Now they are getting mad at Schiff

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castlewp's picture
castlewp
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Now they are getting mad at Schiff

castlewp's picture
castlewp
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Re: No they are getting mad at Schiff

Sorry, I meant now

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mainecooncat
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Re: No they are getting mad at Schiff

Ha! I thought there was just a missing comma.

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Doug
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Re: No they are getting mad at Schiff

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?

 

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Re: No they are getting mad at Schiff

 

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

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Re: Now they are getting mad at Schiff

I find all the screaming and yelling on these shows to be silly and comical.

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Re: No they are getting mad at Schiff

Title fixed -Erik

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Re: No they are getting mad at Schiff

Doug,

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.

David

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kemosavvy
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Re: Now they are getting mad at Schiff

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.

castlewp's picture
castlewp
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Re: Now they are getting mad at Schiff

It makes me wonder why CNN would have this dolt on to debate Schiff.  I just love how calm Peter is against this guy.

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Doug
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Re: No they are getting mad at Schiff
DavidC wrote:

Doug,

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.

I'm not sure what you're referring to, I have heard enough from Schiff to at least have the impression that he is against any and all government interference in the free market system.  As to the specific issue of quantitative easing, I'm simply not sure that he is right.  Financial institutions do seem to be stabilizing, gold isn't going through the roof, the dollar is still strong, gas is cheaper and the markets are moving sideways instead of down.  Part of me feels that this is the calm before the storm, and the storm will hit soon after the new year, and another part thinks that just maybe the guys at the fed and treasury might have an inkling about what they're doing.

Quote:

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.

That's the question, isn't it?  Will people continue their credit binge or will they do the right thing and save?  If they do the former, they may delay the payback that is coming, but if they do the latter, they will bring on the crisis sooner rather than later.  At least, that's my impression.  But, I really don't know the answer.  That's why I'm asking for opinions.

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James Wandler
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Re: Now they are getting mad at Schiff
barrt wrote:

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

...hasnt everything that Stephen Leeb said ... in that segment since been shown to be a load of old bullocks? he should try listening for once and save us from that blackboard scraping voice

rufus wrote:

I find all the screaming and yelling on these shows to be silly and comical.

castlewp wrote:

It makes me wonder why CNN would have this dolt on to debate Schiff.  I just love how calm Peter is against this guy.

Thanks castlewp for the post,

I recommend that everyone watch this for the comedy value. I'm still LOL.

All the best,

James

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Re: Now they are getting mad at Schiff

It is all part of the show. Make the show redicoulous and at the same time they make Schiff redicoulous.

barrt's picture
barrt
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Re: Now they are getting mad at Schiff

great idea to short Leeb!, here's his fund http://finance.google.com/finance?q=MUTF:LCMFX 

I couldnt find Schifffs, I dont think its listed, but if anyone knows different it would be great to compare the 2 directly

And heres the deja-vu video from early Oct (I think) where they had a similar squaking match

 Leebs fund has gone down considerably since then. Notice also his brag about having predicted the crash 2 years before Schiff, if he did see it coming, why did he allow his fund to plummet 45% or so? I think the difference is one of panic, Leeb was panicking then and is panicking even more now. Schiff on the other hand seems comfortable and confident. Id love to see a chart of Schiffs fund, Euro Capital Management I think its called.

Squak squak, flap flap, fall fall, splat.

barrt's picture
barrt
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Re: Now they are getting mad at Schiff

If you had asked me to write a list of 25,000,000,000 people who might appear as a vocalist on some dance music Mr SLeeb would NOT have been on that list

Oh no, damm, sorry about the above typo, obviously there is a space between S and Leeb, no disrespect intended Embarassed

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WhatNext
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Re: Now they are getting mad at Schiff

wow.  how can Schiff put up with this guy.  He's like the short kid in grade school that has to be right.  Like nails on a chalkboard.

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