News and Politics | December 11, 2008 | 7 comments

The Next Depression?

source: http://therealnews.com/t/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=2916

Vierotchka
With markets in free fall, economist Peter Schiff opposes stimulus and printing money to fund it.

As the economic crisis continues to deepen, many are wondering if this recession will turn into a depression. Unemployment is up, the dollar is down, and US markets have lost nearly half their share values over the past year. The Real News Network spoke to economist Peter Schiff.

Peter Schiff, president of Euro Pacific Capital is an American Austrian School economist. Schiff frequently appears as a guest on CNBC, Fox News, and Bloomberg Television and is quoted in major financial publications. He was an economic adviser for the Ron Paul campaign in the 2008 Republican Party primaries. Schiff is the author of Crash Proof and The Little Book of Bull Moves in Bear Markets.

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7 comments // The Next Depression?

  • stopnoise
    • 0
      stopnoise  

    • The most valuable asset in this economy it is the people. What about developing an economy that values life instead devaluing life. Today your life it is a debt instead being an investment to society and that it is the biggest mistake of all. Try instead to Invest in human power with strong and supported education that leads to the development of jobs.

      Someone somewhere it is deceiving here and I know it!

    • 3 years ago
  • kennymotown
    • 0
      kennymotown  

    • It's the end of capitalism as any alive today would recognize as capitalism. Tariff's and high taxes on the rich will get us back to a functional society were we can finally raise labor wages since labors wages have been stagnant for twenty years.

    • 3 years ago
  • honusurf
    • 0
      honusurf  
    • Image

    • Track the depression at intrade.com
      Chances for a depression went up a little today. Maybe it has to do with the Republicans Running us into the ground?

    • 3 years ago
  • pokesmot
  • PamelaSC
    • 0
      PamelaSC  

    • And AIG is giving out the bonuses this year - did you guys see that article?

      I'm with Schiff - hasn't anyone else wondered where the government all of a sudden got all this money to bail every Tom, Dick and Harry (except the everyday working man and homeowner) out of their problems? I know I do! I can't help thinking that if, for instance, the Big 3 were allowed to go down, then yes, there would be a temporary loss of jobs. But then other companies would fill the demand, and those workers would get on with them. Is that a simplistic view? Yeah, it's simplified. But the system has worked for over 200 years - the logic is still pretty solid.

    • 3 years ago
  • netstorm2k8
  • maasanova
    • 0
      maasanova  

    • Well two years ago my friends and family laughed at me when I told them about the collapse of the US economy. They are not laughing now; they are listening to everything I say.

    • 3 years ago
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