Now they are getting mad at Schiff
Sorry, I meant now
Ha! I thought there was just a missing comma.
This video again brings up whether or not the policy of "quantitive easing" is actually doing anything to ameliorate the recession. As I watch the numbers, debt is being wrung out of the bank, consumer and business sectors, while it is sky rocketing in the government sector. I am not sophisticated enough in economics to figure out what effects these measures will have, but reductions in private sector debt have to be a good thing. Seems to me that these may have positive effects on easing the flow of money from banks to banks and to businesses. Of course, if consumers don’t start buying and borrowing again, it will all probably be in vain because they are ultimately the engine that keeps the private sector working. Of course, consumers are also taxpayers, so in a sense it’s taking money out of their pockets in the future, to stimulate the flow of credit between financial institutions and businesses today.
Schiff clearly has the view that any government intervention ever in the economy can only be negative. I don’t share that view, because, depending on how government money is spent, it can have tremendously stimulative effect. For instance, government subsidies for fundamental scientific research has been shown to have multiplier effects throughout the economy far into the future.
My basic question on quantitive easing is whether it will be a dismal failure, or will at least kick the can down the road a ways and provide a gentle landing instead of a crash. Comments?
that squaking flapping dude is intolerable, like a desperatly hungry baby bird nesting in your ear, he asks a dumb question and then continually interupts so it cant be answered. Embarrasing
Its like deja-vu, didnt i see another video with those 2 from months back? hasnt everything that Stephen Leeb said (im sure theres a great anagram in there) in that segment since been shown to be a load of old bullocks? he should try listening for once and save us from that blackborad scraping voice
I find all the screaming and yelling on these shows to be silly and comical.
Title fixed -Erik
Is that an inference or are you taking that as implied from what Peter Schiff says in this interview (as far as he is able to say anything given the behaviour of Mr Leeb)? If the former, I certainly don’t get that impression. What he DOES appear to be saying is that what the Government is doing now, for the problems that are faced now, is wrong and with that I agree.
Lest you think I disagree with you, I don’t. Although I do think (cynic, me) that there can be, and is, politicisation of getting government subsidies (studies on proving – or disproving – global warming?) nonetheless governments DO provide money for research.
Let’s not forget the REAL meaning of the euphemism ‘Quantitative Easing’ – printing dollars as fast as possible (or inputting 0s and 1s as fast as the computers will do so, so that Ben can say with a completely straight face ‘We are NOT printing more dollars’). Is that going to make people spend when they don’t want to? I don’t think so.
is there a way i can short leeb capital management? wtf, world war 2 was a stimulus package? wars are DESTRUCTIVE not PRODUCTIVE!
we crawled out of the great depression because our competitor, europe, was DESTROYED by ww2. able-bodied men were killed off by the thousands. factories, cities were destroyed. after the war the US had an incredible comparitive advantage along with all the technologies it had developed from the war efforts. that’s the answer!
i went ahead and posted this on the youtube site as well, i always get the most interesting comments from youtube guests.
It makes me wonder why CNN would have this dolt on to debate Schiff. I just love how calm Peter is against this guy.