Scary but makes sense

[Common Sense Al]

This was a "scary" video but it makes sense... basically he says we should take our tough medicine now (from years of reckless borrowing and spending by consumers and the gov't) and not pass any stimulus bill. The stimulus will ultimately make things even worse. Eventually the gov't won't be able to borrow anymore like they do now... and we could see hyperinflation.

Peter Schiff: Stimulus Bill Will Lead to "Unmitigated Disaster"

[josh]

This was a "scary" video but it makes sense... basically he says we should take our tough medicine now (from years of reckless borrowing and spending by consumers and the gov't) and not pass any stimulus bill. The stimulus will ultimately make things even worse. Eventually the gov't won't be able to borrow anymore like they do now... and we could see hyperinflation.

Peter Schiff: Stimulus Bill Will Lead to "Unmitigated Disaster"

It is easier to deflate than inflate...I think. I dont think inflation is on any one's list right now with 8% unemployment and negative GDP. I agree that much of the stimulis is junk...but I dont think you can just say that the govt shouldnt do anything at all.

[Common Sense Al]

It is easier to deflate than inflate...I think. I dont think inflation is on any one's list right now with 8% unemployment and negative GDP. I agree that much of the stimulis is junk...but I dont think you can just say that the govt shouldnt do anything at all.

I agree they should do something... fix the oppressive systems in place that prevent innovation and productivity... like the tax code, patent system, healthcare, and all the bureaucracies that cause more harm than good.

But I don't think they should spend money when it's $900,000,000,000 they don't have and they are already trillions in debt. It's just so much easier to spend than to really fix the fundamental problems (until finally the borrowing collapses and then we're in real trouble). Eventually you can't borrow yourself out of debt/trouble anymore.