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Peter Schiff has been out there calling each of these economic bubbles every time. Not with date setting of course, but we do know The Fed's policy making creat

• partiallypro 10y ago
  Peter Schiff is not really a very reliable person to cite. Do I think we are in a bubble? I do. But Schiff has been saying we were in a bubble and nearing hyper-inflation for the past 20 years. I would much rather look at what big money people are doing with their money, like Soro, Gross and Icahn. They have turned bearish within the past 6 months, some even doubling down since.
  • Olscore 10y ago
    Well, I enjoy the doomsday economy predictions. Probably due to holding a negative view of fiat currency. He was one of the few pointing out systemic issues before the 2008 crises and is consistent ideologically and politically. If you don't like the Austrian School or Libertarian thinking you'll probably not like Schiff. Hyper-inflation is hyperbole warning for ignoring national debt, because it's likely the only end-game. Federal spending has doubled in the last 15 years, and politicians continue to make more promises. It's unpopular to talk about the national debt or federal spending which is exactly why Schiff is great; he consistently highlights gratuitous spending. Predicting specific bubbles is less important than pointing out fundamental issues like devaluing the USD and over spending. His doomsday attitude is a constant reminder there are larger problems than specific markets.
• dragonwriter 10y ago
  > Peter Schiff has been out there calling each of these economic bubbles every time. Not with date setting of course No, he's been predicting a series of crises for the last ten years, and other than the home finance market collapse that he got into predicting late, not one of them has come true. > we do know The Fed's policy making create booms and bust cycles We know that positive feedback mechanisms within the market which run into limits create boom and bust cycles; both monetary policy at the Fed and fiscal policy by Congress could either exacerbate or mitigate the intensity of those cycles.
• brerlapn 10y ago
  "Peter Schiff said back in January that the US would have a big recession this year. If we don’t have a recession this year, people will forget Schiff’s false prediction, as well as false predictions of major crises in the US in 2015 and 2013, and recall his correct prediction of the 2008 recession. (Insert broken clock analogy here.) Whenever I hear that someone has accurately predicted a recession, my evaluation of that person declines." http://www.themoneyillusion.com/?p=31615 http://www.themoneyillusion.com/?p=31615