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Peter Schiff Video Blog - December 3, 2011 (Bank Bailout in Disguise, Jobs Data)



December 05, 2011 – Comments (1)

1 Comments – Post Your Own

#1) On December 07, 2011 at 11:17 AM, rfaramir (28.66) wrote:

Notes from video: 

reduced interest rates on dollar swaps.

bailout of banks, because 20 major banks were downgraded, BAC and Morgan Stanley included

won't change anything, more inflation, strangling real economy

too tight? The Fed set wrong example, ECB's success measured by how much they resist doing as the Fed. Higher interest rates would force governments to cut back on spending (due to higher borrowing costs), which is a good thing.

half the drop in unemployment rate due to people "leaving the labor force" (too discouraged to even try anymore). Much of the new jobs are likely temporary (holiday season).

holiday shopping is fueled by more debt, hurts us, helps foreign economies which actually produce our stuff.

created service sector jobs, but lost manufacturing jobs. problems getting worse.

worst Thanksgiving week in market since 1932.

inflation hurts everyone, even stock owners.

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