Discussion in 'Economy' started by Kevin_Kennedy, Mar 25, 2009.
He explains it all in very simple terms, very good video.
Excellent analysis, and prognosis.
I don't want to go back over the posts that I have been writing for several weeks, but it seems that Schiff is espousing Conservative principles.
He is correct about what we have done wrong, and what we will have to do to correct it, and it spotlights how evil the Obama plan is. Reagan, and Clinton took unpopular steps early in their administrations to set the country on the right path, and this president must know that he could make the hard calls now, correct the problems, and still be re-elected, but instead this ilk would rather use the crisis to institute an ideological structure.
I would hope that the people see what is happening, and put the brakes on in '10, but note how many bright individuals on this board have the Obama/Democrat/liberal dogma so intimately intertwined in their persona that they cannot- yet- admit the errors of this ideology.
Keep on posting this kind of video. Madison said "Education is the true foundation of civil liberty."
why do people say schiff was THE ONE to see this problem when in fact meredith whitney was the first one to warn people about citi back in 2007 and so the banking problem as far back as 2006.
schiff has been right about some things are wrong on others.
Clearly you didn't watch the video. They talk about how he was talking about this crisis back in 2005. Schiff and other Austrians have been predicting this recession for many years.
First of all I think the guy makes sense about how and why we're in this mess.
HOWEVER when he says:
We will have to suffer...
Do bear in mind exactly the extent of the suffering he's talking about
consider that he and his ilk will not be doing that suffering.
But millions upon million of American will be suffering, and I do NOT mean, they won't get to Disneyland this year...I mean they'll be homeless and those of you lucky enough NOT to be will be the soft targets, too.
The reason that doing NOTHING is politically untenable, is because doing NOTHING will disenfranchise one hell of a lot of people (some of them very likely on this board) who are armed, dangerous and already pretty much over the edge, anyway.
I suspect, given the state that our economy was in before the meltdown, that doing nothing will make the GREAT DEPRESSION seem insignificant by comparison.
Do nothing and America's cities will burn cause that's where the first wave of doing nothing will do something like stripping civil authority of its vice-like clamp on the vermin.
Do nothing and some of you will discover that your guns and ammo will not be targeted at those liberals neighbors some of you cyber-revolutionaries love to think about offing, but at organized criminal sociopathic pukes who are no less familiar with guns, and far more familiar with assassination that most of you punk assed gun queers are ever gonna be.
Yeah, that might work to get the kinks out of this society, I definitely agree with that theory.
Sometimes, like some of you I actually long for that rush of freedom, too, incidently, although I try to keep my rage under control. That is why, in some small part I don't actually own a weapon ....yet.
But I think I know what follows "doing nothing" and AUSTRIAN school economics will NOT be on the agenda.
You boys think your "skill sets" as computer nerds engineers and laywers are going to be much in demand when half the US population is starving?
Dream the fuck on boys, civil wars are equal opportunity disasters.
You're right that doing nothing would be bad for a lot of people, but the alternative is even worse. You don't give a drug addict drugs just because detoxing is an unpleasant experience.
He really didn't think his spin through, the main problem I had listening to him was what Barnacle asked. How can people save when they don't have a job? They can't, they will be out on the streets. Entire families will be.
He said it would be tough. Ha! Try impossible.
Losing your job is always tough, no doubt about that. However, just to reiterate, the alternative is worse. Propping up a phony economy won't work, and they're simply making the problem worse. Which means that more people will lose their job when the correction finally comes.
It's a noble effort Kevin, but you know Sarah isn't listening. She'll be one of the ones who's completely content with what the government has done, as long as the reflation is successful. Then for maybe another 5 years we'll have some decent "growth" before the next bubble is over-inflated.
The simple way to look at it is, the banks are stuffed to the gills with an unprecedented amount of reserves, and there's trillions of dollars sitting on the sidelines waiting to be re-invested.
Where do we think all this money is going to go? Do we think that somehow THIS TIME it will miraculously be diversified responsibly by the investment collective? I mean, we have no precedent to really go on regarding such a thing, but we'll hope for the best anyway.
Personally, I think the next bubble that bursts will be the US Dollar.
i disagree that the next bubble will the dollar. the next bubble just might be this same problem. we all know the same people will find a way to screw it up again.
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