Saturday, December 12, 2009

Peter Schiff Q&A Woodbury Connecticut Republican Town Committee

Peter Schiff Q&A in Woodbury on November 19, 2009

Source Youtube : "Peter Schiff offers a new way to look at politics. Not since Ronald Reagan has someone come along armed with such common sense logic and the will to make history by saving America. The question yet to be answered is if Connecticut and America is ready for some old-fashioned truth serum, followed by the Castor Oil to make the economy whole again.

Schiff spoke at length in Woodbury on November 19, 2009. After his formal presentation he stayed to speak individually to concerned citizens. This series of videos is a window into the mind of a brilliant man
Peter Schiff's visit to the Woodbury, Connecticut Republican Town Committee on the evening of November 19, 2009. Woodbury, the home of the Dump Dodd movement, is one of the hotbeds of grass roots conservatism gaining momentum inside Connecticut.

Mr. Schiff does not pull any punches. Within inner circles of the investment community and across all social barriers, Mr. Schiff is kindly referred to as "Dr. Doom", for his gloomy forecasts of America's economic future. Compounding his acclaim is the uncanny accuracy he has established with every prediction.

His run for Senate will be entertaining as well as serious business."

Peter D. Schiff, president of Euro-Pacific Capital, a Connecticut-based brokerage who correctly foresaw the U.S. stock-market slide, the home mortgage meltdown and the credit crunch
Peter Schiff discusses politics, world economies, and investment strategies , Peter Schiff is Author of the Best Seller Crash Proof How to Profit From the Coming Economic Collapse


  1. Manufacturing means manufacturing manufacturing equipment which means manufacturing machine building equipment which means manufacturing machine tools which means using the same machine tools to manufacture themselves for machine tools are the only machines that can reproduce and manufacture themselves. That is where you should start, the machine tool sector! Which explains why you Americans must design and build an American version of Uralmash, Russia's Factory of all kinds of Factories.

  2. The question for Mr Schiff is: "Take the scenario of America not having all the anti-competitive policies that China does not have, so America becomes competitive on that level. Why, in this scenario, should American capitalists then invest in America over China, when Chinese labour is still so much cheaper?"

    Okay, America has established infrastructure that China does not have that serves your industry, but that should not be a great concern for most industries nowadays. You can still get things done in China.

    Free trade still looks to me like a way of normalising real wealth between the USA and China. With free trade, would the USA have to wait for China to develop until the point where they are both developed countries? Maybe, I think.

    In New Zealand we have virtual free trade with China. But this is not a problem because we make food and that's mostly what our economy is based on - and so our farms are locked to the ground, and can't be outsourced.

    All this is quite difficult to simulate in my mind. And a lot of China's cheap labour is artificial - a trick of over and under inflated currencies. If America makes enough stuff, for whatever reason (regardless of what its dollar is doing), then it should still achieve a real wealth to reflect that. I am suspicious that free trade could basically just have the effect of making property owners vastly more wealthy that the worker class. This could be the direct effect of free trade, where free trade leads to a functional saturation of labour relative to infrastructure. Again it's difficult.

    Andrew Atkin


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