Peter Schiff: bernanke is lying!!!!!
- Thread starter S2007S
- Start date
u r thinking in terms of increasing credit to stimulate growth but due to a number of bizarre fed policies which u sh know that causes this newly created credit not to end up in the economy but elsewhere such as banks' B/S, then there is the QE, say fed buys bonds, external creditor gets the $, and does an fx, which ever bank receives the $ now has to make a decision how to put it to use, now at current low interest it is even lower than the inflation rate, heck, so everybody that has dollar is now rushing out to get rid of it, by purchasing other assets, what happens is this fed officials are v proud people, so they tend to be dogmatic and stuck on certain economic theories and r slow too
I'm for a social safety net, but making people dependent on government instead of their own abilities is very wrong. You only have to look at many parts of NYC , Detroit, southside Chicago etc to see how government cannot fix poverty. Life is hard, no doubt, but you've got to make sure people try their best in life instead of coasting by.
At the rate things are going, we'll be in a recession by the end of the year. Inflation will eat the good corp profits.
Schiff is a self-promoting huckster ala' the Donald. What he says is either wrong or self evident to any one who understands how modern economies using fiat currencies function relative to each other.
Clairvoyant? Hardly! Greenspan got numerous letters pointing out the excesses in the real estate markets and mortgage lending, and the bubble in housing prices was mentioned ad nauseum in congressional hearings. Everyone new the price bubble would eventually burst. Did schiff warn well ahead of the collusion, skulduggery and stupidity in the non-transparent CDO and CDS markets? I doubt it. Did he say this stuff was going to bring down giant institutions? If he did that, then i'll give him some credit. But going around predicting that the real estate bubble would burst or that the dollar would continue to deflate in an environment of heavy public deficits and a negative personal savings rate in a nation of borrowers, give me a break.
So the increase in inflation from QE1 and 2 (showing up in stuff like the amount in supermarket-bought boxes shrinking while price stay the same or goes up) is reducing people's purchasing power, just like a tax does...
And by reducing people's purchasing power during a recession with cheaper money, he is going to get to the "maximizing employment" part of the Fed mandate....
Wow - he IS smart!!!
Why don't our stupid politicians raise taxes and increase employment too? Dumb asses...
If I made the rules, the social safety net would be a cot in a shelter with 3 meals a day... clothing and medical attention as required. If people want better than that, they should do something about it for themselves.
"The best thing you can do for poor people is to make them uncomfortable in their poverty"... Benjamin Franklin
Schiff serves no purpose. Everyone including Bernanke knows the dollar is being sabotaged intentionally.
For what purpose?
Since no one here is part of the Bilderberg group we'll have no clue what the NWO has in store for us. All I can say is $150 oil is around the corner. If you can't do anything about something why even mention it. Schiff and Ron Pauls motor mouths have done zero good.
For what purpose?
Since no one here is part of the Bilderberg group we'll have no clue what the NWO has in store for us. All I can say is $150 oil is around the corner. If you can't do anything about something why even mention it. Schiff and Ron Pauls motor mouths have done zero good.