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Peter Schiff – The coming 2013 – 2014 U.S. crash will be worse than 2008
invite response
2012 Nov 21, 10:15am 63,697 views 178 comments
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deepcgi
2013 Jul 6, 1:12pm
“Buffett once pointed out that during the years 1964-1982, the stock market went nowhere, even though GDP quintupled. But from 1982-1998, the stock market went up twentyfold, while GDP barely tripled. There are lots of reasons to explain market moves. GDP isn’t one of them."
GDP is a meaningless metric. It is much like the way mathematics has become equated with science in our time. Mathematical proofs are not scientific fact. If Xeno walks halfway to the wall again and again, mathematically he never reaches the wall. In reality he does...at Plank Length. Keep staring at the graphs of gov spending and GDP and you're guaranteed to break your nose as you walk straight into a wall.
tatupu70
2013 Jul 6, 10:47pm
No Mr Fife, the budget comes from congress of which O'Neill was the speaker
which means that it was controlled by the democrats during all of the Regan's
term.
Just for the record--there is no such position as Speaker of the Congress. O'Neill was Speaker of the House and, as such, had absolutely no power over the Senate (the other branch of Congress)
indigenous
2013 Jul 6, 11:40pm
Just for the record--there is no such position as Speaker of the Congress. O'Neill was Speaker of the House and, as such, had absolutely no power over the Senate (the other branch of Congress)
The house is where the budget comes from. The 3rd most powerful person is DC is the speaker of the house. Remember Pelosi is the one who rammed Obama care through?
tatupu70
2013 Jul 7, 1:08am
The 3rd most powerful person is DC is the speaker of the house
I'm assuming you are using the Presidential Succession Act as the basis for "power". I don't think that's a good judge of power. Biden is definitely NOT the 2nd most powerful person in Washington.
Regardless, you need a quick refresher on checks and balances. A budget must be approved by both the House and Senate before being signed by the President.
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