Nov 2006 Peter Schiff Mortgage Bankers Speech Part 4 of 8

In 2006 Peter Schiff tells over 1000 mortgage brokers they are about to be out of jobs. Watch how he completely nails the coming real estate/mortgage debacle before anyone else even realized it was coming.

Category:

News & Politics

Tags:

• Peter
• Schiff
• economy
• commentary
• analysis
• mortgage

[LeftLiberalSoCal]

I went to the money show in Las Vegas in see Peter live in person. He was fantastic and had allot of courage. There was a live panel with Peter and these Wall Street Stock Brokers from NY. The brokers were all against him. These guys were wearing like, $9000.00 suits,gold watches, Armani shoes,really slick looking. And they were totally telling you what you want to hear. Car salesmen types. They were all laughing at Peter and telling the audience he was full of shit. I wonder who's laughing now?

[cospy77]

Hey, I am British and I think you ROCK! Thanks for the exposition. Will ignorant people like President Bush listen?

[sha370z]

people took out loans on dead people . one guy had 20 homes loans

[sha370z]

a women had 6 loans for 1.3 million and in 2006 she was broke it was on dateline show 

[sha370z]

people say they made $400,000 a year

[TheScyy]

@jaffijoe He has every right to be cocky though, unlike these Keynesian economists who were laughing at him every day up till the housing market collapse. When you know your stuff and can make accurate predictions using the knowledge you have gained the right to act like you know what you are talking about.

[Esoparagon]

He picked it perfectly and I bet he made a mint lol. The mainstream economists all cry, 'no one could have seen this coming?' Take your head out of the sand noobs this guy is just schooled you in how the world works.

[elnik32]

Obama and other politicians should watch this video so that at the very least they can see that someone who knows what he's talking about doesn't need a teleprompter or a speech writer. This is what knowledge looks like. But only fools believe that politicians know anything about economics. One exception of course, Ron Paul, but there are too many tools voting for fools like Bush, Obama, etc. for Ron Paul to get elected.

[NudIaug]

Pure genius

[TheBlitz1]

incredibly accurate

[GonReis85]

@LeftLiberalSoCal I saw the same in the Business Today Conference, NY (2009). Great comment.

[gaguy1967]

yes, it could be. Though a treasury bubble burst in 1994 and it didnt cause a recession, just a slow down in 1995. But we have so much more debt today than in 1994.