Peter Schiff - Recession/Bailout

[Fingers!]

Peter Schiff’s comments are dead-on! – Notice what he says about consumers’ fault…nothing.

 

2006:  (Who was right, who was wrong?)

http://www.youtube.com/watch?v=LfascZSTU4o&feature=related

 

Early 2008:

http://www.youtube.com/watch?v=drJ6QxSO5gw&feature=related

 

Now:

http://www.youtube.com/watch?v=iax_BsNICes&feature=related

[Fingers!]

It's funny that two guys are getting on tv and saying that our problem is "printing too much money" but they are constantly being told that they are wrong.  Yet, they are the ones who seem to be making all the accurate predictions - on spot!!  That first video way way back in 2006.  Everything he said was going to happen is happening right now. 

[Fenix]

It's funny that two guys are getting on tv and saying that our problem is "printing too much money" but they are constantly being told that they are wrong.  Yet, they are the ones who seem to be making all the accurate predictions - on spot!!  That first video way way back in 2006.  Everything he said was going to happen is happening right now. 

Thank you so much for the clips. I bet Ali Velchi (sp?) is eating his hat right about now.

I like the way Peter Schiff stuck to his guns and didn't bat an eyelid when he had been mocked over and over again. Now i bet folks are eating their hats and wishing they had listened to him. He very calmly explained his case and look at how right he was. It only took a matter of months for the US economy to unravel and the ugly underlying truth was laid bare for all to see.

I also like that term he used in the first clip "national credit card". This is what the US economy had been running on for the past decade. Someone should have been less greedy and tell these people who were looking for loans a big resounding NO! You simply cannot afford this and you don't have proof. Instead they were led into thinking they could and then their homes got appraised and they got this ridiculously high figure and were told that they can borrow against it. Now look where we are: saddled with an incredible debt-load and the jobs that we were hoping we could use to pay off the debt are slipping away. More than 700,000 jobs have been lost this year alone!

Oh and in case anyone is looking to either McCain or Bush to solve our economic crisis, look further and above them. Only God's grace can help us. People don't realize how little power the president actually has over the economy.

I'd better stop now cuz i am getting angry. i could go on.

[LaylaMonroe]

I can't believe I actually watched (well, listened to while getting ready for bed) all three of those clips.

Of course, my brain is fried now, so I'll have to respond tomorrow.

Good stuff, though.  Thanks for the clips, Fingers.  For the record, I don't think that last one is actually "now."  The Dow is upward of 13,000 and they quoted the price of oil at $125/barrel... that may have been a little over a month ago.

[B3Wannabe]

^^^ Exactly.

[Fingers!]

I can't believe I actually watched (well, listened to while getting ready for bed) all three of those clips.

Of course, my brain is fried now, so I'll have to respond tomorrow.

Good stuff, though.  Thanks for the clips, Fingers.  For the record, I don't think that last one is actually "now."   The Dow is upward of 13,000 and they quoted the price of oil at $125/barrel... that may have been a little over a month ago.

Yep.  You're right.  That was actually about June.

[Fingers!]

Thank you so much for the clips. I bet Ali Velchi (sp?) is eating his hat right about now.

I like the way Peter Schiff stuck to his guns and didn't bat an eyelid when he had been mocked over and over again. Now i bet folks are eating their hats and wishing they had listened to him. He very calmly explained his case and look at how right he was. It only took a matter of months for the US economy to unravel and the ugly underlying truth was laid bare for all to see.

I also like that term he used in the first clip "national credit card". This is what the US economy had been running on for the past decade. Someone should have been less greedy and tell these people who were looking for loans a big resounding NO! You simply cannot afford this and you don't have proof. Instead they were led into thinking they could and then their homes got appraised and they got this ridiculously high figure and were told that they can borrow against it. Now look where we are: saddled with an incredible debt-load and the jobs that we were hoping we could use to pay off the debt are slipping away. More than 700,000 jobs have been lost this year alone!

Oh and in case anyone is looking to either McCain or Bush to solve our economic crisis, look further and above them. Only God's grace can help us. People don't realize how little power the president actually has over the economy.

I'd better stop now cuz i am getting angry. i could go on.

Meanwhile, back in DC-ville, Henry Poulson is asking... ah, no. He don't have to ask anymore.  Congress gave him the power against the Peoples' will.  He's telling us that he's going to create another stimulus package. 

And he's handing all this money to his protege name KashKari.  Now this really bothers me.  It might be just one big coincidence (coincidence after coincidence after coincidence).  But I feel that they're just rubbing our faces all up in this mess.  Like, this Kashkari.  Take a visual look at his name.  Doesn't it look like Cash-Carry?  So, you're going to take all our money and hand it over to some guy name Cash-Carry...  I know the pronunciation is different but...it still bothers me.