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Re: Hyperinflation Podcasts – Shedlock vs. Lira, etc./ The …

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  • Sun, Sep 12, 2010 - 02:25pm

    #12
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Hyperinflation Podcasts – Shedlock vs. Lira, etc./ The …

“Politically it would be impossbile to call for haircuts.  … calling Peter Schiff “the guy who wants to take away your social security”  On the flip side, if the govt does cut Social Security and Medicare, I wont expect to see 75 year olds rioting in the streets.”

Maybe things will need to get worse, or at least another financial shock may need to hit, before the general public will accept that they are nklt going to see those promises kept.  The sad thing, is by failing to address the real issues now, what will be left for the Boomers in their retirement, is getting smaller and smaller, as the damage to the economy escalates.

Here in HK, we had a visit from a very savvy and well-known economist recently (who shall remain nameless here), and I got a chance to speak with him/her privately.  I found out that he/she was living in Connecticut, and I asked for an opinion of Peter Schiff’s campaign.  What I heard was that he was “right about the economy for the wring reasons”, and that some of his policies made sense.  However, people who had met Peter and knew him over the years, were put off by his personality, and his “rather huge ego.”  Somehow this all rang true to me.  Just look at the way that Mish sent money to Peter to help his campaign, and somehow they wound up with a feud.  

The Libertarian movement will need to find candidates who are less likely to alienate potential voters.