Posted on 01/25/2009 7:30:23 PM PST by sickoflibs
Peter is the ‘Priest of Free Markets’, and ‘nay-sayer of government intervention’ and has shown how Republicans have gone a-stray and democrats are a disaster. Democrats still believe it doesnt matter how big the pie is, only who cuts it, Obama/Pelosi. Republicans don’t believe in anything, that I can tell.
[Economic collapse in 5 1/4 months.]
The inflation predictor I watch is calling it for September, or eight months out. But yeah, I think we are looking at the same things. Continuing bank defaults causing artificial disinflation until the waves of printed money finally catch up.
I don’t know much about Schiff other than some TV interviews and YouTube clips, but according to this bolg post (http://globaleconomicanalysis.blogspot.com/2009/01/peter-schiff-was-wrong.html) he did a lot of damage to his investors. It claims that while Schiff correctly predicted an stock market crash in the US, instead of just shorting US stocks (which would have made money), in the past 1+ year he had his investors short the US Dollar (losing money to date), buying emerging-market stocks (losing even more money that US stocks to date), and buying commodities (losing as much money as US stock markets to date).
One can argue that he accurately predicted the US crash and perhaps even that in the long run may be proven right again, but up to now his alternate investing strategies have been as bad as everyone else’s.
I don’t think the likes of “O” would ever talk to Peter
Schiff.
The way he is poorly treated by other real economists, and financial “pros”, leads me to believe that our new “Head- Socialist-In-Charge” wouldn’t come within a thousand miles of his advice.
Originally as of 1/1/09 I said 6 months. Now it’s little less.
You can't be this damn ignorant. Did you even listen to the entire audio?
Schiff tried to warn us years ago, and told us exactly where this was all going, and Schiff was exactly correct.
Schiff was also Ron Paul's economic advisor. You know, the guy all the Republican insiders told us was a nut ball.
Turns out, these guys were absolutely correct.
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