RE “This is where the Peter Schiffs and McHughs are wrong in their hyperinflation thesis and their “defensive” measures to try to do something about it “
Schiff calls for personal savings, capital investment and creating an private industry that can compete, not a bunch of government employee consumers. He is not completely conservative(as recently defined), and has some ideas that conservatives don’t like.
“Schiff calls for personal savings, capital investment and creating an private industry that can compete, not a bunch of government employee consumers.”
I like Schiff, but his clients have lost a lot of money in this economic collapse. His whole thesis was that you could protect yourself from the coming economic collapse by buying Asian stocks, but those stocks have been hit even harder than US stocks. Schiff bought into the utterly false notion that the emerging Asian economies had decoupled from the US economy, and he appears intent on riding that lame horse until it dies. I suspect he knows he screwed up, but once you pick a basic investment strategy and write books about it it’s pretty hard to back down and admit you were wrong.