The Conservative Cave

Current Events => Economics => Topic started by: Schadenfreude on November 15, 2008, 05:23:28 PM

Title: Nostradumus? OMG... Peter Schiff predicted this
Post by: Schadenfreude on November 15, 2008, 05:23:28 PM: Alrighty then.

[youtube=425,350]2I0QN-FYkpw[/youtube]
Title: Re: Nostradumus? OMG... Peter Schiff predicted this
Post by: WV conservative on November 16, 2008, 02:28:23 PM: No one wanted to listen, sounds like he hit it right on the head. I wonder what all the other economists are saying now?

WV C
Title: Re: Nostradumus? OMG... Peter Schiff predicted this
Post by: Schadenfreude on November 16, 2008, 06:42:58 PM: Quote from: WV conservative on November 16, 2008, 02:28:23 PM
No one wanted to listen, sounds like he hit it right on the head. I wonder what all the other economists are saying now?

WV C

I posted this at another forum and according to those who are probably quite knowledgable... well they claim that Schiff didn't get everything right. Here were the comments.

Quote
Schiff has been right about a lot of things, most notably the prediction of this financial crisis (and he certainly was not alone) and the collapse of the US markets. But he has failed to correctly diagnose its impact on foreign markets. He also mis-diagnosed the actions of the Fed over the last 18-months (approximately the beginning of the credit crisis) running up until September of this year (when the Fed finally did begin a campaign of inflation, thus far to little avail). His investment advice for this crisis has been off the mark. He vastly underestimated the banking and bubble problems in Europe, Australia, and Asia, as an example. Schiff and his brokers were recommending Icelandic bonds about six months ago as one of their recommended fixed income investments. Oops. Australian debt as well, which has tanked. FAX is also a favorite of his, which has been creamed.
Title: Re: Nostradumus? OMG... Peter Schiff predicted this
Post by: Miss Mia on November 16, 2008, 10:20:52 PM: Very interesting. Thanks for posting this.
Title: Re: Nostradumus? OMG... Peter Schiff predicted this
Post by: EaglesWings on November 17, 2008, 07:00:55 AM: I noticed several of the other guests were laughing at P. Schiff....well....doubt they are laughing now!
Title: Re: Nostradumus? OMG... Peter Schiff predicted this
Post by: Schadenfreude on November 17, 2008, 07:40:19 AM: Quote from: EaglesWings on November 17, 2008, 07:00:55 AM
I noticed several of the other guests were laughing at P. Schiff....well....doubt they are laughing now!

Call me skeptical.... I wonder how many were riding the bubble and got out right before it burst. :tinfoil:
Title: Re: Nostradumus? OMG... Peter Schiff predicted this
Post by: Duke Nukum on November 17, 2008, 07:34:46 PM: Great find, Schade! I would compare him more to Cassandra than Nostradamus and the really scary thing is, we are in the midst of his prophecy and our elected officials are fiddling.

While other failing businesses are lining up to dismantle American wealth.