Peter Schiff-you will be rememebered as one of the few sane voices to truly understand economics in our time.Don't ever stop doing what you're doing!Thankyou.
Thanx for yet another interesting analyse! Somehow I understand the Germans, since they actually make cars that Germans buy. However, the rest of us would just be financing other countries cars. The most odd thing I saw was that UK is also discussing tax cut on old cars. One could wonder why? Do they even produce cars in UK? But then again, Bank of England seems to be copy everything that Federal Reserve is doing. Our British friends is obviously trying to take the best from Germany (tax cut for old cars) and USA (inflationary policy). I wonder if it will kick start the economy?
Anyway, I watch all your v-blogs, and hope that we won't repeat your mistakes over here.
Government deflate the currency to improve exports right? Its been done before in 1933 when Gold was confiscated. Will Gold be taken again?
What about the little talked about Trillion $ derivatives market, that hasn't got much press? I wrote Cramer an email about it but did not get a response.
How much will the Banks and Ins. Cos need later this year or next yr? Please supply this info. IMF says EU and US banks will need $800 billion to be back to pre-crisis level.
We can't do that. So what will be done? How will they fake us out?
Larsson: UK does make cars: Jaguar, Land Rover, Aston Martin, Rolls-Royce, among others are British cars :)
On the other side... American cars tend to be made in Mexico or other parts of South America (wherever is cheaper to produce), however, these cars are taken back into the US and then sold in the US and exported to even the same countries that built them (making this an export-import-export game)
Anonymous: UK also makes Toyota, Honda and several other brands. They are just as British as Jaguar or Rolls-Royce (read: all these famous British brands are no longer owned by British).
I don't know the situation in the USA but here in the UK the credit bubble was very visible. When I arrived here a few years ago, pound was strongly overpriced (in terms of perceived purchasing power), there were far more real estate agents on high street than shops and 1/3 of the "GDP" was being generated by financial institutions with pound being their best selling product.
Way better on the quality of the video.
ReplyDeleteYou take on the economy as usual is spot on!
Peter Schiff-you will be rememebered as one of the few sane voices to truly understand economics in our time.Don't ever stop doing what you're doing!Thankyou.
ReplyDeleteThanks once again Peter. I just had to post Peter's perspective...
ReplyDeleteThanx for yet another interesting analyse! Somehow I understand the Germans, since they actually make cars that Germans buy. However, the rest of us would just be financing other countries cars. The most odd thing I saw was that UK is also discussing tax cut on old cars. One could wonder why? Do they even produce cars in UK? But then again, Bank of England seems to be copy everything that Federal Reserve is doing. Our British friends is obviously trying to take the best from Germany (tax cut for old cars) and USA (inflationary policy). I wonder if it will kick start the economy?
ReplyDeleteAnyway, I watch all your v-blogs, and hope that we won't repeat your mistakes over here.
Regards,
Larsson from Sweden
Government deflate the currency to improve exports right? Its been done before in 1933 when Gold was confiscated. Will Gold be taken again?
ReplyDeleteWhat about the little talked about Trillion $ derivatives market, that hasn't got much press? I wrote Cramer an email about it but did not get a response.
How much will the Banks and Ins. Cos need later this year or next yr? Please supply this info. IMF says EU and US banks will need $800 billion to be back to pre-crisis level.
ReplyDeleteWe can't do that. So what will be done? How will they fake us out?
The banks are bankrupt right now and will collapse once the commercial property market does!
ReplyDeletePeter,
ReplyDeleteI want a daily vBlog of the market. These are great.
Larsson:
ReplyDeleteUK does make cars:
Jaguar, Land Rover, Aston Martin, Rolls-Royce, among others are British cars :)
On the other side... American cars tend to be made in Mexico or other parts of South America (wherever is cheaper to produce), however, these cars are taken back into the US and then sold in the US and exported to even the same countries that built them (making this an export-import-export game)
Regards :)
Anonymous:
ReplyDeleteUK also makes Toyota, Honda and several other brands. They are just as British as Jaguar or Rolls-Royce (read: all these famous British brands are no longer owned by British).
I don't know the situation in the USA but here in the UK the credit bubble was very visible. When I arrived here a few years ago, pound was strongly overpriced (in terms of perceived purchasing power), there were far more real estate agents on high street than shops and 1/3 of the "GDP" was being generated by financial institutions with pound being their best selling product.