Schiff - "Buying a bunch of imported junk on plastic" = Pilgrimage to Poverty

[Anti Federalist]

At the start and at 5:10


http://www.youtube.com/watch?v=Ve8vsIntwYc&feature=player_embedded#!

[Brian4Liberty]

Peter Schiff just doesn't understand the new paradigm. Americans can live on food stamps, welfare and credit cards. Even if there's work to be done in the US, we can import people to do that. It's easy street! We won't run out of milk and bread, the government will provide, food stamps always cover those kinds of food, plus McDonalds too! Why so negative Peter?

[Anti Federalist]

What, nothing?

Schiff is saying basically what I have been saying all along (no he's not saying anything about tariffs) but he is saying that an economy does not recover by a bunch of people running out and buying imported crap with money they don't have.

That it would be a different story if they were out buying stuff that was made here, thus putting people to work.

[Anti Federalist]

Peter Schiff just doesn't understand the new paradigm. Americans can live on food stamps, welfare and credit cards. Even if there's work to be done in the US, we can import people to do that. It's easy street! We won't run out of milk and bread, the government will provide, food stamps always cover those kinds of food, plus McDonalds too! Why so negative Peter?

Yes!

That's it, we spend our way to prosperity by buying a bunch of crap that we can't afford.

[heavenlyboy34]

What, nothing?

Schiff is saying basically what I have been saying all along (no he's not saying anything about tariffs) but he is saying that an economy does not recover by a bunch of people running out and buying imported crap with money they don't have.

That it would be a different story if they were out buying stuff that was made here, thus putting people to work.
Yep. Consumption-based economy=fail.

[Krugerrand]

What, nothing?

Schiff is saying basically what I have been saying all along (no he's not saying anything about tariffs) but he is saying that an economy does not recover by a bunch of people running out and buying imported crap with money they don't have.

That it would be a different story if they were out buying stuff that was made here, thus putting people to work.


Exactly! The jobs it takes to divulge ourselves of our capital resources do not count as an economy.

[hazek]

You guys should have hear his show today when he had a economics professor as guest saying that it's the demand that drives supply and that all this debt and trade deficit is not a problem at this time at all. The guy was beyond ridiculous and Peter really destroyed him :D

[silverhandorder]

You guys should have hear his show today when he had a economics professor as guest saying that it's the demand that drives supply and that all this debt and trade deficit is not a problem at this time at all. The guy was beyond ridiculous and Peter really destroyed him :D
You have a link ?

[LibertyEagle]

There is another thread on here that I was reading yesterday that had more than one post in it claiming that it was fine and dandy for us to be a consumption society. Nor did we need to produce anything here.

I thought I had made a wrong click and entered dumbass.com.

[specsaregood]

There is another thread on here that I was reading yesterday that had more than one post in it claiming that it was fine and dandy for us to be a consumption society. Nor did we need to produce anything here.

I thought I had made a wrong click and entered dumbass.com.

Are you suggesting that we can't live for free letting the world feed and clothe us into eternity! Heresy!

[hazek]

You have a link ?

It was today's show, so I doubt there a tube of it yet, just listen to the continues 24h loop of the last show..

[Anti Federalist]

There is another thread on here that I was reading yesterday that had more than one post in it claiming that it was fine and dandy for us to be a consumption society. Nor did we need to produce anything here.

I thought I had made a wrong click and entered dumbass.com.

Savings, prudent investments, hard work and independence has no place in the modern global economy.

Profligate government and citizen spending, even when they are both broke, is the only way to prosperity now.

[heavenlyboy34]

Peter Schiff just doesn't understand the new paradigm. Americans can live on food stamps, welfare and credit cards. Even if there's work to be done in the US, we can import people to do that. It's easy street! We won't run out of milk and bread, the government will provide, food stamps always cover those kinds of food, plus McDonalds too! Why so negative Peter? Food stamps work at McDonald's now? In my state, food stamps (EBT cards) are only for supermarket food.

[heavenlyboy34]

There is another thread on here that I was reading yesterday that had more than one post in it claiming that it was fine and dandy for us to be a consumption society. Nor did we need to produce anything here.

I thought I had made a wrong click and entered dumbass.com.
lolz!! Was that one of Roy L's threads? Sounds like something he'd advocate.

[specsaregood]

Food stamps work at McDonald's now? In my state, food stamps (EBT cards) are only for supermarket food.

In some states you can even get a pizza and dine-in restaurants on ebt now.

[Anti Federalist]

Food stamps work at McDonald's now? In my state, food stamps (EBT cards) are only for supermarket food.

I was curious myself.

A quick googling indicates that the answer seems to be: sometimes.

Some do, some don't or only for certain items.

[heavenlyboy34]

In some states you can even get a pizza and dine-in restaurants on ebt now.
SRSLY?!! :eek: OMG!!111 What's the incentive to get to work if you can get anything you want at the taxpayer's expense? (note also, fyi, if you look at the back of those cards, you'll typically see "account by JP Morgan" or something to that effect. Yep, the big banksters are profiting from American poverty. Surprise!)

[specsaregood]

I was curious myself.
A quick googling indicates that the answer seems to be: sometimes.
Some do, some don't or only for certain items.

They are lobbying federally now too:
http://www.ronpaulforums.com/showthread.php?313702-More-restaurants-are-targeting-customers-who-use-food-stamps

from that:


The number of businesses approved to accept food stamps grew by a third from 2005 to 2010, U.S. Department of Agriculture records show, as vendors from convenience and dollar discount stores to gas stations and pharmacies increasingly joined the growing entitlement program.

Now, restaurants, which typically have not participated in the program, are lobbying for a piece of the action.

Louisville-based Yum! Brands, whose restaurants include Taco Bell, KFC, Long John Silver's and Pizza Hut, is trying to get restaurants more involved, federal lobbying records show.

[Deborah K]

I bought Schiff's book 'Crash Proof' about 4 years ago. We took his recommendations. I strongly suggest if you haven't, that you do so.

[Brian4Liberty]

Food stamps work at McDonald's now? In my state, food stamps (EBT cards) are only for supermarket food.


In some states you can even get a pizza and dine-in restaurants on ebt now.

In California, they work almost everywhere, using an EBT debit card. I was recently told by someone that receives the free government food that his family takes great pleasure in dining out and eating steak and sushi with the card, just to rub in to the people who are actually working.

[Brian4Liberty]

SRSLY?!! :eek: OMG!!111 What's the incentive to get to work if you can get anything you want at the taxpayer's expense? (note also, fyi, if you look at the back of those cards, you'll typically see "account by JP Morgan" or something to that effect. Yep, the big banksters are profiting from American poverty. Surprise!)

Bingo!

[Brian4Liberty]

Are you suggesting that we can't live for free letting the world feed and clothe us into eternity! Heresy!

Just food and clothes? It doesn't stop there! You are also entitled to a flat screen TV, a smart phone, an Xbox, and free liquor and smokes!

[heavenlyboy34]

Just food and clothes? It doesn't stop there! You are also entitled to a flat screen TV, a smart phone, an Xbox, and free liquor and smokes!
No free hookers and webbernet? :eek: This is not the third world, man!

[Danke]

In California, they work almost everywhere, using an EBT debit card. I was recently told by someone that receives the free government food that his family takes great pleasure in dining out and eating steak and sushi with the card, just to rub in to the people who are actually working.


http://www.youtube.com/watch?feature=player_embedded&v=NzspsovNvII

[Brian4Liberty]

Talk about a coincidence, one of those "informational" chain e-mails hit my inbox today:




920

LARMONDO "FLAIR" ALLEN

AT AGE 25 - He had 9 Children.

He was 25 and had 3 sons and 6 daughters.
NINE welfare recipients collecting $950 each.....
That equals $8,550 a month in cash!!!

Do the math... $102,000+ /year.

Now add Food Stamps, Free medical, Free school lunches, Section 8 housing, charity food, and on and on.

That's a successful entrepreneur!



To be clear, this is not a racial issue. Anecdotally, people I have personally met that are on welfare are white. All of my "non-white" acquaintances have jobs or have not signed up for welfare or food stamps.

[Anti Federalist]

Confirmed that EBTs can be used at fast food places.

http://news.yahoo.com/food-stamps-fast-food-restaurants-183900927.html