How could these guys be so wrong? Maybe Obama needs to be looking at Schiff.
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The guy obviously got the McFly Almanac from 2020…
Does Cavuto or O’Reilly have the guts to play these clips on their shows? Probably not.
The number of people who’s job it was to see this coming (and didn’t) is truly amazing. Don’t take a serious look at what is going on, because you might not like what you see, those spinning plates must keep spinning.
Common sense left the USA years ago and we can only hope that someday it will return.
From the people who brought you Vietnam, Ben Stein in “The Economy is Fine”.
Great find. Wow. This guy held to his guns and was right. I would pay to see the other schmucks address this video now.
two choices
bet against the US– buy gold
bet on the US put your money(what’s left)– back In the market.
all these guys are just guessing
That was great, thanks. It’s no surprise that Ben Stein was wrong as he’s an idiot but the others must be swallowing some pride and I’m sure they don’t want this video spread around. They were so smug….and wrong. Who’s going to go to them now?? Nobody.
Damn, if only I had availed myself of these obvious bargains when I had the chance!
I love it when the other people said, “I have no idea what you are talking about.” They had no idea how right they were…
This man was Ron Paul’s economic adviser for his Presidential campaign. It’s our loss.
Yep. Shiff is a wise man. The first guy who disagrees with him adds being a jerk to the equation. I hope he’s watched it this week too!
Schiff was dead right on his economic call but dead wrong as to what to where to put your money to avoid the carnage. His fund is down over 50%. Take a listen to this call from a livid investor.
http://www.youtube.com/watch?v=9kW64YYcUso
Videos of Peter Schiff being ridiculed on CNBC, MSNBC, and CNN are all over YouTube these days. Schiff’s own website is a good place to find links to them. He’s been predicting the current financial distress for many years, which caught the eye of Congressman Ron Paul when he was putting together his campaign team. Another good video is the one of Congressman Paul grilling Ben Bernanke and Hank Paulson on Capitol Hill last week, asking them questions about the situation Schiff predicted, and why they couldn’t see it coming, when he did and has been warning us about it since at least 2003, if not earlier.
Our country is on a downward spiral because we do not listen to people like Peter Schiff and Ron Paul.
I just don’t see any silver lining around this cloud.
“Maybe Obama needs to be looking at Schiff.”
You mean, rather than the idiot he going to make the Sec Treas.?
[Exactly – ed.]
He was right about the overall credit market, however he thought commodities would pick up some of the slack, which, if he listened to his own discussion, he’d have realized that consumers not consuming destroys the commodities market as well.
The unreality of the real estate market is why I have stayed out, I was not going to pay 20-25% more one year for something that was literally 50% of that value (or less) 10 years ago.
It’s interesting to look at how inflation has supposedly been tame… but only because of production efficiency and cost reductions and leading profit items (where companies start something at a high profit margin and then drop it over the course of a year until the next version comes out.) The tech world has been doing this for years. However, the consumer is not likely to push the envelope for the next year or two, which will tank most of their profit margins and roi.
Not so much that people disagreed with him, but that they were such idiots while doing it.
Read this…
http://www.portfolio.com/news-markets/national-news/portfolio/2008/11/11/The-End-of-Wall-Streets-Boom?tid=true#page1
a fantastic article written by the guy that wrote Liars Poker (an amazing book about Wall Street in the 80s).
He talks about a couple of traders who saw it coming and were betting against Wall Street, their shock as they started to unravel what Wall Street was doing and Wall Street’s reaction to them.
In the end it can be said that the only people who predict the future are those that are right and those that can go wrong. It can only be one of two ways.
Yet some seem to have the eerie ability not only to get it correct – but in great detail long ahead of events
It makes you wonder if they are crazy or sane – still you can be assured of two things no matter how the economy goes – your property tax assessment will go up and the inevitability of death.
#3 – 8 years ago
So if he;s such a genius, why isn’t he making money? Euro-Pacific Growth fund is down 50% in a year.
My guess is this is one of those guys who keeps talking doom, and is eventually right.
“Schiff was dead right on his economic call but dead wrong as to what to where to put your money to avoid the carnage. His fund is down over 50%. Take a listen to this call from a livid investor.”
He freely admits he was wrong. Try getting those other guys to do the same and see what happens.
What about JCD? I finally read “Confessions” & have to hand it to him, there’s a LOT of lessons that America needs to learn that can be taught in that book.
The guy may be a bit of a doomsayer.
But the explanations he gives for his doom – seem pretty accurate. I mean it seems to fit what has happened fairly well, right? So I don’t think he’s so easy to totally discount.
If his current views are true – he paints a very grim future. I hope he’s not right.
“He freely admits he was wrong. Try getting those other guys to do the same and see what happens.”
Did you listen to the call? He doesn’t admit he’s wrong. He makes a ridiculous argument, telling the investor he isn’t really down unless he sells.
“So if he;s such a genius, why isn’t he making money? Euro-Pacific Growth fund is down 50% in a year.
My guess is this is one of those guys who keeps talking doom, and is eventually right.”
He is not a genius. I saw this coming for a long time. It does not take a rocket scientist to know that a decade plus of extremely low interest rates is going to cause a mountain of havoc.
Heh, by looking at the stock tickers you can tell its not a recent video..
#15 – Paddy-RAMBO
>>You mean, rather than the idiot he going to
>>make the Sec Treas.?
Haw! Paddy-RAMBO’s got his panties in a twist. Nobody that Obama could ever nominate for ANYTHING would get thumbs-up from you, RAMBO. The other guys down at the ‘Shack must think you’re a real sourpuss.
What does it say about society when the “crackpots” and “conspiracy theorists” are the ones ultimately proven correct, and the rest of the people are the one’s that end up being wrong?
This is hilarious. Buy Bear! Buy WaMu!
#25, agreed.