Peter Schiff versus Steve Liesman of CNBC on consumer debt

Steve Liesman (Lies man, LOL) says Americans need more consumer debt.

The interesting thing about Peter Schiff is that what he advocates would greatly curtail Jewish power. I suspect he doesn’t put 2+2 together — that if the world goes back to saving and sound money, the Tribe would simply lose massive amounts of economic, cultural and political clout. But it’s a fact.

Sound money would put a large share of control the economy back in the hands of the masses. Right now we have the perfect conditions for just about absolute control of the economy/culture/politics in the hands of a few oligarchs. Just about every economic transaction has a skim for the oligarchs. Even income tax and sales tax is skim for the oligarchs, because the government is their blank check. The only way to reduce skim to the oligarchs is to produce something and consume it or trade it via unofficial channels (black economy). Growing food is a very easy way to accomplish this. Also, reducing one’s consumption, buying less stuff, using less fuel, and taking that savings and buying precious metals and/or purchasing a working asset like a business or a rental property.

Consumer debt levels, according to the below youtube, are down to 1980 levels! That’s amazing, if true. Credit cards were only starting to be popularized in the late 70’s, early 80’s.

There are a lot of people looking forward to a sound money economy. They want to play a role in it, and elbow out the banksters. Here’s the youtube:


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12 Responses to Peter Schiff versus Steve Liesman of CNBC on consumer debt

  1. Consumer debt is down to 80’s levels?! I don’t think so. NEW consumer debt may be down to that level, but the problem with any debt is that one ends up still paying for debt incurred several years ago even if one no longer even has the item purchased with it. So, I believe that, thanks to the economy, anyone who was not forced into bankruptcy and foreclosure is seeing their reduced earning power trying to retire old debt. Thanks to the interest on that old debt, the banksters are still set up in the clover.

    Of course there is no discount for the working poor, so anyone who was forced into bankruptcy or foreclosure will have to pay more through the nose than anyone who never got in that credit trap to begin with, i.e. higher up-front deposits to rent lower-budget apartments, your-job-is-your-credit car payments on rip-off automobiles, etc.

    There is a lot to be said to simplifying your life by getting rid of all consumer debt and making sure that you only have stuff that is paid off. There is a lot more flexibility to living as far below your means as possible just in case life throws you a curve ball. Here is the two-part story of one inspiring family I found on Youtube when I was researching The Simplicity Lifestyle:

    • This is my favorite Simplicity Lifestyle Family, BTW, because they are still on a learning curve, because they never planned to do something like this. The economy forced them into this lifestyle.

      There were some rookie mistakes. For example, instead of using conventional doors that open out or in to space, they overlooked the efficacy of sliding/folding screen doors for the bathroom and the downstairs bedroom. If they had been able to buy an acre of their own land and put out a well and a septic tank, they could have planted fruit trees, put up a chicken coop, and raised some vegetables.

      However, despite the fact that her husband lost his job and couldn’t get another one, because he faced insurmountable age discrimination in the job market, and despite the fact that the economy also forced her to downsize her business by seventy-five percent, they discovered that they are still netting more income than they did before. Even to the point where they could seriously consider moving into a bigger home on more acreage.

      I love what she says about Cultivating Contentment. If people aren’t busy chasing bucks to buy junk, because they are happy with what they have, that leaves them more time to be creative and productive.

    • Anon says:

      “Consumer debt levels, according to the below youtube, are down to 1980 levels! That’s amazing, if true. Credit cards were only starting to be popularized in the late 70′s, early 80′s.” – the bad news here is that this debt reduction is coming from bad debt being written off, not from people taking control of their finances.

  2. Erin says:

    I heard an attorney the other day say (in so many words) to blow off your debt and use the money you were paying toward it to bootstrap a business.

    High moral values are for your own people, not international money usurers. Those jerks screw you every chance they get. You don’t owe them your labor, your time, your life. You don”t need their “credit”. It’s a trap. Live cheap, drive a clunker, it won’t kill you. Invest in your children’s future.

    If you are under-educated you can get a youtube education. Never have such complex ideas been better or more entertainingly presented. Need more than youtube? You have access to almost every book in the world on Amazon.

    Don’t give up on yourself and your bloodline. The coming chaos could be your greatest opportunity but you need to have a functioning brain.

  3. A.Ralston says:

    “The interesting thing about Peter Schiff is that what he advocates would greatly curtail Jewish power.”

    So too for other Jewish Libertarians such as Ludwig Von Mises, Murray Rothbard, and Howard Block.

    In the the case of Schiff versus Liesman, once again, White men sit in the back of a car careening dangerously toward the the cliff while their betters – two Jews – sit in the front arguing over who gets to drive.

  4. Nick Dean says:

    Does Schiff advocate sound money or Jew-gold money?

    Sound money isn’t defined by Jewish ‘Austrians’. It’s defined by what best serves the needs of White Americans in your case, or the English in mine, and so on. And that’s money we create ourselves and spend into circulation on public goods or loan at minimal costs to our fellows with profits being reinvested in our communities.

    • mindweapon says:

      Gold backed money would not be as easily manipulated, and an economy that can’t be manipulated so easily won’t be so easily controlled by the YKW. Austrian economics might not be perfect, but better than what we have now.

      • Nick Dean says:

        The Jews’ ‘Austrian’ economics may be better in some ways than what we have now, but it’s still far worse than the nationalist alternative.

        And one of the ways a gold standard isn’t better than what we have now is that it would be less easily manipulated. We should be the master of money, not the other way round. Manipulate away for the good of the people, I say. Fuck Holy Money … feed the people.

  5. eradican says:

    Consumer debt levels correlate with female social and economic empowerment. Women control 70% of all consumer purchases. Debt levels will never drop significantly because women just want more and more.

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