Peter Schiff: The Man Who Called the Collapse
Wednesday, February 17th, 2010 at
1:10 pm
“This is not just a financial crisis, this is an economic collapse. Our entire phony economy is collapsing around us. There’s nothing the government can do to stop it. They should get out of the way and let it happen.” 11/20/08
Tagged with: dollar • economics • economy • financial crisis • Gold • money • peter schiff
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The web was “invented” by a Brit in Switzerland.
look at those morons trying to discredit Peter Schiff. What buffoons.
America is doomed! LOL Too Late to Pray!
Peter Schiff calls it right every time. Of course other ecomomists and fund managers are going to talk up the market, they are just trying to keep their job, but they all surely know the painful truth by now. Obama is going to inherit a nightmare.
Ummmm well, not really, US culture gets exported by the appeal of living in the US.
As people wanted to join the US and get a similar lifestyle, they also practise a cultural conversion to the US culture.
This is probably the biggest change to come because indeed, it can be felt that people will no longer lust for the US lifestyle therefore dropping their taste for US culture. Probably China is going to fill the vaccuum.
Well, the US still has its aviation business (#1 export); though I suspect, as its military declines over next couple of decades, it won’t have the same kind of military/economic influence to maintain its market.
Airbus
No, what I mean is, the aviation business is US’s #1 export, followed by financial services (well, I guess this is no longer true, but in pre-crisis era the world envied the US’s financial *fradulent* might), agriculture, etc, etc.
notice how they have him standing.
All of them keep arguing with Schiff. It’s ridiculous; they need to stop trying to sound smart and be ahead of the game, and get real. Schiff’s advice is realistic & long-term. We aren’t learning from our mistakes, even as things are collapsing, people are trying to figure out angles and make money off the collapse. Certain things have to be allowed to fail, so that areas can be healed and brought back up more stable.
Dollar won’t last the Fed is fighting deflation to the bitter end. Thus hyperinflation is the only option. Our economy is mostly consumption and based on credit and debt. Logically it won’t last. The banks are insolvent look at iceland. We are not too big to fail. We will fail it will just be bigger and worse. The poor and middle class will suffer the most. The government is making all the wrong moves.
Having him stand rather than sit gives me the impression of a professor lecturing his students…perhaps not the impression they intended though!
Peter is the man, he knows what he is talking about.
0:54 lol… schiff is the man
This is so fun to watch, better than MTV reality bullshit
Haha. And then there’s Winnie the Pooh walking by in the background. ^^
USA is a sinking ship! It doesnt have a real manufacturing economy its just a bloated, in debt, morally dubious country nowadays and the rest of the world is laughing
‘The Chinese are commies!’, ‘the Russians are Crud’ lolz!!!!!!!!!!! idiot!
I truley hope it doesnt sink , the rest of the world is based on the dollar , u.s. sinks , we all get wet .
Dont be ignorant and get caught laughing when it will affect you no matter where you live .
OnePeace
sounds like a propaganda fool
its true that everyone will get wet. Well the current world economic crisis has proven that they too have hit the water. They were on our boat and we sank it. They will eventually have their own boat and will be safer then they are now.
They’re either in denial or they are deluded.
If your going to buy time you have to do something useful with that time, if you don’t it’s just going to get worse.
But we are already living that way, At least we could adopt , how about you americans?
Dont be silly,”we” Americans,get by day to day same as the rest of the world.
1% of the worlds population holds the worlds wealth.They are the ones who should answer for their greed.
OnePeace
Why hasn’t someone come up with a Plan to give the money to the people. There are 300,000,000 people in the US 10% of the people make $250,000 up to $30,000,000,000. All we need to do is for the government to give the people making the $250,00 and up a .5% pre tax credit. The 184,000,000 that make $150,000 and under would receive $12,500 per person.Watch MZIPPI123 on you tube, under Economic Crisis Plan. EXECELLENT COMMENTARY AND GREAT PLAN. All it took was one housewife to come up with it.