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From Schiff's Austrian-school-of-economics perspective, the U.S. economy is addicted to government stimulus and at risk of overdosing.
"The economy will never recover until the government stops sedating it with so-called stimulus," he says. "They're trying to sober up a drunk by giving him more alcohol - it won't work."
Schiff doesn't disagree with the widespread view that there will be economic upheaval if the Fed and Congress force the economy to go "cold turkey" rather than slowly weaning it off stimulus. But any short-term pain will be well worth the long-term gain, the money manager and Senate hopeful says.
"If you're overweight and you want to lose weight - diet and exercise are not a pleasant thing to do; but if you do it, you have positive long-term results," he says, the metaphors coming fast and furious. "If you're sick, sometimes you have to swallow bitter-tasting medicine. "
Thank God for people like Schiff...Sadly no one will listen or by the time they do?...It'll be too late...In facty not a pessamist but I do believe the clock has already rang midnight...We're just waiting for the collapse...Not IF but WHEN.
ReplyDeleteWhen? Monday 9/13 will be the next "Black Monday".
ReplyDeleteI'm in my 50's, so here we go.
ReplyDeleteWhen I was a kid in the 1960's, everything was "Made in America".
- The vacuum tube Zenith TV never died.
- Levi jeans were made in San Francisco
- We were a camping family and all our Coleman camping stuff was American made.
- As a Boy Scout, my knife and mess kit and back pack and sleeping bag was American made.
- My Buck knife and Daisy bb gun were American made.
- My Timex watch was, you guessed it, American made.
- In the kitchen, we had an American made stove, blender, mixer, electric carving knife, electric fry pan, the cups and plates were American made.
- My dad drove an American Motors, Ambassador. Mom had an Olds Toronado, a front wheel drive car with a 454 V-8 under the hood!
- The "record player" in the living room was made in America, by RCA.
- My portable radio was a Made in America, Motorola.
- The lawn mower was American made, along with the garden tools.
Eventually we started to see "Made in Japan" labels. We knew this meant only one thing, "pure, low quality junk". Nobody in their right mind would buy anything made in Japan.
In the 1960's we tooled up and built rocket ships to the moon. Our cars were pure steel and cast iron with fire eating dragons under the hood.
Yesterday, was anniversary the day Neil Armstrong stepped foot on the moon in 1969. The question yesterday was, pretend we have never been to the moon before and we decided to get there by 2020, could we do it? The answer, NO. Today a cell phone has more computing power than Mission Control had in 1969 and the answer is still no.
1:32 you honestly believe we went to the moon? Not likely, probably staged..
ReplyDeletelast one was 1972 and never been there since? You mean the technology just disappeared?
We are in trouble. Companies here in America don't care if they can keep jobs here. The bottom line is profit. Well those days are gone. So you are going to college - Sorry no job for you unless you want to go to a third world country to work. Okay here is my message to all. Do not buy any clothing at all during Aug 2010. Wear what you got. Pass the word. We are tired of being a consumer base country. Let stick together on this.
ReplyDeleteGood grief - yes we went to the moon! Get a grip!And 1:32 is right, we have lost our technical edge as most industry is in foreign countries thanks to our sick politicians. Practically nothing is made in the US anymore - we are surrounded with stuff made outside our borders and that's where our money goes - building their industrial might, not ours.
ReplyDeleteWell he is 100% right, by god... I`m in my sixties and I remember the 50s as a kid. Back then, we had Japanese tin toys and things such as 2 transistor Boys Radios and such filtering into the country. Now Japan was just beginning to get back on its feet after the war and were a fairly good manufacturing nation and they were trying their best, but quality was never even close to N.A. manufacturing. Now I`m directing this to all you young snots who can scarcely remember (and don`t give a damn anyway) the 1980s when all this Chinese tecchie crap started arriving over here. The quality and quality control was and is abhorrent. Trust us, we old fogys have known much better times-we lost when N.A. manufacturing ceased to exist.
ReplyDelete2:31: Right, we didn't go to the moon, Kennedy was killed by multiple gunmen, and 9/11 was an inside job. LOL...I just love all the conspiracy nuts who come out on this blog.
ReplyDeleteThe important stuff is still American made:
ReplyDeleteSmith & Wesson
Colt
Kimber
Remington
Charter Arms
Ruger
Bushmaster
Rock River
Stag Arms
Kel-Tec
Kahr
4:47 - give the Socialists Dem politicians a bit more time before they run your list of important stuff still made in the USA into the arms of our enemies. Gun laws and 2nd amendment restrictions to disarm Americans are some of their favorite agenda targets. Even after the recent Supreme Court decision, it's just a matter of time before they resume twisting the meaning of our Constitution to fit their desires.
ReplyDeleteObunghole is the best gun salesmen in the world, the only thing he is good at! Thanks to him those companies listed by 4:47 are rocking and rolling. Do your part and buy.
ReplyDeleteOthers have said it and I'll say it, we could not go to the moon in the next 10 years, because we have no manufacturing base left. I was a machinist in the 70's and 80's. Every large company I ever worked at is now gone. Ford Aerospace had a huge facility in Newport Beach, California. That exact spot is now a luxury housing community. That's where we built Sidewinder Missiles. McDonnell Douglas of Huntington Beach, where we built the Delta Launch Vehicles (pre Space Shuttle) is basically gone.
ReplyDeleteSometimes I think the only reason we still have automotive companies still in business, is to crank out trucks and tanks when needed for the next big invasion.
I agree with 5:28. Firearms makers are working overtime these days. Additionally anyone who comes to my door asking me to surrender my guns, will have to kill me or die trying. There will be no other options.
4:47 --- My SIG was also made in the USA !!
ReplyDelete;-)
4:47-
ReplyDeleteYou forgot Jack Daniels!
Lots of high end audio gear is still made in the US. Sure it's expensive but keeps jobs here.
ReplyDeleteSome of my stuff
VPI Turntable (New Jersey)
Sumiko Cartridge (California)
Oppo Bluray/DVD (California)
Snell Speakers (Massachusetts)
McCormick Amps (Virginia)
Blue Jeans Cables (Washington)
Actually, most of the best gear is still made here.
I can't believe some of the morons on here still believe we went to the moon. Jesus, you people will believe anything, won't you?
ReplyDelete6:54 - wow, now that was an intellectual and factual comment. People like you that think the moon landings/walks were staged need immediate major mental help. You mentioned Jesus, maybe he could help you through you current delusions. What rocks to you people live under?
ReplyDeleteI don't know if it's still up or not, but there used to be a site called Badastronomy.com years ago. They did a SUPERB job of debunking the claims that we faked the moon landing, and other BS claims about the US space program. I remember the one about the flag they planted on the moon, how it looks like it's waving though there is no atmosphere on the moon.
ReplyDeleteThe flag was made to look that way, like it was waving, it was made of a solid foil like material, not cloth. The conspiracy theorists and the dupes that made the documentary that started the whole mess just assumed it was a flag made of material that would be suitable for flags on earth.
The takedowns on that page of the conspirazoid people were just brilliant.
Watching one Peter Schiff video does not make you knowledgeable. I have watched most of his videos and he is not right.
ReplyDeleteSchiff is first and foremost a businessman. He is only interested in all the money he made and how to make more. He does not care if his ideas have a negative impact on the rest of us. He believes in outsourcing! His policies would favor business over workers.
All I do is try and pass on factual information so that some of you confused folks would stop fighting and realize we're all in the same boat. It doesn't matter if I'm a Democrat and you're a Republican--we'll both be out of work!
Wow, 7:29 and 7:54 are a bunch of dolts. I bet they believe in Santa Claus, too. My Mommy and Daddy told me it was true, so it must be true. They saw it on T.V. and they got up and saluted the flag and sang the national anthem and cried when they saw the men in their funny suits.
ReplyDelete“It is commonly believed that man will fly directly from the earth to the moon, but to do this, we would require a vehicle of such gigantic proportions that it would prove an economic impossibility. It would have to develop sufficient speed to penetrate the atmosphere and overcome the earth’s gravity and, having traveled all the way to the moon, it must still have enough fuel to land safely and make the return trip to earth. Furthermore, in order to give the expedition a margin of safety, we would not use one ship alone, but a minimum of three … each rocket ship would be taller than New York’s Empire State Building [almost ¼ mile high] and weigh about ten times the tonnage of the Queen Mary, or some 800,000 tons.”
Wernher von Braun, the father of the Apollo space program, writing in Conquest of the Moon - 1953
So, here we have the Nazi Rocket Magician, von Braun, eschewing the idea of traveling to the moon as technically daunting and economically unfeasible, but they go ahead and try anyway, and it just so happens the Nazi was completely wrong about what it would take to get there, and yet he was in charge. Scratched head and goes hmmmmmmm.
I remember as a kid watching "Sputnik" go over in the night skies of 1957. It`s not a well advertised fact, but the US and USSR were in the throes of a space race. We had just transversed through the "jet age" which really came to the worlds attention during the Korean war. The now famous and iconic dog fights over the Yalu River between the Russian Migs and the US Sabre jets were the talk of every adventurous school boy then. Enter lift off in late 1957 of the Russian Sputnik and the world was instantly thrown into the "space age" or "rocket age" I remember the headlines back then-"the Russkys are gonna attack us now like rocks thrown from an overpass" The US of course would have no part of this so THEY began flippin`rockets skyward, with communication satellites ad nauseum....the race was on! So, in answer to your bewilderment-Von Braun and his merry band of eggheads had plenty of opportunity and time to develop massive moon rockets-but it had to be done in baby steps...and finally...the answer: YES! THE USA DID GO TO THE MOON!
ReplyDeletethe moon walk was made in a movie studio for the sheeps consumtion, extorting billions for this fake nasa corp, making them all billionaires and the sheep laped it up, the same way they lapped up the 911 bullshit story
ReplyDeleteRockets for Lower Earth Orbit are not Rockets for the moon. If travel to the moon was possible then, or now, the Rooskies would have done it, also. No doubt that was the beginning of the end of the Cold War. The Rooskies realized that the U.S. could fool its people better than they could fool their people, and in the end, that's what really matters when you're talking about Totalitarian Control. Of course, the Russian Revolution was undermined from the very start by Western Capital influences. It's amazing it carried on as long as it did.
ReplyDeletehttp://www.thehiddenevil.com/communists.asp
Professor Sutton stated, "Western textbooks on Soviet economic development omit any description of the economic and financial aid given to the 1917 Revolution and subsequent economic development by Western Firms and banks." "In the Bolshevik Revolution we have some of the world's richest and most powerful men financing a movement which claims its very existence is based on the concept of stripping of their wealth," declared Allen. "[M]en like the Rothschilds, Rockefellers, Schiffs, Warburgs, Morgans, Harrimans, and Milners."