Peter Schiff was wrong about one thing.

You are right. The world is coming to an end. Life sucks and just gets worse. Why should anybody be happy?

Some say Schiff predicted the Great Recession. He is always predicting the next Great Recession- he got "lucky" once. He eventually was right once- now some think he is practically some economic "god".
 
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Where I live currently, we still have 1 in 16 homes in Foreclosure. I wouldnt exactly call that a recovery. MSM will always spin everything to their favor and talk about how great it is to see the price of houses going up again, which is spun to the economy has totally recovered. All they are doing is putting lipstick on a chicken. Its still a fucking chicken regardless of how much makeup you put on it.

Has anyone ever asked themselves how we could be "showing signs of recovery" for six years straight while things do not improve one damn bit for Main Street?
 
Your area may be an oddity.
http://www.consumeraffairs.com/news/completed-foreclosures-down-sharply-in-july-090214.html

July represents 18 consecutive months of at least a 20% year-over-year decline in the national inventory of foreclosed homes.

All but 2 states posted double-digit declines in foreclosures year over year. The District of Columbia saw a 6.3% decline and the state of Wyoming saw a 14.6% increase in foreclosures year over year.

Thirty-one states show declines in year-over-year foreclosure inventory of greater than 30%, with Arizona and Utah experiencing declines at 49% each.
Click to expand...

The 5 states with the highest foreclosure inventory as a percentage of all mortgaged homes were: New Jersey (5.7%), Florida (4.8%), New York (4.3%), Hawaii (3.0%) and Maine (2.7%).

The 5 states with the lowest foreclosure inventory as a percentage of all mortgaged homes were: Nebraska (0.4%), Alaska (0.4%), Arizona (0.5%), Minnesota (0.5%) and North Dakota (0.5%).
Click to expand...

More at link.

What area are you in? (one in sixteen would be over six percent which is higher than the worst state average)
 
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All I hear is "Crash is coming!" "Crash is imminent!" Bubble! Bubble! Next one will be the crash of crashes!!!!

Every year the prophets say it and every year nothing happens.

When will this catasrophe happen, now?
 
Soon! They promise! Buy their products and learn how to protect yourself from the coming crisis! You too can profit from the situation! (it has worked well for Schiff- he certainly profits from it- even if the products he sells don't perform well).
 
Zippyjuan said:
You are right. The world is coming to an end. Life sucks and just gets worse. Why should anybody be happy?
Click to expand...


No, you're right. American glory is right around the corner. Technology is great and it just keeps getting better. Why should anybody be realistic?



Some say Schiff predicted the Great Recession. He is always predicting the next Great Recession- he got "lucky" once. He eventually was right once- now some think he is practically some economic "god".
Click to expand...

People on TV say all kinds of things. They're practically gods just because they're on TV.
 
People on TV say all kinds of things. They're practically gods just because they're on TV.
Click to expand...

That's Peter!

Life is always good and bad. Even the "good old days" really weren't that great. But I think focusing only on the bad is too depressing so I do try to counterbalance it with some of the "good news".
 
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Zippyjuan said:
Soon! They promise! Buy their products ...
Click to expand...

Sounds like what politicians and other peddlers say about America coming back.

Anyway, there will be no crash. America will continue is descent that it has been experiencing for decades. Asia will continue its ascent.
 
Zippyjuan said:
That's Peter!

Life is always good and bad. Even the "good old days" really weren't that great. But I think focusing only on the bad is too depressing so I do try to counterbalance it with some of the "good news".
Click to expand...


So you watch/know about this Peter fellow. You are also espousing the modern day life philosophy of balance. Maybe you should turn off the TV and get an original thought.
 
Zippyjuan said:
What is your latest original thought if you don't mind?
Click to expand...


So you won't answer my question regarding why you're on this forum, but I'm supposed to answer your questions?

Geez dude, I've already given you plenty of hints for better trolling. I should be doing your job. LOL.
 
I just thought that since you said I didn't have any original thoughts that you may have some to share. I guess not. But thanks anyways.

Is life in a balance a bad thing? Is focusing only on good or bad a good thing?
 
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He's been wrong about a lot actually. According to his predictions, gold should be well north of 2,000 by now.

He's right in his ideas, but he misses a lot of the mechanics involved with what is actually going on. As he says, he knows there's a tidal wave coming that will inevitably hit one way or another, but he doesn't know anything about all of the rises and falls that will occur before it hits.

In my own opinion the collapse he talks about is very real, but I think it will be more of a general malaise that will creep up upon us over time, so slowly none of us will feel the shock.

And his understanding of the gold market is really wrong. I don't know why or how, because I'm no expert, but it's very clear he doesn't understand the moves. Which is very strange considering how he has tied the fate of his company to Gold.
 
KingNothing said:
That isn't true at all. The economy is not that simple. Where those dollars go, both in terms of economic sector and area of the globe, as well as the speed with which those dollars move, play a far more important role than the amount of increase or decrease in monetary base.
Click to expand...

I think that's a bunch of BS to defend the printing of money. Printing money is the only factor the Fed can control. The other factors you mentioned can't be controlled by the Fed. So that means that in almost every instance of high inflation, money printing had nothing to do with it. It was just fate or animal spirits.
 
cubical said:
Has it ever been wrong?
Click to expand...

If you consider unnecessarily long, sometimes pointless abominations against good writing to be wrong then yes, constantly.

If you want to limit this to just factually wrong, then although nothing it has ever predicted has come true, it never gives specifics or a timeframe, so you could say it is 'not wrong' but also 'not right' so long as you decide that when the author says "soon" or "very soon" it means 'more than 6 years from now.'
 
TheCount said:
If you consider unnecessarily long, sometimes pointless abominations against good writing to be wrong then yes, constantly.

If you want to limit this to just factually wrong, then although nothing it has ever predicted has come true, it never gives specifics or a timeframe, so you could say it is 'not wrong' but also 'not right' so long as you decide that when the author says "soon" or "very soon" it means 'more than 6 years from now.'
Click to expand...

So it's about ideas then, yes? Why not address them rather than being disingenuous in saying he never gets anything right, when in fact he never makes any specific "right or wrong" claims.
 
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