No, you are incorrect. I just read the Wikipedia article on Hoover. He proposed all kinds of inane policies that Schiff would be totally against. This is a false comparison.
Inflation is caused by printing money and expanding credit. Greenspan cut the rate back in 2001 and created a stock market, housing, commodities bubble through too much credit. And since it was all imaginary gains, it will deflate. Sure, they are printing $ now to keep the bubble alive, but guess what? there is no credit (at least not crazy credit like there was in the 2000’s.) And at this point they can’t print enough money to compensate for it.
Google “Hooverville” - you will see that Schiff is proposing exactly what Hoover did and what prolonged the great depression. Peter Schiff is really stupid and I can’t believe how many people are falling for his bullshit.
Look at everyone Else’s investments everyone’s investments are down. except for the ones that manipulate the stock markets .. continue to live in your fantasy world because you are the unteachable. We have nothing to back up the dollar this is going to end up being worse then the 20s we had manufacturing back then . we have none now.
Peter Schiff is an idiot. He correctly saw the economic meltdown coming and then stupidly proceeded to invest such that he lost 70% of his portfolio. That is like a physician correctly diagnosing a patient with heart disease and then stupidly prescribing flu medication. What a dumb douchebag!!!
I’m a liberal lefty and I take this guy seriously. He’s been right at every turn when it comes to predicting the economy and forcasting what would be poor investments.
Politics doesn’t really come into facts… and the fact has a better track record than any of his detractors.
Having a strong social secuirty net or geting universal health care won’t mean shit if the entire economy tanks eh?
I am old..I forgot what we were talking about. Anyway, if you are one of those who think Schiff’s logic is sound then you are hoodwinked like the crazy right wing Americans. There is no convincing a radical conservative once belief in some (any) conspiracy theory takes hold.
@lizardgizard2002 And your point is? Im in Australia, and the thing the Canadians and Aussies forget is that with a population so small its veritably impossible to fuck up too badly. But the USA is a completely different story. Schiff is espusing sound logic to people in the USA who need something besides Keynsian inspired stupidity.
Not me, my money is in Canadian Dollars. That is Canada, the true north strong and free. No bank failures, no credit crisis, free health care and lots of gold and oil. Oh and no Peter Schiff.
@lizardgizard2002 A 7 year old could grasp simple concepts like ‘you cant spend your way out of debt.’ Seems like you may be better served by listening to some 7 year olds, their simple logic tends to outstrip many of these would be economists. But its ok, keep your money in US dollars, thats just more gold for me.
Even if America did bomb Iran, I don’t think that’s what would drive the cost of gold to go up. It would be the devaluation of the only other contemporary way to measure monetary value: the US$.
Schiff may have made some off comments about making bombing runs on Iran, but I don’t think it was in context or a fair representation of his ideas about foreign policy. Let’s give him a fair chance to explain himself, as I’m sure he will have to if he’s running for senate.
That is the same rhetoric and justification that has the US military in 2 countries pushing them further in debt. You think the revolutionary guard is going to roll over after their facilities are bombed? Hell no, the whole world will feel it the next day. Oil will stop flowing and world economies will come to a halt. Everyone knows this, as I am sure you have heard this also regardless what side you are on. Its obvious and it sucks that Schiff doesnt see that despite his foresight in economics
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No, you are incorrect. I just read the Wikipedia article on Hoover. He proposed all kinds of inane policies that Schiff would be totally against. This is a false comparison.
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mr.schiff would it be safe to assume that as inflation rises we could actually see food rationing in America?
With the cuts in production and the scarcity of resources it seems like a possibility.
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Inflation is caused by printing money and expanding credit. Greenspan cut the rate back in 2001 and created a stock market, housing, commodities bubble through too much credit. And since it was all imaginary gains, it will deflate. Sure, they are printing $ now to keep the bubble alive, but guess what? there is no credit (at least not crazy credit like there was in the 2000’s.) And at this point they can’t print enough money to compensate for it.
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how so? im debating buying silver
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precious metals are saying inflation ahead
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Google “Hooverville” - you will see that Schiff is proposing exactly what Hoover did and what prolonged the great depression. Peter Schiff is really stupid and I can’t believe how many people are falling for his bullshit.
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Don’t pull that ad-hominim shit shahen13. Peter is not a loser. you are. Otherwise speak the fuck up and tell us otherwise, then back it up.
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Look at everyone Else’s investments everyone’s investments are down. except for the ones that manipulate the stock markets .. continue to live in your fantasy world because you are the unteachable. We have nothing to back up the dollar this is going to end up being worse then the 20s we had manufacturing back then . we have none now.
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Peter Schiff is an idiot. He correctly saw the economic meltdown coming and then stupidly proceeded to invest such that he lost 70% of his portfolio. That is like a physician correctly diagnosing a patient with heart disease and then stupidly prescribing flu medication. What a dumb douchebag!!!
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Peter Schiff is a douchebag. His investments are down 70% - what a loser.
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Totally agree!
The “Left”, “Right” business in politics is simply the playing two of the human archetypes off of each other.
It’s a game to give us the belief we’re electing our presidents.
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I agree. Peter should start his own political party called the ‘Common Sense’ Party.
Your the best Peter keep fighting, I watch your blogs from the UK every day.
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When I see logical liberal lefties it almost make me tear up. Thank you, you just restored my faith in humanity :p
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Schiff rules!!!! Just absolute sense. This is just common sense. No left no right, just sense.
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I’m a liberal lefty and I take this guy seriously. He’s been right at every turn when it comes to predicting the economy and forcasting what would be poor investments.
Politics doesn’t really come into facts… and the fact has a better track record than any of his detractors.
Having a strong social secuirty net or geting universal health care won’t mean shit if the entire economy tanks eh?
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I am old..I forgot what we were talking about. Anyway, if you are one of those who think Schiff’s logic is sound then you are hoodwinked like the crazy right wing Americans. There is no convincing a radical conservative once belief in some (any) conspiracy theory takes hold.
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@lizardgizard2002 And your point is? Im in Australia, and the thing the Canadians and Aussies forget is that with a population so small its veritably impossible to fuck up too badly. But the USA is a completely different story. Schiff is espusing sound logic to people in the USA who need something besides Keynsian inspired stupidity.
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Not me, my money is in Canadian Dollars. That is Canada, the true north strong and free. No bank failures, no credit crisis, free health care and lots of gold and oil. Oh and no Peter Schiff.
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Did you hit the phone banks yet? Otherwise you’re just dreaming.
Doesn’t matter what state you live in, anyone can volunteer for the phone banks.
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PETER SCHIFF 2010 !!!
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@lizardgizard2002 A 7 year old could grasp simple concepts like ‘you cant spend your way out of debt.’ Seems like you may be better served by listening to some 7 year olds, their simple logic tends to outstrip many of these would be economists. But its ok, keep your money in US dollars, thats just more gold for me.
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Sorry, I dont talk to 7 year olds or Schiff cult members. They have the same mentality.
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Even if America did bomb Iran, I don’t think that’s what would drive the cost of gold to go up. It would be the devaluation of the only other contemporary way to measure monetary value: the US$.
Schiff may have made some off comments about making bombing runs on Iran, but I don’t think it was in context or a fair representation of his ideas about foreign policy. Let’s give him a fair chance to explain himself, as I’m sure he will have to if he’s running for senate.
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I wonder if Schiffty Pete’s call to bomb Iran has anything to do with his prediction that the price of gold will rise to $5,000 per ounce?
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That is the same rhetoric and justification that has the US military in 2 countries pushing them further in debt. You think the revolutionary guard is going to roll over after their facilities are bombed? Hell no, the whole world will feel it the next day. Oil will stop flowing and world economies will come to a halt. Everyone knows this, as I am sure you have heard this also regardless what side you are on. Its obvious and it sucks that Schiff doesnt see that despite his foresight in economics