Peter Schiff Report Video Blog 11/19/09
Tags:
Peter Schiff economy economic collapse crash gold silver oil bubble doom inflation depression recession rogers faber ron paul ben bernanke euro dollar Hang Sang NYSE nasdaq currency crisis stagflation commodities bear bull market
Yes there will be socialised medicine, after using the law to kill the private sector, as Schiff highlights.
ReplyDeleteYes it will be affordabe. After the government introduces an award system, which basically means that selected old people are euthanised as opposed to given an expensive operation.
Congress is most likely stupid in that they think they can manage the risk of dancing as close to socialism as possible in order to satisfy the voting poor. Just as bankers and economists think they are smarter than the market, Senators think they are smarter than the will of the people.
ReplyDeleteObama is not stupid. He is herding the Senate and the House like a pro towards the cliffs where the republic can crash so badly that only draconian measures can deal with the chaos of a country crashed on the rocks below. Since he hates our country, such a painful result is both anticipated and desired.
Congress is most likely stupid in that they think they can manage the risk of dancing as close to socialism as possible in order to satisfy the voting poor. Just as bankers and economists think they are smarter than the market, Senators think they are smarter than the will of the people.
ReplyDeleteObama is not stupid. He is herding the Senate and the House like a pro towards the cliffs where the republic can crash so badly that only draconian measures can deal with the chaos of a country crashed on the rocks below. Since he hates our country, such a painful result is both anticipated and desired.
All countries with advanced industrial economies heavily regulated or government provided health insurance, except for the U.S. The U.S. is the outlier. What do others countries know that the U.S. does not.
ReplyDeletePeter Schiff's comments make sense but one point was not addressed - what's actually wrong with socialised medicine. Can someone please explain why socialised medicine is bad? In effect you have a government who collects taxes and pays out when you get sick. There are no profit motives and everyone will get covered.
ReplyDeletePeter is obsessed with health insurance premiums and access to purchase the insurance. He apparently assumes that just because you have insurance, you'll be able to get approved for operations, procedures, tests, etc. Wrong.
ReplyDeleteThere are plenty of people who are uninsured. But there are even more people who *think* they're covered because they pay their premiums. Then when they get sick they discover that the insurance companies can deny life-saving procedures.
Also, Peter is assuming that people won't act in their self interest. It's stupid to think that healthy people won't get preventative care, tests etc., "wait 'til they get sick' then buy insurance. That's one of the reasons healthy people stay healthy -- they get preventative care.
I'll take Peter's stock picks any day. But he must have been smoking crack when he recorded this video blog.