The Next Depression?

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With markets in free fall, economist Peter Schiff opposes stimulus and printing money to fund it

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News & Politics

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• schiff

[FGTBOGSAT]

Peter Schiff manages over one billion dollars for his clients. He is the most accurate of the markets oracles.

[paul8kangas]

What Obama is doing by giving the corporation $ billions, will make this Depression worse. Giving Israel $ billion ditto. Sending troops to the Afghan war will push the US economy over the edge. We are heading towards the worst CRASH in history. This will totally wreck capitalism and bring on a socialist revolution. As does Peter Schiff. Get out of the major cities. They are going to become violent hell holes like Oakland.

[AllPro777]

@paul8kangas

Sadly, much of what you said 3 years ago has either happening now or on the brink of happening. What the hell are we going to do.

[OpionatedOldMan]

We Borrow HUGE sums of money from China and turn around and loan it back to the rest of the world and they still hate us...

[vesperus1981]

This is so 00's

[STPdemon]

Talk about fear mongering...We need look no further than Europe (Greece, England) to see what out-of-control Government spending will do. Look, Reagan inherited almost a big a mess from Carter and turned it around by doing the direct opposite of what Obama is doing. Bill Clinton would've been a one term failure had he not had Conservatives in Congress and some good advisors (which Obama doesn't have) urging him to stop spending.

[WHollabaugh]

Nobody needs to be purged, fool.

The planet could easily handle fifty times the populous without destroying the environment if you just managed yourselves intelligently. Transportation could be pollution free right now, farms could be automated and stacked in towers creating enough to feed the world right now, technology today could illuminate 99.9% of the labor force right now, energy could be free to the world right now.

But there's no profit in these things, so we're all going to die instead.

[WHollabaugh]

It is greed that rules and needs that go unmet today.

The vast majority of countries that we purchase raw materials from are in poverty because of us. We send in a salesman to negotiate a deal on the goods and the result is that we buy every natural resource at criminally low prices. Like when we traded the Native Americans cigars for their land.

Now entire countries starve while the leisurely rich take their resources and 1 American employee and mass manufacture plastic cars.

[Daka12s]

@WHollabaugh no thats not true not all people are lazy this is why i didnt respond to that you cant purge 1 person just because 10 do what shouldnt be done and plus one person can change the minds of mliions what can say though people are extremely stupid and sheep like

no correction they are sheep

[WHollabaugh]

Do you not know how to read? My assertion that the monetary system needs to be replaced by a more advanced method of bookkeeping could easily be restated as "Capitolism is ruining everything of true value in the world and needs to go away."

People are lazy though, sorry, but it's just a sociological fact that people are naturally prone to laziness. Our tendency to purchase useless crap is because of marketing and the billions that have spent to find out what will make you buy a product.

[Daka12s]

@WHollabaugh let me quote one of my favorite band flux of a pink indian

"theres all for our need but not our greed"

[Daka12s]

@WHollabaugh no we need to find a way to make profit without harming nature fuck money dude and capitalism is the worst im no commi but capitalism has ruined mother earth and social classes and culture we need to find a way to trade with out having to have supply but no demand its a waste of resources or worse what we are doing now is buying junk see people arent lazy they like to blow what they dont have especially on junk =/