Wednesday, February 25, 2009

Peter Schiff on Obama's speech: 'A total lack of understanding of basic economics'

Via Doug Mataconis:

"This is all a bunch of nonsense," Schiff says. By which he means: It Won't Work.


  1. Embrace the suck.
    No Spring until after this Winter; what Hayek can't teach, let cold and hunger do.

  2. Schiff sounds plausible to me.
    But there are some who say that the world cannot help but continue to buy American debt. They also say that the recent massive destruction of wealth is so deflationary that we do not need to fear inflation, especially since much of the new money created so far is not "monetized". At least that is how I understood them. Frankly, I do not know enough to understand a word of it. Do any of you know this line of argument?

  3. This is an excellent video! Thank you so much for sharing it on your blog. I'm going to hat tip ya!

  4. I pointed to Peter last year when I began blogging. Only one thing left to say to congress:

    No soup for you!