Saturday, December 6, 2008

WOW!! Peter Schiff had it SO down pat!

FAVORITE FIND: Not sure if we have made a person a favorite find before, but here's a guy that knew what he was talking about...

http://www.youtube.com/watch?v=2I0QN-FYkpw&eurl=http://www.socalbubble.com/

Check out the link abve for a compilation of news segments from as early as 2006 where all of the news "gurus" are laughing and making fun of the warnings Peter Schiff was giving. Fox News analysts were touting "boom" and what bargains Goldman Sachs, WAMU and Merryl Lynch stock were (bankrupt firms now!!) while Schiff pretty much predicted "bust" via the housing bubble, recession, sub-prime collapse and current credit crisis...

I'm going to research this guy further, he is so on target (or WAS so on target) by saying that all wealth in the past years was purely on paper and the only way to get out from this awful recession is to SAVE and PRODUCE.

I am disgusted by the slick commentator laughing at Schiff, and telling him "I have NO idea where you are getting this... what artifical lending standard are you talking about??!!" Please tell me these other guys are no longer given ANY air time, as a courtesy to the nation!

THE TIP: You can probably believe in 1% of the "advice" you hear on mainstream news (and I used to work at CNN guys, remember?)

And for good measure, below is what Schiff has to say of late, Nov 2008:

2 comments:

Mark said...

And now today Obama announces that the economy is going to get worse before better. interesting that you posted this video a day before even the powers that be confirm what that guy was getting laughed at. WHO'S LAUGHING NOW?

you should do a class on any local people this schiff guy has to answer peopl's questions on whether to buy or sell homes, where to keep money safe and have someone else that is more moderate in these views give the counter-argument. I would attend that but not sure who you could get to teach it.

Anonymous said...

a,mazing!!