Peter Schiff telling the truth about the economy once again... Trump, Obama, Bush etc

[Ben Simmons 25]

https://www.youtube.com/watch?v=vi_9DhpaNSI

It's just too bad that this guy's knowledge about the state of how things really are and how they're going to play out aren't able to be narrowed down to specific timelines for people to be really spoon fed undeniable truth... because the detractors will always say "just keep predicting it and it'll eventually ring true!" and they are just ignoramuses that haven't been paying attention for a decade.

No, fellas, nobody knows exactly when it's going to fall apart. That is true. But what we do know for sure currently is that the entire economy is a facade and that it IS going to fall apart. It's all bullshit.

[DCL]

tell you a lil secret about youtube...

when you watch a youtube video for an extended period, the algorithms of google take note and they will recommend similar videos, which you will probably watch as well because their job is to match your interests.

but the issue is that when this is happening, there's really no balance, so you receive all one-sided perspectives. if you keep this pattern for many nights and even weeks, months, and years, the "inception" effect will happen and influence your complete way of thinking and you won't even know it.

so when someone watches a bunch of videos about the apocalypse, they will continue to be bombarded with those recommendations nonstop. and then one day they spend all their money and build themselves a bunker.

to that person, it makes perfect sense because he has full faith that the apocalypse is imminent, but to others, they probably question if he is overdoing it.

[scuzzy]

tell you a lil secret about youtube...

when you watch a youtube video for an extended period, the algorithms of google take note and they will recommend similar videos, which you will probably watch as well because their job is to match your interests.

but the issue is that when this is happening, there's really no balance, so you receive all one-sided perspectives. if you keep this pattern for many nights and even weeks, months, and years, the "inception" effect will happen and influence your complete way of thinking and you won't even know it.

so when someone watches a bunch of videos about the apocalypse, they will continue to be bombarded with those recommendations nonstop. and then one day they spend all their money and build themselves a bunker.

to that person, it makes perfect sense because he has full faith that the apocalypse is imminent, but to others, they probably question if he is overdoing it.
my sister posted a YT video of puppies, 3 months later still can't stop getting bombarded with random puppy videos


i love it

[Cleverness]

My favorite quotes from that speech:

"if we actually had a booming economy, we wouldn't be running big deficits"

"it's not booming economies that produce big deficits - it's bubbles. Sure, if you borrow a bunch of money and have a party, it feels good. The numbers can look good if they are influenced by a bunch of debt."

So far the only potential presidential candidate I've heard talking about the debt/deficit is Howard Schultz... it doesn't even get brought up in the State of the Union address :facepalm

[Kblaze8855]

because the detractors will always say "just keep predicting it and it'll eventually ring true!" and they are just ignoramuses that haven't been paying attention for a decade.

No, fellas, nobody knows exactly when it's going to fall apart. That is true. But what we do know for sure currently is that the entire economy is a facade and that it IS going to fall apart. It's all bullshit.

Then it sounds like you know the people saying "Keep predicting it....it has to be true one day" are right.

Its like any other kind of doom. Eventually the people saying the world is gonna end will be right. But till they are nobody gives a shit.

Eventually....everything goes to shit. So whats the message?

We should make adjustments to put it off a little longer? Im not saying that would be an unreasonable take. Be like a doctor saying you should eat better. Its not gonna save you but its still a good idea. But you have to understand why people dont go into a panic over it.

[Ben Simmons 25]

tell you a lil secret about youtube...

blah blah blah...

You don't think I'm aware of that? And you think it's specific to YouTube? Haha. But as far as YouTube goes, you need only watch 1 NBA video, 1 WWF video, 1 Sopranos video, 1 Breaking Bad video, 1 Marvel video... basically 1 video of damn near anything, and they're going to bombard you in that moment with identically themed videos... in the hopes that you keep clicking, so they keep making money.

On top of that, they will even pop up in your suggestions months later even if you haven't clicked any of that particular theme since.

I'm well aware, and there are a ton of trash ass videos out there on the economic status of things, which is why I don't watch them, and why I don't post them here. A lot of those people just say the sky is falling and they can't exactly explain why. They're trash. Peter Schiff, along with Ron Paul and a handful of other people, called the housing bubble and fallout years in advance when everyone was drunk on getting rich from stupid money and stupid loans. He has gone into great depth over the years as to why we never really corrected our problems that arose as a result of the housing bubble, and why it's just continuing on into the economy today in various forms.


So far the only potential presidential candidate I've heard talking about the debt/deficit is Howard Schultz... it doesn't even get brought up in the State of the Union address :facepalm

You're right. It's pathetic. Because nobody cares. Everyone's belief in the system is deep that it's a self perpetuating prophecy at this point. But... that requires a sustained global belief across all of the various economies and faiths, and that's not going to happen. It's already coming apart.


Then it sounds like you know the people saying "Keep predicting it....it has to be true one day" are right.

They're not, though.

https://i.postimg.cc/nL1hhYXZ/105354371-1532593195680federaldebtheldbythepublic.jpg

Notice anything about our debt levels in relation to GDP compared to the past and what that past lined up with? lol.


Its like any other kind of doom. Eventually the people saying the world is gonna end will be right. But till they are nobody gives a shit.

You're not wrong in that general kinds of doom are all relatively similar and that people can keep repeating that the world is going to end without proof until it does and eventually be right. That's like how I am personally with artificial intelligence... we do know that AI will eliminate jobs at an unprecedented rate, and while I personally see this to result in catastrophy, I do not know what the ultimate outcome of this revolution will be.

However, as far as the economy goes, this is an extremely complicated and complex issue that I still learn about on the weekly that I personally am incapable of fully explaining. The global interconnectedness and how the global economy works is quite the web of intricacy. I truly believe that there are less than a handful of people out there that pay close enough attention and have the breadth of understanding on this subject to be able to tell us what's going to happen.

And while nobody can pinpoint the exact day and hour because of just how complicated this subject is, would you not agree that calling a collapse this big coupled with the dollar losing its status as the global reserve currency... let's say... a prediction with a window of a decade or two... you don't think that's accurate enough? If another 10 years from today, 4-24-19, goes by and our entire economy hasn't completely fallen apart, I would be willing to look back and say sure, even Schiff didn't fully appreciate the complexity of this issue. But I doubt it. The debt and the deficit is out of control at an unprecedented rate.


Eventually....everything goes to shit. So whats the message?

The message is that we should open our eyes and get rid of our current representatives from the president, to the house, to the senate... and put people in place that are going to genuinely fix the issue. Short of that, because it's not going to happen, the message is to inform the individual so that they can educate themselves on the best ways to protect themselves if not profit from the coming events.

Of course getting rid of our politicians and replacing them with people that care about this subject... will never happen, until after it's too late, because the general public doesn't care about this subject, they're not educated on this subject, and too many of them are too dependent on how the system currently functions that it will drastically impact their day to day lives if the system fails. So they're going to live in denial or with their head in the sand and ignore anyone that tells them that what we're doing is unsustainable.


We should make adjustments to put it off a little longer? Im not saying that would be an unreasonable take. Be like a doctor saying you should eat better. Its not gonna save you but its still a good idea. But you have to understand why people dont go into a panic over it.

People don't panic over it because they don't understand it. People didn't panic over housing prices spiking upwards in their favor in the early 2000s, heh. They were blind with lust.

This shit is currently out of control though. Let me guess, you think NBA team prices have just naturally jumped this high in valuation via natural means? Ha. Probably the biggest reason that consumer goods prices on the shelf haven't followed suit is because of the fact that we've constantly been improving automation which keeps costs down. There are always multiple reasons, but I digress.

There does come a tipping point.

The U.S. economy is large enough that if we actually took steps to pay for our past sins, it could still be fixed quite "easily". This isn't a game that always ends in failure, even on our current path, because of how important we currently are to the globe... so long as we actually fix the problem. It would be extremely painful, but it could be fixed. But it won't be fixed. And given that it won't be fixed... educate yourself.

[DCL]

You don't think I'm aware of that? And you think it's specific to YouTube? Haha. But as far as YouTube goes, you need only watch 1 NBA video, 1 WWF video, 1 Sopranos video, 1 Breaking Bad video, 1 Marvel video... basically 1 video of damn near anything, and they're going to bombard you in that moment with identically themed videos... in the hopes that you keep clicking, so they keep making money.


even on this very site, some of the side-ads are stuff that i just googled.

and we all know what information other social media sites stalks...

but anyway, i don't necessarily disagree with many things that peter schiff have been talking about for over a decade. i've known of him for a very long time. but go back to 2008, the time of the financial crisis -- if people had only bought into his scenario and nothing else at all, they would had missed out on one of the greatest bull run of our generation.

schiff is in the metals business. he has a clear agenda with his message. i don't see him as an economist as much as a salesman, and he's extremely good at being the latter. but the guy is not looking out for anybody but himself. the entire mission of his firm, euro pacific capital, is basically to sell the fear of the grand collapse of the dollar. when they bring people in and build their customer base, they collect a nice annual advisory fee regardless of how it performs.

he has been on the wrong side for many years now, but he will eventually be right again. and then after that, probably wrong again for many years again when the new cycle begins.

but for him, it doesn't really matter because he only has to be right once or twice to keep selling the fear to people. that's his game in wealth management.

[Ben Simmons 25]

I’m well aware he’s a gold salesman and by no means is everything that falls out of the guy’s mouth 100% accurate.

But his overarching message for the past 15 years has been correct. It’s not JUST fear based sales. He’s right.

Peter Schiff isn’t a hero. Far from it. But he is telling the truth overall.

[Norcaliblunt]

No debt means no money. Every dollar out there is owed somewhere.

[Rooster]

even on this very site, some of the side-ads are stuff that i just googled.

and we all know what information other social media sites stalks...

but anyway, i don't necessarily disagree with many things that peter schiff have been talking about for over a decade. i've known of him for a very long time. but go back to 2008, the time of the financial crisis -- if people had only bought into his scenario and nothing else at all, they would had missed out on one of the greatest bull run of our generation.

schiff is in the metals business. he has a clear agenda with his message. i don't see him as an economist as much as a salesman, and he's extremely good at being the latter. but the guy is not looking out for anybody but himself. the entire mission of his firm, euro pacific capital, is basically to sell the fear of the grand collapse of the dollar. when they bring people in and build their customer base, they collect a nice annual advisory fee regardless of how it performs.

he has been on the wrong side for many years now, but he will eventually be right again. and then after that, probably wrong again for many years again when the new cycle begins.

but for him, it doesn't really matter because he only has to be right once or twice to keep selling the fear to people. that's his game in wealth management.

He’s more like a gold salesman. They have their run back then when Sanders managed to open the Pandora box about the 16 trillion soft loan we pump for the biggest banks around the world. The gold value skyrocketed . Our money people can create something out of thin air and also make it disappear out of thin air. Since it’s digital nowadays, they can just collect the interest . It did fix the problem. The Federal Reserve have done a great job in managing the inflation. We have not went over 5% of our GDP as far as our budget deficit is concern. This is our real economy.

The economy has been global and everyone uses dollar and people around the world have even their dollar savings account. The biggest advantage we have is the international reserve are also in dollars, no longer in gold. And of course, the oil price is also in dollars. This the reason we have to control the Middle East and keep it that way.

So the dollar is the last thing to collapse. But hey we also have a stockpile gold when if it will for good measure . Someone has to conquer us to change this system and better have the military to get our gold back.

[Ben Simmons 25]

January 1 2008

https://www.youtube.com/watch?v=A2_Hmt-MKLA

:roll: :roll: :roll:

[Ben Simmons 25]

August 18 2007

https://www.youtube.com/watch?v=CZyvnWFbR84

:roll: :roll:

[Ben Simmons 25]

March 12 2006

https://www.youtube.com/watch?v=MIFGfgKHrwU

[Nanners]

Peter Schitt is 100% a useless ****ing clown. This useless jabroni has been yammering non-stop about russiagate for the past 2 years, and still has yet to provide a single ****ing shred of evidence that Trump "colluded" (whatever that means) with Russia or anyone else.

Absolute joke politician

[Ben Simmons 25]

Peter Schitt is 100% a useless ****ing clown. This useless jabroni has been yammering non-stop about russiagate for the past 2 years, and still has yet to provide a single ****ing shred of evidence that Trump "colluded" (whatever that means) with Russia or anyone else.

Absolute joke politician

Uh... I think you have Peter Schiff mixed up with Adam Schiff, just FYI.

[Nanners]

Uh... I think you have Peter Schiff mixed up with Adam Schiff, just FYI.

indeed... i most definitely did have them mixed up. thanks for correcting me