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Nov 18 2012

Fiscal Cliff Isn’t Steep Enough

If we want a government this size, we are going to have to pay for it. Not even Obama’s planned eat-the-rich looting spree will be enough. For the kind of government we have now, everyone will have to be looted. Peter Schiff, Euro Pacific Capital CEO, laments that not even the Fiscal Cliff will provide a sufficient course correction:


Alternatively, we could have cut the federal government down to sane dimensions. But the catastrophic election eliminated that as a near term possibility — and America no longer has a long term.

On a tip from Ghost of FA Hayek.

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  • Bo-Jangles

    It doesn’t really matter. America will not survive the next four years. Not the America we’ve all known and loved, worked hard to build, and fought and died for. That America is dead. And, as history will show, it was killed by it’s own people.

  • Rich

    U.S. economy was destroyed consciously..
    Beware of who will arise after collapse and ruin..

    http://www.youtube.com/watch?v=u0m6Sy7DTrY

  • KHarn

    We need to give ALL current polititions and potential canidates a 6th grade ecconomics, civics test and a COMMON SENSE test before alowing them to hold office. The former two tests should be those from c1960, a year when American students were actually EDUCATED with usefull information.

  • Eric J Schlegel

    Every civilization goes through growth, prosperity and then collapse. Why should we be any different? After the parasites are starved to death, another system will be rebuilt from the ashes. All of this has happened before, and will happen again.

  • KHarn

    “Eric J Schlegel says:November 18, 2012 at 9:41 am”

    In short, you are saying “horay for communism!”.

  • Beef

    He makes a good point. If people actually had to pay the taxes that should come with their spending decisions, maybe they would vote differently.

    The way the democrats get away with it is to call for taxing a tiny, symbolic minority, and finance the great bulk of deficit spending by silently stealing everyone’s wealth by printing money. The middle class pays for it by having the value of their 401K’s and their homes cut in half, but they are too dumb to notice.

    But at least at somepoint we’ll all be equally poor, ants and grasshoppers alike. “Fairness” uber alles.

  • Highway Hospital Student

    America is dead. Schiff is just saying that we need more dirt in order to bury it faster.

    There’s no going back to America. America is people. And liberals have irreversibly changed the demographics.

    European liberals did the same thing by opening their country’s doors to muslims.

    Now both sides have unsustainable spending mandates accompanied by parasites on the receiving end, hostile to their host countries and the people who built them.

    Forget it.

    This from the Peanut Gallery: If you have any bonds, mutual funds, cash or property, liquidate and get out of this doomed country asap.

  • Alan

    Peter Schiff in 2016.

    Either raise taxes for everybody, cut spending for everybody, or print up paper money which would be a little of both. But something has to give.

  • Louisiana Steve

    We are a country of the majority. The 47% have spoken.

  • Dr. 9

    Sadly, we all know that America is going to collapse. Any fool could have seen this coming for generations. Since the mid 60′s, and thanks to LBJ, America has been a socialist country, taking from those who work and earn wealth, and giving it to those who simply want it but do nothing for it.

    Leftist Demoncrats have created a population of parasites who do nothing for our society except to produce more parasites and demand more of everything from those who work and earn what they have. How long did you think that could go on?

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