Peter Schiff - Dec 6 - CNN Your Money - Part 2
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Uploaded by liberalbias100 on Dec 9, 2008
Dec 6 - Peter states that many of the jobs we are losing now should not have ever been created. He goes on to insist that America needs to start creating wealth through production and saving.
Peter is correct in stating that the Government doesn't have the money it's using to bailout out various industries, they are essentially printing money out of thin air.
Part 2 of 2
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That is "World is Flat" Globalism theory that Peter Schiff does not seem to understand.
That theory is that the production of less sophitisticated products will flow to the Cheap Labor countries as the advanced countries like the US dominate the technically sophitisticated product scale to maintain their comparative advantage.
The problem is that Obama voters are too stupid to be productive making techincally sophisticated products.
Only 30% of the US population are college educated.
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Not all is lost yet. Competition with China is still possible. Of course you are right about the fact that the US will not be able to compete with China thru cheap labor. What the US can do is focus on quality goods.
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The truth is that the U.S. is in such a deep hole, even if they did begin to rebuild their manufacturing base many companies will still eye China because of cheaper labor, less regulation/environmental controls, all the expenditure savers that a wise company looks for. The U.S. cannot compete with China, it's too late in the game.
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As for Production being the Answer, Peter, what about the Chinese?
The Chinese can produce everything that the world needs with cheap labor costs that the US can't match.
How to we produce things in competition with the Chinese and their cheap labor?
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"with what money?"
lol
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They believe in profit & growth at any & all cost, without ethical/moral concern for any other human beings let alone their 'country'. These huge, multinational corps care not about 'country'. They will try to sell you 'patriotism' if they think it'll make them $, but could care less about USA or Poland. I agree socialism/communism is bad but so is unadulterated greed. You need a balance. The 'people' have to have some control. Right now, it's 'of, by, & for the Corporation' & it's killing us.
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'Free Market' Capitalism here, has been mistaken for Fascism. You cannot allow companies to grow so large that for them to fail, would destroy you country as well. Also know that no major industry in the US grew on it's own volition. ALL had MAJOR support from gov't. Rail, Coal, Steel, Auto, Banking, Agriculture, you name it. They ALL use gov't to their advantage & have bought & paid for the best Democracy on the planet. In other words, they do not believe in free/fair markets.
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I'm not arguing for socialism per se. What I'm saying is, the gov't needs to become more pro-industry & less pro-bank. The US has adopted trade/tax policies over the last 30 yrs that actually ENCOURAGES companies to move offshore & consolidate. What we're left with now are companies that are 'too big to fail' & debt. In other words, there is no 'free market'. Corporations have taken over gov't & used it to stifle innovation, competition & FAIR trade/wage/tax policies.
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FattKidd, I live in Poland, Europe. It was communist country. The state provide almost all jobs. Of course, you would say that we shouldn't touch anything, don't privatize, because millions of people will lost their jobs.
Yet, we have now most of people in private sector and much better economy than 20 years ago.
Believe me, free market DOES WORK. Socialism does not.
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Can we have an interview with Peter Schiff minus the idiots?
FGTBOGSAT 3 years ago 14
CNN and CNBC treat Peter Schiff like dirt. Peter Schiff has great insight on this economic depression -- let him talk!!!!!!
FGTBOGSAT 3 years ago 4