I bet ya a penny

This video of Peter Schiff debating Arthur Laffer back in 2006 has been making the rounds on the web.

Schiff was Ron Paul's economic advisor during Paul's run for the Republican presidential nomination this year. Paul lost that race, but just about everything he predicted has come true in the interim.

Paul's most depressing - in both the emotional and economic senses - prediction was that the U.S. couldn't maintain an economy based on the easy money flowing out of the Fed.

In this clip, Schiff makes that case in detail, while Laffer argues that everything's just peachy-keen and wonderful.

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