Peter Schiff, president of Euro Pacific Capital, took on Joe Weisenthal, chief executive editor of the Business Insider, in a battle described by CNBC as Fed Haters vs. Fed Cheerleaders.
When you watch the eight-minute video, be sure to monitor the “Are the Fed haters wrong?” counter: when the show begins it’s 99 (yes) to one (no), but when Schiff speaks that counter shifts to 43 (yes) to 57 (no).
Like this article? Get ECN delivered to your inbox daily. Subscribe here.
May 21, 2009 Kevin Phillips / Huffington Post
When future chroniclers describe the late 20th century and early 21st century global inflation now about to renew, the rise of Asia will be an even bigger causation than the massive money expansion set in motion over a quarter of a century by the U.S. Federal Reserve.
I love destroying Joe Weisenthal’s arguments; he’s so arrogant. There has been inflation – look at the stock market, zooming without commensurate GDP growth. Also, the dollar being strong is irrelevant – the dollar is measured against other currencies like the yen and the euro which are even weaker. The dollar could have a very high index number associated with it while all currencies are bad. Health care costs are up 10%.
http://healthcare-economist.com/2014/05/11/health-care-cost-rising-by-almost-10/
Hamburger is up 12%.
http://cnsnews.com/news/article/ali-meyer/average-price-ground-beef-hits-all-time-high
The debt per person is now $58,604. As recently as 2001 it was only $20,223.
I could go on, but Joe is clearly wrong.