This interview with Peter Schiff is just one of the many occasions where the talking heads from the media and Wall Street shout crisis! crisis! crisis! In addition to the fact that the meaningless term “systemic risk” is used over and over (by everyone but Schiff), the term “a crisis of confidence” was brought up, as if that has any concrete definition. Of course, such a vacuous turn of phrase indicates that we can collectively assemble peoples’ thoughts and determine their outlook on a whole host of issues (take your pick) that fall under the “confidence” umbrella. Perhaps people could replace their “I voted” stickers with “I am having a confidence crisis,” or “no crises here.” Then we could do the democratic thing and have a crisis vote. Of course, once we decide something is a “crisis,” that opens the door to the obligatory solution, and only government can ever provide solutions. “Crisis,” then, becomes the doorman for a massive series of government interventions. Surely, King Obama will solve all our crises, including the ones that he – along with his establishment benefactors – will dream up.