Rockstar Economist Peter Schiff tells RT's Marina Portnaya that Lehman Brothers failure was a success not a failure. He says Americans will face increasing unemployment, inflation, and possible bread-lines if government backed bail-outs continue.
Peter Schiff: Americans must prepare for deepening unemployment, inflation and possible breadlines
Posted by admin on August 24th, 2010
Posted in Depression Videos 
granted the recession, were still the richest country
"US to split into 6 pieces in 2010, RussiaToday" in the side bar doesn't vouch for the quality of this "news" channel.
well believe it or not when i was a child our town had a welfare cheese line everymonth and all the poor went to town to get free cheese from the government..
Peter is the man!
@73mandala Good question.
Capitalism is the wage slavery of immense humanity in a politically manipulated,tyrannical MARKET SYSTEM OF ARTIFICIAL SCARCITY to perpetuate servitude and exploitation in the interest of the ruling class. Capitalism as system of commodity production for the profit of the ruling class is historically oudated , a decomposing corpse suffocating humanity. We need to evolve ,sharing the Earth in cooperation for our common needs and wellbeing in harmony within and without. Capitalism is evil
obama said that everything is going to be fine and the economy was saved
from a long recession he said it on the view he must be right
California won't leave the union, we need it for bail outs!! Thats whathappens when you live in a state full of star struck retards.
@Research0digo They never paid back the full loan of 4 billion... they paid back around 2 billion but the Treasury Dept said that's more than expected to recover and then called it even.
Capitalism is the wage slavery of immense humanity in a politically manipulated,tyrannical MARKET MECHANISM of artificial scarcity to perpetuate the conditions of servitude and compliance in the interest of the OWNING/RULING CLASS. Capitalism in State dictatorship or Corporate Fascism modality is a monetary control,suppression and deception of the Working Class across the world. We need to reclaim our lives,our Planet for a world of cooperation for our common needs and well being.
Peter is right to many laws to own a business
this is what the government wants. Bankers
control everything.States should separate
why should everyone suffer from there stupidity.
No, economist know what the hell they are takling about...we have thousands of these people...and these jackasses say eight million differant things on WHAT MIGHT!! happen in the job market or how it suppose to get you back to work...geek dumb asses...
Why do they bailout Goldman Sachs and the others but not Lehman Brothers, why is it ok to bailout 1 and not the other?
Chrysler paid the government money back - I wish they'd stop bring them up - people needed jobs sorely. Detroit and Flint are ghost towns now - everything's made overseas.
quit supporting wal-china
@IcedEarth426 Well, this is exactly why I chose a job in the medical field. I'm only a year away from becoming a licensed dental hygienist. At least with dental hygiene they can't send that overseas. But even so I hear it's tough getting a full time job as a dental hygienist at least where I live anyway. Other areas I'm sure are fine.
@Sallyallie89 A lot of people just like yourself are graduating college and can't find a job outside of stocking shelves at WalMart or Target. We're being shut down and de-industrialized to the point where people can only get service jobs...which aren't career jobs. All of the jobs that have been lost are gone forever. They're not coming back. People need to start waking up and taking action against these crooks who have stolen all of our money and moved everything off shore for cheap labor.
@geor1717 I wouldn't disagree with you. This country is very corrupt.
@Sallyallie89 what's sad is that your vote doesn't even matter..the presidents are puppets to a bigger structure that pull the strings
"Nobody [in Senate] understands basic economics."
I agree with that.
This is depressing. I'm in college, paying thousands of dollars to get a degree, and this is what's happening? I may not even have a job after I graduate? Such BS.
It's not my fault. I wasn't able to vote until just very recently. I'm only 20.
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@edthewave dumb blonds on fox tho
@gigiontube and bullets
i had no idea Peter Schiff had reached rockstar status in Russia. hopefully he makes senator status in the US
If Lehman Brothers had gave as much money to the Republican party as AIG maybe George Bush would have bailed them out also.