This is a phone call to the Dave Ramsey show from January 23, 2008 regarding Peter Schiff and his book, "Crash Proof." During the call, Dave Ramsey calls Peter Schiff an "idiot," and Peter's father...
This is a phone call to the Dave Ramsey show from January 23, 2008 regarding Peter Schiff and his book, "Crash Proof." During the call, Dave Ramsey calls Peter Schiff an "idiot," and Peter's father a "nutburger" and a "kook."
I had to cut the last two minutes due to length, but the full call is available in the archives on Dave Ramsey's website under the "Economy" heading.
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If you look to the right you will see this show was taped on Jan. 23 2008. By OCT 2008 the stock market did crash. The NY Times on Oct. 11, 2008 said it was the worst bear market in 80 yrs. Peter Shiff WAS right and don't even get me started on the gold issue. On the issue of taxes...I suggest you run as fast as you can to Amazon . com and buy The Creature from Jekyll Island by Ed Griffin.
Why the stock market has faired worse, and for any ten year period for the past 40 years, the market has averaged 11.8% return, with some mutual funds returning 12% to 14%. Our biggest and brightest companies are still producing. It's not the end of the world. Because of panic Gold is artificially inflated, but it'll sink again like a rock. I'd be selling gold now, not buying. Meanwhile, there's a blue light special on stocks and funds.
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But man, oh man, has he been wrong about gold.
He's wrong about Schiff, too.
Anyways, I hope the woman followed her dad's advice.
Poor ol Dave I guess he's not so smart NOW.