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19 thoughts on “How an Economy Grows and Why It Crashes by Peter Schiff ; Animated Book Summary”

  1. I love these kinds of videos. I've read the book myself and can say it is a wonderful eye opener that anyone can read and understand. Hopefully this video helps others understand you can't tax and/or spend your way into prosperity.

  2. The book seems to be putting Capitalism up on a very high pedestal without acknowledging the problems with monopolies and other pitfalls. It also seems to dislike government in general. Interesting.

  3. Peter Schiff shills gold. Why only gold? Why doesn't he shill for aluminum or copper, which actually have common, practical uses?
    Asteroids possess a lot of heavy metals. These same heavy metals have been pulled to the center of the earth by gravity. Once mining of asteroids becomes common, heavy metal prices will decrease in value. Also, once the world population peaks in 2040-2050 all assets, including tangible assets, will deflate in value. There's really no stop to the inevitable deflation from shrinking demand, which is coming.

  4. Smoke and mirrors. Without governement, we would be throwing stones at each other. No knowledge of history as far as I can tell. Government is not the only reason for the destruction of economies. It can play a part, but people are wealthier even when a government is lousy (other than maybe the North Koreans). When you don't understand why government is the catalyst of economies, you can't really figure out how the economy works and grows. Markets are only part of how the economies work.

  5. this video is so stupid. of course the government should not own buisnesses or abolish private proprety, because this would mean socialism(a shitty system). but in time of economic recession it should boost demand by deficit spending. i'm gonna explain this in a second. this video focus too much on production of goods(supply) as if it is enough to determine the economic conditions. it forgets DEMAND for goods and services wich is necessary because without it buisnesses would just create products witout selling them and make any profit. in times of recession it is created a vicious cycle in wich (because there is a drop in demand) industries cannot sell so they cut on production and jobs, in this way more unemployement is created and demand drops even more! the government should spend more money than it collects in taxes, increasing savings and demand. this will create DEBT, right? no, because in a country with monetary sovereignty government can create money witout borrowing them. now you will reply: "But this would lead to INFLATION!". well, absolutely not. 'cause the government then uses taxation as a tool of monetary policy, so it keeps the price stable.

  6. Reality check: You don't need 20 fish a day to satisfy your hunger.
    Reality check: Economic recessions are numbers on a board for some, destroyed families for others.

  7. Good effort but this goes over too many topics too quickly for the layman to understand. Jumps straight from fishes to money. Should emphasis that money is a derivative of risk taking, sacrafic, and savings. Peter does a better job explaining in the book.

  8. watch zeitgeist addendum from minute 4.  it explains money almost perfectly.also good documentaries: money masters, money as debt , banking the greatest scam on earth .  this video is a scam from the bankers to keep you enslaved to their interest on gold/paper / electronic money made out of nothing.

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