[2ndDivisionVet]

When Pat gets it right, he hits a home run.

[Gator113]

It frightens me when I find myself agreeing with Pat. ;>)

[traviskicks]

ping

[Canedawg]

What would the Founding Fathers think of us now?

They'd be ashamed of us for not electing a natural born citizen as POTUS.

[trumandogz]

Pat is a little behind the curve on this matter. So, yes we are all socialists, from the President of the United States and the Sec. of the Treasury to every CEO in corporate American and of course the bankers.

Our government wrote a Trillion Dollar Check using our dollars to make us the biggest Socialist State in the history of the world.

And worst of all it was done by a GOP President and far too many Republican members of Congress.

[sickoflibs]

Except he wants to ban Japanese cars and give UAW endless welfare. Try :

Video of Schiff when he predicted this disaster. Watch the other guy offer him a bet that the economy is in great shape.

http://www.youtube.com/watch?v=2I0QN-FYkpw

No one knows what the future holds, or do they? It looks like celebrated investor Peter Schiff might have a crystal ball.

The Prediction
Almost two years ago he predicted that the financial markets were heading for crisis. At the time he told CNBC, “We’re on the verge of a major, major recession that’s probably going to start by the end of this year, maybe early next year. The housing market is just beginning to unravel. We’re seeing the tip of the iceberg here.”

In fact he went on to compare the economy to the Titanic then added, “I am here with the lifeboat trying to get people to leave the ship.”

According to Schiff, investors believed asset prices, real estate prices, and stock prices would go up indefinitely. But, as you know, it was a bubble. Now, markets are correcting for these imbalances.

http://www.cnbc.com/id/27823932

[Piranha]

As a sign of how topsy-turvey the world has become, here I am agreeing with Pat Buchanan! He is spot on, and I grieve for the loss of our great country to internationalism and corporate socialism.

[fortunate sun]

Well, Pat is wrong on the “Americans don’t save count” —
1. They are forced to save via the payroll deduction into Social Security.
2. Americans probably have the highest level of home ownership on the planet. A mortgage payment could be considered savings as a majority of mortgage payers have an honest intent on payment.
The failure of both is lack of access to funds or ease of access to funds in the case of a house.

[Theodore R.]

which is 99 percent of the time

[wastedyears]

What would the Founding Fathers think? They would consider (I hope our “elected leaders, and our modern-day Liberals) us unfit to live in a free republic.

[tbpiper]

When Pat gets it right, he hits a home run.

It's a 'blind squirrel and nut' thing.

[paul51]

This article is dead on.Why can't the congress, the fed and the people controlling the treasury understand this?

[Viking2002]

Yeah, he's the conservative stopped clock that's right twice a day, but when he gets it, he gets it. I take personal exception to this, though:

'Americans save nothing. We spend more than we earn. Thus the levels of consumer debt, credit card debt, auto debt and mortgage debt. U.S. foreign-exchange reserves amount to a piddling $73 billion.

While he is right in a larger context, my wife and I broke out of that cycle as a matter of long-term planning and simple common sense. We know our income; we know our debts; we know what we wish to accomplish, and the future time-frame that we have to work with, or have set for ourselves as a personal goal. We're not millionaires, but we don't worry about the bank account being in the red two days before payday, or with getting hit with an unexpected bill. By living within our means (yet not denying ourselves the creature comforts we have richly earned through knuckle-busting labor), we can not only keep the wolf from the door and two counties away, but we can also feel confident that we'll realize our future goals.

[kenn5]

Yes, we are a nation of debt and spenders with no savings. The day of reckoning is coming. In the meantime, I am going out on Black Friday and charge Christmas!

[Cacique]

He may be right, but he’s still a nazi sympathizer.

[bamahead]

Libertarian ping! Click here to get added or here to be removed or post a message here!

[Theophilus]

To the elite, economic history is just a giant pyramid scheme that must be perpetuated lest we should all wake up and be incapable of deceiving ourselves into prosperity out of thin air anymore.

[Clintonfatigued]

I’m no big fan of Pat Buchanan, but he’s right this time. There just seem to be no good choices.

[HowlinglyMind-BendingAbsurdity]

"We may soon be north of 40 percent of gross domestic product controlled and spent by government. That is Eurosocialism. "

[Eighth Square]

Many Freepers have consistently belittled Pat, I have always had a soft spot for the man and yeah when he is right he is dead right. As the constant realist, I believe we are headed for a monumental change and none of us will like it. As to guarantees to our Chinese friends, how about the passing on of our secret technology, you know, the ‘no way, never happen’ kind.

[upchuck]

What would the Founding Fathers think of us now?

They would be highly disappointed. And mightily pissed off that we have violated and frittered away all that they worked so hard to put into place.

Buying a house with 20% down and a payment no more than 25% of your take home pay is the way to do it.

Being frugal with your money and not living beyond your means is the way to do it.

Not going into debt for anything except housing and, maybe, a car is the way to do it.

Those that think/act/do otherwise are doomed to failure.