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Schiff on whty the "Stimulous" won'twork

Discussion in 'Financial Cents' started by Tango3, Feb 11, 2009.

  1. Tango3

    Tango3 Aimless wanderer

  2. Tango3

    Tango3 Aimless wanderer

    Peter Schiff has attained a kind of untouchable guru status for predicting the crash. In the video above he says"we have to let the old system fail , and build anew economy based on getting backto producing and saving!",
    While that makes a great 30 second sound bite.;I call "foul".
    like a snake eating its tail: if we "magically" opened a bunch of factories and made our own plastic pumpkins, who's gonna buy all this productivity? the Chinese? Seems there's real money out in the world, not as much as all these cdo's and leveraged debt would have you believe. IMHO We needto find the core"real" wealth and unleverage all the fake money,let it slip away beneath the surface like that actor in "titanic"...[dunno][sinking][sinking]
    But a bunch of mcmansion people who thought they were rich will have to be be brought back to earth.[wannamesswitme]
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