When Prophets Speak The Insults Fly And To America's Peril
Links to several 4th Quarter 2006 interviews in which Peter Schiff warned of the coming economic collapse (Imagine going back in time, and moving your money out of the market within a few months of these interview). Watch how the other analyst are openly laughing at Mr. Schiff.
- Fox News Cavuto on Business 12/31/06
- CNBC Kudlow & Company 12/29/06
- Bloomberg Market Pulse 12/28/06
- FOX News Bulls and Bears 12/16/06
- Bloomberg Market Movers 12/6/06
- CNBC Kudlow & Company 11/20/06
- CNBC Morning Call 11/15/06
- CNBC Morning Call 10/20/06
- CNBC Morning Call 10/4/06
Ben Stein, you and your buddy Arthur Laffer (remember Stein's description of the Laffer curve in Ferris Beuller's Day Off) were totally and absolutely WRONG!
Look how the world has changed in just the last year since money manager Peter Schiff was being laughed off the talk show circuit for the crime of accurately stating the inevitable - a global economic meltdown.
While Mr. Schiff is not a prophet, and while I hope his latest prediction that Barack Obama's attempt to rescue the U.S. economy will only result in a deeper recession, it is obvious from the video (above) that alarm bells were ringing years before the global economic meltdown - and no one was listening.
The point to this post is that there were voices out there telling it like it is (years ago), and no one in a position of authority wanted to listen. This is most important as history has a way of repeating itself.