I like Schiff’s commentary because he doesn’t sugar coat it. Consequently he is not very popular in mainstream as people would rather keep their heads in the sand or listen to hot air.
The Government bailout talk appears to have subsided. Helicopter Ben last alluded to it being the responsiblity of the lenders, but this line:
“Wall Street may be able to buy some time by bailing out troubled hedge funds to keep their worthless subprime mortgage investments off the market…
hints that the only bailing out will be for the investors own stupid choices, not the homeowner.
Call Schiff a doomsdayer, but would you rather listen to him or the broker who cleared a $500k loan for someone with a $35k income?