I know we have a lot of Peter Schiff fans, so I thought I’d post this debate between Peter Schiff and an economist from Columbia University, David Epstein. Epstein maintains that Obama’s economic policies are saving the economy: [Hat tip to Organized Exploitation via Freedom's Phoenix]
I’ve only seen the first 30 minutes as of this posting, but I thought Schiff was eating Epstein’s lunch- if anyone cares to report on the rest of the debate, please let us know.
“I thought I’d post this debate between Peter Schiff and an economist from Columbia University, David Epstein.”
Correction: Epstein is a professor of political science. It shows in his presentation, which is largely a discussion of economic history, lacking any analysis of economic cause and effect.
Consider his remark made at 3:30. “[P]rices decided to balloon up to about two times that…”
How do prices make a decision? Do prices operate independent from the action of buyers and sellers?
This is gibberish. His remarks indicate a reluctance to assign blame for the housing asset bubble to Alan Greenspan’s ill-considered decision to cut interest rates to 1%.
Schiff, by contrast, does not shrink from attacking Greenspan and Bush for their bad economic policies and Obama’s decision to repeat the mistakes of his predecessors.