American rescission

I couldn't find a post that seemed to fit the bill for this. But I find these 2 videos from 2006 to be somewhat sad and I hope that the Peter Schiff got his penny :). The second video has the worst display in behaviour where the others just end up laughing at him. In the light of current events it seems that Mr. P. had things figured out rather accurately.

Anyhoo, I thought some of you might find them interesting as they are a little more central to your current events although the fallout is going to hit all nations with a stockmarket.
Edit:According to wiki he was an economic adviser for the Ron Paul. Not knowing much else about Ron other than he had an economist who followed the Austrian school of economic thought. I do think I would rather have seen him running against Mr. Obama.

Video 1

Video 2

Peter Schiff was the only one talking facts, the others were emoting their opinions.

Yes, I completely agree. It's always interesting to me to see how many people can only see in hindsight and just can't separate rational arguments from fluf.
But the market corrects itself eventually.

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Originally Posted by gugi

Yes, I completely agree. It's always interesting to me to see how many people can only see in hindsight and just can't separate rational arguments from fluf.
But the market corrects itself eventually.

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Well, to be fair economies run on more than just rationality, and very often not even on that. Just look at the stock market and how it behaves. People in positions of power need to be careful about what they say when addressing these issues, IMO. Modern Economics is as much about psychology as it is about rationality and empiricism, regardless of what Economists would like you to think.

But you are right - I've seen that guy on the news before - and he is a straight talker and cuts through the crap. Living off borrowed money? Fine, but prepare for the fall.

As far as the market correcting itself goes - I wonder what unforeseen consequences these world-wide bail-outs may have into the future. Market correction is traditionally something a market does for itself...

James.

It seems to me they are trying to solve the problem with more of the same thing that caused it, debt.

Hej Chady - the world's problems can be solved with the best candy only found in Denmark - Matador Mix! Start the movement! RalphS.

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Originally Posted by RalphS

Hej Chady - the world's problems can be solved with the best candy only found in Denmark - Matador Mix! Start the movement! RalphS.

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Although I prefer Norwegian chocolate, I'm down for supporting world peace through candy!

Some interesting info on the bigger picture.
YouTube - Charlotte Thomson Iserbyt on Alex Jones Tv:Bank Criminals 1/3

Oh, no, we're headed to 'a zombies society'....
Oh, well there's always the conspiracy theories, but I wish they'd make their case a bit more plausible than just 'these evil ones are out to get all of us good folk, if you don't believe me go read 3000 pages on my website' :)

A New America. An idea whose time has come.

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Originally Posted by denmason

A New America. An idea whose time has come.

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But that would only work if you can get a majority who want to do things your way.
And if you had a majority who'd agree on how to run the country, you wouldn't have the current political problems in the first place.

If your plans are not more detailed than 'we have to remake america', then you might as well not bother because you are going nowhere. And your plans had better not rely on altruism or a selfless intelligence on the part of 'the people'. Because in general, 'the people' don't care if it doesn't gain them anything tangible.

I mean no offense (I really don't) but without solid plans for a realistic society and a significant public backing, your words are just hollow slogans.

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Originally Posted by Bruno

I mean no offense (I really don't) but without solid plans for a realistic society and a significant public backing, your words are just hollow slogans.

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That's all they were meant to be....