THE PETER SCHIFF BLOG : An Unofficial Tracking of Peter Schiff and The Libertarian Austrian School of Economics
I think that unless during economic growth periods the government saves primarily the costs of debt and interest spending. Like Brasil.
Obama would have more credibility if his own budget now pending before Congress didn't make a mockery of everything he says in this address. I will be surprised, but pleasantly so, if he even demonstrates the will to make even enough cuts to offset his expansions of spending. In any case, the budget doesn't need the fat and waste trimmed, the Federal Government needs major amputations. Neither the Democrats or the Republicans have the will to do that.
Liar Liar, Pants on fire....I think this is a result of the tea Party's. BSer in Chief doing what he does best.
I thought he was on crack but it turns out he's on mushrooms or maybe acid! What a GD liar. Where did he get these numbers? From the same team Clinton had; oh wait that's HIS team. Same people. Look who he put in charge or TARP! Is that a reward for how well the guy ran Fannie Mae? The con-man-in-chief leading Team Odumba! My god. Forget gold I'm buying food!
Quick add on: Americans were living within their means until the banksters screwed us. The bills were getting paid until the money these guys owed came due. When they couldn't pay there went the jobs, house payments went up and home values went down. That when we got screwed. Also I think Odumda watched Morgan Freeman's speech to the country in the movie "Deep Impact". Compare them and judge for yourself. Especially the part about life will go on...just not for everybody!
Basically the first half was "you know this guy Bush screwed up all the good work that was done by Clinton." The second half was "I hope you tea party guys simmer down, I see the the writing on the wall." He'll make some cuts, primarily defense (which lord knows needs to have a heavy axe brought to it), he'll TRY to reduce medicare reimbursements but the medical field has had about enough and will go into wholesale insolvency if he trys to cut more, he may as well socialize medicine with all the constraints they have now they are "private in name only."What he doesn't remedy is the SPENDING he's proposing which is phenomenal. So lets say he cuts 25-50B before the special interests really start howling, He's gonna spend 100xs that on other boondoggles. I think the tea parties around the country caught his attention, so this is basically window dressing. He's hoping Americans have their typical "sound byte attention span" and just go away. Boy is he going to be surprised.What is amazing is the reaction of the media. The media seems to still be enamored with their guy Obama, and how dare these "teabaggers" question the commander in chief. These same "deep throat journalists" who in the seventies despised the government seem to now be indignant that someone could actually disagree with it. No wonder everyone looking for relief from the non-stop brainwashing of the MSM is turning to the internet for relief. Strange days ahead..............
I actually believe that president Obama has been paying attention to mr. Peter Shiff sound advices. However, I also believe that mr. Obama has been speaking with Central Bank Governor Zhou Xiaochuan. It is quite obvious that the Chinese Government is doing what they can to secure the value of their reserve in USD: http://www.chinadaily.com.cn/china/2009-04/19/content_7692306.htm
Guys, he is our president and we should respect him instead of calling him names. I for one appreciate his sentiments and hope he follows through with the cuts. Even though we don't believe in everything he stands for we should support him and voice our opinions in a respectful way.
Does This Speech Rather Acknowledge Impending Crash Of US Dollar?Well Peter, it seems as if Obama is DELIBERATELY working for crash of US Dollar, as u've so much expostulated upon--I think u even said it's now probably too late to even stop such impending crash.So isn't all this talk now fm Obama mere cover for blame--for what anyone ought to know is coming?--regarding aforementioned crash? Thanks for ur comments. Apollonian
Is this a joke?and TARP wasn't a complete waste?