Peter Schiff on CNBC: calls US econ giant ponzi scheme ready to collapse

reply to post by Dr Love

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Yeah!

I have to admit..it's a bit crazy to see the host of the show agree that the economy will tank!

Hey Bender
I agree, wow these peeps are hard on the eyes. Do you think all these oligarchs have the world's smallest johnsons too?

reply to post by alienstrangler

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Well they do seem to be over compensating in the most extreme way possible.

In other words, we're Capitalist.

Well duh. The entire point of the system is to siphon wealth from the bottom to the top, to concentrate it in the hands of the ultra-mobile who will be completely unaffected by the fallout

If you think that the Chinese are being paid in worthless dollars, think again. They are smarter than that, and they hold all the chips in this game. Wait until the dust settles, and you'll see just how much of this country that they end up owning in the end.

What is not being considered by "Mike" is that the GDP of the US is based on the previous year when the primary income of the US was through financial services - this year there are no longer financial services anywhere near the magnitude of previous GDP measures. The US has only ONE bank in the top ten as does the UK, last year it was all US and UK with one swiss. Now it is all Chinese, Swiss, and Australian.....

Further in the 1980's America had a productive manufacturing sector which is now completely gone - not only is there nothing to trade with - what was previously preoduced and traded with is now bought - a double whammy.

There you have it.

Oh my this guy is reading from a teleprompter... who ever was feeding him that line of bull# was a really fast typist and justly motivated for evils cause. Schiff was dead on..... although it is extremely hard today to differentiate the difference between disclosure and admiration. This was on the television and I truly believe nothing airs without a purpose or intention... so to me... everyone is waiting for something to happen, how do you feel about your debt? Is debt something the cosmos inherently knows about? I personally just laugh at the sheeple going baaaaaa..... the ones that still care more about the their front lawn then their own health... like who on freaking earth wants to spend more time working in their yard then on their consciousness? The homeowners associations says you must maintain your yard and make it appear presentable.. Al Gore says no you can't run your lawn mowers they destroy the ozone... someone please! "France" draw the line, even maybe a picture for all to see.

That guy sounded like he had an agenda. He didn't even try very hard to hide it. He was very quick to attack, to use snide remarks, and it just looked like he knew he was lying.

Screw these people, when the time comes, they will have to explain themselves to a higher power.

I just found something online on an economists blog. He stated that while Peter Schiff was right on the collapse of the market, he was wrong in the details. He failed to protect his investors and most of them are down 40-70%. The devil is in the details, you know. I think maybe we give this guy too much credit.

Here is the blog. I'd like to know what everyone else thinks. I was thinking this guy was an economist genius until I read this.

Link

i couldnt help noticing the fellow on the left had no clue what to say! His eyes were glued to his right...im guessing thats where the teleprompter was


but he got straight owned by schiff