Peter Schiff: "In many ways, it's going to be worse than the Depression." • Hacker News Board

Re: Peter Schiff: "In many ways, it's going to be worse than the Depression."

#21

Post by davidw » Thu, Jun 12, 2008, 8:46 PM UTC

sridharvembu wrote: post #19

I upvoted for this. I take Peter Schiff very seriously. He has been right on housing, right on gold/commodities, and he is coming from a very fundamental point of view. I have been a fan of the "Austrian School" of Economics (Mises/Hayek/Rothbard) also known as the libertarian school, which is where people like Schiff come from. Do yourself a favor, and read up about it before you dismiss all of that as pointless doo…

Please don't. This site isn't about economics, or politics for that matter. If you want to discuss extremist economics (or any economics not strictly related to startups, for that matter), reddit would work out better, between the "Austrian" types (of which there are none here in Austria, but plenty there), and the far-left types.

Re: Peter Schiff: "In many ways, it's going to be worse than the Depression."

#22

Post by ConradHex » Thu, Jun 12, 2008, 8:51 PM UTC

Whenever I worry about working at a startup during an economic downturn, I remember reading about HP, which was founded during the depression.

Re: Peter Schiff: "In many ways, it's going to be worse than the Depression."

#23

Post by magus_pwnsen » Thu, Jun 12, 2008, 11:54 PM UTC

ConradHex wrote: post #22

Whenever I worry about working at a startup during an economic downturn, I remember reading about HP, which was founded during the depression.

A lot of great opportunities appear during difficult times. For smart people under 30, the coming "next Great Depression" is a boon. For as long as we've been alive, social connections have mattered a lot more than hard work and talent. That is going to change.

Re: Peter Schiff: "In many ways, it's going to be worse than the Depression."

#24

Post by gscott » Thu, Jun 12, 2008, 11:57 PM UTC

sridharvembu wrote: post #19

I upvoted for this. I take Peter Schiff very seriously. He has been right on housing, right on gold/commodities, and he is coming from a very fundamental point of view. I have been a fan of the "Austrian School" of Economics (Mises/Hayek/Rothbard) also known as the libertarian school, which is where people like Schiff come from. Do yourself a favor, and read up about it before you dismiss all of that as pointless doo…

The problem is the people who don't see this guy is dead on right.

The Fed is trying to get more money out into the economy but debt is eating it up before it can do any good. Now they are going to try raising interest rates to get more outside investment but were messed up by the EU also announcing there own interest rates may rise.