Home › Forums › Financial Markets/Economics › Peter Schiff, please continue
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an.
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November 2, 2007 at 12:57 PM #10798November 2, 2007 at 1:09 PM #94832
4plexowner
Participantthe same issue exists with auto loans
and, the banking cartel has created numerous derivative products that are based on the underlying credit-card and auto debt – these derivatives and their underlying debt should be blowing up here shortly
the derivative mountain that is currently collapsing is ONLY the $20 trillion in real-estate related derivatives
at some point in our future (not long I’m thinking) the entire $450+ trillion mountain of derivatives sitting on top of credit-card and auto debt will blow up (along with derivatives based on interest rates, price of oil, etc)
as I said earlier today, the banking industry is in the process of collapsing – don’t be fooled by all the distractions – this is the failure of fiat currency, central banking and reserve banking
we are all witnesses to history
November 2, 2007 at 1:09 PM #948864plexowner
Participantthe same issue exists with auto loans
and, the banking cartel has created numerous derivative products that are based on the underlying credit-card and auto debt – these derivatives and their underlying debt should be blowing up here shortly
the derivative mountain that is currently collapsing is ONLY the $20 trillion in real-estate related derivatives
at some point in our future (not long I’m thinking) the entire $450+ trillion mountain of derivatives sitting on top of credit-card and auto debt will blow up (along with derivatives based on interest rates, price of oil, etc)
as I said earlier today, the banking industry is in the process of collapsing – don’t be fooled by all the distractions – this is the failure of fiat currency, central banking and reserve banking
we are all witnesses to history
November 2, 2007 at 1:09 PM #948944plexowner
Participantthe same issue exists with auto loans
and, the banking cartel has created numerous derivative products that are based on the underlying credit-card and auto debt – these derivatives and their underlying debt should be blowing up here shortly
the derivative mountain that is currently collapsing is ONLY the $20 trillion in real-estate related derivatives
at some point in our future (not long I’m thinking) the entire $450+ trillion mountain of derivatives sitting on top of credit-card and auto debt will blow up (along with derivatives based on interest rates, price of oil, etc)
as I said earlier today, the banking industry is in the process of collapsing – don’t be fooled by all the distractions – this is the failure of fiat currency, central banking and reserve banking
we are all witnesses to history
November 2, 2007 at 1:09 PM #948974plexowner
Participantthe same issue exists with auto loans
and, the banking cartel has created numerous derivative products that are based on the underlying credit-card and auto debt – these derivatives and their underlying debt should be blowing up here shortly
the derivative mountain that is currently collapsing is ONLY the $20 trillion in real-estate related derivatives
at some point in our future (not long I’m thinking) the entire $450+ trillion mountain of derivatives sitting on top of credit-card and auto debt will blow up (along with derivatives based on interest rates, price of oil, etc)
as I said earlier today, the banking industry is in the process of collapsing – don’t be fooled by all the distractions – this is the failure of fiat currency, central banking and reserve banking
we are all witnesses to history
November 2, 2007 at 1:29 PM #94852SHILOH
ParticipantWhen they are talking about GDP growth –in goods and services –is the growth in financial services or IT or what? Who benefits from it?
Despite some of this recorded *growth* it doesn’t change the truth about the growth in wealth disparity and that for most average Americans, technology has improved our standard of living, but wages don’t keep pace –even with inflation.
An analysis of that would bring some truth to what is happening in our economy.
November 2, 2007 at 1:29 PM #94906SHILOH
ParticipantWhen they are talking about GDP growth –in goods and services –is the growth in financial services or IT or what? Who benefits from it?
Despite some of this recorded *growth* it doesn’t change the truth about the growth in wealth disparity and that for most average Americans, technology has improved our standard of living, but wages don’t keep pace –even with inflation.
An analysis of that would bring some truth to what is happening in our economy.
November 2, 2007 at 1:29 PM #94915SHILOH
ParticipantWhen they are talking about GDP growth –in goods and services –is the growth in financial services or IT or what? Who benefits from it?
Despite some of this recorded *growth* it doesn’t change the truth about the growth in wealth disparity and that for most average Americans, technology has improved our standard of living, but wages don’t keep pace –even with inflation.
An analysis of that would bring some truth to what is happening in our economy.
November 2, 2007 at 1:29 PM #94917SHILOH
ParticipantWhen they are talking about GDP growth –in goods and services –is the growth in financial services or IT or what? Who benefits from it?
Despite some of this recorded *growth* it doesn’t change the truth about the growth in wealth disparity and that for most average Americans, technology has improved our standard of living, but wages don’t keep pace –even with inflation.
An analysis of that would bring some truth to what is happening in our economy.
November 2, 2007 at 2:31 PM #94864hipmatt
ParticipantHere is another new video…
Peter on the Glenn Beck show… great show BTW…
http://www.europac.net/Schiff-CNN-11-1-07_lg.aspNovember 2, 2007 at 2:31 PM #94929hipmatt
ParticipantHere is another new video…
Peter on the Glenn Beck show… great show BTW…
http://www.europac.net/Schiff-CNN-11-1-07_lg.aspNovember 2, 2007 at 2:31 PM #94918hipmatt
ParticipantHere is another new video…
Peter on the Glenn Beck show… great show BTW…
http://www.europac.net/Schiff-CNN-11-1-07_lg.aspNovember 2, 2007 at 2:31 PM #94927hipmatt
ParticipantHere is another new video…
Peter on the Glenn Beck show… great show BTW…
http://www.europac.net/Schiff-CNN-11-1-07_lg.aspNovember 2, 2007 at 3:06 PM #94943Arraya
Participanthttp://blogs.telegraph.co.uk/business/ambrosevanspritchard/oct07/skyhasfallen.htm
If you are a bear, you must accept that you will always be wrong in polite society, and you will continue to be wrong all the way down to the bottom of recession. That is the cross that bears must bear.
Over the last three months we have seen a rolling collapse of speculative debt and real estate across half the global economy, yet friends still come over to my desk at the Telegraph, with that maddening look of commiseration on their faces, and jab: “so when is the sky going to fall then, eh”?
Well, excuse me. The sky has fallen. The median price of new homes in the US has crashed from a peak of $262,6000 in March to $238,000 inSeptember. This is a 9pc drop nationwide.
November 2, 2007 at 3:06 PM #94939Arraya
Participanthttp://blogs.telegraph.co.uk/business/ambrosevanspritchard/oct07/skyhasfallen.htm
If you are a bear, you must accept that you will always be wrong in polite society, and you will continue to be wrong all the way down to the bottom of recession. That is the cross that bears must bear.
Over the last three months we have seen a rolling collapse of speculative debt and real estate across half the global economy, yet friends still come over to my desk at the Telegraph, with that maddening look of commiseration on their faces, and jab: “so when is the sky going to fall then, eh”?
Well, excuse me. The sky has fallen. The median price of new homes in the US has crashed from a peak of $262,6000 in March to $238,000 inSeptember. This is a 9pc drop nationwide.
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