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To: sickoflibs

“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.


19 posted on 01/12/2009 10:46:18 AM PST by MittFan08
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To: MittFan08

RE “Schiff bought into the utterly false notion that the emerging Asian economies had decoupled from the US economy

I noticed that too. It could happen in the future but he missed it. It is possible that recover without the US by dumping dollars.

I think his message is a good one for Republicans that post-Bush stand for nothing . GWB has made tax increases popular, and socialism.


105 posted on 01/12/2009 5:46:23 PM PST by sickoflibs (Obama : " I will claim my 1B $ federal contracts to local gov (unions) is all private sector")
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