When I took Macroeconomics in 2008 I argued these same concepts with my professor, who shrugged me off and told me I didn't understand enough about economics. Since then I have been studying economics by listening to economists talk, watching economics lectures online, and understanding politics. I thought I was missing some critical idea for years. But this lecture finally puts some authority on what I originally thought. Don't let school take away your ability to think !!
A 1 hour 16 minute speech, off the cuff, rapid tempo, no notes, no ..."uhhs"...of international scope and ranging over 80 years of history. Simply incredible!
Arising-Tale Well, Peter Schiff talks at the Mises Institute who are the the foremost active on libertarian theory, anarcho-capitalism and austrian economics
Thank you, Ludvig Von Mises Institute You bring true economics to the world through RU-vid, and I thank you for it. If it wasn't for you, Norwegian people would never have heard about Austrian economics.
Radel Dadel Well He Predicted the 2000 Crash and The 08 Crash ,This was n 08 and We did Run Up 10 Trillion Dollars n 10 Debt and We can never Pay this back and Obama Continued Bushes Foreign policy Turned 2 Wars N2 7 Wars, Worse Trade Policy's, Same Economic Policy's.
Brian Blair and yet he has a Nobel Peace Prize sitting on his shelf. Probably the first Nobel Peace Prize laureate with a kill list he reviewed every Thursday.
i'm 23 yrs old.. I just started to study Austrian Economics. The amount of knowledge i've learned in the past 2 months, its ridiculous. It makes me sad that so many individuals choose not to try understand the world around them and accept things they KNOW ABSOLUTELY NOTHING ABOUT. We must keep fighting to get this general knowledge out there.
Watching this video over a decade later is still as refreshing as watching it for the first time. Sane, down to earth people like Peter Schiff and Ron Paul need to be running our government. God bless our souls.
I have watched/heard this video so many times, and i still enjoy watching it, and find it very informative, and very predictive of what we are experiencing now. This man knows his stuff when it comes to finances.
Well. . . I live and work in Japan. . .but I am a US Citizen. I don't own a house (live in a small apartment), I don't own a car (just a small bicycle) and I don't buy brand item junk. Being a Christian, once it while I do help somebody out moneywise, but in general I try to be careful with my yen. I believe in SAVING money and investing it for something meaningful and hopefully profitable (like buying land ). In the future I would like to have a small business.
He is such a gifted speaker, he can explain even the most comlicated thing in the world with common sence and in a simple, entertaining, funny and inteteresting way at the same time. He is so easy to listen too..
Lot's of epic quotes in here. 'There'd be a lot more due diligence if we didn't think the government was doing it for us' 'Housing prices are a function of rent' Brilliant.
This speech by Peter Schiff- informative, witty, funny, and sobering all wrapped up into one, is one of his finest, and well worth sharing even with those who are bored by economics. It really is a shame that so few people share his understanding and insights.
20 year old here I've been into finances since the age of 17. I'm getting my series 6 right now. I'm getting ready to face all the negativity from older people😂😂
Absolutley briliant speech on briliant analysis combined with easy metafores on a subject concerning anyone in the US and the world! How can anyone seriousley read papers or business-magazines if haven´t heard / watched Peter Schiffs speech?
I watched this.. and realized, I am just smart enough to realize I am screwed, but not smart enough yet to do anything about it.. It was a great informative video, but slightly depressing.
The fact that I learned more about economics in the past hour and fifteen minutes, than I did when I spent 4 years majoring in it, is absolutely ridiculous.
Peter. I really enjoyed your talks especially when some of your critics get into really school boy antics and you keep your composure. I saw the one you had with Max Kaiser on cryptos.
Me too, I have also watched this so many time, still very enjoyable to watch. Peter Schiff is so incredible smart on economics, and if he doesnt win the Senate election im going to be very, very disappointed. Stop the Spending, vote for Peter Schiff!
01:03:15 "The Federal Reserve is going to start buying our bonds, and there's going to be a currency crisis" Well, here we are two years later, and sure enough, Peter Schiff was RIGHT AGAIN!
Incredible. Very few people can make Austrian Economics understandable to someone like me. It's a shame that more people didn't listen to Schiff, Ron Paul, Jim Rogers etc 20 years ago. His speech in 06 to the mortgage bankers is equally impressive
In a free market that is true. But the Federal Reserve can and does manipulate the amount of credit in the system via its monetary policy. That's basically what the Greenspan Put was, an artificial credit expansion.
This is a fascinating real life application of the Austrian Business Cycle Theory and Hayek's inter temporal dis-coordination of investment resources when interest rates are too low.
Yep act like the internet never happen, bro I shop from Aliexpress the internet changes everything. The perfect time to start a business and sale to the world shipping is cheap.
Take a big guess how companies like amazon are able to keep selling so cheap and make a consistent loss every single year and remain in business? Amazon should be by all accounts more expensive than shops selling goods in a store but you would pay amazon a premium for delivery and convenience. Extremely low interest rates and tricky tax codes my friend it's all propped up by government intervention.
@@Alfie-ni7lx Agreed... low interest rates favor those who borrow and punish the savers...so all small businesses who were saving money, were essentially funding Amazon ie. their own demise... crazy corrupted world... if you dnt play their game, you lose... ftw...
Wreqt schiff: case is the Austrian case. The Austrian economist do not believe in macroeconomics for good reason. There is a fundamental disagreement in a lot in economics. The kenysians were huge on the Phillips curve until the 70s broke it. Which is scary that the people who believe in Keynesianism the most are the ones micromanaging the world economy’s. The fact that they slashed rates to a negative value should show you how absolutely out of their league they are
And those economic professors have 401K's that have outperformed Peter's funds by huge margins, without the highway robbery 4% upfront loads that Peter pads his pockets with.
Legend of what? He states hyperinflation and price controls under Obama's first term LOL! If you play the same lotto numbers, you will win eventually, might take you 1 day or a few thousand years, but you're gonna hit it.
Years of low interest rates have created another bubble. Not just housing, but an everything bubble, that is starting to show signs of bursting. Most of the things he said then still apply and the coming real estate meltdown looks to become worse than the last one.
He is right in his economic analysis, though not necessarily for the short-term. But then again, one can only make guesses as to what happens in the short-term.
he nailed it at 37 mins in when he described the lending process: where the lender picks the appraiser who'll appraise for the value that will get the loan funded, and the appraiser relies on the lender for his/her business. Further, the builders own the title companies, realty offices, and now the lenders, and they just want the house off their books. They say "qualify" the borrower as if it is a verb to be applied to applicants rather than a quality that they do or do not possess.
He's had a couple speeches that I've watched where someone tells him that he's over time, and he just says "well... thanks." It's a crash landing for his speeches, but the audience seems to love it. Great speech overall.
Ken - you seem to be getting the cart confused with the horse in my explanation. Observe a work (an activity) of one human being - can there be an excess of suppy in that activity? - No ! Now observe 2 individuals - can there be a likewise excess of supply - No - because a capacity of one is matched to the other. Excess capacity causes the more capable to adjust their actions. Same with 3 or 4 or 5,000 unless laws or government interfere. - laws like trade restrictions or union monopolies.
These statements are the key critical statements that needs absolute scrutiny and be accompanied with corrective measures to ensure America's productive capacity, saving capacity, manufacturing ability, etc. 45:11because the government undermined are productive capacity 45:14undermined our ability to save 45:16undermined their ability manufacture and nurturing cultivated 45:20the consumer bubble that this service sector economy that we had 45:24s_l_ collapse 45:26and it's not government as we restore it 45:28we need we need free market forces 45:31the government right now 45:33every they're doing
I got more info ffrom this vid about the economy than just about anything I have seen. Thanks for posting it. I at last really understand what is going on. Time to go get ready for the end of the world as we know it.
@EuropeanAmericanMan: I'm with you. I donated to Peter Schiff's campaign and Rand Paul's. Most of the Republicans give all sorts of lip-service to following the Constitution and respecting the free-market, but they never follow through. The more libertarian voices we can get into office, the more people might actually start to listen.
