Ron Insana Vs. Peter Schiff: Already The Debate Of The Year?

[NACBA]

Peter Schiff and Ron Insana can agree on one thing: The Federal Reserve probably won’t be able to raise interest rates in 2015.

And that’s it. Finished. Done. Complete.

From that point on, they disagree on practically everything else. But each has a wealth of knowledge on the subject of the economy, central banks, monetary policy and more.

Here’s what they said.

Insana: Not Now, But Soon

Insana is a fan of the Federal Reserve. He thinks they have done the right things and are dying to both raise interest rates and normalize policy.

He cited a number of reasons. First, Insana said the S&P 500 is up 212 percent from its March 2009 low, corporate profits are up 200 percent and corporate cash is at $4 trillion, with the cleanest balance sheets since the 1960s.

Insana also pointed out the capital base for American banking is considerably stronger than it was during the recession from 2007 to 2009, in addition to all-time highs for both car sales and retail sales.

Indeed, the auto industry had its best year in 2014 since 2006, and retail sales hit an eight-month high this past November.

“A great deal of this has been facilitated by Fed policy, particularly in the absence of any proactive, countercyclical fiscal policy from a completely dysfunctional White House and Congress,” he said. “The Fed was the only game in town.”

SNIP

Schiff thinks there is a sub-prime boom in auto lending and that the Federal government is basically doing direct-lending through its subsidiary areas so almost anyone can buy a car with a loan that looks like a mortgage.

“The problem is that we have the Fed micro-managing this economy and blowing these bubbles. If we had real interest rates, if we had a smaller government, we would have a more vibrant economy,” he said. “We are not having that because of the Fed.”

http://finance.yahoo.com/news/ron-in...150803519.html

[Zippyjuan]

I think there have been enough Peter Schiff threads for a little while.

[DFF]

*looks up*

lol

[torchbearer]

Only a matter of time until Peter Schiff was Right part two is made.
There isn't one asset bubble, there are many.

[TheCount]

Only a matter of time until Peter Schiff was Right part two is made.

Seven of the threads on page one of this forum have the word Schiff in the title. (23.33%)

[stuntman stoll]

Seven of the threads on page one of this forum have the word Schiff in the title. (23.33%)

Schiff is the Man