Peter Schiff - East Windsor P1

Peter Schiff introduces himself to the East Windsor Republican Town Committe on 3-8-10.
www.SchiffForSenate.com

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[seanannapolis]

To be clear, all that was needed was a RECESSION - not a DEPRESSION - in 1929-1930 to rid us of the malinvestment and misallocation of resources of the preceding years (like what worked in 1920-1921 with Harding).

The roaring 20's were caused by, as you've stated, inflatonary policies of the FED. Hoover then employed interventionist policies, to include hugely increased govt spending and stimulus from 1929-1932. FDR then took the baton and turned a recession into a 15-year depression.

[LisaJ4Liberty]

Peter tells it like it is, and does so superbly.

[at1212b]

I'll definitely say, its far easier to listen to Peter, makes far more sense than the other candidates.

Hopefully he is rewarded for this and recognized.

[Tasadaru]

Wait, Stop! Did he just say that 4 trillion dollars that we owe is due next year? If that is true we are freakin' screwed. I wonder if China will be dumb enough to actually support the debt again.

[dan0813]

What happen in 1920/1 was a depression. Depressions don't have to last a long time.

[gold95]

I don't agree with everything he said, but over all he was a great asset in opposition to keynesian philosophy.

[dan0813]

Friedman blamed the fed....but for the wrong reasons. If the asset bubbles had not been caused in the 1920's by the fed, the depression would of never happened.

Yet Friedman focused on the Fed being too tight in the 1930's as the cause of the depression. Think about it. Friedman just died recently, did he ever speak out against Allen Greenspan and the massive bubbles he let get out of hand?

[ParapaDrifter]

He's a man of the times. Lets hope he can teach old dogs new tricks

[gold95]

What does that have to do with Friedman? He blamed the FED.

[dan0813]

If you read about Herbert Hoover's life, he was anything but a " do nothing" politician.

He was the real father of the "New Deal".

He didn't veto the smoot-harley tariff, he went to employers and asked them to keep salaries at inflated levels, and tried to artifically support farm prices. People from Roosevelt's administration admitted that Roosevelt go a lot of his ideas from Hoover.