Peter Schiff nailed it. Everything he's predicted is coming true. Ron Paul is HP's politician. Peter Schiff is HP's economic guru.
November 12, 2007
Peter Schiff is looking like he traveled to the future, saw what was going on, then came back to tell us about it
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33 comments:
Peter Schiff is king of the HP kooks. I laugh at his wacky predictions of gloom and doom. The sky is NOT falling...dopes
I have personally invested in Disney Dollars. Does anyone here know the exchange rate on Disney Dolllars?
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How do i buy what this man is selling??!!?!
The unravelling of the real estate scam is now moving fast. Does anyone else think that the time for hoping this would all go away has really ended? The FED cannot bail out both the banks AND the holders of worthless paper. If you think teachers union pension plans are not going to demand to be made whole again, you are dreaming. Political muscle is going to be flexed. Who then gets the bailout? Everyone? The taxpayer should have this information BEFORE the next election I think.
Did Schiff predict that Gold would take a drubbing, and the dollar rally, like it has in the last couple days?
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The collapse of the dollar is the least of our worries.
There are almost 7 billion larger issues.
Peter Schiff a.k.a. Keith (on the blogosphere)
Peter Schiff DID endorse Ron Paul
Peter Schiff, Marc Faber, and Jim Rogers are all very astute economic soothsayers. Listen to what they say.
C'mon Kieth,
Come clean bro. Are you and Peter Schiff the same dude?
RayNLA
The value of the dollar is dissapearing faster than Schiff's hairline.
zing!
Gold and internationals is where I've put my money and I'm glad. It's beginning to show that more and more that smart people are doing the same. It doesn't take a rocket scientist to figure out why these are smart plays.
I'm thinking that the next 3-5 years are going to be very fruitful for those who didn't get sucked into the mortgage pit of the housing bubble and wisely invests their money in these areas. Eventually they will bubble over like everything else but we'll be out of it by then and sitting in someone elses property at half the price!
Gold and internationals is where I've put my money and I'm glad. It's beginning to show that more and more that smart people are doing the same. It doesn't take a rocket scientist to figure out why these are smart plays.
I've done the same, for the most part. It's been good up until now, but I'm not so sure about the future. I don't share Schiff's confidence about the rest of the world's ability to pick up and recover so quickly without the American consumer to buy all their crap.
This is not a recommendation of an alternate strategy, but a warning for us not to get too cocky. There's a real financial sh!t storm brewing, and there's a good chance that investing success will mean getting by with manageable losses, rather than fruitful gains.
Hope I'm wrong.
I agree with a lot of what Schiff say's, however don't count the dollar out just yet......
Keith, a little OT but could you make a poll to find out the percentage of HP women readers?
Just curious.
The Saudi Prince just bought one of those huge Airbus A380 to make it as his flying palace.
He bought it with your money, suckers.
Americans are nothing more than Chinese, Saudis, and Israeli bitches. Keep spinning that hamster wheel harder to buy more of their crap and make them richer.
Value of the dollar has no need to be based on economic fundementals.
Value of the dollar is based on the leadership and IPods America povides the world.
Peter Schiff is crazy.
Anonymous said...
Gold and internationals is where I've put my money and I'm glad. It's beginning to show that more and more that smart people are doing the same. It doesn't take a rocket scientist to figure out why these are smart plays.
I'm thinking that the next 3-5 years are going to be very fruitful for those who didn't get sucked into the mortgage pit of the housing bubble and wisely invests their money in these areas. Eventually they will bubble over like everything else but we'll be out of it by then and sitting in someone elses property at half the price!
November 13, 2007 7:01 AM
WRONG! If we dont go back to an FDR approach then the only thing the next 3-5 years will bring is war, chaos and economic collapse. And on a world wide scale.
Quit your f@cking dreaming and get back into the real world.
Sniglet said...
Did Schiff predict that Gold would take a drubbing, and the dollar rally, like it has in the last couple days?
Drubbing? Gold is up about %30 for the year.
Dollar rally? A small bounce off its low is NOT a rally. Look at the chart for the year. Calling todays little blip a rally is beyond absurd.
If the US has a recession then ALL foreign stock markets will fall harder and faster than ours. They have gone up so fast everybody will run for the doors. We import and buy, they export. How would foregners do well without our drooling consumers? I don't buy the "world doesn't deen us" bit. 10-20 years? yeah maybe.
The dollar is likely to rebound slightly in the short run 2-3 months as various financial schemes are unwound. A rebounding dollar of a few per cent will whack commodity prices (gold) too.
Expect a continuing drop in the dollar and rise in commodity prices (gold) to continue by January.
anon said "Eventually they will bubble over like everything else but we'll be out of it by then and sitting in someone elses property at half the price!"
Sounds cozy and rosy, but anyone who thinks they'll escape the fallout needs to stop the mental masturbation. Yeah, it feels good to think you're superior to everyone else. But unless you're worth at least 10mil, you're one of the masses and you'll rise and fall with the rest of us. Sure, some will hang on better than others. It's that way in good times or bad. But when and if the crap really hits the fan it's gonna splatter everyone to some extent.
And you think China doesn't have problems of it's own? You think the world markets are gonna just charge ahead as if the US collapsing doesn't affect them? You obviously don't watch the World News Reports.
And remember, Peter Schiff is right about a lot of things, but he's a businessman, not Jeanne Dixon. No one knows how this is all gonna shake out. No one knows how X will affect Y and Z.
Also, when Peter Schiff speaks, he's advertizing his own firm. Don't mistake his remarks for Public Service Messages.
anonypussy 3:00 said . . .
"If we dont go back to an FDR approach then the only thing the next 3-5 years will bring is war, chaos and economic collapse."
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You mean more bloated entitlement programs? I guess it could work. Every public school kid knows that we'd still be in the Great Depression today if it weren't for FDR's great socialist experiment.
Peter Schiff is not the only independent economist to have seen this coming. Please don't compare Keef to Peter and his kind, because Keef was a few years late in catching on. Keef is no economist, no investor, no trader.
Value of the dollar is based on the leadership and IPods America povides the world.
iPods are made in China.
Most of the jobs that Apple's iPod and computer business have created have been -- in China.
Sure, they have a few thousand employees in the USA, but there are 10 Chinese guys assembling iPods and Macs on an assembly line in China for every engineer or designer they have working in the USA.
So where's the "leadership" again?
BTW -- if you think that the design and engineering jobs aren't going offshore too, you're not paying attention.
Schiff's excellent book and HP's bibble, Crash Proof: How to Profit From the Coming Economic Collapse, has been one of my financial guides for a long time.
Thank you Peter for helping me to protect my assets!
The FDR approach was WWII and failed ponzi scheme social programs. He also tried to expand the Supreme Court to 15 members when they refused to knuckle under his dictatorial and power hungry ways. That is the same approach Robert Mugabe of Zimbabwe took when the Zimbabwean Supreme Court ruled that his policies were unconsitutional. FDR would have loved to become a dictator like Hugo Chavez
>> Peter Schiff is king of the HP kooks. I laugh at his wacky predictions of gloom and doom. The sky is NOT falling...dopes
I'm laughing at you all the way to the bank.
The FDR approach was WWII and failed ponzi scheme social programs. He also tried to expand the Supreme Court to 15 members when they refused to knuckle under his dictatorial and power hungry ways. That is the same approach Robert Mugabe of Zimbabwe took when the Zimbabwean Supreme Court ruled that his policies were unconsitutional. FDR would have loved to become a dictator like Hugo Chavez
November 13, 2007 10:04 PM
My, my, what a great student of history you are. Comparing FDR to Mugabe, now that is downright genius thinking.
I like how Peter Schiff thinks. I called his company and found that they buy stocks in European utilities and companies that pay dividends. These companies are bought with foreign currencies and pay dividends in foreign currencies. As I understand it, they aren't growth stocks, so the value likely won't grow but a few percentage points per year, but they do pay dividends in the 8% range. I do believe that the dollar will continue to lose value for a while, so a conservative investment in a currency that is gaining value seems like a smart play. I was turned off by the 3% commission though. After getting off the phone, I thought about some of the other questions I should have asked, though. If anyone knows the answers to these questions, I would appreciate it: Is the 3% commission just to convert currency and buy the stocks, or is there an additional 3% commission when it comes time to sell? Also, would foreign taxes have to be paid in addition to U.S. taxes?
For a 3-5 year play, I think that this may be a good investment strategy despite the costs. But my little nest egg needs to be agile enough to put 20% down on a nice Southern California house when lending standards mandate a downpayment... hopefully in the next year or so. And once banks start mandating the ability to pay back these loans (no more stated income or negative am) prices will have to come down to realistic levels... at least for those that have to sell... some individuals, but mostly banks with tons of foreclosures on the books. I am hopeful that there will be an expectation reset within the next 6-18 months. Anyone have any ideas where to keep my money where it won't continue to lose value?
My, my, what a great student of history you are. Comparing FDR to Mugabe, now that is downright genius thinking.
FDR is no Mugabe. FDR failed in his attempt to stack the Supreme Court. Mugabe was successful. Learn a little history, my little idiot liberal. FDR was a greedy, power hungry elitist who wanted to be Dear Leader for life.
I have a question,
if things pan out as Peter Schiff predicts, in 15 years will he be rewarded in mainstream media as the go to guy for all things economic?
or will he be shunned and punished as part of the cause of the problems?
This stuff is scary. He might be a little too salesy of his own products, but what he says makes sense. You can't continue to print money and expect it to be artificially held up.
This goes beyond housing though. This goes to our core banking system.
Frank - Virginia Broker
Blog.FranklyRealty.com
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