Jeremy
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Schiff vs. Union Guy from Progressive Progressing Progressive Progress Thing (11/20)
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Jeremy
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Real_CaGeD
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"Government is the problem CNN, NOW STFU!"
maqsur
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This Campbell Brown lady is damn annoying and rude. You have three pro-intervention people vs one pro-reality guy.
Every time Peter tries to make a point he gets interrupted. The other three are like, "but they are going to be decimated, starved, etc. etc. the sky is falling."
Yet, they think it's only fair to tax or take credit from others to pay for their group de jour. First it was mortgage owners, now auto workers, let's just bail everyone out.
I'm sure Zimbabwe is the ideal model for our economic future. After all, we can just print money, what could go wrong?
Every time Peter tries to make a point he gets interrupted. The other three are like, "but they are going to be decimated, starved, etc. etc. the sky is falling."
Yet, they think it's only fair to tax or take credit from others to pay for their group de jour. First it was mortgage owners, now auto workers, let's just bail everyone out.
I'm sure Zimbabwe is the ideal model for our economic future. After all, we can just print money, what could go wrong?
I was born and raised in Pittsburgh. Both my grandfathers worked in the steel mills. Pittsburgh was the steel capital of the world for more than a century until that all changed in the 80s.
I wish someone would pass the following info on to Schiff, because hearing about the BS about bailouts to save jobs gives me a headache, and the example of Pittsburgh and the steel industry is an easy answer to the pro-bailout BS slingers:
Once an industrial powerhouse, Pittsburgh’s manufacturing base was hit hard by the national decline of steel in the 1980s, losing over 100,000 jobs in steel alone from 1978 to 1983. Since then, however, smart investment and steady growth have largely restored the city’s economic health. Unemployment has declined sharply since 2003 and is well below the national average at around 4%. While the national economy has lost millions of jobs in 2008, the number of jobs in Pittsburgh has continued to increase modestly. The major engines of job growth in the Pittsburgh region are higher education and health care – the University of Pittsburgh, with its University Health Services, is the city’s largest employer.1
Added by Bosso: All with NO BAILOUTS!!!
Bosso
I wish someone would pass the following info on to Schiff, because hearing about the BS about bailouts to save jobs gives me a headache, and the example of Pittsburgh and the steel industry is an easy answer to the pro-bailout BS slingers:
Once an industrial powerhouse, Pittsburgh’s manufacturing base was hit hard by the national decline of steel in the 1980s, losing over 100,000 jobs in steel alone from 1978 to 1983. Since then, however, smart investment and steady growth have largely restored the city’s economic health. Unemployment has declined sharply since 2003 and is well below the national average at around 4%. While the national economy has lost millions of jobs in 2008, the number of jobs in Pittsburgh has continued to increase modestly. The major engines of job growth in the Pittsburgh region are higher education and health care – the University of Pittsburgh, with its University Health Services, is the city’s largest employer.1
Added by Bosso: All with NO BAILOUTS!!!
Bosso
jrskblx125
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see now lets think about it... if these people are so god damned worried about the starvation of midwestern cities why dont they do something about it? why dont they move out there and share their wealth. These people live in a place where they know for a fact that theyve got all of their eggs in one basket. its happened throughout history i mean i'm in Lowell Mass right now going to school. Once the mills went out of operation the city went to hell in a handbag. but guess what... ITS GETTING BETTER like peter says it SUCKS that theyre all losing jobs and what not but its not the be all end all of the city... decimation? give me a break if they dont like it they can move! if they had a brain they woulda known better not to build up debt like the majority of america does. people need to take responsibility for themselves and all of their actions and until that happens america is going to be a bunch of whiners looking for a handout. <end rant>
TastyWheat
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Theoretically speaking, how do we reach a bottom here? Auto industry goes down, people lose more jobs, less consumption, less market growth, more downsizing, more lost jobs, ... where's the rebound?
Brassmouth
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ClayTrainor
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Great video. I love watching these frantic pundits react when they are injected with a dose of reality.
A
Arklatex
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he's on bloomberg right now kickin ass - the other two are speechless
he's still on, the barclays manager who was supposed to counter argue didn't have a damn thing to say lol, schiff chewed him up and spit him out, they went to him for his counter and he didn't say a word - my gosh this is entertainment right here
he's still on, the barclays manager who was supposed to counter argue didn't have a damn thing to say lol, schiff chewed him up and spit him out, they went to him for his counter and he didn't say a word - my gosh this is entertainment right here
i need youtube!!!!
ClayTrainor
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Andrew Ryan
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What a bitch Campbell Brown is.
ihsv
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I know what you're saying, and it's a valid point. Losing GM would devastate our fragile economy, and start (continue) a downward spiral. But, a bottom will be reached at some point. We still have sectors of the economy that will survive and prosper in rough times. Some jobs are recession-proof. There's a bedrock of productivity down there somewhere, and I think Schiff is saying that we need to reach it before things can get truely better.
The government can make things better by printing money, but only for the short term. In the long term, that adds to the debt and drags down the dollar -- possibly towards collapse. There was a great Onion article before -- "Our real economy isn't enough, country awaits next phoney bubble." or something like that... that is what the pro-bailout people actually think, isn't that f-ed up? They want to re-inflate the bubble and get more good times, they think that whenever bad times pop up, they can just re-inflate and keep rolling. That is madness.
.
1000-points-of-fright
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What all the doom and gloomsters don't seem to realize is that GM going bankrupt does not mean everyone will be out of a job. Another company will buy it and hopefully run it better.
ClayTrainor
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