lacks understanding about the true ecomic issues. Obama knows exactly what he is doing and what he was hired to do--to serve the interests of corporations and not the citizens. The government is fascist because the merger of state powers with corporate powers is fascism. It matters little whoever one elects for president because they are owned. There is a shadow government, an elite.
111RobinHood 1 year ago 3
You do know that America is past the point of peaceful change, don't you? Nothing short of a bloody, violent revolution is the only solution to America's problems. State secession and organized terrorism directed toward politicians being parts of the equation. I dare anyone to prove me wrong.
Mufaso1000 1 year ago 3
Peter Schiff is great. I have learned a lot from his blogs and from his book. Brilliant guy. But he couldnt run this country with his philosophy. You cant tell people who are starving to wait it out, that better times are ahead if we just grin and bear what we must to eventually strengthen the economy. People, especially Americans want to be nurtured and i dont think you can run a democratic government with purely laisez faire philosophy. I think he probably knows that himself.
peccleft64 2 years ago
"Free Market will create jobs"....when I heard this I laughed. Free market is currently interested in exporting jobs out to low wage countries. Why would they get them done here at higher cost?
farmerjack777 2 years ago
@farmerjack777 Multinational corporations are interested in slave wages...why does the free market (everyone) need to work for a multinational corporation? What's wrong with the great American companies that start in someone's garage? What's wrong with a great diversification of ideas and a great number of choices? Unfortunately it's government that's helping the largest companies the most. Not only is it "too big to fail", it's also "too small to let in!"
heymisterderp 2 years ago
@farmerjack777 The largest corporations love these multi-million dollar regulations that they'll gladly afford to pay to stifle their industry of all new competition and put up those barriers to entry because then they can dominate in monopolistic fashion, just so long as they have their lobbies organized (remember the days when Microsoft didn't? lol)
YOU are also a part of the "free market" and if you don't like what a company is doing, STOP buying their products.
heymisterderp 2 years ago
The only reason you can get higher pay is for higher productivity. If it takes 10 Chinese workers to make a car valued at $10,000, then each worker only has a wage of $1,000.
However in America it only takes 1 worker to make the same car. So that worker can get the full $10,000 salary. Why does it take so much less manpower to make stuff in America? Machines. Capital investment. Productivity.
Th reason jobs are being exported is not because of wages, but burdensome taxes and regulation.
fluff125 2 years ago
i've seen factories shipped overseas lock stock and barrel within a week.
guys in china would be using the same machine within 24 hours.... at 1/15th of the wage, no medical, no unions, no environmental stuff, no big taxation...etc.
orangedac 1 year ago
true with the exportation of the US's manufacturing backbone the economy shifted to a low wage service economy now dependent on debt to keep the economy going..with debt added to debt people could only carry so much debt before it all collapsed..the corporate elite also wanted to destroy the power of labor who they hate
xadam2dudex 2 years ago
Thanks Peter, Sorry but these problems where started decades ago.
justaoldslave 2 years ago
Peter,
Are you implying that the US government should adhere to the original version of the Constitution?
You are running for office, how would you propose this in the senate?
alwaysopen 2 years ago
Mr.Schiff you said we need to cut spending to save economy i don't understand how that works exactly. Wouldn't economy be better off with government spending money? I understand that government plans destroy jobs but i still think that putting more money into economy will make the economy stronger
Timmioh123 2 years ago
You speak of a practice that leads to inflation which will turn to hyper-inflation at this point in our economy.
You won't want to be around if that happens in this country.
alwaysopen 2 years ago
Ok, let me ask you this. Where does the money come from that gov. spends ? Not being rude but when you know the answer to that question you will understand why economic stimulus, or spending as they say, is not a good idea. It comes from a printing press thus making it worthless, thus devaluing what is already here, When currency devalues so does equity while debt and the ability to pay debt rises exponentially. Money is just a symbol, it has no intrinsic value. It represents work and energy.
hatchls1 2 years ago
CONT from money response. Since money represents and is a symbol for energy and work, it is easy to see that when a currency devalues so does the work and energy that it represents. This is the phenomenon that you see in many country's where a days work is worth barely enough to live on. That is what a weak currency looks like in terms of quality of life. There is much more too this but that is the bases. REMEMBER money is only a symbol :) Good day.
hatchls1 2 years ago
PBS Frontline did a great doc on the financial collapse. It's an hour long (No commercials), and very informative. Basically, we were days away from paying out rent with grain and animal skins.
As far as the college loan issue, let's wait for the bill, read it, then make a decision.
The home value issue, I agree 100%. Home value should be based on what the market can afford without the need for crazy loans. Nothing more, nothing less.
The rest of the video is Blaa, Blaa, Blaa, talking points!
fret2424 2 years ago
no president is ever going to have everyone and everything be fine, so videos like this are a bit redundant but do highlight some points that do need to be in the public spotlight
brinkers517 2 years ago
What idiot said that Tea Parties are under corporate control. You moron ever heard of the "Boston Tea Party"? You ever heard of Thomas Jefferson, George Washington, or Benjamin Franklin.
This country needs to go down the tubes. Matybe another revolution will revive it.
lacourb1 2 years ago 6
What tubes? I don't see any tubes in this country lol. I know what you mean, I was kidding around.
noone120000 2 years ago
The "Hi everybody" sounded very much like Stefan's "Hi everybody". Go Peter!
RuddODragonFear 2 years ago
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blttomato 2 years ago
if you're running for Senate, should you maybe learn how to express yourself in an intelligent, composed way?
I'm available for hire if you need help.
cthide 2 years ago
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Hi, my name is Remington Draper and I gave my heart to the Lord Jesus Christ in the summer of 2003 because I realized that I had broken God's Commandments and that He was going to judge me by them of judgment day. The same is true for everyone reading this. The good news is God Loves You! and sent Jesus to pay the price for our sins and if you're willing to repent (which means to turn away from your sin) and put your trust in the Lord Jesus only to save you, He will and give you eternal life.
remdrper 2 years ago
"I believe that Christianity is most admirably adapted to the training of slaves, to the perpetuation of a slavery society. The rulers of earth have realized long ago what potent poison inheres in the Christian religion. That is the reason they foster it; that is why they leave noting undone to instill it into the blood of the people. They know only too well that the subtleness of the Christian teachings is a more powerful protection against rebellion and discontent than the club or the gun."
BIackOp 2 years ago
-Emma Goldman
"Religion is regarded by the common people as true, by the wise as false, and by the rulers as useful." -Seneca the Younger
BIackOp 2 years ago
"If God really does exist, it would be necessary to abolish him." -Mikhail Bakunin
"I cannot believe in a God who wants to be praised all the time." -Friedrich Nietzsche
BIackOp 2 years ago
"The most dangerous man, to any government, is the man who is able to think things out for himself without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane and intolerable... and so, if he is romantic, he tries to change it. And even if he is not romantic personally he is apt to spread discontent among those who are." - H.L. Mencken
BIackOp 2 years ago 2
people don't want the truth, people need to put their hand in the fire
Shakin2012 2 years ago 2
In regards to low interest rate and home buying. I just bought a house through an FHA with a 30 year fixed with a 5.5% IR...after I finish paying the money back I would have paid more than double the price of the house now ...so, low interest rates is not bad for the lenders, they make their money back regardless....so I think on that he is wrong
briggs9187 2 years ago
OK,
Suppose you want to invest in a CD for $50K but the best return a bank will pay you in return is 3% over a period of 5 years.
$50000 x 3% = $1,500
The money you give to the bank for those 5 years is the money they are lending out for those 5.5% IR loans.
Can you see the point he makes about interest rates and investments? There is little incentive to invest if the return is as low as it currently is. This is true for rich and poor alike.
The Federal Reserve sets the rates.
alwaysopen 2 years ago
ok I see it now...I only see the consumer side and not really the bank aspect of the loans and Interest rates...thanks for explaining it
briggs9187 2 years ago
LEARN all you can about the monetary system in this country. It is the key to understanding most things in the United States. It will better help you understand politics, war as well as many other things. The FED is the backbone of most that is wrong in these economic times.
hatchls1 2 years ago 2
good explanation but just to clarify a bit since you are responding to someone's question, the FED sets sets the discount rate which in a very shallow nutshell is bank to bank interest rates. Typically on the short term. Your statement in a round about way is still correct that the FED sets the rates. The discount rate does effect all other rates. Glad more people are understanding this bastard of a monetary system that we have.
hatchls1 2 years ago
The real $64K question is "Who tells the FED when to change and what the rates will be?"
Wall ST, the EU, China.....?
No one truly OWNS anything. If your house is paid off you are still going to pay property taxes to the state, county and city you live in. If you own your business you have to pay out for licenses to operate said business, rent/mortgage and other overhead, wages(benefits) and taxes upon taxes out the ass. It's almost not worth it in this economy.
Who really calls the shots?
alwaysopen 2 years ago
I agree, the true notion of ownership in America is a scam. I have always found it amazing that you have to pay property taxes even after your house is paid off. As far as who tells the FED what to do, hmm that is a hard one. If I had to guess I would say the World Bank of England pulls their strings seeing as how they are intimately related to the Rothschild banking cartels. But that is just a guess. The reason you can not escape some form of taxation at every stop CONT.
hatchls1 2 years ago 2
is because it would obviously lower their control. Many movements in this country from the women's liberation movement, which was forced by the Rockefellar establishment to provide a larger taxable base through women working. Same goes for the civil rights movement. Simultaneously taking women out of the home because of wage deflation, which in my opinion has destroyed parenting. This BS goes on and on.
hatchls1 2 years ago
What you ultimately come to realize is our elected officials don't call the shots on Capitol Hill. The president is a tool and our puppet government is nothing but wool pulled down over our eyes. We are laughed at by other established nations because of our weaknesses, most notably the fact we resort to war before diplomacy.
And we don't need a dumbass president globetrotting about telling those countries we are douche bags and apologizing for it.
The puppeteers have long arms.
alwaysopen 2 years ago
David Rockefeller, Rothchilds and the Bilderberg. Go to F.R.E.E. The Fund to Restore an Educated Electorate. There are of course other secret groups that know what is best for them and their vision of the world. We are all done for. Homeland Security is the new game in town? Why? What are they expecting? Why is this administration so pro-school and law enforcement? People do not realize that 1/3rd of the people in jails are mentally ill. Crime is mostly created by laws.
marinello6 2 years ago
I believe a manufacturing plant that would be eligible for hiring funds would not hire one person. Instead, they would manipulate the rules and make current employees qualify for the funds while taking the windfall profit. Why expand if there isn't a need? They tried this in the eighties. It took corporate raiders to cull the heard and make our economy hungry enough to compete again, not government. If the government keeps ladling soup to the market, it will never recover.
imataxslave 2 years ago
Good they should of gone under...Just think.. we would already be well into a REAL Meaningful recovery!! Mr onenewshoe ...You are a tool
damnright4 2 years ago
This comment has received too many negative votes show
What a jerk this Peter SHIT is. The bail out was better than letting the fuckin' banks and car manuf. go under.
onenewshoe 2 years ago
Wrong.
BIackOp 2 years ago 2
Shiff is good, but the problem with Shiff besides being a Austrian school disciple, is that he all ways caps the argument with "the losses are on tax payers." This is true, but in a weaselly sense, because what Shiff is not directly addressing is the key stone in the arch of corruption, THE BANKS. When the state has become fascist, the burden is always on the taxpayers. Id anything Shill is all for more & complete deregulation.
Think for yourself folks!
biped19 2 years ago
But the government is responsible for the banks being in the position they are in. The only reason the banks need to be regulated is that the government gave the central bank an artificial monopoly on the money creation process.
cent25 2 years ago
You tell us to think for ourselves yet immediately have the belief and swallow the lies that Government regulations are solutions. First, the power of the banking establishment is a prop of State legislation not market forces; Second, the regulations on behalf of such institutions are monopolies of force that in no way regulate but block alternatives, and the notion to save us from ourselves, which in no way does. In short, Gov't replaced accountability, fraud laws, contracts, for bureaucracy.
BIackOp 2 years ago
Its called the "Glass Steagall act." Look it up before you drink more of the free market capitalist utopia kool-aid. There is no such thing a purely free market, just like there is no such thing as a communist utopia. This isn't government taking over wall street, it is wall street taking over government. we had ~20 years of deregulation & this is what you got, a global depression. Like any system without checks & balances it ultimately destroys itself. Then, they cry for a corporate bailout.
biped19 2 years ago
Yes there is such thing as purely free market, its called Anarchy. There should of been no Freddie and Fannie, thus no Glass Steagall.
Whether its State taking over the Market, or people in the Market using the State to benefit their needs; its still not a solution to have Government monopolizing the institutions in the market place. Regulations should be subjected to competition, operate on a budget not tax payer money, meet the demands of the people not a politician, regulate not force.
BIackOp 2 years ago
@BIackOp I don't understand how you can have capitalism without laws to protect contracts.
NotRadicalLogical 2 years ago
(brief answer) In Anarchy, courts compete against one another like everything else, the same with police and fire departments to the extent there is need for them or some variation, and in history this has happened in the Mild West, Medieval Ireland etc... I heard that Stefbot explains Dispute Resolution Organizations as he called it, with contracts and fraud. It would takes much more than a 500 character count. His user channel is Stefbot. He has videos that cover much of the subject.
BIackOp 2 years ago
Also I forgot to mention there is law in Anarchy, but its known as Common Law. The out comes are a bit different, its more of a whistle blowing campaign against evil people who violent contracts where they get black-balled from the market by people who value honesty, so there business gets creamed and any who do business with them also get labeled. This is all simplified btw...
BIackOp 2 years ago
who violate*
BIackOp 2 years ago
Nope, the government failed regulating the financial markets. Glass Steagall Act was to regulate previous regulations such as the FDIC. That is why FDIC and Glass Steagall were instituted in the same time period. FDIC was meant to protect the bankers from bank runs, and insure deposits. Since bankers don't fear bank runs, they can do whatever they want. Hence why Glass Steagall was implemented. It's corporate welfare from the government deteriorating prudent standards in lending.
PontiffMystic 2 years ago
Glass Steagall was instituted to prevent banks from getting into speculation, housing market, etc, separating commercial and investment banking. It worked just fine until its repeal.
biped19 2 years ago
Oh course because of the moral hazard from previous regulations. Since the government helps the bankers unfairly, they need regulations to control risk associated with taking risk out of banking. Its pretty simple.
PontiffMystic 2 years ago
PontiffMystic You make a good point, but I want to add one thing. The fact that there is even a possibility of a "bank run", reveals the corrupt nature of the banking system. A bank run wouldn't be a problem if the banks actually had all the people's deposits in the bank. They only need to have 10% of the cash on reserve. They collect interest on money they don't even have. It's fractional banking and it is the scourge of society.
booger546 2 years ago 2
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campaign4liberty 2 years ago
and the huge pain and suffering settlements handed out by sympathetic juries are routinely struck down in appeals court. the single most important factor used to dertermine the actual award is lost earning potential. with this being said, pain and suffering is considered while death is not. and the level of p & s to actually ellicit an award, is more than you or would care to undergo
shrikesim 2 years ago
booger, you don't know what you're saying. one's ability to sue depends upon who they are. my aunt died from negligence which could be proved in a court of law. the problem is it would cost a half million dollars to try the case because you have to hire doctors from the other side of the country because no local doctors will destify against their peers. but because she was 55 and only made 12 bucks an hour, the reward would max out around the cost of the trial, so we didn't sue.
shrikesim 2 years ago
What your talking about is a different problem and an injustice. I'm talking about doctors who will order countless tests and procedures on old patients who are in the process of dying. The MD. knows the patient is going to die and that the tests are pointless, yet family members insist that it be done. This is all paid for by you and me. The doctors do it out of fear of being sued. Families often don't know when to let go, I know, I worked as a CNA for 7 years at a hospital.
booger546 2 years ago
And yes many people do win medical malpractice cases. Some MDs pay $200,000 a year for malpractice insurance. Who do you think that cost is passed on to ? I don't know of to many proffesions where you can never make a mistake. Doctors and Nurse are expected to be perfect every day, it is impossible. Lawsuits should be reserved for only the most serious of mistakes, like cutting off the wrong arm.
booger546 2 years ago 3
This comment has received too many negative votes show
Boo hoo a right wing Israeli is bitching NOW that Obama is President what else is new ?
GFY we can see right through you wanna be Senator Schiff.
TimmyHaag 2 years ago
Libertarian is not right wing, and being a Jew is not an Israeli. And there is no we, you collectivist scum. Speak for your ignorant self, like you, like the Bush drones during his elections and re-elections, I'll say it again. This isn't about right versus left, its about Liberty, the Constitution, vs. the Establishment.
BIackOp 2 years ago
"It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world." --Thomas Jefferson
booger546 2 years ago 2
Shame on you Connecticut if you don't elect this man ! "All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation". John Adams
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning". Henry Ford
booger546 2 years ago
911 was a zionist job
watch 911missinglinks
only elect people that will investigate and properly act on the people involved in this bolshevik zionist crime network
ExposeZionistCrimes 2 years ago
How do you like the change you got now. You wanted that thing, you voted for that thing, now you got that thing. I'm getting sick just talking about that thing. The oBAMa thing, HELP
kennethrobinson123 2 years ago
The arguement is if you put safeguards and guaranteed money from the govt. under any industry (remember real estate?) there is no incentive to be modest or prudent. The same goes for our healthcare industry. Hospitals buy more and more machines for procedures to be billed because insurance will always pay for it.
mongobobo 2 years ago
mongobobo Also, The media and most people don't understand (or realize) the billions of dollars wasted on medical procedures. Doctors are so afraid of being sued by the families of patients, they will order tests and surgeries which should not be done. I've seen 95 year olds on their deathbeds and the family members insisting that they get CT scans/MRI's, etc even though there is no hope.The Doctors want to refuse, but they fear getting sued. We need TORT reform now.
booger546 2 years ago
Fortunately none of these proposals will come to fruition. They can't.
mongobobo 2 years ago
Your are too smart to be a Politician! You should be spending $100,000 a year of our Tax Dollars to buy BOOZE like Nancy Pelosi and then tell us that Tax Breaks are waisted money on the people.
evramos70 2 years ago
Comment removed
onenewshoe 2 years ago
He does this all the time at his public speaking events. Are you a complete idiot?
rolexx 2 years ago
the other new shoe must be up your arse you blind pea brained arshole!!!!!!
wide4u44 2 years ago
Way to address the issue at hand. Quite the debater you are, aren't you?
ChiefRocka01 2 years ago
Obama = puppet and liar
stop Iraq and Afghanistan occupations
RIP more than 1300 000 Iraqi civilians
Obama promised to STOP wars
and to close Guantanamo
he is LIAR
don`t believe in anything what he says
I can`t beleive people still believe in Obama
911insidejob81 2 years ago
there is no precedent for attacking them at all!!!!
there is no moral authority for the US to run around the world pre-emptively attacking countries, PERIOD.
you're brainwashed to accept this militarism and interventionism.
pretorious700 2 years ago
Did he say Peter Shit? This guy is a fuckin' clown and doesn't know 'SHIT'!
onenewshoe 2 years ago 2
Your ignorance is palpable.
pretorious700 2 years ago
@onenewshoe Peter SCHIFF, not Peter Shit. He's one of the few who predicted the economic collapse
RONPAUL2012PRESIDENT 2 years ago
@onenewshoe Read his books like "Crash Proof" that tells how the economic collapse was created.
RONPAUL2012PRESIDENT 2 years ago
LMAO@ "Peter Shit" !! He sure is.
CaptainKhrenov 2 years ago
Bet your tonsils are still sore.
gbait3 2 years ago
1.
A brief history of the financial crisis, part 1
1977: Jimmy Carter (D) signs the Community Reinvestment Act, guaranteeing home loans to low-income families
1999: Bill Clinton (D) puts the CRA on steroids, pushing Fannie Mae and Freddie Mac to increase the number of sub-prime loans.
2003: The White House calls Fannie and Freddie a systemic risk. The Bush administration pushes Congress to enact new regulations. CONT>
SendinK9 2 years ago
2.
2003: Barney Frank (D-CN) says F&F are not in a crisis. He bashes Republicans for crying wolf and calls F&F financially sound. Democrats block the Republican-sponsored regulation legislation.
2005: Federal Reserve Chairman Alan Greenspan voices a warning over F&F accounting. We are placing the total financial system of the future at a substantial risk. CONT>
SendinK9 2 years ago 2
3.
A brief history of the financial crisis, part 2
2005: Sen. Charles Schumer, (D-NY) says I think Fannie and Freddie over the years have done an incredibly good job and are an intrinsic part of making America the best-housed people in the world if you look over the last 20 or whatever years, they've done a very, very good job. CONT>
SendinK9 2 years ago 2
4.
2006: Sen. John McCain (R-AZ) again calls for reform. For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac and the sheer magnitude of these companies and the role they play in the marketplace the GSEs (government sponsored enterprises) need to be reformed without delay.
2006: Democrats again block reform legislation.
2008: Housing market collapses; Democrats blame the Republicans!
SendinK9 2 years ago 2
Aside from obvious biases, it appears that you're not against regulations in general? Whatever the case, your "brief history" could also be used as exhibit #5,189,788 in the argument against the filibuster. Of the years included in your history, a sizable chunk had Republican presidents, with R majorities in the house or the senate, and six years of across-the-board R's. Either the filibuster is ham-stringing America, or your party wasn't really all that hot for reform.
MMS747 2 years ago
1.
MMS747
I'm not a Republican! The reason I site the Republicans is simply because there are only TWO PARTYS to choose from and for argument sake one has to chose either one or the other. I am not a Bush fan by any means I was against the Iraq war but support our troops. I am a libertarian and when the day comes that an independent gets elected will be a good day. I am simply pointing out facts. CONT>
SendinK9 2 years ago
2.
Many people are told this housing collapse is solely the fault of the republicans so I am pointing out there is nothing further from the truth because the Dems had a big hand in it. Obama is a progressive which is based on Marxist / Communist principles, he is using the democratic base to achieve his agenda and that is to socialize this nation. Also, tell me why it is bad being PRO regulation in our financial sector, is was the lack of that let these crooks, CONT>
SendinK9 2 years ago 2
3. run wild and sink this economy in the first place... I'm confused with that comment.
Also you pointed out these filibusters. OK Tell me which Republican Pres had full control of the house and senate. It wasn't Bush! The Dems had control there so who are you talking about? Clinton? Nope... Carter? Nope. So who? Remember if any of the republicans had control during a democratic presidency then ANY reform they may have wanted got Vetoed. CONT>
SendinK9 2 years ago 2
4.
The bottom line is the the Dems past the CRA and that is where the house of card got its start. Derivatives, Market Default Swaps etc etc all stemmed from the (unregulated) Wall St housing market. Glass Steagall was repealed under Clinton.
SendinK9 2 years ago 3
"The day that an independent gets elected will be a good day." Amen to that. As it turns out, our positions aren't much different. It's just that, by choosing a side for argument's sake, you came off as blaming only Democrats. I agree that no side is blameless. As for regulations, I believe in this case that the opposite of bad regulations isn't no regulations; it's good regulations, regularly reviewed.
M0N1ER 2 years ago
As for which president had full control of both the house and the senate, I guess it depends on your definition of full. If it's a simple majority, then Bush had it under the 107th (50/221), 108th (51/229) and 109th (55/232) congresses. OK, you can leave out the 107th senate, which still leaves four solid years. Why haven't we had any major legislation for several decades? Has the filibuster become a mandate killer, or is simply that the two parties have become stagnant?
M0N1ER 2 years ago
Business owner. Only hire Republicans. The rest voted themselves out of a job.
8av8today 2 years ago 2
Keynesian economics is a bipartisan disaster.
KenMacMillan 2 years ago
The Democrats were in control in congress during the Bush administration. Obama supported most of the spending bills. Keynesian economics does not work. You cannot spend what you do not have without getting into debt. What this country needs to practice is Austrian Economics.
100marymich 2 years ago 4
What scares me the most about the massive bank bailouts of late 2008 is the fact that my taxes did NOT go up at all in 2009. Did anybody see their taxes go up in 2009? How is this possible, when we the taxpaying public are supposedly the ones who bailed out the big banks?
Most importantly, what does this mean for our expected taxes for 2010 thru 2012?
Narniak69 2 years ago
What does this mean? It means that while debt is reaching record highs, our tax burden is near historic lows -- it is the lowest in the developed world. It means that while we fret about the debt "our kids" will inherit, we're not exactly volunteering to lighten their load.
MMS747 2 years ago
Peter it has been 4 days, and we NEED an update. Where are you????
rolexx 2 years ago
Great analysis Peter. Hopefully the citizens of CT wake up and vote you into the Senate.
BFC2011 2 years ago
Yea, like you are the guy we should have judging the presidents speech. Get lost you creep.
onenewshoe 2 years ago
It's so frustrating to see how our government has failed again in solving the biggest problem of our country.
Moreover, Obama's new budget plan calls for more taxes on businesses. I suppose that will really help our fragile economy going forward!
JudgeHades 2 years ago 3
of course the government isn't listening to you peter. you aren't licking their boots and worshiping their power.
n66178 2 years ago
I read that Bill Gross of PIMCO said that the fed funds rate should be 1% lower than nominal GDP growth rate.....so the rate should be 4.7%..not 0.25%....certainly the economy would be shocked....in conjunction with the guaranteed loans given to the banks...that's my problem....what happens then?
Gyrode 2 years ago
@Gyrode There shouldn't be any Fed funds rate; all interest rates should be determined by the market. Nobody can use some equation and find out what an interest rate "should be". With regards to what will happen, figure that right now the US government is about $13 trillion in debt, it will be closer to $15 trillion soon and they pay $450 billion per annum at record low rates, So if these rates even triple (they will probably go up ten fold minimum) interest alone would be almost
readthepaper 2 years ago
the entire federal deficit alone. The US government will default; this is inevitable. The only question is when it will happen. When it does, there will also be a currency crisis here and shockwaves throughout the global markets.
readthepaper 2 years ago
Well there's another choice. A way to pay off this debt in 20 years without defaulting and without much sacrifice here in America. Imagine that!! We don't have to cut one program in America and still pay off the entire debt. If they would just stop the occupation in overseas military bases (700 of them at last count) Stop sending money overseas and cut spending the over $1.5 Trillion per year. Of course we could also cut a big chunk of domestic spending as well and pay off this debt in 10 years.
mickeysears 2 years ago 2
In reality this will never happen although I wish it would. I wish the entire government would resign and dissolve themselves and leave the rest of us alone. However, the State will never stop growing. The US government tipped over the edge into insanity a long time ago, they will print, spend, and tax until the entire country falls into utter chaos and poverty.
readthepaper 2 years ago 2
@Mr. Sears:
That would do wonders for our current national debt, but not our unfunded entitlements currently valued at $1MM+ per non-retired household above the poverty line. Entitlements are much bigger of a problem than the debt, even at $13-15TT.
FrickinLaserBeam 2 years ago
I should have been more clear. What I meant, that if the FED was concerned about sound policy...the interest rate would be higher as if the market set it...but the pain would be immense after a while, especially after the bank bailout loans.
Gyrode 2 years ago
Schiff for Senate? How about Schiff for PRESIDENT?
Egocyde 2 years ago 2
Too dangerous. He wouldn't last an hour. Remember Kennedy? He wanted to break up the CIA, "into a thousand pieces". And remember Martin Luther King? He had a dream of equality. Remember Schiff talking about reigning in Wall Sreet??? Fuggetaboditt....
clarkewi 2 years ago
The message I got from President Obama's SOTU speech was:
Stop Government Intrusion and Corruption. O swung and missed cause Chris Matthews didn't report any leg chills or whatever.
I see Ron Paul is trying to audit the fed. The progressives saw Obamas first year as their best chance to takeover HC, the American people really stood up just in time! It's a realistic enormous uncharted prospect getting a real good look at the central bank right now. Hopefully it's fixable, might be ugly.
hellotommy 2 years ago
Audit the Fed or we'll all dead.
blastardinc 2 years ago
"we can't increase our exports"
Oh ye of little faith, I thought you were a free trader.
migkillertwo 2 years ago
This has been flagged as spam show
well I pay 120$ per semester total.. but I consider myself lucky not to live in the states. My mother in law studies in New York and is still paying back her student loans. How f... ridiculous
Phunker1 2 years ago
Comment removed
Phunker1 2 years ago
obummer = lies!
tweed187187 2 years ago
This guy hits the nail on the head. We need more people like him in the senate and congress. When you have idiots like Obama pushing for cap and trade when there is no threat of AGW, coupled with his BS healthcare program, which well over half the nation doesn't want. And he is willing to force it down our throats. What a dissaster. We have no money! Our idiot president needs to stop putting us in more debt, and reward corporations for building in the US, and not in China.
MrOTLChamp 2 years ago
Thanks, Pete. I love you, babe.
1962SatanTookOver2 2 years ago
Peter, you are the absolute bomb! But I think you are wrong about ahhbumma and his lack of understanding... I would suggest that he is completely aware of what is going on and is fufilling an agenda that would horrify people if they would only "listen" to what he is and has said. He knows exactly what he is doing, make no mistake about this. If you continue to provide him with the "get off the hook" card by saying he doesnt know, then he will suceed at carrying out his agenda. Make sense?
Ezekiel3839Psalms83 2 years ago
Just because you pay for your Tuition doesn't mean you are guaranteed a degree. You still have to do your studies and pass the class. In Fact, most employers look at your GPA before hiring. If its not good, you are not getting a Job. So, Peter is saying that degrees will be worthless, but while degrees are definitely losing value because of reasons he mentioned, you still need to pass the classes to get a degree.
longtrader782 2 years ago
studies have shown that government investment in education pays off in the long term...
for every dollar invested in education , 4 Dollars are generated...but hey who cares about that?
Public education is an entitlement program..let's be tough on crime & round up poor kids in the ghetto & send them ALL to jail for the rest of their lives...oh no it's not racist...we're just being "tough on crime"
LordCharlesBoustany 2 years ago
I'm listening to this guy Peter Schiff talk...I've actually heard a whole BUNCH times...I can't help but notice al of the WRONG things he's saying...
So, due to the advent of neoliberalsim with Reagan, the United States education system has been neglected for DECADES (cuts in spending that decimate our education system are considered "freedom" to the fiscal conservative)
So the president FINALLY proposes a solution & Schiff has problem with it & the reasons he gives are totally unfounded!
LordCharlesBoustany 2 years ago
You seems not to understand the basics here.Less tutions cost means affordable education.More and more people can study.If government gives more debts for education ,the colleges will keep increasing the cost.putting people in more debt.
omairzaman 2 years ago
it's all about gov takeover.they want to put their filthy dam hands on everything.if we are making money on something,you better believe they're going to want their cut.sounds just like the mafia huh?that's all they are.DONT TREAD ON ME!!!!!
tweed187187 2 years ago
Peter, ummm....when the regulations for banks are restored, does that mean the problems are all over? What is the next step to ensure prosperity remains in America? Do you think there is another step that should be taken? Yes, of course, take your time.....go call a friend - use your life line.
I´m betting he doesnt have a policy post-regulation and think thats all there needs to be done.
Rata4You 2 years ago
Dude, you're in the wrong forum. You're preaching to His choir, and half of them don't even know they're in a synagogue.
MMS747 2 years ago
Right on, well said.
I don't live in Connecticut so I can't vote but if I did you'd get my vote!
NotThat3 2 years ago
that's why his approval rating is higher than the percent pf people that got him elected.
sabikanani 2 years ago
I think one should decide for one's self whether a fulfilled life has been lived. I think the point of offering opportunities for college isn't to make workers feel bad, but to make college less elitist by making it more available. Speaking for myself, I like building and fixing things, but to get a decent job where I live are service jobs required getting a college degree.
postrealitysyndrome 2 years ago
tell'm Peter. And look at the billions we're spending here at home on all these fake 'big brother" homeland security bureaucracies. Acres of bullshit surveillance of Americans for Nada! I thought that's why we were going over seas to take the war to the terrorists? If we took it over their, why do we need it here? Total bullshit waste of huge taxpayer dollars. In the end, it won't do shit about terrorism because we invented the terrorist!! Obama, Bush, doesn't matter. Pick your flavor of shit
88oathkeeper 2 years ago
Schiff:Paul 2012!
If any of you detractors can expose a flaw in this man's logic, I would love to hear it. Defend your explanation like this man, and you will then deserve an audience. I'm not gonna hold my breath ... .
Schiff is economic genius. He makes too much sense. Cause and effect like no other.
Keep educating Peter. Thank you.
ChiefRocka01 2 years ago
15 minutes, a waste of my time listening this nonsense. Senators get to work with dignity and for the people.
mscoordinator 2 years ago
whats the old saying... Common Sense isn't common....I am always amazed at the stupity of average college students. Most of the kids I grew up with, had eighth grade catholic school education. They piss all over todays college graduates. No funds for public Ed. Hope schiff wins.
864first 2 years ago
That was Will Rogers: "Common sense ain't common." Which sounds a lot like Horace Greeley's "Common sense is very uncommon." However, Albert Einstein said: "Common sense is the collection of prejudices acquired by age eighteen." And some unknown wit stated: "Common sense is what tells us the Earth is flat and the Sun goes around it." I suspect the latter two were college kids.
M0N1ER 2 years ago
I'm tired of this Kenyan boy saying that he inherited 2 wars etc blah, blah, blah.
This scum is in the illuminati bloodline and most of the population knows what's going on and how the elite work. He's going to bankrupt the US and IMO set off a nuke and blame another country or some other type of event in order to impose martial law. Take your red, blue and yellow dots and shove 'em up your ass! They want to take on the American people and they can't even control gangs in Haiti! Obama is a POS!
havoctrend 2 years ago
Gotta agree with blackOP. The left-right paradigm means nothing anymore. A neo-con is no less left than a union bought liberal is right. They both advocate the use of force to impose on others whatever subjective values they hold dearest.
And yes, Teddy had imperialist inclinations. Both parties have equally had them at various points in their history.
StilesBC 2 years ago 3
How the elite control politics
/watch?v=fTahZE4q90U
havoctrend 2 years ago
I think Peter was right on its time to focus on slashing regulations and creating new laws to wipe out all these old laws that no longer help America, Americans and our economy. It really should be a political movement to de-construct these destructive laws and regulations that are harming us on all government levels local, state and natonal.We need to reduce government and the laws that have tied our hands instead we have had two parties who argue how fast to GROW the government this is WRONG.
goldsilverandiamonds 2 years ago
Peter is right. Hopefully Connecticut will open their eyes and vote for this man.
jamesbutabi 2 years ago
PROPS
m1kkel2 2 years ago
Good points Peter.
I fear you are right.
IWashMyOwnBrain 2 years ago
Excellent analysis of Obama's scripted speech on the pathetic State of the Union. A revolution is coming ... one way or another ... ;)
tpreitzel 2 years ago
Peter Schiff was right!....AGAIN!
Mattboy2388 2 years ago
IWashMyOwnBrain 2 years ago
@postrealitysyndrome: You don't need to waste a semester, many hours, and a great deal of taxpayer money learning philosophy. You can learn it in a book.
Speaking from the point of view of one who has just finished college, I can state pretty plainly that I absolutely hated all of the mandatory classes they made me took which had no relevance to my programming degree.
They make me take 'humanities' classes and 'ethics' classes. As if I couldn't learn that stuff on my own.
AnduinX 2 years ago
If government would just enforce contracts between mutually-consenting parties, we wouldn't be in such a mess. Instead, our goverment rewards the incompetent fraudsters by picking people like Tim Geithner for treasury secretary and Ben Bernanke was just reconfirmed for Federal Reserve Chairman. We keep looking to the same idiots for advice on how to fix the problem.
"Insanity: trying the same thing over and over and expecting different results." Albert Einstein
LastStandforLiberty 2 years ago
Peter Schiff makes sense for Connecticut.
If I were registered to vote in Connecticut I'd vote for Peter. 99 moron senators 1 smart (Schiff) senator.
jibbi4one 2 years ago
Has Schiff commented on the "Hayek VS Keynes" music video?
ErikNikolai 2 years ago
progressives believe in BIG Government!!!
They believe government can solve all our problems; even though history has shown them to be wrong.
Obama is an idealist progressive, an emanate political speaker who wants more taxes, bigger government and hates the "dumb" people. "dont get in my way" is what Obama said.
ILIADsOdyssey 2 years ago
Get your passport and get out of America, as fast as you can! No need to go down with the ship. America is finished!
freedomfighterone 2 years ago
After the supreme court decision to allow foreign countries buy our representatives, should we still be worried about giving money to an election fund; I mean it really depends on if the corporations find it in their best interest to elect you at this point, doesn't it?
michahsimmons 2 years ago
Read the ruling. Foreign companies still can't fund contributions to politicians. Unless you're a Clinton or AIPAC.
mickeysears 2 years ago 3
Okay then, domestic companies owned by foreign investors... Still the same result, right? I'm not saying that officials aren't ALREADY mostly bought and payed for, but it seems impractical to hold out hope for any form of democracy to squeeze through at this point (Causes me to reminisce about "defending against enemies, foreign and domestic" back when I was in the Navy). Seems like we no longer have the tools to do so to me.
michahsimmons 2 years ago
Single most valuable comment:
"...homes are not investments, they are....homes"
Janlaxle 2 years ago 2
Obama has failed, why can you sheeple not accept it?
4theConstitution 2 years ago 2