Viewing it won't cost you a dime, either.
What say you, gentle readers?
Saturday, January 10, 2009
Peter Schiff Predictions
Schiff: Obama's government will unleash a worse crisis than we have now
Viewing it won't cost you a dime, either.
What say you, gentle readers?
Viewing it won't cost you a dime, either.
What say you, gentle readers?
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14 comments:
Peter Schiff? Yes. His comments are very good.
But as far as him being the only one to predict this, what about Nouriel Roubini and Mike Shedlock? What about meeeeeee?
Lots of people saw this coming, just not the bootlicks that have been running things.
Now that Mike Shedlock's predicted "Santa Claus rally" is fizzling, he too is saying his Elliot count and other technicals are calling for more down. (He was calling for more down longer term, but felt there would be a short rally.)
It's not a recommendation, but those with tolerance for volatility might want to have a look at EEV, FXP, and TWM. Not a recommendation, just a suggestion maybe to have a look.
Asia's exports have fallen by 50%. Incredible. Mass starvation and disease are coming, not just economic collapse.
Another good vid, and a funny one, is here
Fred Thopmson Video
This link works better
Fred Thompson Video
"Lots of people saw this coming, just not the bootlicks that have been running things."
Point well taken, Danny.
And hmmmm... where have we seen that delightful Fred Thompson video before? Oh yeah... here:
Fred Thompson on the Economy
;-)
China Losing Taste for Debt From U.S.
China fears recession riots
If religion is the opiate of the people, then Keynesian economics is the crack cocaine of government.
Hayek Tells Bill Buckley That Even Keynes Was Afraid of the Keynesians
I have a question: do you think that government economists realize this and turn a blind eye, or do you think they are ignorant? Reading Krugman (when I must) I get the opinion they are woefully ignorant.
Schiff is right on. Whereas the economic morons are still spending billions to prop up the inflated prices which were the result of the Housing Bubble, the natural forces of the market are trying to correct values downward.
America should just stand back and let the bubble deflate.
The longer the government acts to prop housing and other prices up, the longer and more painful it will be for all of us on the economic downside, as Big Government attempts to thwart natural economic forces, which are telling Americans that Housing is "overbought."
"Mister Market" will have the last say on this, regardless of what the cheesy polititians do.
Being Wrong for Five Years Makes Peter Schiff Right Now?
HAHAHA!
Todd,
The economy was unbalanced in 2002 as well. Schiff at that time, was describing imbalance, not predicting stock prices.
Note that ALL of the economic growth during the Bush administration can be accounted for by mortgage equity withdrawals which in turn were caused buy the Fed's money printing going into house prices.
Like Schiff, many predicted the bubble would pop, but saying WHEN it would pop was harder.
On the other hand, had you invested heavily in the stock market in 2002 you'd have lost money by now, factoring in inflation. So this means Schiff was wrong? HAHAHA!
Another interesting tidbit is that during the Depression, from April 1930 to July 1932 the Dow lost 88%. Yet there were 7 rallies during that time running an average of +24%. So remember, there's a thing in a bear market called a sucker's rally.
So don't knock a guy for being right in the long run just because he wasn't right on in the short run.
Rudi, HAHAHA. I should have know I'd seen that clip here.
Also, for Curm's reading, here is an article on what a bozo his liberal idol Krugman is
Krugman, Still Wrong After All These Years
Danny:
Permit me to politely remind you that Mr. Krugman has been writing columns for the past two years, warning that the housing bubble was not sustainable, among other things. I was surprised not to find him on your list of Cassandras.
Problem is all you Krugman-haters, we are no where close to having a "free-market" economy. Your analysts can make all the assertions they want about how a free-market would solve all the problems. Where does this free-market exist? Only in the hypothetical world of their theories. Krugman at least deals with the world as it is, unlike the Austrian school.
The Fed's Bubble Trouble
Comment bumped to front page
Googlegirl, Great article.
Curm, no offense. It's just that Krugman seems to have one answer to everything: More government.
Adam Smith: Government is the problem. It has a valid role to play in society, but it has gone so far beyond that it is difficult for many to see what that role even is. And I find it strange that you would say the Austrian school deals with unreality and Krugman with reality, when the former has proven its validity time and again while the latter has been wrong time and again, at least in my view.
But don't ever feel bad just because somebody disagrees with you. I don't.
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