Friday, November 14, 2008

Peter Schiff vs. idiot market commentators:

Shiff, totally correct about housing and the economy, was disputed and ridiculed over the last couple of years. A collection of segments where Shiff appeared on Fox is here (10 min YouTube).

Shiff is a Ron Reagan / Ron Paul guy and favors less government spending. Whatever you may think of that, his remarks on housing and credit were correct.


Well, that was fun.

A bit off topic (still economy thought}:
Does anyone have any idea what to do abot the GM/Ford/Crysler circle jerk? Did anyone notie that Mercedes thought it was hopeless and just walked away?

By Anonymous Rockie the Dog, at 11/14/2008 9:50 PM  

I checked the prices on the stocks they touted (the financials). All were down huge. Anyone who took their advice lost 60% to 95%.

I'm not happy about it, but I think given the current global recession, it's okay to keep GM and Ford alive. If they go down it will make it much harder to get the economy going again. I think $100 billion is a worthwhile (!) amount to put out. It may all be lost, but I think we've got to prop up a number of businesses until we get this capitalist system straightened out.

By Blogger Quiddity, at 11/15/2008 12:44 AM  

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