The Greatest Depression has arrived!!!!!
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2011 Aug 13, 3:36pm 15,727 views 97 comments
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That's right, rich people.
Sorry, I believe the proper term is Job Creators.
Anybody who's 100% certain of anything going forward is just trying to sell you something.
Sing it, Brother Bob. Quoting Peter Schiff as any sort of authority is misguided. These kinds of people talk their book.
grywlfbg says
Deflationary depression here we come.
It is pure common sense, how can we go the other way with such a massive load of debt. I just don't get it.
I agree. I think it's much more likely to be deflation or only moderate inflation. The hyperinflation argument seems far less likely -- what is the real mechanism? Currently we are still working off credit, i.e. deflation due to the burst of the credit bubble. If the government is throwing cash into the mix, like Japan, it is largely offsetting the credit. The inflation already happened during the bubble when credit increased significantly.
Â¥
2011 Aug 19, 8:10am
btw, I really like Schiff. He was right when it mattered, in 2007-2008.
I'd like to think the CNBC clowns knew he was right, but had to toe the party line regardless. The mere act of giving Schiff airtime was all Fox/CNBC had to do to inform the clueful.
btw, I really like Schiff. He was right when it mattered, in 2007-2008.
Anyone can be right for short periods of time. All it takes is staking out a position that is plausible.
Just talk to John Paulson:
http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/08/10/bloomberg1376-LPOFMK1A74E901-4Q2JPC453VOJE0PMSOCLM0O906.DTL
Or if the Chron is too socialist for you, the WSJ:
http://blogs.wsj.com/deals/2011/08/19/guess-whos-getting-crushed-by-hewlett-packard-john-paulson/
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For those that believe that the economy is recovering or even moving sideways, you will be extremely disappointed. The economy has begun its next leg down. This is obviously not good for the housing market. Rates will end up in double-digits in the coming years.
I'm sure many people did not see the S&P downgrade coming. It is inevitable that the US gov't will default within a few years (or much sooner). We will have more downgrades just like Greece in the coming years if not months! The housing market is doomed to fail.
http://www.youtube.com/watch?v=rOmHHUSiWAA&feature=channel_video_title
#housing