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Peter Schiff Speaks for 1 Percent at Occupy Wall Street

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October 27, 2011 – Comments (13)

13 Comments – Post Your Own

#1) On October 27, 2011 at 1:04 PM, jwebbzor (< 20) wrote:

Normally I am a Schiff fan, but this display was pure arrogance.

Peter does seem to have the misconception that the entire occupy wallstreet movement is anti-capitalist, and he seemed to ignore people that told him otherwise.

Despite what Peter says at 0:25, he is not trying to find common ground. Peter was clearly trying to argue with people, he doesn't want to understand their point-of-view... He wants to discredit it.

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#2) On October 27, 2011 at 1:46 PM, leohaas (32.74) wrote:

In this case, Schiff sounds a lot like Marie Antoinette in 1789.

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#3) On October 27, 2011 at 2:32 PM, JackCaps (25.25) wrote:

A classic Schiff clip. Whether you love him or hate him, he's been a consistent proponent of free market capitalism and an opponent of crony capitalism.

I thought that he also gave sufficient time on the microphone to those with opposing views, even those advocating socialism. In the end, he had most people in view raising their hands for capitalism.

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#4) On October 27, 2011 at 3:16 PM, MyDonkey (< 20) wrote:

Peter uses the same old flawed argument that government is to blame. In other words, he blames the puppets for a bad puppet show.

Politicians are just puppets of large multinational corporations who tell the puppets what to do.

Here's how it works: through the process of lobbying (another word for legalized bribery) politicians accept $millions from Big Banking & Big Business in exchange for $billion worth of contracts, favours, subsidies, bailouts, corporate-friendly laws, convenient tax loopholes, and lax enforcement of regulations.

Complaining to Washington is barking up the wrong tree. The Occupy Wall Street protest is exactly where it should be - in New York where the puppet masters do their business.

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#5) On October 27, 2011 at 4:21 PM, leohaas (32.74) wrote:

#3: wow, you are way off.

OWS is against crony capitalism. If Schiff were truely against crony capitalism as well, he would be supportive of OWS rather than seek confrontation. 

That is the big problem I have with the Tea Party: OWS is very much like them, yet the Tea Partier just don't want to hear that. That's a shame, because together you might actually achieve something.

#4: Well said!  Too bad the Supreme Court in this great nation disagrees with us...

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#6) On October 27, 2011 at 6:51 PM, outoffocus (22.85) wrote:

I agree with Mydonkey... What we have is not "free market capitalism" its more like corporate fascism.

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#7) On October 27, 2011 at 7:38 PM, outoffocus (22.85) wrote:

The dude at 9:30 hit the nail right on the head.

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#8) On October 27, 2011 at 11:03 PM, addikt06 (22.80) wrote:

Peter Schiff is crazy. It's like he learnt absolutely nothing from the mess of the last decade. Lack of regulation leads to greed not betterment of society. If it were up to Peter Schiff, we'd have 0  rights (because it is cheap and therefore more profitable for the capitalist) and coporate abuse would be rampant. History is a great teacher. Take a look at how awful conditions were before workers had proper rights... unions didn't drop from the sky one day, not that I am supporting unions.... in Schiff's bizarro world, the guy owning the company LOVES his workers SO MUCH that there's no way he'd treat them unfairly.... right.

Schiff's other brilliant comment -- let the banks fail shows how little he understands economics. The reason banks had to be bailed out was because if they went under the common folks who had nothing to do with this would also go under. This would cause a depression and would set the world back for decades. He doesn't understand, the banks blackmailed everyone, if you want to prosecute anyone prosecute the aholes at Goldman Sach's who made billions screwing everyone.

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#9) On October 28, 2011 at 5:52 AM, FleaBagger (29.75) wrote:

MyDonkey - the problem is that those puppets run our lives. If we stopped obeying the puppets and giving them power over us, the ones pulling the strings wouldn't have much pull with us.

jwebbz and leo - you two are just hating on Schiff. This video clearly showed Schiff trying to have a respectful discussion with OWS protestors, and if there was anything rude or disrespectful about it, it was simply that he did not always have his mic hog instinct in check. But it wasn't atrocious. He listened a lot more than you did.

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#10) On October 28, 2011 at 6:35 AM, johnbeech (< 20) wrote:

Remarkable segment, and rather brave of Schiff in my view.

His expousing corporate taxe rates should be zero makes perfect sense. Why? Simply because prices would be lower. This is fairly obvious on inspection since no corporation really pays taxes because they are just another cost, which is passed on through to consumers within the price of the goods.

Moreover, I rather suspect if the corporate rates were set to zero we would have many more corporations moving to the US than are leaving. What am I missing?

All in all, an entertaining 18 minutes. Good job.

Thanks for sharing this video clip.

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#11) On October 28, 2011 at 6:43 AM, GVinvesting (97.02) wrote:

For the record, wealthy Europeans go out of their way not to pay taxes, by setting up trusts in tax havens like Luxembourg and Monaco.

It's difficult to argue with Schiff because he uses logic to draw conclusions, whereas everybody who was arguing with him seemed to be making emotional arguments.  You know you've lost the argument when all you can say in response is "you're an idiot."

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#12) On October 28, 2011 at 10:23 AM, PeteysTired (< 20) wrote:

 MyDonkey

Politicians are just puppets of large multinational corporations who tell the puppets what to do.

Are the politicians puppets of the education establishment as well?  I can't for the life of me figure out how in my area education spending keeps rising despite falling tax revenues.

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#13) On October 28, 2011 at 10:57 AM, whereaminow (22.06) wrote:

Politicians are just puppets of large multinational corporations who tell the puppets what to do.

So let me get this straight. The state, which has a monopoly of force over every person in the country, a standing army of 1-2 million soldiers and military spending that dwarfs anything a multinational corporation could bear, its very own printing press to create money out of thin air, and more jails and people in jail than any demented capitalist could dream of.....

is simply a group of puppets?

Or are the intellectuals that apologize for the state playing possum....

David

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