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Peter Schiff predicts doom
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[QUOTE]Originally posted by Propertymanager: [QB] [QUOTE]the economic collapse we've had is due to one hellofalot of criminal behavior, and even more professionally unethical behaviour[/QUOTE]We have NOT had an economic collapse yet. In fact, we've only had one quarter of slightly negative GDP. The collapse is yet to come. As I said, you clearly don't understand what's going to happen, just as you didn't understand that the housing bubble existed or was going to burst. [QUOTE]allowing the big banks to fail today would put a greater tax burden on the people because we have the FDIC, but you are too simple to understand what that obligation is. the FDIC is also the reason that the banks didn't have ALL their deposits withdrawn[/QUOTE]The party is over. There will be pain regardless of how this "crisis" is resolved. The choice is to take some SERIOUS pain now by allowing unprofitable banks to fail; overextended homeowners to fail; and unprofitable businesses to fail OR to continue to borrow and print money from thin air; delay the coming day of reckoning; and GREATLY increasing the severity and length of the coming collapse. We have chosen the latter. [/QB][/QUOTE]
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