Use access key #2 to skip to page content.

Peter Schiff Video Blog - July 24, 2009



July 25, 2009 – Comments (6)

6 Comments – Post Your Own

#1) On July 25, 2009 at 11:48 AM, portefeuille (98.75) wrote:

Good video, but Schiff should not forget that (1+a)^6 = 2.4 (140% up for the Hang Seng Index does not give you a = 1.4 / 6 = 0.2333 -> 22.3% but a = 2.4^(1/6) - 1 = ca. 0.1571 -> 15.71% (and analogously for the Dow Jones Index). Still "not bad" ca. 16% p.a. ...

Report this comment
#2) On July 25, 2009 at 12:13 PM, kaskoosek (30.20) wrote:

One of the fundamental mistakes he commited is buying miners at the highs of 2008.


I think that there are a lot of stocks which are hedges against inflation, so why buy the most expensive ones??? 


Also, there are still very good US companies which have international exposure, Why buy the crap in China???


PM, KFT, DEO, PEP all come to mind. Multinational companies are the safest due to diversification.

Report this comment
#3) On July 25, 2009 at 1:42 PM, AdirondackFund (< 20) wrote:

Thanks again kdakota for posting this.  Keep up the drum beat.

Peter is analyzing this correctly again.  Fannie and Freddie's influence on Core Markets again is mentioned as an example of Government failure.  Other analysts, such as Prechter and Grant have been railing at this problem for decades, and were never taken seriously....until now.  Isn't this the cat out of the bag intelligence we find all too common in America.  Yet another case of too little, too late.  No one, especially in light of Prechter and Grant's persistent and unending warnings, can honesty claim that they didn't see it coming (cf. with Secy. Geithner's comment that 'no one saw this coming')....the truth being they chose NOT to see it coming....instead sought to profit from the sleepiness of the Party on Garth Party continued flying down the hill, toboggan loaded with goodies, and now, as is always the case with toboggans, we've hit a tree and several people have now died.  If this is Good Government, then I am simply missing all of the points. 

The final point to this comment...You cannot blame persons for getting this right.  It isn't their fault that any of this has occurred.   They were the ones who sent out the Clarion Call.  If no one chose to listen, well that would be typical.  Here's the rub.  If Government refuses to reform, the consequences here will be DIRE.  The incident at Harvard with Professor Gates reminds us that the U.S. Constitution is under attack by persons who refuse to read, that being our COPS.  Their refusal to reform is yet another proof that the ass kicking that is coming will be much greater than the one they are currently experiencing, simply because they refuse to listen to reason.  Let me repeat.  THE ASS KICKING WILL NOW BE GREATER, simply because Government has chosen to BREACH the Social Compact between Individuals and Generations, which has been the core to continuity throughout our History. 

Change, at a certain point is no longer optional.  We are now well past the point of return on this issue.  What the Police always seem to forget is that there are other people watching who will instantly decide to disinvest, we'll call them the "Enough is Enough Party', myself being just one example in a cascading effect which soon gains a life of it's own.  If you are looking for an example, pull the plug on the dirty water in your tub, and you will see the natural phenomena of concentric contraction at work, only in this case it is not possible to simply put the plug back into the tub to stop the flow and turn on the water to raise the water level. The FED is claiming to be trying this technique.  It won't work, it does not remove the dirty water from the tub, and is yet another example of what has caused our 'Egghead Depression'. The FED is simply not smart enough to find the solution to this very complicated Math Formula.  What is lost down the drain is rightly at risk of being GONE FOREVER.

Party on Garth!  



Report this comment
#4) On July 25, 2009 at 6:33 PM, VintageCat (< 20) wrote:

Party on Wayne!  


Good video.  Too bad so many people were asleep at the wheel...including the folks responsible for driving.

Report this comment
#5) On July 26, 2009 at 4:07 AM, awallejr (39.57) wrote:

So he admits his hypocrisy?  He told people dump US stocks but stay in emerging stocks, and then BOTH dropped.  So all those cheering his call on the US drop, ignore his ugly emerging market call?  He further tries to justify his emerging market call using long term hold and dividends arguments?  He and Cramer should be put in the same room.  I think my head would explode listening to those 2 arguing.

Until these "emerging" markets prove they don't need the US, what he is saying is baloney, namely it is still just gambling on those stocks.  And if anything you probably have ZERO transparency with China.  China made its fortune off the US, taking our manufacturing jobs simply because they pay their workers maybe 50 cents an hour, and then selling their crap back to us.  While their economy hasn't turned red yet in terms of GDP, that is largely because they are spending all those profits on things they need to, mainly infrastucture.  But if the US economy doesn't turn, you will see a further drop in those emerging markets, because the truth be told, they simply don't consume enough.  They simply don't earn enough.  The Chinese political system is not a capitalistic one.  It does not allow for classes (in theory anyway, tho there certainly are those that are more equal than others).

And the reality of the real estate market was the fact that we changed Glass-Steagall and the leverage rate.  Had we left those 2 things alone, things would have been fine.

Keep cheering this snakeoil salesman, maybe he can sell more of his tax evasion books.

Report this comment
#6) On July 26, 2009 at 4:27 AM, awallejr (39.57) wrote:

edit: "political" with "economic."

Report this comment

Featured Broker Partners