Dr. Doom - Peter Schiff

http://www.cbc.ca/thehour

Peter Schiff, aka Dr Doom predicted the collapse of the global economy and housing market. He's on The Hour to talk about the recession, depression, and more...

Category:

News & Politics

Tags:

• Dr.
• Doom
• The
• hour
• with
• George
• Stroumboulopoulos
• Economy
• Peter
• Schiff
• Recession
• Depression

[ToasterPig]

I am not a financially or economically minded person.

The recession is one of those things where I have just sort of understood the problem but not really.

This video explained it in a way that I could understand.

[Anothercoilgun]

I hate the entire notion of tapping into your home for money. What a stupid idiotic fucking joke.

[manoman0]

remember "cash for clunkers"? destroying well working, mostly paid off cars to get into new debts....lol

[Linguiphile]

When I first moved to Japan, I was surprised to see that even young Japanese save a lot of their incomes. Several of my friends in their mid twenties had savings of $40,000 ~ $60,000 each. And credit cards and personal cheques were known but rarely seen or used.

[surfer53]

What Bush and Obama are doing is a bigger sell in Canada because at least SOME Americans will wake up and have fiscal sanity. Canadians are too entitled. We've grown up believing that the rich are to blame for all our problems and any "solution" has to include punishing them to supposedly benefit us.

[defendtherepublicNOW]

What he says will never work because it uses common sense and there seems to be none....

[Anothercoilgun]

Where are all those tons of "Refinance your home" now!!! commercials. Hahaha.. people let companies screw them over.

[velvetfog]

Sleep is healthy and fun. Try counting sheep instead of shearing them.

[jammer9119]

Totally agree with this guy. The whole idea of a restructure seems scary, jobs will be massacred and thriving in uncertainty, but it has to be done.

[Aegan15]

dude power in numbers. instead of letting your ego take over, use that passion- the passion I know you have -to wake people up!

[uncamilty]

I think that what he is saying is, we have maxed out our credit cards, and we do not make enough money to pay them off. So we apply for more credit cards and continue to spend. Since we can continue to spend, we assume that everything is fine.

But at some point, we can no longer get any more credit, and we have a massive debt that we cannot pay for.