Schiff 1, US Economy 0

This aired on Fox on December 16, 2006. Everyone had a great time laughing at Peter Schiff when he predicted that our borrowed wealth and false sense of prosperity would blow up in our faces come 2007. Now, there's very little to laugh about when it comes to our economy. Watch this clip:


So this whole debacle could have been prevented - it's not like Schiff was the only person in America privy to this information. Other Washington economists knew what would come of our borrowing, but no one listened. We are going to pay for the poor business practices of others with our hard-earned dollars. Furthermore, I don't trust anyone in Washington to create a plan that will actually rescue our economy. It's far more likely that this "bailout" will only postpone a far more devastating crash. I agree 100% with Congressman Paul on this one.

An example of how bad it's getting: At walgreens just a few days ago, I purchased 2 prescriptions (with fabulous insurance, co-pay only twenty bucks) hairspray, face wash, nail polish and disposable razors for $103.00. A fuckin hundred bucks! Outrageous. So, I'm no longer buying high-end cosmetics, getting meat from the grocery (mine comes from the farm), eating out, drinking out and road trips. I am going to splurge on a weekend at Keeneland here pretty soon, but aside from that I'm pinching my pennies. :-)