Posted on 03/18/2009 12:43:28 PM PDT by Painesright
Video from the annual Austrian Scholars Conference at the Ludwig von Mises Institute in Auburn, Alabama. Peter Schiff provides a detailed overview of how the bubbles in both tech stocks and real estate were extremely easy to foresee and how government policy played such a large role in creating and nourishing the bubbles as they grew. He also spends a great deal of time analyzing why mainstream economists still do not understand the fundamentals of our current crisis, and how the government's misguided stimulus and bailout policies are sowing the seeds for economic devastation.
Amen, it will be a different “house of cards”, but just as shifting and dangerous.
Thanks for posting this. Excellent Schiff video.
Listening now—about 45 minutes in. Got the sound turned up so I can listen while doing housework. What he says makes sense, but what the heck do I know?
For those of us at work and without 45 min to watch the video - what does he suggest we do? If he knows, he really ought to make news outlets cover it and listen to him to at least try to mitigate the damage.
You are welcome!
I hope people are not scared away by the length of it... 75 minutes... it takes a few minutes to get going, but it is well worth the time because it’s going to be another “Peter Schiff was right” classic some day soon.
Everyone in the U.S. needs to watch and understand this.
Unfortunately, most Americans are more interested in whether Britney’s concert tickets are selling or not.
Here is the link to his company website. I visit it Mon - Fri.
He writes a Commentary every Friday (on home page towards the left side of page).
Then, read articles the from many different news papers that he posts down the center of the home page Mon - Fri.
Then go to the Resources page and click on Video Interviews on the far left side of the page.
Watch them whenever you find time and share them with your family and friends.
He also wrote an excellent book: Crashproof (not for the faint of heart... scary stuff.)
Hope this is helpful.
P.S.: Be sure to watch “Peter Schiff was right 2006 - 2007 (2nd edition)” on youtube ASAP. A classic!!
Thanks for the info.
He suggests that we bite the bullet, stop living in a fantasy and suffer through the depression that is necessary to rebuild this economy. He says we need to shrink the government, allow interest rates to rise, stop buying useless junk, save money to invest, manufacture products to ship to other countries rather than continuing the fantasy that we can all work in a service economy. All the stuff that the blue sky boys on FR told us was insane. In short he suggests that we will return to reality one way or the other.
He has been on the cable news shows. You can see some of it on YouTube.
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