1/8/2009 Peter Schiff On CNN Newsroom: Bull, Bear & Obama's Plan

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[jesuslover037]

This guy is teaching college students? No wonder our economy is collapsing.

[jobedied]

What I do not understand is if we are trillions in the hole. How will printing trillions and giving it to the same folks who lost it in the first place help us. Will building more houses help us the only thing we make is houses and cars. Will building 5 or 10 million more houses in the next 10 years lending more mortgage money solve our problems. The definition of insanity is doing the same thing over and over and expecting a different result. Are financial experts really from this planet?

[utmost11]

This is scary, Wharton is one of the TOP business schools in the US and this "professor" is totally clueless!!!!! The worst ideas come from the ivy league

[GreaselessAnkle]

lol @ that guy being a professor at a university hahahah.

[bajoverga]

Goddamned Schiff is so money.

[bodizone1]

americans dont need to be building ANY houses right now, or buying cars they cannot afford. the private sector should not be interfered with by government, printing money is a FALSE economy, and its getting worse!!! Obama the Disaster hasnt created any real jobs, the unemployment rate is still above 9.5%!!!, yet they spend trillions, figure that one out (?) NOT money well spent. Good luck, asian and indian economies will still truck ahead at 9-10% growth every year.

[aviomaster]

Production + Savings = power ....

[Realitycleans]

This Professor should not be in the teaching profession...my God it's pretty pathetic

[Yelena335]

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[easygoldmoneyfast]

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[paganpg]

Secondly, the asian economies are not a wreck. They have both savings and production. Their only problem is that they have hoarded worthless dollars, and are about to realize the loss. However that is not a real cost. The cost occured when they gave stuff away for free (or for worthless dollars), once they stop doing that and starts consuming their stuff themselves, their standard of living will increase.

[paganpg]

First off, the trade deficit can NOT go on for ever. You do not export for the sake of exporting. The reason you export is to get go import other stuff. Exporting withouth importing equals giving stuff away. Importing withouth exporting equals getting stuff for free. Over time imports must match exports.

To stop the trade deficit you must either import less or export more. If you want any stuff you better start making them.