Peter Schiff Embarrasses Himself By Defaming Brilliant Economist Paul Krugman

Self explanatory video.

Category:

Comedy

Tags:

• Peter
• Schiff
• Ireland
• austerity
• Sarah
• Palin
• gold
• warren
• buffett
• jim
• rogers
• marc
• faber
• nouriel
• roubini
• paul
• krugman
• goldman
• sachs
• banks
• bailouts
• economy
• berkshire
• hathaway
• lloyd
• blankfein
• business
• stocks
• bonds
• investments
• austrian
• economics
• mises
• rothbard
• keynes
• friedman
• keynesian
• monetarist
• vat
• tax
• taxes
• sales
• value-added
• inflation
• default
• money
• printing
• loose
• recession
• hyper-inflation
• sovereign
• debt
• crisis
• currency
• dollar
• euro
• CNBC
• fox
• news
• Russia
• today
• RT
• Bloomberg
• reuters

[zenmachinefilms]

What's the song at the end?

[SchittReport]

@zenmachinefilms

according to our analyst, he pulled it from an album called "hed kandi serve chilled".

[heckler73]

I like how Pete stammers when he speaks.

"The Bush Error"... "BUTCH's Tax cuts".

He also neglected to actually back up anything he says in regards to how Austrians and Free-Marketeers correctly predicted everything (a priori?)

I guess this means no Nobel Prize for Pete with regards to his "Kurgman iz Zombi" Thesis?

How long can Pete go on, do you think, before either:

1)capitulating to facts or

2)folding up shop

I suspect he may be too stubborn to admit his errors, ergo #2 is likely. 

[SchittReport]

@heckler73

please see schiff's comments on the "category 5 imbecile" post :)

[VassiliZaitsev12]

Interesting! I was not aware that Paul Krugman was aware of the housing bubble before it happened, and I did not know that he wanted to do something about it. Now, I can point back to prior to the 2008 bubble and tell the popular media kids that talk about Austrian economics and how it is the only form of economics that saw the bubble coming.

[slurpeeday]

It's weird that Schiff's gotten to where he is without being passing a macro class. I don't get how he can talk this much nonsense without reading what others say on the subject. I suspect it's a cult of personality just like Ron Paul.

[Antiks72]

I love how Schiff ignores Alan Greenspan.

[fava655]

besides being extremely stupid, this schiff guy is full of shit. the financial bubbles are due to financial deregulation which allowed excessive and irresponsible speculation. you can thank reagan for starting that in the 80's, and financial lobbyists for pursuing it...

[soundmoneyfan]

haha, he said, "bubblelicious"....that's awesome

[TheSnakeTheory]

I have to say, I love your username! I laugh everytime I see it!

[gwangjuboy1]

@AdversusHaereses He misses the biggest problem of all. After the GLB Act the bankers on Wall Street earned billions of dollars in commission selling worthless private label mortgage-backed securities and they never broke a single regulation doing so. That's why they get to keep the cash. Paulsen's buddies. The GSE lending standards were higher than the private market, enabling private bankers to tap into the subprime market. Shiff is either lying or embarrassingly misinformed.

[DavidByrne85]

Schiff is a goofy imbecile

[MrGiggity890]

@SchittReport does anybody here think the US economy is in good shape? i'm curious to hear some opinions and whatnot

[AdversusHaereses]

Two things Schiff is ignoring:

1) The Nasdaq bubble was not the same as the US GDP, nor was it very influential to real economic growth.

2) The Nasdaq bubble only burst thanks to the financial deregulation of the Clinton administration by repealing the Glass-Steagal act and passing the Gramm-Leach-Bliley act.

Ironically Peter Schiff supports deregulation so he would have supported the bill that eventually led to this Nasdaq bubble. But in no way was it the end of the US economy!