8/28/2006-Peter Schiff Predicts The US Economic Collapse With Unbelievable Accuracy

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[SevenFootPelican]

It's scary how absolutely right Peter was and how absolutely wrong Aurthur was.

[SirTenenbaum]

@lordhighexecutioner Only savings allow for investment which leads to the production of new, innovative products. We always have a desire to consume new ipads, medical treatments, etc. Saving is merely withdrawing from present consumption to engage in future consumption of goods that are produced because of the investment of savings. Savings and production allow for consumption. Only through savings can investment be made to provide goods for consumption in the future.

[iambilly1984]

I wonder if Peter ever actually got his penny? Nope, doubt it... just more grief from different analysts saying he doesn't know what he's talking about when he says our currency is going to collapse.

[perezcpt]

Our buddy Art is endorsing Newt Gingrich... 

[TheScyy]

@logan0178 Look up his views on monetary policy and his views on the fed. He is against the very things that causes this boom and bust economy. Go and actually learn about the fed and how our countries monetary system is run. You are against the very same things he is, only he actually knows the cause and you just want to throw money at the issue which is just throwing fuel on the fire.

[mrpetermjohnston]

I think schiff is a lot more effective here than in more recent features. he remains calm and makes short, precise points that the average schmuck can easily grasp,

[SevenFootPelican]

@logan0178 Now you're just dancing around the confrontation... real fucking cute. Again, it's pretty evident that you have nothing to back up your overwhelmingly unwarranted and, quite frankly, entirely stupid prior claims. You can sit here and attempt to throw petty insults at me -- but the fact remains that you still haven't (and probably are incapable of) pointing out how, in any way shape or form, that Schiff was even remotely responsible for the crisis. Stop dancing around the question.

[logan0178]

@SevenFootPelican You prove me right with your infantile retort. You know nothing of what you are trying (and failing) to talk about.

[SevenFootPelican]

@logan0178 Clearly you're the fucking retard. How naive of you to go ahead an generalize all investment brokers. I'm asking you to elaborate on how Peter specifically was even partially responsible for the crisis we witnessed in '08. All you do is point out the obvious of him being the CEO of an investment firm - yet you fail to mention anything he's done to take part in the crumbling of our economy. There are tons of investment brokerage firms out there - not all are responsible for this mess.

[whotookmyusername]

It's interesting how Laffer looks so much like an evil goblin and Schiff looks like an honest campaigner for truth and justice.

Hollywood - make this a movie!

[logan0178]

@SevenFootPelican Are you seriously that moronic? He's an investment broker, and the CEO of Euro Pacific Capital.

No one said he was the SOLE cause of the meltdown you retard. He is certainly one of the many responsible.

[SevenFootPelican]

@logan0178 Peter is the CEO of a relatively small investment firm... so how do you figure he was responsible for the financial crisis? You don't even bother to elaborate... He wasn't in charge of the rating agencies giving AAA ratings to sub prime mortgages, he wasn't in charge or even a part of any of the large, too big to fail predatory lending investing firms like GSachs. He wasn't a home buyer who borrowed what couldn't be lent back.. wasn't an insurance company... again, can you elaborate?