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News Link • Politics: Republican Campaigns

GOP Elects Wrestling Queen Over Schiff Who Predicted the Financial Meltdown

Not a shocker… just a disappointment that once again illustrates the reality of politics in America. The millionaire former head of WWE, Linda McMahon, won the Connecticut GOP primary last night– having outspent her opponents and enjoying name recognition from her wrestling celebrity, as well as having the GOP establishment behind her– beating out Peter Schiff. Schiff is the CEO of Euro Pacific Capital. He predicted the current financial crisis, appearing on numerous television shows years ago warning that the United States economy was heading for a meltdown while being laughed at by mainstream media pundits, many of whom advised viewers to invest in firms that ended up going bankrupt. In 2006 Schiff was even challenged to bet a penny that there was no risk of a recession by former economic advisor to President Reagan, Art Laffer, who had accused him of being “way off base” in his predictions. Since then not only has that recession come, but it’s now being classified as a depression. Though the GOP portrays itself as the party of family values, Linda McMahon’s business glorifies brutal violence (including violence against women), and has been accused of encouraging steroid use of its wrestlers. McMahon spent $22 million on her primary campaign and has pledged to spend even more in the general election. Promising to be a “voice for change” Linda McMahon will go on to battle Democrat Richard Blumenthal for the Senate seat.

7 Comments in Response to

Comment by Mike Renzulli
Entered on:

Insulting people for making their choice in a primary or for any other election is not going to solve the overall problem of the irrationality of American politics.

The root cause of the problem is the way in which candidates are chosen. Change the manner in which candidates are selected via ranked choice voting and many of the sound-bites and negative campaigning will go away.

I suspect that Thomas Sowell may have touched on the way in which politics works in his book "Knowledge and Decisions".

Rather than bitch and moan, it's better to try to understand where the electorate is coming from.

Comment by James Arft
Entered on:

I don't think Peter Schiff was able to capitalize on the Ron Paul base as his foreign and war policies were too establishment.  This translated into less enthusiasm and money from Ron Paul people.  Furthermore, his apparent position on a real investigation into 9/11 was lacking and mocking.  Schiff has a lot to learn.  There is more to life than investments.  

 It is a shame there are so few good candidates who really understand the big picture.  Why can't there be more Chuck Baldwins? (for the uneducated he was the Constitution Party's Presidential Candidate, Chuck Baldwin Live) 

Comment by Anonymous
Entered on:

 This just proves that the majority of Americans are STUPID and don't  know anything if they haven't seen it on TV. Two words for them, BRAIN DEAD.

Comment by Mike Renzulli
Entered on:

The reason why Schiff lost was that it wasn't that his message wasn't accurate it's that he was a logical, rational candidate running in a race that isn't based on that.

The U.S. political process is just that: irrational. Expecting logic and reason to apply in the field of politics isn't going to work until the public is ready to accept it.

Also it doesn't help any that ranked choice voting isn't in place because with the winner-take-all method, the deck is stacked against candidates like Schiff in party primaries and the LP in general elections.

These factors are also the reason why the Libertarian Party hasn't been able to elect people to office above a mayor located in a rural town/city in Florida or a judge appointed in a district court in AZ.

The way to change people's hearts and minds is to work to change the culture through education. Once the populace embraces reason and rationality then the politicians will follow. The politicos reflect the irrationality of the people that elect them. Not the other way around.

Comment by Tyger Gilbert
Entered on:

Incredible! Peter Schiff predicts exactly what is going to happen, while all the so-called experts are laughing at him before everything crashes. And then he loses a political primary to a lady wrestler? The voters there are idiots. He should be President, NOW! Until the country gets someone like him in the White House, the disaster and dispair will only continue.

I'd like to see a video of Schiff debating the current situation and what will happen in the future with these same clowns today. Show them this video and ask them, "So what happened? How could you have been so wrong and Peter so right? What was it that you didn't see or believe that he knew all along?"


Comment by Powell Gammill
Entered on:

This is why those who continue to believe the GOP will save them from the recession/ depression live in a TV fantasy island. They will continue gratefully lapping up the Koolade until the lights go out.

Comment by Ed Vallejo
Entered on:

 The Tree of Liberty is a cut off and burned-out stump, with a TV on it, blaring away it's nonsense...

"What's the score?"

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