Colin McEnroe Show: Peter Schiff

I already left and moved to

I already left and moved to another country because I knew and know the very predictable behaviour of the moron US politican. You guys are headed for a long-term depression when the RMB Chinese currency rises in value and you can't buy cheap Chinese goods and contraction is fully realized. Get ready for inflation because those pinhead politicians will just print money to save their own asses. Mark my words.

Good interview

Good interviewer.

It's crazy how messed up our country is financially and how little most people are worried about it. Does anyone spend one minute thinking about how their future will be when the Soc Sec they are counting on can't be borrowed from China anymore? Wake up people!

As perfect a legislator as I think Peter Schiff would be I just think that the chickens are coming home to roost of decades of public control of education. People understand less than nothing about economics and are content to believe it when the politicians tell them that we can just keep spending with no limits, and everything will be ok. Everything will be OK, right up to the point that we fall off the cliff.

I only disagreed w/ Peter on one thing, that people will leave this country if things keep going badly. Where will they go? The rest of the world is screwed up as well.

Karl in Bloomfield is right

Karl in Bloomfield is right by golly. I got over $1,000 stuffed in a sock and I ain't spendin' it 'cept in case of ekernomic collapse. And that Krugman is so dead-on right he's UNBELIEVABLE.

Tell you what, Karl, check back in a couple years if you are still alive and tell me what you think of Peter Schiff. The pain you see in the "tens of millions" of middle-class Americans is insignificant compared to what's coming. Try to imagine no electricity, no water system, no fuel at gas stations, no food at grocery stores, all banks closed, large armed gangs pillaging one neighborhood after another, diseases run rampant. That's what can happen in a full-blown economic collapse and even with Schiff in the senate it's more likely than not.

"Please, please, please get

"Please, please, please get in a Paul Krugman or somebody to shut this man up with regard to inflation and demand."

-- Peter has already addressed Paul Krugman's nonsense here: http://europac.net/externalframeset.asp?from=home&id=18508&
type=schiff. It is Krugman that refuses to respond.

"...deficit that the right wing didn't give a crap about during the last decade."

-- Peter has been strongly critical of the Bush administration's ridiculous spending. In fact, here is a scathing commentary written by Peter in 2006 about the financier of the Bush deficits, Alan Greenspan: http://www.europac.net/externalframeset.asp?id=3927&type=schiff

Gah, you are completely

Gah, you are completely blind.
THe government and individuals have spent to much. They dont produce enough to consume. When its a recession they try to save, underconsume, so they can invest in the future. Growt and investments come from savings. They are putting their house in order. If the government just tries to prop everything up, it just prolongs the pain and makes the bust even worse. The downturn is the correction of the boom. If governments could help the economy by just spending, why not stimulate more or all the time? Why cant an individual just as well borrow a million and spend it? Simply put the money need to be invested in something that can generate back the cost of it and potentionally go with a surplus (like a factory or infrastructure taht actually increases business output). Usually the free market takes care of that. There is gain in building a bridge to nowhere.
As for social security, its at the point Bernie Madoff had to turn himself in. Its running negative. It was always a ponzi scheme since the money were spent a long time ago. Only reason it keeps going is that government forces ppl to buy into it. If no reform is made then ultimatly the checks wont have any value cause you wipe out the currency. So instead of some losing their money, you have entire gererations getting nothing.

E-mail from Karl

Great. Another inflation hack. I mean hawk.

Please, please, please get in a Paul Krugman or somebody to shut this man up with regard to inflation and demand. We are in recession because people aren't spending money; individuals (the great bulk of which didn't get a raise in the last "recovery") don't have it to spend, and businesses aren't in the business of spending money for demand that doesn't exist. Given this no-demand state, why would banks kill themselves to lend money?

During recessions, when nobody else is pumping money into the economy, governments do this. Reliable economists have written that the federal "stimulus" combined with shrinking gov't expenditures on the state and local levels have resulted in just a bump of spending, not nearly the OH NOES TRILLION!!!111one!!! deficit that the right wing didn't give a crap about during the last decade.

Which mining and oil-drilling rules are crushing the economy right now?
How many tens of millions of people who have paid into Social Security are you willing to throw under the bridge to keep the threat of inflation away?

I'm a detractor who says: I don't care what Schiff's strategy does in one year or five years for people who have the means to be his clients, or play along at home. If you want to be in government, you don't get to jettison the too-poor-to-play folks out the door as if you were running a casino.

Karl in Bloomfield

PS "Would have been painful"? It is painful to tens of millions of middle-class America, fool.