Peter Schiff was Right has been going around for a while, but it just finally made it’s way to me - thanks Calin! I first heard of Peter a few months back when I read his book Bull Moves in a Bear Market which I really enjoyed. I can’t say that I am on board 100% with everything he says, but he seems to be a very common sense guy in the midst of foolishness.Well anyway, in the video, it shows clips of Peter being interviewed on a bunch of business news stations and giving his predictions on the US economy and him being laughed at by just about everyone back in 2006-2007. While I wish he would have been wrong, he had some foresight about what debt, greed, and hype would inevitably do to our economy and we have and are continuing to watch it come to pass.
We all know that our economy is facing a bit of a credit crisis right now among other challenges and I don’t care to dwell on it, but it is such a sweet feeling watching the video and seeing how they mocked him as he patiently stood his ground. Tim Geithner is pulling every lever possible to "restart lending" and recreate the securitization market - now backstopped by the government.
