Peter Schiff: 'US economy heading for disaster'

[The Northerner]

Run time: 14:24 https://www.youtube.com/watch?v=xd23p22J620   Posted on YouTube: June 03, 2011 By YouTube Member: RTAmerica Views on YouTube: 307   Posted on DU: June 03, 2011 By DU Member: The Northerner Views on DU: 3053

 
America's credit rating is at risk, the unemployment is up and the residential real estate market has double dipped. Is it time to change the way the world economy works? "We are heading for a huge disaster," says Euro Pacific Capital President Peter Schiff. As the US dips from a recession to a depression, Schiff says, America needs to stop borrowing money if they want to prevent driving off the proverbial cliff.

[RBInMaine]

1. FUCK this nut. "We're in a depression." "Auto industry should have gone bankrupt." What a fuck-nut.

[RBInMaine]

2. Hey Northerner, why are you posting this SHIT here?

[TheWraith]

15. Some people really love this RussiaToday bullshit.

It's a clearinghouse for lunatics, bullshit conspiracy theories, and made-up crap, but it plays into some people's preconceived notions.

[FarLeftFist]

3. UN-Rec

[TrollBuster9090]

4. Umm...Peter Schiff has been predicting the US economy is heading for disaster...

CONTINUOULSLY, without even taking a breath, since about 1985. Even a broken clock is right twice a day.

For the last 30 years he's been preaching that the economy is headed for disaster because we haven't:

a) Gone back to the gold standard.
b) Used Austrian Economics, and
c) Converted the Federal Reserve building into a temple to Ayn Rand.

And since even a broken clock is right twice a day, he was right once. That was enough to keep the flying monkey squad from the Ludwig von Mises.org website flying for the next ten years. So now he's starting the continuous drone again, in preparation for the next disaster, whenver that may be.

[Jack Rabbit]

5. I think I just heard another Republican take on the economy

a slightly-more-reasonable-than-usual Republican take on the economy, but a Republican take nevertheless. It's just another case of no matter facts are, blame the Democrats.

Schiff, to his credit, didn't buy the rosy pictures of the economy that the Bushies were painting during the years the junta was in power. We may be headed for a disaster, but what we need is more stimulus and to eliminate (you read that right) entire industries like fossil fuels and private health insurance that are either living on borrowed time at taxpayers' expense or have a business model that ought to attract the attention the bunko squad from the local police department.

[jimlup]

6. Even a broken clock is right twice per day...

This guy is a right-wing hack... unrec!

sorry.

[JDPriestly]

7. It's people like this guy with his selfish overly simplistic

view of money and his complete lack of human values that have caused the economic problems in our country. He is grabbing his. Let everyone else step back while he takes it home.

What a pig.

The problem with our economy is that we allow imports into our country with next to no taxes. As a result, American workers cannot compete with workers in other countries.

What a bunch of nonsense it spews. His economic views no doubt earn HIM a lot of money. But they harm average Americans.

What pig. What a loser.

[creeksneakers2]

8. That female is hot!

Glad you posted this.

[postulater]

11. I didn't hear a word she said.

:evilgrin:

[ctsnowman]

12. LOL

NT

[ptownbro]

9. I agree with much of the comments already made on this one

This guy's view of how the U.S. and world economies work is completely wrong. I admit that I agree with his view that the U.S. economy may be headed for a disaster, but not for any of the reasons he stated... Corporate taxes are too high? Please!

[mwb970]

10. Isn't this the guy who always says this?

So he said it again. This isn't news.

[ctsnowman]

13. The UAW is the reason we are in deep...???

REALLY??? Not corporate greed? Nooooo of course not. Just those greedy workers wanting a roof over their head.

[Badsam]

14. Iraqi Dinar! Check it