Posted on 06/28/2010 8:12:31 PM PDT by blam
Who's Right--The "Stimulators" Or The "Austerians"?
Peter Schiff
Jun. 28, 2010, 9:03 PM
Despite the apparent deficit-cutting solidarity that emerged from this weekend's G-20 meeting in Toronto, it is clear that the great powers of the industrialized world have not been this philosophically estranged since the end of the Cold War. Ironically, in this new contest, the former belligerents have switched sides - the capitalists are now the socialists, and vice versa.
We now are witnessing a struggle between two camps that I playfully call the "Stimulators" and the "Austereians." Both warn that a worldwide depression will ensue if governments now make the wrong choices: the Stimulators say the danger lies in spending too little and the Austereians from spending too much. Each side also has their own economic champion: the Stimulators follow the banner of Nobel Prize-winning economist Paul Krugman, while the Austereians are forming up behind the recently reformed former Fed Chairman Alan Greenspan. (It is cold comfort to witness "The Maestro" belatedly returning to the hard-money positions that characterized his earlier years.)
[snip]
(Excerpt) Read more at businessinsider.com ...
What’s so hard about this? They are BOTH right.
If the “Austerity” crowd gets its way, we’ll soon have a world wide depression.
If the “Stimulus” crowd gets its way, we’ll have one a little bit later. But a whole lot worse.
The fact of a world wide depression is now inevitable, though.
We, as Americans, should be 100% on the side OPPOSITE of the obamanation.... he is our curse and until he is gone, we have to question every decision he makes because he is NOT for America!
Wow, for once you post an *easy* question, blam.
The “Austerians” are right.
Remember... the question isn’t “who is more effective in the short term”, but rather “who is RIGHT”. And I’m taking “right” in the sense of “righteous”.
You know... moral hazard and all that.
“They are BOTH right.”
And we are SO screwed.
The Nobel Panel does not give prizes to capitalists.
I go with Greenspan who seems to have convinced the EUrotopians that their socialist experiment has failed.
yitbos
The economys that accept austerity first will be the first to get out of their self-created troubles.
ECON 101
When you invest in the firm that is the economic competitor to your own family, and your family does poorly, and their competitor does well, and you KEEP investing in your family’s competitor, YOU ARE PUTTING YOUR FAMILY OUT OF WORK!
Schiff doesn’t invest a SINGLE PENNY in AMERICA!!!
pro-immigration and said that there are too many jobs in the US we NEED to let in immigrants???
Peter Schiff admits on camera that he has ZERO money investigated in American corporations or industry. If Peter Schiff refuses to invest in American companies, how can Peter Schiff say he is helping Americans keep their jobs?
This is SCHIFF in his own words!
PETER SCHIFF IS ACTIVELY INVESTING IN FOREIGN COMPETITOR NATIONS THAT ARE PUTTING AMERICANS OUT OF WORK!!!
http://blogs.courant.com/rick_green/2009/10/peter-schiff-arrives-give-me-m.html
Why do the Ron Paul guys support gay marriage?
http://www.queerty.com/ron-paul-on-gay-marriage-20071210/
http://www.schiffforsenate.com/index.php?q=news/constitutional-candidates-congress
Schiff’s own website endorses Adam Kokesh
http://www.youtube.com/watch?v=nDttx64zk4I
SCHIFF himself admits he believes the Iraq War is a QUAGMIRE in 2009!!
http://www.freespeechmonster.com/?p=103
Schiff has said this many times
http://peterschiffsays.com/defense.htm
Aug 7, 2009, Iraq is a quagmire
http://www.youtube.com/watch?v=P9t741ewbGA
Schiff blamed Iraq on bankers? Not on Saddam?
http://www.youtube.com/watch?v=zo81QDSuixk
What the Tea Parties are not telling you about Peter Schiff:
Libertarians need to infiltrate the GOP
http://belowthebeltway.com/2009/06/02/peter-schiff-libertarians-need-to-infliltrate-the-gop/
http://www.facebook.com/note.php?note_id=110955225375
http://www.campaignforliberty.com/blog.php?view=19285
http://www.godlikeproductions.com/forum1/message808505/pg1
http://answers.yahoo.com/question/index?qid=20090707200009AAzSQfB
Peter Schiff admits on camera that he has ZERO money investigated in American corporations or industry. If Peter Schiff refuses to invest in American companies, how can Peter Schiff say he is helping Americans keep their jobs?
Peter Schiff repeating talking points of the lunatic left, listen yourself. He says in 2009 that Iraq is a QUAGMIRE when we already won!! He blames the war on bankers and whoever, and not a word about blaming it on terrorists! listen yourself, Schiff repeats left wing talking points to his radio audience about the Iraq war!
http://www.youtube.com/watch?v=zo81QDSuixk
Peter Schiff has made open statements that are quite like the statements of the anti-war leftists, to include the OTHER Ron Paul endorsed candidates Rand Paul and Adam Kokesh
http://www.google.com/search?hl=en&source=hp&q=schiff+%2B+isolationist&aq=f&aqi=g10&aql=&oq=&gs_rfai=
Peter Schiff is pro-choice on abortion
SCHIFF’S OWN WEBSITE CONTAINS AN ENDORSEMENT FOR KOKESH WHERE KOKESH IS NAMED AS AN ANTI-WAR PROTESTER
http://schiffforsenate.com/index.php?q=news/constitutional-candidates-congress
Adam Kokesh
Adam Kokesh is best known as an Iraq War veteran who returned opposed to the war and was a keynote speaker at Ron Paul’s “Rally for the Republic” that competed with the Republican National Convention in the summer of 2008.
Peter Schiff is pro-choice on abortion
http://www.youtube.com/watch?v=nDttx64zk4I
with respect to his personal feelings, he would not make it illegal, women have a right to abort, he is against 3rd trimester,
BUT FIRST TRIMESTR OR SECOND ONE ITS OKAY
Hear it in his own words
pro-immigration and said that there are too many jobs in the US we NEED to let in immigrants???
Peter Schiff admits on camera that he has ZERO money investigated in American corporations or industry. If Peter Schiff refuses to invest in American companies, how can Peter Schiff say he is helping Americans keep their jobs?
This is SCHIFF in his own words!
video of Peter Schiff saying that LIBERTARIANS must infiltrate the Republican Party
http://www.youtube.com/watch?v=3ncLTFoTFa8&playnext_from=TL&videos=gKm7t4j9Wgc
http://www.ustream.tv/recorded/1583738
This second link is the full 2 hours. You cant download it directly, I tried, but hey, you can record it! :)
Peter Schiff appears at a Rand Paul/Adam Kokesh/Peter Schiff fundraiser
http://www.youtube.com/watch?v=AYwb_P-ssK0
Rand Paul, Adam Kokesh, Peter Schiff, and others holding a fundraiser at Webster Hall in New York.
http://www.randpaul2010.com
http://www.schiffforsenate.com
http://www.kokeshforcongress.com
Read it for yourself, folks, all three of these candidates are the type of people that this organization supports and even wants to send money to!
http://www.google.com/search?q=schiff+kokesh+site:http://www.stormfront.org&hl=en&lr=&filter=0
The RAND Paul Money Bomb! Help Elect Rand Paul to U.S.
http://www.stormfront.org/forum/showthread.php?t=624677
Stormfront!!!!
Lets see.... we spent money out the wazoo and we are in the same boat but with more debt.
Hmmmm....
No, it’s a musical group.... Question Mark and the Austerians. ;-) (are you old enough to get that one?)
I am so old I remember but it is a mystery an , I don't why, it is enough to make me cry 96 tears .
http://www.youtube.com/watch?v=Qc69zr_5uH4&feature=related
Fiddlestix.
Governments especially can’t spend their way to our prosperity. Their spending is the equivalent of a bonfire of the currencies.
Tax increases don’t work. Arthur Laffer and experience have repeatedly shown that tax increases (at current levels of taxation) reduce treasury revenues.
Regulation doesn’t work. See IPO count after SarBox.
Protectionism doesn’t work. See Smoot Hawley.
The only things that work are government spending cuts, tax cuts, regulation cuts, and more free trade.
Europe seems to have figured out the first one. Let’s see who else can get on the Growth Train.
I agree with everything you said except “fiddlesticks.”
The problem is that we’ve already had too much government spending, tax increases, regulation, and protectionism (at the behest of the union bosses). And there are no government spending cuts (except on the military), tax cuts, regulation cuts, and free trade on the horizon.
Hence my point that a depression is inevitable. More of the same “stimulus” et al garbage might delay it a little, but will just make it worse. FAR worse.
It’s already here.
The two schools of thought in economics are Keynesian (stimulus - socialist) and Austrian (laissez-faire - Von Mises/Hayek).
With the amount of government spending and debt we have now, a crisis is unavoidable no matter what.
Going forward, the Austrian model works better, as it is based on reality and not on leftist ideology.
I imagine we will find out soon enough.
I believe that you mean “Austereian”, not “Austrian”.
Still, I agree. Keynesian economics (which should bear the name “voodoo economics”) in a debt-ridden society is, in reality, merely kicking the can down the road. The lender will eventually collect from the debtor, and going deeper in debt is only going to make the pain worse.
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