Peter Schiff Debates Two Socialists on Debt Ceiling
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- Опубліковано 7 вер 2024
- Peter Schiff of Euro Pacific Capital, Economist Steve Keen, and Professor Richard Wolff debate on the debt ceiling and the US #economy.
#Capitalism vs. #Socialism
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The voice of Truth, in a sea of printed money.
The golden nugget in a sea of tungsten
The US cannot afford to clear its debt but somehow they have enough money to fund multiple wars worldwide. The US economy is collapsing fast. Sell all your US dollars
@@blardymunggas6884 no different than how all past empires funded endless war and welfare by currency debasement that led to collapse. Same as ancient Greece, Rome, etc. That's why we have Gresham's Law.
@@utube7917 I guess that is how all great empire collapsed. China’s ideology is different to the west. The west suppress others to survive. China understands that if your neighbor is doing well then only they can do well too. You cannot expect to be safe if your neighbors house is on fire
@@blardymunggas6884 hence the debt traps china is laying everywhere while the west through capitalism is the very reason 100s of millions of Chinese are out of poverty.
“Government debt is good for capitalism” …oh my gawd... Peter’s jaw must have dropped to the floor.
It actually is! When government gives out "free" money to the plebs, they go out and buy new sneakers made by big capitalist companies in Third World countries....
Socialism is always about living on other people's money. What is government debt? Other peoples money. Government debt is bad for capitalism because it takes away money that could be invested to produce profits in a REAL growing economy.
@@anti-emo4721 No it is not. There's only so much money you can print without causing hyperinflation. You can print money and hand it out, but only so many sneakers to buy. The government doesn't have money, it has the people's money. It takes money from smart people and spends it on idiotic ideas. Value is destroyed while productive capacity diminishes. Government debt is not good for capitalism. Never was.
@@Boxedclock Bro! What even is "Real growing economy"!? If you're one of the people who benefit from more money printing, if you are in the top of that "money food chain" it's very real economy for you! You can buy a sick Lambo or a Yacht filled with women, you know!
@@Adrian-gs9er They're just going to take in more money through taxation, destroy it and, voilà! The status quo of money into the system will be leveled out!
This explains the diference between a "Professor" and an actual "Professional". One is experienced
in the "Theory"...the other in the "Practice".
Look at the practical guy , see Euro Pacific results ! LOL
@LVPAT666 the easy part is lecturing in a classroom and spewing…
@@lvpatfleming7465 wait for interest rates to spike them suddenly the government can’t pay the interest on its debt - gold would fucking fly. Peters not wrong about the end game, quite frankly everyone has been wrong about how long they could kick the can down the road but crypto will be the nail in the coffin.
@@vknight7497 what do you mean by that crypto statement?
The difference between practice and theory is bigger in practice than in theory.
"Clowns to the left of me, jokers to the right...". Peter stuck in the middle.
Yep,
Definitely this wrestling match is like Arnie., fighting against two.......armless men!@!?😝🤪😜😅
🤣🤣🤣
Peter has been wrong for the past 20yrs!🙄
@@danieldeblasio9368 he’s not been wrong about 2008….
@@ominousparallel3854 Even idiots can get it right with a thousand darts.
I am thankful that their are still people like Peter willing to keep the facts on the table.
People without a proper economic education have no chance against Peter. He tells the truth no matter who it makes feel bad.
The issue is Peter has experience and the other two just have education.
Because of the economic crisis and the rate of unemployment now is the best time to invest and make money 💯
Investing in crypto currency is one of the best chance of making money 💸
@@babatuanmacanchristian7196
Crypto is the future 🚀
@@yuvrajmakjhaj274
Buy gold and crypto
Live Footage: Two PHD professor's getting ran over.
Then Peter reversed!
lol so true!
Peter is that driver who ran over the push bike riders just straight through them lol
To be honest, I would not be surprised about economic professors getting schooled. They spend their whole life on the campuses giving lectures and ranting.
Peter shiff actually operates in the private sector economy and made his riches shorting the housing bust. Peter runs an investment firm. This is a debate between talkers vs a doer
Peter Schiff is the One Punch Man of economics.
....the correct punch.
Mama say knock you out! BOOOm! Yup, one punch.
Glad there is no economic issues here because the debts are only an accounting entry.
I will speak to my accountant Tuesday and see if he can make an accounting entry for me to make gas, food, and my mortgage a zero cost.
This is singlehandedly the best description of Peter's economic expertise.
@@good2goskee Unfortunately gas and food are not accounting entrees.
@@zinknot
Agreed.....
And neither is sovereign debt.
Wolff with two f's just shakes his head and laughs at Peter's facts. That's all he has. Nothing but bluster.
He laughs because he knows that the false narrative is behind him, being teached to whomever is willing to listen, or being forced to listen to it through public education.
This is what you do when you're totally delusional. When you're dealing with an old socialist, meaning someone who has lived a lifetime and STILL hasn't learned that socialism is a fraud, then you know you're dealing with someone so stupid they choose to live in a delusional fantasy world.
Thats all anyone on the left has. Delusion. Theatre. The power of suggestion. And. People. Fall. For. It. Thats why talking logically to a leftist is like talking to a rock. Their minds dont work that way. Its fascinating. And horrifying.
@@saucyrossy3698 Their level of delusion is indeed horrifying. And it's why a meek Leftist college professor like Pol Pot can commit atrocities and kill millions once he has total power.
@@saucyrossy3698 😂 you guys are hilarious
They're are smart people on both sides
That narrow minded view is just embarrassing
Have a sensible debate over the issues not just label people
This guy literally goes on TV with a stack of dishes in the background and wires suspended by a coat hanger nailed to the wall.... hahahaha, i love this
I know, what poor image.
He’s making a mean stew in that
pressure cooker on the right.
🤣🤣🤣🤣
He's an Aussie. They'd don't really give a f*ck :) He's a smart guy too. I've played around with his Minsky code which models the consequences of various fiscal policies, so I'm not discounting him like most happily do.
The craziness is we have academics like Wolfe teaching in university
So many inversions in this reality.
And the Bible says that in the end of days, a man from the heavens will show up and say. I’ll be the government and I will feed and shelter all my people.
The real problem is greedy capitalists with no concern or accountability for all the people.
I asked Wolfe one time if he would owe me extra money if he paid me (a contractor) to build a nice deck, and then later sold his house for a premium because of my deck (the fruit of my labor). Apparently "exploitation" to socialists only applies to people they don't like, because Wolfe wasn't honest enough to answer my question. Classic sociopath.
Richard Wolff spent his entire life in academia. He never actually held a job outside of academia. His own parents fled to the US from Europe to escape Nazism.
Before watching….I already know Peters about to mop the floor with these Champagne Socialists
🤣🤣🤣 yep
Good sense just makes sense.
🤣🤣🤣
🤣🤣🤣🤣🤣
😂🤣😂🤣😂🤣😎👍
Everyone stand aside and let Peter talk. He’s one of the few that make any sense and he is correct right now…while it may not become evident until the near future, at which point, everyone else will be too late.
Lol a boomer! He can’t even understand the value of bitcoin!🤣😂🤣😂🤣😂
Steve Keen is USLES there is no such thing as endless borrowing (currency printing) without Hyperinflation.
@Chris Sky lol I’m sure you’re the bitcoin ignorant!😂😂😂
Wolf is a bitter old man, he has lived a full life and still knows nothing , that is an achivement by itself 🤣
It's not as great as the O'reilly report, where Oreilly ran a TV show for years with only half a brain!
@@CentrifugalSatzClock O'reilly not knowing how eb and flows work is still more brainy then Wolff who's basically the creationist of economics.
@@dimitriwillems8735 I totally agree with that!! Wolff is stupider but O'reilly is more evil and stupid. I've never heard Wolf say anything which was useful.
@@CentrifugalSatzClock More evil? Richard Wolff defended and made excuses for the horrors committed by the USSR, I only know O'reilly from that eb and flow nonsense, but did he did something as worse as defending a regime that killed over a hundred million people? Honest question
@@dimitriwillems8735 Please cite evidence that supports your claim that "Richard Wolff defended and made excuses for the horrors committed by the USSR."
Once again Peter hits the nail on the head and explains it exactly the way it is. 👍
"The issue is always the same: the government or the market. There is no third solution. " - Ludwig Von Mises
Thank you for having a huge pair, Peter. You're never afraid of being outnumbered to speak on behalf of those who believe in true freedom and real money.
Furthermore the government is often wrong; and the impact of government failure is much greater than market failure!
The market : nature doing what it does best. Reality in motion
The Government: full of buerocrats reacting to reality and solving “problems” with other people’s money to get elected to power to repeat the cycle and get rich
Third, fourth, fifth, sixth, how many solutions do you think there are?
There is only one solution in accordance with man's nature to think and achieve; "Laissez-Faire economics" and a good quick court system to keep people from screwing each other; pretty much like the USA was founded in the first place.
God I hate socialism
Me too! Talk about subscribing to the lowest common denominator theory of the human condition. Who are these idiots that believe that nonsense?
Marx always sounds like a child. “All of our problems are from greedy capitalists” at least Peter provides examples of his points.
Don't we all
@@aaronkelly3035 and what these guys don't know that is if we have a free market economy in capitalism the greedy people will get punishment
@Grant Goldberg It's also thou shalt not covet. Covetousness is the root of all socialist thought
We need socialists and capitalists having conversations where no one gets straw manned. This interview was a good thing.
Yeah. I was surprised. The only thing I disagree with that seems quite stupid, is to say if the government runs a surplus, then the private sector runs a deficit
@@userumbleandgettr4freespee501 I am like you , that was never taught in any school I attended.
RT is actually good.
Nah. This is a rare occurence. RT uses Wolf as their talking point economist. It's a russian controlled channel and they only bring up socialists for economic talks.
Peter is a very rare occurence on this channel.
@@pepsastomna7758 RT uses people who have different viewpoints than what is presented in the mainstream media. That's their whole strategy and why it's good.
Peter is right!! Stop spending!! Increase productivity!! Smaller government!!
The government is good, the private sector is bad! Crazy socialism.. Peter’teach the “professors” 👍🏻👏🏻💪🏻💪🏻
I find myself being unable to follow the debate of these socialists. Most of what they say does not stack up logically - yet they do not allow their dogma to be questioned
@@minorityofone1510 They’re like what would happen if scientists spent all their time building hypotheses and not conducting any experiments. They’ve completely isolated themselves from real world data.
Peter is right the socialist professor has Never lived in socialism like Cuba. Soviet Union before 1990 . Just telling stories.
@@rogerburn5132 learn to differentiate communist from socialism ffs …
@@sivi9741 I don't need to lurn I know communism (communis) and socialism (socialist) are the same things. Mean everything is state owned is just difrend words communism come from the world
(commune) that is group of people (publicly owned) it Marxist ideas that the government should be in charge of all means of production and some force is needed to be achieved according to Marx. 100 %
Socialism and communism is the same. Even Now in the Western countries you have some form of socialism (government hospitals
In Germany in UK and otherr) you have benefits (social security) people reserve money from the government all that is socialism not capitalism.
You solve a problem by creating a bigger one but you have to... what kind of reasoning is this? The house is on fire so we will destroy the neighbourhood to put it out, but you have to... what?
He made no sense.
This format is unwatchable. Incredibly complex topics reduced to 30 second sound bites. This is why podcasts are eating old media.
Atleast they are discussing it. Every other msm are cheering the fed basically.
@@plastifiedmetal5682 agreed
Exactly. Needs to be an hour long debate
the problem with podcasts is that everyone stays on their ecochambers
What a beautiful discussion! RT, bring them every month, please.
How can people not agree with Peter?!?!
He is spot on!!!
It’s like maxing out your credit card and asking for a higher credit limit
It’s like spending the money, then asking for a credit increase to pay for the stuff you already bought.
Providing the lender is confident that you can keep up with the repayments. If they're not, no increase on the limit. If they do, you'll most likely find yourself with a higher interest rate on your current card.
Cool seeing you here
@@wiser3754 and it’s not so much about the debt, but about what the debt will be spent on. Which is big government surveillance.
Again and again and again...
unfortunately, head-shaking is not an argument.
It is when someone is talking nonsense about government when capitalism is the problem
@@peterf08 government is ALWAYS the problem ... ALWAYS.
“Indefinitely, you keep using that word. I don’t think it means what you think it means”
Glad somebody would actually agree to debate Peter!
I love it when they laugh. History shows that the more they laugh at Peter, the higher the probability he is right.
You clearly don't know history as much as Wolff does. Watch what happens over the next few decades in America and take a renewed look at the previous. Peter's part of the problem and he can't bring himself to make the right choice.
Steve looks like he's been living with his mom is whole life and never had to pick up after himself.
Sloppy Steve lol
Why does this seem so accurate? Lmao
Imagine going on national TV like this! Get it together Steve.
Lmao 🤣 clean up your shit Steve!
The scissors on the chair...I'm dead. Dude is no match for Schiff. Neither one in fact, but him especially.
Just seeing Richard Wolff I know this will be comedy
Lol yep
Steve Keen is just as bad.
@@mattseaton5832 I thought Wolf was as moronic as it gets, but turns out RT found another level with this Aussie guy.
You can't debunk his arguments. Wolff explains things better than Schiff who just cries inflation every video.
Did you see him pitch his polished socialism theory on George gammon interview. It was really good. but a lie.
I agree with peter schiff, he explained very simply
Whoever is against Peter, is against common sense. Make common sense legal again!
You've had run of the place for the past 50 years and utterly failed. You've had a run of the place for the past 400 years and caused a lot of misery for others. Wolff knows what he's talking about and he's on the side of the poor and vulnerable. This fat cat elite is ultimately trying to save his own skin. That's what ideology is ultimately - the rationale we give ourselves to convince us our material condition is deserved. But you, unlike Schiff, are far less embedded in a mound of treasure and can make the right choice reflecting superior character.
It's scary we have professors like this
They’re probably broke and Peter’s a millionaire. Yeah I think I will follow Peter’s advice…
peter's net worth isn't that big lol
Agreed Peter’s worth between $50M-$100M - not too shabby…
@G Mc C gold is money. all fiat is just credit
I followed his advice and didn't do well. Bitcoin, the markets and real estate all up. He has been predicting the "real crash" for a long time now...Most of his short to medium term predictions could not have been worse. Still, at least he can explain the mistakes we are making and the likely consequences clearly.
Wow why don't you listen to Jeff Bezos ex wife, she has a load of money?
Don't argue with idiots Peter, they will bring you to their level and beat you with experience.
Only an idiot would think Mr. Wolff is an idiot. You don't have to agree with him but he is a very smart man.
@@tswierczek Lenin and Trotsky were smart too
@@tswierczek He's straight up Communist
@@thefarmersdaughter8235, Do you think our current economic system is acceptable? He's not a communist and I agree and like Peter, but let's be real, greedalism is failing this country. We are behind the rest of the world in almost everything that matters.
@@tswierczek then you don't understand a single thing peter has said
What’s the point of a debt ceiling if you can just change it lol
Good point.
They are even discussing to print a so called trillion dollar coin to pay their debt lol
The real name is Debt Target.
Its 100% symbolic
"ceiling" ? - Talk about mislabeled; it's not a ceiling, it's an ELEVATOR !
Thank god for Peter we need more people like him.
“Debt Ceiling”….. what a freaking joke! All the while they keep the printing press running at full speed😂🤣😂🤣😂🤣😂🤣😂🤣
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless" -Thomas Jefferson
Private banks once controled currency. If the states controls the currency, sooner or later the hard reset will be real. If politians controls the currency, them they control the cattle.
In competitive debating, you're supposed to be assigned a position randomly. Peter is cheating by always giving himself the correct position.
Haha
Cause he does!!!
😂😂😂
He's just right. The problem is we have never seen true capitalism at it's finest. You really are entitled to all of your paycheck, you don't owe me anything. I appreciate your courage to voice your opinion, I simply disagree.
The only thing that matters is the truth. Everything else is gibberish.
I can't *stand* Wolf. He doesn't even know math, let alone understand Free Economics.
And who is the Australian? He needs to fix his own guberment in Australia before he remarks on USA.
Keen (the Australian), is an MMT advocate. Same camp as Mosler and Kelton.
Socialists think they're worldly
The joke is on them when they figure it out. The problem is we have to suffer though it with them. What kills me inside is "we the people" ever let it get this far. I have to ask, is the war that will erupt internal or external?
@@simonlaw9234 Yeah that's where I first started hating him.
@@James-vj5hz Ah, another Keynesian. Thinks running an economy on citizen-loading debt is a good thing. LOL. When God was handing out brains, Wolff & Keen were apparently in the Hoofs line.
Calling Dr Wolf an economist is like calling Lizzo healthy
I have to give credit to the hosts who lead this conversation. Well done. I do hope they keep these two coming back on several times. With a little luck I think Peter will get one of these guys to come his way. That would be cool.
Rich are getting richer and the government loves it. More donor money for them. When you have $35,000 in a saving account and earning $14 a month, that's a problem.
Don't know about you but my bank fees are $15 a month, so saving is a net loss, even before considering inflation
@@S.Hoodie Ally Bank, no fee's
You don't need currency (dollars) in your Bank account on 0%interest rate just buy phisical Gold bullion in your possession
Confirmation bias is real. Peter must talk too much sense for these two.
Yeah, Wolff was saying over and over this cannot last and that whatever solution will be worse, but has no idea what that might be.
He talks himself in circles, basically agreeing with Peter, but has to use mental gymnastics to make what he has been teaching work. His words are an oral representation of square peg in a round hole.
@@traviswall1982 no he couldn't disagree with Peter more
He trying to insinuate that capitalism isn't the problem when it obviously is
@@peterf08 I am saying he is agreeing with Peter on the substances, except that only an idiot thinks this is Capitalism.
Capitalism requires free markets and our markets are regulated, thus they are NOT free, and cannot be Capitalistic.
Disagreeing with Peter on the LABEL is one thing, but the mechanics are the same. With priced increasing sharply and supply lines halted, government being involved is what got us here.
Always gotta have Wolf in there for cannon fodder
I think Wolf means well.... But the real world is harsh.
Watching Steve in his apartment I was thinking a Thai bar girl was going to pop out of the background at any moment.
Peter is wrong about one thing. He says the economy started going downhill when the government interfered in the economy and the Fed was created. However, the creation of the Fed itself was the private takeover of the government.
Private voters took over private enterprise.
He isn't wrong. The government's Federal Reserve Act allowed the Federal Reserve.
@@phightphan There were already traitors in the govt who let it happen and set in motion the takeover and occupation of our government.
Wow, that dude at the bottom is hereby crowned the "King of Psychobabble". 😂
Yes. His bottom line claim is that capitalism without credit is impossible. Anyone can borrow. What’s really tough is production.
Debate with an anti-American socialist. You’re not gonna get anywhere with that one. Might as well debate a log.
Most of this stuff goes over my head but it seems to me like the Wolfe guy admitted that Peter is right, the system is fragile and a kicking the can down the road or plugging each hole on the boat as it appears is the strategy Central Banks are using. That was comforting 😳
Yeah, it does seem like all three know this ship is going to hit an iceberg sooner or later. The problem is what will be blamed and how it get "solved" in the aftermath.
My guess is all the socialists/cronies will come in sprinting to the news and advocate for even more government intervention/MMT... unfortunately.
Wolf and Schiff agree there is a problem. They disagree on how to solve it.
Yeah the only thing they disagree on is that Wolfe thinks it's capitalism's fault and Peter thinks it's socialism's.
@@asdf3568 that is because each has a different definition for each and won’t stray from their definitions.
Thank you Mr.Schiff!
"Government surplus" I can't believe that guy said such a thing lol.
2 public sector professors vs a very wealthy business man and investor.. I wonder who has the greater grasp of real economics
😂😂 don't you remember 2008
@@peterf08 I remember. Peter wins!!
Steve Keen has a bean counters view of economics. He looks at accounting entries without accounting for the real world consequences of the misallocation of real resources it leads to.
And he conveniently ignores data that goes against his theories. The fact he tried to link govt debt and surplus to how well private enterprise does is insane to me. How did economies work before govt debt and surpluses existed Steve? What about cash only business that have nothing to do with govt Steve. That was the dumbest thing I’ve ever heard from an “economist”
@@weignerleigner3037 smh
This is a good comment. But he is right about private debt - it's a disaster in the making and guess where that debt ends up - at government via the banks failing. So government debt DOES matter.
@@AndyGraceMedia Government debt ≠ Private debt at private interest rates
Steve Keen is USLES he doesn't understand Anything how can government borrow (print currency) Endlessly he has Never heard of the Weimar Republic Hyperinflation in the 1920. Steve is idiot.
The federal reserve system owns it anyways, people are ignorant to the banking system, debt slavery is a problem
In the beginning of the 19 century Henry Ford has said (if people did understand finance and the Banks) there would be Revolusion. and he was right.
For the Federal Reserve blame the CORUPTED senators in the 1913 that gave the right to the Private Bank to print the Nation currency. Federal Reserve act.
@@rogerburn5132 sure did👏
" All fiat paper currencies eventually reach their true intrinsic value.......ZERO " VOLTAIRE
yup
Peter schiff was right 2.0
What happens when a real world business owner argues with professors insulated in their bubble.
So according to a couple of these guys on here the federal reserve and the government can just continue to print print print print currency and that Will not cause a problem? Wow
For them it's not a problem. Inflation grows govt, which is their objective
Correct our problem isn't the gov spending... even though for 90% of the average joes in USA that spending is exactly what has caused our purchasing power to sink to virtually nothing can u imagine at current rates in 20 more years of this the dollar will be worth...... less and less will cost 20-30 bucks for mcdonalds....
It's amazing how Richard Wolff simultaneously admits to government intervention attempts to solve issues as causing more and larger issues but then denying government intervention as being the problem. 🤦
Orwell warned us. Double speak all in one statement. God have mercy on all communists/socialists or whatever collectivist borg these people belong to.
wolff is a marxist economist, he thinks the capitalist organization of the economy is the issue, not government intervention. He would prefer a Keynesian approach to a laissez-faire one but believes both are problematic
@G Mc C Who warned about their model. Read 1984.
@G Mc C No he wasn't. In fact, the Communists tried to murder him in Spain. He fought fascism along side anarchists. Read his "Homage to Catalonia" or watch Ken Loach's remarkable adaptation, "Land and Freedom."
@@elijahrivera2858 China is the best example currently, and it has nothing to do with Marx or a Marxian view of socialism.
We need less government and more capitalism.
this reminds me so much of when Peter debated the housing crash in 2008 where the other people were laughing at him. it seems history will repeat itself.
The crash is because of the broken capitalist system reaching its death knell. Hiding in trivial evasions and technicalities will not bring you closer to the larger truth, nor will it do so for Peter. He's part of the problem.
Had to bring two guys just so Peter could have a laugh
Obviously something has gone badly wrong . Before we had 7% rates and cheap houses and low debt. NOW the world has zero rates, massive debt and high everything . This will crash badly of course but hopefully the scales will readjust..
Readjust when the same people in the same corrupted system are tasked with fixing it?
To save yourself in Hyperinflation buy phisical Gold and Silver bullion that is the only way.
It’s amazing how different schools if economics are so far apart that they can’t even agree on basic theory like how an economy works or what contributes to growth. Makes me feel like we know next to nothing
some do know nothing... and we allow them to drag us down, because we are compassionate and have morals.
gov and cental bankers know precisely what they are doing . economists ...not so much.
@@ppierodds lol...
What contributes to growth is productivity an production Not currency printing. By the Federal Reserve and Spending by the government without tax increase. That will bring Hyperinflation.
Pete - it’s been a while - took a hiatus. Glad to be back. Keep rocking and spitting the real facts #goodnightprofessors
Socialism, no incentive to work, work hard or invest! Best sitting on lounge with hand out like so many others. Peter Schiff 🙌
Disagree with peter on his bitcoin stance, but u gotta hand it to peter when it comes to economics!! Bravo peter 👏
Scan your BT Identifiers when you're in a crowd. Digital currency foundation has been laid. The body is the device and the jab is the enslavement. They won't be using BTC.
BTC is crap.
Soooo much better crypto tech out there.
Peter is not going to start bigging up Bitcoin when his whole business is in gold.
Bitcoin is crap. So is gold though.
Silver and half is dozen alt coins 👍 winner
@@robertrichards4930 Well it's not crap if it's worth over £40k. Yes it doesn't have the same utility as Ethereum, Solana etc but it's a store of value in many people's eyes hence the price.
Peter Schiff = real economics 📉 news💯
the price of everything is significantly higher over the past year--but precious metals are....down?
things that make you go "hmmm"
Way to put them in their place Peter. Those 2 are so clueless with ignorance. It’s shameful that those so called “economic professors” are allowed to fill the younger generation minds, over charging tuition, with their jibberish and mush and getting overpaid for their nonsense.
Look at the room of that "professor". This is hilarious. The dude still lives with his parents in his seventies? 🤣🤣🤣
Thank you Peter!
I spent too much and ran up my credit card and i keep spending more. What should i do professor? Answer from professor. Never mind common sense solutions this needs to be looked at and studied then I will blame capitalism.
I heard Wolfe self-describe himself once as a “Marxian.” It about made me vomit.
I don't think you actually know what that means...
@@mysterioanonymous3206: Please explain, then.
@@gregshock that's just an analytical framework looking at the economy in terms of class conflict, or call it diverging class interest. Labor vs capital. It's an analytical perspective so to speak, not an ideology per se. That's still market capitalism (although perhaps more or differently regulated), not communism or any of that stuff. People get that very wrong. So look at it in terms of social democracy in the European sense more so than neoliberalism. And that's that.
@@mysterioanonymous3206: Thank you. I will explore further.
No Marxist and what's a marxist anyway?
We all know Peter is right & it will come to pass!!!
Steve Keen has the best background for his video. A thermos, a scissor, and pile stuff on a chair.
Their tune is changing, gone are the days of hyperinflation being a "ridiculous" notion to "it could happen". I'm happy to be on the precious metals train early.
You're gonna get wiped out with your shiny rocks. Better start your deep dive into crypto education and buy bitcoin
Wolf: Government deficit is used as temporary solution to address an emergency economic situation, but the solution create another economic problem. A condensation of Wolf’s explanation: government repeatedly kicks the can down the road. Peter’s take: government can’t kick the can down the road forever- there is a day of reckoning. Keen’s hallucination: all government debt is good because that debt becomes a surplus to the private sector.
Dr Steve Keane must of gotten divorced recently. His bachelor pad is in a state. Haha. Good for him for not giving a shit.
I don't need to listen, just look at how healthy and intelligent Peter looks!
Today the US debt is costing each US citizen more than 1400 USD monthly each. If these two "professors" were right, lots of US citizens wouldn't need two or three jobs to survive.
Peter is truly amazing 👍🙌🙏🏽👊🏼He should be our next treasury secretary ⬆️👍🙌👊🏼🙏🏽☑️
How can anyone take Steven Keen seriously with an office in that condition?
Because he destroyed Schiff
5:02 The problem isn’t the debt ceiling, the problem is the debt!
Absolutely brilliant Peter Schiff - only an idiot will contradict that logic.
Peter you’re a legend. Stay true 🤜🏼🤛🏼
No one seems to realize that our economy is not a capitalist economy far from it. Without acknowledging that there’s no validity to any conversation on the topic.
“So is everyone wrong and Peter Schiff’s right?”
YES
Great job, Peter. You did a great job of making them say "more government, more government" when it's clear that's the problem.
Steve Keen a professor of economics living in a house where economics seems to not have taken hold. These MMT guys are bananas.
You were wrong before, and have no answer now save whatever will console your broken neoliberal vision. You've had run of the place for the past 50 years and utterly failed. You've had a run of the place for the past 400 years and caused a lot of misery for others. Wolff knows what he's talking about and he's on the side of the poor and vulnerable. This fat cat elite is ultimately trying to save his own skin. That's what ideology is ultimately - the rationale we give ourselves to convince us our material condition is deserved. But you, unlike Schiff, are far less embedded in a mound of treasure and can make the right choice reflecting superior character.
When I was younger I thought that Wolff made sense, but after listening to both sides of the argument Schiff definitely has hard facts backing him up and Wolff just says things that are meant to sound nice.
"Peter Schiff debates two socialists"
Steve Keen literally in this debate: "This is why capitalism works"
Definitely a socialist Peter!
According to his Wikipedia page, Keen is a "post-Keynesian" economist whose major influences include Karl Marx, the philosopher of communism, and John M. Keynes, who inspired Keynesian economics. These figures are both socialists that swayed mainstream economists in the wrong direction and compelled the need for government takeover of the private sector in times where the free market would provide the real fix.
The quote you took by Keen, at around 6:12, is not his support of capitalism, rather his false explanation of how it functions (he's against it, despite not accurately describing what it is). In fuller context, he said that "the way capitalism works" is by going deeper into debt, which is a mischaracterization of capitalism. As Schiff explains, raising the debt ceiling interferes with capitalism by diverting resources into public spending, undermines savings and dissipates the standard of living.
That one socialist does not appear to have done too well in life…might have something to do with his philosophy on economics, society, and life in general.
"The laws of economics don't care about your Keynesian feelings." - Peter Schiff
🤣
The market don’t care about Schiff bitcoin feelings!😂🤣😂
blue pill narrative vs red pill facts.
Exactly 💯.
“The problem isn’t the ceiling. The problem is the debt.”
A son turns to his father and says "dad, when I grow up I'm going to be a Marxist".
The father looks down at the son with love in his eyes, "Son, you can't do both".
Peter wins again.