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Peter Schiff: We're Heading For A Crisis Worse Than 2007

 
Anonymous Coward
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03/13/2014 09:53 AM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
What Peter is saying is commmon sense that anyone that is awake knows this is going on.
Anonymous Coward
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03/13/2014 09:55 AM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
Washington is engaged in a massive "campaign" to make Americans believe the economy is in recovery. But in reality the United States is at the brink of a devastating economic crash that will cause catastrophic market losses and impoverish millions.

President Obama and like-minded politicians claim this stimulus has pushed the economy forward, boosting GDP and keeping inflation low.

But Schiff says "it's another lie."

In fact, according to Schiff, the government has done nothing more than create a "phony" economy that is "completely dependent on the ability to borrow more money that we can't pay back."

"The Fed knows that the U.S. economy is not recovering," Schiff said. "It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode."
[link to signup.moneymorning.com]
 Quoting: Wash


Employees usually have to sign an oath to be loyal to their employer, so couldnot we sue each and every one of our servants' via their paychecks for lying, sabotage, and breaking the oath of loyalty etc?
Anonymous Coward
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03/13/2014 10:06 AM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
Washington is engaged in a massive "campaign" to make Americans believe the economy is in recovery. But in reality the United States is at the brink of a devastating economic crash that will cause catastrophic market losses and impoverish millions.

President Obama and like-minded politicians claim this stimulus has pushed the economy forward, boosting GDP and keeping inflation low.

But Schiff says "it's another lie."

In fact, according to Schiff, the government has done nothing more than create a "phony" economy that is "completely dependent on the ability to borrow more money that we can't pay back."

"The Fed knows that the U.S. economy is not recovering," Schiff said. "It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode."
[link to signup.moneymorning.com]
 Quoting: Wash


We are in an aircraft that is falling apart as we are flying. The pilot comes of the com and says that it's a beautiful sunny day and the weather is gorgeous. We should be landing on time. As he is talking one of the engines falls of and he doesn't even mention it.
Anonymous Coward
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03/13/2014 10:08 AM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
Washington is engaged in a massive "campaign" to make Americans believe the economy is in recovery. But in reality the United States is at the brink of a devastating economic crash that will cause catastrophic market losses and impoverish millions.

President Obama and like-minded politicians claim this stimulus has pushed the economy forward, boosting GDP and keeping inflation low.

But Schiff says "it's another lie."

In fact, according to Schiff, the government has done nothing more than create a "phony" economy that is "completely dependent on the ability to borrow more money that we can't pay back."

"The Fed knows that the U.S. economy is not recovering," Schiff said. "It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode."
[link to signup.moneymorning.com]
 Quoting: Wash


Employees usually have to sign an oath to be loyal to their employer, so couldnot we sue each and every one of our servants' via their paychecks for lying, sabotage, and breaking the oath of loyalty etc?
 Quoting: Anonymous Coward 28681231


The FED is not part of the US government. It's private.
The Årtist

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03/13/2014 10:14 AM

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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
While I do agree we are headed for a major collapse / crisis...

Peter Schiff has been saying this since the 1700s
The Artist
Anonymous Coward
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03/13/2014 10:15 AM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
How many economists, investors, etc...have to say these things before the masses start to actually hear them?
 Quoting: Wash


Well he masses are alright. They are still working. Don't care until it affects them directly....cool2
Relativity
Bullshit Radar

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03/13/2014 10:35 AM

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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
Washington is engaged in a massive "campaign" to make Americans believe the economy is in recovery. But in reality the United States is at the brink of a devastating economic crash that will cause catastrophic market losses and impoverish millions.

President Obama and like-minded politicians claim this stimulus has pushed the economy forward, boosting GDP and keeping inflation low.

But Schiff says "it's another lie."

In fact, according to Schiff, the government has done nothing more than create a "phony" economy that is "completely dependent on the ability to borrow more money that we can't pay back."

"The Fed knows that the U.S. economy is not recovering," Schiff said. "It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode."
[link to signup.moneymorning.com]
 Quoting: Wash


pinni
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03/13/2014 10:48 AM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
The Schiff video is spot on. He was absolutely right in his analysis and prediction. No one can say what is going to happen tomorrow but a smart guy with good analytical ability can tell you what the trend is. The way you get ahead is positioning yourself to take advantage of the trend.

People are whining that they don't like what he has to say because they don't want to face the truth. The path the fed and the government are on is unsustainable. That which cannot go on forever eventually comes to and end. Money printing will come to an end here as it did in Argentina and Zimbabwe. Exactly when that will happen nobody knows. How it will play out over time is fairly well understood.

The feds will come after your savings, just like they did in Argentina. MyRA is a step in that direction. They did so well with your Social Security taxes that they now want your IRA $. They won't get enough of it that way, so taxes on retirement funds over a certain amount , or else a forced investment in Treasuries, is very likely. Loss of purchasing power of the dollar is a certainty. A decline in the stock market is a certainty as QE unwinds. Just like the housing bubble popped, for the reasons Peter explained, the stock bubble will pop. Will it be next week? I don't know, but it will happen unless QE continues.

Gold and silver will maintain value, i.e. go up in dollar terms, as the feds lose control of Comex prices. As the labor participation rate continues to fall housing prices will continue to deflate. Consumables will rise in cost as more and more have to be imported. Oil, food, energy costs are going up. Wages will stagnate for most. Arable land values will stay steady or rise.

These are the trends, and they will continue into the future.
Wash (OP)

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03/13/2014 11:21 AM

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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
From 2010:
'World could be plunged into crisis in 2014': Cambridge expert predicts 'a great event' will determine course of the century

Professor Nicholas Boyle of Cambridge University, who carried out the research, has pinpointed the global financial crisis as the trigger for the next 'Great Event'.

And he claims the U.S., with its waning economic influence but unrivalled military power, holds the key to determining the course and character of the next 90 years

Read more: [link to www.dailymail.co.uk]
Follow us: @MailOnline on Twitter | DailyMail on Facebook
Roll Tide Roll.
Anonymous Coward
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03/13/2014 11:37 AM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
I agree with Peter Schiff nearly 100%. The problem I have is that he has been saying "soon", "eventually", "heading for", etc. for almost a decade now.

He's becoming as reliable as EAT!
Wash (OP)

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03/13/2014 11:40 AM

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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
I agree with Peter Schiff nearly 100%. The problem I have is that he has been saying "soon", "eventually", "heading for", etc. for almost a decade now.

He's becoming as reliable as EAT!
 Quoting: Anonymous Coward 21704313


LOL!! Nice one.
Roll Tide Roll.
Revbo™
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03/13/2014 11:43 AM

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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
...


You could borrow less money, if you're one of those who has borrowed too much. You could try and wake a few folks up to do the same, but both of those things are just gonna help you feel like you're doing something and won't really help at this point. Mostly, though, prepare as best you can, because we're way too far down this path for anything to be done about it other than hyperinflation, default, or war, and probably all three.
 Quoting: Revbo™


So, to sum it up, we're fucked in the end?
 Quoting: Anonymous Coward 22755116


Yep. Happens to all great empires sooner or later. We're just the unlucky ones to be born too close to the end of the big Ponzi scheme.
 Quoting: Revbo™


I am sure there were a bunch of roman soldiers standing around as the vandals approached. Saying this is just a bit of a rough patch , the empire will survive it.

Or any empire collapse really same shit different time periods
 Quoting: Anonymous Coward 55488073


chuckle

"I'm tellin' ya, Cassius. It's all about to crash."

"Yeah, right, Augustinus, you crazy bastard. There are green shoots everywhere. Those Vandals can kiss my ass."
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
xXOnyxXx

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03/13/2014 11:49 AM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
financial doom: a dessert worth waiting for ....
nohing good ever happens over night people, they're slow and steady when it comes to screwing the people!
Mr. Toppit

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03/13/2014 11:49 AM

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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
We get rid of the Dems and get the Repugnuts Reich back. Its as reliable as cluckwerk.

Obama Busted & Bummer Boehner Time.

Its a monumental loss of faith in the government. Crooked corrupt and complicit in bringing on a new euro war with Russia as a cover.

blah kill the economy, it deserves it.
HangZen
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03/13/2014 12:10 PM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
Few thoughts:

#1 The American people are (and have been) pretty resilient with regard to cyclical economic conditions. Even during the financial crisis of 2008, there were people actively participating in this economy in one way or another. Therefore, I'm confident that no matter what economic crashes come our way productive Americans will still find a way to earn a living. Note the word 'productive'.

#2 There is something big on the horizon. I think within the next 5 years there will be an economic and political shift that we have not felt since the early 1980's. However, I believe it will happen after we have a 1970's style spike in interest rates and energy prices. I mean a BIG spike (energy prices are leading the way). Everybody will be feeling that pain for about 6-8 months. Therefore, paying off debt now will be one of the best things anyone can do.

#3 If you are hoping for an end of the world scenario and have fantasies of a 'post apocalyptic walking-dead style' America where you get to walk around like a military clad anarchist then I wouldn't quit my cubicle day job... that just ain't gonna happen unless a natural disaster occurs. Until then, your life will be just as boring as it has been... with the exception that you will have much less discretionary income to entertain yourself. :(



These doom and gloom economic professors are about half right... AND they make their money by buying when everyone else panics and sells. Just keep that in mind.
Anonymous Coward
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03/13/2014 12:14 PM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
No offense to you, Wash, but these guys seriously need to either give a specific date or shut the fuck up.

I'm tired of Schiff, celente and all the other economic doom guys repeating the same shit they have been since 2010. I realize these were the same guys that predicted 2008, but the game has changed. Everything is being propped up and it's all artificial, from the digital money they keep pumping into the markets, to the reports they keep manipulating to look good. I realize it can't last forever, but I think they can keep it afloat indefinitely if they control the money, and they do.
 Quoting: Black Unit


clappa
Just Some Guy

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03/13/2014 12:16 PM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
The problem I have with this is that Peter has been saying this for over ten years.
I guess eventually he'll be right.
Anonymous Coward
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03/13/2014 12:18 PM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
this the reason america is trying its hardest to bring about ww3

everyone knows

such a shame
 Quoting: Anonymous Coward 47466800


i think so too, seems a little co-incidental doesent it?
Curtis~Fre

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03/13/2014 12:23 PM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
"The Fed knows that the U.S. economy is not recovering," Schiff said. "It simply is being kept from collapse by artificially low interest rates and quantitative easing,(...Add Metal price manipulations to this equation.) As that support goes, the economy will implode."
Go with the flow, but think for yourself.
Anonymous Coward
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03/13/2014 12:29 PM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
I like Peter. He is right. Except people are tired of hearing it, because the PTB have done a remarkable job of keeping this shit barge afloat....
 Quoting: Anonymous Coward 46348647


Boy you said it! ha
Anonymous Coward
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03/13/2014 12:33 PM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
How many economists, investors, etc...have to say these things before the masses start to actually hear them?
 Quoting: Wash


The masses won't hear it until it happens, Wash. I won't launch into a whole diatribe about sheeple, normalcy bias, etc, but you know how it is.

Enter Zazz with the sleepwalker response now...
 Quoting: Revbo™


As long as 401K number are up, everybody praise the Gov.
The Normalcy Bias
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03/13/2014 12:37 PM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
Washington is engaged in a massive "campaign" to make Americans believe the economy is in recovery. But in reality the United States is at the brink of a devastating economic crash that will cause catastrophic market losses and impoverish millions.

President Obama and like-minded politicians claim this stimulus has pushed the economy forward, boosting GDP and keeping inflation low.

But Schiff says "it's another lie."

In fact, according to Schiff, the government has done nothing more than create a "phony" economy that is "completely dependent on the ability to borrow more money that we can't pay back."

"The Fed knows that the U.S. economy is not recovering," Schiff said. "It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode."
[link to signup.moneymorning.com]
 Quoting: Wash


The World's Biggest Lie.

tHeY'rE eVeRyWhErE....

E-V-E-R-Y-W-H-E-R-E!!!!!
Pinocchio Goes to Israel
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03/13/2014 12:41 PM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
The problem I have with this is that Peter has been saying this for over ten years.
I guess eventually he'll be right.
 Quoting: Just Some Guy


He was right in 2008-09. That is until the banks were decided as being "Too big to fail"
Anonymous Coward
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03/13/2014 12:43 PM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
. . . and i feel everyone in the World is wishing us GodSpeed:

“America, minus the mask: First and foremost, a nation of killers
13.03.2014”
[link to english.pravda.ru]

“You could say this sly, self-justifying homicidal behavior is really a human problem, endemic to every nation or ethnic group. More fashionable lately is to blame it all on the clever Jews, who have controlled America and most other countries in a surreptitious way for a very long time. But lately, at least for most of the last century, when the blood of innocents is seeping into ravaged landscapes charred by bombs, it has always been Americans doing the bulk of the killing. This is something - from Sand Creek to Dresden to My Lai to Fallujah - that makes them very proud.”
Continued here:
[link to english.pravda.ru]

Personally

Think the best word is MURDERERS, not ”killers“.
Here is an example of what I mean:
Thread: “Nebraska Police Officer Who Shot and Killed Pet Cat Barely Receives Slap on the Wrist”
Anonymous Coward
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03/13/2014 12:49 PM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
Washington is engaged in a massive "campaign" to make Americans believe the economy is in recovery. But in reality the United States is at the brink of a devastating economic crash that will cause catastrophic market losses and impoverish millions.

President Obama and like-minded politicians claim this stimulus has pushed the economy forward, boosting GDP and keeping inflation low.

But Schiff says "it's another lie."

In fact, according to Schiff, the government has done nothing more than create a "phony" economy that is "completely dependent on the ability to borrow more money that we can't pay back."

"The Fed knows that the U.S. economy is not recovering," Schiff said. "It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode."
[link to signup.moneymorning.com]
 Quoting: Wash


Employees usually have to sign an oath to be loyal to their employer, so couldnot we sue each and every one of our servants' via their paychecks for lying, sabotage, and breaking the oath of loyalty etc?
 Quoting: Anonymous Coward 28681231


The FED is not part of the US government. It's private.
 Quoting: Anonymous Coward 26148548


so youare saying our government has no knowledge of this; only the "Feds" know it, and the author, of course, of this post, and now the whole rest of us here?
Anonymous Coward
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03/13/2014 12:52 PM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
Washington is engaged in a massive "campaign" to make Americans believe the economy is in recovery. But in reality the United States is at the brink of a devastating economic crash that will cause catastrophic market losses and impoverish millions.

President Obama and like-minded politicians claim this stimulus has pushed the economy forward, boosting GDP and keeping inflation low.

But Schiff says "it's another lie."

In fact, according to Schiff, the government has done nothing more than create a "phony" economy that is "completely dependent on the ability to borrow more money that we can't pay back."

"The Fed knows that the U.S. economy is not recovering," Schiff said. "It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode."
[link to signup.moneymorning.com]
 Quoting: Wash


Employees usually have to sign an oath to be loyal to their employer, so couldnot we sue each and every one of our servants' via their paychecks for lying, sabotage, and breaking the oath of loyalty etc?
 Quoting: Anonymous Coward 28681231


The FED is not part of the US government. It's private.
 Quoting: Anonymous Coward 26148548


so youare saying our government has no knowledge of this; only the "Feds" know it, and the author, of course, of this post, and now the whole rest of us here?
 Quoting: Anonymous Coward 28681231

what kind of involvement and contract do we have with these, so-called, "Feds", folks?- is it substantial enough that we can sue for damages ?
Mr. Toppit

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03/13/2014 01:09 PM

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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
Washington is engaged in a massive "campaign" to make Americans believe the economy is in recovery. But in reality the United States is at the brink of a devastating economic crash that will cause catastrophic market losses and impoverish millions.

President Obama and like-minded politicians claim this stimulus has pushed the economy forward, boosting GDP and keeping inflation low.

But Schiff says "it's another lie."

In fact, according to Schiff, the government has done nothing more than create a "phony" economy that is "completely dependent on the ability to borrow more money that we can't pay back."

"The Fed knows that the U.S. economy is not recovering," Schiff said. "It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode."
[link to signup.moneymorning.com]
 Quoting: Wash


The World's Biggest Lie.

tHeY'rE eVeRyWhErE....

E-V-E-R-Y-W-H-E-R-E!!!!!
 Quoting: The Normalcy Bias 55553133


The US.Gov has a nasty addiction to lying. That's for sure.
The World's Biggest Lie
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03/13/2014 01:15 PM
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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
Washington is engaged in a massive "campaign" to make Americans believe the economy is in recovery. But in reality the United States is at the brink of a devastating economic crash that will cause catastrophic market losses and impoverish millions.

President Obama and like-minded politicians claim this stimulus has pushed the economy forward, boosting GDP and keeping inflation low.

But Schiff says "it's another lie."

In fact, according to Schiff, the government has done nothing more than create a "phony" economy that is "completely dependent on the ability to borrow more money that we can't pay back."

"The Fed knows that the U.S. economy is not recovering," Schiff said. "It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode."
[link to signup.moneymorning.com]
 Quoting: Wash


Employees usually have to sign an oath to be loyal to their employer, so couldnot we sue each and every one of our servants' via their paychecks for lying, sabotage, and breaking the oath of loyalty etc?
 Quoting: Anonymous Coward 28681231


The FED is not part of the US government. It's private.
 Quoting: Anonymous Coward 26148548


so youare saying our government has no knowledge of this; only the "Feds" know it, and the author, of course, of this post, and now the whole rest of us here?
 Quoting: Anonymous Coward 28681231


The federal reserve bank is a private bank. Yet they are about as federal as federal express. The govt asks for money, the fed loans it to the govt, with interest, and the govt taxes its people.

Go to Youtube and watch "The end of the Road" "How Money Became Worthless" for a rather simple yet informative explanation to the greatest ponzi scheme the earth may never see again.
Hardwired

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03/13/2014 01:45 PM

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Re: Peter Schiff: We're Heading For A Crisis Worse Than 2007
I hear and see this all the time but what I don't hear is how to fix the problem or what us "sheeple" can do about it. I'm an average no one with no power, money, or pull...so I ask, what can I do? I'm more than willing to help out.
 Quoting: Anonymous Coward 22755116


Divorce yourself from the system. If you aren't reliant on it, the effects of collapse won't be as noticeable.

Change your mindset so you come to view collapse as normal (which it is) and see it as an opportunity. This will require changing attitudes, a personal paradigm shift.

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