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LEFT WING LOONS Title: Peter Schiff: ‘We Will Live Through Another Great Depression Which Will Be MUCH MUCH WORSE’ Financial guru Peter Schiff, who accurately predicted the recession of 2008, says the problems we face now are even bigger. We will live through another Great Depression if Schiff is correct. And one of the main concerns is something very few dare to even mention or show a concern about: the national debt. Schiff’s podcast from a few days ago highlights a very important problem with not only the economy as we know it but the mainstream media as well. Unable to take their attention off gun control regulations for even a moment to focus on a much bigger concern, the national debt, the mainstream media is effectively trying to hide what’s coming down the pipe. The lack of coverage seems to be spurring a lackadaisical attitude about the almost $21 trillion debt. Let’s start at the beginning. Schiff begins his podcast talking about a book his father wrote; one of the only books to have been banned by the United States government. Yes, the US government banned a book titled “The Federal Mafia: How It Illegally Imposes And Unlawfully Collects Income Taxes” by Irwin Schiff in the “land of the free.” “The bad news is, we are going to live through another Great Depression and it’s going to be very different. This will be in many ways, much much worse, than what people had to endure during the Great Depression,” Schiff says. “This is going to be a dollar crisis.” “These hot inflation numbers that we’ve been getting are going to get a lot hotter…all this inflation that has been in the financial markets, in the stock markets, in the bond market, in the real estate market, everybody loved inflation when it was making you rich…the problem is going to be when it makes you poor. That’s when it starts showing up in the cost of living; all the things you need to buy end up being a lot more expensive.” “When you are talking about the magnitude of the debt we have, that extra money [raising interest rates] is big. That’s going to be a big drain on the economy to the extent that we have to pay higher interest to international creditors…a lot of this phony GDP is coming from consumption, while the average American who is consuming is deeply in debt and they are going to impacted dramatically in the increase in the cost of servicing that debt…given how much debt we have, and how much debt is going to be marketed the massive increase in supply will argue for interest rates that are higher.” “The Fed thinks they create economic growth…by [saying] ‘let’s jack up the stock market and then the economy’s going to grow and people are going to go out and spend more money.’ It’s actually doing damage. If you create a bunch of phony wealth, and people end up spending money that they otherwise would have saved, you are undermining economic growth.” “Everything the Fed has done has undermined real economic growth, that is why this coming collapse is going to be so devastating,” says Schiff. “It’s shrinking government that grows the economy. When you make government smaller and you free up resources back into the private sector, that’s what grows the economy.” Schiff again suggests looking at gold as a way to protect yourself against the dollar’s collapse. Poster Comment: Is Schiff referring to a scenario in which the Democrat-Communist Party again has the majority in Congress. I thought even the most illiterate Demo-Commie base would see the folly of committing economic suicide. It’s my plan to find the Elite’s underground bunkers and outfit their air intake pipes with a toilet seat, and day after day grab my newspaper, mount the toilet seat, and then let er fly. They can breathe that in for a few days before they give up and come out to face justice. Post Comment Private Reply Ignore Thread Top • Page Up • Full Thread • Page Down • Bottom/Latest #1. To: IbJensen, All (#0) (Edited)
#2. To: Gatlin (#1) "CNBC" I don't believe anything from these TV forecasters. When have they ever told the truth. I do not go to church every time the doors are opened, but I love Jesus Christ. I am only human and fail Him daily. I believe Jesus is the Son of God, was born of a virgin, was crucified on a cross, died for my sins and rose from the dead and that He loves us dearly, and is faithful to forgive us of our sins. But He says that if you deny me in front of your friends I will deny you in front of my Father. Can I get an Amen! #3. To: U don't know me (#2)
#4. To: IbJensen (#0) ‘We Will Live Through Another Great Depression Which Will Be MUCH MUCH WORSE’ This statement is correct. The reason is, beneath all the psychobabble there is little attention to the real basis of economics.
#5. To: rlk (#4) I will never stop believing that the enemy of American economy and a wholesome family life is that damned central socialist government. That evil government has created slums and a core of welfare hogs, criminals and evildoers in every American city. In every city the slum keeps crawling. The streets are full of stick figures that waddle down the streets slowly like the zombies they've become.
This race bating has set the Negroes back to the 1950's! They are the anchor around the neck of the American economy. Gone are the days when a negro father sat proudly at the head of the table watching his family eat the food that he provided through honest work. Now daddy is gone. The wild looking youths seated at the table have hair styles that make them resemble buffalo are greedily shoving KFC into their pie holes not speaking because their dialect is so confusing even they can't understand it.
The boys plot the next drug deal or fix. The girls are wondering who they'll let screw them tonight and how much they'[l charge. They want to get pregnant so that Uncle Whiskers will pay them money and give them stamps that they can use to buy anything.
What's missing from America's dilemma? GOD! Adherence to the ten commandments and a school where the three R's are drummed into their napp0y little skulls instead of how to slide a condom over a banana. Selfish, Godless politicians are the contributors to this 'Great Society.' At what point will a majority realize that enough is quite enough? Liberals are like Slinkys. They're good for nothing, but somehow they bring a smile to your face as you shove them down the stairs. #6. To: IbJensen (#0) Financial guru Peter Schiff, who accurately predicted the recession of 2008.... The problem being that Schiff, like Ron Paul, had issued jeremiads of doom against the evils of fiat currency and the Fed for decades and they were wrong every single year. Until there finally was a collapse in 2008. Now they try to pretend that they are unsung prophets instead of just trying to cash in on having finally been right once in 2008 about doom-doom-doom. The accuracy of their predictions can be compared to the stopped clock being right twice a day. I like Ron Paul but an accurate financial prognosticator, he is not. He may well be right about an ultimate collapse due to the Fed, massive debt, and overinflated currency but so far he doesn't have much to show for his doommongering.
#7. To: IbJensen (#0) Peter Schiff: ‘We Will Live Through Another Great Depression Which Will Be MUCH MUCH WORSE’ Only if things go according to plans. In the entire history of the world,the only nations that had to build walls to keep their own citizens from leaving were those with leftist governments. #8. To: IbJensen (#5) What's missing from America's dilemma? GOD! Adherence to the ten commandments and a school where the three R's are drummed into their napp0y little skulls instead of how to slide a condom over a banana. Selfish, Godless politicians are the contributors to this 'Great Society.' Yup! Why sell yourself into slavery to some little communist punk that can only kill or imprison you if you don't follow his dictates,when you can sell yourself to an "all-powerful GAWD!" that can tag your ass with a lightening bolt,and THEN make you burn for all eternity in a vat of burning oil if you piss HIM off? In the entire history of the world,the only nations that had to build walls to keep their own citizens from leaving were those with leftist governments. #9. To: IbJensen (#0) BTW,one of AlGore's daughters married into the Schiff Family. I ain't saying they are old money,but the first Schiff to come to America after escaping from Russia one step ahead of the Czars police managed to STILL have enough money after abandoning all that Russian property to lend the Japanese enough money to build the Naval Fleet that defeated the Russian Navy in the Sino-Japanese War of 1905. Can you even begin to imagine how much wealth they had before the Czar seized their Russian bank accounts and real property? In the entire history of the world,the only nations that had to build walls to keep their own citizens from leaving were those with leftist governments. #10. To: sneakypete (#8) .....when you can sell yourself to an "all-powerful GAWD!" that can tag your ass with a lightening bolt,and THEN make you burn for all eternity in a vat of burning oil if you piss HIM off? You don't sell yourself to 'Gawd'. Very poor syntax that soundeth like an oath. Liberals are like Slinkys. They're good for nothing, but somehow they bring a smile to your face as you shove them down the stairs. #11. To: IbJensen (#5) At what point will a majority realize that enough is quite enough? Never because an increasing proportion of younger generations gets propagandized into supporting it.
#12. To: IbJensen (#5) At what point will a majority realize that enough is quite enough? When the robots march down the streets exterminating the rabble
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