Comments on: Peter Schiff Video Blog – Sovereign debt crisis and Greece defaulting 04 Feb 2010

By: lukerlunker

lukerlunker — Fri, 26 Feb 2010 20:25:31 +0000

The world will …
The world will always crave paper.

Lets dissect that argument. Lunacy.

People crave money for money’s sake, not for productivity’s sake. Sadly that’s true. That is why this is a massive bubble.

The mortgage crisis has just begun.? Mortgages are for 15 to 30 years. Sub-prime started in 2000. We are maybe half through defaults. Mortgages will also reset, this means higher monthly payments in coming years. We have only expanded our credit card, and I’m telling you, it ain’t American Express.

By: nickrhill

nickrhill — Fri, 26 Feb 2010 20:25:30 +0000

Is government right …
Is government right to make future promises for when they are out of office, which can’t be funded under the present arrangements in order to boost receipts on the day? If the gov’t is not right, should there be any limits?

If taxation is the answer, then is randomly high taxation today for spending yesterday sustainable?

Is there a ‘goldilocks’ level of taxation? What bad effects happen to the economy when taxation goes up? Eg, Do entrepreneurs move abroad?

By: voicefromthegrave

voicefromthegrave — Fri, 26 Feb 2010 20:25:29 +0000

@nickrhill When …
@nickrhill When taxation goes up, people work less. Businesses hire less employees, and employees are less motivated to earn higher pay. Most of our productive businesses have already gone overseas due to high taxes, regulations, and an overvalued dollar. The service sector still exists because that’s the one sector that can’t be outsourced easily. Immigration is a problem because when people work here scrubbing toilets and send their overvalued dollars back home, they become quite wealthy.

By: voicefromthegrave

voicefromthegrave — Fri, 26 Feb 2010 20:25:28 +0000

@mkc681 How did you …
@mkc681 How did you pull that one off? Unless you are carrying over business/real-estate/stock losses from the previous year.

By: Syphalis1

Syphalis1 — Fri, 26 Feb 2010 20:25:27 +0000

Real unemployment …
Real unemployment is very close to 20% when you take in account people who stopped looking for work and those who are underemployed.
Most small business credit HAS evaporated. I visited 6 banks to inquire about financing, and they ALL laughed at me.

There is no evidence that we would be in depression except claims from the firms we bailed out. They are just companies. It is by propping them up when the creative-destruction of capitalism says they should fail that will lead to depression.

By: herzogsbuick

herzogsbuick — Fri, 26 Feb 2010 20:25:26 +0000

Cheers Peter
Cheers Peter

By: akathetruthteller

akathetruthteller — Fri, 26 Feb 2010 20:25:25 +0000

this guy is pretty …
this guy is pretty much out of the CT senate race.
his idea doesn’t sell in politics.

By: girardbcp

girardbcp — Fri, 26 Feb 2010 20:25:24 +0000

This is the word …
This is the word you need to know: Deregulation. The phrase: Deregulation caused the recession.

By: yushaos

yushaos — Fri, 26 Feb 2010 20:25:23 +0000

Peter Schiff for …
Peter Schiff for senate 2010!

By: shahen13

shahen13 — Fri, 26 Feb 2010 20:25:22 +0000

Peter Schiff hates …
Peter Schiff hates the US. He should be tarred, feathered and run out of the country.