Comments by "bighand69" (@bighands69) on "Joe Rogan - Peter Schiff Predicts Another Financial Crisis" video.

  1. When Eisenhower came to office after the disaster of FDR and Truman he cut taxes and this created the biggest boom in US history that lasted 20 years. When Reagan came to office unemployment was 13% and when he left office it was 5% and when he came to office inflation was peak 24% and when he left office it was 4%. Under Reagan household income increased and US productivity increase.
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  2. Bitcoin is a bubble waiting to go. Nobody actually fully understand how Bit coin even functions.
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  3. +Ser Jamie Lannister Currently there is 95 million people out of the workforce. Interest rates are at an artificially low level of under 2% when they should be more like 5% or 6%. The stock market is doing well because companies on it are doing well but if there is a major contraction like 2008 they will all suffer. Interest rates cannot really be the savior again because they are at 1.2% and dropping them the next time to 0% will not have the same desired effect. Recessions always happen there is not getting around that and they tend to happen every 10 to 15 years and major ones about every 25 years. Tell what do you think will happen when the next recession happens which it will just like when the rain happens it maybe sunny today but we all know it is coming.
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  4. He is not predicting a recession. He is predicting that government debt of 20 trillion and low interest rates are going to cause massive problems. If there is a recession and they raise interest rates to 2% that will mean a double of the repayments. The options at this point will be to cut medicaid and every other welfare program by 50%. Do any of you actually think this is going to happen.
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  5. +4ANewDeal He is right in his overall perspective. The problem with economic is that it is not a science it cannot predict everything accurately. The Debt levels of 20 trillion are far above where they should be. Based on 3% inflation debt right now should be about 9.5 trillion maximum but it is actually at 20 trillion meaning the debt is growing far faster than it should. And interest rates are very near to 0% if it when up to 2% that would mean near to 200% increase in debt repayments. What do some of you think is going to happen with debt at this level.
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  6. +Billy However Mr Billy it is really simple to understand. US debt is 20 trillion interest rates are 0% if interest rates were to go up to 2% which is still very low historically that would mean US debt repayments would double in value. Now the US has a deficit of about 500 billion per year which means they are spending 500 billion more than they are taking in. Now imagine if they added 500 billion on top on that every year. But what happens if interest rates where to go up to historical levels of 6% or worse still historical levels during a recession of say 12%. Could you imagine what would happen to the US economy. Well that is what Schiff is saying. He could be wrong like everybody else but what if he is right.
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  7. +notexactlypaul There is currently 95 million people out of the US workforce yet the unemployment figure is 5%. So that means there is 1.9 trillion people living in the US but have lets say there is only a total workforce population of 20% and I slash my figures 5 fold to say 380 million. Does any of those figure make sense on the 5% unemployment figure. I dare you to answer my points. Just least address them at some level.
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