Peter Schiff: Stimulus Will Be Disaster

Discussion in 'Economy' started by Kevin_Kennedy, Feb 6, 2009.

  1. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    Peter Schiff Stimulus Bill Will Lead to "Unmitigated Disaster: Tech Ticker, Yahoo! Finance
     
  2. Paulie
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    Paulie Platinum Member

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    It's eventually going to lead to higher taxes, higher inflation, and LOST JOBS.

    But that's ok with Ravi, because government jobs will be created instead :rolleyes:
     
  3. Andrew2382
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    Andrew2382 Gold Member

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    guy knows his stuff
     
  4. Paulie
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    Paulie Platinum Member

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    Eh, he's not perfect. He was dead wrong about moving out of the Dollar into foreign equities last year. His clients lost a lot on that. I was ALMOST one of them, but decided against it.
     
  5. auditor0007
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    auditor0007 Gold Member

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  6. Annie
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    Annie Diamond Member

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    Keep this one going, I want to watch this when I'm home. Can't at school, lunchtime detention officer here. ;) Silent lunch, besides I wouldn't want to scare the 8th graders, they're scared enough about the economy.
     
  7. mash107
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    mash107 Active Member

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    eventually? :p i think 1.8 million jobs lost already is bad enough... and one can't blame that entirely on the housing market collapse.
     
  8. Modbert
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    Modbert Daydream Believer Supporting Member

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    :lol: And you want to follow his advice NOW? Now that is rich.

    Of course, whatever prediction he isn't right on; his supporters can just say "don't worry, it will happen eventually".
     
  9. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    There's been a lot of criticism for Schiff recently, and his response has basically been "don't worry, it will happen eventually." That being said, he's absolutely right about this. He was right that the recession was coming, when few others did, and he's right that this stimulus is going to make things much worse. Those who believe trillion dollar deficits are the answer need to use some common sense and think, if government spending will get us out of this mess why are we in it in the first place?
     
  10. Paulie
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    Paulie Platinum Member

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    The guy was one of a select FEW who had the balls to go on TV during the height of the housing boom and predict the collapse, even in the face of being literally LAUGHED at by the other pundits.

    I trust his views on the government's domestic capital allocation, he understands the consequences. I part ways with him on investment advice, because no one can be sure what a currency is going to do.
     

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