Peter Schiff Saw It Coming

Want to hear some really bad investment advice? Listen to most of the talking heads on this clip. Then listen to Peter Schiff. Amazing!

Hat tip: Treowth

2 responses to “Peter Schiff Saw It Coming”

  1. Art King Avatar
    Art King

    Yes indeed, this guy does sound like an accurate prophet. The problem is that guys like Peter have been making the same prediction every year since I started paying attention in 1984. I’ve heard basically this same argument about an impending crash based on the indulgent sins of the USA every single year. Of course, recessions come along from time to time, so when one does come along, we can look back at whoever happened to be predicting doom the year before and applaud them. Whey don’t we ever look back at all the failed crash predictions and demand accountability or at least dish out some ridicule?

    Why are there so many more doom predictions than actual crashes? It is a win-win gamble for the them. If they predict a crash and nothing happens, it is forgotten and no big deal. If they predict a crash and something does happen, they are celebrity heroes. The reverse is never true. People who predict good times and pretty much ignored if their predictions come true.

    Hey, your blog can help! Put up a clip from last summer of some expert confidently telling us to prepare for $5 a gallon gasoline by Christmas .

  2. Brent Logan Avatar

    Yeah, there are always the gloom and doomers who get to say I told you so when it happens. This guy was not only right about the coming crash, but also the cause. I’m willing to give him a little credit for that. I guess it also helps to soften the blame game when virtually no one seemed to know what was coming.

    Actually, I have following a blog that was confident the gas price thing was just a bubble in the making for quite a while. Looks like he was right, too.