Debt Ceiling Theatrics, U.S. Economy Back in Recession

Schiff Report Video Blog July 30th 2011
Note: Just I a forecast in this video, on August 2nd Congress passed & Obama signed an increase in the debt ceiling with no real reductions in spending. The Dow dropped 265 points and gold surged $40 per ounce to a new all-time record high! The markets have spoken and the sound is deafening.

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[absintheyr]

@MrBooboo212 I suppose the US goverment wastes quite abit money on war, and imo have many of their priorities wrong. But should also take into consideration how rich the american people are compared to most other contries. Pretty much every singel other country.

Here I have to pay around 3000 $ to get my car license, how much do I have to pay if I lived in the US? 30 $ is it?

[RonnieNolanRaharjo]

The US is mortgaging their future to preserve the present status quo. Not going to end well.

[tommytoo1]

@tommytoo1 if you look at the 900 B annual on the wars, been going on right around 10 years, geez thats well over half of our national debt! although the debt thing is hardly new, last president to sit in office with no debt was andrew jackson

[tommytoo1]

@MrBooboo212 12M a day would be a blessing, it more like 900 billion annually, thats a whole lot more than 12M a day, but your point is right on spot. both parties suck. money is being sucked right out of our country.gotta love the analogy of regulations making our jobs going abroad, just how many epa regulations affect credit card call centers? real reasons our jobs are going overseas is the cost of labor.

[nafaidni]

The markets have spoken that cutting spending is going to destroy economic growth...

Companies don't give a shit about the debt ceiling increasing. They care about things that matter at the moment, such as tax credits, unemployment benefits, grants, and other government economic policies.

People like this dumbass who believe companies are afraid their children will have to pay their debts and that's what causes the negative response need to go to college.

[MoltenMozzarella]

no president or leader can stop this crap, only the people can. It's up to everybody to fix your own problems, quit living beyond your means. Italy will be the first country to make things happen, watch and you will see. Italy begins to roll from the back of the pack. Good luck all, we are not waiting for someone to save us, WE are going to do it ourselves.

[GasStationChili]

America says, "we are the greatest country on earth." To me that's showing arrogance and saying that we are better than everybody when we are all supposed to be equal. Now it's starting to catch up to us.

[Laughingblades]

@itachi705 Yes it did.

Wait which Golden Age?

[itachi705]

@Laughingblades The U.S. didn't even have an income tax during its golden age.

[davetista]

How about STOPPING THE FUCKIN' WARS?!!!! That's including the "War on Drugs".