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Who to trust in mainstream economic news?; Peter Schiff seems pretty honest
Topic Started: Nov 13 2008, 03:47 PM (457 Views)
esopxe
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These a-holes just snicker and laugh at him.
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Reggie_perrin

Those idiot talking heads probably still won't admit Schiff was right, thats the type of people they are, they don't want to accept reality,

This one is funny, they're all laughing and shouting Schiff down as he lays out the truth. That idiotic guy on fox even tries to claims Schiff is un-American and says the economy is sound, fucking retard . :blush:


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mynameis
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Internet Jujitsu
The first guy tells the truth. I think that there are essays on economics by John Stuart Mill that touch the base of what these guys in the Chicago School of Economics don't want to hear, which is the truth about cash liquidity and the money protection.

http://en.wikipedia.org/wiki/Quantity_theory_of_money
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hiphopopotamus
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esopxe
Nov 13 2008, 03:47 PM


These a-holes just snicker and laugh at him.
I don't know how you can have a rational discussion about the economy, when you purport one of the mainstays of our own (The Federal Reserve) is something other than an economic institution. I guarantee Peter Schiff doesn't hold those same beliefs.


As far as Peter Schiff's predictions, yeah he was right. And so were so very many other economists. What matters now isn't who was right, but what we're going to do. Schiff belongs to Hayek school of thought, that a free market will correct itself and government intervention is bad. Well, the free market is the very reason why we're in such a bad recession. Obviously letting it run its course will just put us further in the hole before it gets better. Personally, I would rather avoid a ten year depression. If Keynes is correct, and it certainly appear he was with the recent events, we are in a liquidity trap. The only fix is a massive increase in the government deficit (either through huge tax cuts or monumental government spending), or if you want to go the Bernanke route have a huge increase in government spending and just print all of the money the government needs. When a nation is faced with debilitating deflation and the greatest financial crisis since the Great Depression, people need to forget about debt and inflation and worry about long term growth. We are already predicted to have double digit unemployment by this time next year, and that is if nothing gets worse.

This truly is a good moment for Obama (in a 'you have cancer but its treatable' kind of way); he can lower taxes and spend anything he wants and be supported by a majority of economists on that being the correct course of action.
Edited by hiphopopotamus, Nov 14 2008, 03:52 PM.
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Travis
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Hipho its not a free market if a few control it.
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esopxe
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hiphopopotamus
Nov 14 2008, 03:51 PM
esopxe
Nov 13 2008, 03:47 PM


These a-holes just snicker and laugh at him.
I don't know how you can have a rational discussion about the economy, when you purport one of the mainstays of our own (The Federal Reserve) is something other than an economic institution. I guarantee Peter Schiff doesn't hold those same beliefs.




Well it appears that Schiff wouldn't mind if the FED was abolished so he must not consider the FED the fine institution that I presume you do.

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sj1
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Quote:
 
Who to trust in mainstream economic news?; Peter Schiff seems pretty honest


Guest: Ron Paul B-)
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hiphopopotamus
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esopxe
Nov 14 2008, 08:14 PM
Well it appears that Schiff wouldn't mind if the FED was abolished so he must not consider the FED the fine institution that I presume you do.
He doesn't consider a 'bad' institution if that's what you're insinuating. Like I wrote before, he belongs to the Hayek school of thought on economics; the free market reigns supreme. He feels the Fed actions are counter intuitive to the way the economy should run. Not that the fed has some ulterior motives for its actions.

Many economists see recent events as validation of Keynesian theory (seeing as a lack of regulation is a cause for a number of the serious issues plaguing the economy), and Keynes' felt strongly that Central Banks controlling the interest rates through the money supply. On a side note, secrecy is paramount to a successful central bank. Expectations are a huge part of economic theory, and without some shield from the public eye expectations based on nonbinding discussion could prove a disaster.

I know the lack of transparency is a major issue for a lot of people, but secrecy is an effective tool to protect a central banks influence on the interest rates. Think of it like the secrecy that surrounds our nuclear weapons, the lack of knowledge helps protect its ability to protect us.
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Reggie_perrin

hiphopopotamus
Nov 14 2008, 03:51 PM
esopxe
Nov 13 2008, 03:47 PM


These a-holes just snicker and laugh at him.
I don't know how you can have a rational discussion about the economy, when you purport one of the mainstays of our own (The Federal Reserve) is something other than an economic institution. I guarantee Peter Schiff doesn't hold those same beliefs.


As far as Peter Schiff's predictions, yeah he was right. And so were so very many other economists. What matters now isn't who was right, but what we're going to do. Schiff belongs to Hayek school of thought, that a free market will correct itself and government intervention is bad. Well, the free market is the very reason why we're in such a bad recession. Obviously letting it run its course will just put us further in the hole before it gets better. Personally, I would rather avoid a ten year depression. If Keynes is correct, and it certainly appear he was with the recent events, we are in a liquidity trap. The only fix is a massive increase in the government deficit (either through huge tax cuts or monumental government spending), or if you want to go the Bernanke route have a huge increase in government spending and just print all of the money the government needs. When a nation is faced with debilitating deflation and the greatest financial crisis since the Great Depression, people need to forget about debt and inflation and worry about long term growth. We are already predicted to have double digit unemployment by this time next year, and that is if nothing gets worse.

This truly is a good moment for Obama (in a 'you have cancer but its treatable' kind of way); he can lower taxes and spend anything he wants and be supported by a majority of economists on that being the correct course of action.
Except it never has been a truly laissez faire free market, so stop trying to blame it for what has happened, the problem is there has been to MUCH intervention in the past, and it's distorted the market. For instance, take Ronald Reagan, the supposed hero for "fiscal conservatives", when in actual fact he was one of the biggest protectionist presidents in history, it ALWAYS been socialism for the rich and crony capitalism. The current problems are not the fault of free market capitalism, how can it be when there never has been one. Stick your Keynesian rants up your arse.

Yeh, Obama and his idiotic team of Keyensian morons are going to save the day, haaaaaahahahah. :ouch:
Edited by Reggie_perrin, Nov 16 2008, 01:31 PM.
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hiphopopotamus
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Reggie_perrin
Nov 16 2008, 01:25 PM
Except it never has been a truly laissez faire free market, so stop trying to blame it for what has happened, the problem is there has been to MUCH intervention in the past, and it's distorted the market. For instance, take Ronald Reagan, the supposed hero for "fiscal conservatives", when in actual fact he was one of the biggest protectionist presidents in history, it ALWAYS been socialism for the rich and crony capitalism. The current problems are not the fault of free market capitalism, how can it be when there never has been one. Stick your Keynesian rants up your arse.

Yeh, Obama and his idiotic team of Keyensian morons are going to save the day, haaaaaahahahah. :ouch:
You're absolutely correct, the subprime mortgage problem was caused by nonexistent regulations. That makes perfect sense. Now let me try and get to my search for the monster in my closet.
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esopxe
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Peter Schiff gets cut-off at the end. Looks like they had enough of him.

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Travis
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This guy seems to speaking 'some' sense,




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