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Mish on Schiff

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January 26, 2009 – Comments (7)

Mish has a post outlining all the reasons why investors who believed in him did not have such a great 2008.

Mish did well for his clients and he was one that I frequently told people to invest with if they wanted an advisor.  

I tried reading Schiff's stuff, but, well, he just did not make the cut on my reading list.

7 Comments – Post Your Own

#1) On January 26, 2009 at 5:58 PM, dwot (45.74) wrote:

Oh gee, credit cards aren't a license to print money?

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#2) On January 26, 2009 at 7:15 PM, RVAspeculator (29.57) wrote:

I have been reading Mish's deflationary dribble for a better part of a decade now.   I am glad he finally got a few months of deflation so he could FINALLY gloat.

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#3) On January 26, 2009 at 7:33 PM, Entrepreneur58 (37.01) wrote:

Well, in fairness to Schiff, when a tidal wave hits, the water goes out before it comes in.  What we may have witnessed at the end of last year was the tide going way, way out there before the big wall of water comes rushing in.  Gold did hit a 5 month high today.

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#4) On January 26, 2009 at 7:56 PM, johnw106 (63.03) wrote:

Yes but as I stated over a month ago concerning Schiff and investing in China. When the tide went out it took all of his clients with it and they drowned in massive losses.

If you had talked to any business people and ignored "economists" they would have told you when the US doesnt buy goods no other country makes money. Countrys like Korea and Aus make their money selling parts to China, then China assembles the parts and sells them to the US and Europe.

America and Europe have shopped until we dropped. The only countrys you will see remain stable over the coming months are the agriculture based economys. Viet nam. Parts of China. States such as Kansas. Industrial-petroleum based economys will flounder for years and see flat to little growth. 

As to China turning to domestic growth. Never happen Captain. The government in China will never allow a true middle class to come into being. What they will do is try to keep the peasants from rioting and will resort to police action when the western idea of stimilus fails, as it most assuredly will.

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#5) On January 28, 2009 at 2:17 PM, ByrneShill (77.38) wrote:

Hey Deb, no comment on yesterday's budget? How d'you like our moron in chief taking a 2000$ loan in the name of each man, woman and children?

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#6) On January 28, 2009 at 6:42 PM, dwot (45.74) wrote:

ByrneShill, notice I stopped promoting the Canadian dollar.  Canada isn't in as bad shape as the US, but with the degree of incompetence in charge, well, when the bill comes in it will be hard. 

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#7) On January 30, 2009 at 3:51 PM, TMFCrow (97.29) wrote:

I enjoy reading Mish as well. For those that are interested here is Schiff's rebuttal.

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