Peter Schiff 11/13/06 - WRMBA meeting [Part 8]

[arion45]

Peter schiff was right

[100SCN]

It's mind blowing to have watched this in 2011.

[sybo59]

@jmwargo That was really clever what you did with that name there.

[gizmo2084]

Barry Asmus reminds me of used car salesman.

[ronaldvanbell]

how this guys ridiculed peter, calling his business "earo pacific somthing". disgusting

[Panpiper]

Barry Asmus, the name of the guy who said it would take an atomic bomb. I wonder if he is even aware of how much egg is on his face now that the bomb has dropped, with every bit as much calamity as Peter Schiff predicted?

[imigrantpunk]

i think they remained delusional for the most part. its hard to see the facts through all the greens they been making :)

[delatroy]

Doesn't speak like an academic, he's just a tit.. Taleb & Roubini are academics and both correctly predicted this.

[eteezie]

Schiff has balls the size of coconuts. I just wish I had known of him before I bought my fucking townhome. I'm an idiot.

[imigrantpunk]

if the price is lower than your mortgage just stop paying. they will either foreclose your townhouse (which will give you about a year of free rent) or renegotiate the loan slashing it significantly. if you can get some money out of it you should sell it - we have not bottomed yet. the housing value (might be not in nominal terms) will fall much more in the next two years.

[eteezie]

Agreed. At this point, I am not TOO far upside down. Not at the point that I am ready to bail out. For now, myself and my wife are employed and making the payment is no problem. However, if I had to do it over again, I would be a happy renter sitting back and watching this mess unfold.

[sonic4duck7]

If internet still exists and is affordable to the masses in 50 years, this video series will be watched by economics classes as proof that Austrian theory is correct. This is priceless. Schiff had real cojones to stand firm in the face of laughter.

[prac2]

i think they were running to lunch

[wolfboy747]

I would love to see Peter get the chance to talk with each of these guys like Barry "Ass"mus and see what they have to say now. In my eyes Peter's credibility has shot through the roof and and shit for brains economists like Assmus and Laffer just had their over inflated credibility bubble burst.

[Jaycephus01]

Great series of videos, thanks to Mr. Peter Schiff.

I wonder if any of the guys in the crowd who laughed at Peter ever watch this now.

Do homeless shelters have internet?

[Sinisterene]

They would rather keep sucking their own dicks (and staring at their own navels at that) than admit that they were wrong and Schiff was right

[jsffive]

Peter Schiff was standing in a room full of mortgage lenders, telling them that the housing industry was getting ready to bust, and Barry Asmus was standing in the same room, telling them that everything was OK, and he has the nerve to accuse Mr. Schiff of "selling to the book"?

I think it's pretty obvious that Mr. Asmus was "selling to the crowd", and doing them a great disservice, by selling those folks a rosy picture.

How many of those folks are now out of business, because of his bullshit?

[delatroy]

Well said. He's arguments were weak, drawn out and confrontational/defensive. At the same time, back then it was probably very hard for them to believe Peter as all they saw were prices going higher.

[tecmason]

non-peter got OWND

[LohGr0r0r]

I facepalmed at the atom bomb comment.