Yup.
True dat.
Watch this tour de force from Schiff.
And yes, eventually, his prescription for this disaster will be proven correct.
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24 comments:
And watch this video of his from 2005
Man, dude knew.
http://www.europac.net/12onthemoney_lg.asp
and that's why Ron Paul should be president
Watch them re-inflate peoples 401k's through dollar devaluation. They won't be worth any more than they are now in purchasing power but sheeple don't mind bitching about "inflation" nearly as much as they freak out as the nominal $ value of their investments go down.
Houses will still fall in price.
Press Release - Nov 2008
The International Maritime Alcoholics Association wishes to express its profound disappointment at Peter Schiff's recent comments. We take strong exception to his claims that our occasional bouts of gambling and brothel-touring may be compared to the economic practices of the United States. We as sailors have steady sources of income which do not fluctuate according to our own spending. And since few are willing to extend us credit we are, theoretically, solvent.
We hope that in the future Mr. Schiff will refrain from slandering drunken sailors in this fashion.
Poor Peter.
To think he had to take the same stage and actually debate the likes of highly hysterical Douche DeGroot and Coo Coo-Ding Dong Caveman Adkins is just too much to stomach. Only on Fox, where, like the housing market, the bottom has yet to be reached...
Bonus HPers Question:
-If you were driving your vehicle and saw DeGroot or Adkins directly ahead of you in the crosswalk would you step on the gas or the brake?
Thought so.
Don't worry RealWhores, you'll be back on your knees in No Time.
Thank you, Peter Schiff, Prof. Nouriel Roubini and most of the time Prof. Paul Krugman.
Oh Yes, also, a huge Thank You to the Master of Mayhem, George W. Bushco and his band of K street thugs. No one but you could have gotten everything wrong in an unbroken 8 year string of disasterous decisions that Killed the America Dream and motgaged generations yet born.
No terror attacks since 2001? With George and Dick steering the country down into the ditch, why would our enemies bother attacking?
Now George, pardon the whole crew. All of them. That's your legacy of shame, doom and failure.
America, Turd World Nation of Nothing.
Nice to see Greedspan, Baldo Paulsen and Bearded Bernanke dissed and disrespeced as they should be.
Also, needless to say, Bushco the clueless dissed again. 9,000 foreclosures EVERY DAY. That's a lot of misery you caused, George.
America, Ponzi scheme Turd World Nation of Nothing.
Idiots. They should have been RealWhores or Buick dealers from Cincinatti.
GM: DEAD. Chrysler: DEAD.
UAW: Toast. Roasted, Skewered. DEAD
Ford: Survivor. Buy Ford. You'll thank me soon enough.
You gotta admit Peter has a full set of handy exemples when it comes to explaining how screwed we are.
I think Peter Schiff is one of my top ten favorite people of all time.
His poise and candor are stuff of legends. I've only known about him for about 8 months now, but I am hooked. He's not right about everything and he's been very wrong about foreign stocks and gold.... so far.
His message will never be lost, however. True genius is rarely understood in its own time.
It's a shame that the truly smart people in this world are rarely, if ever, the ones in charge. This man should be in Washington D.C., but he never will because that's just the type of world we've created as an ignorant, self important species.
Schiff's is a very egoistic person. Having lost plenty during this year he is still carrying on with his flawed world view.
He underestimates the strength of US Economic and Military power. He seems to think that world other than US is efficient. If that was so US Dollar would not be rallying in times of crisis.
Those fools who will follow him with end up loosing even more.
Good Luck.
Fuck it, shoot me up Ben.
Schiff's is a very egoistic person. Having lost plenty during this year he is still carrying on with his flawed world view.
-------------------
Flawed? Give me a break! His world view is bang on.
Americans have been benefiting from their reserve currency position for 3 decades now.
His bet is that this won't last. The US is still grasping at straws but history has not been kind to Empires.
"pixie stick said...
and that's why Ron Paul should be president"
Keith, please, stop this already.
Thank you.
DIE U PIGS
"yoski said...
Fuck it, shoot me up Ben."
Poetry. ME next...
DIE U PIGS
"Anonymous said...
Schiff's is a very egoistic person. Having lost plenty during this year he is still carrying on with his flawed world view. "
IDIOT. Karl Rove has moved over from HP and is trolling here now?
Beware. The build Gulags and FEMA camps for opinions like these...
Censure Bushco and Cheney. Time is running out fast to incarcerate them.
He underestimates the strength of US Economic and Military power. He seems to think that world other than US is efficient. If that was so US Dollar would not be rallying in times of crisis.
Wow, what world are you living in. The same world where building a hamburger is a manufacturing job? There will be another war, we will be fighting the Chinese by extention we can assume they will not be buiding our tanks. Tanks???? where will we get the money to build the the tanks??? Maybe from the Chinese???? Schiff has always been right because he simply deploys common sense. Where's yours???????
Peter is right on.
Beautifully said.
"The Strength of our US Economic and Military Power"??
You must be one of the many military personnel I say walking around in the Marriott down in Playa Del Rey - all on tax-payer's expense.
Anonymous said...
Schiff's is a very egoistic person. Having lost plenty during this year he is still carrying on with his flawed world view.
He underestimates the strength of US Economic and Military power. He seems to think that world other than US is efficient. If that was so US Dollar would not be rallying in times of crisis.
Those fools who will follow him with end up loosing even more.
Good Luck.
I like Schiff and also think he will eventually be right, but you can't ignore how wrong he was on decoupling which resulted in big short term losses if you invested with him.
He's lucky that no one has called him out on national tv about the huge losses his clients have taken.
One thing I'll say in his defense is that nobody predicted the factors which caused some of his predictions not to pan out.
And unlike people like Connie De Groot, when the announcer says "you've been right" he doesn't start out with "absolutely, Ken". He admits the truth. There's little room for self-deprecation in the bully culture which has taken over television news.
Finally, the truth is that his predictions may come to pass - just not as soon as we thought. If you're truly positioned long on commodities and foreign equities you may still have gains to make if you don't pull the ejection handle. I've watched my long position on metals extraction get hammered by hedge fund selling, but I'm confident that it will return like gangbusters at some point in the next three years.
History will tell.
Peter Hollin said:
"One thing I'll say in his defense is that nobody predicted the factors which caused some of his predictions not to pan out."
------------------------------
Roubini did. He has been spot on.
Great bit by Mr. Schiff, I don't follow him enough to know how spot on his predictions are, but if he has enough integrity and nerve to claim that the recession is a good and necessary thing, he's ok in my book.
Its scary how many people still want to believe that the economy of the last few years was "normal", its too bad the gov. doesn't have the nerve to say what Mr. Schiff is saying.
Unless Laura is planning to move by herself, George Bush will be selling the fake ranch, and moving to Dallas. I wonder how much he will be asking? It will be over a mil, and it will sit for months with no offers.
Thanks for the correction, Lady Di. I'll be sure the check out what Roubini is saying.
Roubini is worth following. I recall this summer when oil was $150/barrel and headed higher thinking Roubini was CRAZY for calling for $50/barrel by the end of 08. The man is consistently right. Having said that, I don't agree with his Keynesian solutions - throwing trillions at the problem to make it all go away. However, even Roubini will say that we face a dollar crisis at some point in the future.
And again, I like Schiff. I read his book, met him in person, love that he is a Ron Paul supporter.
I agree 100% with his free market solutions. But, he appears to desperately wants all of this to play out as he wrote in Dollar Crash, and it isn't. I think it will at some point, but not now.
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