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8/28/2006-Peter Schiff Predicts The US Economic Collapse With Unbelievable Accuracy

Discussion in 'Politics & Religion' started by pingpong123, Oct 26, 2008.

  1. #1
    pingpong123, Oct 26, 2008 IP
    SEMrush
  2. soniqhost.com

    soniqhost.com Notable Member

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    #2
    Pretty interesting, he was wrong on as many of his opinions as he was right.
     
    soniqhost.com, Oct 26, 2008 IP
  3. pingpong123

    pingpong123 Well-Known Member

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    #3
    Such as? I just started reading up on him so im a newbie on this one, but he was dead on here.
     
    pingpong123, Oct 27, 2008 IP
  4. soniqhost.com

    soniqhost.com Notable Member

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    #4
    First off a stock market crash doesn't mean the economy will crash to the same degree, ie a 40% drop in the dow doesn't mean a 40% drop in GDP.

    He said that low interest rates will be a thing of past, taking a look at what people are paying for treasury bonds they are almost excepting no interest on their bond. 10 year yields are 3.74%

    He says gold, oil and other commodities are a good investment but they are down close to 50% in the last 3 months.
     
    soniqhost.com, Oct 27, 2008 IP
  5. smatts9

    smatts9 Active Member

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    #5
    Peter Schiff, the guy who called the housing bubble but is completely wrong on the rest of world economies?
     
    smatts9, Oct 27, 2008 IP
    guerilla likes this.
  6. bogart

    bogart Notable Member

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    #6
    Peter Schiff's timing was also way off and timing is everything.
     
    bogart, Oct 27, 2008 IP