10 January 2009

Peter Schiff on Economics

Don't know if people have seen this post from 10/08, but it is scary in his predictions going back 2 years:

It' s like he's saying the world is round and people are laughing at him like "You fool, everyone knows it is flat!"

Ben Stein: "Merrill Lynch is an astonishing well run company..."

Charles Payne: "Yeah, I like the financials, too...." It goes on and on.

Anyway, here's his view on the upcoming economic outlook from 11/08:

...and for 2009:


  1. Thanks for sharing. The interviewers just didn't get it and annoyed me by interrupting, but this guy makes a lot of sense.

    Maybe we will have a short term rally and then we get another crash. I liked his thought that we "need a recession so people start saving and producing rather than spending borrowed money". Awesome.

    I plan on paying off debt and saving $ in 2009. How about you? What are you going to do different?

  2. We've been in hunker-down mode for a bit. We reduced our additional retirement savings per month since certain things were so uncertain.

    I already moved a bunch of $$$ last year at work into the most stable fund I could find since our financial planner also agrees that the worst is not here yet.

    We're glad our only debt is the mortgage, but I wouldn't mind paying that down.