8/28/2006-Peter Schiff Predicts The US Economic Collapse

Discussion in 'YouTube Digest' started by yennus, Jun 7, 2015.

  1. yennus

    yennus Well-Known Member Silver Stacker

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    [youtube]http://www.youtube.com/watch?v=LfascZSTU4o[/youtube]

    Interesting to see developments from 2006.
     
    yennus, Jun 7, 2015
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  2. errol43

    errol43 New Member Silver Stacker

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    Yep..He was spot on...There were not too many others that got it spot on..

    The Australian government also forgot to tell the Australian people about two of the big 4 banks that got a bailout from the US FEDERAL RESERVE.

    In the mean time US debt has doubled since the GFC, and still there are doubters that another GFC is on the way soon.. Even Lord Monkton has warned the sheep.

    Derivatives in the $quadrillions is the canary in the coal mine.

    Anyway that is MO and I'm sticking to it.

    Regards Errol 43
     
    errol43, Jun 7, 2015
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  3. perthsilver

    perthsilver Member Silver Stacker

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    Hope Peter got his penny. Would love to hear if he did.
     
    perthsilver, Jun 7, 2015
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  4. -j-p-shmorgan

    -j-p-shmorgan New Member

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    -j-p-shmorgan, Jun 7, 2015
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  5. phrenzy

    phrenzy In Memoriam - July 2017 Silver Stacker

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    I was watching some of his other videos from around that time through to 2009 and he talks a lot about how the ball outs were going to make things worse. My gripe is that they took hat money and they were so inpatient to get results that they put it straight into the Financials. I know they did some shovel ready stuff and the TARP bailouts saved the US auto makers (and was actually better than cost neutral), but can you imagine the long term economic benefits if they had spent all those hundreds if billions on infrastructure, technology research with near term industrial benefits and higher education for people? Again, I know a little if they happened, but so much of the money was just thrown at the various markets to get bigger numbers up on the bord to make everyone feel better about the situation while in the meantime most of the bridges in the United States are in disrepair (seriously, most have serious engineering issues). If you want to look at an economic time bomb you should look into the state of US roads, bridges, rail networks and similar infrastructure, state and local governments in dire economic straits (some actually bankrupt) and can't afford to fix them, much less upgrade them to increase efficiency and capacities. In another 10 to 20 years this will be a huge problem to the point of being an obvious drag on the economy and every year they put off fixing it the less likely they are to be able to do it. The country is falling apart.

    People are so scared of debt but debt isn't he problem, borrowing the money Ave pissing it away is. If you borrow to use the money for economic enablers and drivers it works for you.
     
    phrenzy, Jun 7, 2015
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  6. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    Clawhammer, Jun 7, 2015
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