We are the largest debtor nation in the world because we have the largest economy in the world. Any major number connected to us is going to be huge when compared in absolute value to other nations. And yes, in the long run, we do have fiscal problem that needs addressing. But Schiff and his crew say that we are presently bankrupt, which is not the case. Not the case at all.
As soon as China and the few others decide to stop propping the dollar up and no longer buy our treasuries we’ll default in no time. Our debt is impossible to pay back (especially with our current financial policies) and China, Japan and the Saudies know this. They also know that dumping the dollar would hurt them in a major way, thus the reluctant support for the dollar. This will end at one point and we’ll be in huge trouble. We are the largest debtor nation in the world!
Economically illiterate? I wonder how well you can read at all, you clearly did not take the time (or have the ability) to accurately read my comment. I did not say that we weren’t running deficits, or that our deficits were not big. I said we were not about to be bankrupt, and that we are still solvent. There is a difference between running a deficit and being insolvent, but you wouldn’t know that since it is you who is economically illiterate. Get a clue, read a book.
The GDP numbers are horribly inflated and doctored. You would know this if you were economically literate.
We are the most indebted country on the planet ever in history. We are running record deficits. Our deficits are growing exponentially at about the rate of 8.8% per year. Our economy, even measured in the farcical GDP number you illiterates so love to toss around, rarely grows more than 5% per year anymore. Do the math…if you know how.
Listen you co-jackel! All of you try to defend the bankers, business’s and say that giving breaks to the rich! the rich take the money and Corporations to other Countries!
Thats nonsense. We have a much lower debt to GDP ratio than other solvent nations such as Italy and Belgium, which are in relatively much more debt than us. WE are nowhere near “bankrupt.”
Is this guy serious? Laizze-faire economic theory says that we shouldn’t step in when banks act the way they did. Banks didn’t have enough capital reserves, they made millions of bad loans, and they took on too much risk. The fact is nobody stepped in the way to stop them = laizze-faire
Also, fannie and freddie mac are not the causes of the recession (though they are part, but not nearly the major cause).
I’m looking forward to the Atlanta (10th Amendment Summit) Event.. .if anybody here lives in the NE Atlanta/Gwinnett/Dacula area send me a message. We can get a carpool going and join our efforts.. .
To view event announcment paste in YT home link >> watch?v=ynVbkfXvewU&feature=player_embedded#
oh dear, looks like this is the favorite hangout for the looney tunes. robertmike57 contradicts whole human history, but you retard are too stupid to notice
OK. Family meeting folks, need to cut cost, for starters bare bone essentials only, canceling all insurance policies (frauds anyway) walk away from credit cards (Fico: huge fraud), walk and bye bye underwater mortgage. Hey,.it’s just a pragmatic family business decision. Got the idea from too big to fail banks, I hear they are really good at it. Start me a family weed garden, shop local, pop me a cool one and,..Oh well Fuck it!
@juliaisafilmbuff123 We would have to level with the government’s creditors, both foreign and domestic, and restructure our debt. We would finally and honestly declare bankruptcy. The dollar would lose value as a result. We will lose our world reserve currency status. The costs of basic commodities and foreign made products will increase while our wages will effectively stay flat or decrease. It will be the fall of America akin to the fall of the Soviet Union in the late 80s and 90s.
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Xenadrine RFA-1, Metabolife 356, Hydroxycut, Metabolift, and more.
HEAT SCA Stack will give you the strong stimulant effect of pharmaceutical grade diets. Contains also Cayenne Pepper, the secret ingredient Beyonce used for her role in “Dreamgirls.” It is all natural and will not give you the side effects of the pharmaceutical ones. Click on my name above.
I only mentioned Russia cause their response to this crisis is to privatise more of their industries(in order to get them running in a profit not a loss) which is the opposite of a lot of countries in the west who are socialisng their industries allowing them to continue to be a burden to society running at losses.
But is you want a good example of a capitalist country look at Hong Kong or Singapore.
Hong Kong has been voted freest /most capitalistic contry in the world 10 years in a row.
Leave Alan Grayson out and I would be okay with that. Grayson is a pompous idiot who, while maybe being opposed to the Federal Reserve, wants to saddle us with government ran health care.
Peter Schiff, Ron Paul, Allen Grayson, and Jessie Ventura should organize a grass roots uprising to push for the end of the Federal Reserve and the Central Banking system in general. Our Constitution, Article 1 Section 8, provides that Congress shall coin money and regulate the value thereof–not some band of international bankers who we don’t even have the right to know the identity of!!
The amount of the student loan “forgiveness” after 20 years is a taxable event, much like an IRA distribution. If you are “forgiven” $100,000 and pay 20% income tax, you’ll need $20,000 for the tax man, immediately. If you are employed in “qualified” profession, the forgiveness is not taxable. There will be short term civil service job programs you can participate in that will make part of your taxable “forgiveness” tax-free. Join or Pay. The Freedom is Yours!
We are the largest debtor nation in the world because we have the largest economy in the world. Any major number connected to us is going to be huge when compared in absolute value to other nations. And yes, in the long run, we do have fiscal problem that needs addressing. But Schiff and his crew say that we are presently bankrupt, which is not the case. Not the case at all.
@hoodoo961
As soon as China and the few others decide to stop propping the dollar up and no longer buy our treasuries we’ll default in no time. Our debt is impossible to pay back (especially with our current financial policies) and China, Japan and the Saudies know this. They also know that dumping the dollar would hurt them in a major way, thus the reluctant support for the dollar. This will end at one point and we’ll be in huge trouble. We are the largest debtor nation in the world!
Economically illiterate? I wonder how well you can read at all, you clearly did not take the time (or have the ability) to accurately read my comment. I did not say that we weren’t running deficits, or that our deficits were not big. I said we were not about to be bankrupt, and that we are still solvent. There is a difference between running a deficit and being insolvent, but you wouldn’t know that since it is you who is economically illiterate. Get a clue, read a book.
Wow, keep drinking the koolaid Mr. Doo!
The GDP numbers are horribly inflated and doctored. You would know this if you were economically literate.
We are the most indebted country on the planet ever in history. We are running record deficits. Our deficits are growing exponentially at about the rate of 8.8% per year. Our economy, even measured in the farcical GDP number you illiterates so love to toss around, rarely grows more than 5% per year anymore. Do the math…if you know how.
Listen you co-jackel! All of you try to defend the bankers, business’s and say that giving breaks to the rich! the rich take the money and Corporations to other Countries!
Thats nonsense. We have a much lower debt to GDP ratio than other solvent nations such as Italy and Belgium, which are in relatively much more debt than us. WE are nowhere near “bankrupt.”
Is this guy serious? Laizze-faire economic theory says that we shouldn’t step in when banks act the way they did. Banks didn’t have enough capital reserves, they made millions of bad loans, and they took on too much risk. The fact is nobody stepped in the way to stop them = laizze-faire
Also, fannie and freddie mac are not the causes of the recession (though they are part, but not nearly the major cause).
I’m looking forward to the Atlanta (10th Amendment Summit) Event.. .if anybody here lives in the NE Atlanta/Gwinnett/Dacula area send me a message. We can get a carpool going and join our efforts.. .
To view event announcment paste in YT home link >> watch?v=ynVbkfXvewU&feature=player_embedded#
oh dear, looks like this is the favorite hangout for the looney tunes. robertmike57 contradicts whole human history, but you retard are too stupid to notice
OK. Family meeting folks, need to cut cost, for starters bare bone essentials only, canceling all insurance policies (frauds anyway) walk away from credit cards (Fico: huge fraud), walk and bye bye underwater mortgage. Hey,.it’s just a pragmatic family business decision. Got the idea from too big to fail banks, I hear they are really good at it. Start me a family weed garden, shop local, pop me a cool one and,..Oh well Fuck it!
do you want to get us jobs, or just get elected… cause everyone that looks honest becomes a serious spender when they get elected…
@juliaisafilmbuff123 We would have to level with the government’s creditors, both foreign and domestic, and restructure our debt. We would finally and honestly declare bankruptcy. The dollar would lose value as a result. We will lose our world reserve currency status. The costs of basic commodities and foreign made products will increase while our wages will effectively stay flat or decrease. It will be the fall of America akin to the fall of the Soviet Union in the late 80s and 90s.
@AtlasShruggery
He didn’t call to bomb Iran. Many might not agree with his comment, but you are misrepresent what he said.
Schiffty Pete the Neocon. Wonder if his call to bomb Iran is connected to his prediction that the price of gold will rise to $5,000 per ounce?
Ephedra and Ephedrine diet pills are scientifically proven to melt fat and raise metabolism without diet or exercise.
Xenadrine RFA-1, Metabolife 356, Hydroxycut, Metabolift, and more.
HEAT SCA Stack will give you the strong stimulant effect of pharmaceutical grade diets. Contains also Cayenne Pepper, the secret ingredient Beyonce used for her role in “Dreamgirls.” It is all natural and will not give you the side effects of the pharmaceutical ones. Click on my name above.
I only mentioned Russia cause their response to this crisis is to privatise more of their industries(in order to get them running in a profit not a loss) which is the opposite of a lot of countries in the west who are socialisng their industries allowing them to continue to be a burden to society running at losses.
But is you want a good example of a capitalist country look at Hong Kong or Singapore.
Hong Kong has been voted freest /most capitalistic contry in the world 10 years in a row.
@juliaisafilmbuff123
Yes, he can. No, it wouldn’t.
You’re assuming that it would happen immediately. Nobody said it’d be immediately changed. It takes time and Ron Paul has said that.
Leave Alan Grayson out and I would be okay with that. Grayson is a pompous idiot who, while maybe being opposed to the Federal Reserve, wants to saddle us with government ran health care.
I love it when Peter Schiff pounds on CNBC
Sell out.
Why would someone support you to go and add the 70th vote to Bernanke’s confirmation.
Peter Schiff, Ron Paul, Allen Grayson, and Jessie Ventura should organize a grass roots uprising to push for the end of the Federal Reserve and the Central Banking system in general. Our Constitution, Article 1 Section 8, provides that Congress shall coin money and regulate the value thereof–not some band of international bankers who we don’t even have the right to know the identity of!!
Can Ron Paul REALLY just abolish the Federal Reserve? And if he did, what would happen in the short-term? Would there be a lot of instability?
The amount of the student loan “forgiveness” after 20 years is a taxable event, much like an IRA distribution. If you are “forgiven” $100,000 and pay 20% income tax, you’ll need $20,000 for the tax man, immediately. If you are employed in “qualified” profession, the forgiveness is not taxable. There will be short term civil service job programs you can participate in that will make part of your taxable “forgiveness” tax-free. Join or Pay. The Freedom is Yours!
You, sir, have changed my YouTube life forever.
haha.. He would actually abolish the Federal Reserve before he become a chairman.