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Peter Schiff Was Right Part Deux: The Taper Edition


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2013 Sep 25, 12:49pm   38,546 views  155 comments

by mell   ➕follow (10)   💰tip   ignore  

http://www.zerohedge.com/news/2013-09-25/peter-schiff-was-right-part-deux-%E2%80%9Ctaper%E2%80%9D-edition

It consists of various clips of Mr. Schiff being prescient about the financial condition of the U.S., as talking heads on various financial shows mock him and laugh in his face. Well, the Peter Schiff Was Right Video Part Deux is now out and I expect this one to go viral as well.

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81   mell   2013 Sep 26, 3:19pm  

Man, given these "eruptions" I can't wait to post 'Peter Schiff Was Right Part Trois!

82   upisdown   2013 Sep 26, 3:51pm  

upisdown says

So, let me see if I am getting the BS point that you're trying to make. In
one of THE most densely populated states, and YOU claim that it IS a densely
populated area, that you say there is NO nat gas available, just propane and
electric?

Well?????

83   upisdown   2013 Sep 26, 3:55pm  

Call it Crazy says

Another FYI for the clueless.... I live in a very populated area of NJ and
guess what??? There are huge sections of the county that DON'T have natural gas
anywhere nearby....

Well, are you still backpedaling?

84   bob2356   2013 Sep 26, 9:16pm  

upisdown says

Look it up in an atlas, there's only ONE Egg Harbor, at least in mine.

https://maps.google.co.nz/maps?client=ubuntu&channel=fs&oe=utf-8&q=egg+harbor+township+nj&ie=UTF-8&hq=&hnear=0x89c0c2bad0107995:0x902b4c3628d7ad4d,Egg+Harbor+Township,+NJ,+USA&gl=nz&ei=ll5FUufpE4eWiQfH-IHgCg&ved=0CLwBELYD

Try an atlas that has the US next time. See the top Little Egg Harbor township. See the bottom Egg Harbor township. Look left Egg Harbor city. Look upper right, the blue stuff between Little Egg Harbor township and Beach Haven is called water. That's Little Egg Harbor itself, part of the Barnaget Bay. The blue stuff (also water) below Lakes Bay (home base for my good friend Jim Karabasz's Extreme Windsurfing operation, please patronize) between between Somers Point and Ocean City is Great Egg Harbor which is fed by the Great Egg Harbor river. I was one of the people who pioneered windsurfing in all that blue stuff you see between Cape May and Sandy Hook back in the day (shortly after dinosaurs stopped roaming the earth). I know where all the Egg Harbors are.

For history buffs Egg Harbor township was first occupied by the Lenni Lenapi indians. First explored by some dutchman (jackson, jimson? I don't remember the name) who called it Eiren Haven (Egg Harbor) because there were so many eggs laying around. The english settled it and called it New Wenmouth (or something like that), then Great Egg Harbor township, then just Egg Harbor Township. Not bad,other than spelling, from memory of lessons learned long ago, eh? Want to learn about south jersey ghost towns like ong's hat, atsion, or buckingham next?

85   bob2356   2013 Sep 26, 9:27pm  

Call it Crazy says

That's your best part!!! That Whiting is a scary area.. unless you like old ladies without teeth...

Oh, and No, I'm NOT a "piney".....

I'm sure you parents will be greatly relieved knowing that. Honest officer its not what it looks like. I was just helping the sheep get over the fence and my pants fell down.

Yea the most dangerous stretch of road in the world is Rt 70 between Brick and Lakehurst after all the seniors have their 9 martini lunch. You'd be much safer driving in Somolia flying a fuck islam banner on your antenna.

86   upisdown   2013 Sep 27, 12:52am  

bob2356 says

upisdown
says



Look it up in an atlas, there's only ONE Egg Harbor, at least in mine.


https://maps.google.co.nz/maps?client=ubuntu&channel=fs&oe=utf-8&q=egg+harbor+township+nj&ie=UTF-8&hq=&hnear=0x89c0c2bad0107995:0x902b4c3628d7ad4d,Egg+Harbor+Township,+NJ,+USA&gl=nz&ei=ll5FUufpE4eWiQfH-IHgCg&ved=0CLwBELYD

Can you even read and comprehend a thing? I said an atlas, you reply to try an American atlas, and then you look it up through google. Pathetic.

I looked up Egg Harbor in a 2009 Rand McNally atlas, and there's only ONE Egg Harbor listed, which is directly below the Wharton State Forest, so if there really are others(same town name in the same state?)why aren't they listed unless they're too small???

87   upisdown   2013 Sep 27, 12:58am  

Call it Crazy says

upisdown
says



YOU claim that it IS a densely

populated area, that you say there is
NO nat gas available, just propane and

electric?


CIC
says



There are huge sections of the county that DON'T have natural gas


I'm just trying to figure out how you get "NO" nat gas from my statement of
"huge sections".....

I see, you're going to keep the indefininate circle-jerk going to try and save face, and keep jerking my chain hoping that I'll just go away, and that frustrating me will somehow make you look like anything other than the moron that you are.

Got it. What'd I expect from you anyway, considering some of the posts that you put up? I sure hope that "blogging" thing works out for ya.

88   upisdown   2013 Sep 27, 2:59am  

Call it Crazy says


Call it
Crazy says



Some people think a 100x100 lot is rural, some others think a 100 acre ranch
is rural. It means different things to different people..


So, what's yours???


The same with "densely populated"... I'm sure mine's different then yours. I
can't answer until I know your point of reference and what you're use
to...


Now, see if you can answer them......


Really, Are these two questions that difficult for you to answer????

And yet you still have NOT answered my question, that preceded yours quite a bit. Your obtuse game of rope-a-dope is getting old.

But, here's the question again:

So, let me see if I am getting the BS point that you're trying to make. In one of THE most densely populated states, and YOU claim that it IS a densely populated area, that you say there is NO nat gas available, just propane and electric?

Are you ever going to answer the question above or just continue with your childish games and BS routine? FYI, Iasked that question in post #173, and you went into your default BS mode and tried to answer a question with a question starting in post #195

89   freak80   2013 Sep 27, 3:12am  

Peter Schiff was wrong. A loaf of bread is not $50.

"The Price is Wrong, bitch!" -- Bob Barker fighting Adam Sandler

90   mell   2013 Sep 27, 3:14am  

StillLooking says

Corzine broke the law. And if nobody broke any laws, which is not true, the laws themselves are an example of crony capitalism.

Yep. Plenty of bankstas broke the law as well selling "super-safe" investments while boasting in emails how they got rid of this "crap" => clear fraud.

StillLooking says

And the bailouts have been paid back in debased dollars. So they have not been paid back. Lend me 700 billion dollars. I would have no trouble paying you back in a year with their nonsense interest payment and keep a nice little stash for myself.

Exactly.

StillLooking says

Also they bailed out AIG and Fannie and Freddie and all the others. This is why the FED is debasing the currency so the crooks can pay back everything in debased money.

Yep.

91   indigenous   2013 Sep 27, 4:09am  

dodgerfanjohn says

they can in fact be dealt with by democratically elected leaders such as happened during Teddy Roosevelt's presidency.

Teddy Roosevelt started the anti trust yup, but the truth is there is no such thing as a monopoly other than one mandated by government.

So Teddy saved us from the terrible robber barons. Who created a higher standard of living for the American people and the world than at any other time. You know things like giving us the ability to read at night, build things out of steel which allowed taller buildings, move around with cars instead of horses. Yes what good a boy Teddy was....

92   mell   2013 Sep 27, 4:23am  

StillLooking says

What again is your story for the financial collapse in '08? Is it because the FED kept interest rates too low for too long? We are doing the same things now but on steroids.

Yes, pretty much.

93   Bellingham Bill   2013 Sep 27, 6:23am  

StillLooking says

How is making fraud legal not crony capitalism?

"crony capitalism" is a "thought-terminating cliche" that obscures more than it explains.

Is our $2T/yr real estate sector "crony capitalism"?

is health sector "crony capitalism"?

is our import-dependent economy "crony capitalism"?

is the $800B/yr we flush away in "defense" "crony capitalism"?

is the giveaways of public land and the commons to agriculture and energy "crony capitalism"?

is big finance "crony capitalism"?

Shit, half our economy if not more is "crony capitalism". No wonder things are so fucked; we're about as bad off as Russia was ca. 1980.

94   bob2356   2013 Sep 27, 6:47am  

upisdown says

an you even read and comprehend a thing? I said an atlas, you reply to try an American atlas, and then you look it up through google. Pathetic.

I looked up Egg Harbor in a 2009 Rand McNally atlas, and there's only ONE Egg Harbor listed, which is directly below the Wharton State Forest, so if there really are others(same town name in the same state?)why aren't they listed unless they're too small???

Sorry I really don't remember the last time I used a paper map or atlas. How quaint, very old school, Here's Rand Mcnally's driving directions from Egg Harbor township to Egg Harbor City and then driving directions from Egg Harbor township to Little Egg Harbor township. Perhaps you need to check you eyeglass prescription. Was that RM 2009 or RM 1809 you were looking at? I may not comprehend much, but I do remember the names of places I've been, even the ones I haven't been to in well over 20 years.

http://maps.randmcnally.com/#s=screen&lat=39.11339950561523&lon=-94.62660217285156&zoom=9&loc1=Egg%20Harbor%20Township%2C%20NJ&loc2=Egg%20Harbor%20City%2C%20NJ&loc3=&loc4=&loc5=&loc6=&loc7=&loc8=&loc9=&loc10=
http://maps.randmcnally.com/#s=screen&lat=39.11339950561523&lon=-94.62660217285156&zoom=10&loc1=Egg%20Harbor%20Township%2C%20NJ&loc2=Little%20Egg%20Harbor%20Twp%2C%20NJ&loc3=&loc4=&loc5=&loc6=&loc7=&loc8=&loc9=&loc10=

same town name in the same state?

Too complex a thought for you to grasp? With 565 (insanity, but that's a different discussion) governments NJ has quite a number of duplicate names. There are lots of towns and townships with the same name and there are some just plain old dups. I know there are something like 4-5 Washington and Franklin Townships and 2 Fairfields all in different parts of the state. There are more to be had if I wanted to bother to look it up.

95   freak80   2013 Sep 27, 1:03pm  

Bellingham Bill says

is health sector "crony capitalism"?

Yes.

Bellingham Bill says

is the $800B/yr we flush away in "defense" "crony capitalism"?

Yes.
Bellingham Bill says

is big finance "crony capitalism"?

Yes.

Bellingham Bill says

Shit, half our economy if not more is "crony capitalism".

Only half??

96   Bellingham Bill   2013 Sep 27, 3:26pm  

yeah, I totally missed another sector of course, telecommunications.

Cable, cell phone, that's "crony capitalism" too.

http://research.stlouisfed.org/fred2/graph/?id=CP

I'm feeling like http://en.wikipedia.org/wiki/Diogenes_of_Sinope here.

97   Bellingham Bill   2013 Sep 27, 3:30pm  

wow I had no idea Cynicism lead to Stoicism.

that, actually, makes sense.

98   indigenous   2013 Sep 27, 3:34pm  

Bellingham Bill says

I'm feeling like

You are no Diogenes, you and your ilk don't have the virtue to look.

99   Bellingham Bill   2013 Sep 27, 3:58pm  

Wow, playing the man and not the ball.

Stay classy.

100   indigenous   2013 Sep 27, 4:21pm  

Bellingham Bill says

Wow, playing the man and not the ball.

Stay classy

Actually playing the actions, a Diogenes trick

101   upisdown   2013 Sep 28, 12:28am  

bob2356 says

Here's Rand Mcnally's driving directions from Egg Harbor township to Egg Harbor
City and then driving directions from Egg Harbor township to Little Egg Harbor
township

Just as I thought, and you just confirmed, a township is NOT an actual town, or even the name of a town.

Is it?

Most villages, towns, or even cities are located within a township whose name is different from the above. That does not change the name of the town.

bob2356 says

same town name in the same state?

And the leg-humping routine starts again. Do you really think that you could convince ANYBODY that a township is an actual town????

You're really are a pathetic individual. So to you, there's ??/who knows how many Egg Harbors in NJ, but to the rest of us sane and rational people, there's only one TOWN(notice the spelling?? And NO differentiating word to seperate the name from a like-named town???) named Egg Harbor in NJ, population 4497(per Rand McNally 2009) at exit 17W unless that number has been changed.

102   Bellingham Bill   2013 Sep 28, 2:54am  

Abenomics might test this "inflation good" stuff.

If wages don't rise there, their inflation might come out of rents and land values.

Theoretically that should happen, but there's usually a gap between theory and reality, especially in economics.

103   freak80   2013 Sep 28, 3:19am  

The CPI is bogus! It's a conspiracy, man!!

104   Meccos   2013 Sep 28, 4:34am  

btw if anyone wants to see the original thread that I posted and was deleted by IWRONG and see IWRONG original post before he edited, just look at my comments...

so sad when you have to go so far as to delete peoples comments and edit yours....

105   freak80   2013 Sep 28, 4:40am  

Some people see debate as a way to test ideas and discover truth. Such people understand that they "win" even if they "lose" the debate, since wrong/bad ideas were shown to be wrong/bad.

Other people see debate as a way to "create truth" by repeating an assertion endlessly, ignoring all contrary assertions and refutations. Such people are part of the "don't confuse me with facts, my mind is made up" crowd. That way of thinking seems especially prevalent on the far-right these days.

106   Meccos   2013 Sep 28, 4:42am  

and other people choose to make false arguments just to win a debate and get mad when someone calls them out on it...

107   freak80   2013 Sep 28, 5:20am  

We don't have hyperinflation. Or even bad inflation. Oil is still about $100. Natural gas prices have tanked. A loaf of bread is still about $2.50. A mcdonalds double-cheeseburger is still about $1.25. A typical McDonald's value meal is still about $6. A nice new car about $20-25k. Even the worst drought in recent history hasn't affected food prices that much. Where's the big inflation?

Sure, our third-world health care racket keeps getting more and more expensive, no doubt. But that's not the fault of the Fed.

108   mell   2013 Sep 28, 5:43am  

freak80 says

We don't have hyperinflation.

Agreed.

freak80 says

Or even bad inflation

Disagreed. I'd give it a range anywhere between 3% (if you're lucky) and 10% (if you're unlucky), and even 3% p.a. is brutal AKA bad. A family with a combined income of 100K at 20 needs to have a combined income of 250K at 50 just to keep track with 3% p.a. inflation - let alone the need for building money for retirement. There are very few job categories that let you have the possibility (if you excel) of such a trajectory (luckily tech is one), but for most areas that sort of wage increase is simply not possible.

109   freak80   2013 Sep 28, 6:17am  

Where do you get the figure of 3% to 10%? 3% isn't too bad...if I'm not mistaken, 3% is the fed's target rate. 10% is very bad.

One must use a "basket of goods" to measure overall inflation since the price of a single commodity can fluctuate wildly.

Example: beef has gone up quite a bit. Other meats have not.

110   mell   2013 Sep 28, 6:22am  

freak80 says

Where do you get the figure of 3% to 10%? 3% isn't too bad...if I'm not mistaken, 3% is the fed's target rate. 10% is very bad.

My own calculations and and the EPI:

https://www.aier.org/article/7557-epi-reflects-basic-economic-change

I think the Fed's target rate is 2%, but I am not sure. I'd say that's not bad if most incomes rise more or less in lockstep, but personally I'd prefer 0.5%-1% max. and even period of similarly small deflation are fine.

111   freak80   2013 Sep 28, 7:21am  

Mell,

There's no question that oil prices have skyrocketed in the last 10 years. And yes, that's hurt everyone. And the price has been volatile...both supply and demand are very inelastic. Thank you, China & India. That's not the fault of the federal reserve, right?

That's why I don't buy the whole "fed is causing serious inflation right now" idea.

Sure, the whole business of "printing money" seems shady to me, as it probably does to most regular people. After all, if you or I were to print money, we'd go to jail. Nonetheless, the facts don't support the claim that the fed is causing serious inflation now.

112   freak80   2013 Sep 28, 11:10am  

No one is claiming there has been no inflation since 1912. That's a straw man.

Peter Schiff was obviously wrong. There has been no collapse of the dollar or hyperinflation. Even if inflation were at 10% (it isn't), that's hardly a "collapse" or "hyperinflation."

Do I hate the tbtf banks? Absolutely. They should have been broken up and/or nationalized, with CEOs forced to give up their positions and bonuses. An "epic fail" should not be rewarded.

But that doesn't mean we're headed for doomsday. Peter Schiff was wrong, and anyone who put their 401k into gold and silver fearing Armageddon is possibly sitting on a very painful loss.

113   upisdown   2013 Sep 28, 2:02pm  

Call it Crazy says

It's funny how you are such an "expert" in a area you don't live in...
amazing...

LOL, so just HOW MANY Egg Harbors are there then in NJ??
Not LITTLE Egg Harbor, not Great egg Harbor, Not some variation of an Egg Harbor Township.............................................JUST EGG HARBOR??

And while you're at it, feel free to expound upon your claim that"huge sections of the county don't have nat gas nearby", and WHY.

114   upisdown   2013 Sep 28, 2:16pm  

Call it Crazy says

Hmmm, it's probably a brain fart on your part, but as a FYI, you were having
the Egg Harbor fight with Bob, Not me....

He(you) somehow had the need to give some BS geography lesson, and when I responded to his nonsensical shit, you respond. Ah, how cute, and weird.

And yet you haven't explained at all your claims of the lack of nat gas. availiblity/access, have you? And no, I'm not surprised either.

Are you afraid that you'll totally embarrass yourself because none of the facts to support your assertions aren't readily available from wikipedia? I think that's THE major reason for your vagueness and constant attempts to change the subject, and then the ensuing routine of splitting hairs or arguing endlessly about how wet water is. But you're a computer geek and apparently believe that the internet will somehow make you smarter, or at least provide the info to fill in the numerous gaps of facts and real world knowledge that you lack.

115   upisdown   2013 Sep 28, 2:19pm  

Call it Crazy says

Hmmm... maybe because I can see the big white propane tanks on their
yards..... I think that's a dead give-away that there's no natural gas going to
the house...

Just like I thought, no reasonable answer. Shit, you're too f-n lazy to even make a lame-ass one up.

116   upisdown   2013 Sep 28, 2:41pm  

Call it Crazy says

Wow, delusional much??? Bob was schooling you on local Egg Harbor geography,
not me.... It's nice that your such the local expert on this area of NJ... (or
you just think so)....

LOL, schooling? More like a circle-jerk of pointless, and useless info that made him actually look dumber, than smarter.

And yet after my response to him, you reply.

Not him, YOU. Like I said before, weird.

And you still haven't backed up any of your claims about availability/access of nat gas.
You have no idea at all do you, and your constant evasion of the issue confirms it, just like I thought.

And now you deleted your post, how pathetic.

117   upisdown   2013 Sep 28, 2:47pm  

Call it Crazy says

Here, I'll help you since you REALLY have problems understanding written
words.... Maybe going back to 2nd grade and using pictures will help you...

The computer geek can paste pictures and put captions on them, but can't explain or back up his BS claims. Shocker. LOL.

And apparently delete any embarrassing posts too. Loser.

At least you know that you know nothing about the claims that you made and you are at least smart enough to not let yourself get cornered by posting anything that is easily refuted, and embarrassing for you. I'll give you that much.

118   Bellingham Bill   2013 Sep 28, 3:27pm  

indigenous says

even if you tax the 1% at 100%

http://research.stlouisfed.org/fred2/graph/?g=mSh

blue is after-tax corporate profits

red is the annual federal deficit

just sayin'

119   Bellingham Bill   2013 Sep 28, 3:30pm  

freak80 says

Nonetheless, the facts don't support the claim that the fed is causing serious inflation now

They're preventing serious deflation, which is the same thing to people sitting on shitloads of money.

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