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02-19-2010, 10:09 AM
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#1 |
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A Dude
Join Date: Feb 2005
Location: Newtown Square, PA
Age: 44
Posts: 12,416
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Peter Schiff on the Deficit and Debt
Pretty funny, but also pretty apt message.
__________________
God made certain people to play football. He was one of them. |
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02-19-2010, 10:24 AM
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#2 |
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Gamebreaker
Join Date: Mar 2008
Location: Waldorf, MD
Age: 40
Posts: 12,514
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Re: Peter Schiff on the Deficit and Debt
That was pretty good.
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02-19-2010, 11:24 AM
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#3 |
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Serenity Now
 
Join Date: Feb 2004
Location: Canada
Posts: 2,008
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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. |
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02-19-2010, 11:30 AM
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#4 |
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Serenity Now
Join Date: Feb 2004
Location: Canada
Posts: 2,008
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Re: Peter Schiff on the Deficit and Debt
And of course if you've never heard of Peter Schiff you should watch this:
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. |
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02-19-2010, 11:31 AM
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#5 |
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Gamebreaker
Join Date: Mar 2008
Location: Waldorf, MD
Age: 40
Posts: 12,514
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Re: Peter Schiff on the Deficit and Debt
I'll check that vid out in a bit
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02-19-2010, 12:00 PM
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#6 |
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MVP
Join Date: May 2004
Age: 45
Posts: 10,164
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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.
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02-19-2010, 12:04 PM
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#7 |
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MVP
Join Date: Feb 2004
Location: Seattle
Age: 44
Posts: 10,069
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Re: Peter Schiff on the Deficit and Debt
This is all funny stuff but the serious question is why do the Chinese and others still continue to buy US treasuries if the expectation is that we have no intention of paying them back? This question I imagine doesn't have a funny answer.
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"The Redskins have always suffered from chronic organizational deformities under Snyder." -Jenkins |
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02-19-2010, 01:15 PM
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#8 | |
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MVP
Join Date: May 2004
Age: 45
Posts: 10,164
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Re: Peter Schiff on the Deficit and Debt
Quote:
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. |
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02-20-2010, 07:12 AM
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#9 |
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Playmaker
Join Date: Mar 2006
Location: Northern,Va.
Posts: 2,706
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Re: Peter Schiff on the Deficit and Debt
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02-20-2010, 08:22 AM
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#10 | |
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Uncle Phil
Join Date: Feb 2004
Posts: 45,256
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Re: Peter Schiff on the Deficit and Debt
Quote:
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02-20-2010, 01:07 PM
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#11 | |
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Serenity Now
Join Date: Feb 2004
Location: Canada
Posts: 2,008
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Re: Peter Schiff on the Deficit and Debt
Quote:
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