Hey, it's gotta be tough to be a discredited idiot like Mike Norman. When you've been proven wrong on everything, and I mean EVERYTHING, and your nemesis has been proven right on everything, and I mean EVERYTHING, you should just shut it all down and go home. Or I guess these days you go on Fox TV and make yourself look even dumber.
The funniest thing is that Mike Norman, the "Economic Contrarian", actually tries to charge people for his bad advice. "Economic Contrarian"? Man, Schiff is the true economic contrarian, and people who listened to him made a fortune and protected their wealth. Norman on the other hand is the biggest sheep there is. "Mike Norman - the Economic Sheep". Yup, that's more like it. Remember this is the same guy who thought a 10% rise in houses prices was in the bag this year. Whoops.
Watch this video. It's hot. Damn, I love Schiff. Dude is right. Dead right. Invest with him. And Mike Norman is The Biggest Idiot in the Room. Here's a bit of the transcript:
Schiff: "If you're the typical American who has dollar income who has dollar based investments, your wealth is evaporating.
Norman, The Economic Sheep: "It's not evaporating. That's total disinformation"
Schiff: "For years I've watched you on television tell people that oil was going to go down, that gold was going to go down, that the dollar was going to go up, you've been dead wrong on everything on every prediction you've ever made, and you're criticizing me?"
Norman, The Economic Sheep "You're a peddler of disinformation"
November 04, 2007
HP Hero Peter Schiff destroys HP's new "Biggest Idiot in the Room" candidate Mike Norman, the "Economic Sheep" on this Fox News video
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55 comments:
Murst?
Notice how Norman tries to (what we call in psychology "a projection") transfer his position as the true disinformation agent to Schiff.
Norman, Norman, losing credibility faster than the Bushie bots at Faux News, and Bernanke. Some people don't mind living without any principles, just to make a dirty buck. Then they go home to look their kids in the eye or kiss their family with that disgusting mouth.
I second that nomination!
What most surprises me is that Peter Schiff even condescends to argue with this Mike Norman character.
Mike Norman, who predicted another 10% rise in national real estate prices for 2007, somehow still manages to find his way over to Fox to pretend to be someone who does his homework before telling other people how to invest (lose) their money.
If I were Schiff, my response would be: "I'm sorry Mike, I only debate with people who've overall made money for their clients. It's sort of a pre-requisite for me, since my time is limited and I want to get the most out of it."
Update - Mike Norman IS the biggest idiot in the room - as he was for Congress's intervening stupidity during the whole Schiavo mess.
What is it about being a hardcore right wing GOP zealot and being a total idiot? Man, I miss it when Republicans actually were the ones that wanted governement off the backs of the people. Like Reagan.
I'm disliking this Norman idiot more and more every day. Keep sending more HP'ers.
http://mediamatters.org/items/200503250003
NORMAN: Yes, anger that this is happening to Terri Schiavo. And the world is looking at the United States, and they're seeing this basically judicial branch of government taking over. It's an encroachment, and we're seeing it also in other forms -- legislation from the bench -- and I think that's very dangerous to our institutions, it's dangerous to the economy, and ultimately, it will be dangerous to the stock market. I've never been worried about this outflow of money on the part of foreigners, but if they lose confidence, and they're seeing this unfolding here, we could have this problem.
Norman is obviously the peddler of economic disinformation!!!
Are Mike Norman and Greg Swann related?
Loss of buying power is too hard a concept for ex-jocks like Norman
I feel sorry for the average Joe who has to figure out what to believe, after listening to those 5-year-olds...
In this series of clips I can easily forsee Mike Norman rising to douche status similar to that of David Lereah and Laurence Yun. Yeah, he's that much of a douche-bag.
Particlarly annoying is how Norman is incapable of keeping his yap shut when other people are speaking. You have Schiff there trying to lay down some truth, knowledge and information and he never gets to the end of his point because Norman is constantly chirping off in the background.
This is the point where we need a good old fashioned hockey fight where Schiff pulls Norman's jersey over his head and just goes Tie Domi on his ass.
hey HPer's,
we should all spam FAUX news and tell them to can Norman and give Peter a 1 hour show.
the very last segment of that clip is a good one- Peter addresses and predicts credit card debt as the next big disruption.
the red head actually gives him the opportunity to explain it- i like her. it's a tough job moderating w/ Court Jester Mike Norman interrupting everyone.
also, what the heck kind of accent did that Yullon/Yuller (?) guy have? sounded like Finland meets Long Island.
"we should all spam FAUX news and tell them to can Norman and give Peter a 1 hour show."
Better still, I think they should do a 5min special with me, the gobshite Norman and Cramer just for good measure in a locked room!! Hey, I'd even give the fee to charity.
What a pathetic panel - except for Peter Schiff.
However, it just goes to show you that you don't have to be smart to earn a 6-figure income.
Even the the Fox anchorette tried to tell Mike Normal that the dollar doesn't buy what it used - apparently she does her own shopping - but he was having none of it.
Why are the biggest neo-con idiots the one who interrupt the most? Part of keeping people from hearing the truth.
Schiff murdered him.
I was having dinner at a relatives house Saturday, and my older relatives who have much invested in their retirement accounts but before now always looked at me like I was Mars when I brought up the housing bubble, decided to bring up the subject themselves this time. In their infinite wisdom, they have declared that the news of the "sky is falling" because of the housing mess is a "PR stunt" by Democrats as we head into the election year. They used the "timing" of the propoganda as their reasonable proof that their assumption about the evil Democrats is correct. I can only say my stomache was nauseated, and I refuse to argue about it. Good luck with their dollar-based retirement savings.
we should all spam FAUX news and tell them to can Norman and give Peter a 1 hour show.
Hey HP idiots,
Norman doesn't work for Faux. They were debating on Neil Cavuto's show. How many times has Schiff been invited to the Clinton News Network?
What is it about being a hardcore right wing GOP zealot and being a total idiot?
Loss of buying power is too hard a concept for ex-jocks like Norman
Cultural demographics.
The GOP has turned into a party run by the same gym-rats turned fraternity brothers.
And then they turn Jesus freak when they're 30 or or 40 or something. The pseudo-religiosity absolves them from both having to think seriously and critically about both their past actions (Jesus wuvs me!!!) and consider any future problems, especially those which require thoughtful communal action (Jesus is comin back and the environment ain't gonna matter!)
Look at George W Bush.
Apparently his primary activity in college (according to others who knew him) was figuring out who the 'cool guys' were and who the 'nerds' were and making sure to suck up with the cool ones and make fun of the nerds.
The amoral businessmen manipulate the prejudices of these types to get what their class wants (money and power, c.f. Darth Cheney who thinks gay marriage is OK, but otherwise....).
The overt and aggressive and exclusionist pseudoreligious identification is just a continuation of the frat-pack. Keep the minorities and the nerds down, and when they start to yammer with some nerdy debate team or physics club BS, give em a noogie.
Look how they (e.g. Fox News) are treating Ron Paul.
Now I think Paul is nuts, but he's a whole bunch more like a traditional Republican. But I guess that means pre-Nixon and so I think we have to now treat a typical Republican as what they are now.
Don't forget this classic duet from Mike Norman and Meatloaf from 2006. Peter Schiff eats all their lunches.
Gotta go, it's time spank Tom Brady and those rotten, cheatin Patriots.
ttp://www.youtube.com/watch?v=yoZV5jt9puc
Guys like Norman make me sick
Check out the link provided by anon 3:35 for Norman's site. What's with the spelling in the banner at the top: "exmaining argyments... since 1993"? Is that a play on words or is the guy just an fn moron?
Here's Peter Schiff endorsing Ron Paul
It all comes together
http://www.youtube.com/watch?v=9UuivYdiS5w
What a prick
mike "what artificial lending standard are you talking about" norman.
Mike Norman
Address:
55 Broad St.
New York, NY 10004
Phone:
877-777-7713
Fax:
212-248-7242
E-Mail:
contrarianmedia@hotmail.com
I remember Mike Norman from www.thestreet.com back in 2003 timeframe.
He was shorting gold at $400 level or maybe $450.
Hey Mike, if you think gold was a good short at $450, it must be a fantastic short at $806,eh !?
:~)
Correction: Mike Norman was shorting gold at $450 on www.realmoney.com
NOT the thestreet.com.
How ironic is that !! Shorting gold at $450 on www.realmoney.com.
Fox News should find a worthy opponent for Peter Schiff.
Mike Norman vs. Peter Schiff is like Peyton Manning versus the 49ers.
oops sorry Niner fans :~)
Is Lumber the New Gold?
By Mike Norman October 31, 2006
"OK, so you may have guessed by now that I am pretty sure housing has seen the worst."
http://www.fool.com/personal-finance/home/2006/10/31/is-lumber-the-new-gold.aspx
so bleeping contrarian. more of this joker:
"Adding it all up, I've come to the conclusion that barring any major upturn in unemployment, the housing market still looks pretty sound, notwithstanding this period of softness. More importantly, the homebuilding companies look like incredible bargains -- they remain deeply, deeply undervalued. Mr. Market has once again come knocking on your door with wonderful discounts. You might not want to let this opportunity pass. I'd take a closer look at these downtrodden homebuilders."
http://www.fool.com/personal-finance/home/2006/09/19/a-bubble-or-a-value.aspx
this must be his doppleganger.
http://www.fool.com/investing/value/2006/08/29/watch-what-ceos-do.aspx
So he liked housing and the homebuilders in 2006, and recommended shorting gold.
Nuff said.
Fox News however is the perfect home for this guy.
Here is his take on no-money-down housing:
Question: What is your opinion on no-money-down housing developments, like those going up in the Poconos? — Scott (Fair Lawn, NJ)
Mike Norman: Scott, I think no money down is great. It's one of the ways that Americans are benefiting from trends like globalization and the rising use of technology. By lowering capital costs we have access to more credit and that helps the real estate market. As long as we don't enact policy that harms these macro trends, then there is little risk in these highly leveraged loans. As for the Pocono developments themselves, they may have run up too far too fast just as most other properties have, but long-term they're fine.
Hey Keith
I recently sent Mike an email regarding his debate with Peter and this is his reply:
In 2005 I predicted a real estate correction, not in 2006. Last year prices rose 1.2 percent nationwide for your information; they did not "collapse" 40-50 percent as Schiff has been saying. More importantly, since 2002, when the dollar peaked against major currencies (and I was bearish on the dollar then), the U.S. economy has added nearly $4 trillion in output on a nominal basis and about $2 trillion in real terms (which means, adjusted for inflation). By the way, on that last point, Schiff has tried many times to say that the GDP numbers are "inflated." This exposes his lack of knowledge regarding how the data is reported.
Schiff's main point in all of this is that the US is a broke, bankrupt nation. He uses nonsensical arguments, like, "we only consume and don't produce." That is completely laughable. Schiff puts way too much emphasis on the $250 billion in goods we important from China, when in reality it is small compared to the overall size of our economy. It is also less than what we import from Canada and not that much more than we import from Mexico.
I can go on, but I won't. If you want to be "de-programmed" and escape the Schiff cult, I will be glad to help, but you must be open and allow the truth to enter your mind. If not, go on believing this misguided quack.
Here are some other facts:
In 2002 S&P lowered Japan's sovereign debt rating to a notch above junk. The Nikkei Index was at 7000 at that time. It has more than doubled since then.
In 2005 S&P lowered GM's debt rating to junk when GM's stock was at 28, now it is 38 and has been as high as 42 recently.
Merrill Lynch made a $10 billion net profit last year ($71 billion gross profit). It can take this hit and still come out profitable, by a wide margin.
Finally, the foreign exchange value of the dollar is meaningless unless you are an American taking a trip to Paris or some other country where the local currency is more than the dollar. You will be paying more. However, for domestic purchases there is no effect felt or a marginal one at best. More important, consumption by foreigners in the U.S. keeps economic activity supported to a degree that otherwise would not have been the case if the dollar were very strong. Nowhere is that more apparent than here in New York.
Cheers!
-Mike Norman
You stupid DemoRat sheep still think Hitlary cares about you? Yeah she will give you free healthcare by paying for it out of your pockets. I bet you stupid sheep believed Slick Willie when he claimed that he felt your pain.
The DemoRat Potty is still run by pointy headed Ivory Tower professors who have never had to live and work in the real world. BWAHAHAHAHAHA
It always makes me laugh watching these ridiculous "business" shows on MSNBC, Fox News etc.. when they bring on Peter Schiff and present him as "the village idiot" or Chicken Little. He'll state some facts and then the assembly of morons on the show will guffaw and call him crazy or a moonbat.
Then the next segment of the show will be about something as important as "was giving away tacos at some recent baseball game a good business move for Taco Bell" and the jheri curled whiteboy real estate agent will give his 2 cents on the value of a taco. It's just mind blowing stuff out there in TV land!!
Anon @ 8:33PM, welcome to the discussion, Mike. I see you're choosing diplomacy to plead your case, rather than expletives.
Here was Mike's response to my e-mail back in August (granted, I did call him a sh**-for-brains):
You're a total f***ing moron and the kind of a**hole that threatens the long-term greatness of America. Keep following schiff and enjoy your brief moments away from your miserable life you scumbag.
------
On that note, HP posts:
LONDON -- Banks are likely to mark down another $10 billion of mortgage assets in the fourth quarter, according to one analyst's estimates.
One thing that blows my mind is how many people think the Fed is good for the economy when they *blatantly* lie about inflation using their Core CPI excluding food and energy including substitutions. If you can't see that this is all smoke and mirrors then you aren't aware of what a "Consumer Price Index" is meant to measure or you are a complete moron.
Of course inflation looks awesome via the David Copperfield Core CPI. It's a fucking obvious sham!
With a clearly manipulated inflation measure how can you rely on any statistics that come from the Fed?
Mike Norman: You're a total f***ing moron and the kind of a**hole that threatens the long-term greatness of America
Is that all the FoxNewz crew has left?
It's the same pathetic manipulative
rah rah frat-boy crap with the Iraq war.
Because they have no actual facts to show that things aren't going down the tubes, the response is:
"If people criticize the President, then we'll be divided and demoralized and the terrorists will win! Everything going wrong is because of *your* *kind* of traitors!"
It'll all good(TM)! And soon enough Jesus will save us!
Just clap harder, and believe in never-never land, like Ronnie Reagan!
Whatsamatter? You some kind of liberal, with that numbers this and numbers that bullshite?
Yeah, they weren't laughing at the end of the video. The bimbo looked like she was going to cry.
maybe norman should go to work at cnbc with the rest of the stock pumpers over there. its nice to see liz again. i wondered where she would end up. looks like she went over to the enemy. peter schiff's father stuck his finger one too many times in the eye of the beast and so now sits in prison. i guess the son is trying a different approach. i like some of his advice but not all of it. control of your own assets is crucial in the times that are upon us. and physicals is the only way to go at this time. playing games with currency is dangerous and investing in foreign companies is dangerous. for when we fall, we shall bring down the world and if anyone cannot see that, then they are dreaming. it is all connected.
anon at 833 here
Hey tyrone good for you!! We all know this Norman guy is an idiot. Doesnt this guy look like a used car saleman in a $2000 suit. But you know its sad that most americans would follow a flash in the pants guy like norman than someone like Peter.
Tyrone said...
Anon @ 8:33PM, welcome to the discussion, Mike. I see you're choosing diplomacy to plead your case, rather than expletives.
Here was Mike's response to my e-mail back in August (granted, I did call him a sh**-for-brains):
You're a total f***ing moron and the kind of a**hole that threatens the long-term greatness of America. Keep following schiff and enjoy your brief moments away from your miserable life you scumbag.
------
On that note, HP posts:
LONDON -- Banks are likely to mark down another $10 billion of mortgage assets in the fourth quarter, according to one analyst's estimates.
November 05, 2007 12:02 AM<<<
dip sticks at fox always talk about america's greatness like it is something that needs to be worshiped. someone once said(and it wasn't tocqueville) that if america is great, it is because she is good. if she ever ceases to be good, she will cease to be great. we have stopped being good so now we suffer our fait. fox news and most of its pundits spew the same boring tired old rhetoric. they blow smoke up the collective asses of dumb americans who think that being patriotic is watching fox news and listening to rush limbaugh and believing everything this traitor we have in the white house ever says. but as we all know this is not possible for many here at hp. but what can be expected of trolls like mike norman? what can be expected of the reporting at fox? after all is it not true that fox is owned by rupert murdock, a rabid zionist and a rothchild banking agent?
It was nice to see the newslady getting pissed at Norman and going to Schiff.
That Assman is so irritating though.
On that note, HP posts:
LONDON -- Banks are likely to mark down another $10 billion of mortgage assets in the fourth quarter, according to one analyst's estimates.
November 05, 2007 12:02 AM<<<
write down of billions??? try trillions....
that is why they are so worried.
there is no way out of this mess.
the game is over. and soon the people will know this and realize that they cannot depend on the system to right itself one more time like it has so many times before.
keith said...
Update - Mike Norman IS the biggest idiot in the room - as he was for Congress's intervening stupidity during the whole Schiavo mess.
What is it about being a hardcore right wing GOP zealot and being a total idiot? Man, I miss it when Republicans actually were the ones that wanted governement off the backs of the people. Like Reagan.
I'm disliking this Norman idiot more and more every day. Keep sending more HP'ers.
http://mediamatters.org/items/200503250003
NORMAN: Yes, anger that this is happening to Terri Schiavo. And the world is looking at the United States, and they're seeing this basically judicial branch of government taking over. It's an encroachment, and we're seeing it also in other forms -- legislation from the bench -- and I think that's very dangerous to our institutions, it's dangerous to the economy, and ultimately, it will be dangerous to the stock market. I've never been worried about this outflow of money on the part of foreigners, but if they lose confidence, and they're seeing this unfolding here, we could have this problem.
November 04, 2007 10:52 AM<<<
reagan was just a actor who got installed as president. when you have powerful friends like he had, it was a shoe in. actually reagan was a communist who pretended to be a conservative because they figured it would help him get elected to different things and it worked. he was a total sham of a president and a total sham of a man and ever since he started meeting his future contacts while he hung around betting establishments in the chicago area, he learned the art of the hussle....reagan was a bought and paid for man who danced when they told him to dance and spoke when they told him to speak. his whole life was one of doing what he was told in order to feather his own nest and he was nothing more than a shabbat goyim with powerful friends in the chicago jewish mob. when the jewish mob went west and founded hollywood , reagan followed out there with them. he sold his soul for a dollar and everyone thinks he was great...only God knows what happened to him in the afterlife.
mike norman is dopes.
Guys like Mike Norman always have an answer. I predict that when equity markets and the dollar crash, he and Kumblow will blame the short sellers, liberals, advocates of financial transparency, and other imaginary America haters. The sheeple will believe him, because America is the greatest country in the world and our President is a good Christian.
Here's a great line from the late Alan King ...
"Anyone Who Owns His Own Home Deserves It"
Oh, I almost forgot, Reagan was another idiot who couldn't even think straight because his diseases was turning his brain cells into mush. That guy wasn't running crap because he couldn't reason without brain cells and his stuff was always covering for him, hiding him, the usual deception games that only the GOP can pull. Now, his condition was probably payback for all the crap that he did in his lifetime.
It seems that Keith drank the Kool-Aid flavor "how wonderful Reagan was". Whatta joke!
Perhaps Lawrence Yun should be concerned that Mike Norman may have better qualifications for Chief Economist position at the NAR.
Mike continues to never let Pete talk. I think Mike is afraid of Pete. Mike really is a super putz.
Schiff has a good grasp of what is happening. I liked his book and his interviews. But stay far clear of Euro Pacific Capital... they will charge you 3.5% to buy a stock and 3.5% to sell a stock. You heard that right... 7% round turn.
Mike Norman said . . .
"[T]he foreign exchange value of the dollar is meaningless unless you are an American taking a trip to Paris or some other country where the local currency is more than the dollar."
----------------------
*crickets chirping*
Mike Norman is the next Sean Hannity. Pretty face. Empty head. Mark my words. lol
Schiff has a good grasp of what is happening. I liked his book and his interviews. But stay far clear of Euro Pacific Capital... they will charge you 3.5% to buy a stock and 3.5% to sell a stock. You heard that right... 7% round turn.
As an American citizen how would one buy a stock directly on a foreign exchange? For example, I asked Vanguard once about buying a listing on the Singapore exchange (but not available on a U.S. exchange or as an A.D.R.). They were clueless.
To buy foreign stock you need to have an account w/ a company that can trade on that exchange. For instance I trade with Interactive Brokers - one of the cheapest to execute domestic trades - and they allow you to trade on i think over 20 foreign exchanges. Anywhere that has electronic trading you should be OK. I wanted to buy a Taiwanese company though and they couldn't do it for me.
Since this thread has gone political.. moveon.org and the liberal environmental aholes who want to empower terrorists, waiste resources on fantasy global warming conspiracies should keep up the nonsense because the sane Americans will have enough and not vote in a Billary Clinton.
Your advice not to deal with Euro Pacific is unfair. My guess is that you do not have an account with them. If you did you would likely feel differently. For small orders they may charge 3.5%, but for larger amounts the commissions are lower. Also, as Euro Pacific advocates buying and holding dividend paying companies, few stocks are ever sold, and those that are usually result from the stocks being taken over, in which case the capital gains far exceed any commissions that may have been charged. Plus they do the research for you and help you select your stocks, something that discount brokers do not do. They also do not charge any management fees. Also most discount brokers trade foreign stocks on the pink sheets, where the bid-ask spreads are far wider then the commissions Euro Pacific charges. So even if you pay 3% to Euro Pacific, you could end up saving money.
My experience is that if you use Euro Pacific and pay 2 -3% commissions to buy and sell, over the long run you will end up paying about 1% on the value of your account per year in commissions. This is much better then paying management fees to mutual funds, or trying to pick the stocks yourself. All and all it’s a very reasonable price to pay to get good advice and good executions on foreign stocks that are difficult and more expensive to buy at many other firms.
Anonymous said...
Schiff has a good grasp of what is happening. I liked his book and his interviews. But stay far clear of Euro Pacific Capital... they will charge you 3.5% to buy a stock and 3.5% to sell a stock. You heard that right... 7% round turn.
As an American citizen how would one buy a stock directly on a foreign exchange? For example, I asked Vanguard once about buying a listing on the Singapore exchange (but not available on a U.S. exchange or as an A.D.R.). They were clueless.
November 05, 2007 5:27 PM<<
i like schiff but i have to say, that this idea of his to invest in assets that are in other currencies will simply not work if this economy goes south in a big way. once this happens, the entire house of cards called the world fiat money system where one currency is weighted against another will come apart at the seems and this mighty wave will take down everything in its path , including japan and china and all most other countries in a world wide economic depression. so taking that into account , i would think that investing outside the united states , is dangerous and unnecessary and foolhardy.
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