Yeah I know we’ve put up a number of Peter Schiff videos, but I came across the compilation of "Schiff Analogies" and decided that I had to post it:
Maybe we need to coin another term- "Schiffisms".
Bubble Meter
Ohio Fraudclosure
Mish's Global Economic Analysis
Northern Virginia Housing Bubble Fallout
UK House Bubble
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I think ‘junkie’ is the best description for the american consumer, and we definately need to go to rehab.
But instead of checking into the clinic and suffering the withdrawls, the fed has us all lining up at the methadone clinic and somehow think we’re getting better.
Igor is concerned, indeed. I think we need to add ‘relapse’ to his vocabulary, as well.
did anyone catch how gray he got in a short period of time? he does a good job of “dumbing down” everything to a 5th grade level, but i still think he needs to aim lower in order for the feds to get it.
Very few junkies would listen to hard advises presented in this fashion. Reducing consumption is politically damaging to be spoken out loud, but it’s happening right now. People actually look at the house prices and stock accounts and decide to spend less recently.
You can tell by this video that Peter believes that people don’t get it. Well maybe people don’t get Macroeconomics, but I believe most people knows that we’ve been spending on borrowed money and it doesn’t seem to hurt much right now and everybody is doing it anyway.
Bang On Keith ! I was born and live on the opposite side of the planet. But you guys are absolutely right ! The major f*** up is we’ve spent our entire lives aping the US. Shame on us.
[Slight edit. -t.]