After so many people were blindsided by the sub-prime mortgage crisis, how can this have so few views. When wealth EVAPORATES, don't people investigate as to how they suddenly got so poor. My super-annuation fund halved in 2007. How do MORE PEOPLE not switch on to the real determinants of $ by watching videos such as this one when so many are effected and the consequences so massive. This video should be viral.
I subscribed to Schiff long ago and his predictions are astounding. It's almost as if he is telling people to behave economically and it happens.
The funny thing is I sometimes think of the extreme pessimistic POV and realize that is what he does and it's true.
Who would have thought back in 1957 that a Gibson Les Paul or Fender Stratocaster guitar would increase in value at a far greater return than a Chevrolet Belair Or Ford Thunderbird of the same vintage?
Wow, just wow.Just finished watching this for the first time. I've been a Peter Schiff fan for some time now but this is the first time I saw this vid and it just blew me away.
@ddstar, that's because you neither believe 99,5% of all people are complete dumb fcuks.
Not only are unskilled people dumb fcuks, but also 99,5% of all skilled people are also complete dumb fcuks.
Just ask yourself this question: Why don't people understand that they must produce at least as much as they consume or else we will get a break down? Because they are dumb fcuks!
Today, more than 4/5 of all working people don't have a real wealth producing job, but a job to maintain laws and Gov't.
i WAS a mortgage banker back then... Peter was of course right.
So now I'm focused on getting prepared for the coming revolution. (Moved to a place where I can plant edibles, hoard canned & dried goods, buy ammo for my guns etc.)
@y2ktube sounds pretty good to me man, just don't live next to a large population, crazy false flag attack/power vacuum/private military occupation might happen.
Schiff is a genius and is great at explaining economic principles on a macro level to an audience with average intellect. Look up his dad, Irwin Schiff on wikipedia and you'll understand more about him. I hope he beats Chris Idoddiot for the CT Senate seat next year.
I agree...but remember that many people of considerable intelligence fall for the nonsense of a mania/bubbles.
The Federal Reserve creates an incrdible amount of distortion when they blow up the money supply. The result is very predictable...widespread malinvestment and misallocation of resources. Harvard MBA's and average folks alike are not smart enough to understand this FED-induced bubble/bust business cycle. Keynes himself said this in 1936 when he presnted his pro-govt 'General Theory'.
Absolutely rtrumble, Schiff is a total genius... but nobody who can actually do anything about the gov't is doing anything about it. Schiff tries again and again to explain this shit to them and they don't get it! Looks like he's gonna have to do it himself... Schiff for Senate in 2010!!
I knew LA did. Plenty of house in Riverside, San Bernadino looked deserted. One mall near my home is now half vacated. I must tell you the explosion was slow, though.
lol, yes, please. Invite Peter back and tell him how wrong he was..lol.
I've watched this 8 series vid several times and I laugh harder each time. Not because I saw it coming, but because Peter did and nailed it perfectly. I can't believe these clowns don't have the decency to invite him back to this year's forum.
Maybe he can bandage a few wrists, starting with Barry's, after Barry apologizes for being dead wrong of course.
Go get'em Peter. No-one in the US holds a candle to you, buddy.
Dr. Asmus spoke to us in Jackson Hole, WY last year. He is wrong in this video series and he was still wrong in 2008. He obviously learned nothing. I pains me to listen to the man. He's wrong, wrong, wrong. It's too bad that people pay this goof to speak.
lol I thought Lehman collapsed in September? So in November 2008, Dr. Asmus was still living in lalaland. Some people are just so blind, you can tell the truth in their face but the effect will be the same as speaking against a wall.
Good stuff. We were a 12 trillion dollar economy? I did not know that. I do know that the debt and liabilities that this government has saddled us with so far is over 68 trillion. For the children.
The problem with the "$12 trillion" economy is it doesn't indicate how much actual stuff is made. I could charge $12 trillion for one TV and claim a $12 trillion economy. China's GDP in monetary terms is a third of ours. But since they're so productive, prices drop and their GDP is lower. But they produce more than we do.
Also GDP is FINAL goods and services. It DOES NOT include production goods used to make things in GDP, which China makes much more than us.
Plus gdp doesn't account for all of the malinvestments being made within the economy, it assumes capital investments are homogeneous and can be seen in the aggregate but really capital investments are heterogeneous and there is plenty of misallocation that will lead to its unproductive uses that GDP just assumes to be productive.
Good point. Also products can be produced but there's nothing to indicate the production is meeting customer or entrepreneurial demand (or at least long term sustainable demand). GDP doesn't reveal capital consumption or resources wasted.
Just think about how cast iron Peter Schiff 's personality and trust in what he knows has to be to put up with this nonsense. This Asmus fellow is an empty suit who gets by with the herd.
lol, i don't mean to be a dick, but i'm glad he fails. You can clearly see how bad the system is messed up when such failures are around dictating their egoistical beleifs. What should fail, has to fail.
The only thing I don't like about Peter Schiff is that he is almost too sure of himself.
Maybe that's a Canadian's view of the world - but I read that his Euro Pac clients suffered a massive drop in their stocks, based on Peter's picks of commodities and energy, both of which have fallen sharply...
So he's not perfect - but he makes others in his field look like knuckle-dragging morons :)
Those losses were felt only by his most recent investors. Schiff focuses on long term investment strategies. You are committing the same fallacy as Schiffs detractors by focusing only on short term numbers without taking into account the economic factors in play. For example commodities went down because of an unforseen rush on the dollar, but this absolutely cannot continue because of the rate of monetary inflation.
Peter's the man. "Selling to the book"....Wow, that's a low blow. I wouldn't shake the guy's hand afterward either. He can take his short-sighted and delusional mainstream ideas and his presumptions back to "oops, I guess Peter was right" land.
Peter was right again. I hope that after the collapse happened that Peter called up all of these people who disagreed with him and rubbed it in their snide little noses.
Barry Asmus....you just made a barry, barry big ass-mus of yourself. Hard to believe you are a Senior Economist with the National Center for Policy Analysis and hold a Phd.
It's just brutal how Barry keeps insisting on meeting Peter again in a year and the year after to go over their predictions. I almost feel sorry for him.
Seriously. You'd think all of these people would get the business cycle. I mean its not complicated. I personally, refuse to believe that people are that stupid. I think the evidence is pretty clear that they are evil
Philosophical traditions run deep... It's hard to shake what your professor's professor taught his/her students. I don't think guys like this are evil, they just lack an objective view of the world. Case In Point: the guy's remarks in the last clip about how "we all see the world through a prism", and "you can prove anything with statistics". It's thinking like that that leads to mass confusion and lack of direction.
You can't measure intent. Let's give him the benefit of the doubt for a second and assume that he is stupid. Even if he had no clue what was going on, don't you think the responsible thing to do is actually understand the subject before he opened his mouth? Mises would have called him a babbler. It's reckless and irresponsible. If you admit that he is stupid, then you must admit that he is deliberately spreading disinformation by not bothering to learn the truth and that makes him evil.
Interesting. But suppose this guy has bothered to find the truth, but perhaps couldn't find it or hasn't found it yet? In your definition of evil, you mention in your premise that the fact he hasn't bothered to learn the truth is what makes him evil. Is that not also a measure of intent?
Actually, I rarely use the term evil since it is frequently ambigously defined and a lot of people's definitions of evil are based on religion. I prefer to use the term anti-social personality disorder for people who commit property crimes.
I think in some degree to call him evil because he is speaking without bothering to get the facts is a measure of intent, but at least it is intent deduced from action rather than supposed.
not really, why understand something if its flawed in the first place... i think peter understands enough to know that its broken... he neednt not investigate the crack, only that its broken.
so what, people dont spend 100% of their money on "certain commodities", the average PP is down around 50% (so you could buy 2 times more stuff with 1000 dollars in 1997, not 10 times), stupid!!
right but not everybody bought into the real estate bubble either but you see how badly that's affected our economy...inflation doesn't seep into the system uniformly, my point is that inflation takes hold in certain sectors and that's where it does the most damage...if enough "stimulus" is injected into the system in hopes of "reviving" the economy then you will begin to see inflation all over the map. stupid!
As you can see Peter Schiff was exactly right about home prices and the future of the economy two years ago. He now says this is just the begining of the collapse. The emperor has no clothes. Banking and auto industry failures are just the appetizers, wait till we get to the entree. BoooooYaaa!
Notice the bull has nothing to say about his predictions from a year ago. What a lightweight, nor does he make any of his own, he just tries to negate anything Peter says, which isn't real debate at all. It's pretty obvious which of the men on stage does any real thinking outside the box that the establishment has created.
The Dr. was in denial as are all of the mortgage banker folks in this series. Now the tale has been told and is unfolding. Yes, Peter looks at things as they really are. The real estate "boom" had folks so blinded, it is easy to see how hard it is for them to turn loose of what made them rich. If nothing else, step back and let this thing unravel. Build up some capital and step in once it hits the ground, rebounds and drops with a thud. THAT is when one steps in and makes money over time.
What is this "out side the box" bullshit? Peter isn't snorting coke and dropping lsd to see magic numbers; he's looking at facts. Well, moving forward we'll have to touch base on the paradigm shift from the the manufacturing economy to a service sector and ughh...well WE'LL ALL BE SERVING WAFFLES AT IHOP.
Have you been to business school? OR worked in a finance firm? It's out of the box because people are taught to think in a specific way. Schiff appears to them as outrageous because the way he approaches is out of that "box" people depend on to feel comfortable.
Yes and he's senior economist with the NCPA. Orthodox economics is a discipline in crisis and Asmus and his ilk will continue making bad predictions and flawed policy recommendations until neocalssical/Keynesian economics is retired.
I am wondering where the video for the 2007 bankers speech is. Did too many of them slit their wrists to form a respectable group. Maybe they down-sized the meeting to Ramada because the leftovers from the group couldn't fill Mirage.
I'm unimpressed at the fact that Paul Krugman won the Nobel prize, when clearly Peter Schiff deserves some real credit for his economic analysis and the fact that he totally NAILED IT.
DR Barry Asmus just got pwned. I hope he looks back at this video and know how stupid he sound when he was saying it.
Peter just NAILED him in every way. Everything in his presentation came true. I don't understand why Alan Greenspan and ben bernanke running the Fed? Peter can do his job way better than they do.
Peter is no genius, he's just analyzing the markets without bias. If you stand back and forget you have a financial stake in the markets, you can see the problems quite clearly.
Its' like having a favorite football team. Logic goes out the window the moment you start estimating if they will make it to the superbowl.
crazy
cucucachu0000 1 month ago
errr. well, Just looking back in Hindsight, allot of what Peter said, has come true.
hb7of9 1 month ago
What an ignorant old bastard.
TWSceptic 1 month ago
Seriously: --->Wells Fargo paid for the lunch??<----
calebsands 3 months ago
Seriously: --->Wells Fargo paid for the lunch??<----
calebsands 3 months ago
After so many people were blindsided by the sub-prime mortgage crisis, how can this have so few views. When wealth EVAPORATES, don't people investigate as to how they suddenly got so poor. My super-annuation fund halved in 2007. How do MORE PEOPLE not switch on to the real determinants of $ by watching videos such as this one when so many are effected and the consequences so massive. This video should be viral.
tubberputty 5 months ago
I subscribed to Schiff long ago and his predictions are astounding. It's almost as if he is telling people to behave economically and it happens.
The funny thing is I sometimes think of the extreme pessimistic POV and realize that is what he does and it's true.
Who would have thought back in 1957 that a Gibson Les Paul or Fender Stratocaster guitar would increase in value at a far greater return than a Chevrolet Belair Or Ford Thunderbird of the same vintage?
Address it Peter!
alwaysopen 9 months ago
Bigger the words the higher the pile of BS, exogenous. hahalolol
SKYSWEEPER11 9 months ago 4
please tell me the other guy is bankrupt now
roger767 1 year ago 7
@roger767 No actually he rents a 300 sq ft studio apt in a complex Peter bought with 100ounces of Gold.
westy44cal 4 months ago
They can't invite him back, I don't think these mortgage bankers can afford the plane ticket to Vegas anymore LOL
acup79 1 year ago
Wow, just wow.Just finished watching this for the first time. I've been a Peter Schiff fan for some time now but this is the first time I saw this vid and it just blew me away.
fubar28 1 year ago 3
A nuke on New York? Hmmm 9/11 came pretty damn close didn't it, maybe that's where they got the idea.
squirreljester2 1 year ago
GOD save whats left of the Republic from Keynesian "intellectuals" ... Amen!
transcend350 1 year ago 2
I can't believe after all of the explaining as to why he thought it was going to burst that people still thought he was crazy.
ddstar 1 year ago
@ddstar, that's because you neither believe 99,5% of all people are complete dumb fcuks.
Not only are unskilled people dumb fcuks, but also 99,5% of all skilled people are also complete dumb fcuks.
Just ask yourself this question: Why don't people understand that they must produce at least as much as they consume or else we will get a break down? Because they are dumb fcuks!
Today, more than 4/5 of all working people don't have a real wealth producing job, but a job to maintain laws and Gov't.
Vocalallusive 1 year ago 2
@Vocalallusive fantastic peter who would go to another forum with that other goose there
davidhenderson1950 1 year ago
When someone says everything is alright, is the time you need to start worrying.
ddstar 1 year ago
So when did the atomic bomb land?
Keyguya 1 year ago 2
in hindsight we now know which is the idiot.....
danny3571 1 year ago
That other guy is your typical Wall Street ass hat who spews bullshit with a holier- than- thou attitude. I hope he gets cancer.
hummarstra 1 year ago
peter schiff rapes that other guy with truth
TheBlitz1 1 year ago
lmao, doctor barry ass
irishgeal1 1 year ago
i WAS a mortgage banker back then... Peter was of course right.
So now I'm focused on getting prepared for the coming revolution. (Moved to a place where I can plant edibles, hoard canned & dried goods, buy ammo for my guns etc.)
y2ktube 1 year ago
@y2ktube sounds pretty good to me man, just don't live next to a large population, crazy false flag attack/power vacuum/private military occupation might happen.
TheBlitz1 1 year ago
wow, how awesome.
vegaspilot03 1 year ago
I've watched this several times. Still makes me laugh. This was the last year they asked Peter to speak at this event. Go figure. Idiots.
eteezie 1 year ago
bamb an atomic bomb hit bitch!
dontdispie 2 years ago 3
@dontdispie Tick tick BOOM!
GtheMVP 1 year ago
@dontdispie ROFL
njcarlos1 1 year ago
One of the best videos I've watched to date. Has Barry apologized? I wonder how many this year are having diner in the Grand Ballroom?
It's up to the citizens of CT to take the time to watch this video.
MrRayRPh 2 years ago
was he invited in the following years? after the burst I mean..
caveden 2 years ago 2
Peter Schiff for CT Senate 2010!!!
mantisjam 2 years ago 5
ha! ha! ha! Peter was right.....
MrArtrigor 2 years ago 6
Dr. Asshat has some videos on Youtube, he should do a tour with Mike Norman and that Michael Bolton look alike real estate clown from CNBC
Frankenpalin 2 years ago 5
lol
CumFilledTesticles 2 years ago
The guy on the right was definitely wrong. I wonder what he's thinking now? He probably is still in denial.
LetsGetItStartedNow 2 years ago 3
this guy on the right is a jack ass
jstets1978 2 years ago 4
The guy on the right sure is silly.
NotThat3 2 years ago 3
notice how this fool doesn't offer any counter-arguments to peter's predictions
93msinclair 2 years ago 6
"I think...um er...Peter's scenario...hurr...would come true...if an atomic bomb...landed on either Los Angeles...Chicago...or New York."
LOL, get the fuck off the stage, clown!
mistermayy 2 years ago 5
wow what i wouldnt pay to see the "next years video" that that guy wants to do
dave997 2 years ago 2
Schiff is a genius and is great at explaining economic principles on a macro level to an audience with average intellect. Look up his dad, Irwin Schiff on wikipedia and you'll understand more about him. I hope he beats Chris Idoddiot for the CT Senate seat next year.
rtrumble 2 years ago 4
I agree...but remember that many people of considerable intelligence fall for the nonsense of a mania/bubbles.
The Federal Reserve creates an incrdible amount of distortion when they blow up the money supply. The result is very predictable...widespread malinvestment and misallocation of resources. Harvard MBA's and average folks alike are not smart enough to understand this FED-induced bubble/bust business cycle. Keynes himself said this in 1936 when he presnted his pro-govt 'General Theory'.
seanannapolis 2 years ago
Absolutely rtrumble, Schiff is a total genius... but nobody who can actually do anything about the gov't is doing anything about it. Schiff tries again and again to explain this shit to them and they don't get it! Looks like he's gonna have to do it himself... Schiff for Senate in 2010!!
joestrummer2007 2 years ago
Wow, Peter is awesome. I'm Canadian and wish I could invest my TFSA with him. I'll have to buy his book now.
miramichi30 2 years ago 2
So, which city got nuked? I must have missed that.
AnyWayICan 2 years ago 13
I knew LA did. Plenty of house in Riverside, San Bernadino looked deserted. One mall near my home is now half vacated. I must tell you the explosion was slow, though.
PAZ0619 2 years ago
Ok, Mortgage Bankers, invite Peter and Asmus back and let's see who was right... I dare you.
alphabeets 2 years ago 4
the guy on the "right" is WRONG!!
njac1946 2 years ago
Peter Schiff is the thruth.
loosey5 2 years ago 3
lol, yes, please. Invite Peter back and tell him how wrong he was..lol.
I've watched this 8 series vid several times and I laugh harder each time. Not because I saw it coming, but because Peter did and nailed it perfectly. I can't believe these clowns don't have the decency to invite him back to this year's forum.
Maybe he can bandage a few wrists, starting with Barry's, after Barry apologizes for being dead wrong of course.
Go get'em Peter. No-one in the US holds a candle to you, buddy.
drinkinyourmilkshake 2 years ago 34
Peter the godfather Schiff!
bjarnet3 2 years ago 2
Dr. ASSmuuuuu !!! ha ha haaaaaa.
"The U.S. Economy and the economic's laws lay hid in night; God said "Let Peter Schiff be" and all was light."
All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.
ytube2000z 2 years ago
Dr. Asmus spoke to us in Jackson Hole, WY last year. He is wrong in this video series and he was still wrong in 2008. He obviously learned nothing. I pains me to listen to the man. He's wrong, wrong, wrong. It's too bad that people pay this goof to speak.
edoug8 2 years ago
lol I thought Lehman collapsed in September? So in November 2008, Dr. Asmus was still living in lalaland. Some people are just so blind, you can tell the truth in their face but the effect will be the same as speaking against a wall.
Elbottoo 2 years ago
The atomic bomb landed dickhead!
dazzagazza6969 2 years ago
how patronizing - basically saying 'he may be wrong and stupid, but he's a neat guy'
what a tool, I dare him to show his face today
pj1205 2 years ago 5
Why wouldn't he? These fuckers have no shame.
NoisemakerArrow 2 years ago
the bum at the end is a shill. Guys a jerk
IvyWarrior 2 years ago
Good stuff. We were a 12 trillion dollar economy? I did not know that. I do know that the debt and liabilities that this government has saddled us with so far is over 68 trillion. For the children.
mustang607 2 years ago
The problem with the "$12 trillion" economy is it doesn't indicate how much actual stuff is made. I could charge $12 trillion for one TV and claim a $12 trillion economy. China's GDP in monetary terms is a third of ours. But since they're so productive, prices drop and their GDP is lower. But they produce more than we do.
Also GDP is FINAL goods and services. It DOES NOT include production goods used to make things in GDP, which China makes much more than us.
thomasst2 2 years ago
Plus gdp doesn't account for all of the malinvestments being made within the economy, it assumes capital investments are homogeneous and can be seen in the aggregate but really capital investments are heterogeneous and there is plenty of misallocation that will lead to its unproductive uses that GDP just assumes to be productive.
kobe88124 2 years ago
Good point. Also products can be produced but there's nothing to indicate the production is meeting customer or entrepreneurial demand (or at least long term sustainable demand). GDP doesn't reveal capital consumption or resources wasted.
thomasst2 2 years ago
schiff just spews out knowledge. He just doesnt stop with facts and numbers...
its insane. I learn more listenning to him speak in 2 min than i did in college.
allegoryofthecave 2 years ago 3
the guy on the right reminds me of the senator from Godfather 2.
QAZWSX4122 2 years ago
Haha, Schiff and Asmus didn't shake hands at the end there.
I want to invest my money with Peter Schiff's!
Spamoram 2 years ago
Just think about how cast iron Peter Schiff 's personality and trust in what he knows has to be to put up with this nonsense. This Asmus fellow is an empty suit who gets by with the herd.
boggy111 2 years ago 2
asmus you were wrong... way wrong you fucking idiot
IstilGotGame 2 years ago
Asmus reminds me of a Lutheran "preacher" - he has nothing to say.
NoShackles 2 years ago
Dr. Asmus looked like an asmus next to Peter
1111Camilus1111 2 years ago
holy cow, Peter nailed it. Look what is happening in real estate today! Do these people ever apologies to him for ignoring his prediction?
homer30 2 years ago
There's another video where Peter talks about this talk and said he wasn't invited back the following year. LOL
flaunttnualf 2 years ago
That other fool got assraped!!!
fluff125 2 years ago 4
How dare you dismiss Dr. Barry Asmus, PhD, world reknowned speaker for over 25 years.
seanannapolis 2 years ago
overlord of our loins?
kobe88124 2 years ago
the guy in red tie is talking like some of my students that are failing ECON101
14niki07 2 years ago 2
lol, i don't mean to be a dick, but i'm glad he fails. You can clearly see how bad the system is messed up when such failures are around dictating their egoistical beleifs. What should fail, has to fail.
ExquisiteDoom 2 years ago
I'm speechless with Peter Schiff, impressive O_O
distiler 2 years ago 2
Long term yields on bonds just shot up to the stratosphere. The big drop is just around the corner. Guys, we must get ready for the Zimbabwe ride.
draggeddownthehole 2 years ago 2
This is amazing how Peter was right about everything he said.
Marine475 2 years ago 18
where is asmus now, he he he ...
quadcatfly 2 years ago 5
2:35 ... well i guess that the bomb landed, u sad old fool ....
MortalAndKnowingIt 2 years ago
This moron on the right should hide his face in shame. Bet he loves this video floating around out there making him look like the tool that he is.
eteezie 2 years ago 5
Today Events make tomorrow trends said Celente - Peter should get togther with him along with Rogers and Ron
salahuddin786 2 years ago 2
Comment removed
saurik1234 2 years ago
I bought in Dec 2006, my house is now worth 10,000 less. at least i can sleep there at night.
olh1152 2 years ago
12 trillion dollar economy that now owes 65 trillion
YllwNinja 2 years ago 3
Haha. Well said!
malibuhur12 2 years ago
The only thing I don't like about Peter Schiff is that he is almost too sure of himself.
Maybe that's a Canadian's view of the world - but I read that his Euro Pac clients suffered a massive drop in their stocks, based on Peter's picks of commodities and energy, both of which have fallen sharply...
So he's not perfect - but he makes others in his field look like knuckle-dragging morons :)
glenntaylor2002 2 years ago
Those losses were felt only by his most recent investors. Schiff focuses on long term investment strategies. You are committing the same fallacy as Schiffs detractors by focusing only on short term numbers without taking into account the economic factors in play. For example commodities went down because of an unforseen rush on the dollar, but this absolutely cannot continue because of the rate of monetary inflation.
velation 2 years ago 3
thats partially true. it should continue until more economies adopt gold as currency.
thenissan 2 years ago 3
I can't believe I watched all 8 chapters of that.... absolutely riveting
glenntaylor2002 2 years ago
haha. i was just thinking the same thing.
wadams19 2 years ago
Peter's the man. "Selling to the book"....Wow, that's a low blow. I wouldn't shake the guy's hand afterward either. He can take his short-sighted and delusional mainstream ideas and his presumptions back to "oops, I guess Peter was right" land.
fexdid 2 years ago
Peter was right again. I hope that after the collapse happened that Peter called up all of these people who disagreed with him and rubbed it in their snide little noses.
soulshaker123 2 years ago
Barry Asmus....you just made a barry, barry big ass-mus of yourself. Hard to believe you are a Senior Economist with the National Center for Policy Analysis and hold a Phd.
Kwicherbichen 2 years ago 4
Peter says there is a bond bubble that is going to pop. Few can believe that the US $ will collapse.
xa123xx 2 years ago 3
Peter Schiff is like some bloody prophet!
What a tour de force!
quillendaniel 2 years ago 3
Peter Schiff is like Cassandra.
CountArtha 2 years ago 2
wow, I nominate Barry for idiot of the year.
gamingshows 2 years ago 3
It's just brutal how Barry keeps insisting on meeting Peter again in a year and the year after to go over their predictions. I almost feel sorry for him.
doc7474 2 years ago 3
Seriously. You'd think all of these people would get the business cycle. I mean its not complicated. I personally, refuse to believe that people are that stupid. I think the evidence is pretty clear that they are evil
icfnord 2 years ago 2
Philosophical traditions run deep... It's hard to shake what your professor's professor taught his/her students. I don't think guys like this are evil, they just lack an objective view of the world. Case In Point: the guy's remarks in the last clip about how "we all see the world through a prism", and "you can prove anything with statistics". It's thinking like that that leads to mass confusion and lack of direction.
reefpirate 2 years ago 3
You can't measure intent. Let's give him the benefit of the doubt for a second and assume that he is stupid. Even if he had no clue what was going on, don't you think the responsible thing to do is actually understand the subject before he opened his mouth? Mises would have called him a babbler. It's reckless and irresponsible. If you admit that he is stupid, then you must admit that he is deliberately spreading disinformation by not bothering to learn the truth and that makes him evil.
icfnord 2 years ago 2
Interesting. But suppose this guy has bothered to find the truth, but perhaps couldn't find it or hasn't found it yet? In your definition of evil, you mention in your premise that the fact he hasn't bothered to learn the truth is what makes him evil. Is that not also a measure of intent?
reefpirate 2 years ago
Actually, I rarely use the term evil since it is frequently ambigously defined and a lot of people's definitions of evil are based on religion. I prefer to use the term anti-social personality disorder for people who commit property crimes.
I think in some degree to call him evil because he is speaking without bothering to get the facts is a measure of intent, but at least it is intent deduced from action rather than supposed.
Maybe we should just call it irresponsible.
icfnord 2 years ago
Irresponsible works for me :)
reefpirate 2 years ago
not really, why understand something if its flawed in the first place... i think peter understands enough to know that its broken... he neednt not investigate the crack, only that its broken.
thenissan 2 years ago
Peter Schiff is BRILLIANT!!! That other dude got owned!!!
thane17 2 years ago 5
Where is the Atomic Bomb, Barry?
marirsmania 2 years ago 6
Who is that silly fool on the right?
HowardATreesong 2 years ago 3
Now the dow is 6000. HAHAHA
Mediterraneanblue9 2 years ago 2
>> Now the dow is 6000. HAHAHA
It's actually 600 adjusted to 1997 purchasing power.
icfnord 2 years ago 2
fu, dollar hasnt lost 90% of purchasing power in 12 years, get your facts straight
sujajajjaakakajjs 2 years ago
how much was the average wage 12 years ago vs now.
WhitereddoG 2 years ago
~ 25k vs 50k
sujajajjaakakajjs 2 years ago
in terms of certain commodities the dollar has lost if not 90%, then more than that...look it up, stupid!
kobe88124 2 years ago
so what, people dont spend 100% of their money on "certain commodities", the average PP is down around 50% (so you could buy 2 times more stuff with 1000 dollars in 1997, not 10 times), stupid!!
sujajajjaakakajjs 2 years ago
right but not everybody bought into the real estate bubble either but you see how badly that's affected our economy...inflation doesn't seep into the system uniformly, my point is that inflation takes hold in certain sectors and that's where it does the most damage...if enough "stimulus" is injected into the system in hopes of "reviving" the economy then you will begin to see inflation all over the map. stupid!
kobe88124 2 years ago
stop trolling kid
sujajajjaakakajjs 2 years ago
95%!
AFRIKTODAY 2 years ago
He's not just a"neat guy" he is the "right guy" of the two
Creamyguitar1956 2 years ago 3
Who is the old man. He talks in sematics
Mediterraneanblue9 2 years ago
he talks in platitudes and has to create his rebuttel on the fly. He was outclassed by Peter.
fastfreddy916 2 years ago 3
Wow, what an arse Barry is....lol but then again, most of the people at the top are total and complete arses.
doanmess1 3 years ago
This series was an education in fundamentals. I think I need to buy some books of Peter's to learn more.
littlemas2 3 years ago
So where did the nuke land?
Darwinist 3 years ago 12
"So where did the nuke land? "
Right square on Barry's ass, obviously.
dlmaniac 3 years ago 11
Right on his credibility!
dre229 2 years ago 2
true
what a cock
takethisusernamebitc 2 years ago
hey man, no atomic bomb landed in America. BUt subprime happened! Stocks down like mad. In your FACE!!
imaginator 3 years ago 3
I wonder what would happen if an atomic bomb hit us now?
Wcoltd 3 years ago
Sorry Barry, Peter was right. "I don't buy it one bit", he says. lol.
shortsalebuyers 3 years ago
I guess this guy that looks like a drunk badgering Schiff is in a world of hurt now.
metropool 3 years ago
Ya, I hope Barry lost all his wealth.
Mediterraneanblue9 2 years ago 2
Peter Schiff was damn right and Barry Asmus was damn stupid.
Polishman1 3 years ago 4
wow, schiff was so right i initially thought he was explaining what happened after the fact.
prairieguy5 3 years ago 6
poor people that trusted berry's advice...
LiberalOption 3 years ago
thehelpfund.blogspot
mannyfeseha 3 years ago
Peter made another guy look like a jackass..I wonder what this chump has to say now.....OOOOOH FACE!
lfgefd 3 years ago 4
As you can see Peter Schiff was exactly right about home prices and the future of the economy two years ago. He now says this is just the begining of the collapse. The emperor has no clothes. Banking and auto industry failures are just the appetizers, wait till we get to the entree. BoooooYaaa!
prescottbill 3 years ago
man this guy has got balls talking like that to all those MORTGAGE bankers. good job Schiff.
trxtan1 3 years ago 2
Notice the bull has nothing to say about his predictions from a year ago. What a lightweight, nor does he make any of his own, he just tries to negate anything Peter says, which isn't real debate at all. It's pretty obvious which of the men on stage does any real thinking outside the box that the establishment has created.
gregtron111 3 years ago 4
The Dr. was in denial as are all of the mortgage banker folks in this series. Now the tale has been told and is unfolding. Yes, Peter looks at things as they really are. The real estate "boom" had folks so blinded, it is easy to see how hard it is for them to turn loose of what made them rich. If nothing else, step back and let this thing unravel. Build up some capital and step in once it hits the ground, rebounds and drops with a thud. THAT is when one steps in and makes money over time.
lebleup 3 years ago
What is this "out side the box" bullshit? Peter isn't snorting coke and dropping lsd to see magic numbers; he's looking at facts. Well, moving forward we'll have to touch base on the paradigm shift from the the manufacturing economy to a service sector and ughh...well WE'LL ALL BE SERVING WAFFLES AT IHOP.
RussoSlyCat 3 years ago
Have you been to business school? OR worked in a finance firm? It's out of the box because people are taught to think in a specific way. Schiff appears to them as outrageous because the way he approaches is out of that "box" people depend on to feel comfortable.
gregtron111 3 years ago 2
great upload EPAdmin
cagwell 3 years ago
Idiot.
Schiff didn't say Pluto was a planet.
Neither is the moon...dumbass.
Keiko8383 3 years ago 6
Hehe, You're right Keiko8383!
gizmo2084 3 years ago
Betcha the world is sorry they didn't listen to Peter, now.... LOL
puffrooster 3 years ago
At least he was very gracious at the end lol, I'm going to email the Dr. this clip if I can find his email.
blistex649 3 years ago 2
isnt it always those that say "it wont ever happen" that it always happens to?
;)
Go Schiff
hetgow 3 years ago 2
LOL, Wells Fargo sponsoring lunch. They're probably the only bank left that can afford the bread rolls!!
zuss10r 3 years ago 2
LOL your jokes!
CeoOfKFC 3 years ago
What a phenomenal lecture!!! Peter Schiff rules. Whoever argued against Schiff just ends up looking like idiots
chunhaylee 3 years ago 6
da bomb
avaags 3 years ago
Barry just got owned. I would really like to see the 2007 video
mdmagnuson 3 years ago 4
By the way, Barry Asmus Phd, still has a website promoting himself. Photo gallery and all. You can still book him as a speaker.
trombone7 3 years ago
Yes and he's senior economist with the NCPA. Orthodox economics is a discipline in crisis and Asmus and his ilk will continue making bad predictions and flawed policy recommendations until neocalssical/Keynesian economics is retired.
arnoldfeltersnatch 3 years ago 2
I know. It's terrible :(
NotThat3 2 years ago
Pluto is a ***Planetesimal***!!!!
Silly Peter.
jfeucht82 3 years ago
I am wondering where the video for the 2007 bankers speech is. Did too many of them slit their wrists to form a respectable group. Maybe they down-sized the meeting to Ramada because the leftovers from the group couldn't fill Mirage.
countupir 3 years ago
I'm unimpressed at the fact that Paul Krugman won the Nobel prize, when clearly Peter Schiff deserves some real credit for his economic analysis and the fact that he totally NAILED IT.
sonofaglitch2 3 years ago 11
God Peter Schiff is amazing. He destroys everyone he goes up against and he is dead right.
djsherin 3 years ago 11
I would like a feed to this guys brain to use it for profit - he knows his stuff.
scottylans 3 years ago
What's sad is just how right Peter Schiff was.... and he said all of this back in 2006
Crazyglues 3 years ago 2
LOL
DR Barry Asmus just got pwned. I hope he looks back at this video and know how stupid he sound when he was saying it.
Peter just NAILED him in every way. Everything in his presentation came true. I don't understand why Alan Greenspan and ben bernanke running the Fed? Peter can do his job way better than they do.
Ch28Kid 3 years ago 2
He wouldnt even run the Fed. Peter would have torn the Fed down, and let the country have a free-floating interest rate, depending on the region.
PAZ0619 3 years ago
The last time I checked, Los Angeles, Chicago, and New York all still exist...
jmercereau 3 years ago
What is sad is that Barry is a "Senior Economist with the National Center for Policy Analysis"
A so-called "think tank".
How sad is that?
scandalsabound 3 years ago 4
It's a conservative think-tank. Of course, they are full of shit.
notsobad 3 years ago
I like how at the very end of clip, they say that WAMU is sponsoring their lunch...
tiigran 3 years ago 2
Peter Schiff must have a time machine. Its amazing how accurate he was back then.
acdmyFbrcs 3 years ago 2
Peter is no genius, he's just analyzing the markets without bias. If you stand back and forget you have a financial stake in the markets, you can see the problems quite clearly.
Its' like having a favorite football team. Logic goes out the window the moment you start estimating if they will make it to the superbowl.
monkeyman1140 3 years ago 4
In today's world, that's genius.
djsherin 3 years ago 10