If there's any economic collapse, it will be the final result of socioeconomic policies instigated by woke leftism. Here's the bottom line: A society can have equality or quality, but it can't have both.
The concept of equality should never be used for personal or societal interrelationships. For at least 200 years, such attempts have been causing nothing but misery and destruction. When applied to people, equality is an evil lie. Instead, a well functioning society should be concerned with reciprocity, mobility, meritocracy, consistency, accessibility, subsidiarity, and complementarity.
Words have implicit contexts. You don't use the word 'sexy' when talking about farm animals. In the same way, you shouldn't use the word 'equality' when talking about people. Equality is a theoretical concept that has meaning only in the context of math and physics. But today we have people that deliberately misuse words by shifting their effective context, especially 'equality'. These people are woke leftists, and all of them are insane. If you believe equality is morality, then you're insane, too, and you can blame the current societal dystopia and coming collapse on your own mistaken beliefs, all of which have consequences.
Insightful commentary there mr Shit , obviously one of the few remaining marxist dinosaurs, even the marxists (russia and china) gave up on marxist economics- read a fucking history book
Irrelevant as the law is an ass and what a woke judge thinks is equality clearly isn’t. Their idea of “equality” is actively discriminating against “evil white men” to make whatever oppressed minority is flavour of the month more “equal”, which as the author of this piece points out is impossible as most of the members of these “oppressed minorities” are oppressed , more than anything else by their own stupidity.
Making stupid people equal means everyone has to be equally stupid. Read Orwell’s Animal Farm , we are living on that farm and instead of being “firmly convinced” try thinking instead.
This BS "we need to cut Medicare, Social Security" – yes, we need to cut defense spending, but basic human needs should not be sacrificed in order to fix the problems caused by the financial predators. I will not pay any further attention to Mr. Schiff.
It’s an open question whether American people still have the grit to endure what is needed to correct over a century of financialisation of their economy and the corresponding hollowing out of their industrial base (not to mention the equally treasonous destruction of culture, religion, and morality).
The rich and greedy follow the money and markets, where they squeeze what they can for themselves. They are not nationalists. They are concerned about profits, not people, and that includes us. They will find a way to continue to extract from us as they do business all over the world, particularly Asia and the Mideast. A tariff is a tax. The corrupt write the laws to their benefit. They hold the power. Nothing changes until the people learn and respond appropriately. Until then, we are their slaves. The Trump's are clearly globalist. Biden, Obama, the Clintons, the Bushes, Koch's, Dupont's Rockefeller's, DuBois, on and on, all globalists whom we've let rule us and try to rule the world. We should be so lucky as to see them leave and take their stink with them.
Dont think there will be economic collapse, that is alarmist talk. There will be major financial corrections. Tariffs are great for USA trade deficit but little else. Inflation will increase, short term unemployment but more investment and less reserves in US$. The added problem is less tax take from DOGE and corporate tax and reserve cannot reduce interest rates to compensate because that means more inflation and less foreign currency holdings. The real issue is if the credit bubble bursts with tariffs on top then the house of card falls. When banks go bust we know whats about to happen - until then its blah
Yes and on this holiday of Passover, celebrating the Israelites who were Pharoah’s slaves, we might ask what will be our equivalent now to the Pharaoh having “ had it” with the plagues God rained down on Egypt, on the last one, death of firstborns ,” that caused him to cry uncle and let the Israelites
Go? We dont have the luxury of God’s helping with plagues but What can WE do to make him “ cry uncle” so to speak.
Maybe a clue is in what happened with the bond market last week scaring everyone that China and Japan, the chief holders of our treasuries, how we pay our debt, could retaliate by selling our treasuries so we have no money, our dollar further plummets in value and the interest rates on our debt skyrockets And by the way this will cause financial disaster- recession if not depression. So he announced a pause - we need to think about this and figure out how to create this Kind of pressure on him in other areas.. law firms, academic institutions need to grow a pair band together in solidarity and fightback say no way will you bully us, fight in the courts , humiliate the SOB. Let's think hard on this together.
All I can hear from Schiff's words is fear of unknown (to him). Everything else said seems to stem from this fear.
.
It is self-contradictory claim he made that Chinese flooding EU with cheap product (originally destined for US) will be good for EU economy. Better for consumer, short term, for sure. Flooding with less expensive comparable product is a nightmare for EU, hence their tariffs on chinese bEV's.
You can’t say that the US’ response to the trade deficit is that she prints money. So Mr. Schiff’s other assessments consequently loose credibility and I stopped listening. What the the Federal Reserve does is adjusting the monetary base to cause the interest rate to stay at a predetermined level. Yes, the Federal Reserve can increase liquidity by buying treasury bonds but - again - that’s done in order to keep the interest rate at a predetermined level. If the purchases by the federal reserve had been excessive, the dollar exchange rate would have been low, but as of now it isn’t. One possibility is that Mr. Schiff confuses the trade deficit with the government deficit.
I would add only that the people really affected but higher priced imports will be the Mercedes drivers, the French wine drinkers, etc. In other words the governing elite and not the heartland inhabotants who put Trump in the WH. Most don't want to recognize that there is NO left anymore. The world is divided beween the nationalists in the heartland and the glo
I agree with everything Peter Schiff had to say. - Quite a while ago, along with getting a degree in geology, I minored in economics. And while I’m far from an expert when it comes to macroeconomics, a long time ago I made a realization and analogy that I think is relevant to the discussion at hand. The analogy I made is the fact that “Florida is to the United States as the United States is to the world”. In other words, Florida is a nice place. The government is stable. Wealthy people tend to invest there. The economy in Florida is mostly based on services. For the most part there isn’t much manufacturing in Florida. But despite that the economy does well. And as a result of the economy doing well the Floridian government is able to collect enough taxes in order to provide all of the things (goods and services) that are needed to keep the system running. It’s true that since Florida doesn’t export goods to other places that over time theoretically they would tend to become less rich and prosperous than those places that export goods that otherwise have the same types of economic conditions. And it’s also generally true that manufacturing jobs tend to pay more than service jobs. But despite those general tendencies the economy can do remarkably well if the velocity of money flow is at a relatively high rate. All of these things are true of the US in its relationship to the world and the world’s economy. So - Florida is to the United States as the United States is to the world when it comes to their economies. SO…. So policy makers have to be careful when making drastic changes to tax policies because it can have the effect of increasing uncertainty and decreasing the velocity of the money flow. That in turn can “tip over the apple cart” and cause a recession. And then it becomes a self fulfilling prophecy in reverse… The bigger picture is as I explain in my “course”, if we as a species were smart we would be striving to make our economies vibrant while decreasing the amount to which we are shitting in our own nests.
If there's any economic collapse, it will be the final result of socioeconomic policies instigated by woke leftism. Here's the bottom line: A society can have equality or quality, but it can't have both.
The concept of equality should never be used for personal or societal interrelationships. For at least 200 years, such attempts have been causing nothing but misery and destruction. When applied to people, equality is an evil lie. Instead, a well functioning society should be concerned with reciprocity, mobility, meritocracy, consistency, accessibility, subsidiarity, and complementarity.
Words have implicit contexts. You don't use the word 'sexy' when talking about farm animals. In the same way, you shouldn't use the word 'equality' when talking about people. Equality is a theoretical concept that has meaning only in the context of math and physics. But today we have people that deliberately misuse words by shifting their effective context, especially 'equality'. These people are woke leftists, and all of them are insane. If you believe equality is morality, then you're insane, too, and you can blame the current societal dystopia and coming collapse on your own mistaken beliefs, all of which have consequences.
Spoken like a clueless right wing drone. You know nothing, its hilarious. How about read economics, in particular Karl Marx
Yes, please educate me, a survivor from a Communist regime, about Carl Marx
Insightful commentary there mr Shit , obviously one of the few remaining marxist dinosaurs, even the marxists (russia and china) gave up on marxist economics- read a fucking history book
Well said
I’m quite convinced equality is an essential concept for the proper administration of law.
Something of a glaring omission.
Irrelevant as the law is an ass and what a woke judge thinks is equality clearly isn’t. Their idea of “equality” is actively discriminating against “evil white men” to make whatever oppressed minority is flavour of the month more “equal”, which as the author of this piece points out is impossible as most of the members of these “oppressed minorities” are oppressed , more than anything else by their own stupidity.
Making stupid people equal means everyone has to be equally stupid. Read Orwell’s Animal Farm , we are living on that farm and instead of being “firmly convinced” try thinking instead.
Written like a true dead soul deep state tool with a mission to promote division among the people.
There will be no economic collapse, there will be a long awaited correction and a definancialization of the economy, long overdue.
Sure about that are we? There is no such certainty in these times, stop kidding yourself.
Very few people are relying on financial market to make a living.
This BS "we need to cut Medicare, Social Security" – yes, we need to cut defense spending, but basic human needs should not be sacrificed in order to fix the problems caused by the financial predators. I will not pay any further attention to Mr. Schiff.
It’s an open question whether American people still have the grit to endure what is needed to correct over a century of financialisation of their economy and the corresponding hollowing out of their industrial base (not to mention the equally treasonous destruction of culture, religion, and morality).
We’re about to find out.
The rich and greedy follow the money and markets, where they squeeze what they can for themselves. They are not nationalists. They are concerned about profits, not people, and that includes us. They will find a way to continue to extract from us as they do business all over the world, particularly Asia and the Mideast. A tariff is a tax. The corrupt write the laws to their benefit. They hold the power. Nothing changes until the people learn and respond appropriately. Until then, we are their slaves. The Trump's are clearly globalist. Biden, Obama, the Clintons, the Bushes, Koch's, Dupont's Rockefeller's, DuBois, on and on, all globalists whom we've let rule us and try to rule the world. We should be so lucky as to see them leave and take their stink with them.
Dont think there will be economic collapse, that is alarmist talk. There will be major financial corrections. Tariffs are great for USA trade deficit but little else. Inflation will increase, short term unemployment but more investment and less reserves in US$. The added problem is less tax take from DOGE and corporate tax and reserve cannot reduce interest rates to compensate because that means more inflation and less foreign currency holdings. The real issue is if the credit bubble bursts with tariffs on top then the house of card falls. When banks go bust we know whats about to happen - until then its blah
Yes and on this holiday of Passover, celebrating the Israelites who were Pharoah’s slaves, we might ask what will be our equivalent now to the Pharaoh having “ had it” with the plagues God rained down on Egypt, on the last one, death of firstborns ,” that caused him to cry uncle and let the Israelites
Go? We dont have the luxury of God’s helping with plagues but What can WE do to make him “ cry uncle” so to speak.
Maybe a clue is in what happened with the bond market last week scaring everyone that China and Japan, the chief holders of our treasuries, how we pay our debt, could retaliate by selling our treasuries so we have no money, our dollar further plummets in value and the interest rates on our debt skyrockets And by the way this will cause financial disaster- recession if not depression. So he announced a pause - we need to think about this and figure out how to create this Kind of pressure on him in other areas.. law firms, academic institutions need to grow a pair band together in solidarity and fightback say no way will you bully us, fight in the courts , humiliate the SOB. Let's think hard on this together.
All I can hear from Schiff's words is fear of unknown (to him). Everything else said seems to stem from this fear.
.
It is self-contradictory claim he made that Chinese flooding EU with cheap product (originally destined for US) will be good for EU economy. Better for consumer, short term, for sure. Flooding with less expensive comparable product is a nightmare for EU, hence their tariffs on chinese bEV's.
You can’t say that the US’ response to the trade deficit is that she prints money. So Mr. Schiff’s other assessments consequently loose credibility and I stopped listening. What the the Federal Reserve does is adjusting the monetary base to cause the interest rate to stay at a predetermined level. Yes, the Federal Reserve can increase liquidity by buying treasury bonds but - again - that’s done in order to keep the interest rate at a predetermined level. If the purchases by the federal reserve had been excessive, the dollar exchange rate would have been low, but as of now it isn’t. One possibility is that Mr. Schiff confuses the trade deficit with the government deficit.
I would add only that the people really affected but higher priced imports will be the Mercedes drivers, the French wine drinkers, etc. In other words the governing elite and not the heartland inhabotants who put Trump in the WH. Most don't want to recognize that there is NO left anymore. The world is divided beween the nationalists in the heartland and the glo
balist neo cons.
Donald Trump being in charge of making major tax policy changes is like having a used car salesman doing brain surgery.
In either event it’s not going to be good for the patient.
Hello? His advisors decide the policies, he is only the orange mouth piece. For example his economic advisors are the like of Nordquist https://www.cnbc.com/2025/01/17/trump-economic-policy-team.html
I agree with everything Peter Schiff had to say. - Quite a while ago, along with getting a degree in geology, I minored in economics. And while I’m far from an expert when it comes to macroeconomics, a long time ago I made a realization and analogy that I think is relevant to the discussion at hand. The analogy I made is the fact that “Florida is to the United States as the United States is to the world”. In other words, Florida is a nice place. The government is stable. Wealthy people tend to invest there. The economy in Florida is mostly based on services. For the most part there isn’t much manufacturing in Florida. But despite that the economy does well. And as a result of the economy doing well the Floridian government is able to collect enough taxes in order to provide all of the things (goods and services) that are needed to keep the system running. It’s true that since Florida doesn’t export goods to other places that over time theoretically they would tend to become less rich and prosperous than those places that export goods that otherwise have the same types of economic conditions. And it’s also generally true that manufacturing jobs tend to pay more than service jobs. But despite those general tendencies the economy can do remarkably well if the velocity of money flow is at a relatively high rate. All of these things are true of the US in its relationship to the world and the world’s economy. So - Florida is to the United States as the United States is to the world when it comes to their economies. SO…. So policy makers have to be careful when making drastic changes to tax policies because it can have the effect of increasing uncertainty and decreasing the velocity of the money flow. That in turn can “tip over the apple cart” and cause a recession. And then it becomes a self fulfilling prophecy in reverse… The bigger picture is as I explain in my “course”, if we as a species were smart we would be striving to make our economies vibrant while decreasing the amount to which we are shitting in our own nests.