Nov 2006 Peter Schiff Mortgage Bankers Speech Part 2 of 8
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In 2006 Peter Schiff tells over 1000 mortgage brokers they are about to be out of jobs. Watch how he completely nails the coming real estate/mortgage debacle
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“Reload” the page, and it will play. It’s not a conspiracy against Mr. Schiff. I’ve noticed the same thing, but on all sorts of video clips.
Keep yer powder dry!
Hmmm? Every time a video of this nature or a speaker of this nature post a video parts of the series get the message “We’re sorry, this video is no longer available.” Of course not YouTube. We’re starting to see how you try to hamstring information.
our big trouble is that we have been to rich ,for to long.this eads to us being like like spoiled kids . we mature slower (40 year old kids )and therefore we are effectively retardedor to use another word we are set back by 10 or 20 years.
when we get married ,we get out of the marriage because were not having fun anymore .the same applies to our work ethic .
the coming depression will do us a good turn in the way of d-spoiling us .we need it desperately .
(the historian makes one final comment)
“As a note, it is clear, by our psych-iologists, that from the state of their notions of relative ‘equality’–completely irrational, as we understand today–between Overlords and Underlings, that any type of survival on a large scale by Underlings (of course, needing the wisdom of the Overlords) could not have been realized prior to this time…as such, historians are not sure why this time was called the “20th” or “21st” century.”
Note: A.O=After Obama
(the historian continues)
“Until it was realized that we the Overlords were, in fact, superior to the Underlings, comprising then, just as now, about 0.001% of the population…this was called the ‘Great Baelought’, when the Overlords used their superior minds to, to some small degree, make the Underlings realize their clear inferiority, and that they are, in fact, little different from tools and property of the Overlords. This is the date from which we mark our calendar, at 0 A.O.”
Ehh, I would I agree with you, but I’m hoping the alternative doesn’t come to fruition:
That historians will say “Now in the year 144 A.O., we enjoy so many things, like daily food and water, compared to the Dark Times before…in what they called the ’20 and 21st’ centuries. In this primitive time–and this is hard to understand–there were no Underlings and Overlords…all were called ‘humans’, and most believed a relative equality among both races” (continued)
Shimano is Japanese not chinese
I think are trying to fool themselves in believing rhetoric that the United States has good workers – we may have some, but for the most part we have poor workers – especially when you compare us to the rest of the world.
Agreed. Americans are lazy from too much television and stupid from public schools. Historians will look back at the 20th and 21st centuries and ask:
“How is it that they claimed to fight a 50 year war against communism when they were a communist country?”
I worked at a bike shop, and I sold bikes made in the United States of the America which were 3-4 times more expensive and than Chinese bikes – and the Chinese bikes were just as good [and in many cases better] than U.S. made bikes. I think are trying to fool themselves in believing rhetoric that the United States has good workers – we may have some, but for the most part we have poor workers – especially when you compare us to the rest of the world.
I think it was the surplus of homes. I can remember 10-15 years ago all the housing developments in urban sprawl and thinking: is there really enough buyers for all these home. I mean why are there $300-400 homes being bulit in rural areas.
Is Bernard Madoff direction this real estate theater of pain. I remember how effort and coin it took my parents to maintain a house. That’s why I hate the show flip this house, or whatever it’s called. Just think, my frind made 13/hr 5 years ago, and bought a $200,000 house with no money down. I knew something was up with that.
WOW I thought the same thing. I also thought there can’t be enough high paying jobs to afford all these houses.
I remeber 10 years ago when all of these new $300K homes were being created-ofcourse in urban sprawl–and thinking this: Areb there really enough buyers to purchase these home. I live in the Minneapolis-st Paul, Mn area.
MAdoff chaired Nasdaq. HAHAHAHA
“Calgon, take me away!”
Schiff is an economic god.
This man knows his shit.
I think the problem was that America had expensive workers and people didn’t mind buying crappier foreign products, as long as they were cheap. If we care about quality more than price, we’d get quality from our own products… but we don’t.
I agree with this entirely, what we consider “Normal” economic growth is actually far more unsustainable, it was as if we were all euphoric – on some kind of drug high, and we thought it was possible to stay high forever. I hear in public speeches that the US has good workers – but that’s bullshit, if we had good workers then we’d be making crap people would want to buy. America has crappy workers, that’s the problem.
its good to see schiff in a forum where he doesn’t have to cram all his ideas into a 30 spot.
great video, thanks for posting. ‘boom is the problem, bust is the solution’ – love Peter’s points. I can’t believe this audience would invite him to speak at that time. They must have hated the truth.