1/10/2006- Ron Paul Advisor Peter Schiff On Morning Call

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[mrzack888]

Man, If I knew about Peter Schiff 5 years ago, I would've taken a HUGE equity out of my parent's house and bought Gold and Silver, and I'd be retired by now.

[bschinzel]

Look at the numbers in this video

Dollar index - 89

Euro/USD - 1.2066

australian dollar - .7494

how anyone discounts this guy anymore...i have no idea

[fuckoff187]

@mrzack888 no you wouldnt bc schiff was considered a radical

[strongbadassman]

how is China overproducing when 90% of their consumer market are being suppressed?

[wholelottabon]

mets48853: "THis NAU will make americas current account deficit dissapear. "

that wont be the ony thing to disappear under the NAU...you can also expect to see the Bill of Rights formally thrown away...and you can expect to see the deficits return eventually

[mets48853]

Go take a look at the shanghai stock exchange chart. The index was trading at

6,000 only 8 months ago. Yesterday it

closed at 2,703.

Thats one hell of a collapse. And what the chart tells me is that if the US goes down the Chinese wont be far behind.

But go to stock charts . com and type in the symbol $SSEC.

THE CHART SAYS IT ALL!

[mets48853]

that japan experienced. Did you happen to notice the little bubble taking place in the chinese stock market???

Besides the chinese banks are basically insolvent. These double digit loans wont be repayed.

And POP there goes the great china bubble.

[mets48853]

The china japan comparison is very simple. Japan's exporting economy overproduced, which led to overinvestment and overcapacity in their economy. This money moved into the banking system which caused huge Asset bubbles. Look at the real estate and stock bubbles that took place there. But like all bubbles they soon deflate and what japan had left was falling prices(deflation). They refer to this as the lost decade.

China is currently experiencing the same bubbles

[picapauengracado]

By the way, I wonder if the minimum wage thing is something advocated by that Duncan guy. I understand that common Joe thinks that a wage is priced at the biological needs of the employees and the rest is employer's generosity. But an economist should understand how vile it is to destroy jobs because the price of labor ends up under the forbidden level. I guess that explains why there is not even a wikipedia entry for the guy or his book...

[picapauengracado]

Their tax burden is 45% on individuals and 33% on corporations, plus sales and all that stuff, which is still on par with a lot of so called capitalist countries. A stronger currency also means cheap coal, oil and other resources, so they can leverage some of those handicaps with cheap energy and so on.

[picapauengracado]

You lost me after you start comparing China to Japan, but I guess what you're saying is that because mainland China investments are done through companies which are either state or party members owned that they won't have the flexibility to a shift at all, even if gradual. I think you are ignoring there are a lot of Chinese entrepreneurs nowadays and people are saving there, so restrictions on foreign investment.

[mets48853]

have no labor representation as well as horrible working conditions. This has to be addressed with either a global minimum wage which will bring jobs back to the US or through a NAU which will combine the exporting power of Mexico and Canada and the US. THis NAU will make americas current account deficit dissapear.