recovery or inflation, the politics of spin
Wednesday, May 12th, 2010 at
6:31 pm
also check me out on www.facebook.com and twitter.com
Related Articles
Tagged with: bear • ben • bernanke • bubble • bull • collapse • Commodities • crash • crisis • currency • depression • dollar • doom • economic • economy • euro • faber • Gold • Hang • Inflation • market • nasdaq • NYSE • oil • paul • peter • Recession • rogers • ron • Sang • schiff • silver • Stagflation
Filed under: Inflation
Like this post? Subscribe to my RSS feed and get loads more!
Welcome to politics Peter. Everything you say (and do not say) can and will be used against you.
It’s such a cesspool. It’s politics that helps me confirm my anarcho-capitalist viewpoints.
Ironically, he would be fighting fascism.
Capitalist, yes.
Anarchy, no.
If what you object to is the idea of taxes, of the government taking money from people, then my solution is this. 0% tax rate. It’s easy. The government just needs a couple trillion dollar surplus, and then it can pay for everything with the interest it gets. This would also motivate it to keep interest rates as high as possible, and thus encourage savings.
Just know that we need the government like cars need stoplights.
1)A budget surplus? Where does it get its revenue?
2) That’s a horrible economics example, we don’t want “high” or “low” interest” rates. We want equilibrium in saving and investment which will tell us the market rate of interest.
3) Cars don’t need stoplights. Haven’t you ever heard of the Peltzman effect?
peter is the man
It gets it’s capital from high taxes, and once the revenue is high enough, it stops taxing and lives off interest.
Also, you will get the “equilibrium” interest rate, because people will be more inclined to save money. If you shift public perception, you shift the equilibrium. No money is printed. You do get the market rate.
This is tough love. The government, through it’s own self interest, encourages us to save more now, which gives us the benefits of more production in the future.
Peter,
I have a question I’ve been grappling over. With all the infusion of cash by the fed, shouldn’t we see price ‘inflation’ at the store?
In terms of dollar$, in last 6 months all of the following have fallen in price: houses, rent, gasoline, and groceries.
Over the last 3 months I CLEARLY have seen the dollar falling and gold up…YET timber, cotton, dairy, livestock, oil etc.. are all flat or down.
When are we going to see $ price increases at the checkout line (real inflation)?
You are talking about price inflation vs. monetary inflation. We are currently seeing the over-expansion of credit causing price deflation. The Fed is attempting to keep prices up by inducing monetary inflation (creating more money). But, most of the money that is being created is still being held by the banks, it won’t cause price inflation until it circulates into the overall economy and/or the deflationary trend ceases and the Fed is caught with rapid inflation; which will probably happen
Peter Schiff is not related to Jacob Schiff. And so what if he was? Your argument is the same smear that tied Obama to Ayers and Rev. Wright and said Obama was a Muslim. Please stop the smear.
1)You mentioned that you want a zero percent tax rate. The interest will stop one day, and how big of a government will suffice this?
2) Oh, thanks for clarifying. I didn’t think that you implied that.
Everybody needs to write in Peter Schiff in their own state Senate election – we need to send a message that his kind of thinking is what we need in Congress. Just think how it would be to have someone who can articulate clearly on complex issues in easy to understand words without having to read it. (Are you listening Obama?)
Peter Shiff y’all – YEH!
you don’t even know what that means.
Peter Schiff is flying around in his business jet spreading common sense to all americans! Keep up the good work Pete!!
my jewish friend say the same thing
Prices theoretically should adjust once the money works its way through the system and it is realized that it is less valuable, which can take some time. Sorry if this doesn’t adequately answer your question.
only a simpleton would deny that Obama isnt tied to Ayers and Wright. They all serve the same god…..Lucifer.
That’s a good idea. Done.
Thanks for the info Peter as always !!
Being missunderstood or even mischaracterised is painful, insulting and CAN destroy a person so I am glad you are holding up well.
yeah when spin spins and eats it’s self .
you are like an economic rock star with the charisma of those mop headed scouse boys, and im screaming!
love your updates
bit grainy this video.
Peter Schiff called the crash. it didn’t happen for exactly the reasons he said it would but it was because of too much paper money created, too much debt, too much mismanagement. Where he was not correct was in foreign markets….they dropped as much as the US market if not more. There’s no safe place in stocks in a crash. Gold help up pretty well so he was right about that. Jeff Kassel
lol the girl on cnbc proabably kicked him off because they needed to go to commercial meanwhile they where in a heated debate
maybe this is a newspeak recovery meaning … in oldspeak it means reflate the bubble – re-cover-up …
liz –
“Peter assumes that the rest of the world does not and will not have economic problems and he is anti Obama. ”
Neither of those statements are even remotely true, which says a lot about you.