Market Seer Peter Schiff, on the U.S. Becoming an "Economic Wasteland"

Peter Schiff, president of the brokerage firm Euro Pacific Capital, has become famous as the man who accurately predicted the housing and financial collapses of 2008. Now he wants to become famous for being the Ron Paul-type outsider (complete with moneybombs!) who unseats longtime Connecticut Sen. Christopher Dodd.

http://www.europac.net/
http://www.schiffathon.com/

Schiff, co-author of the forthcoming Crash Proof 2.0: How to Profit From the Economic Collapse, is among the most prominent adherents to the Austrian School of economics, with its emphasis on sound money and limited government. In this Reason.tv interview with Reason Editor in Chief Matt Welch, shot at FreedomFest in Las Vegas just days after Schiff announced the formation of his exploratory committee, the potential politician warns that the U.S. is headed toward Zimbabwe-like hyperinflation unless Washington changes course.

http://www.amazon.com/exec/obidos/ASIN/047047453X/reasonmagazineA/
http://www.freedomfest.com/home.htm
http://www.schiffforsenate.com/

Approximately 5 minutes. Shot and edited by Dan Hayes.

Scroll down for embed code, iPod, HD, and audio versions.

Category:

News & Politics

Tags:

• peter schiff
• ron paul
• matt welch
• reason.tv
• reasontv
• recession
• depression
• economic wasteland
• chris dodd

[louiethegreater]

And, you are so obsessed with making a buck that you cannot see clearly. The politics of Globalism is the villain here not economics, the political process encouraged multinatonals to move offshore. Globalist have infiltrated Washington for 60 years, finally they have filled every sector of power and media with the global ideology. If you cannot see that you are straining at a gnat and swallowing a camel. If you are from Poland you have the same problems, because of globalism.

[HollySteinberg]

The "stimulus" is a sham

[patriotofliberty1776]

No the United States believes in moronic ideas like American exceptionalism, and think that we can be exceptionally exempt from the consequences for spendthrift policies.

[patriotofliberty1776]

Fucken politicians fucked my generation over. FUCK ALL OF THEM. FUCKEN KLEPTOCRATS. 43% of the GDP in the United States is public sector as of 2009 and we wonder why they're not enough private sector opportunities? The average federal employee is allotted $115,000+ when all of his benefits are accounted for. Self-entitled assholes.

[louiethegreater]

@gotama420 The conjecture was wrong, gotyama. The internal combustion engine has been here a 100 years and we still have our slaves. The only difference is they are paid wages now.

[louiethegreater]

Actually Luvcreole, if Lincoln would have had todays mentality of labor raising cost, the world never have freed the slaves. His rationale would have been: If we have to pay those slaves a living wage, the cost of products will go up, therefore we cannot free the slaves. That is the same attitude free traders have, they would rather see 1in5 americans unemployed and save a few bucks on big screen T.V. than provide jobs for their countrymen.

[louiethegreater]

@Luvcreole, I agree, about the unions, but they are, and always have been a necessary evil.

[Luvcreole]

@Arjozof Besides, outsourcing = cheaper consumer goods for Americans, so it's not all bad: Except when people's incomes are so low now, we can't afford to buy all the things these companies were relying on for more profits without the easy credit. We now see what we can really afford, and now the companies want bailouts rather than let capitalism smack them upside the head for their excesses. Just what Peter says.

[Luvcreole]

@Arjozof You don't understand American and British history of slavery and outsourcing. It was because of these colonialistic and corrupted version of capitalism and debt system that drove our Founders away from Britain in 1776, but they never looked at themselves and how they did the same...starting with slavery. Today is the end result. (There is a reason why America and Britain occupy the top two..or bottom two..spots in every part of this economic mess.)