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NetRunner (Member Profile)

dystopianfuturetoday says...

Peter Schiff *Failboat.com.org

In reply to this comment by NetRunner:
Definitely one to mark down:

Schiff says we'll have a crash of our economy driven by hyperinflation by the end of the year, or maybe in 2010.

Krugman (who unlike Schiff is a Nobel prize winning economist) also predicted the problem we're having now, and says if we don't do something even bigger than an $800bn stimulus, we're in for a deflationary problem, just like the Great Depression.

Clearly, someone will be proven right, even if disaster ensues.

Flim-flam artists like Schiff should know better, if the problem now is because Greenspan made the interest rate too low in 2002 then the real problem is that our current 0% interest rate will cause a new asset bubble that will collapse, so he should allow for a much longer period of time for it to gestate, like say Obama's second term, 2014 or so.

But that wouldn't get him on the TeeVee machine to throw bricks at Democrats as often.

Koch Brothers lackey Peter Schiff gets schooled by OWS

ghark says...

>> ^RedSky:

>> ^heropsycho:
They're both fools. Both offered overly simplistic rationalizations for complex issues, or sometimes didn't even offer that.

x2, x3, x4.
The argument oscillated between being against free trade and disbanding massive government departments because they're inefficient rather than reforming them. In other words there was no actual discussion and it was just two people shouting separate ideas at each other.


x5

Koch Brothers lackey Peter Schiff gets schooled by OWS

Jinx says...

>> ^Boise_Lib:

>> ^Jinx:
I dont think he got schooled at all. Well, unless you think ad homs are cool.

He talked, and acted, like a fool--he got called a fool.
Petey tried to control the conversation with talking points--he couldn't.
Schooled.

No sorry. Talking points or not he did still make points. Points that could have been deconstructed and debated. Instead we got some guy calling him an idiot, which true as it may be is probably something any of us could do on our worst days. So no, he wasn't schooled. He is an idiot though and I would like him to get properly destroyed by a real argument, and not just this schoolyard shit.

Oh wait. I suppose in that sense he was "schooled". GODDAMN I'M WITTY.

Koch Brothers lackey Peter Schiff gets schooled by OWS

RedSky says...

>> ^heropsycho:

They're both fools. Both offered overly simplistic rationalizations for complex issues, or sometimes didn't even offer that.


x2, x3, x4.

The argument oscillated between being against free trade and disbanding massive government departments because they're inefficient rather than reforming them. In other words there was no actual discussion and it was just two people shouting separate ideas at each other.

Koch Brothers lackey Peter Schiff gets schooled by OWS

Koch Brothers lackey Peter Schiff gets schooled by OWS

Boise_Lib says...

>> ^Jinx:

I dont think he got schooled at all. Well, unless you think ad homs are cool.


He talked, and acted, like a fool--he got called a fool.

Petey tried to control the conversation with talking points--he couldn't.

Schooled.

Herman Cain's 9-9-9 plan, Occupy Wall Street

W, V, U or L: How Is the Economic Recovery Shaping Up?

NetRunner says...

>> ^marinara:

Jobs created are less than we need for natural growth of population (but we're in a recovery)


I think people get pretty hung up on the technical terms. "Recession" means all the growth indicators are trending downward. "Recovery" means all or most growth indicators are trending upward.

Most people think "recession" means "the economy is bad" (aka below peak), and "recovery" means "the economy is good again" (aka in record territory). That's not what economists mean when they use those words.
>> ^marinara:
bank bailouts cause the 'lost decade' period. Contrast to iceland, which is in recovery, and they bailed out no banks.


Bailing out the banks doesn't cause the lost decade, it's the fuckup that made the banks need bailing out that causes it. Letting them collapse catastrophically doesn't make the economy better, it just makes the recession deeper and longer; just ask Herbert Hoover!

What Iceland did differently wasn't that they didn't bail out the banks, it's that they didn't ask their taxpayers to pay for it. They let the banks default on their international debts (which was most of it), had their central bank print up the money to cover their domestic debts (and then some), and instituted capital controls (taxes on international investment) to prevent people from pulling their money out of the country.

In other words, they did the polar opposite of what people like Peter Schiff or Ron Paul want anyone to do, and it's working out pretty well.

'College Conspiracy' - the full documentary

blankfist says...

@NetRunner,

Peter Schiff: The dollar closed weak last year. The inflated dollar is pushing commodity prices up.

Paul Krugman: Make it weaker. Stimulus. More jobs. Yay! I like beards!

The investments are proving correct. And the recession was said to be officially over, but everyone knows it's not. Things are getting a lot worse. Prices are going up, the dollar is going down. Commodity prices continue to go up.

'College Conspiracy' - the full documentary

'College Conspiracy' - the full documentary

NetRunner says...

>> ^blankfist:

>> ^NetRunner:
>> ^blankfist:
And their stock suggestions have worked out well for me. But that's mainly because I think it's a good idea to bet against the US dollar, especially now, and their stock suggestions are basically mostly that.

So be specific, how are they saying to bet against the dollar? Buy gold and silver? Buy foreign currency or foreign stocks & bonds?
Which of those have paid off big (you mentioned tripling your 401k)?

I didn't say they said "bet against the dollar". I said that. They don't sell gold or silver, either. They review companies that do though. And as far as I can tell they're not selling anything.
They have a number of stocks they think will do well as the currency inflates, and so far they've been spot on. Mainly mining companies and the occasional agriculture company. Read on.
http://inflation.us/stocks.html


Intro paragraph at that link:

One of our missions at the National Inflation Association is to discover and profile companies that we believe will prosper in an inflationary environment. Typically we will bring to you producing, profitable, Gold and Silver companies with strong balance sheets. We believe these stocks have a chance of becoming some of the best performers of the next decade.

That said, those look like decent enough picks, even if the much ballyhooed hyperinflation never actually arrives. They've got oil, gas, food, tech stocks, even some potash (very trendy) in there, which are mostly bets that global warming is real, the oil is running out, and the developing economies will rapidly increase their demand for food & oil over the next decade. All safe bets!

Though the bulk of it is stock in precious metal traders and miners, and I'm not sure that quite counts as "betting against the dollar" so much as betting that the hysteria about inflation will lead to a boom for gold traders. At least inflation.us knows which side their bread is buttered on.

Assuming these companies themselves aren't scams, they're not setting you up to lose your shirt if Paul Krugman continues to be right, and Peter Schiff continues to be wrong. You might take a hit if/when a Republican reclaims the White House, and all the talk of inflation disappears though.

Ron Paul "Both Republicans & Democrats Agreed To Fund Wars"

NetRunner says...

>> ^GeeSussFreeK:

I don't recall anything about pacifism in his speeches, only non-interventionism and anti-colorization.


Right, that's basically my point. He doesn't seem to think war is bad because it kills people, he thinks it's bad because it conflicts with his ideology about the proper role of government.

>> ^GeeSussFreeK:
And he has frequently said that to just abolish the safety net is also a bad idea, so hardly an extremist. That is more of a straw-man representation of his views on transitioning to a more free market based society and less regulated.


All I hear in there is "he doesn't want to abruptly end them, he just wants to slowly phase them out", which if you were objective about it means that he's more worried about a popular backlash stopping the destruction of the social safety net, and not actually in favor of preserving them.

>> ^GeeSussFreeK:
I think it is important to note the difference in being anti-war being legal and not moral. Morally, we can't all agree anyway. Was our intervention in WW2 moral? Is killing ever good? A president can't answer those questions, and shouldn't, and nor should congress. What they should preside over is if a majority of people want war, we war, regardless of its moral good or badness. Morality is the charge of the citizens, not the congress. It is also their job, the citizens, to not let their congress take that charge from them. Good and bad shouldn't be a matter of law, that is the most dangerous of all ideas.


This is potentially the beginning of a really long conversation, but to be short about it, what is law for if not an attempt to create justice in a society? What is justice if not applied morality? Yes, no single person or institution should get the exclusive right to decide what is and isn't moral, but single people and institutions get to make important decisions that impact lots of people, and I think it's safe to say that we want them to make those decisions in a way that's compatible with the morals of the people who entrusted them with the power to make those decisions.

In other words, if Paul wants the codes to the nuclear weapons, Paul's personal code of ethics matters a great fucking deal if he wants me to achieve that power.

>> ^GeeSussFreeK:
Being skeptical is always good, but look as his company.


I do, and that's the thing that bothers me. Take John Tate, who runs C4L. Not a day goes by that I don't get e-mail from him that a) refers to the left as statists, socialists, or tyrants, b) lies about legislation that Democrats are or have proposed, and c) promotes a wide array of pro-corporate Republican policies.

Take Peter Schiff, who's lost his clients' a truckload of money betting on hyperinflation, and who goes on TV constantly to try to sell people on the idea that hyperinflation is around the corner, will destroy America as we know it forever, and that you can protect yourself by buying gold from his website.

Those are just the ones I recall clearly, but I remember there being quite a list of shady characters he'd brought into his campaign in 2008.

Yes, he sometimes "stands with" Kucinich or Nader on an issue, but it's never some positive proposal they want to try to work on passing together. Instead, it's always a case of Kucinich or Nader objecting to something the Democratic party is doing, and Ron Paul "stands with them" in an attempt to try to win some converts amongst liberals frustrated with Democrats.

IMO, he's very, very untrustworthy. I've had plenty of experience with sociopaths, and I quite seriously get that vibe from Ron Paul.

vaporlock (Member Profile)

Overdose: The Next Financial Crisis

siftbot says...

Tags for this video have been changed from 'overdose, financial crisis, subprime, peter schiff, Johan Norberg' to 'overdose, financial crisis, subprime, peter schiff, Johan Norberg, Bush, Obama, debt' - edited by blankfist

The Glenn Beck-Goldline Scam in One Flowchart (News Talk Post)



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