Randy_H

WSJ Weighs in on Peter Schiff

Does Schiff really understand Austrian theory? Or does he just rely upon some very rudimentary money-theory, common to both monetarist and Austrian schools, and then draw big lines into the future? I tend to think the latter is the real truth.

Schiff's every recommendation, statement and position rely upon an assumption that trends will proceed uninterrupted by unseen, unknowable, unplannable gotchas. Well, if even some of what he ultimately predicts will play out at the macro level occurs then his disciples will be sitting there shocked, wondering how being right could lead to being so wrong about what to do.