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Peter Schiff on CNBC 1/6/2009

Submitted by Michael Nystrom on Wed, 01/07/2009 - 00:19
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Note his comment on the GDP.

Submitted by spacehabitats on Wed, 01/07/2009 - 10:13.

Something that gets glossed over way too much is the degradation of the essence of the U.S. economy.

I tried to point this out in my post about the "zombie economy".
http://www.dailypaul.com/node/73367

Any analysis of the Debt to GDP ratio has to take into account just what we mean by "GDP".
Is it production by factories, mines, and farms? Or is it measuring the "wealth" produced when a lot of white collar paper shufflers sell time-share condos to each other?

BIG difference.

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Money As Debt

http://www.youtube.com/watch?v=vVkFb26u9g8

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"Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive."

Schiff being coy

Submitted by xxx-by_request2 on Wed, 01/07/2009 - 08:22.

I think his last comment about buying stocks was coy. He's buying stocks, all right, but if we know anything about Peter at all, we know the greatest proportion of those purchases are outside of the US.

Holy Cow ...

Submitted by obscure titles on Wed, 01/07/2009 - 06:11.

Peter has never beaten me to the bull side.

This is unprecedented.

WAHOR!!
http://www.dailypaul.com/node/48994

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WAHOR!!
http://www.dailypaul.com/node/48994

2 for the price of 1

Submitted by Alan Smith on Wed, 01/07/2009 - 03:26.

The title could be "Peter Schiff and Donald Luskin". Let's remember to celebrate they were both named Economic Advisors to Ron Paul 2008.

schiff

Submitted by 95687-for-rp on Wed, 01/07/2009 - 02:27.

i think if kudlow didn't cut peter off, peter would have said "i'm long foreign stocks, but not american stocks..."

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I pledge, do you?

At one point in there he implied...

Submitted by dlind on Wed, 01/07/2009 - 02:45.

that he wouldn't 'broadly' invest in US stocks right now.

He's being picky because there's still a lot of crap flopping around in our markets. At least, that's what I got out of what he said.

Sounded Pretty Bullish Here

Submitted by DC on Wed, 01/07/2009 - 02:16.

Didn't exactly get a chance to explain why, or what particularly he thought the big category would be.

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"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels

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"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels

Interesting

Submitted by JoeDanger on Wed, 01/07/2009 - 02:12.

Peter sounded less bearish than usual in this clip. He's been saying to get out of dollar denominated assets for quite a while now, but in this clip, he says he's buying. "Fear of being left out?" I wonder if he meant he was buying Asian stocks.

"You are a den of Vipers.I intend to rout you out and by the Eternal God I will rout you out."

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For an informed citizenry, individuals must discard the television set in favor of the acquisition of information via either books and/or the internet. An uneducated populous will remain in ignorance and thus continue to suffer the sharp ax of tyranny.

I love peter's analogies

Submitted by punjabimunda on Wed, 01/07/2009 - 00:55.

I wonder if he comes up with these at top of his head.

agreed

Submitted by kurtisohio on Wed, 01/07/2009 - 00:34.

Peter is such an outstanding voice for reason and liberty!!!