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-   -   Peter Schiff on the Deficit and Debt (http://www.thewarpath.net/debating-with-the-enemy/35300-peter-schiff-on-the-deficit-debt.html)

Schneed10 02-19-2010 11:09 AM

Peter Schiff on the Deficit and Debt
 
Pretty funny, but also pretty apt message.

[YT]NkEtArDFNYA[/YT]

tryfuhl 02-19-2010 11:24 AM

Re: Peter Schiff on the Deficit and Debt
 
That was pretty good.

CrazyCanuck 02-19-2010 12:24 PM

Re: Peter Schiff on the Deficit and Debt
 
Peter Schiff is my idol. God bless him.

I recommend his books to anyone and everyone (Crash Proof 1.0, Crash Proof 2.0). He does a great job explaining how the US got into this mess and how it will likely play out down the road. And let's just say he's not very optimistic.

He's already saved a big chunk of my portfolio and I'll heed his advice a million times more than the loud mouth dorks on CNBC.

CrazyCanuck 02-19-2010 12:30 PM

Re: Peter Schiff on the Deficit and Debt
 
And of course if you've never heard of Peter Schiff you should watch this:

[ame=http://www.youtube.com/watch?v=2I0QN-FYkpw]YouTube - Peter Schiff Was Right 2006 - 2007 (2nd Edition)[/ame]

I love when Ben Stein is telling people how cheap the banks are and what a great buy they are lol. To his credit though he did publish an article in which he admitted he was wrong and defers to Schiff.

tryfuhl 02-19-2010 12:31 PM

Re: Peter Schiff on the Deficit and Debt
 
I'll check that vid out in a bit

FRPLG 02-19-2010 01:00 PM

Re: Peter Schiff on the Deficit and Debt
 
Both videos are equally hilarious and depressing. Watching him make the incredulous arguments in the first is funny only to the point that he is totally right and it sucks. The second video makes you wonder wtf? Everyone was blown away by his pessimism and he was right in every imaginable way. He wasn't sorta right. Exactly right. Almost like he perpetrated some giant conspiracy to make his predictions play out down to the tiniest of details. And watching the "analysts" give recommendations on stocks like WaMu and the financials was irony at its best.

saden1 02-19-2010 01:04 PM

Re: Peter Schiff on the Deficit and Debt
 
This is all funny stuff but the serious question is [URL="http://www.ustreas.gov/tic/mfh.txt"]why do the Chinese and others still continue to buy US treasuries[/URL] if the expectation is that we have no intention of paying them back? This question I imagine doesn't have a funny answer.

FRPLG 02-19-2010 02:15 PM

Re: Peter Schiff on the Deficit and Debt
 
[quote=saden1;664844]This is all funny stuff but the serious question is [URL="http://www.ustreas.gov/tic/mfh.txt"]why do the Chinese and others still continue to buy US treasuries[/URL] if the expectation is that we have no intention of paying them back? This question I imagine doesn't have a funny answer.[/quote]

Yeah I don't think so either.

I guess they do get "paid back". I mean they do pay back the bonds...by buying other bonds. I guess like any pyramid scheme everyone makes money except for the few left holding the bag at the end when there's no more suckers left. Those dopes are shit outta luck.

budw38 02-20-2010 08:12 AM

Re: Peter Schiff on the Deficit and Debt
 
[url=http://www.politicsdaily.com/2009/07/21/can-peter-schiff-unseat-chris-dodd-in-2010/]Can Peter Schiff Unseat Chris Dodd in 2010? -- Politics Daily[/url]

SmootSmack 02-20-2010 09:22 AM

Re: Peter Schiff on the Deficit and Debt
 
[quote=CrazyCanuck;664811]And of course if you've never heard of Peter Schiff you should watch this:

[url=http://www.youtube.com/watch?v=2I0QN-FYkpw]YouTube - Peter Schiff Was Right 2006 - 2007 (2nd Edition)[/url]

I love when Ben Stein is telling people how cheap the banks are and what a great buy they are lol. To his credit though he did publish an article in which he admitted he was wrong and defers to Schiff.[/quote]

I never realized Fabio became a financial expert (2:43)

CrazyCanuck 02-20-2010 02:07 PM

Re: Peter Schiff on the Deficit and Debt
 
[quote=SmootSmack;665054]I never realized Fabio became a financial expert (2:43)[/quote]

LOL. And a bad one at that...


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