Hey libs, let Peter Schiff educate you on 9-9-9 and OWS

Discussion in 'Politics' started by Liberty, Oct 15, 2011.

  1. Liberty
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    Liberty Silver Member

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    [ame=http://www.youtube.com/watch?v=7iJvtQpyx1A]Herman Cain's 9-9-9 plan, Occupy Wall Street - YouTube[/ame]
     
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  2. 8537
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    8537 Senior Member

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    He was wrong about hyperinflation.

    He was wrong about the dollar.

    He was wrong about China

    He as wrong about US Treasuries.

    Remind me why we should think he's right about 999?
     
  3. Liberty
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    Liberty Silver Member

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    he was right about the housing bubble. the others have yet to burst.
     
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    He and dozens of other economists were right about the housing bubble.
     
  5. Liberty
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    name two. If so many economists were right about it, how come EVERY economist in the Bush administration and in Freddie/Fannie Dodd/Frank was wrong?
     
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  7. 8537
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    8537 Senior Member

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    Meredith Whitney
    Noureill Roubini (Neo-Keynesian)- in 2006
    Peter Shiller (post-Keynesian) - in 2005
    Dean Baker - circa 2002.
    Nassim Taleb
    Hyman Minsky (The original American Post-Keynesian)
    Ken Rogoff

    ....I could go on, but there's a start. There are - literally - dozens more that can be found with a touch of research.

    The Bush administration economists were wrong because they were...Bush administration economists. I'm not sure that requires explanation. Ditto, GSE Economists.
     
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  8. Liberty
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    ok, so answer my question then smarty pants. where were the smart ones in DC telling the federal reserve and congress to stop the artificially low interest rates and what not? Hm? Where were the economists that actually had power? Hm?
     
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    I did answer your question. Shall we move those goalposts just a wee-bit further? I never said anything about economists in DC or within The Fed.

    ...But it wasn't "artificially low interest rates" that caused the problem. It was artificially inflated capital ratios.
     
  10. Liberty
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    Liberty Silver Member

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    tomatoes, tomahtoes.

    the point is, no one stopped the problem, they let it burst. Schiff is one of the VAST MINORITY that said hold on to your hats, thus he has credibility.
     

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