Originally posted by dreamingtree

What I don't understand is why he would tell people to save in a time of recession.

I think his point is we have lived on credit as a means of ordinary living for far too long. Just spending the money you earn and not borrowing more would be a good baby step. The Bailouts and Stimulus packages are just fancy ways of extending the credit mentality. That needs to stop. Will it be painful, darn right it will. But we will reemerge stronger for the long haul.

[edit on 24-11-2008 by pavil]

peter schiff and ron paul are alway speaking on deaf ears. i love that one video posted on here with schiff talking about real estate and that dude with ponytail just pretty much laughs in schiffs face. well look what happened. thats the problem with most americans(and yes im american) they think that it cant happen to them. well i hope it doesnt happen but being a realist im stocking up and food and ammo. better to be safe than sorry right?

We're attempting to get Peter on an ATS MIX interview, and are getting pretty close... essentially "our people are talking to his people" about a mutual time that will work. If we work out a good time, you'll be able to post your questions for him.

Stay tuned.

Originally posted by SkepticOverlord
We're attempting to get Peter on an ATS MIX interview, and are getting pretty close... essentially "our people are talking to his people" about a mutual time that will work. If we work out a good time, you'll be able to post your questions for him.

Stay tuned.

Oh Man if you do that Ill shake your hands. I was just emailing back and forth with his peeps today. Getting a hold of Schiff is like pulling fingernails.

Originally posted by SkepticOverlord
We're attempting to get Peter on an ATS MIX interview, and are getting pretty close... essentially "our people are talking to his people" about a mutual time that will work. If we work out a good time, you'll be able to post your questions for him.

Stay tuned.

dude that would be flippin awesome. ive been following schiff for a while now.im sure there will be a lot of good, real issue questions asked by my fellow ats members.

Whatever happened to that guy in the pony tail? I imagine his house got foreclosed on and he's trying to find a job. I don't think he's laughing now. I just wish people in washington would start listening to Ron Paul and Shciff. It'd be a step in the right direction instead of this never ending bailout plan.

Originally posted by dreamingtree

I'm actually an undergrad in economics at the university of Wisconsin applying for grad school soon and I have yet to take one class that agrees with the some of the terrible and misleading/uneducated information that I read on this site.

Sure, there is a lot of of bad advice EVERYWHERE, not just here at ATS. I was almost laughed at by about 55% of my clients when I told them to get completely out of the Market at the end of last year and just move to guaranteed vehicles for the next couple years. My favorite saying was "does anyone really think Google is worth $700 a share" (it's at $262 today)? I told them "better to make a little, than lose a lot". The other 45% listened to me either entirely or somewhat, guess which group is the one crying to me now? A good chunk of the 45% still have most their full portfolios intact (minus real estate of course, couldn't help them on that). The 55% are "revisiting their goals" to put it nicely.

Greed does funny things to one's perception of reality.

If Ron wanted to get serious with the fed, next time he's quesitoning Bernacke he could offer to resign in exchange for a look at the ALL of the FED's books. It'd get some publicity. Just an idea.

Originally posted by pavil

Originally posted by dreamingtree

I'm actually an undergrad in economics at the university of Wisconsin applying for grad school soon and I have yet to take one class that agrees with the some of the terrible and misleading/uneducated information that I read on this site.

Sure, there is a lot of of bad advice EVERYWHERE, not just here at ATS. I was almost laughed at by about 55% of my clients when I told them to get completely out of the Market at the end of last year and just move to guaranteed vehicles for the next couple years. My favorite saying was "does anyone really think Google is worth $700 a share" (it's at $262 today)? I told them "better to make a little, than lose a lot". The other 45% listened to me either entirely or somewhat, guess which group is the one crying to me now? A good chunk of the 45% still have most their full portfolios intact (minus real estate of course, couldn't help them on that). The 55% are "revisiting their goals" to put it nicely.

Greed does funny things to one's perception of reality.

i took some economics classes in college and they used g.m and ford as business examples. lol

you know when they cut you off that you are onto something good. Truth hasits ways of revealing itself, and secrets will come out adventually. CNN is just another puppet like fox news and the many others out there. The reality is that the system will fail, more debt to bail out debt, seems like it is in the final stages before total collapse. then what? What do we do next? I wish i had the answer to that question, do any of us. We all new this would come, but this soon. Can we afford to wait any longer? I think its time for the idea of the resource based economy. Granted it would not be a true resouce based economy due to the fact the monitary system is all around and you would have to deal with monitary people and communities, but to have a community in itself run on resource based system could happen. Granted nothing is perfect? What else does one do? We could get rid of the federal reserve and its system. The fact of the matter is we are all slaves. True slaves require to be housed and fed, econimic slavery requires us to feed and house ourselves. I found that to be a great quote. Where do we go from here? Seems like i have more questions than answers. Unless a mass of us can get together and do something, one voice is silent amongst the eninges of society.

Originally posted by Gateway

Your definition of greed is correct. (It is greed when companies ask for Bail-outs, subsidies, or protectionism) Unfortunately, people here are using the term greed loosely to mean anything that means profit taking. As if greed was synonymous with the word capitalism.

We havent been living in capitalism though. We have been living in some hybrid form of Socialism or Fascism. Im leaning more towards Fascism in the Mussolini form because of the collusion between government and the multi nationals which is now more obvious than ever now that we see these bailouts. The fact is I shouldnt get a bailout, the autos shouldnt, the banks shouldnt, and neither should the airlines. But the irony though and this is where the greed comes into play is we have seen these execs pay themselves crazy amounts of money and to do this they will ship jobs over seas to save money instead of putting to work good Americans. Now a lot of those same companies that have been doing this is on the verge of failure. You dont see them offering to take pay cuts. No No cost cutting on their ends. This is what disgusts me personally. Where is the sense of patriotism? I mean as an American. They should be allowed to fail period.

Peter Schiff has taught me more than he will ever know. It was him and Ron Paul who got me to start learning about economics and money.