Economist Peter Schiff Announces Run Against Chris Dodd

Schiff is an economist of the ultra-libertarian Austrian school. This group is noted for an analytical approach to economics, and they are openly scornful of empirical approaches. They think their logic is so obviously right that they can ignore any evidence to the contrary.

It is also worth noting that he was the chief economic advisor for Ron Paul last year.

Absolutely amazing, it is, at the orthodoxy of these free-market loons.

We are just a few short months away from what was the largest financial collapse the world has ever seen because there were no regulators over big corps and because the free market was allowed to run wild with bubble economies.

Yet they're gonna run candidates based on the exact same formula that got us into this mess???

Schiff during his appearance this morning on MSNBC, came off sounding like a complete moron. His answers were rhetoric and his logic went all over the map when considering the nations future versus getting thru his RNC's talking points of the day.

At one point in his time on the air, he was queried whether or not he was actually LOSING MONEY for his current client set - YUP!!! Sure enough..He bangs on Dodd for being the example of the 'poster boy for the economic crisis' in DC. He came off sounding like a complete start-up...No experience..real bad ideas...reads RNC propaganda ok...lies good...probably has a few influential friends at his token church... and needs to catch up with the times..he's still living in 2002. His huge up-side pitch is that he alone can guide the US economy back to health by getting the government completely out of the 'free market'..Sound familiar?? Didn't chimpy and karl use that same discussion during their time in DC right before the huge meltdown?? What a loser..

He also made a point that if the US has worked thru the latest relying on the 'free-market system' alone we would have been fine....right..we would now be trying to find a way to start cooking fires in the Connecticut woods having been yanked back to the Iron age by a complete collapse of the world economic engine..this clown is dangerous....

I think his book title says it all: Crash Proof: How to Profit from the Coming Economic Collapse. Translation: I'll Get Mine So FU: How to Profit Off of Other's Misery. Yep, yep, that would be who I would want to represent me in Congress. I don't get these guys. They say government is the problem, yet they want to be a part of government. Of course, Joe Scarborouh threw him nothing but soft balls and didn't challenge him at all. And Willie Geist is a cipher.(That has nothing to do with this post, I just had to throw that in for good measure).

Libertarian free market philosophy would only work in a world in which all players are ethical and don't cheat. Oh yeah, all actions would have to be 100% transparent so the vaunted 'market' could weed out any rulebreakers.
Pie in the sky nonsense.

A lot of Schiff's advice over the last few years involved investing internationally because American companies were going belly up. I can't imagine that will play well with most voters.

The pigheaded profit at any cost guys are really trying to keep things just as they were before the crash, largely because they thought they knew how to profit from it. Some have, like the Wells Fargo VP who foreclosed on a So Cal mansion and then used it for her private getaway and party place.

As Bush unfolded his policies I used to tell people, "He's trying to Argentina us." That 'ownership society" was a way to transfer more wealth from the poor to the already rich.

But in the eyes of a Schiff: that's the heart and soul of capitalism