Economic crisis - analogies video

[ElanJo]

A compilation video of Peter Schiff's analogies concerning the economic crisis:

<a class="postlink" href="http://uk.youtube.com/watch?v=vweLBpE4mso" onclick="window.open(this.href);return false;">http://uk.youtube.com/watch?v=vweLBpE4mso</a>

He lays down the causes of the crisis in easy to understand, and often humourous, terms. I'd recommend looking up his more indepth analysis, and predictions (he predicted this mess way back in 2006), concerning the economy.

 

[Swales lives]

A compilation video of Peter Schiff's analogies concerning the economic crisis:

<a class="postlink" href="http://uk.youtube.com/watch?v=vweLBpE4mso" onclick="window.open(this.href);return false;">http://uk.youtube.com/watch?v=vweLBpE4mso</a>

He lays down the causes of the crisis in easy to understand, and often humourous, terms. I'd recommend looking up his more indepth analysis, and predictions (he predicted this mess way back in 2006), concerning the economy.

Excellent, love the thought of America being the heroin dealer to its own people.
It just a shame that we've followed the same business model.

 

[Corky]

He has not a clue.

If the more people save the worse the economic decline. 7% saving is okay, 9% could be a disater, that is why the 2.5% VAT reduction doesn't seem much but could be crucial.

 

[ElanJo]

He has not a clue.

If the more people save the worse the economic decline. 7% saving is okay, 9% could be a disater, that is why the 2.5% VAT reduction doesn't seem much but could be crucial.

Erm, yes, its called a recession. It's what happens when you have to change from a service based economy to an production based one. If you have a productive economy , saving is beneficial. Service based economy's are not sustainable, it equals debt - mountains of it - which eventually starts to collapse (see today)

 

[Corky]

He has not a clue.

If the more people save the worse the economic decline. 7% saving is okay, 9% could be a disater, that is why the 2.5% VAT reduction doesn't seem much but could be crucial.

Erm, yes, its called a recession. It's what happens when you have to change from a service based economy to an production based one. If you have a productive economy , saving is beneficial. Service based economy's are not sustainable, it equals debt - mountains of it - which eventually starts to collapse (see today)

That has not happened.

Saving will only make it last longer.

 

[ElanJo]

He has not a clue.

If the more people save the worse the economic decline. 7% saving is okay, 9% could be a disater, that is why the 2.5% VAT reduction doesn't seem much but could be crucial.

Erm, yes, its called a recession. It's what happens when you have to change from a service based economy to an production based one. If you have a productive economy , saving is beneficial. Service based economy's are not sustainable, it equals debt - mountains of it - which eventually starts to collapse (see today)

That has not happened.

Saving will only make it last longer.

Aye, it hasn't happened because we are trying to prop up the service based economy.

(and by "we" I mean the West, because the problems started in the US)

Saving alone wont help anything - infact you are right it would hurt more - if government continues to prop up bad debt and business (which is prolonging the crisis - and potentially creating an even worse economic crisis... hyperinflation)