Peter Schiff - New Canaan Rotary Club - P4

Peter Schiff introduces himself to the New Canaan, CT Rotary Club on 3-4-10.
www.SchiffForSenate.com

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[italiankid1986]

Glad to see Peter stick with his guns on that question instead of giving some phony answer just to appease the crowd. I think more people will appreciate that he is an honest man, rather than a phony just preaching to get elected.

[limitedgovt999]

Part 4 was some of the best I've heard from Peter. He brilliantly exposed the fallacy that we have to bailout auto companies and banks. I have to believe everyone in that room will be voting for him.

[geewhzz]

love the Q&A sessions on these vids. Pete kills it and I loved his answer on why not to bailout firms.

[christo930]

War is highly inflationary because it dumps billions of dollars into the economy with no products/services to absorb the money. Every war in American history, including the cold war, were highly inflationary. Medical and higher education is not a general inflation, but puts upward price pressures on specific things (medical and education), whereas war raises the price of everything.

[Syphalis1]

Social spending is the reason we have high medical costs. If there was limited government spending and interference, prices would drop dramatically (like with any other technology based industry). Also with education. The government subsidizes student loans which means universities have to do less to compete and control costs, thus the cost of education continues to skyrocket.

We definitely spend to much on the military, which leads to greater deficits, but no direct inflation. Pricier guns?

[christo930]

Social spending is no where near inflationary as war and military spending. If you look at our history, the most inflationary times were during wars. Look at ww2, everyone had a job, but there was nothing to buy and prices went up and they would have come back down had the military been dismantled like they had been after other wars. Huge amounts of money are spent producing hardware that is meant to be blown up or used exclusively by the military. No production to soak up the extra money.

[spyletu]

hmm i do take the larger point that foreign operations need to be cut, but social spending cut isn't a bad thing because spending inflates the prices. if they stop the medicare program so young people get reduced taxes and richer senior citizens don't get to collect several times they put in it'll actually lower medical cost. and also lower the mandates on schools/student loans, that will lower the cost as well.

[Koutetsu]

Great job Peter.

[KeanOOO]

That was really excellent. Thanks again CTSS....

[Sivels]

One of the best speeches by Schiff so far, I learn a lot about economics listening to him.

[AngriestAmerican]

I live in RI, and I found this ball with a question on it and it says "How the hell are you going to be elected with a message like that?"

I didn't know what the heck it was,,until I watched this Video...to the goofball who asked the question,, Do you want your ball back? Cause Peter knocked it out of the park..

Do you think your useless snickering from you and your spoiled wife will ever change the truth? I bet you are a postal worker or something,,,

[christo930]

My only problem with schiff is I think we are going to get the bad without the good. Like, we will get tax breaks for corporations, but no rebuking of regulations that keep the jobs out of America. The spending cuts will be social instead of millitary, corp welfare, foreign aid, subsidies... We will screw the seniors and poor, but keep blowing money everywhere else. His message only works if it's done completely and he will NEVER get everything.