Peter Schiff Predicts Recession

ILG · #1 09-15-2010, 04:00 PM

Here is a video where Peter Schiff tells exactly what is going to happen and the media trying to make him look like an idiot.

http://www.youtube.com/watch?v=2I0QN...eature=related

DAII · #2 09-15-2010, 04:01 PM

I love when Republicans and FreakyCons root for our demise.

ILG · #3 09-15-2010, 04:02 PM

Quote:

Originally Posted by DAII

I love when Republicans and FreakyCons root for our demise.

Not sure what you are getting at. Did you watch the video?

coadie · #4 09-15-2010, 04:03 PM

I asked Jerym to define a recession and he couldn't a recession is 2 consecutive quarters of decrease in GDP. By the clinical definition we aren't in one. We are hurting because the 3% annual growth in the workfocre is much higher than the number of jobs increase.

The media attack any truth that doesn't make their boss look good.

coadie · #5 09-15-2010, 04:09 PM

Quote:

Originally Posted by ILG

Here is a video where Peter Schiff tells exactly what is going to happen and the media trying to make him look like an idiot.

http://www.youtube.com/watch?v=2I0QN...eature=related

I laugh at Laffer. Yes the video is 3 years old. He was wrong and we did see the subprime kill Lehman, the CDO's parked at Bear sterns and I can give a long list from the top of my head. Laffer is famous for the Laffer Curve.
AIG folded by reason of default swaps. Goldman was hurt by reason of leverage or VAR that they use to calculate risk,

ILG · #6 09-15-2010, 04:09 PM

Has anyone watched the video? This is Peter Schiff talking back in 2006 and 2007 about what is going to happen in 2008. He tells it exactly like it is and others are laughing at him.

rgcraig · #7 09-15-2010, 04:11 PM

LOL....too funny!

People posting without even bothering to watch the video!

coadie · #8 09-15-2010, 04:12 PM

Quote:

Originally Posted by DAII

I love when Republicans and FreakyCons root for our demise.

They don't cover this in public schools. America is dangerously over leveraged. If we default on treasuries, of course wealthy americans hold more federal paper than do the chinese.