What we are seeing is the end of Capitalism.

[Beardo]

[Beardo]

After you watch the fat whale "talk" you can listen to a real expert and compare what they have to say.

[Brehvolution]

I saw that LK w/MM and say waht you want about the guy, but I like his ideas about the auto industry./

[Powerslave]

You know what capitalism is? Gettin' FUCKED.

[Human Snorenado]

Not that Peter Schiff wasn't right about a lot of stuff, but he's still kind of a dill weed- AND everyone on your side was calling him an alarmist idiot for years while he was being, you know, largely right about stuff.

What we're seeing isn't the end of capitalism, it's the end of klepto-capitalism where the inmates run the asylum.  Back to your cages, mutants.  Barry O is running the show now.

[Beardo]

Yeah Peter completely called it all.

Peter Schiff 2012!

[Van Cruncheon]

paul krugman also called it all, earlier, and in a more coherent form. vote for krugman, beardo!

[Beardo]

paul krugman also called it all, earlier, and in a more coherent form. vote for krugman, beardo!

I havent read anything from him where he predicted it would happen like it did. Schiff called out the housing market and fed low interest rates as the start of all the mess. I'll read something from Krugman if you post it.



I was trying to find Krugmans works and looky what I found.

 

Krugman opposes farm subsidies, ethanol mandates and subsidies/tax breaks, NASA manned-space flights, among other things.[39] Krugman opposes European labor market regulation.

[Tauntaun]

I know FoC spammed us with RP stuff but come on guys, COME ON!  He was talking about this forever ago, at least give my nikka RP some cred.  He down nukkaz. 

rpbatman.gif

 

[Cheebs]

Capitalism didn't do us much good. Government wins.

[Human Snorenado]

I know FoC spammed us with RP stuff but come on guys, COME ON!  He was talking about this forever ago, at least give my nikka RP some cred.  He down nukkaz. 

rpbatman.gif

 

The problem with "Dr." Paul and libertopians in general is that while they might have been correct about seeing the pit before we drove into it, their solution to the problem is to dig the pit deeper.  No new regulations (they want FEWER regulations, actually), no government intervention, etc etc.  Like I told one of my libertopian friends the other day, you guys' operating philosophies sound great... on paper, in a vacuum, or in a magical fairy world where programmable robots and not fallible humans are the ones running the machinery of the economy.  In the real world it's distinguished mentally-challenged.

[Beardo]

Dont libertarians want to get rid of the federal reserve? We wouldnt have low interest rates that caused all of this without them...

[Rman]

One could say the US never practiced pure capitalism in the first place.  Corporate welfare has been in place for ages.

[Human Snorenado]

Dont libertarians want to get rid of the federal reserve? We wouldnt have low interest rates that caused all of this without them...

Yeah, that's a great idea.  Let's let anarcho-capitalism reign instead, it worked so well in other areas of the financial market!

I know his corpse has been dug up and brought into way too many arguments lately, but allow me to go Keynesian on your face- NO. 

[Beardo]

Dont libertarians want to get rid of the federal reserve? We wouldnt have low interest rates that caused all of this without them...

Yeah, that's a great idea.  Let's let anarcho-capitalism reign instead, it worked so well in other areas of the financial market!
 

What areas are you talking about?

[Kestastrophe]

Dont libertarians want to get rid of the federal reserve? We wouldnt have low interest rates that caused all of this without them...

Yeah, that's a great idea.  Let's let anarcho-capitalism reign instead, it worked so well in other areas of the financial market!
 

What areas are you talking about?

credit default swaps, which was widely considered to be one of the prime culprits of the crisis. True fact, the credit default swap market is approximately $55 trillion (4x larger than annual U.S. GDP)

[Don Flamenco]

Dont libertarians want to get rid of the federal reserve? We wouldnt have low interest rates that caused all of this without them...

Yeah, that's a great idea.  Let's let anarcho-capitalism reign instead, it worked so well in other areas of the financial market!
 

What areas are you talking about?

credit default swaps, which was widely considered to be one of the prime culprits of the crisis. True fact, the credit default swap market is approximately $55 trillion (4x larger than annual U.S. GDP)

who knew betting on when companies would bite the dust would become so huge?    CDS' are fucked up...I've read and listened to so much about them, but I still feel like I don't quite understand them.

[FlameOfCallandor]

I know FoC spammed us with RP stuff but come on guys, COME ON!  He was talking about this forever ago, at least give my nikka RP some cred.  He down nukkaz. 

rpbatman.gif

 

Did someone say Ron Paul?

spoiler (click to show/hide)

[close]

[Human Snorenado]

I know FoC spammed us with RP stuff but come on guys, COME ON!  He was talking about this forever ago, at least give my nikka RP some cred.  He down nukkaz. 

rpbatman.gif

 

Did someone say Ron Paul?

spoiler (click to show/hide)

[close]

Last known sighting of Ron Paul:'

[Tauntaun]

^

[huckleberry]

Beardo did you actually watch both of those videos? 

Or was your hard on so great that you had to bust your nut and post them without watching first?


  Paul Krugman

[Mandark]

http://select.nytimes.com/2005/10/28/opinion/28krugman.html?n=Top/Opinion/Editorials%20and%20Op-Ed/Op-Ed/Columnists/Paul%20Krugman

"Bernanke and the Bubble" where Krugman calls the housing market unsustainable in 2005.

http://d-squareddigest.blogspot.com/2002/08/were-forever-blowing-bubbles.html

"We're Forever Blowing Bubbles" by Daniel Davies, a couple steps to the left of Krugman, predicting the housing bubble and attributing it to low interest rates.  In the year 2002.

http://economistsview.typepad.com/economistsview/2005/05/_fed_watch_the_.html

Tim Duy's fed watch discussing the housing bubble in 2005.

http://www.dollarsandsense.org/archives/2005/0105baker.html

Dean Baker, another dirty lefty, calls the housing bubble in 2005.

http://www.npr.org/templates/story/story.php?storyId=4679264

Peter Shiller, who is at least liberal (or heterodox) enough to not believe the rational markets theory, warned about the bubble in 2005.



Peter Schiff doesn't have a monopoly on predictions on the housing bubble.  Not even close.  There were many, many people speaking out on this at the same time or even earlier than he was.  Davies, who had Schiff beat by four years, admitted that even at that point he wasn't writing anything terribly original.

There's no reason to idolize Schiff, other than shutting off the flow of information to avoid all that nasty thinking it would require.