Peter Schiff: The Richard Dawkins of Economics
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23-12-2012, 04:58 AM
RE: Peter Schiff: The Richard Dawkins of Economics
The housing bubble was obvious to anyone looking for bubbles. He was wrong about the impending collapse of consumer credit, which has now self-adjusted, and student debt is now a much larger problem, which he never said shit about. He was wrong about the dollar collapse. He was wrong about pending hyper-inflation, as a means for the adjustement of consumer credit. In January 2009, economic blogger/banker Michael Shedlock wrote: "I have talked with many who claim they have invested with Schiff and are down anywhere from 40% to 70% in 2008". Later that week an article appeared in the Wall Street Journal reporting that Schiff's broker-dealer firm had "advised its clients to bet that the dollar would weaken significantly and that foreign stocks would outpace their U.S. peers" however the dollar advanced against most currencies. Never happened. Dr. Doom, was wrong again. Paul Krugman has debunked many of his nonsense papers, including him saying "I know inflation is going to get worse in 2010. Whether it’s going to run out of control or it’s going to take until 2011 or 2012, but I know we’re going to have a major currency crisis coming soon. Never happened, and in fact the dollar regained it's position of safe-haven currency as the Euro plummeted. In short, Schiff is shit.

Insufferable know-it-all.Einstein
Sent by Jebus to put the stud back in Bible Study. "I believe Mr. Peanut is the Messiah" -- onlinebiker
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RE: Peter Schiff: The Richard Dawkins of Economics - Bucky Ball - 23-12-2012 04:58 AM
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