If you're a student in economics, Peter Schiff is your best professor

When I took Macroeconomics in 2008 I argued these same concepts with my professor, who shrugged me off and told me I didn't understand enough about economics. Since then I have been studying economics by listening to economists talk, watching economics lectures online, and understanding politics. I thought I was missing some critical idea for years. But this lecture finally puts some authority on what I originally thought. Don't let school take away your ability to think !!

3 trillion? Those were the days.

Just say no to socialism/Keynesianism.

A 1 hour 16 minute speech, off the cuff, rapid tempo, no notes, no ..."uhhs"...of international scope and ranging over 80 years of history. Simply incredible!

Peter is the best individual on this planet to explain economics.

One of his best speeches.

Ive heard this speach 20 times, and still love to listen to it

i'm 23 yrs old.. I just started to study Austrian Economics. The amount of knowledge i've learned in the past 2 months, its ridiculous. It makes me sad that so many individuals choose not to try understand the world around them and accept things they KNOW ABSOLUTELY NOTHING ABOUT. We must keep fighting to get this general knowledge out there.

Thank you, Ludvig Von Mises Institute You bring true economics to the world through KZfaq, and I thank you for it. If it wasn't for you, Norwegian people would never have heard about Austrian economics.

Woke up hoping for a new Schiff podcast but found this gem instead. Brilliant.

7 years later.....Government hasn't learned anything.

This guy should be the financial adviser to the president.

"anyway... that's it." absolutely priceless, peter.

I am on my third time watching this in about as many years. This video is gold.

10 years later and nothing has changed

3 thumbs up... Great speech! "...The government is a burden on the economy." How it's not obvious to everyone has always stumped me.

More relevant than ever in 2019

What a phenomenal speech. I've been listening to this speech every month or so for the last two years just to keep a level head on sound economics.

One of the smartest speeches I've ever listened to. Remarkable thinking and wording/framing, including amazing facts and examples.

Watching this video over a decade later is still as refreshing as watching it for the first time. Sane, down to earth people like Peter Schiff and Ron Paul need to be running our government. God bless our souls.

Redirected from Peter's podcast. That was pure gold!

The fact that I learned more about economics in the past hour and fifteen minutes, than I did when I spent 4 years majoring in it, is absolutely ridiculous.

Lot's of epic quotes in here. 'There'd be a lot more due diligence if we didn't think the government was doing it for us' 'Housing prices are a function of rent' Brilliant.

This videa has greatly aided my reading of the Wealth of Nations. Thank you very much, Mr. Schiff.

I watched this.. and realized, I am just smart enough to realize I am screwed, but not smart enough yet to do anything about it.. It was a great informative video, but slightly depressing.

I just realized that watching the news is like watching a train wreck, but slower. You want to look away, but you can't.

Watching this in 2021 and it is really amusant. Chapeau!

Well. . . I live and work in Japan. . .but I am a US Citizen. I don't own a house (live in a small apartment), I don't own a car (just a small bicycle) and I don't buy brand item junk. Being a Christian, once it while I do help somebody out moneywise, but in general I try to be careful with my yen. I believe in SAVING money and investing it for something meaningful and hopefully profitable (like buying land ). In the future I would like to have a small business.

This is enormously important

Well deserved glory days for Mr Schiff, and you better believe these days are coming back…

This is the best antidote to the Michael Moore-style anti-capitalist rants about the housing crisis.

01:03:15 "The Federal Reserve is going to start buying our bonds, and there's going to be a currency crisis" Well, here we are two years later, and sure enough, Peter Schiff was RIGHT AGAIN!

In a free market that is true. But the Federal Reserve can and does manipulate the amount of credit in the system via its monetary policy. That's basically what the Greenspan Put was, an artificial credit expansion.

Thank you Peter Schiff for bringing reality to the masses....

It's amazing that what Peter Schiff is mentioning about real estate has been happening in Canada past few years!

💛🧡💚💙 Who else is watching in 2020? It's a shame 50% of the audience are now dead because they were 75 year old Boomers

This is a fascinating real life application of the Austrian Business Cycle Theory and Hayek's inter temporal dis-coordination of investment resources when interest rates are too low.

I have watched/heard this video so many times, and i still enjoy watching it, and find it very informative, and very predictive of what we are experiencing now. This man knows his stuff when it comes to finances.

Incredible. Very few people can make Austrian Economics understandable to someone like me. It's a shame that more people didn't listen to Schiff, Ron Paul, Jim Rogers etc 20 years ago. His speech in 06 to the mortgage bankers is equally impressive

Now THAT, was one of the best presentations I have ever seen. Thank you misesmedia - greatly appreciated.

holy moly, this one explained to me everything i didn t undertand in life... gj on this one

thank you sir for the education..

Yes very true you are right everyone should watch Peter they would learn a ton I know I have.

Please invite him back to the MisesInstitute !

LOL, this was a great presentation from Peter...One of funniest imo.

He is such a gifted speaker, he can explain even the most comlicated thing in the world with common sence and in a simple, entertaining, funny and inteteresting way at the same time. He is so easy to listen too..

This guy makes so much sense and communicates so clearly. Genius.

"Obama criticizes Bush but does the same things" The cycle is repeating itself

Schiff is about as sober and dead-on as they get...woe be those who ignore his financial analysis.

Peter has an uncanny way of taking complex subjects, and making them very simple to understand for the every day person.

I just watched this in May, 2020. Truly amazing Peter. My Bachelors Degree was in Economics. It was pure Keynes. Peter Schiff is the real economist.

I spent 4 years arguing Schiff's case with various econ professors and was told I didn't understand 'insert sector here'.

15 years later, and guess what.. everybody is buying everything on the internet...

Peter Schiff is just great. I love the way he articulates his explanations on the economy. Very intellectual.

He make this things really easy to understand. I salute you Peter!!!

Peter. I really enjoyed your talks especially when some of your critics get into really school boy antics and you keep your composure. I saw the one you had with Max Kaiser on cryptos.

Trump/Schiff 2016!

he nailed it at 37 mins in when he described the lending process: where the lender picks the appraiser who'll appraise for the value that will get the loan funded, and the appraiser relies on the lender for his/her business. Further, the builders own the title companies, realty offices, and now the lenders, and they just want the house off their books. They say "qualify" the borrower as if it is a verb to be applied to applicants rather than a quality that they do or do not possess.

Easily the best and most sensible vidio i have ever seen on KZfaq. This needs to be promoted to the front page for the world too see...

Peter Schiff is a legend

i really hope this guy isn't right but it sounds like he is.

Peter for President !

This guy is brilliant, in content and delivery!

How come the Chinese aren't referred to as "predatory lenders?"

Imagine what would have been possible if all the money put in GM was instead put to use by Tesla and Elon Musk!? Imagine that

It could be argued we are still in the 2008 recession

Common sense prevails. Every American should watch this!

40-41 mins: that was really funny.

The "borrowing from the Chinese" moment was off-the-wall hilarity.

Good stuff Peter!

Definitively one of Peter Schiff's best live presentation! It just makes more sense everyday.

This speech by Peter Schiff- informative, witty, funny, and sobering all wrapped up into one, is one of his finest, and well worth sharing even with those who are bored by economics. It really is a shame that so few people share his understanding and insights.

one of his top 5 speeches ever

Thank you.

Here in 2020 thanks to Peter's podcast today

Peter you make economics entertaining. Didn't think it was possible.

Epic... This has to be one of the best presentation / speeches I've heard.. I laughed and cried at the same time.

Peter Schiff is awesome.

These statements are the key critical statements that needs absolute scrutiny and be accompanied with corrective measures to ensure America's productive capacity, saving capacity, manufacturing ability, etc. 45:11because the government undermined are productive capacity 45:14undermined our ability to save 45:16undermined their ability manufacture and nurturing cultivated 45:20the consumer bubble that this service sector economy that we had 45:24s_l_ collapse 45:26and it's not government as we restore it 45:28we need we need free market forces 45:31the government right now 45:33every they're doing

Me too, I have also watched this so many time, still very enjoyable to watch. Peter Schiff is so incredible smart on economics, and if he doesnt win the Senate election im going to be very, very disappointed. Stop the Spending, vote for Peter Schiff!

Thanks LvMI.

Schiff showcases his sense of humor in this video. Overall this is one of his best presentations.

0 % interest rates for 14 years Peter. Thats why they appreciate. Love watching this while the stockmarket is crashing though. =)

Cheers for the post, awesome :)

Absolutley briliant speech on briliant analysis combined with easy metafores on a subject concerning anyone in the US and the world! How can anyone seriousley read papers or business-magazines if haven´t heard / watched Peter Schiffs speech?

This was very good. I enjoyed Peter's insights very much.

terrific! accounts for more of what is and was happening than the "conventional wisdom."

Absolutley outstanding use of my investing-time to watch this!

I watched this when he first posted it and I never noticed that. Good call!

This video needs to go viral. Perfect econ 101 lecture for us confused Americans with our backward economy. Send it to your friends

great speech peter. much respect

Yooooooooooo 🗣 from 40:15-42:30 is the funniest ever I've heard Peter 😂😂😂😭😭😭😭. Someone please make him president!! Kanita was here. June 6 2021 at 8pm cst haha

He's had a couple speeches that I've watched where someone tells him that he's over time, and he just says "well... thanks." It's a crash landing for his speeches, but the audience seems to love it. Great speech overall.

I'm rewatching this idk how many times, so good :))

Everyone lauds Schiff's economic prowess; it is clearly not in question. However, I never realized before watching him speak without interruption how excellent his public speaking ability is.

This is a classic lol. I come back to watch it.

Outstanding. Flawless economics.

Years of low interest rates have created another bubble. Not just housing, but an everything bubble, that is starting to show signs of bursting. Most of the things he said then still apply and the coming real estate meltdown looks to become worse than the last one.

Yeah, he does all his speeches off the top of his head. But remember, I think he is one of very few (if not the only) lecturer that doesn't have a scholarly background. He's always been involved in stocks and business, but his thinking and beliefs are in line with the Austrian School.