3 ms·

I upvoted for this. I take Peter Schiff very seriously. He has been right on housing, right on gold/commodities, and he is coming from a very fundamental point

I upvoted for this. I take Peter Schiff very seriously. He has been right on housing, right on gold/commodities, and he is coming from a very fundamental point of view. I have been a fan of the "Austrian School" of Economics (Mises/Hayek/Rothbard) also known as the libertarian school, which is where people like Schiff come from. Do yourself a favor, and read up about it before you dismiss all of that as pointless doom and gloom. Ultimately it all comes down to the mindset change that has happened in America (and many other countries) over the past 15-20 years. Debt has become very fashionable, and large segments of the population have unwittingly become debt slaves. The ultimate root cause is Federal Reserve monetary policy (find out why). Credit bubbles do not end well.

davidw 18y ago
Please don't. This site isn't about economics, or politics for that matter. If you want to discuss extremist economics (or any economics not strictly related to startups, for that matter), reddit would work out better, between the "Austrian" types (of which there are none here in Austria, but plenty there), and the far-left types.
gscott 18y ago
The problem is the people who don't see this guy is dead on right. The Fed is trying to get more money out into the economy but debt is eating it up before it can do any good. Now they are going to try raising interest rates to get more outside investment but were messed up by the EU also announcing there own interest rates may rise.