Peter Schiff: Markets, Obama, Krugman, Reich (video)

YouTube ^ | 08/30/2010 | Peter Schiff

[NamVet71MP]

SchiffReport right then, right now.

[NamVet71MP]

Before looking at this video have a look at Peter Schiff Was Right 2006 - 2007 (2nd Edition) for a little context... whether you know who Peter Schiff is or not.

[NamVet71MP]

Sorry I screwed up the video reference link. Should be this YouTube.

[SkyPilot]

Watched the first 3 mins or so.

Reader's Digest version: stay out of stock market, gold will rise, oil hasn't risen because rest of world thinks we are going into double dip recession (which we are) but they will soon realize the rest of the world is recovering economically, but the US is not. Food prices will probably go up, and talk of "second stimulus" is really the 4th "stimulus" and would just heap more disaster upon us.

If anyone else wants to add the 4th, 5th, 6th, 7th mins of that tape in an abbreviated form (or if I mistated anything) go ahead.

[Rocky]

Amazing. Schiff accurately predicts the financial picture, while the other pundits laugh at him. I think I actually heard one of the others recommend Bear-Stearns as an investment opportunity. One of them says that the Dow would be going up to 16,000 in the next year (that was two years ago).

Schiff is the only one in these video clips who predicts a serious recession and the collapse of home prices.

[RayChuang88]

There's one major wildcard that could have lasting effects oin everyone's predictions: the 2010 Congressional elections. The strong influence of the Tea Party movement and the fact even the Democrats are conceding that they could easily lose the House and possibly even losing the Senate could result in the 2003 tax cuts NOT ending in 2011, Obamacare being drastically scaled back, "cap and trade" energy bill being shelved for many years, and we might finally see legislative action on something that's 30 years overdue: income tax reform.