Peter Schiff on the Fannie/Freddie Bailouts

Part I (6 minutes)



Part II (6 minutes)



I wonder if this is spelled out simple enough for the average American to tear himself away from "lipstick on pigs" drama. Ah, nevermind - it's 12 minutes long. Far too much of an investment of time to understand what the government is doing to us.

What is sad is Schiff's gold/foreign markets strategy must be causing he and clients to take a bath lately while those buying lovely financials and retail are laughing since July 15th.

Here is a simple 9 minute video shown on CBS about the financial state in general, unfortunately it's on a show I am probably the only viewer under the age of 55 years old :) It was back in the old days of July when Freddie/Fannie were "free bird" and IndyMac Bank had just fallen. Ah... the good old days. A good example though of a town in Ohio and why the bottom 2/3rds of Americans are beginning to really suffer as "service jobs" take over the country. (remember, it's a regional recession - you folks in farmland and mining/energy economies are in a different spot)