8/27/2008-Part1 Ron Paul Advisor Peter Schiff On Bulls&Bears

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Category:

News & Politics

Tags:

• peter
• schiff
• bulls
• and
• bears
• housing
• bubble.
• mortgage
• meltdown
• credit
• crunch
• inflation
• gold
• foreign
• ron
• paul

[TalkingPointes]

They're being a lot nicer to Schiff

[MaverickCentricity]

Yeah, Gary K has really grown on me. He not as bearish as Peter, but he is willing to tell it how it is. And that takes alot.

[TheCZMan]

Maybe time to admit that despite serious stuff happening, it wont lead to that erosion or the economical disaster people have been telling about.

Serious stuff is happening but the major costs of it is passed down to people outside the USA.

[patriotsundergod]

Only for a short time. After enough erosion the euro will take center stage regardless of the dollar.

[TheCZMan]

Well, the exportation of inflation by the US does not explain that a US product bought by a casual consumer in the US 100 USD is bought 110€ in Euroland, with again, one € buying one and half $.

[TheCZMan]

What US movies, US songs etc...? Including US technologies... Maybe trying to look for them harder will help.

Check the price of a movie theater ticket in the US, add one to it, you will get the price in Euro of a ticket to see the same movie in the Eurozone in spite of the euro buying 1.5 USD.

[InTheSticks1881]

The U.S. is exporting inflation. That is all it has of real significance to export. As the value of the dollar drops oil goes up. Most must pay for oil in dollars and must buy dollars for that trade. Oil producers have no need to accept less value and simply up the price in dollars.

Yes, there are many factors, yet macro economics explains the dominate forces.

[TheCZMan]

One could wonder if the eurozone consumer could keep up sponsoring the US economy this way if the € is weakening towards the USD with oil imports becoming more expensive this day. European consumers have to work.

I doubt that eurozone consumers will keep buying US products if the prices in € is around 170 €, price that would be needed to keep the current good bargain.

[TheCZMan]

"If the Euro suffers it will help the dollar"

Not that straight. Currently, a product sold 100USD in the US is sold 110 € in the euroland, with one € buying 1.5+ USD.

Very good bargain for US corporations that keep increasing their profits because the USD downfall has never been reported in the eurozone for casual US made goods.

So as the USD is strenghtening against the Euro, this awesome bargain is going to eat away.

[InTheSticks1881]

And don't forget that war with Iran and possibly Russia, will have effect.

[InTheSticks1881]

Yes there is 'demand destruction', yet the deflationary forces only hasten the demise of the dollar. The dollar will eventually hyper inflate as the U.S. bails out failing companies and financial institutions.

Even though the dollar is up, oil and metals are down, there is little reason to believe that confidence is being restored. Fewer and fewer want our debt and are selling. *Physical* ownership of precious metals is on the increase. Shortages at large mints have and are occurring.

[xdir]

The Dow keeps taking 2 steps foreward one day and 3 steps back over the next 2.