Was Peter Schiff the only one who was right?

[Joanne98]

Run time: 07:05 https://www.youtube.com/watch?v=Y0JzhMmAGgI   Posted on YouTube: August 22, 2010 By YouTube Member: solitaryfracture Views on YouTube: 51   Posted on DU: August 22, 2010 By DU Member: Joanne98 Views on DU: 598

 
solitaryfracture | August 22, 2010

Was Peter Schiff the only one who was right about the economic collapse?

[Turbineguy]

1. Peter Schiff voted for Bush

And profited from it.

On DU we knew that Bush would be a disaster, but we didn't know how to profit from it.

[Vincevega]

2. Really?

Do u have any proof that he voted for Bush? Because if theres anything I learnt from Paulites(my brother is one :-( ) is that they despise the whole Bush/neocon crowd. Come to think about it he may have voted for Bush's 1st term but i seriously doubt he voted for his 2nd term after he took the country to 2 wars, Patriot act, FISA, Medicare part D, and Stimulus bill.

Anyway, please post a link where he said he voted for Bush (1st or 2nd term)

[Vincevega]

4. Donate for?

And can u please tell me what exactly we r donating for? I have been seeing journals about donation and markers by peoples username lately but they never say what we are donating for. Anyway am curious what is all about and would be appreciate it if someone tells me what it is all about. Thanks

[The Northerner]

5. Uh, I don't think he voted for Bush but I'm still looking for that

When listening through some of his vlogs it seems that he doesn't even care about voting because he doesn't like either party.

Still, I've been trying to find evidence to convince my friends about who Schiff really is.

[JDPriestly]

3. I'm with solitary fracture about the fact that lots of people knew.

I remember exactly where I was sitting when I realized it. In 1997, I had just returned from sitting in on a court hearing for the firm that I was working in at the time. Before the court hearing, I had watched the lawyers talking about their investments and how much they were making on the market. When lawyers are paying more attention to their stock market gains than to their clients and their cases in the moments right before a hearing, you know there is a mania -- a stock market bubble.

There was a recession in the early 2000s, so, instead of dealing with it correctly, the Bush administration and Greenspan loosened credit rules and decided that just about everyone, no matter how indebted they already were, should be given a home loan.

Remember how Bush talked about the "ownership society," how he bragged about the high rate of home ownership in the mid-years of the first half of the 2000s? That was the housing bubble. My neighbor across the street and I both bought our houses in this lower-middle-class neighborhood in 1988 for reasonable prices by LA standards, and we asked each other how in the world people were able to pay $700,000 for houses down the street from ours in an economy in which wages had not risen.

In 2004, it was obvious that the Bush tax cuts were really designed to make the rich richer and the poor poorer.

We read this article by Mike Whitney on the internet and printed it out on April 8, 2005:

Coming Sooner Than You Think -- The Economic Tsunami by Mike Whitney New York Times 4-2-05

It seems that there are a growing number of people who believe as I do, that the economic tsunami planned by the Bush administration is probably only months away. In just 5 short years the national debt has increased by nearly 3 trillion dollars while the dollar has continued its predictable decline. The dollar has fallen a whopping 38% since Bush took office, due largely to the massive $450 billion per year tax cuts. At the same time, numerous laws have been passed (Patriot Act, Intelligence Reform Bill, Homeland Security Bill, National ID, Passport requirements etc) anticipating the need for greater repression when the economy takes its inevitable nosedive. Regrettably, that nosedive looks to be coming sooner rather than later.

. . . .

But, of course, things are not okay. The country has been intentionally plundered and will eventually wind up in the hands of its creditors as Bush and his lieutenants planned from the very beginning. Those who don't believe this should note the methodical way that the deficits have been produced at (around) $450 billion per year; a systematic and orderly siphoning off of the nation's future. The value of the dollar and the increasing national debt follow exactly the same (deliberate) downward trajectory.

This same Ponzi scheme has been carried out repeatedly by the IMF and World Bank throughout the world; Argentina being the last dramatic illustration. (Argentina's economic collapse occurred when its trade deficit was running at 4%; right now ours is at an unprecedented 6%.) Bankruptcy is a fairly straight forward way of delivering valuable public assets and resources to collaborative industries, and of annihilating national sovereignty. After a nation is successfully driven to destitution, public policy decisions are made by creditors and not by representatives of the people. (Enter, Paul Wolfowitz)

more cached

http://www.axisoflogic.com/artman/publish/article_16735.shtml

Naomi Klein described it all in her book, Shock Doctrine.

Thanks for posting this. Peter Schiff was late to realize what was going on. He is not a particularly insightful man. He just puts on a big show and enables those people who are trying to reconcile their free-market fanaticism with the failed-market reality to further avoid seeing the truth. The free-marketeers need a prophet, and Schiff is willing to be a false prophet for fame and fortune.

Don't be discouraged, solitary fracture. I'm looking forward to seeing your film.