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Who's Right--The "Stimulators" Or The "Austerians"? (Peter Schiff)
The Business Insider ^ | 6-28-2010 | Peter Schiff

Posted on 06/28/2010 8:12:31 PM PDT by blam

Who's Right--The "Stimulators" Or The "Austerians"?

Peter Schiff
Jun. 28, 2010, 9:03 PM

Despite the apparent deficit-cutting solidarity that emerged from this weekend's G-20 meeting in Toronto, it is clear that the great powers of the industrialized world have not been this philosophically estranged since the end of the Cold War. Ironically, in this new contest, the former belligerents have switched sides - the capitalists are now the socialists, and vice versa.

We now are witnessing a struggle between two camps that I playfully call the "Stimulators" and the "Austereians." Both warn that a worldwide depression will ensue if governments now make the wrong choices: the Stimulators say the danger lies in spending too little and the Austereians from spending too much. Each side also has their own economic champion: the Stimulators follow the banner of Nobel Prize-winning economist Paul Krugman, while the Austereians are forming up behind the recently reformed former Fed Chairman Alan Greenspan. (It is cold comfort to witness "The Maestro" belatedly returning to the hard-money positions that characterized his earlier years.)

[snip]

(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: depression; economy; peterschiff; recession; recovery; schiff

1 posted on 06/28/2010 8:12:37 PM PDT by blam
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To: blam

What’s so hard about this? They are BOTH right.

If the “Austerity” crowd gets its way, we’ll soon have a world wide depression.

If the “Stimulus” crowd gets its way, we’ll have one a little bit later. But a whole lot worse.

The fact of a world wide depression is now inevitable, though.


2 posted on 06/28/2010 8:15:43 PM PDT by piytar (Obama keeps going to golf courses instead of the Gulf. Maybe he's too stupid to know the difference?)
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To: blam

We, as Americans, should be 100% on the side OPPOSITE of the obamanation.... he is our curse and until he is gone, we have to question every decision he makes because he is NOT for America!


3 posted on 06/28/2010 8:15:43 PM PDT by bareford101 (Be loud! We have nothing – NOTHING - to apologize for in fighting for our Country!!)
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To: blam

Wow, for once you post an *easy* question, blam.

The “Austerians” are right.

Remember... the question isn’t “who is more effective in the short term”, but rather “who is RIGHT”. And I’m taking “right” in the sense of “righteous”.

You know... moral hazard and all that.


4 posted on 06/28/2010 8:17:12 PM PDT by Nervous Tick (Eat more spinach! Make Green Jobs for America!)
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To: piytar

“They are BOTH right.”

And we are SO screwed.


5 posted on 06/28/2010 8:18:16 PM PDT by REDWOOD99
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To: blam
Is Austeria where Arnold came from or is it the one with the kangaroos ?
6 posted on 06/28/2010 8:19:56 PM PDT by kbennkc (For those who have fought for it freedom has a flavor the protected will never know .F Trp 8th Cav)
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To: Nervous Tick
" the Stimulators follow the banner of Nobel Prize-winning economist Paul Krugman,. . ."

The Nobel Panel does not give prizes to capitalists.

I go with Greenspan who seems to have convinced the EUrotopians that their socialist experiment has failed.

yitbos

7 posted on 06/28/2010 8:46:44 PM PDT by bruinbirdman ("Those who control language control minds.")
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To: blam

The economys that accept austerity first will be the first to get out of their self-created troubles.


8 posted on 06/28/2010 9:14:24 PM PDT by februus
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To: blam


SCHIFF invests in America’s economic competitors ONLY
NOT A DIME in the USA
how is that smart??

ECON 101
When you invest in the firm that is the economic competitor to your own family, and your family does poorly, and their competitor does well, and you KEEP investing in your family’s competitor, YOU ARE PUTTING YOUR FAMILY OUT OF WORK!

Schiff doesn’t invest a SINGLE PENNY in AMERICA!!!

pro-immigration and said that there are too many jobs in the US we NEED to let in immigrants???

Peter Schiff admits on camera that he has ZERO money investigated in American corporations or industry. If Peter Schiff refuses to invest in American companies, how can Peter Schiff say he is helping Americans keep their jobs?

http://ameriborn.com/shifty/

This is SCHIFF in his own words!

PETER SCHIFF IS ACTIVELY INVESTING IN FOREIGN COMPETITOR NATIONS THAT ARE PUTTING AMERICANS OUT OF WORK!!!


Schiff is pro-gay marriage, pro-drug legalization and against the war in Afghanistan

http://blogs.courant.com/rick_green/2009/10/peter-schiff-arrives-give-me-m.html


Why do the Ron Paul guys support gay marriage?
http://www.queerty.com/ron-paul-on-gay-marriage-20071210/


http://www.schiffforsenate.com/index.php?q=news/constitutional-candidates-congress

Schiff’s own website endorses Adam Kokesh


All the Schiff bots are supporting a PRO-CHOICE candidate, too

http://www.youtube.com/watch?v=nDttx64zk4I


SCHIFF himself admits he believes the Iraq War is a QUAGMIRE in 2009!!
http://www.freespeechmonster.com/?p=103

Schiff has said this many times
http://peterschiffsays.com/defense.htm

Aug 7, 2009, Iraq is a quagmire
http://www.youtube.com/watch?v=P9t741ewbGA

Schiff blamed Iraq on bankers? Not on Saddam?
http://www.youtube.com/watch?v=zo81QDSuixk


What the Tea Parties are not telling you about Peter Schiff:

Libertarians need to infiltrate the GOP
http://belowthebeltway.com/2009/06/02/peter-schiff-libertarians-need-to-infliltrate-the-gop/
http://www.facebook.com/note.php?note_id=110955225375
http://www.campaignforliberty.com/blog.php?view=19285
http://www.godlikeproductions.com/forum1/message808505/pg1
http://answers.yahoo.com/question/index?qid=20090707200009AAzSQfB


Peter Schiff admits on camera that he has ZERO money investigated in American corporations or industry. If Peter Schiff refuses to invest in American companies, how can Peter Schiff say he is helping Americans keep their jobs?

http://ameriborn.com/shifty/


Peter Schiff repeating talking points of the lunatic left, listen yourself. He says in 2009 that Iraq is a QUAGMIRE when we already won!! He blames the war on bankers and whoever, and not a word about blaming it on terrorists! listen yourself, Schiff repeats left wing talking points to his radio audience about the Iraq war!

http://www.youtube.com/watch?v=zo81QDSuixk


Peter Schiff has made open statements that are quite like the statements of the anti-war leftists, to include the OTHER Ron Paul endorsed candidates Rand Paul and Adam Kokesh

http://www.google.com/search?hl=en&source=hp&q=schiff+%2B+isolationist&aq=f&aqi=g10&aql=&oq=&gs_rfai=

http://www.google.com/search?sourceid=navclient&ie=UTF-8&rlz=1T4GGIC_enUS220US220&q=peter+schiff+isolationist


Peter Schiff is pro-choice on abortion

http://www.google.com/search?num=20&hl=en&newwindow=1&rlz=1T4GGIC_enUS220US220&q=Peter+schiff+%2B+abortion&aq=f&aqi=g-c1&aql=&oq=&gs_rfai=


SCHIFF’S OWN WEBSITE CONTAINS AN ENDORSEMENT FOR KOKESH WHERE KOKESH IS NAMED AS AN ANTI-WAR PROTESTER
http://schiffforsenate.com/index.php?q=news/constitutional-candidates-congress
Adam Kokesh
Adam Kokesh is best known as an Iraq War veteran who returned opposed to the war and was a keynote speaker at Ron Paul’s “Rally for the Republic” that competed with the Republican National Convention in the summer of 2008.


Peter Schiff is pro-choice on abortion

http://www.youtube.com/watch?v=nDttx64zk4I

with respect to his personal feelings, he would not make it illegal, women have a right to abort, he is against 3rd trimester,

BUT FIRST TRIMESTR OR SECOND ONE ITS OKAY

Hear it in his own words


http://www.google.com/search?num=20&hl=en&newwindow=1&rlz=1T4GGIC_enUS220US220&q=Peter+schiff+%2B+abortion&aq=f&aqi=g-c1&aql=&oq=&gs_rfai=

pro-immigration and said that there are too many jobs in the US we NEED to let in immigrants???

Peter Schiff admits on camera that he has ZERO money investigated in American corporations or industry. If Peter Schiff refuses to invest in American companies, how can Peter Schiff say he is helping Americans keep their jobs?

http://ameriborn.com/shifty/

This is SCHIFF in his own words!


video of Peter Schiff saying that LIBERTARIANS must infiltrate the Republican Party
http://www.youtube.com/watch?v=3ncLTFoTFa8&playnext_from=TL&videos=gKm7t4j9Wgc

http://www.ustream.tv/recorded/1583738

This second link is the full 2 hours. You cant download it directly, I tried, but hey, you can record it! :)


Peter Schiff appears at a Rand Paul/Adam Kokesh/Peter Schiff fundraiser

http://www.youtube.com/watch?v=AYwb_P-ssK0

Rand Paul, Adam Kokesh, Peter Schiff, and others holding a fundraiser at Webster Hall in New York.

http://www.randpaul2010.com
http://www.schiffforsenate.com
http://www.kokeshforcongress.com


Read it for yourself, folks, all three of these candidates are the type of people that this organization supports and even wants to send money to!

http://www.google.com/search?q=schiff+kokesh+site:http://www.stormfront.org&hl=en&lr=&filter=0

The RAND Paul Money Bomb! Help Elect Rand Paul to U.S.

http://www.stormfront.org/forum/showthread.php?t=624677

Stormfront!!!!


9 posted on 06/28/2010 9:21:51 PM PDT by RaceBannon (RON PAUL: THE PARTY OF TRUTHERS, TRAITORS AND UFO CHASERS!!!)
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To: blam

Lets see.... we spent money out the wazoo and we are in the same boat but with more debt.

Hmmmm....


10 posted on 06/28/2010 9:25:14 PM PDT by mylife (Opinions: $1 Halfbaked: 50c)
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To: kbennkc

No, it’s a musical group.... Question Mark and the Austerians. ;-) (are you old enough to get that one?)


11 posted on 06/28/2010 10:35:40 PM PDT by Pining_4_TX
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To: Pining_4_TX
No, it’s a musical group.... Question Mark and the Austerians. ;-) (are you old enough to get that one?)

I am so old I remember but it is a mystery an , I don't why, it is enough to make me cry 96 tears .

12 posted on 06/28/2010 10:42:06 PM PDT by kbennkc (For those who have fought for it freedom has a flavor the protected will never know .F Trp 8th Cav)
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To: Pining_4_TX
If I have to have it in my head ....

http://www.youtube.com/watch?v=Qc69zr_5uH4&feature=related

13 posted on 06/28/2010 10:45:52 PM PDT by kbennkc (For those who have fought for it freedom has a flavor the protected will never know .F Trp 8th Cav)
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To: piytar

Fiddlestix.

Governments especially can’t spend their way to our prosperity. Their spending is the equivalent of a bonfire of the currencies.

Tax increases don’t work. Arthur Laffer and experience have repeatedly shown that tax increases (at current levels of taxation) reduce treasury revenues.

Regulation doesn’t work. See IPO count after SarBox.

Protectionism doesn’t work. See Smoot Hawley.

The only things that work are government spending cuts, tax cuts, regulation cuts, and more free trade.

Europe seems to have figured out the first one. Let’s see who else can get on the Growth Train.


14 posted on 06/28/2010 10:50:25 PM PDT by Uncle Miltie (0bummer calls opponents "Teabaggers". So we can call Kagan "Carpet Muncher." Right?)
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To: blam

http://www.321gold.com/fed/greenspan/1966.html


15 posted on 06/28/2010 11:05:13 PM PDT by M-cubed
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To: Uncle Miltie

I agree with everything you said except “fiddlesticks.”

The problem is that we’ve already had too much government spending, tax increases, regulation, and protectionism (at the behest of the union bosses). And there are no government spending cuts (except on the military), tax cuts, regulation cuts, and free trade on the horizon.

Hence my point that a depression is inevitable. More of the same “stimulus” et al garbage might delay it a little, but will just make it worse. FAR worse.


16 posted on 06/29/2010 12:01:26 AM PDT by piytar (Obama keeps going to golf courses instead of the Gulf. Maybe he's too stupid to know the difference?)
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To: piytar

It’s already here.


17 posted on 06/29/2010 3:28:31 AM PDT by Huck (Q: How can you tell a party is in the minority? A: They're complaining about the deficit.)
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To: blam

The two schools of thought in economics are Keynesian (stimulus - socialist) and Austrian (laissez-faire - Von Mises/Hayek).

With the amount of government spending and debt we have now, a crisis is unavoidable no matter what.

Going forward, the Austrian model works better, as it is based on reality and not on leftist ideology.


18 posted on 06/29/2010 5:13:30 AM PDT by Disambiguator (Progressivism, Socialism, Marxism, Communism - it's all shades of black.)
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To: blam
Who's Right--The "Stimulators" Or The "Austerians"?

I imagine we will find out soon enough.

19 posted on 06/29/2010 5:19:57 AM PDT by Non-Sequitur
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To: Disambiguator

I believe that you mean “Austereian”, not “Austrian”.

Still, I agree. Keynesian economics (which should bear the name “voodoo economics”) in a debt-ridden society is, in reality, merely kicking the can down the road. The lender will eventually collect from the debtor, and going deeper in debt is only going to make the pain worse.


20 posted on 06/29/2010 5:22:38 AM PDT by meyer (Big government is the enemy of freedom.)
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To: meyer
I believe that you mean “Austereian”, not “Austrian”

No, I mean Austrian.

21 posted on 06/29/2010 5:59:39 AM PDT by Disambiguator (Progressivism, Socialism, Marxism, Communism - it's all shades of black.)
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To: kbennkc

Ha, ha, that was a hoot! I particularly liked the guy in the cowboy hat who seemed to have trouble moving in time with the music. Thanks for posting! :-)


22 posted on 06/29/2010 11:07:37 AM PDT by Pining_4_TX
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To: Pining_4_TX

There are no two people in that video who could possibly be hearing the same song. How about that fancy 1960s white boy clapping? Helen Keller swatted mosquitoes with more rhythm .


23 posted on 06/29/2010 11:29:00 AM PDT by kbennkc (For those who have fought for it freedom has a flavor the protected will never know .F Trp 8th Cav)
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