Inauguration Day 2013: While Peter was out of the country, his producer, Tom Elliott, hit up the inauguration to speak with Obama’s most die-hard fans about the big-ticket item the president outlined for his second term: climate change. While everyone likes the idea of “fixing” the climate, how many would support actually paying the legislative cost? Keep in mind, these inaugural attendees traveled from all over the country; if Obama can count on anyone, surely he can count on their support — right?
Peter Schiff Show: Ted Nugent, multi-platinum recording artist & star of the Outdoor Channel’s “Spirit of the Wild,” on what Joe Biden’s anti-gun commission should do to help curtail random mass killings.
President Obama promotes the myth that everyone must go to college. That if you don’t go, your life will be ruined — that you will end up waiting tables, or trapped in some other mundane occupation. The truth is, even with a college degree, you may still end up waiting tables, you’ll just begin your “career” four or five years later, tens of thousands of dollars in debt.
“They deliberately want to reflate the housing bubble, which I though, number 1, is interesting, because it’s kind of an admission that they’re to blame for the last one, because they basically said we want to use artificially low interest rates to stimulate housing, to make housing prices go up, to make people feel richer so they’ll spend money they don’t have. That’s what happened last time!” Peter Schiff
“They couldn’t see this train wreck coming, even though it was staring them in the face,” said Peter Schiff in the trailer. “They’re the ones who are fixing the economy when they don’t understand why it broke. In fact, they broke it, and they’re trying to fix it by doing more of what broke it in the first place.”
Why trust the federal government to fix the economy when its own bad policies were to blame in the first place?
That’s what dozens of economist who correctly predicted the financial crisis want to know, according to “The Bubble,” a forthcoming documentary film by historian Tom Woods.
For Woods, the purpose of the film is to educate the public about what caused the 2008 financial crisis, by interviewing several financial experts who saw it coming.
“I want them to walk away saying, ‘wow there is a lot more to this than I thought,’” said Woods, a senior fellow of the Ludwig Von Mises Institute, in an interview with The Daily Caller News Foundation. “It’s not just a comic book story of wicked malefactors of great wealth who manipulated the economy to their own gain and then drove off into the sunset cackling at all of us.”
Woods worries that unrestricted capitalism is being blamed for problems created by government policies, from the regulators who rubber-stamped the housing bubble to the Federal Reserve chairmen who oversaw a reckless expansion of the currency.
“Alternatively, we can bail everybody out, pretend that we can print our way out of the crisis, and instead we have runaway inflation or hyper-inflation, which is gonna be far worse than the collapse we would have if we did the right thing and just let it all implode.” Peter Schiff
According to CEO and Chief Global Strategist of Euro Pacific Capital Peter Schiff, the U.S. economy is heading for an economic crash that will make 2008 look like a walk in the park. Stimulus programs can delay this day of reckoning, but only for so long and only at the expense of making the eventual meltdown much, much worse.
Schiff, who famously warned investors about the housing and financial crisis in his 2007 book Crash Proof, says the Fed’s palliative efforts during the housing meltdown have made the next crisis inevitable.
“We’ve got a much bigger collapse coming, and not just of the markets but of the economy,” Schiff says in the attached clip. “It’s like what you’re seeing in Europe right now, only worse.”
In this nightmare scenario detailed in The Real Crash: America’s Coming Bankruptcy, the current economic pause is actually the beginning of a material slowdown or recession into year end. At that point, the Federal Reserve will unleash a third round of Quantitative Easing — weakening the dollar without jump-starting the economy. As a result of dollar weakness, import prices rise, pressing the margins of corporate America. Lower margins lead to heavy layoffs, sending millions of workers into unemployment during a time when they can least afford it. Banks fail, housing collapses, and taxes are raised in a futile effort to give the tapped-out government the capital to try yet more futile stimulus.
“Sure, a home builder can sell a home at an inflated price, because of the SHA, but there’s people on the other side of these transactions who are losing money. There are plenty of people who are not at this table who suffer because congress decides to subsidize the industries who are represented here.” Peter Schiff
Glenn continued, “listen to me. It is worse than universal health care. And in the coming days as we get closer, we will explain why it’s worse than universal health care. It is the death nail of the country. There’s no recovery from this one. None. No recovery."
Adam Carolla knows liberal media bias exists because he’s seen it up close and personal. So when he watches the mainstream press ignore President Barack Obama’s hypocrisy he simply chalks it up to more of the same.
Find out how the negativity and self-loathing of modern Hollywood is just a small gear in the machine that brings down entire nations. What can we do about it? Well, we can walk right into the heart of Mordor and destroy the Ring of Power.