wow, I just saw that. The crazy thing is that I feel Peter Schiff is right. We have been living on borrowed time for so many years and it just seems like we are at that critical juncture now. Yikes! Well, choose from 2 options: Hyperinflation or Deflation? Which poison do you want? 🙁
Thank you hipmatt! Very nice video. Peter’s theory is similar to Robert Kiyosaki. Most Americans are spending on their credits / easy future money. It’s going to explode and may cause recession:
Some people still live in their dreams and think that houses will continue to go up to support their fancy easy lives. Well, at least we are smart to realize it and prepare ourselves for the future.
Have you guys that are fans of Schiff followed him for a long time? If I recall correctly ( and I could be wrong about this ), he used to live in Newport Beach by me, and sold out many years ago fearing an RE crash and relocated to the east coast somewhere. I think he already had an east coast office and he moved to it. He was very outspoken at that time about a pending RE crash, which is just now happening many years later.
The point I am making is that I think his predictions have not been historically very timely. I am sure from his fund if his performance is good, he makes quite a bit of money, but he left millions or itleast 1M on the table when he left Newport Beach many years too early.
He gets alot of press due to his gloom and doom predictions which is always a way to get your name in the news. Maybe he will be right, but I would love to see someone in here analyze his track record to see how good he has been over time.
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