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The Next Depression?

More at therealnews.com With markets in free fall, economist Peter Schiff opposes stimulus and printing money to fund it

Tags: Depression, peter schiff, stimulus, printing money, Next

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25 Comments

Talk about fear mongering…We need look no further than Europe (Greece, England) to see what out-of-control Government spending will do. Look, Reagan inherited almost a big a mess from Carter and turned it around by doing the direct opposite of what Obama is doing. Bill Clinton would’ve been a one term failure had he not had Conservatives in Congress and some good advisors (which Obama doesn’t have) urging him to stop spending.


Nobody needs to be purged, fool.
The planet could easily handle fifty times the populous without destroying the environment if you just managed yourselves intelligently. Transportation could be pollution free right now, farms could be automated and stacked in towers creating enough to feed the world right now, technology today could illuminate 99.9% of the labor force right now, energy could be free to the world right now.
But there’s no profit in these things, so we’re all going to die instead.


It is greed that rules and needs that go unmet today.
The vast majority of countries that we purchase raw materials from are in poverty because of us. We send in a salesman to negotiate a deal on the goods and the result is that we buy every natural resource at criminally low prices. Like when we traded the Native Americans cigars for their land.
Now entire countries starve while the leisurely rich take their resources and 1 American employee and mass manufacture plastic cars.


@WHollabaugh no thats not true not all people are lazy this is why i didnt respond to that you cant purge 1 person just because 10 do what shouldnt be done and plus one person can change the minds of mliions what can say though people are extremely stupid and sheep like
no correction they are sheep


Do you not know how to read? My assertion that the monetary system needs to be replaced by a more advanced method of bookkeeping could easily be restated as “Capitolism is ruining everything of true value in the world and needs to go away.”
People are lazy though, sorry, but it’s just a sociological fact that people are naturally prone to laziness. Our tendency to purchase useless crap is because of marketing and the billions that have spent to find out what will make you buy a product.


@WHollabaugh let me quote one of my favorite band flux of a pink indian
“theres all for our need but not our greed”


@WHollabaugh no we need to find a way to make profit without harming nature fuck money dude and capitalism is the worst im no commi but capitalism has ruined mother earth and social classes and culture we need to find a way to trade with out having to have supply but no demand its a waste of resources or worse what we are doing now is buying junk see people arent lazy they like to blow what they dont have especially on junk =/


We are infants in a new world of unimaginable technological potential, we have the ability as a species to cloth, shelter and feed everyone on the planet with our military budget alone not ONE person excluded. We could eliminate the need for money altogether, thus eliminating the vast majority of crime and offer everyone a better quality of life than the richest people in the world get to enjoy.
“We have the technology but not the wisdom to use it properly.” -Jacque Fresco-


The problem is the system itself, not our open trade policies. People are naturally lazy, we use extraordinary amounts of effort in learning ways to reduce labor and increase productivity and profit.
We just need to design a monitory system that works with our nature instead of trying to repair a fundamentally flawed economic system and forcing people to change their very nature to conform to it.


@WHollabaugh we borrow our money from other countries!


@WHollabaugh LOL we owe our money to china venezuela, mexico, canada, iraq, japan DUDE the list of countries gos on and on, on who we owe.
they hold our treasuries i mean look at all your crap
if you see where its made from! nothing is made from the USA this will give you a hint on what we spent our money. CRAP same thing for oil we buy all our oil from other countries instead of getting our own end even then oil sucks we need cleaner fuel


FUCK NBC ABC FOX FUCKING LIARS
WE DONT GET OUR NEWS FROM TV ANYMORE
there is this thing called the internet and
they think we are stupid some shit and we believe what we see on tv
thank god for the real news i love this report


Government + Federal reserve manipulation in the markets created artificially low interest rates fueling asset bubbles all over our economy, dot com, real estate, etc.

Mortgage debt collateralized much of our assets = stable housing market is a necessary part of recovery.

Unfortunately, market is putting downward pressure on real estate prices. Were going to see a spectacular show these next 5 years.


Why is does he keep blaming “government” and not the proprietary gambling of financial institutions for this mess?


Wow… Real News is getting more REAL. I’ve been watching them for sometime now… glad to see them getting bolder and speaking out!


Yup… first, they gotta bail out their buddies. Healthcare is the last bailout to prop up insurance and big pharma for a bit, then down the little guy goes; that would be pretty much, all of us, even those who call themselves millionaires.


oBama says recession is ending, what the?


Har har! So the government can’t actually do anything to stop the crisis and their only solution is to pour gasoline on a fire.

Silly puppets.


We DO need an independent news source. Power business elites lie to us via our media, to make money, eg the gambling industry. So slot machines are naively supported by citizens because the media will not expose the lies of the powerful gambling industry, when millions of dollars are also spent in advertising and promoting mistruths about slots! The media misinforms us too often, to our huge community cost. Business profits win and citizens foot the bills and costs of harmful business too often.


Stupid bugger. Go to wikipedia and read an article on china’s economy. The government still owns a third of all industry and there are quotas and crap for all the private ones. seriously read before you go around talking.


end the FED

Ron Paul for president 2012


This guy is an idiot, where did we borrow the money from fool? There are only 3 countries globally that are not in debt right now. The problem is the system itself, not our abuse of it. My question is this: If everyone is in debt, then we owe to the system, not to each other, so why are we in debt? Why not just write it off and move on with our lives? If the whole world is in debt, who the %#*@ do we owe all this money to?
The Federal Reserve is a privately owned entity. Now you do the math.


Why are we all suffering? Why is there a depression on the way? Answer at 5:36 on the electric billboard.


Peter Schiff will be right…

He hasn’t been wrong in some time, and I fear that this Depression will make the Depression of 1930s look quite good…

We don’t make a damn thing anymore, back in 30s there were tons of American factories in work…


the one thing we do know is the more laws DISTORT the FREE MARKET (eg, tax breaks for investing in xxx) the worse and the more profound the problems become. look to china for a capitalist free market.


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