The US is about to collapse thanks to Obama.

[tlongII]

http://moneymorning.com/ob-article/schiff-us-will-win-currency-war.php?code=3243

[pgardn]

Since your stocks will have no value will you give them to me?

It could get so bad that US society completely breaks down, no gas or food...

Can I have your car as well as you wont be needing it?

[Warlord23]

:lol Peter Schiff. This guy predicted a market crash in 2002, 2003, 2004, 2005, 2006, 2007, 2008 - when it finally crashed in 2008 he took credit for "correctly predicting" the crash. Since then he's being predicting hyperinflation and the destruction of the US Dollar for the last 5 years.

tlong, whenever a politican or talking head simplifies economic concepts and equates them with common household metaphors, be sceptical and do your own research. When Schiff says "there's too much debt; we should all live within our means", he is making an irrelevant comparison between government finances and household finances. To understand this, you need to know how our monetary system works - basically that all money is debt-based. When Schiff says the Fed's money printing will cause hyperinflation, you need to differentiate between the monetary base and broad money and understand that broad money has not increased in correlation with the monetary base.

I could explain more, but basically the point is: stop blindly believing Schiff, Beck and the other fear-mongers and read up on fundamental concepts behind the economy. That will help you understand what exactly is going on without having to assume conspiracy theories like "most macro-economic data is fudged" (an excuse that is frequently used by Schiff, btw).

I thought the conservative entertainment complex would be more circumspect after their disastrous predictions regarding the economy and the 2012 elections, but as long as there are suckers like tlong who continue to lap it up, they show no signs of slowing down their bullshit production. Dick Morris need not fear, he will probably be back in the next election cycle.

[boutons_deux]

I fear-monger and tell lies, buy my book.

[George Gervin's Afro]

run for your lives!

lol

[InRareForm]

Everything is perfect according to all the replies :rolleyes

[pgardn]

Everything is perfect according to all the replies :rolleyes

Which reply said everything is perfect?

[The Reckoning]

keep working hard, keep purchasing, support your local economy and vote intelligently. that's all you can rationally do.

[Latarian Milton]

as horrible a president as obama has proven to be, i still think its unfair to blame him on everything we're struggling with. america has been going the wrong way since the reagan administration, and his followers (clinton, bush and the kenyan n!gger) did basically nothing to help the country get back to the right direction, instead they made things worse and worse. a well-functioning political system would never elect a FUCKING immigrant into the senate tbh, let alone the white house

[Wild Cobra]

Here we go again...

Same 'ol shit again...

walking down the avenue...

Hearing people talk shit to raise fears...

[DarrinS]

My 401k is kicking ass this year

[George Gervin's Afro]

My 401k is kicking ass this year

ha mine too!

[RandomGuy]

http://moneymorning.com/ob-article/schiff-us-will-win-currency-war.php?code=3243


BIG SCARY THING IS GOING TO HAPPEN!!! BOOGA BOOGA BOOGA!!!

BARGLE BARGLE!!

Buy my book to find out how to protect yourself!!!

(rolls eyes)

[TeyshaBlue]

ha mine too!

Thanks Obama!!!111:flipoff

[TeyshaBlue]

Didn't that Schiff dude do some time for some scammy shit?

[TeyshaBlue]

My bad. It's his dad, Irwin.

http://en.wikipedia.org/wiki/Irwin_Schiff

[CosmicCowboy]

Meh. I suspect the truth is somewhere in the middle between "deficits and endlessly printing massive amounts of money doesn't matter" and "the sky is falling".

[DUNCANownsKOBE]

Fwiw Dick Cheney thinks deficits don't matter.

[Drachen]

:lol Peter Schiff. This guy predicted a market crash in 2002, 2003, 2004, 2005, 2006, 2007, 2008 - when it finally crashed in 2008 he took credit for "correctly predicting" the crash.

THANKS OBAMA

[InRareForm]

Only spurstalk would compare schiff to a financial Alex Jones.

[Wild Cobra]

My 401k is kicking ass this year


ha mine too!
LOL...

I haven't even looked at mine in several months.

Before the 2016 elections, I will probably reallocate my distributions again.

[tlongII]

:lol Peter Schiff. This guy predicted a market crash in 2002, 2003, 2004, 2005, 2006, 2007, 2008 - when it finally crashed in 2008 he took credit for "correctly predicting" the crash. Since then he's being predicting hyperinflation and the destruction of the US Dollar for the last 5 years.

tlong, whenever a politican or talking head simplifies economic concepts and equates them with common household metaphors, be sceptical and do your own research. When Schiff says "there's too much debt; we should all live within our means", he is making an irrelevant comparison between government finances and household finances. To understand this, you need to know how our monetary system works - basically that all money is debt-based. When Schiff says the Fed's money printing will cause hyperinflation, you need to differentiate between the monetary base and broad money and understand that broad money has not increased in correlation with the monetary base.

I could explain more, but basically the point is: stop blindly believing Schiff, Beck and the other fear-mongers and read up on fundamental concepts behind the economy. That will help you understand what exactly is going on without having to assume conspiracy theories like "most macro-economic data is fudged" (an excuse that is frequently used by Schiff, btw).

I thought the conservative entertainment complex would be more circumspect after their disastrous predictions regarding the economy and the 2012 elections, but as long as there are suckers like tlong who continue to lap it up, they show no signs of slowing down their bullshit production. Dick Morris need not fear, he will probably be back in the next election cycle.

Dude, all you have to do is look at countries like Greece and Spain to see how relying on massive amounts of debt works out for governments. The U.S. can stave off the consequences for a while, but believe me there will be consequences.

[CosmicCowboy]

Dude, all you have to do is look at countries like Greece and Spain to see how relying on massive amounts of debt works out for governments. The U.S. can stave off the consequences for a while, but believe me there will be consequences.

No kidding. As soon as the Fed stops QE the bond market is gonna take a huge shit.

[boutons_deux]

debt fear-mongers, like End Times predictors, have been wrong for 5 years, are wrong now, but nothing stops them, after they've been suckered into Fix The Debt bullshit by the 1%.

Spain's crisis is a banking crisis.

Goldman Sachs showed Greece how to defraud the bond markets so it could sell bonds cheaper.

Long before the USA has its mythical debt crisis, the financial sector will strike again, and taxpayers will bail them out again.

[Winehole23]

No kidding. As soon as the Fed stops QE the bond market is gonna take a huge shit.if you were good at explaining the present, I might put more credence in your predictions, but you suck at that too.

[Warlord23]

Dude, all you have to do is look at countries like Greece and Spain to see how relying on massive amounts of debt works out for governments. The U.S. can stave off the consequences for a while, but believe me there will be consequences.

Sure, all policies have consequences. Care to make a specific argument in the context of the US economy than comparing them to Greece / Spain /Cyprus who have no control over their monetary policy by virtue of being part of the Eurozone?


No kidding. As soon as the Fed stops QE the bond market is gonna take a huge shit.

And? That's a pretty obvious statement. When QE stops and/or the Fed increases benchmark rates, the dollar will become stronger and interest rates will increase. But the Fed will only stop QE once growth increases and/or inflation begins to climb. In those circumstances, that is exactly what you'd want them to do. Note that the strengthening of the dollar in this scenario is directly opposite to what the OP's article talks about (i.e. dollar collapse).

[RandomGuy]

:lol Peter Schiff. This guy predicted a market crash in 2002, 2003, 2004, 2005, 2006, 2007, 2008 - when it finally crashed in 2008 he took credit for "correctly predicting" the crash. Since then he's being predicting hyperinflation and the destruction of the US Dollar for the last 5 years.

tlong, whenever a politican or talking head simplifies economic concepts and equates them with common household metaphors, be sceptical and do your own research. When Schiff says "there's too much debt; we should all live within our means", he is making an irrelevant comparison between government finances and household finances. To understand this, you need to know how our monetary system works - basically that all money is debt-based. When Schiff says the Fed's money printing will cause hyperinflation, you need to differentiate between the monetary base and broad money and understand that broad money has not increased in correlation with the monetary base.

I could explain more, but basically the point is: stop blindly believing Schiff, Beck and the other fear-mongers and read up on fundamental concepts behind the economy. That will help you understand what exactly is going on without having to assume conspiracy theories like "most macro-economic data is fudged" (an excuse that is frequently used by Schiff, btw).

I thought the conservative entertainment complex would be more circumspect after their disastrous predictions regarding the economy and the 2012 elections, but as long as there are suckers like tlong who continue to lap it up, they show no signs of slowing down their bullshit production. Dick Morris need not fear, he will probably be back in the next election cycle.

+1

Well put, sir.

[RandomGuy]

No kidding. As soon as the Fed stops QE the bond market is gonna take a huge shit.

The second interest rates start to rise a little the bond market is going to take a huge shit, QE or no.

This is why Buffet is rightly saying to avoid bonds like the plague, and why the stock market it zooming ahead, as equities are absorbing investment dollars.

[RandomGuy]

Dude, all you have to do is look at countries like Greece and Spain to see how relying on massive amounts of debt works out for governments. The U.S. can stave off the consequences for a while, but believe me there will be consequences.

Piffle. The costs of servicing our debt have gone down, if memory serves. We have been replacing higher interest debt with essentially free money issued at record low levels of interest.

We should be borrowing more. It isn't the debt relative to the economy, but the interest on that debt that matters most to the carrying opportunity cost.

Borrowing $1T at 2% is far different than borrowing $1T at 5%

$20bn in interest versus $50bn in yearly interest.

Finding infrastructure investments that ultimately yeild more economic growth than they cost is very easy to do with money that cheap.

THe conservative goombahs keeping us from spending more are the ones who are throttling the economy they so champion. It doens't get more ironic.

[TeyshaBlue]

No shit. We can leverage 2 - 3x more capital at the current rates. It's insane not to borrow, especially in light of your infrastructure illustration.

[DUNCANownsKOBE]

Sure, all policies have consequences. Care to make a specific argument in the context of the US economy than comparing them to Greece / Spain /Cyprus who have no control over their monetary policy by virtue of being part of the Eurozone?



And? That's a pretty obvious statement. When QE stops and/or the Fed increases benchmark rates, the dollar will become stronger and interest rates will increase. But the Fed will only stop QE once growth increases and/or inflation begins to climb. In those circumstances, that is exactly what you'd want them to do. Note that the strengthening of the dollar in this scenario is directly opposite to what the OP's article talks about (i.e. dollar collapse).
While I agree with what you're saying, :lol at talking to the hyperinflation crowd as if they understand basic macroeconomic concepts.

Another basic macroeconomic concept is that you actually need demand in order for inflation to occur which is the big thing hyperinflation nuts love to ignore because they're conservatives who do everything they can to hide from the obvious reason why our economy sucks. It's gotten hilarious watching them come up with new reasons why the economy sucks when they know it's because of the lack of demand from the middle class directly attributable to the 30 year movement Reagan started.

[Th'Pusher]

Yesterday the fed hinted QE may be coming to an end sooner rather than later, lets see how markets react.

[RandomGuy]

http://moneymorning.com/ob-article/schiff-us-will-win-currency-war.php?code=3243

Moneymorning.com, the worldnewsdaily/infowars of the finance world.

Not convinced by Schiff's hysteronics. Confirmation bias at its worst.


Buy his books and read all about how to protect yourself against the Big Scary Things we constantly write about.

First book is free!