You know I hate to do it, but another video from Schiff

[StageLeft]

One of his more grounded videos

He is not calling here for his typical buy gold, bullets, etc. and I think it's obvious that the US' deficit spending is in the same boat as other nations trying the same thing, but most of what he's saying does make sense. Really, the country is trying to fight fire with fire. It is borrowing to avoid pains caused by excess borrowing/future mortgaging.

We already have schiff debunk threads. He's no Jesus and lost tons of money for his clients in 2008, I think, so perhaps ignore the guy and listen to the message!

 

[LegendKiller]

Originally posted by: Skoorb
One of his more grounded videos

He is not calling here for his typical buy gold, bullets, etc. and I think it's obvious that the US' deficit spending is in the same boat as other nations trying the same thing, but most of what he's saying does make sense. Really, the country is trying to fight fire with fire. It is borrowing to avoid pains caused by excess borrowing/future mortgaging.

We already have schiff debunk threads. He's no Jesus and lost tons of money for his clients in 2008, I think, so perhaps ignore the guy and listen to the message!

Money is lent by people who have money. In this case, people lend money to the government and the government spends the money, mainly because they see the government as a more secure investor counterparty than those they could find on their own.

It is right pocket, left pocket. I agree that borrowing isn't good forever, but provided we can pay down eventually, doing so in a downturn isn't a horrible idea.

 

[bamacre]

He was on Fox, to...
http://www.lewrockwell.com/blo...w/archives/025163.html

 

[StageLeft]

Originally posted by: LegendKiller

Originally posted by: Skoorb
One of his more grounded videos

He is not calling here for his typical buy gold, bullets, etc. and I think it's obvious that the US' deficit spending is in the same boat as other nations trying the same thing, but most of what he's saying does make sense. Really, the country is trying to fight fire with fire. It is borrowing to avoid pains caused by excess borrowing/future mortgaging.

We already have schiff debunk threads. He's no Jesus and lost tons of money for his clients in 2008, I think, so perhaps ignore the guy and listen to the message!

Money is lent by people who have money. In this case, people lend money to the government and the government spends the money, mainly because they see the government as a more secure investor counterparty than those they could find on their own.

It is right pocket, left pocket. I agree that borrowing isn't good forever, but provided we can pay down eventually, doing so in a downturn isn't a horrible idea.

That is actually a great point. The government is blowing money, but it cannot blow what it does not borrow in the first place, so if investors are giving it money to blow at low interest rates, that does act as somewhat of a check against it.