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11-16-2008, 08:51 AM #2Senior Member
Peter Schiff talks about the effects of Obama on economy
Number 1: Low interest is good for the economy. This guy doesn't know what the fuck he's talking about on interest.
Number 2: Trickle-down economics (I like Bush Sr.'s term...'Voodoo Economics') don't work. The rest of the world accepts this now that the shit hit the fan.
Number 3: Government programs, what he called "entitlement spending" may or may not be bad for the economy, but they are good for the people. The people come first.
Number 4: His way of thinking won't scale back government. It will abolish government. Have fun with that.
Number 5: He bitches and bitches and bitches, but do I hear any better ideas than at least trying Democrats instead of Republicans? No. All he did was say that it's a problem that's been building for years.
Number 6: Whether or not we're still paying off the New Deal, that's fucking worthless compared to the money we're hemorrhaging right now.
Number 7: Ron Paul wasn't chosen by the bankers to be in the running for president. And, even if he had won, he would have been powerless after those big banking types have a chat with him about the economy.
Number 8: We should start paying off our debts? No. That's not how this system operates. Money is created out of debt in a fractional reserve system (that's the system we live under, if you didn't know). Also, the amount we owe on our money to the world and to the Fed is GREATER than the money supply. What does that mean, then? Paying off debts leads to contraction, and that leads to chaos in our society.
My point being that this guy said Obama will usher in the Great Depression without giving any reasons that could have easily been applied to McCain as well. There was some sort of bias there, even if he wouldn't admit it.
I'd like to give that guy a call and ask him if he has the balls to say that we're going to hit a depression because, GUESS WHAT? Obama got elected. I'll bet you one of my famous pan-fried steaks that he'll downplay what he said on this program.
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