Peter Schiff new VIDEO Dec 29 CNBC

Recap...

Supply will and already is decreasing, demand will continue however.
America price of goods will "go through the roof". Demand abroad will be huge because the dollar will fall and other currencies will increase so they can buy stuff that because it's so high will make it hard for us to purchase.

Andy Busch said, "Biggest risk for2009, large devaluation of the dollar".

Peter said the Government has messed this up and can't fix the mess we are in. The stimulus packages will do nothing to stop what's coming.

Euro will do well with dollar devaluation.

Andy Busch agrees with Peter on almost everything.

Stimulus= Inflation

Gov. interferes with free market that could help fix this.

Capitalism is what really fixed the first depression.

Lots of people employed in sectors they should not be.
Assets that are over valued.
We've spent years and years squandering out wealth.
We've borrowed too much money and allowed our infrastructure to decay.

Andy said they are going to reregulate the financials to boost consumer confidence.

Peter said that is not what we need. It won't work. That's what the gov. has been doing and it has done nothing to help.

Andy is placing his faith in gov. regulators. Peter said he has no faith in them because if you look at their record they have not fixed a thing.

Peter totally blames the government for the mess, Freddie and Fannie and the like. They are the ones who created these huge problems and guaranteed them.

Some older man (didn't get his name) said if we let the free market animals go we will be in a Depression in a instant.

Peter totally disagreed.

Bottom line is they think the government will fix this. Peter says it's the government that got us into it.

Peter says inflation is on the horizon. ( BUY GOLD/SILVER)

Amazing, Peter gives facts and past behaviors as his reasons and the other guys think more regulation will fix this....go figure.