Peter Schiff is a broken clock. He got lucky on the housing collapse as he talks about everything collapsing all the time. But, like most Libertarians, he grossly misunderstands the monetary system and money/banking. And there are many things he was wrong about after the collapse, but here is one that is glaringly obvious as he is wrong about everything he said... here was his quote on the Glenn Beck show in 2009.
http://www.foxnews.com/story/2009/12/29/america-on-leash/
Inflation, consumer prices, interest rates, and unemployment have all gotten better since this statement. Why are Libertarians wrong so much more than they are right? Because they don't understand economics and monetary systems. You can read my predictions from 2010 on and they have been almost dead on. One thing I underestimated was the stock market but otherwise it's because I have a real understanding of the system. Libertarians will tell you everything single year that the economy is going to collapse, hyperinflation is going to happen, blah blah blah. Sometimes economies hit a crises and they'll claim they know what they are talking about. However, they never ever admit when they are wrong. They just make excuses and extend the timeline. Peter Schiff will be saying that there will be a currency crisis every year for the rest of his life. Anyone who invested based on Peter Schiff's understanding of the economy after the crisis has gotten destroyed. Funny thing is they have been making this same argument for the past century. They are a broken clock.
http://www.foxnews.com/story/2009/12/29/america-on-leash/
Inflation, consumer prices, interest rates, and unemployment have all gotten better since this statement. Why are Libertarians wrong so much more than they are right? Because they don't understand economics and monetary systems. You can read my predictions from 2010 on and they have been almost dead on. One thing I underestimated was the stock market but otherwise it's because I have a real understanding of the system. Libertarians will tell you everything single year that the economy is going to collapse, hyperinflation is going to happen, blah blah blah. Sometimes economies hit a crises and they'll claim they know what they are talking about. However, they never ever admit when they are wrong. They just make excuses and extend the timeline. Peter Schiff will be saying that there will be a currency crisis every year for the rest of his life. Anyone who invested based on Peter Schiff's understanding of the economy after the crisis has gotten destroyed. Funny thing is they have been making this same argument for the past century. They are a broken clock.
uppy:
up.
