[rabscuttle385]

*Ping!*

[wastedyears]

I have a good argument I’d like to put forward to people.

Obviously not those informed on here.

“Why if the government caused all the mess in the first place, should they be the ones to try to clean it up?”

[An Old Man]

Governments cannot create but merely redirect. When the government spends, the money has to come from somewhere. If the government doesn't have a surplus, then it must come from taxes. If taxes don't go up, then it must come from increased borrowing. If lenders won't lend, then it must come from the printing press, which is where all these bailouts are headed. But each additional dollar printed diminishes the value those already in circulation. Something cannot be effortlessly created from nothing.

That statment says it all! Remember it, and tell your dem friends every chance you get.

[Cyber Ninja]

snot true........................

[djf]

If you can pick up a wrench or a screwdriver and fix stuff, there will always be stuff to do.

We will certainly be going into a “repair instead of replace” kind of lifestyle.

Which is absolutely fine with me, as one of my greatest pleasures in life has always been taking things apart, seeing how they work, and putting them back together. Better, if possible.

If you make your living moving paper from pile A to pile B, you might want to do some serious job planning now.

The medical industry, the home care industry, will do well.

[sickoflibs]

The financial prophet Peter Schiff tried to warn us, see his speech Nov 2006 Peter Schiff Mortgage Bankers Speech Part 2 of 8. Schiff quote : 'Saving is under-consumption in the present for consumption in the future'. Saving is the solution, a recession. In America we consumed in the present for the expense of the future.' Another Schiff quote :"The boom is the problem, the bust is the solution". His economic theory is that you need a recession to get healthy, the sooner the better and says in 2002 we needed one, but this is political death for the elected. Politicians running for re-election need to pump more and more money, borrowed and printed (ie low interest rates), into the economy to look like they are fending off a recession but it only delays the eventual crash and makes it much worse.

[sickoflibs]

Some Peter Schiff 2006 prediction videos at

The Financial Prophet Calls it (Peter Schiff) at

http://sickoflibs.blogspot.com/2008/12/financial-prophet-calls-it-schiff.html

[AmericanGirlRising]

I’ve been following Schiff’s market economic analysis. I’m not an expert, but know he’s been spot-on in the past. Interested in any FReeper opinion on Schiff’s outlook:

http://www.youtube.com/watch?v=HUv8rjBAdbk&feature=related
Schiff on Madoff scandal and market effect.

http://www.youtube.com/watch?v=QSqrbF8ql_0&feature=related
Schiff radio call-in. Listen, but beware of the embedded shock imagery.

http://www.youtube.com/watch?v=ATgDXsxgRxQ&feature=related
Schiff radio call-in. Talks government bonds and long-term US currency depression. This is one of my favorite because Schiff is a strict capitalist and he takes the free-market principles and applies them to the larger global market.

http://www.youtube.com/watch?v=gapZx0bJiRU&feature=related
More Schiff radio call-in. He’s dumping dollars.

http://www.youtube.com/watch?v=NsYDkBprJZY&feature=related
Schiff on Glenn Beck Headline News talking Weimar Republic.

[Squantos]

Painful only for the unprepared.....we saw this post turtle coming. Home, vehicles and bills all paid in full, zero debt shy of some utilities and cash in the ball mason jar under the porch per se ! We garden, we hunt, we fish and cherish the harvest as the resource it is. As others have stated here......we will fix the old and save the gold ! As well we made every effort to shelter our fiscal resources from the tax man and wall street long ago.

.... Confidence is low....extremely low in goobermint right now. A congress and executive branch that is and will be heavy in socialist idealist’s is toxic for preserving the republic. Trying to keep their seditious agendas in check is gonna be right up there with herding cats. The next two years will require every real conservatives efforts on a daily basis to get the word out that the MSM squashed during the election about these domestic enemies writing laws and incrementally destroying this nation. We “must” retake congress in 2010.

If they censor the conservative message again we go old school with handouts, snail and e-mail, ad’s in small local advertisement papers, club bulletins, parties and other social events. But above all else the content must have FACTS vs opinion or rumor. Anything less is to become what we fight.

Just my opinion........and what I am doing NOW !

[El Gato]

There's No Pain-Free Cure for Recession

But most politicians and media idiots think that bleeding the patient is sure to work....this time.

[GOPJ]

Similarly, any jobs or other economic activity created by public-sector expansion merely comes at the expense of jobs lost in the private sector. And if the government chooses to save inefficient jobs in select private industries, more efficient jobs will be lost in others. As more factors of production come under government control, the more inefficient our entire economy becomes. Inefficiency lowers productivity, stifles competitiveness and lowers living standards.

Thanks for posting this - Schiff gets it.

[USFRIENDINVICTORIA]

“By borrowing more than it can ever pay back, the government will guarantee higher inflation for years to come, thereby diminishing the value of all that Americans have saved and acquired.”

The importance of this truth cannot be overestimated.

[Freedom_Is_Not_Free]

Common sense article. Schiff often nails it. I think he puts too much stock in the hyperinflation scenario, otherwise he seems to be accurate and he is way out in front of most. Thanks for the post.

[blam]

BFL.

[blam]

" For now the inflationary tide is being held back by the countervailing pressures of bursting asset bubbles in real estate and stocks, forced liquidations in commodities, and troubled retailers slashing prices to unload excess inventory. But when the dust settles, trillions of new dollars will remain, chasing a diminished supply of goods. We will be left with 1970s-style stagflation, only with a much sharper contraction and significantly higher inflation."

[Stepan12]

As Peter Schiff said another way, “eat your vegetables, kiddies.”