A Manhattan Co-Op Hyperinflates Babysitting Coupons

BY GREG HARDEN

In this video, Austrian economist Peter Schiff cites the experience of a Manhattan co-op that issued coupons as a means for sharing baby-sitting services.

While excoriating Paul Krugman, Peter humorously demonstrates that printing money creates inflation and bubbles rather than wealth or prosperity.

The collapse of the babysitting market in the co-op provides an insightful parallel to the housing bubble and may portend future troubles for the U.S. and world economies.

This is a must watch!



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