Peter Schiff vs. Greg Mankiw (Bush's economic advisor)

This illustrates how clueless Bush's economic advisors were and no doubt alot of Republican economic advisors are the same when standing next to a true freemarketer

Yeah, Mankiw seems to be a disciple of the Zimbabwe school of economics, as opposed to the Austrian school, to which Schiff belongs.

I’m not an economist, but I knew that America couldn’t live on Asian credit forever. I was hoping for a soft landing for the economy. The longer you try to postpone the inevitable, generally, the worse the consequences.

Obama seems to be hellbent on introducing the worst possible witch’s brew of fiscal, monetary and environmental policy all at once, essentially a perfect storm (to mix a metaphor). And he wants to toss in Socialized Medicine, to boot. If we get out of his adminstration without a severe depression, it will be a miracle. And he seems to be completely clueless.

If we’re lucky, we’ll recover in a generation or two (I’ll be dead by then anyway.) If not, we’ll do like the Soviet Union and spiral down for seventy years. The Russians are still at least a generation way from getting over the hang over from the Soviet economic miracle.

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