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Peter Schiff on the Housing Market and the Rescue Plan

Peter Schiff is an idiot.
On October 28th 2008 he gave an interview on Bloomberg TV stating that the investment strategies

outlined on BOTH his books (Crash Proof and The Little Book of Bull Moves in Bear Markets.) "are

NOT working"

The prices of Gold and Commodities are not taking off as he hoped, and investing in foreign

currencies was a disastrous move, as the dollar has gone up while most foreign currencies have

collapsed.
Investing in foreign markets had an even worse effect than even investing in the US market, as

exports to the US have collapsed and the dollar has gone up.
Anyone who drank the decoupling of foreign economies Kool Aid is a fool and is now paying the

price.

Peter thinks that despite the failure of his theories, this is still a good opportunity for buying

"foreign stocks" and he claims that the Chinese and other Asian economies are going to consume all

the cheap junk they have been exporting to the USA.
Yeah, right.. and with what money they are going to be doing that?
Without all the money we have been sending them for their cheaply made exports, those economies

are just as broke as we are.

He was also blaming our current economic collapse to "government intervention" when everyone with

half a brain knows that it was the lack of government regulation on mortgage lending and

investment banking what allowed Wall Street companies and banks to create the collapsing shadow

banking system filled with unregulated derivatives and CDOs, all thanks to Phil Gramm and his

"Commodity Futures Modernization Act of 2000"


This guy is clueless, as anyone who followed the advice written in both his books already knows.
The Austrian school of economics that Schiff peddles, where the free unregulated markets rule is a

monumental failure, and you will see the tide turn around against it in the form of much needed

regulations to the lunacy unleashed by 8 years of the brilliant Bush presidency.

In November 21st 2008, Peter Schiff was still defending his failed financial strategies on

Bloomberg TV, predicting "massive inflation" and claiming that foreign economies like Japan were

in way better shape than we are and that gold is going to go through the roof..

The guy is clueless.. i guess he still has no concept of what a deflationary recession is..

inflation is YEARS away and it is the least of our worries.

To get a clue as to what to the economic future holds, read Nouriel Roubini's website, who

acutally happens to be a qualified economist, not some hack like Peter Schiff..

What Are Some Investment Strategies for the US's Pending Stagflation?

According to this clown, the stock market was going to crash last October 2007.. check his posts..
His "economic clock" was bullish on China.. and of course he didn't see the decline in the Chinese stock market coming, so if you had invested in China at the time, you would be looking at some nice losses..

This clown is just as clueless as any figure head speaking on CNBC..
repeat after me ..NOBODY CAN PREDICT THE FUTURE, not even clowns with PhDs..

E*Trade's Annual Shareholder Meeting Should Pressure the Shorts

why on earth would ANY company want to stay in the mortgage origination business ???
what planet has jbmaria been living in for the last year?