Watch all eight parts. This, HP'ers, is a tour-de-force. This, HP'ers, is the most brilliant presentation you'll ever watch on the Late Great Housing Ponzi Scheme.
This presentation is important.
And this presentation was so spot-on, from start to finish, you'll be amazed. Blown away. And regretful if you didn't listen back then, or today.
Part 2 is most interesting, where Schiff puts the blame where it lies - on the immoral and reckless fiscal policies of Greenspan and Bush, which created the most irresponsible debt-fueled consumption binge in human history.
And then Schiff gets into CDO's, AAA ratings on crap, liar's loans, renting money from a bank, why work when you can just own a home, ARM timebombs, why the whole house of cards was about to collapse, and what's still to come.
"As pendulums swing, they don't swing to one side and then stop at the middle.. So as expensive as real estate got, that's how cheap it's gonna get. People are gonna be completely amazed at the prices that houses are gonna be selling for in a few years. Amazed."
Peter Schiff saw it coming like no other. He gets it. He got it. And he is HousingPANIC's #1 guru.
Bravo Peter Schiff. Bravo.