05/09/2002- Part 1 Peter Schiff Interview On Southland Today

[OccupyWallStreetSays]

lol this proves Schiff is a broken record. The Dow moved up 45% within 6 years of sales pitch!! Today, it is 30% higher! Schiff is a SALESMEN who keeps crying the same lines and calls others salesmen!!! He is a HYPOCRIT. Anyone who doesn't see that is an IDIOT!

[Graham6762]

If you watch CNBC, they have never been right about anything, EVER!

[gozgunner]

lol this looks like 1982 not 2002

[not8upwthit]

People never cease to amaze me......his numbers and timelines have not been perfect.........his forward thinking and seeing what was coming has been spot on...I didn't see that many others subject themselves to ridicule and never waiver....I believe mr schiff deserves some respect for standing up

[Only1Transporter]

2:53 'we'll probably trade sideways for a while but inflation will be very substantial' WOW and the amateur clowns love to say how this guy is crazy yet in 2002 most of what he is saying has happened or is happening right now.

[greenday762]

Dow 2000??? l am I did not listed to this guy. His ability to predict the market just plain stinks!

[LordMcgyvr]

"We're in the beginning of a bear market, it will last for a long time." Wrong. Completely Wrong.

"Bulk of downslide will happen in the next couple of years"... Nope.

"Nasdaq will fall to 500"... Even if we take the timing of his prediction as "at some point in the next recession", then he's still wrong. 1,265.52 was the lowest.

"The Dow Jones will fall to between 2000 and 4000" Nope, again, lowest point was 7,552.29.

Half way through the video... No prediction master in this video.

[vincentca2004]

@LordMcgyvr Thank the fed for not seeing the lows in the market. We actually needed those lows if not lower because of not just 2 years, but 7 years of a crazy spending binge and loose monetary pilicies. When all the deleveraging is done and the money starts flowing again, the only thing that will result is the erosion in your purchasing power. The big corporations and the government programs are financed with savings of the general public. Only a monkey couldnt see what was coming ahead.

[AIMANALI]

wait a minute he is a doom and gloom guy even when the market was just about to take off . So he could be a little way off even now. i know doom is coming but it might not be for another 15 years

[billsaintkilda]

No the market didn't take off at all. The US market has been in a bear market since 2002 if measure against any other major currency plus gold. He was spot on. The dollar index has dropped by 40 % since then.

[BShinkicker]

Exactly. The market didn't technically "take off". We should have been in a recession in 2003, instead the Fed enabled the housing bubble in order to stave off this recession.

The take off was only an illusion. A bubble.

[radiospirit]

Doom and Gloom is right around the corner... 15 years? You should be so lucky...

[AIMANALI]

@radiospirit 5 years ?

[radiospirit]

Well, they can always print the money. It will get devalued, of course.

What your definition of doom is might not be what other people's definition is. Food prices going up severely, along with everthing else, might be an instance of doom for some...

Sure won't be pretty...

[gizmo2084]

@AIMANALI,

The doom was actually created back in 1979 right before Reagan took over. Our economy has been based on debt and borrowing. Not production and savings. Labor is money. We lack both so we borrowed and kept up withe Jones'es because we stuffed our credit cards and lived the high-life since then. It's not the 50s and 60s anymore.

[deltapunk21]

The dollar was not a bull market it was a created market by having foreign countries depress their currency vs. ours...and China igniting a firestorm of t-bill buying and also a tilted trade policy along with dishonest inflation number caused by carter's gand dropping oil and housing from the cpi back in the 70's and the Clintoon's gaming the index in the 90's.

The Clintoon economy was a sham and the artificial "strong dollar" "created" by Rubin depsite the fact dollars increased in supply.

[forestnomad]

LOL, dummy.

Do you also always make excuses for when your market calls are flat out wrong? 'It's only a bull market when I say it should have been a bull market!'

Go back to listening to Ron Paul and sharpening your pitchfork.

[jmjfanss]

@deltapunk21

Got that right.

[deltapunk21]

We needed it to fall that far to asjut itself because of imbalances.

[deltapunk21]

You have to pay out to be solvent, big old time american companies paid out, these inflation created Fed bank drunk economy people are in need of sobering up.

[thebruno44]

this feels like '82 not 2002... haha

[acetylslicylsyra]

true that, haha

[sayah64]

When exactly will Nasdaq fall below 500 and the Dow below 2000 like Schiff claims in this video? I'm ready to Buy!

[nonantianarchist]

Holy crap, he looks a lot younger in this interview than he does now. Being a voice in the wilderness apparently takes its toll.

[GusBariga]

@nonantianarchist its called aging

[phazespace]

How amazing is this video? Peter Schiff makes so much sense. In 2002 he was seen as such a pessimist and people didn't want to hear it. I'm so glad we have these things to go back to and find out who really is credible and who really doesn't know anything.

[aazbaby]

kegen

[addiktion13]

Dang Peter you nailed it! Glad that I'm planning on investing in your company soon.

[satuon]

OMG people, do you notice how he MAKES SENSE? Forget about whether his predictions turned out to be true, you can just see how what he's talking about dividend yields was just plain common sense!

[koki4o]

The introduction of Wall Street Unspun is taken directly out of this interview haha

[satuon]

Yeah, that's the first thing I noticed, too, lol

[koki4o]

а ти си Българин също какъв късмет :)

[DNATS]

ah, so this is where his weekly radio intro came from.

[slurppypurr]

I noticed the same thing, ha!

[theoriginalanomaly]

I wish I started listening to him at that time. I would have been much better off. Great find. Thank you.

[joescarafone]

I agree.  I know debits and credits and even under reagan, although revenue doubled, we spent like crazy. That didn't make sense to me then. Now as an older man, I realize how dangerous what they've done is for our National Security.

[82abhilash]

He looked like a geek in those days. A shy one at that.

[Jbreed2011]

He was a bit early in calling it. Dow between 2000-4000... WOW... It went down to 6800 and the dollars worth only 2/3 of what it was so I'll give him the benefit of the doubt there on that.

[PureAdrenaline97]

Peter is the man and if you don't believe what he says in the this interview that you don't believe in reality lmao.

[TheGreekMobsterr]

"Their feeding you propoganda" Its been SEVEN fucking years and this guy is still saying the same shit hes been saying for the last SEVEN fucking years...can you say consistent?! Ron paul for President/Peter schiff for Treasury secretary

[dantej32]

Shut up you punk ass hairy backed monkey

[buzzadler]

why all of you need to understand is that we cant predict WHEN it will happen, because of all the government intervetion in the markets. the Fed can and does prop up markets with various tools like the PPT, OMC, and other techniques (scams) so we don't always know WHEN, but we just Know it WILL happen. It's government that is unpredictable. I went to the same school as Schiff (Haas, Berkeley) although 13 years after Peter did.

[ivar197]

nice legs baby

[megawavez]

Schiff was right, BUT, his timing is awful. He sounds like the crash was going to happen in '03 not '08.

[psycobetabuckdown]

How is the timing awful? He predicted it well in advance. This happened when people thought the recession was already over. Aren't economists supposed to predict stuff well in advance?

[pllpls]

This was before the Fed blew up the housing bubble (or the very, very beginning of it).

If there wouldn't have been a housing bubble what Schiff said here would have occurred.

The housing bubble kept us out of a recession (temporarily, until now).

[pllpls]

This was in 2002, before the housing bubble. The Federal Reserve lowered interest rates down to near-nothing to prevent the recession that would have happened around this time (2002-3).

If there hadn't been a housing bubble what Peter said here would have occurred.

[0MoTheG]

the correction was delayed for years, making it worse, by pumping out more money at low interest. he was not the only one predicting this and pointing out the lack of fundamentals.

the way they are dealing with this crisis is not at all innovative but the same as in the last 10 years, with ever more money.

Many companys pay small dividents and are in high debt, still their "value" is high.

[tinstareel2]

I bet less than 10,000 people have ever seen this interview in the entire world.

See, the NWO does make mistakes.

That's 10,000 too many.

[jprithvi]

"Low interest rates fuled by foreign demand for US bonds driving rates lower leading to a bubble" - So freaking prophetic.

[MooseOfReason]

That's almost seven years ago, and he was spot on.

Wow.

[fox20012]

shes taking notes rofl!!!

[nammek]

Peter Schiff is a messenger like lThe rock band the Strokes. Everyone laughted at them and now they are vindicated. Thank god

[seetvrun]

A prophet, a prophet is among us ;)

[NascarL4806]

When we abolish the federal reserve (a privately owned institution that was illegally created in 1913) Mr. Schiff should be on the President's economic team. Pipedream, they screwed us in 1913 and now we have to fight another revolution. get your guns, ammo, and food. Make a list of the people that are killing this country.

[ChristiansMustLearn]

you would like Max Keiser. Great great newsletter and podcasts...i wish more people understood economics is actually quite simple. Peter breaks it down to the nuts and bolts.

[tubechapulin]

Long live Peter Schiff!!!

[masteryk]

This man really did call it. Can we please start listening to him now?

[xavster]

drop in real estate, increases in commodities... dude is like the warren buffet of doomsday.

[prestonloyola]

I'm a big fan of Peter Schiff, but NASDAQ 500, DJ 2000? A little off there!

[ktchong]

So, do you still think he's "a little off there"?

[crazypokermike]

If we're going to see the same fall from he peak of 1929 percentage wise, Dow will hit 1500

[phazttraxx]

you have to account for the fact it's global, unlike the 1930's where it affected mainly America

[GusBariga]

@prestonloyola yes but price those indicies in gold, silver, copper, wheat, rice, sugar even. at this moment dow to gold ratio is 6:1, soon it will be 1:1

[jbryant13]

Wall Street is nothing more than a high end shell game

[dermoni08]

if i had 20,000 extra dollars i give to him wait 5 years

[raygunsben]

Peter Schiff is the man! Support Ron Paul!! Peter is Paul's economic advisor.

[KARStarla]

Whoa! He was so spot on its scarey!

[ElCapitan1985]

Peter the prophet! oh, how right you are.

[justgetsome]

He called it!