Flashbacks
Nov 25th, 2008 at 7:41 am by Susie
Via Corrente, this interesting collection of 2006-2007 predictions by Peter Schiff (Ron Paul’s finance guy) about the coming recession (and just listen to which stocks the “experts” are pushing):
This video sequence offers a compendium of appearances (covering the 2006-2007 period) by Euro Pacific Capital president Peter Schiff, who is a frequent — and frequently disrespected — talking head on cable news shows. What astonishes is not just the accuracy of his dour predictions about the economy but the sheer arrogance of every other person appearing on these programs.
I don’t know who comes off as worse — the supremely snotty Ben Stein, or the well-named Arthur Laffer. I just wonder how Ben Stein feels about the financial markets as an investment now.
This is an astonishing compilation of clips. It just keeps getting more outrageous as it goes along.
Every time Schiff says something sensible, the pundits surrounding him snort and howl. They treat him with undisguised contempt and hatred, as though he had just called for ending the laws against homicide or reducing the age of consent to three.What did these “experts” hope to gain by attempting to conspire against reality?
(By the way, I am aware that Schiff was the economic adviser to Ron Paul. I still don’t like Libertarians, and I’m sure that Schiff has an ideological angle. But when a guy proves that he can call the shot, then one must give him credit.)
compare ben stein in those clips to his column in the NYT business section Sunday!
He sure has come to Jesus lately.
I thought nothing could top the Jim Cramer greatest hits on Youtube but this one sure comes close…
That’s amazing. It kills me, though, that Schiff’s response is “Cut government spending.” LOL!
While Ben Stein was talking about how financial stocks were “a good buy” - there was a disclosure on the video clip stating that Ben Stein owned shares in Merrill Lynch. I expect that the resulting drop in his net worth caused him to rethink this stuff.
The groupthink going on was pretty spectacular, though. No wonder the pundits keep saying “nobody could have seen it coming” - every time someone said “look out” - they closed their eyes, stuck their fingers in their ears, and hummed really loud.