Peter Schiff Was Right 2006 - 2007 [modified]
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This guy predicted back in 2006 that recession was coming. I just watched this video (a friend showed it to me). LOL! It's not what Peter Schiff says, it's how those people are laughing at him when in 2006 he explains why the housing market will collapse. Especially this guy Art Laffer - he bet a penny that there won't be a recession. Here's the link: http://www.youtube.com/watch?v=2I0QN-FYkpw#t=3m25s[^] [Edit] Here's some of the things his opponents were saying in the clip: "... monetary policy is spectacular ..." "... the credit crunch is way overblown ..." "... the subprime problem is a problem but it's a tiny problem ..." "... the financials as I keep saying are just super-bargains ..." "... like Merrill Lynch which is an astonishingly well-run company ..."
There is sufficient light for those who desire to see, and there is sufficient darkness for those of a contrary disposition. Blaise Pascal
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This guy predicted back in 2006 that recession was coming. I just watched this video (a friend showed it to me). LOL! It's not what Peter Schiff says, it's how those people are laughing at him when in 2006 he explains why the housing market will collapse. Especially this guy Art Laffer - he bet a penny that there won't be a recession. Here's the link: http://www.youtube.com/watch?v=2I0QN-FYkpw#t=3m25s[^] [Edit] Here's some of the things his opponents were saying in the clip: "... monetary policy is spectacular ..." "... the credit crunch is way overblown ..." "... the subprime problem is a problem but it's a tiny problem ..." "... the financials as I keep saying are just super-bargains ..." "... like Merrill Lynch which is an astonishingly well-run company ..."
There is sufficient light for those who desire to see, and there is sufficient darkness for those of a contrary disposition. Blaise Pascal
Scary. Cool. Usually the guy who is right is a voice crying in the wilderness. The problem is that usually the guy who is crazy is standing next to him doing the same thing. It's a crowded wilderness. I like the part where everyone but him are pushing the financial stocks; Merrill Lynch, et al.
_____________________________ When life hands you marmots, make marmalade.
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Scary. Cool. Usually the guy who is right is a voice crying in the wilderness. The problem is that usually the guy who is crazy is standing next to him doing the same thing. It's a crowded wilderness. I like the part where everyone but him are pushing the financial stocks; Merrill Lynch, et al.
_____________________________ When life hands you marmots, make marmalade.
smcnulty2000 wrote:
I like the part where everyone but him are pushing the financial stocks; Merrill Lynch, et al.
The guy who's pushing them has the aura (for lack of a better word) of a conman. Maybe it's just me but just his voice when he's saying "the financials are super-bargains" makes me want to check my pockets.
There is sufficient light for those who desire to see, and there is sufficient darkness for those of a contrary disposition. Blaise Pascal
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This guy predicted back in 2006 that recession was coming. I just watched this video (a friend showed it to me). LOL! It's not what Peter Schiff says, it's how those people are laughing at him when in 2006 he explains why the housing market will collapse. Especially this guy Art Laffer - he bet a penny that there won't be a recession. Here's the link: http://www.youtube.com/watch?v=2I0QN-FYkpw#t=3m25s[^] [Edit] Here's some of the things his opponents were saying in the clip: "... monetary policy is spectacular ..." "... the credit crunch is way overblown ..." "... the subprime problem is a problem but it's a tiny problem ..." "... the financials as I keep saying are just super-bargains ..." "... like Merrill Lynch which is an astonishingly well-run company ..."
There is sufficient light for those who desire to see, and there is sufficient darkness for those of a contrary disposition. Blaise Pascal
Yeah, I saw that some months back.
Kevin
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Scary. Cool. Usually the guy who is right is a voice crying in the wilderness. The problem is that usually the guy who is crazy is standing next to him doing the same thing. It's a crowded wilderness. I like the part where everyone but him are pushing the financial stocks; Merrill Lynch, et al.
_____________________________ When life hands you marmots, make marmalade.
smcnulty2000 wrote:
The problem is that usually the guy who is crazy is standing next to him doing the same thing.
Yes, there will be any number of crackpots who will have said the same thing. But someone like Schiff would back up his predictions with theory and analysis (specifically, Austrian economics), although that isn't apparent from a short media clip.
Kevin
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This guy predicted back in 2006 that recession was coming. I just watched this video (a friend showed it to me). LOL! It's not what Peter Schiff says, it's how those people are laughing at him when in 2006 he explains why the housing market will collapse. Especially this guy Art Laffer - he bet a penny that there won't be a recession. Here's the link: http://www.youtube.com/watch?v=2I0QN-FYkpw#t=3m25s[^] [Edit] Here's some of the things his opponents were saying in the clip: "... monetary policy is spectacular ..." "... the credit crunch is way overblown ..." "... the subprime problem is a problem but it's a tiny problem ..." "... the financials as I keep saying are just super-bargains ..." "... like Merrill Lynch which is an astonishingly well-run company ..."
There is sufficient light for those who desire to see, and there is sufficient darkness for those of a contrary disposition. Blaise Pascal
Funny! But without numbers etc it' just one's word against the other's, so the whole discussion wasn't going anywhere anyway.
Wout
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This guy predicted back in 2006 that recession was coming. I just watched this video (a friend showed it to me). LOL! It's not what Peter Schiff says, it's how those people are laughing at him when in 2006 he explains why the housing market will collapse. Especially this guy Art Laffer - he bet a penny that there won't be a recession. Here's the link: http://www.youtube.com/watch?v=2I0QN-FYkpw#t=3m25s[^] [Edit] Here's some of the things his opponents were saying in the clip: "... monetary policy is spectacular ..." "... the credit crunch is way overblown ..." "... the subprime problem is a problem but it's a tiny problem ..." "... the financials as I keep saying are just super-bargains ..." "... like Merrill Lynch which is an astonishingly well-run company ..."
There is sufficient light for those who desire to see, and there is sufficient darkness for those of a contrary disposition. Blaise Pascal
My prediction is that after this recession is over we will be in another boom, and then another recession, followed by a boom and then a recession again. You have been warned!
You may be right I may be crazy -- Billy Joel -- Within you lies the power for good - Use it!
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This guy predicted back in 2006 that recession was coming. I just watched this video (a friend showed it to me). LOL! It's not what Peter Schiff says, it's how those people are laughing at him when in 2006 he explains why the housing market will collapse. Especially this guy Art Laffer - he bet a penny that there won't be a recession. Here's the link: http://www.youtube.com/watch?v=2I0QN-FYkpw#t=3m25s[^] [Edit] Here's some of the things his opponents were saying in the clip: "... monetary policy is spectacular ..." "... the credit crunch is way overblown ..." "... the subprime problem is a problem but it's a tiny problem ..." "... the financials as I keep saying are just super-bargains ..." "... like Merrill Lynch which is an astonishingly well-run company ..."
There is sufficient light for those who desire to see, and there is sufficient darkness for those of a contrary disposition. Blaise Pascal
Except he wasn't. He predicted the dollar would go to zero. It didn't. He predicted that the rest of the world would be immune to an economic downturn in the US. He was wrong. He suggesting buying foreign equities. He was dramatically wrong. Worse of all, despite claims to the contrary, his clients lost 40%-70% on their investments with him. In other words, Peter Schiff was speaking out of his ass.
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My prediction is that after this recession is over we will be in another boom, and then another recession, followed by a boom and then a recession again. You have been warned!
You may be right I may be crazy -- Billy Joel -- Within you lies the power for good - Use it!
