Peter Schiff: The difference between production and consumption

Mr Schiff has produced two YouTubes since we were last with him.

The first video, from the 26 of November, discusses the dollar and its ugly-lady contest with the euro, plus the peculiar United States shopping festival of Black Friday and what this credit-card-fuelled event says about the general level of American economic knowledge regarding the difference between production versus consumption:

The second video, from the 3rd of December, discusses the recent surge in gold, on its way towards the highly significant price of $1500 dollars an ounce.

In a move which will please the Mogambo Guru, Mr Schiff also discusses oil prices and the Zimbabwean madness of the Keynesian multiplier, where the US congress thinks that for every new dollar of unemployment benefit printed and handed out in its largesse, two dollars of economic growth will be created from the firmament of Keynesian wonderment.  Schiff asks the obvious question; if this was the case, why doesn’t the congress just give everyone unemployment benefit, and lots of it, to really get the party going:

1 Comment

  • mark fowler says:

    I know Mr Schiff gets some bad press for vested interests, however it seems to me he can make a living telling the truth.

    I cannot disagree with anything the man says.

    I dont know but I find it hard to see Europe as a better bet, if the USA go down so does Europe and the UK is my bet.

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