Business
Economist Warns: The Government‘s ’Phony Cures‘ Will Lead to ’The Real Crash’
- Posted on May 24, 2012 at 5:00pm by
Becket Adams
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During an interview with Henry Blodget, Business Insider’s editor-in-chief, noted financial commentator Peter Schiff had some dark news for those who think the U.S. economy is recovering: the real crash is yet to come.
The crash of 2009, according to Schiff, was just a precursor for what’s coming next.
So what does he think will cause the “real” crash? The “government’s phony cure” for the lousy economy, Schiff argues in his book The Real Crash: How To Save Yourself And Your Country.
Watch the Business Insider interview:
Front page photo source: TPM
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Comments (107)
OperationNorthwoods
Posted on May 25, 2012 at 12:49amPeter Schiff exposed Goldline and their huge markups. After which Beck proceeded to start taliking about how he wanted collector coins in case the government seizes the gold again. I guess that is how Glenn now justifies promoting a total rip off. Most people want bullion not collector coins. Collector coins will only be worth their oz weight when the crap hits the fan. nobody is going to care about the numismatic value. So do your self a favor and buy bullion. If the government comes for your gold there not going to care whether its a collector coin or not. Those collecting it wouldn’t even know the difference.
Report Post »SgtB
Posted on May 25, 2012 at 9:32amI‘d like to see a gov’t official try to take my gold, silver, guns, hell, I’d shoot the SOB for taking my welcome mat.
Report Post »lukerw
Posted on May 25, 2012 at 10:39amUnder FDR… Gold was illegal to hold… except for Coin Collections! These Coins have a Numismatic Value based upon Condition, Age, Purity, and Mint… which results in a Value Added evaluation above the price for the Metal!
Why Liberals reject these Facts… is a Mystery!
Report Post »Unix
Posted on May 25, 2012 at 3:42pmSchiff is what I call a PERMA-Correct…don’t listen to him, at your OWN RISK! Been following him for quite a while now (years) and the man has been dead on! Much Like Celente, Rogers and Dr Doom, so go ahead and write these smart guys off, you’ll regret it people. Time to prepare for this coming collapse in 6 mos, 9 mos or a year is coming to a close…it could be as far away as 2 years, BUT it is coming, BANK on it!
Report Post »ROB RAGE
Posted on May 25, 2012 at 4:16pmCareful what you say…they may be a Drone over your house…I buy my gold and… silver..which is a better deal..local…they have a very small Markup compared to Goldline and others…This Nam Combat Vet is member of the…Live Free or Die Brigade..along with Ted..Better Dead than Red..Nugent…We’re putting the Enemy Within on Notice…If your Comin’..come on..!
Report Post »Unix
Posted on May 25, 2012 at 5:16pmIndeed, I could care less about drones in the air or in the WH, I fear them NOT…I will die a FREE man, if that is what they want! But I am with you and Ted.
Report Post »MCAinSTL
Posted on May 26, 2012 at 1:17pmWhy would anyone buy gold from a mail-order company? I buy/sell my precious metals from the coin store in town. No paper trail, the government dosen’t know what I have or what I sell. Also, I get to see the product and negotiate the price face to face with someone.
Report Post »West Coast Patriot
Posted on May 25, 2012 at 12:37amI am hearing a lot of people on here saying that Peter Schiff is the best economist, we should be listening to him, he is the bomb or shizz, and other things. I agree with those assumptions and is why I listen to him when he says Paul would be the best choice at this point. I read Chazmo saying that “…neither Obama, Romney, or Ron Paul can fix the mess we have made with our Economy.” I agree on that to some extent, and I would rather have a POTUS that actually believes in the Constitution when all this happens, and Romney does not. Look at what is rapidly approaching and start thinking with common sense. When this economy crashes, and it will soon, what good will it be to have our troops spread so thin across the globe? We will need them here more than ever. Paul is a man that is ahead of his time, has predicted everything that is happening on the floor of Congress, but nobody seems to listen to him. They all want to stick their heads in the sand and say it just cannot happen to us. That is ignorance. Wake up before it is too late.
Report Post »soybomb315
Posted on May 25, 2012 at 1:00amWhen the SHTF I will not look back and wonder how things COULD have worked out. I vote for ONLY the people who are worth voting for – none of this ‘lesser of two evils’ junk. I would never want my daughter to pick the lesser to two wifebeaters, and I hold myself to the same standards
Report Post »justangry
Posted on May 25, 2012 at 8:15amTom Woods thinks highly of him.
Report Post »centenium
Posted on May 25, 2012 at 9:33amSoybom,
Your daughter is going to end up with one or the other wife beaters. I think if that inevitability is plain then she would want a choice as to which one she goes home with.
Staying out of an election because your candidate is not on the ballot is a lazy, ignorant cop out.
Report Post »SgtB
Posted on May 25, 2012 at 9:34amI like the “lesser of two wifebeaters” analogy. It‘s something I’ve been trying to get through to people for a while now.
Report Post »lukerw
Posted on May 25, 2012 at 10:43amWhen Hunting… you follow the Dog… that you believe will lead you… to the Prey!
Report Post »West Coast Patriot
Posted on May 25, 2012 at 1:10pmCentenium, Well, right now, our candidate is on the ballot. I believe he will win in Tampa as I do not get my news from the MSM, Fox. There will be more Ron Paul supporters as delegates than Romney supporters, as Romney has no real base that will come to the conventions and fight for him. The delegates will be able to vote for any candidate on the first round, The Constituion gives that right, rule 38 recognizes that right and so does the RNC legal council.
Jerry Davis at Lawyers for Ron Paul:
“1. “It IS ILLEGAL TO FORCE ANYONE TO VOTE ANY CERTAIN WAY…PERIOD!!!!”
2. “ALL of the ‘binding’ IS under civil constitutional law….VERIFIABLY…ILLEGAL.”
3. “We are not even going the rule 38 route, ANY means of manipulating a vote, whether by proxy or by unit, is illegal.”
4. “The RNC’s use of these rules in their very nature, are illegal, but no-one has brought this to the table yet.”VOTE ANY CERTAIN WAY…PERIOD!!!! ALL of the “binding” IS under civil constitutional law….VERIFIABLY…ILLEGAL.”
Here is an example of how far the GOP is getting from our Constitution: http://www.youtube.com/watch?v=o7iu4TQhszs&feature=youtu.be
Report Post »West Coast Patriot
Posted on May 25, 2012 at 1:16pmThe GOP is being changed all over the country. Here is an example: http://www.washingtonpost.com/blogs/election-2012/post/ron-paul-supporters-roil-clark-county-nevada-gop/2012/05/24/gJQAuPbknU_blog.html
You are either with the Constitution or you are against it, which side are you going to take?
Report Post »ImMormon
Posted on May 25, 2012 at 5:48pm@ West Coast
Why is there a citizen vote/primary if the none of their votes will count? It makes no sense in my mind that the delegates vote however they want in the first round regardless of how their state voted. The consitution gives power to the people. Letting delegates vote their own personal vote in the first round instead of being bound to their states vote sounds very unconstitutional to me.
I’m not a gambling man, but if I was, I’d be putting all my chips on the fact that the delegates first round vote will be bound. It is constitutional because it is the voice of the people!
Report Post »Unix
Posted on May 25, 2012 at 6:59pmTo all of those who think sitting out will help things; when you are sitting on the street wondering what happened to your life, look in the mirror! I don’t want to sound mean, but it is the truth, you’ll have done it to yourself, and all the rest of us! At least Romney is NOT a Marxist, Islamo-Fascist. So go ahead and follow your flawed logic and see where it gets ALL of us! Maybe even in a FEMA camp, have a nice day!
Report Post »West Coast Patriot
Posted on May 25, 2012 at 7:06pmIMMORMAN, Sorry, but it is official at this point, all Paul supporters that are delegates at Tampa this August, will not be bound by law. The rules may say this, but law trumps rules, Federal law trumps state law, etc…. You can think what you want, but true Paul supporters have known this for quite some time, but we have been silent until now as it is too late to stop the momentum at this point. I have been trying to tell everyone on The Blaze for a long time now, but all you guy’s think you know everything by listening to the MSM.
Report Post »Watch here: http://www.youtube.com/watch?v=SkNO90HPaw0&feature=youtu.be
I have said that Tampa was going to be very interesting this year, and I meant it. The entire convention center will be surrounded by over 20,000 active duty and veterans for Ron Paul and Paul is going to become the nominee on the first round. They cannot dismiss delegates lawfully for not abiding by the rules. The rules have been violated in almost every state so far and we have had it.
See you all in Tampa!!! Ron Paul 2012!!!
West Coast Patriot
Posted on May 25, 2012 at 7:11pmIMMORMON, I wanted to add also to answer your question, the founding fathers were ingenious when they came up with this form of primary. It is designed so that the delegates CAN override the majorities in order to give less funded candidates the ability to win over a rich candidate that can buy the vote. The candidate that cand get the grassroots to go in and be more active has the ability to win. Romney just does not have the base you think he does, as he cannot move enough to be active in the delegate process. That is why Paul will win. He moves people where Romney cannot.
Report Post »soybomb315
Posted on May 25, 2012 at 8:10pmI’m no expert on primaries but it appears the primary rules were written by the Republican and Democrat parties. Blame them for having a system where your vote is meaningless.
Of course, that is the truth of the matter….your vote has never really counted because both parties want bigger government
Report Post »West Coast Patriot
Posted on May 26, 2012 at 2:00amSoybomb, Maybe it was not our founders, but 42 USC § 1971 sure did.
To All Ron Paul Supporters. Ron Paul will be our next POTUS. 42 USC § 1971 – Voting rights states:
(b) Intimidation, threats, or coercion
No person, whether acting under color of law or otherwise, shall intimidate, threaten, coerce, or attempt to intimidate, threaten, or coerce any other person for the purpose of interfering with the right of such other person to vote or to vote as he may choose, or of causing such other person to vote for, or not to vote for, any candidate for the office of President, Vice President, presidential elector, Member of the Senate, or Member of the House of Representatives, Delegates or Commissioners from the Territories or possessions, at any general, special, or primary election held solely or in part for the purpose of selecting or electing any such candidate.
There are strict penalties for those who attempt these acts, which I believe has been done in at least one case, maybe more. Heads are going to role before this is over.
There are already enough Paul supporters as delegates, and that are poised to become delegates. Romney delegates? At least 1/3 Paul supporters. By the time we get to Tampa, Paul will have at least 1150 delegates standing there waiting to cast their first vote for Paul.
Ron Paul 2012!
Report Post »americangriffin
Posted on May 24, 2012 at 11:57pmPeter Schiff is constantly saying Ron Paul is the man and Glenn just doesn’t see it.Put two and two together. Ron Paul is saying everything that Glenn has been advocating. Wake up glenn! Romney can’t svae this country.
Report Post »smokey888x2
Posted on May 25, 2012 at 12:28amRon has great answers on many of the things dealing w/ the economy here in the U.S. but boy,
his foreign policy would be a complete free-for-all for China, Russia and even Cuba etc.
And after four years Mexico and very possibly Canada would be communist …. very possible. Paul
Report Post »is 100% free of doing anything ourside our boarders.
soybomb315
Posted on May 25, 2012 at 1:01amits going to be REAL free-for-all when we default and go bankrupt
He who defends everything, defends nothing
Report Post »XANCAP
Posted on May 25, 2012 at 2:31amSmokey, I’ve lived in Japan and Canada and have seen first hand how your government has harmed me and other individuals who were simply living our lives and looking after our families.
I am so sick and tired of hearing how great you think YOUR foreign policy is. Perhaps you think you should sit on my couch, eat my food and wave your gun around my family and say it is for my protection.
But let me tell you – it is damn rude and people don’t like it.
Osama bin Laden didn’t like it. And, unfortunately his blowback isn’t surgical – he hit innocent people at the WTC and missed those corrupt bastards in congress that YOU support so much.
Read a book!
Report Post »KidCharlemagne
Posted on May 25, 2012 at 4:10pmsmokey888×2
Posted on May 25, 2012 at 12:28am
Ron has great answers on many of the things dealing w/ the economy here in the U.S. but boy,
his foreign policy would be a complete free-for-all for China, Russia and even Cuba etc.
====================================
The U.S. Military is financed (on credit) largely by foreigners who buy U.S. Treasury bonds (in essence, a loan to the federal government)….
When foreigners begin to worry about holding IOU’s from Uncle Sam, then they won’t buy any more U.S. Treasury bonds (and will attempt to liquidate the ones that they are currently holding)…
If foreigners take away the credit card that finances the U.S. Military, then you don’t even know what a free-for-all looks like yet….
In fact, this wouldn’t be unprecedented at all….in 1965, the simultaneous welfare/warfare state began (LBJ’s “Great Society” as well as the first U.S. combat troops to Vietnam)…
By 1970, the U.S. Treasury was hemorrhaging money so bad that foreign countries began immediately demanding their gold being held on reserve in the U.S. in exchange for the federal reserve notes that had been issued in their place.
But since that money had already been spent, then the U.S. Treasury defaulted (resulting in the Nixon Shock of 1971):
http://en.wikipedia.org/wiki/Nixon_Shock
Report Post »aprilmay34
Posted on May 24, 2012 at 8:51pmI really wish Glenn and Peter would get over their differences and make-up. I would love to see Peter come on GBTV but I won’t hold my breath.
Report Post »anthonyi
Posted on May 24, 2012 at 10:51pmI agree! Who knows, but Peter is my top modern economist.
Report Post »soybomb315
Posted on May 24, 2012 at 11:03pmwhat was their beef about?
Report Post »resme
Posted on May 24, 2012 at 11:34pm@soy, Peter is for freedom, Glenn is not.
Report Post »soybomb315
Posted on May 24, 2012 at 11:37pmoh i know all that. i helped schiiff’s senate campaign. Beck used to have Schiff on his CNN show – i wonder what caused the fall-out
Report Post »aprilmay34
Posted on May 25, 2012 at 12:13amIt was over Goldline.
Report Post »Zatch87
Posted on May 25, 2012 at 12:15am@Soy
They stopped having Peter Schiff on the Glenn Beck show after he was critical of Goldline’s deceptive marketing practices.
Report Post »soybomb315
Posted on May 25, 2012 at 12:27amdang – thanks guys. Guess it shows what was more important to the beckster
Report Post »Netsurfer2
Posted on May 24, 2012 at 8:40pmI’m really wondering about this December 20 2012 thing! I really think it is the collapse of the US Dollar as we know it and the stock market there of. I have been watching the market and can tell you that there is no way to fill the void! They have over done themselves beyond repair. You see India and Turkey doing well (their markets are rising) and a migration towards those countries out of America. I know about India in that they even have boot camps that teach IT and such! Most of them came to the US with good paying jobs promised. Our colleges won’t have the government funding to fill those jobs nor educate our young into filling those jobs here.
Another problem is that China’s industries are shutting down more and more! People there will be laid off and expect food. You can expect the food prices to rise dramatically here because of it and as payment for our national debt.
I’m sure taxes will increase and people will be forced to give up what they cannot afford. They will break the labor unions and people will barely be able to make it in society for a long time to come!
If your hungry you will work for food even if a days wage costs you more than a months pay to buy that bread! You will buy it to eat regardless! We are in for a rude awakening and there is no turning back! I see a huge war coming and much more!
It’s almost like the UN is anti-human! Something to think about!
Report Post »ALL4FREEDOM
Posted on May 24, 2012 at 8:59pmAnd these countries are buing gold like nobody’s business while our “government” lives in la-la land. At this point, what the Fed should do is take all the Euros they bought recently and and buy as much gold as they can get their grubby little hands on. No rush; yesterday or the day before will do just fine. Like I said, that’s what they SHOULD do. But they won’t.
Report Post »fatjack
Posted on May 25, 2012 at 12:16amHere you go.
CULTURAL MARXISM: The Corruption of America
http://www.youtube.com/watch?v=gIdBuK7_g3M
Report Post »SERE22
Posted on May 24, 2012 at 8:31pmHas anybody else noticed that the apostrophes in the headline are backwards?
Report Post »TheSitRep
Posted on May 24, 2012 at 8:14pmHuge econ crash, cultural war, culture division, WWIII, all around the corner.
The only hope we have is a wholesale change from business as usual to a free market and getting rid of huge amounts of regulation. epa, osha et al.
I am putting my resources into chickens and rabbits and the odd goat.
Report Post »Skee
Posted on May 24, 2012 at 8:14pmSchiff is the shiz!
Report Post »redneckoilman
Posted on May 24, 2012 at 7:48pm@jammer Remember that a good man or woman who grew up knowing how to survive and use a gun can each handle a couple hundred. Their side is only good at yelling and whining, and breaking windows that don’t fight back. Stay strong you will be fine.
Report Post »Starman1
Posted on May 24, 2012 at 7:14pmThe ONLY way outta this mess is WAR or the return of our Savior ……… not happy about the war part, but I’m ready …….. as far as the Lord ? I’m REALLY ready for him ……… it’s time ya know !
Report Post »lukerw
Posted on May 24, 2012 at 8:09pmThe 7 Candles are 7 Churches are 7 Ages… 400 years each… so do not expect a Messiah. And, War only fixes the problem of Economic GridLock, where Supply & Demand are frozen, by Killing large numbers of Demanders!
What’s Plan C?
Report Post »Wolfgang the Gray
Posted on May 24, 2012 at 8:35pmIt starts to make sense how DHS ordered 450 Million rounds of HP .40S&W. They are expecting a local war and are getting ready. I’ve read articles about military training locally for mass riots. Don’t forget all the new drones now & soon to be flying over our country. Hopefully if things go down, most of the military will hold their vow to the Constitution (which is before and above the orders of the President).
Report Post »Cymry
Posted on May 24, 2012 at 8:44pm@ lukerw
January 1, 2001 began the third millenium. A day is unto a thousand years for the Lord. That makes this the “third day” and God tends to do immense things on the dawn of the third day.
Report Post »Micmac
Posted on May 24, 2012 at 6:57pmIt possibly is coming. If it does it’s coming thru Europe, which is in a hella lot of trouble right now. LTRO isn’t working but only postponing the finale. Greece’s elections said what? France’s elections said what? Technocrats running countries. Claiming austerity when there was (is) none. What are the odds of Greece going off of the Euro and what will be the consequences?
Then we have to look at the Fed and a possible QE3. If it comes it will be near the election and will be only to either prop up the Fed (the money controller) and its Primary Dealers (Socialism works best with Corporatism), or to help NoBama get re-elected (NoBama money). But the money will go to banks and Wall Street, like the other QE’s.
It‘s in NoBama’s best interest to keep the economy stable thru the election and afterwards, he doesn’t care if what he really wants to is 100% socialize America, a la France, etc. I think NoBama is just a figure head and the puppet masters will have a field day if he’s re-elected. Just think about 4 more years of no Justice Department and no laws for the Progressives to be concerned about. The river runs a lot deeper than what we see here.
This is a good site but it’s very shallow.
NoBama 2012
Report Post »moussiagilda
Posted on May 24, 2012 at 6:53pmOptimism is patriotism.
Report Post »moussiagilda
Posted on May 24, 2012 at 6:52pmJust another nasty shlub who needs everybody to go to hell. A giver of hell.
Report Post »Abraham Young
Posted on May 24, 2012 at 6:21pmI like Schiff. He is on the good guy side of the equation and keynesians, marxists and socialist communist BS peddlers are going broke fighting for their right to YOUR wallet.
Report Post »marhee9
Posted on May 24, 2012 at 6:31pmI like him as well, he seems to be one of the few that knows what’s really going on with the economy. I think we’re heading for really big problems. The real issue is that we won’t be told about it until we get Obama out of office. Just look at the games they play with the unemployment numbers.
Report Post »http://www.youtube.com/watch?v=XwGq8e23LOc
lukerw
Posted on May 24, 2012 at 8:21pmSchiff is correct… the Bubble that created the Problem… was not dealt with… but Simulus simply reinflated the Bubble… Derivatives are flying again, the Dollar Printing Press must lead to Hyper Inflation, and the Debt Maintence is going to suck Revenue. So, what the Liberal/Keynes Government has done is to make the Disaster Worse & More Cruel!
Report Post »justangry
Posted on May 24, 2012 at 6:20pmYeah, and there’s about 100 or so non economists on HERE who have been saying the same thing since I created my account. Why are these clowns getting paid so much money?
Report Post »jamestoms
Posted on May 24, 2012 at 7:07pmDitto
Report Post »Berbel73
Posted on May 24, 2012 at 6:04pmThe progressives, marxists, socialists, anarchists, and islamists are eagerly waiting for the coming economic collapse as they see it as their best opportunity to overthrow capitalism and the western way of life and impose their socialist/communist “utopia”. I would like to remind all of them however that we are very well aware of their schemes and while they may feel emboldened right now we have also been preparing, and we outnumber them by a WIDE margin. So if you are a traitorous communist marxist sympathizer or an islamo fascist who wants to overthrow our constitutional republic then I would suggest that you rethink your position because you are doomed to fail and we WILL be taking names as we are rebuilding and restoring what you sought to destroy.
Report Post »Thevoice
Posted on May 24, 2012 at 6:22pmAm In your Army…
Report Post »jammer19
Posted on May 24, 2012 at 6:49pmI am speaking this thought without looking up the true numbers, so dont crucify me on this, and know that I agree totally with what you are saying, but….. if you think we out number them you are wrong. In this country we have approx 350 million people, 50% which is going to be on the other side… the marxist/commies/islamist/anarchist will out number us by a great deal when you add the influx of them coming from around the world. At best we will have approx 100 to 200 million on our side (most of which will be women and children), against most of the rest of the population of the planet. If the fight is just people from our country, we win. If it turns into a global fun fest… we will die. I have no problem with taking a stand and dying for it. I just hope and pray we can make the stand and keep our nation the way our founding fathers wanted it… LIBERTY and JUSTICE FOR ALL !
Report Post »Tommyk1
Posted on May 24, 2012 at 6:57pmMe too. And I know at least 100 more and that’s just me. That 100 knows another 100 each.
Report Post »LookingforJustice
Posted on May 24, 2012 at 8:22pmDitto! Agree 100% BERBEL73.
I love our country and I love our freedoms. Please dear Lord, give us a chance to take our country back!
November, 2012…..stand up, look up, and PRAY!
Report Post »RiseAboveThem
Posted on May 25, 2012 at 12:36pmAmen!
Report Post »Meyvn
Posted on May 24, 2012 at 6:00pmand it’s coming real soon.
Report Post »TemayElbor
Posted on May 24, 2012 at 5:58pmALL EYES SHOULD BE FOCUSED ON THE FEDERAL RESERVE.
Previous American presidents who lost the election usually blamed the Federal Reserve. I believe the FEDS, at this point in time, are going to do some “juggling”, apply some “hocus pocus formula” to boost the American economy right before the election to help Obama’s presidential bid.
The people running the Federal Reserve should be required to explain in front of a government body what they are PLANNING TO DO to the American economy BEFORE applying their economic plans. THE FEDS MAKE A LOT OF PROMISES.
IF THOSE PROMISES DON’T MATERIALIZE, THEY WHO RUN IT SHOULD FACE JAIL TIME.
Report Post »PhluidG
Posted on May 24, 2012 at 5:31pmPeter Schiff is a sharp guy. He ran for Senate in 2010. It‘s too bad Glenn didn’t seem to know the man even existed then, even though he was running in Connecticut where Glenn was living at the time..
Report Post »chazmo
Posted on May 24, 2012 at 5:44pmGoogle Peter Schiff vs Art Laffer.. Funny who was right in the end.. Only a fool would ignore Peter..
Report Post »marybethelizabeth
Posted on May 24, 2012 at 5:47pmPeter Schiff believes in the fairy tale promoted by the austrian school of economists.
They don’t believe that profits are a reward for hard work and initiative.
They believe that profits are acrued by forgoing consumption. The simple fact of saving money and not spending it entitrles the saver to a reward of profits.
Peter Schiff’s head is filled with such idiotic theories that he has a bad habit of vocalizing.
Report Post »bhelmet
Posted on May 24, 2012 at 5:48pmPeter Schiff was on Glenn’s show long before 2010 – when he was still on CNN. He did not talk much about his Senate run, but he was not unknown to Glenn.
Report Post »PhluidG
Posted on May 24, 2012 at 5:56pm@BHELMET Sort of my point. I followed Schiff’s run and have followed Glenn since his first national show. On one episode, Glenn was complaining about how the Republicans didn’t have a Senate candidate in Connecticut that he could back. He mentioned everyone running EXCEPT for Peter. Why?
Report Post »Sicboy
Posted on May 24, 2012 at 5:58pmFollow @jamesgrickards, this guy knows his stuff.
Report Post »chazmo
Posted on May 24, 2012 at 5:59pmMaryBeth E ah our first fool… and liar… You‘re saying that peter schiff doesn’t think profits are from hard work.. hahaha.. you must be talking about Obama.. You’re confused girl.. That’s Keynesian economics.. Print Print Print.. Tax tax Tax… Borrow Borrow Borrow… spend spend spend.. The Government will SAVE US ALL… WHOO OOOO…
Report Post »Sue Dohnim
Posted on May 24, 2012 at 6:13pm@MaryBethElizabeth
Can’t you play another tune,, your incessantly adolescent ad homonym, straw-man fallacies and ignorant statements are getting so old.. and predictable
Maybe you should ask mediamatters or moveon.org for a raise, you are in for a very tough summer and your repertoire will need to move up to the adult level.
Report Post »KC1
Posted on May 24, 2012 at 6:19pm@MartyBertha
Report Post »Yeah you’re Keynesian economics ie artificial interest rates, central banks and fiat currency has done wonders for Euro and the Dollar. You have it all wrong, Austrians believe that the free market and mutual consent should decide where capital is allocated and when saving is necessary, who makes a profit and who doesn’t is decided by the free market and nothing else. The Gov’t encouraging spending where/when it is not viable is the reason we are in this mess. You may want to stick to your more simplistic talking points because its obvious your understanding of economics is shallow and naive at best.
KC1
Posted on May 24, 2012 at 6:24pm@Phlu, Yes, let down of the century! I believe he was beat by a WWF CEO who eventually ended up losing if I recall correctly. He’d make a great VP on the Paul Ticket.
Report Post »marybethelizabeth
Posted on May 24, 2012 at 9:48pmThe Austrian School economists believe that that the growth in the economy doesn’t go to the workers who create the wealth. They believe that the wealth should acrue to the wealthy. It an economy controlled by Austrian School policies the rich get richer; because they have money, did not consume, it is their due. The American dream is only a fluke as long as the Austrians are in control of the Fed.
A catastophe to the Austrian School is when the nations profits stop flowing to the wealthy.
I have never advocated Keysean economics. Your Beckian mythology is like an enforced ignorance.
Report Post »Sue Dohnim
Posted on May 25, 2012 at 1:01am@MARYBETHELIZABETH
Where did you learn about Austrian Economics?
Cuz you haven’t got a clue…
What you describe is more aligned with Keynesianism,
Report Post »Turin
Posted on May 25, 2012 at 9:44am@marybethelizabeth,
The foundation of Austrian Economics is Praxeology, human action. As such, Austrian economics is a descriptive science that most accurately explains economic phenomenae. There is no value judgment or underlying m.o. in the Austrian school. It is DESCRIPTIVE!
You, however, are an ignorant idiot. You have ZERO idea what you are talking about – just another useless, ignorant, lying shill.
Report Post »KC1
Posted on May 25, 2012 at 3:08pm“The Austrian School economists believe that the growth in the economy doesn’t go to the workers who create the wealth.”
So MartyBertha, Let me get this strait you think that the workers of a company should get as much if not more than the people who RISKED their own capitol to start the company or invented the product being made? Thats great incentive to all those who really do the creating, the shmuck who cleans the bathrooms at night deserves as much as the guy risking his millions on backing an idea or the genius who actually created the product that people want/need. Shame on me for even trying to walk you through it when you believe this rubbish. A six year old even knows that wont work.
Report Post »Individualism
Posted on May 24, 2012 at 5:25pmYeah here comes the violent revolution after the system crashes, Libertarian Revolution time to take back our country. There could be all out civil war between people and gov’t forces, scary thoughts but o well its time for the elite to pay for their crimes.
Report Post »chazmo
Posted on May 24, 2012 at 5:48pmwho’s worse.. The Govt Elite or the welfare bloodsuckers? I say both.
Report Post »Individualism
Posted on May 24, 2012 at 8:15pmGov’t elite because they created the other folks you mentioned.
Report Post »fangbanger
Posted on May 24, 2012 at 5:19pmpeter schiff kicks @$$
Report Post »TSUNAMI-22
Posted on May 24, 2012 at 5:19pmHe’s right 100%. It’s just a matter of time.
Take your money out of the bank before the run on them occurs and invest it into items that you can physically defend with a firearm.
Report Post »chazmo
Posted on May 24, 2012 at 5:46pmyes indeedy…
Report Post »texanpatriot
Posted on May 24, 2012 at 5:19pmPeter Schiff will get the same phone call from the WH that the Mayor of Newark and others have gotten and will change his story by tonight. Otherwise all hell will rain down on him….
I remember when we had a political system that was friendly to citizens and businesses and not worried about reelection. But then again I also voted for Goldwater so that will tell you where I am coming from.
Report Post »TSUNAMI-22
Posted on May 24, 2012 at 5:23pmSchiff isn’t the “cave-in” type.
Report Post »chazmo
Posted on May 24, 2012 at 5:45pmNever happen.. Obviously you don’t know Peter
Report Post »KC1
Posted on May 24, 2012 at 5:16pmWho doesn’t love Tom Woods and Peter Schiff not only the smartest economists but most entertaining to listen to. For all you religious folk out there do your self a favor and check out Tom Woods defense of the Catholic church, a PBS program from the 90′s, for everyone else I suggest the crash of 1920, or 33 questions your not supposed to ask about history. All of them on You Tube and all very entertaining. A nice break from the doom and gloom.
Report Post »PETTYDRAMA
Posted on May 24, 2012 at 5:13pmJust more fear fodder for the paranoid beckbots. AS if they need anymore. They already have a bible in one hand and a rifle in the other. That is the most dangerous combination in the world.
Report Post »AvengerK
Posted on May 24, 2012 at 5:28pmThat it’s PETTY..keep whistling past the graveyard champ.
Report Post »MONICNE
Posted on May 24, 2012 at 5:34pm“He’s 34 an drinkin in a Honkey Tonk, just kickin Hippies assies and raisin haill”
Show some respect, paristi-pus!
LOL TEA
Report Post »Sue Dohnim
Posted on May 24, 2012 at 5:36pmNo, Collectivist Ideology and Government would be the most dangerous combination in the world.
Over 100 million deaths
Report Post »chazmo
Posted on May 24, 2012 at 5:43pmOh Petty… Ya may want to wake up son. I feel bad for the Petty’s of the world. Always looking at everything through Right/Left. Never looking at the fundamentals of what is going on. Believe me Petty neither Obama, Romney, or Ron Paul can fix the mess we have made with our Economy. Only hope at this point is total collapse. Only way folks like you will wake up to this ponzi. I know some of you are going to castrate me but, if you think Romney is going to fix this mess think again. Nobody and I mean NOBODY is going to give up their free lunch. And even if he magically did cut benefits(hahahaaha) it will only be 4 years before we have Worse than Obama elected.
Report Post »O yes Petty i’m clinging to my Bible and AR15, Glock 9mm, Taurus 9mm, and my 3 shotguns, 10 knifes, and all my canned foods.. See you on the other side.
Ben__Franklin
Posted on May 24, 2012 at 5:43pmYep, and if PRETTY would have bought Gold when Glenn Beck told him too, PRETTY would now be rich enough to not pay his fair share in taxes…..
Report Post »TheSitRep
Posted on May 24, 2012 at 5:54pmI’m not even closer to being a believer so, no bible but, I do have plenty of weapons and ammo. Unlimited water, livestock, gold, shitons of seeds, tools, fuel and spare parts.
You can just ignore what could very potentially happen while I wont be preying for ya, if I do find your starved fresh corpse my dogs and chickens will thank ya.
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