It's official...Peter Schiff is psychic.

[Moses]

Watch the whole interview. One guy says the subprime mess is no big deal. Another predicts the Dow-Jones will hit 16,000 in 2008! I hope Schiff sends these clowns a copy of the interview.

[Gogar]

+1 that's pretty amazing.

[competentone]

That was excellent.

Unfortunately, those who can be seen laughing at Schiff haven't learned any humility.

The same fools are still on TV touting their positions.

Why should anyone listen to them after they have been so wrong?

The same can be seen with our government too. You can find similar blatantly wrong comments by people like Bernanke and Paulson, yet we are supposed to believe that they can direct policy to get us out of the problems the economy is facing?

We should be listening to someone like Ron Paul if we wanted someone in government to lead a recovery.

[Moses]

Originally Posted by competentone

We should be listening to someone like Ron Paul if we wanted someone in government to lead a recovery.

Absolutely.

[nostatic]

Laffer is a laugher. Reminds me of some here who kept saying the "fundamentals are strong."

Oh, and notice Ben Stein is the one saying subprime is a "tiny problem." And also, "stocks will be a heck of a lot higher than they are now." And he says MER is cheap at $66/share. It is now $8.

What does Schiff say we should do now? Wonder why he isn't the next sec treasury.

[speeder]

Not psychic, just smart. We had people here on PPOT basically predicting the same things back in '06. (RE thread). I wonder if those other jackoffs still have jobs? Amazing how much voodoo BS/house of cards the entire economy has been based on in recent times.

[Mo_Gearhead]

God that video is great!

Can we assume that the brilliant "Talking Heads" that were 'whistling past the grave yard' while poo-pooing Schiff have now ALL crawled under some large rock?

It's tough to be the odd man out, but he never once waffled from his stance

...and now, who's faces are covered in egg?


QUOTE: "I'll bet you a lot more than a penny" (wonder how that went down?)

[turbo6bar]

Schiff and Roubini were right, but their moves back then haven't proven brilliant. Schiff recommended international stocks. That didn't work out well. Roubini doesn't time the market (dollar averages). Essentially, you should follow the talk and not the walk.

The problem with the bears, like me, is being too optimistic. I sold off equities in fall 05, but I hung onto too many rental properties. I should have sold them all and taken the tax bite. I also tried to make a buck with put options on homebuilders and Citigroup. I was right about the direction, but wrong with the timing.

[competentone]

This thread isn't about "politics or religion" -- I think it should be on the main "Off Topic Discussion" board.

[Mo_Gearhead]

I agree.

[Moses]

Originally Posted by competentone

This thread isn't about "politics or religion" -- I think it should be on the main "Off Topic Discussion" board.

Maybe. Todd can move it for me if he thinks it's appropriate.

[tabs]

Shiff had the Balls to stay on message when everybody else just said your delusional.

[island911]

Originally Posted by nostatic

.. Reminds me of some here who kept saying the "fundamentals are strong."

....

hmm... Not sure who that was, but do remember McCain saying that (and getting beat-up for it.) I also got what McCain was saying. That is, fundamentally, we have plenty of housing, plenty of food, plenty of energy .. . the ONE sector that is messed up is how we account for everything. ...it's a book-keeping problem. To get the books in order, we have gone back to the days of lenders only lending to low risk people. What the hell is wrong with that?

The big problem we have now is centered about expectations . . .linear extrapolaters and all.

[cantdrv55]

Great video. I wish I had listened to him too.

[futuresoptions]

Originally Posted by nostatic

What does Schiff say we should do now? Wonder why he isn't the next sec treasury.

Yeah, seems to me this is the kind of person we should be listening to now... Paulson doesn't strike me as an intelligent fellow...

[Nathans_Dad]

Talking heads are generally worthless as proven by this video. I was listening to a guy on the local AM radio today who was talking about the market recovering last week and saying the bottom was in and today he is talking about how this is a "perfect storm" financially and we are looking at another 1,000 point drop. Over and over the guy just kept saying "I don't know".

He actually said he thought this last rally was a dead cat bounce, but then said he reserved the right to reverse his position 180 degrees next week. LOL.

The best part was after he got done talking about the Great Depression and how the market would not recover from this recession he then had the audacity to claim he never made unsupported, hyperbolic statements.

At that point I changed the station.

[m21sniper]

OT:

Nate's dad, in seeing your avatar i just can't help but laugh and say "How bout dem cowboys!"

LOL, the worst collection of overpriced, overhyped loosers money can by. :-P

[competentone]

Originally Posted by cantdrv55

Great video. I wish I had listened to him too.

Listen to him now.

What he said on November 20:

http://www.youtube.com/watch?v=Mlo8uvlwQeQ

[YTNUKLR]

I posted this video about a week ago here:

"Wall Street didn't know WTF was going on"

Wall Street didn't know WTF was going on

[cantdrv55]

I had literally just given away my entertainment ctr and 32" analog TV that's just 5 years old so it can be replaced by a large LCD flatscreen, home theater and a new entertainment console. After making those purchases, I'm holding on to the rest my cash and stash it away in another high yielding CD. I might buy gold too but at $800/oz, it's no bargain.

Anyone else as nervous as I am after watching those You Tube vids?