Peter Schiff is a Moral Hazard

You are probably thinking that it would make sense with a full reserve system than I refer you to my previous vid. It's all about balance.

http://www.nysun.com/business/ex-sec-official-blames-agency-for-blow-up/86130/

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• deflation
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[tonybonez]

put the bong down----

ugghhh systemic risk, socialism rocks===did i mention systemic risk

[dsglop]

@tonybonez Poor little guy. You actually think making stupid comments like this is relevant in some way. Well, you're right. It is relevant to the fact that you are a simpleton who has this free market capitalism vs. socialism mind set. Your tiny brain is incapable of understanding all the nuance in between.

[707hoser]

You're probably right that the US govt. couldn't let all these companies go down the crapper but it sure leaves a bad taste in the mouth. The same thieving bastards who did all this stuff are the ones receiving all this bailout money.

[dsglop]

I agree. It was distastefull. But it's better than a deflationary spiral.

[idigl7220]

Another great video.

Don't you find it shocking that all these brain dead idiots who took the time to teach themselves the nuances of austrian economics can't notice the simple facts that Schiff's predictions are way off? There is no hyperinflation, europe is doing worse in this recession than us (despite their higher savings rate and lower debt to GDP ratio), the price of metals are dropping, etc, etc

And they call us sheeple

[dsglop]

Thanks.

I do find it odd how they worship this guy. Oh well, if they want to throw their money away investing their money with him then they will get what they deserve for thinking some guy with a folksy way of talking who was vaguely right on one issue but wrong in every other way is the greatest economist of all time.

[dsglop]

It was a combination of many factors.

[rflosi]

So, it was the insurances companies? The collective security? The voluntary socialism? Statism? Control? Force? Collectivism? All of the above? None of the above?

[dsglop]

When I said highly educated I didn't just mean what school they went to. And I guess you missed the part of the vid where I said that some regulation is good and some is bad. Also, this was a private insuranse scheme.

[pixelsmart]

Hi dsglop,

I read some of your below comments. One jumped out at me. The one about the Fed hiring 'highly educated' economists. Well, their economic philosophy is more important than the pedigree of their education. The best and the highest of an education in economics will give you worse results if they are of the wrong philisophical school.