12/7/2009 Part 2/2 Peter Schiff On FOX Business: Has The Bubble Burst On Gold?

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[rich232399]

those dumdass bitches need to shut the fuck up nobody cares when your talking!

[rich232399]

those dumdass bitches need to shut the fuck up nobody cares when your talking!

[defgill]

The FED won't let the dollar collapse? Like all the other central banks that allowed hyperinflation to destroy their country's currency? I won't hold my breath

[bonfirejovi]

well 6 months later and china is buying up all the gold, peter schiff always looks good in retrospect. these clowns just need to accept he is right.

[Nevawake]

everyone should shutup and lett only Peter Speak.

[htmenow454]

I think that right now this administration is working in the interest of places like the UK and places that also have universal healthcare. They want the dollar to depreciate so that canadians and europeans will move here with newly appreciated buying power and scoop up these houses that Americans can't buy because they're so deep in debt. And if Obama passes Healthcare (Probably) that's exactly whats going to happen and theres almost nothing that can be done about it. Buy gold.

[glenbobsoapshop]

Wall street will fall, Rev 18:11 And the merchants of the earth shall weep and mourn over her; for no man buyeth their merchandise any more. Rev 18:15 The merchants of these things, which were made rich by her, shall stand afar off for the fear of her torment, weeping and wailing,

[dlmaniac]

It's true we have the most advanced technology while China does lots of low end production, but it doesn't change the fact that the extra productivity from tech edge gets overwhelmed by all the burdens government puts out there including welfare, business tax, war spending, universal health care, cap & trade and so on. The burden is so huge corporates choose to outsource jobs to escape it.The outcome is Americans pretend to be richer by spending borrowed money that they can hardly pay back.

[Zeldovich]

I never said the US economy was entirely like that, but it is to a degree. We have a vastly more efficient economy than China, which is why we're much richer so we work shorter hours, consume more, etc. Some foreign investors do fund some of our consumption, but in terms of countries, they are extending credit to their best customers. Independent investors obviously seek profts. Either way, demand for treasuries has been going up for a year.

[dlmaniac]

Well if we really have that many workers producing efficiently like you said then why do we have perennial trade deficit? Why do we have this huge imbalance between import and export? You threw out denial after denial yet hard facts blow them away. The truth is US does NOT produce enough to finance all the spending and consumption. Much of the current unproductive service business will be washed away by marketing force, and US has to rebuild the manufacture base. Ain't pretty but has to be done.

[Zeldovich]

If a given number of workers initially spend half their money on consumption and the other half on production, as production gets more efficient, they can consume more and maintain the same standard of living, ceteris paribus.

Do I have to do all your thinking for you?

[Zeldovich]

sigh. It should be obvious that rates of expenditure and temporal allocation are one and the same. It's value over time that matters, and that's the same in either case. That's basic math.