Friday, April 8, 2011

John Tamny calls me a fool!

Here's an email I just received from John Tamny after I asked him again to explain why private savings have exploded since the deficit increased. This went against his argument that government can only spend by "taking from people"

Here's what he wrote back:

"I could give a rat's ass about deficits, but spending does bother me.

After that, you might let people finish their points on occasion rather than engage interrupt every single comment by the person next to you with non sequitur. Savings always rise when the economy is experiencing difficult times. Look at the early '80s. What people like you miss is that in total savings are down given all the wealth lost thanks to all the spending.

By your absurd reasoning, governments should spend with abandon to get savings up. I guess then we could abolish recessions too so great would savings be due to government waste.

After that, please delete my e-mail. I suffered you enough last night, but the beauty is that I wasn't the only one embarrassed by your horrid performance. Indeed, it seems I won't be seeing you around the studio anytime soon. Good. I can handle fools, but when they're so deluded with their nonsensical notions of the world such that they talk over the other guests, I become a bit perturbed."

I don't know if I can take it anymore. Seriously, these people are crazy.


Unknown said...

What a lunatic.

Tom Hickey said...

The power of a made-up mind.

Conservatives hate government unless it is putting money in their pockets or the pockets of their causes.

mike norman said...

I don't know what he is referring to when he says, "I won't be seeing you around the studio anymore..." Actually, I will be back "at the studio" today. Maybe he decided not to come back as a guest. Who knows?

googleheim said...

Does anyone know if the reserves are swelling at the Fed and Treasury ?

Are they purposefully staying course, increasing or down ??

Anonymous said...

He ran out of arguments. Let him believe whatever he wants to.
Cannot change the minds of Peter Schiffs of this world.

Matt Franko said...


Looks like swelling:



Tom Hickey said...

"I won't be seeing you around the studio anymore..."

Sounds like he is refusing to appear with you anymore.

Good riddance.

Mario said...

this could have been a letter written to galileo, or socrates, or kopernicus, or columbus, or einstein, or edison, or newton or so many great innovators and thinkers that actually looked at what was in front of them and reported what they saw and how they saw it function.

It's just amazing how emotional bias can completely destroy mental faculties.

Glad to hear you're still on at the studio. That's good for everybody and I like that. ;) I mean I can't blame the guy...I wouldn't feel too hot about getting completely obliterated on national television either...but then again you get what you deserve when you say stupid least that was the whole point of journalism in the beginning. It's so funny how everyone wants to be "respected" regardless of the b.s. and verbal garbage and intellectual damage they tout around freely on the press. It's just insane.

Anti said...

This guy just looks evil and I'm not writing this out of any bias. Seriously.

Joe said...

Ha! you got the best of him, Mike!

I'd rather have Tamny "see the light" than run away like a child. His complaint about you talking over him is really quite pathetic.

googleheim said...



with a government shut down

i am increasing the bank run from 1% chance to 20% chance

you heard it first here ....


theworldhaschanged said...

You want crazy. Here's crazy... no sorry, let's just settle for lame. View your lame performance with Peter Schiff where you laughed at him and ridiculed him on National TV while he correctly predicted the biggest financial meltdown since the Great Depression. He discussed the "artificial lending standards" in the home mortgage industry and you remarked "I have no idea what you are talking about" and laughed at him.You LAUGHED at him! Now let's all review your prognostications at this link. You may not be a fool, but laughing at people who correctly disagree with you is lame self-aggrandisement. So tell me again what's wrong with the Peter Schiff's of the world.
Here's your dose of humble pie...

Mario said...

personally...I like those vids by Schiff even though I think the guy has gone off the wagon for the past 2-3, 4 years now. But I respect the guy for saying that and standing up there. His reasoning made sense then with the sub-prime and securitization, etc.

However his "reasoning" for cutting government spending and the way inflation would come about in our economy is just not accurate, misleading, and dangerous.

He may now get what he's been preaching with such huge cuts in government spending but that's a major issue we talk about here and explain the insanity of that.

I do think it's a smart idea however to be somehow invested in the case of a deflationary time period the likes of Japan if these anti-government politicians/loonies get their way...however gold is NOT an's a trade whether that's a position, swing, day's a trade. It can drop and I am looking at this summer to see a potential reversal or at least retracement in gold/silver. Just my thoughts.

The big/huge issue with Schiff is gross economic his inaccuracies, his terrible portfolio management, and his angry/insistent/uneducated manner and public presence.

Just my thoughts on the issue.