May 27, 2008

Peter Schiff mocks the idiots on Kudlow & Co.

Schiff was right on housing. He was right on gold. He was right on foreign stocks. And now he's right on the run-away inflation that's taking over the world.

31 comments:

HB Slacker said...

A Dream Ticket would be Ron Paul and Peter Schiff 08
in America only in a dream

Anonymous said...

If Americans had the money to stock up on stuff and hedge their bets so to speak they wouldn't be in this damn mess.

Anonymous said...

The Africans don't have a spending gene, that's why they're poor....duh!

I guess we should do some genetic modification of them.

Anonymous said...

HEY!!- the Mormons were right - !
That year supply thing anyhoo!

DOPES said...

STOCK UP ON HOUSES!

BUY CONDOS!

BUY LAND!

HOARD IT!

STORE IT IN YOUR CLOSETS!

STICK THEM UNDER YOUR MATTRESS!

BUY, BUY BUY BEFORE YOU CAN'T GET IT!!!

DOPES!!!

Mark said...

The American consumer is just acting like the American government...spending more than they have.

Mark said...

Peter Schiff predicts Obama is going to win...

AND make things MUCH MUCH worse.

Listen to the tape.

Anonymous said...

someone should make a website with clips showing how many times Schiff was right. he's been right on the money since the late 90's yet has also been ridiculed every step of the way.

Anonymous said...

I have stopped watching Kudlow because the talking heads just DON'T get it. How long was Kudlow saying Goldilocks and there is no inflation? Please.

nasty midnighter said...

Due respect, but Schiff is reduced to attacking straw men here. The commentator did not mean, literally, that there is an American spending "gene." C'mon dude.

Anonymous said...

.


That's the point most Americans Don't have the money!


.

k.w. - southern ca. said...

Schiff makes absolute perfect sense.

Unfortunately, what this gives rise to is a survivalist mentality and way of life, and that's a mind-set which is not good at all for the overall health of this country.

Toby said...

The failure of price controls is well documented and unlikely. The last major price controls in this country were instituted by Richard Nixon and Gerald Ford - Republicans! WIN - whip inflation now.

One might expect a clamp down on the futures market and speculators though.

Anonymous said...

oh man, we are so f'd if the monkeys in congress decide to implement price controls.

They wouldn't be that stupid, would they?

i guess on one hand it would be a success, the monkeys could claim "look! gas only costs $4/gal!, so what if you can't find any to buy"

Anonymous said...

not sure i buy what he's saying about there not being any speculators pushing up prices. everyone i know has bought and is buying more commoditiy etf's (gld,slv,oil,cef), some are even buying futures contracts (even the proverbial shoe shine guys)

anoncanuck said...

runaway inflation taking over the world? not here in Canada.

Anonymous said...

That is not true about foreign stocks. Most are down more than US stocks this year.

Anonymous said...

Peter Schiff- Everything you have talked about in the past is generally happening now or has happened.

Thanks for your honesty and foresight in the middle of so much stonewalling by our govt!!

I look at it like, if our govt. was so enept that they couldn't even handle a small regional disaster like Katrina, we are utterly and completely SCREWED if our financial system continues to be gutted on a daily basis by the criminals that run this country!!

It will soon be each man for himself in this world, so get lean, stock up on what you can, and batton down!!

kilgore said...

He's right as hell about Obama.

Dream ticket: David Walker and Jim Rogers

Anonymous said...

Hahaha.. I love Schiff but it's just too easy to ridicule the mass media. I stopped watching TV (the mindcontrol box) for news and information a long time ago. But I guess a lot of people are still slurping up the media Kool-Aid...

Anonymous said...

Schiff makes absolute perfect sense.

Unfortunately, what this gives rise to is a survivalist mentality and way of life, and that's a mind-set which is not good at all for the overall health of this country.


You're missing the point because you're thinking like a typical supply sider. It's good for people to live within their means. That means they're saving and not over-extending themselves.

Delusion and spending on credit is not going to save the economy. It will only delay the inevitable.

Anonymous said...

Hey Keith, Schiff just threw your hero Obama under the bus. Anything to tell us? Any spins?

Anonymous said...

Peter Schiff predicts Obama is going to win...AND make things MUCH MUCH worse.

Shiff said to stock up on cheap chinese crap also. OMG I might have to pay 10 cents more for American made non-toxic toothpaste.

I for one welcome the day when Obama becomes President and fixes the unfair trade policies of Bush & Co.

Anonymous said...

I would LOVE to see price controls on gas, even just for a year or so. LOVE IT LOVE IT LOVE IT.

I don't own a car. I drive a bicycle everywhere.

Let's call this price control bill the "World's-Cheapest-Gas-Is-Not-A-Birthright Education Program".

LOVE IT!!!!! BRING IT ON!!!!!

Food though--that would be tougher.

Stuck in So Pa said...

kilgore said...
He's right as hell about Obama.

Dream ticket: David Walker and Jim Rogers
============================
Better "Dream ticket": JOHNNY Walker and Jim BEAM

(sorry, couldn't resist!)

LauraVella said...

Whom ever is the next President will exasperate this depression by throwing every resource at it in the hopes of stopping it.

It's 7 years too late. Neither political party has the knowledge or power to change anything.

all the talking heads, especially Kramer are trying to convince their cult listeners it's a good time to invest in the stock market...

Anonymous said...

the market talking heads KNOW things are really bad, they just don't want to panic the traders.

Listen to Kudlow and cramer- too of the worse circus barkers in the business.

They are scared. Really scared.

Anonymous said...

Schiff makes absolute perfect sense.

Unfortunately, what this gives rise to is a survivalist mentality and way of life, and that's a mind-set which is not good at all for the overall health of this country.


What the F&@% are you talking about?????

What type of mentality do you exactly think built the US out of nothing?

You see... it's people like you who have been brainwashed to give up their birthright which is what is eventually going to lead to the destruction of the country as a whole.

Just a bunch of metrosexual politically correct boot licking whiner sheep. God forbid that you should actually take ownership of your own life - much easier to be chained and fed. Let's all just get along now.

Stand up and grow a pair. Become independent! Why the F&@% do you expect that someone else is going to worry about your survival? Don't you see that you've already been sold down the river?

Anonymous said...

runaway inflation taking over the world? not here in Canada.

Bull chips!

Gas has more than doubled in the last three years.

Going out to the pub costs twice as much as it used to 5 years ago.

Don't even get me started on food. Every time I go into the supermarket I put a hundred bucks down and I keep bringing out less and less.

Anonymous said...

That is not true about foreign stocks. Most are down more than US stocks this year.

Yes, but since the USD dropped in value compared to the Euro, US stocks fell further than foreign stocks.

Stop comparing apples to oranges.

Either use US dollars or Euro dollars for both foreign and US stocks and THEN do a comparison.

Reality said...

Thriftiness is what enables capital accummulation, which enable productivity growth and building of true wealth. Printing money does not creat wealth; it only redistributes wealth, from hard working ants to grasshoppers.

I heard the funniest piece on NPR while driving home. Some idiot Berkley professor was promoting foreign aid, saying that in poor Africa countries farmers make up much of the population; the poor farmers can not make a living therefore turn to gang violence, therefore foreign aid is necessary to keep them calm. No wonder college graduates are defaulting on their student loans; what a load of crap are passing for learned thoughts and being fed to students nowadays. Did it ever occur to the professor that the African farmers are poor because food prices have been too low for too long in those countries precisely because of the free food from the aid programs? They turn violent because being in control of the local government which receives the aid programs was the most cost-effective way of "growing" food in those parts of the world. When we stop aid programs altogether, perhaps they will turn their attention to local food production instead of focusing on fighting over what food and other mana which are falling from the sky courtesy of foreign aid programs.