The Worm Ouroboros. New symbol of the Obama administration.
Posted on 02/07/2009 5:43:15 PM PST by Federalist Patriot
Here is video of Peter Schiff, President of Euro Pacific Capital, saying that the Obama Stimulus Bill is going to lead to "unmitigated disaster" in the U.S. Economy.
The problem, he says, is the government is trying to perpetuate a "phony economy" based on borrowing and spending. With the U.S. consumer tapped out, the government is "now taking on the mantle" of consumer of last resort, he continues, predicting the bond bubble will soon burst - if it hasn't already - ultimately leading to a collapse of the dollar and an "inflationary depression worse than anything any of us have ever seen." . . . . . (Watch Video)
(Excerpt) Read more at freedomslighthouse.com ...
Peter David Schiff (born 1964)[1] is an American economic commentator, author and licensed stock broker who currently serves as president of Euro Pacific Capital Inc., a fully accredited brokerage firm based in Darien, Connecticut.[2]
Schiff is best known for his bearish views on the United States economy and for predicting the economic crisis of 2008.[3] He has risen to media prominence following the publication of his book Crash Proof: How to Profit From the Coming Economic Collapse. Published in early 2007 and written over the previous two years, Crash Proof correctly predicted the subsequent collapse of the US housing bubble and the consequent financial crisis, including the failure of Fannie Mae and Freddie Mac and the obliteration of the US based financial sector.
Aside from his writings, Schiff maintains a significant media presence, often appearing on US financial newsprograms on networks such as CNBC, CNN, CNN International, Fox News, Bloomberg TV and Fox Business where he is generally booked to provide a bearish counterpoint to more bullish commentators.
Schiff also hosts a live Internet/shortwave radio show called “Wall Street Unspun, which is available in podcast format.”[4]
Schiff is a supporter of the Austrian School of Economics and the Ludwig von Mises Institute[5], and was an economic adviser for Ron Paul’s campaign in the 2008 Republican Party primaries, through which Schiff also expressed support for sound money, limited government, and free market capitalism. He is rumored to be a potential challenger to Democrat Chris Dodd in the elections of 20
He’s excellent and right on the money. Thanks for posting it.
Economics? The Obamaloons don’t need no stinkin’ economics.
“...and economists tell us that passing it will be a disaster.”
Well, except for Paul Krugman. He’s all over this ‘stimulus’ like a cheap leisure suit.
And if Krugman is FOR it, rest assured that the rest of us need to be AGAINST it!
He would NEVER lie to us!!!!!!!!!!!
/s
We need to everything we can to stop it, but if we can't we need to keep reminding everyone the Democrats OWN it.
The Worm Ouroboros. New symbol of the Obama administration.
I’m getting concerned about this near canonization of Peter Schiff. He’s been spectacularly wrong, too. Decoupling, anyone?
Excellent interview...and right on the mark. The reason that Obama and Dems don’t act like there’s an impending disaster is that they really don’t believe that it’s possible. But do-the-math, as Peter has, and it is not only possible, but now virtually inevitable.
Here in Texas, we may have to take matters into our own hands...
http://www.freerepublic.com/focus/f-chat/2180357/posts
Prior to the last hurricane, I remember people naming off hurricanes that they had survived in the past, and saying that Ike would not be a problem. Some of those people lived on the Gulf Coast. The moral is that one cannot lump all hurricanes into the same template, just as one cannot say that just because we spent wildly in the past without punishment, we can then spend all we want in the future without punishment.
Cold comfort that will be when we're all squatting around an empty oil drum, trying to stay warm by burning worthless paper money!
My ancestors emigrated from Germany at the height of the hyper inflation that was the dying gasp of Wiemar Republic. My mother was twelve when she accompanied her Grandmother, she never forgot the horrors of a dying economy.
Regards,
GtG
...lead to unmitigated disaster...
Not to worry. Senators Collins, Snowe and Spectre are going to see to it that this is only a mitigated disaster.
Clever line, dogcaller.
You are correct, however even so called prominent Americans (and I use that term loosely because many of these bastards are unrepentent New World globalists) are in the tank with Obucckaaboomba's socialist buyout. I saw an article from last week following a meeting of Wall Street CEO's & Obama, and in the article IBM's CEO, Sam Palmissano is gushing like a love sick puppy over Obama and how wonderful this crapola "Stimulus" package is. In fact his exact words following the meeting of Wall Street leftie CEO's with Obama was as follows....." I know I speak for them when I say that we stand together in supporting your goals, Mr. President.....So, I and my peers encourage all leaders in business and government to embrace your vision".
What vision??? The vision to destroy America and everything that made our country the greatest country in the world??? What a piece of $h!t this porkulus package is that Americans need to "embrace the vision of Obama"
The Feds need to cut taxes across the board -— reductions in personal income tax rates; cut the top rate 20% --- 50% reduction in corporate taxes -— a two year moratorium on capgains taxes and later a permanent capgains rate cut to 10%. Then hold on tight.
No doubt, an inflationary depression is in America's future.
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