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Peter Schiff on more to come in the Economy

Discussion in 'Economics and Financials' started by padre31, Aug 23, 2009.

  1. padre31

    padre31 Premium Member Luxury Box

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    [ame="http://www.youtube.com/watch?v=0IQRh99bpQo&eurl"]YouTube - 8/19/2009 Peter Schiff On FOX Business: Buffett's Concerns Valid?[/ame]


    Pete Schiff is rebutting Buffet's schizoid commentary on the economy as he wrote in an op ed in the New York Times:

    http://www.nytimes.com/2009/08/19/opinion/19buffett.html

    The greenback will go on the Endangered Species list when it comes to value.
     
    gafinfan likes this.
  2. 2socks

    2socks Rebuilding Since 1973

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    Rude a$$hole announcers who didn't like it when he said Bush sowed the seeds that are coming to friution and promptly cut him off....nice

    Smart guy ...If I was in Connecticut I'd vote for him in as second.....pessimistic or not.

    Sad when people ask a question and you answer honestly and truthfully and they call you a pessimist, shake their heads at you and say your not gonna get votes with that pessimistic view:pity:

    There in lies the problem...... just don't want to hear the truth

    Maybe we can all go bury our heads in the sand and it will all pass us by
     
    gafinfan and padre31 like this.
  3. Da 'Fins

    Da 'Fins Season Ticket Holder Staff Member Club Member

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    Schiff predicted the downfall last year, of course.

    I hate the fact that the media hype Buffet on the economy. He's an investment advisor - not an economist. He made a living looking at companies in mid-america that no one thought much of b/c they were boring and he did great over time. But, he has political views that drive him.

    Schiff could care less - he is just trying to read and predict the market.

    There are tough times ahead.

    As a "former" economist (I still dabble but not in detail) the need for America to save is critical. However, savings, in the short run, hurt. But, in the long run growth models, real economic growth is a product of savings (not debt); as savings increase, investment and liquidity for businesses increase - and when S&I go up - so does economic growth.

    The Chinese and Far East in general have a lot more discipline than Americans do, in general.
     
  4. padre31

    padre31 Premium Member Luxury Box

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    The problem is, a newly emerging class of savers will see the value of their savings reduced dramatically via price increases and value of the dollar destruction.

    And to make matters worse, official Govt Inflation statistics are typically under reporting real inflation, as in prices on the shelves on the items that people use the most and declining values of homes will appear to harbringer a deflationary cycle, but that would be incorrect, such deflation is limited to housing...
     

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