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Just curious... who do you include in that list of people who properly diagnosed the crisis? Personally, I would say Nouriel Roubini and Peter Schiff were spot-
by skylan_q 14y ago
Just curious... who do you include in that list of people who properly diagnosed the crisis? Personally, I would say Nouriel Roubini and Peter Schiff were spot-on with this since they started talking about it in 2003-2004.
- _delirium 14y agoSchiff's prediction was that there would be an economic crisis soon, driven by hyperinflation and a dollar collapse. That is... not exactly what happened.
- nl 14y agoPrediction is not the same as Diagnosis. Peter Schiff did predict problems in the housing market. He thought there would be hyperinflation, whereas the opposite occurred. Not sure if that is a good record or not.
- lake99 14y ago> whereas the opposite occurred No opposite. There certainly is inflation. Just not hyperinflation. Some Austrian economists have also written on what exactly will bring about hyperinflation [1]. In short, it is when large amounts of money comes into circulation, i.e. when you and I can borrow that money to buy stuff. Peter Schiff follows the Austrian school of economics, but he is not an economist himself. His highest degree is a bachelors in finance and accounting. [1]: http://mises.org/daily/3390 http://mises.org/daily/3390