Hard to argue with a guy who has been right so many times.

His argument is the recent GDP growth is all fake, remove the $billions of borrowed foriegn cash called "stimulus" and you have what the economy really is..trash.

Schiff on Double-Dip Recession - Video - FOXBusiness.com

__________________

The government cannot give without first taking.

Oh come on man...............the Obamites need some kind of accomplishment they can attribute to their wonderful leader.

__________________
Want government run healthcare? Join the military.

It is not about Obama, remember Bush started this great giveaway.
Problem is Chas...did he really have a choice? If he did not infuse borrowed $billions and $billions the economy would have collapsed - and we would have truly had "the greatest recession since 1930".
The real issue is what do we do? No one argues or can argue that the U.S. economy has been built on a foundation of quicksand for over 20 years..a mixture of massive consumer debt (on which 70% of the GDP is comprised) and massive government debt.
What do we do when the debt runs out? WHat do we have left?

__________________

The government cannot give without first taking.

We do nothing, as our elected ""leaders" in Washington insist on retesting the indicator of stupidity............trying the same thing and hoping for a different result. Maybe we could clawback some manufacturing is we hadn't sold our soul to the devil on trade.
Honestly, the only realistic thing I can think of is to legalize and tax pot, but that'd be little more than spit in the ocean.

Here's my question to you: Do you think we would have been better off to sit back and let the markets normalize ? (do nothing basically) This would have meant full scale depression, but hopefully, the eventual emergence wouldn't come with centuries of debt

__________________
Want government run healthcare? Join the military.

I heard a clip this week that consumer debt is at an all time low. People are paying down their balances and paying cash for purchases. This cannot be a bad thing.

__________________

for some reason it won't allow me to watch it..I have flash installed the friggin thing....

__________________

"The captain has turned off the `No Dubbing' sign. You are free to speak any language you choose."

I think we're gonna need some proof on this one! I highly doubt the average citizen/consumer has wised up enough to lower the debt!

In any case, Peter Schiff has been right on so many occasions, it's not even a surprise anymore. Seriously, we need people like him helping to run and manage the country!

__________________
I have the body of a god! To bad its Buddha!

He is running for Senate.

__________________

The government cannot give without first taking.

I got it to work, finally and I agree....it would be worth remembering that Europe by and large actually came out of their depression sooner than we did, they were showing growth and their economy got better quicker than ours did in the late 30’s, ahead of ww2.

__________________

"The captain has turned off the `No Dubbing' sign. You are free to speak any language you choose."

He could have vetoed the second "stimulus bill" (or was that the third?) and allowed the Fed to do their thing. Adding a trillion to the debt vs. the Fed's "magic". I prefer the Fed.

__________________
Giving money and power to government is like giving whiskey and car keys to teenage boys. ---P. J. O'Rourke

Obviously, the European Fascists were better money managers than the American version.

__________________
Giving money and power to government is like giving whiskey and car keys to teenage boys. ---P. J. O'Rourke

The Feds???
Dude...they are the ones that setup this mess.
That and the SEC are completely infested with ex-CEO's and millionaires who have more to gain by allowing the market to go insane in the first place.
The Fed is definetly not the answer.

__________________

The government cannot give without first taking.

The Fed is the problem and therefore the solution.

__________________
Giving money and power to government is like giving whiskey and car keys to teenage boys. ---P. J. O'Rourke

I said this in another thread and will restate it; in 10 years or so there will be a hell of book written called; “ The Goldman-Sachs mafia; how they helped create the crash, but kept themselves in the Green”....

__________________

"The captain has turned off the `No Dubbing' sign. You are free to speak any language you choose."

I share your opinion of Goldman-Sachs. All their "counter-parties" need to know is Goldman-Sachs made record profits by betting against their derivative investors.

For most of us that would seem to be a risky strategy as investors should be smart enough to wise up to their games. Apparently however, it's the "it won't be me" mindset that keeps the dough coming in.

__________________
Giving money and power to government is like giving whiskey and car keys to teenage boys. ---P. J. O'Rourke