Schiff on CNBC doing his thing
Part 1
Part 2
I’m scared.
You can’t give power to a government to ‘smooth out’ capitalism and not expect that power to be abused. People who crave exerting power over others are drawn to the process and eventually take over from the ‘nice’ people – much as the murderer wins over the pickpocket.
We will probably have two or three generations of increasing Socialism, followed by absolute tyranny. Of course, if the coming debt collapse is as bad as its shaping up to be, we get the tyranny right away.
I hope Schiff is wrong
[quote]pittbulll wrote:
I hope Schiff is wrong[/quote]
I know how you feel…
Mr. Schiff has to be right on basic principles. For example: the same old piece of real estate bid up by borrowed money cannot be a real increase in wealth; buying manufactured goods from elsewhere with borrowed money and then having an expanding service economy that does not substantially service those creditors (and therefore does not pay back the debt for the manufactured goods we consume) cannot be real economic health.
The only thing to hope is that it’s not going to hit as hard as he thinks; or hope that there is some countervailing factor he, you, and I are currently unaware of that will keep us out of the pit or mitigate its depth.
You people don’t seem to realise it is ~already~ as bad as he says, it just has not been realised yet.
You owe a lot of money. It will take a long time to pay it back. Stop spending. Pay it back. You won’t though and it will bite you this year.
The fools should shut up, or give back the bail-out money.
They don’t even have the decency to say “thank you” for the bail-out money?
Now they claim government is the disease and can only create chaos and inflation?
Who created the chaos before the government stepped in? Or was that a freak act of God?
[quote]Wreckless wrote:
Who created the chaos before the government stepped in? Or was that a freak act of God?[/quote]
The Government. It didn’t exactly just now start involving itself in market matters, after all.
Quite right. And can you please explain to me how they did that?
Are you one of these tough guys who don’t need the goverment? You don’t need roads, schools, firestations, cops?
Noooh, government is BAAAAD ! ! !
[quote]Wreckless wrote:
Quite right. And can you please explain to me how they did that?
Are you one of these tough guys who don’t need the goverment? You don’t need roads, schools, firestations, cops?
Noooh, government is BAAAAD ! ! ![/quote]
The fed. Providing the expectation of bailouts. And, pressuring lenders (or at least implying risk would be socialized) into participating in the great Home-ownership society expirement. If you don’t want a crap ton of pie and the sky risk taking, don’t create an enviroment in which folks think their failures will end up getting bailed out. And certainely don’t pressure/seduce lenders into risks they wouldn’t have otherwise taken.
[quote]Wreckless wrote:
Quite right. And can you please explain to me how they did that?
Are you one of these tough guys who don’t need the goverment? You don’t need roads, schools, firestations, cops?
Noooh, government is BAAAAD ! ! ![/quote]
If you are really interested in learning why start with one of the following:
Free to Choose - Milton Friedman
Economics 101 - Henry Haslett
The Politically Incorrect Guide to Capitalism
After one or more of these, you’ll be ready for the Austrians or Rothbard.
[quote]Wreckless wrote:
Quite right. And can you please explain to me how they did that?
Are you one of these tough guys who don’t need the goverment? You don’t need roads, schools, firestations, cops?
Noooh, government is BAAAAD ! ! ![/quote]
I’ll take the roads and firestations, easy on the cops, and hold the schools, at least in their current structure.
[quote]dhickey wrote:
Wreckless wrote:
Quite right. And can you please explain to me how they did that?
Are you one of these tough guys who don’t need the goverment? You don’t need roads, schools, firestations, cops?
Noooh, government is BAAAAD ! ! !
If you are really interested in learning why start with one of the following:
Free to Choose - Milton Friedman
Economics 101 - Henry Haslett
The Politically Incorrect Guide to Capitalism
After one or more of these, you’ll be ready for the Austrians or Rothbard.
[/quote]
Add Basic Economics by Thomas Sowell to that list too.
[quote]skaz05 wrote:
Schiff on CNBC doing his thing
Part 1
Part 2
I’m scared.[/quote]
Do not be afraid… the government will take care of you.
[quote]Wreckless wrote:
Quite right. And can you please explain to me how they did that?
Are you one of these tough guys who don’t need the goverment? You don’t need roads, schools, firestations, cops?
Noooh, government is BAAAAD ! ! ![/quote]
To compare roads, schools, and fire stations to the federal reserve and the current economic problems this country faces is laughable.
In order for the economy to begin to recover, the burden of debt has to be drastically reduced or eliminated. This happens either with inability to pay (deflation) or the debt is paid with paper money worth little (inflation).
In either case, our economy must collapse. Of the two choices, deflation is preferable. The paper money has value. In hyperinflation, only precious metals are trusted and that makes economic activity even harder than deflation. Who here has a lot of silver or gold, besides me?
sometimes i wonder if we aren’t reaching a point in this forum that borders on preaching to the choir
What really scares me is if we end being like the Weimar Republic.
[quote]jawara wrote:
What really scares me is if we end being like the Weimar Republic.[/quote]
The governor of the Reserve bank of Zimbabwe has actually publicly congratulated the US for following its lead in regards to monetary policy.
[quote]Regular Gonzalez wrote:
jawara wrote:
What really scares me is if we end being like the Weimar Republic.
The governor of the Reserve bank of Zimbabwe has actually publicly congratulated the US for following its lead in regards to monetary policy. [/quote]
You know what really pisses me off about that? For some reason we (Americans) seem to think that if we get approval from some other country its the greatest thing in the world. Who gives a damn about what Zimbabwe thinks of us? They suck!!!
You need like 400K of their dollars to buy a can of Coke, and some dumbass is like "Hey, Wow, Zimbabwe think we have great economic policy. Anyway, I got some some money in the bank, I’m gonna buy as much silver as I can with it tomorrow.