Debt Ceiling Theatrics, U.S. Economy Back in Recession

Peter Schiff talks about the debt ceiling theatrics in the US and how the real economic crisis is coming later

Category:

News & Politics

Tags:

• economy
• peter
• schiff
• obama
• deficit
• debt
• ceiling
• crisis
• recession
• depression
• freedom

[82snowball]

Peter, I think you are wrong.

[runarolsen]

@82snowball - Well dude, that´s just like your opinion man! ;)

[TheSteve4200]

@82snowball.... Look, noboadys right all the time.. I do take Peters words to heart cause like Ron Paul, hes right more then most of the time. No man is right ALL the time. Nor should you ever agree with someone 100% of the time unless you are a Robot. But Peter is on point. Very accurate, he will say things others wont.

[runarolsen]

@82snowball - So post it on your channel then so we can have a look

[82snowball]

@runarolsen I have sound bite where schiff is talking up a few tech names (which have since gone bust) and saying at the same time he is going to short the stock of berkshire.

[runarolsen]

@82snowball - You really have no idea what you are talking about buddy. Peter Schiff did not promote tech stocks. He was on the contrary telling people to not invest in those because they were a bubble.

[82snowball]

@doomz78 Did you follow this guy during the tech bubble, He's always right until the bubble bursts. XD.

[Affar2k]

Damn, this is like watching a horror movie

[ExtraTerrestrials]

@bamnibaum back then, you were too young to analyze the real situation. right now you are too old to analyze it too. good luck with your wish. just wait for 2012 to see how your country will make it

[bamnibaum]

In 1976 ibought a home, got a mortgage and it was at 9%. My creditcard interest was pretty close to 22% these at the time were the going rates. Jobs were few and far inbetween, gasoline was in short supply, and the U.S. was suffering from a deep recession and inflation was eating up the value of the dollar. Guess what? The United States of America survived, were still here! This is something that is not new. All these people make it look like the end. We will make it! U.S.A.

[7shami]

china with their dollar reserve and saudi with petro dollar is deciding power...

[pentupentropy]

nah. we'll be fine. the risky derivatives market is only at about 248 trillion (twice what it was when we had the bailout and stimulus packages). So we just need to keep printing more money out of thin air. Zimbabwe did OK with it, right?