Peter Schiff on CNN: China More Capitalist Than America

Peter Schiff on how China is more free market and a better place to start a business than America.

• Category

  News & Politics

[PenguinProseMedia]

Just uploaded Bernanke's Press Briefing, the full 50 min. Check it out....

[Will Hayes]

humm...now they're listening to Schiff?

[zealot8964]

China uses a mentality of "Make money, make friends" diplomacy towards other country such as Iraq, iran and some west africa countries. They invest and create jobs in those countries in exchange of natural resource. They gave them wealth instead of warfare. US is doing the opposite, and that's why they got nothing in return.

[marvincontendo]

LOL

[jh30385]

No warfare? That's also why the Darfur genocide was able to go on with no one giving a S#!T. That's why North Korea can still maintain a system of nazi-like concentration camps.

[mutualpea]

This guy's a preacher in the Free Market Church of Milton the Liberator. Their mantra: "Keeping capitalism on a leash led us to where we are, and to fix it we need to turn cut the capitalists loose and let them feed freely" -- echoes and resounds throughout the mainstream media. But it's a fantasy. In fact, it flips reality onto its head. In the last 30 years, capitalists have been given ever more leash, more freedom to feed on the weak, leading to 2008 when capitalist dogs ate each other.

[Steven Kippel]

WTF? China does buy Chinese products.

[Alec Galambos]

Is this.. smart journalism done by CNN? I... don't..

[MrWrof]

The chinese government is subsidizing steel, coal, oil, concrete, electricity etc. to help their economy grow. They already have MILLIONS of unsellable houses and apartments, empty office spaces and empty stores because they focus on economic growth. They are building a bubble, and bubbles burst. If they take America with them or not, I don't know.

[kRudAres]

Peter Schiff is a right wing hack who simply loves the fact that organized labor and environmental regulations are non existent in China and workers are super exploited which makes business more profitable for capitalists. There's no free market in China. There has never been a free market anywhere. The state has always been involved in the capitalist system. "Free market" capitalism is a myth. An impossible myth that cannot exist as capitalism necessitates a strong state to function.

[Mannypacquia0]

lol i hope your joking. 

[neosoc]

Whoever said anything about workers' rights? Capitalism is about making money, not building some Austrian School pipedream utopia. Any real capitalist will tell you that. They may bitch about government corruption in the 3d World, but it's all an act: they do business there BECAUSE the corruption makes it so much easier.

[4485lolo]

Beautifully said!