Peter Schiff’s Ignoarance Explained In 60 seconds (Part 1)

THE NATIONAL DEBT 1 of 5 – Peter Schiff Wrong! http://www.youtube.com/watch?v=RlgW0mChpDQ.

5 comments on “Peter Schiff’s Ignoarance Explained In 60 seconds (Part 1)
  1. This is only one side of the coin. Yes the government can smooth market
    fluctuations by increasing their spending during a downturn, thereby
    countering the reduction in spending in the economy. However the other
    part of this is the government pulling in the belt and saving during times
    of economic prosperity. Putting a bit aside for a rainy day really is a
    simple principle that few governments have the discipline to enact as it
    conflicts with keeping voters happy and subsequently remaining in power.

  2. How easy to say its no trouble if machines destroy jobs because then wages
    go down and businesses hire people when you’re not one of the low wage
    workers of the world. Particularly when the capitalist class as a whole
    seeks to destroy jobs through automation thereby reducing a workforce they
    must pay wages to, this isn’t a localized phenomenom but an intrinsic part
    of capitalism. The capitalist will forever seek to accumulate wealth and he
    dies this by reducing costs to himself. And what are wages if not the price
    of a worker, the price of a human body

  3. You mention Peter schiff in all of the titles of your videos, yet Peter
    schiff isn’t present or even mentioned in them! You’re like the guy
    standing on the corner talking to himself. In another one of your “Peter
    schiff videos,” You mentioned that government creates currency. This is
    false, THE FED does. They then SELL IT to the government at interest, which
    we all pay back through future labor. If you don’t understand this very
    simple fact, you have no business arguing about economics with anyone. 

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