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Peter Schiff was right
Monday, November 17, 2008
Gotta hand it to Peter - in hindsight, he was soooo right and all the others were soooo wrong in all those TV appearances over the last few years.
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12 comments:
GS at $175 "Like buying Dolce & Gabbana on sale". Today it closed at $62.
Wow. I remember watching these segments back then but it's so much more profound today.
Good Lord, what a moron Art Laffer is! It's hard to watch a former Presidential adviser make such an utter ass of himself knowing that the current Presidential advisers are from the same family of clowns.
Further, Tom Adkins and all the morons on Fox News who were laughing at Schiff should be forced to grovel before him on national TV and then banned forever from opening their lying, stupid mouths publicly.
Good God, how can anyone with a brain listen to these losers after this? Surely these talking head stock 'experts' should be shunned. Sadly, the public will continue to listen to their Bravo Sierra until they're evicted and on welfare.
Schiff has been right all along and frankly it's not that hard to have seen it coming. MANY of us regular Joes saw it coming while the experts and PhDs were caught with their pants firmly around their ankles.
God help us all!
Let us hope that someday Peter will be wrong, because he is still predicting a lot of hurt coming our way.
And it is surprising that the "experts" didn't see this coming. I'm no expert but I was worried enough to take on a second full-time job in late 2005 to save up a 50K "layoff fund". I made that goal, but just barely as the bottom began to fall out of the economy. One of those 2 jobs is already gone and I'm hoping the other one holds out.
Peter was dead on when this video was shot, but he is wearing a little thin on me currently with his unblinking free-market-good/socialism- bad meme. Please don't tell me again how it was all the Fed's fault in the '30s and how everything would have been hunky-dory now if the regulators had just let the invisible hand work as God intended. This is the old "if grandma only had wheels, she'd be a school bus" argument. The free market creates imbalances and excesses, and then government has to come along and clean up the mess - and take the fall for the umpleasantless caused by the imbalances and excesses that created the mess in the first place.
Bravo for Mr. Schiff.
The montage of video clips has a lot to say about the competency of most investment "advisors".
fat tail, I think you are at the wrong website. The daily koz isn't here.
We've had nothing even close to free markets for a while now.
And it's laughable to think govn't that can't run the post office or DMV or garbage collection can "fix" anything.
Financial commentary on TV is primarily for entertainment anyway. No real surprises in this video.
What's Euro-Pacific's ROI?
fat_tail_rider
The sooner you learn that the MARKET does not create any excess only government and central bank fiddling does!!
Jeese Peter was right about this BECAUSE he studies Austrian economics and it is 100% dead on right.
The "experts" are all taught Keynseian economics just like most of the public and ALL of government and it is just plain stupid!
We have NEVER had a free market in my lifetime. As a matter of fact we are MORE socialist then Hitler ever dreamed of being, and between that and government greed and incompetence a very easily predictable BOOM BUST cycle has occured.
Peter is not a genius he just knows the difference between horse pucky and horse sense.
Austrian economics , free markets , and liberty are the ways to happiness and prosperity for any nation. The founding fathers knew that and tried to warn us, we did not listen.
Keynesian economics , socialism , big government , central banks are all ways to debt depression slavery misery and poverty.
The choice is ours and for the past 80 years or so we have chosen the latter.
Now the bill is comming due.
The free market is timeless and perfect it causes balance, but it is not something that you can learn in a sound clip. It takes time study and a basic understanding of human nature.
Bailout 2008, a poem by David Jeffrey from Canada
Like a bloodied warrior,
laying broken and torn.
Like a dying soldier, hopeless and forlorn.
But the blood, it be green,
the color of money.
And the soldier is an economy,
and it is anything but funny.
Broken are it's people and shattered are their dreams.
Thanks to the ultra rich and their full proof schemes.
It is a tragedy with more pain to come.
Finance will be Hell, and their wills will be done.
As always in life, "experts" speak out of their ass, idiots shout louder than those who know something, the decision makers don't give a damn, and the hardworking average Joe gets screwed in the end. To think that so much pain could have been prevented all around the world.
fat_tail_rider,
tsk tsk.
economic misunderstanding is so sad. and very damaging.
anonymous ummmmm WHAAAATT???
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