Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

.....the USA is not in the Bible...

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

Maybe he thinks we're Babylon. Or Rome. Or he's reading the Mormon Bible.


:cap: :cap: :cap:

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

Peter Schiff testifies before Congress on the economy and knocks it outta the PARK!! Must see video:

Part 1:


Part 2:

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

post the vids properly.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

I got nothing against Schiff. But god damn that guy is shrill and stubborn as hell. I much prefer Marc Faber, as he is more jovial.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

Fixed. This guy is a shill for the T-publican and Libertarian party and is out there saying what they want the American Public to hear. The truth of the matter is that Government spending has got us out of every recession and every depression we were in. It is not the equivalent of pouring gasoline on a fire (which, on the contrary does work when it is a controlled burn), but rather a jolt of electricity (a stimulus) - especially when it is distributed in the right way. In fact it is a basic principal of business to invest money in order to profit later on.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

:dry: :lmao:

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

Like lighting a ****ing match in the middle of a gun powder refinery.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

As one of Ron Paul's staffers told me the other night "the way the Pope is sort of catholic, Peter Schiff is sort of an *******". Though apparently he is much nicer in person.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

UPDATE: FEDERAL RESERVCE LAUNCHES "OPERATION TWIST"
http://money.cnn.com/2011/09/21/news...wist/index.htm

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

Schiff's stubbornness is going to cost him dearly. With the **** going down in Europe and the fact China is probably going to tank by year end, he is going to have a lot of unhappy clients.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

On the bright side, George Soros got owned.

75% in cash now. Hahaha too late.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

China tanking by year's end? :huh:

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

He can see the future...

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

Dox is very knowledgeable on all things economic, I'm just wondering what brought him to the conclusion that China will tank.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

From what I've gathered, China seems to have a lot of the problems building up that caused our financial crisis back in 2008. Lots of people taking loans that they can't pay back from mortgages. But villages and towns are also taking a lot of loans and it's become obvious that they can't pay them back either. And then of course China itself has invested in a lot of debt around the world, and some of those countries, particularly in the Eurozone (Greece, Italy, Spain, Portugal, Ireland), are looking more and more likely to default.

In my opinion, China is facing a massive debt crisis.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

Go **** yourself Bernanke.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

Lots of material on it. There is China's use of municipalities to hide their bad data. The real estate bubble there.

Chanos on China at Bloomberg as well.

Hugh Hendry Is Killing It Shorting China This YearAll the **** that is happening in Europe and all those Congressional hijinks this could be the big story in the coming months. I dunno how this will affect the United States if it occurs. I am just trying to grasp on and wrap my mind around it.

This is where I divorce myself heavily from the libertarians as far as inflation and China goes. There is a lot going on empirically. Evidence points to strengthening USD as perverted as it may seem. I am a deflationist bear.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

China has been hiding their deficits real well. But us cold capitalist pigs know better than that :woot:

Municipalities = SIV (think off balance sheet ********)

Ron Paul is going to look bad if the deflation theory continues to pick up steam. He is completely neglecting credit destruction and money velocity, and he still screams inflation. He at best glosses on money velocity. So all that RP fans doing the "he saw it coming" will have a lot to explaining to do when the dollar index torpedoes and countries don't "decouple". FACTS speak for themselves. There are austrian economists (think of them as minorities within minorities) who see this.

Gold and silver is still good in deflation. But the greenback will rain supreme. Hugh more or less has come to a similar conclusion and he has been killing it. His bottom line speaks for itself.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

Thanks for the explanation hippie and Dox. :up:

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

POLL: MAJORITY NOW BLAME PRESIDENT OBAMA FOR ECONOMY
http://politicalticker.blogs.cnn.com...a-for-economy/

Ouch.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

He doesn't deserve all the blame, but he does deserve a lot.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

That was not the cause of the housing bubble. 93% of home mortgages in this country, at that time in 2008, was paid ontime. NBC Nightly News with Brian Willaims reporting the same thing. They however reported 92%, with 3% over 6 months pass due, and 6% less than 3 months pass due. Failed mortgages was a lie, and blamed on the American people to covers the Investers asses and cause class warfare with citizen pointing fingers at other citizens, instead of the real culprits.

It was cause by investers over building and and flooding the housing market with new homes(constructions); yet, not being able to sell those properties. Whole communities(new, suburbia) left vacant will little to no tennants. The Banks are blaming the American people for their greed. You and many other who believe that failed mortgages is the cause of the housing bubble, are just adding to that deception. Everything is being reported as the American People fault. Yet, banksters, politicians, Wall Street, and corporation unethical and illegal acts, have yet to see any prosecution.

2% of failed mortgages are far from large enough to bring down the Housing Market. Come on.

Re: Discussion: The Economy, National Debt, And Other Financial Issues II
 

Damn....:dry: just depressing. I'm in this boat.

http://www.cbsnews.com/stories/2011/...='nofollow

Nationwide, employment among young adults 16-29 stood at 55.3 percent, down from 67.3 percent in 2000 and the lowest since the end of World War II.

And more people my age live at home. :csad: