"Nobody Wanted to be Told There Was No Santa Claus" (quote taken from Peter Schiff in
video clip below)
By now, we've all heard
about Peter Schiff and his bold (and incredibly accurate) economic predictions
during former President Bush's last term.
Now that we have a new
president (and a whole new party at that) you might think Schiff might
have a different set of predictions. But he doesn't, because both
presidents advocate debt financing - the "easy money"
system where we print money that we don't have and run up the
national debt:
"I think alot of Americans are
going to be disappointed - they think Barack Obama can just ride
into town, and all of a sudden everybody's home equity is going to come
back - all of a sudden they're going to get jobs, all of a sudden their
IRAs and their pensions are going to come back . . . Nothing is going
to happen - the government has no wealth. The government has a
printing press and they can pretend to create wealth by printing money,
but that illusion won't last very long" . . . "our military might is
going to follow our economic might and we're going to be increasingly
marginalized . . . we're still living off of the reputation that we
once had, and we're still squandering the wealth that was handed to us
by our grandparents instead of creating any new wealth . . . the new
wealth creation is taking place outside the US" -Peter Schiff - Jan. 2009
"The stimulus package is
the worst thing we could do. It's not going to stimulate the
economy - it's just going to stifle it further. Everything the
government has done thus far is contributing to the problem. It's
making the problem worse - making the economy worse. Everything
that Barack Obama is going to do is going to further deteriorate the
fundamentals of the US economy and make it weaker, make the dollar
weaker, lead to a bigger decline in our standard of living and
ultimately a bigger collapse in the bond market." Peter Schiff - Jan. 2009
In all fairness, it would be nice if
Schiff would point out that all of these bailout/stimulus ideas are not
Obama's ideas. Obama just toes the line, acting on behalf of big
business interests. Coming up
with these kinds of ideas falls way, way outside of the
President's job description. Such ideas are the
job of global elite forums and think
tanks. Presidents seem to be more PR
frontmen these days, hired to give speeches and take heat - not so much
to
think. Obama is not to blame, nor is Bush. But the
media tells us to blame them, and thus many do, while the real decision
makers go largely unnoticed.