Friday, November 21, 2008
I know I'm late getting to this, but after seeing several different blogs point to this video, it finally dawned on me that it must be pretty good.
This is coming from someone who tends not to watch video clips since you can't skim.
Observe in only ten minutes how Peter Schiff stood his ground, often in the face of open ridicule, on a series of national television appearances as he accurately predicted the collapse of the Housing Bubble.
His arguments are solid. If any of the idiots who pooh-poohed his contention that market fundamentals were lacking had had any sense, they would have been unnerved by his calm, certain demeanor -- and then checked their premises at the first opportunity.
Plus, the video is funny. Schiff -- with some help from a thing commonly known as "reality" -- has made complete asses out of the whole lot of them.
I think I'll follow Mike N's lead by making a list of Schiff's opponents for future investment reference. It is worth noting that the Dow, which hit something like 7,500 yesterday, was about 13,000 during at least one interview on the clip, and one economist was predicting that it would hit 16,000 within the year.
My thanks to all who recommended this video. You have dispensed justice and investment advice at the same time! Who says morality isn't practical?
PS: Kendall J posts more on "The Continuing Collapse" over at The Crucible and Column.
Today: Corrected an error and added a PS.