Peter Schiff Was Wrong About the US Stock Market

[talkingpointes]

The market wants what it wants. It's not subject to any religion or creed. The market wants to go higher and it will.

I consider myself a libertarian. However, I am no subscriber to this campfire lore known as "The Austrian School of Economics"

Austrian Economics tells us [money printing=inflation]. 20 trillion+ (on record) spent, lent and guaranteed since 2007-2008 yet no scary inflation. Where is it?

If you want to make money, you can't find the trend. Stocks are in a screaming bull market! Schiff, his thesis and his precious gold are in a vicious bear market that will slaughter many.

If I am wrong, I will come back and apologize. Promise

Campfire lore -huh. (trolling) Or would you like to debate the specifics.

What branch do you subscribe - monetarism, Keynesian, georgism?

 

[AmericasLastHope]

The market wants what it wants. It's not subject to any religion or creed. The market wants to go higher and it will.

I consider myself a libertarian. However, I am no subscriber to this campfire lore known as "The Austrian School of Economics"

Austrian Economics tells us [money printing=inflation]. 20 trillion+ (on record) spent, lent and guaranteed since 2007-2008 yet no scary inflation. Where is it?

If you want to make money, you can't find the trend. Stocks are in a screaming bull market! Schiff, his thesis and his precious gold are in a vicious bear market that will slaughter many.

If I am wrong, I will come back and apologize. Promise

How many trillion did Zimbabwe print before it cost a trillion for a loaf of bread? Just because the U.S. dollar is the world reserve currency doesn't mean we are immune to the laws of economics.

 

[oyarde]

Campfire lore -huh. (trolling) Or would you like to debate the specifics.

What branch do you subscribe - monetarism, Keynesian, georgism?

Georgists , Lord no , I have been a better soul than to ever have to hear that shit again ......

 

[oyarde]

How many trillion did Zimbabwe print before it cost a trillion for a loaf of bread? Just because the U.S. dollar is the world reserve currency doesn't mean we are immune to the laws of economics.

I would actually prefer my days in Rhodesia.....

 

[talkingpointes]

Georgists , Lord no , I have been a better soul than to ever have to hear that shit again ......

Maybe it's xeno?

 

[psi2941]

How many trillion did Zimbabwe print before it cost a trillion for a loaf of bread? Just because the U.S. dollar is the world reserve currency doesn't mean we are immune to the laws of economics.

lies! the US is immune to everything. Gravity does not apply here.

 

[Dforkus]

If anyone feels they aren't wrong about enough things in their life, start making predictions about the equities and commodities markets..

Peter Schiff is not immune to this reality, nor is anyone else.

There is no point in trying to equivocate about it, his calls, post early 2009 have been spectacularly wrong.

 

[Zippyjuan]

Peter Schiff has always been calling for a crash. So sure- he does get it right once in a while. We do tend to get one about every four to seven years.

Selling at the top and buying at the bottom sounds good but you don't know where tops and bottoms are until they are passed. Then it is too late. How many were selling gold when it hit $1900 an ounce (it's going to $3000 or $5000- buy more!)? How many bought stocks in March 2008 when they hit bottom (it is going to 10,000 or lower- don't get in now!) ? I actually did the latter- made my annual IRA contribution ($5000 allowed by law) the VERY WEEK it hit bottom. Did I know that was the bottom? Heck no. Nobody did. I got lucky.

 

[Madison320]

How many trillion did Zimbabwe print before it cost a trillion for a loaf of bread? Just because the U.S. dollar is the world reserve currency doesn't mean we are immune to the laws of economics.

I've about given up arguing with people. They'll never believe the dollar can crash, until it crashes. I'm just wondering what their explanation will be when it crashes.

 

[Warlord]

Can't wait until this scheme comes to a crashing halt so these Wall Street gamblers and their blind, sycophantic apologists are humbled for good.

And all the haters will be silenced again just like they were after the collapse in 2008.

 

[matt0611]

Peter says all the time that he predicts the US stock market to go UP.

He just said it on his show last week that he expects it to go higher as long the fed keeps printing.

He's been saying in nominal terms the US stocks will go up, and he's been saying that for years.

The OP is fail.

 

[newbitech]

How is 11 f***ing years a snapshot?

I said basically. I elaborated in further in my post. Here's a hint, in 11 years how many chances do you have to sell at the peak? Say cheese!

 

[newbitech]

yet no scary inflation. Where is it?

Austrian Economics tells us [money printing=inflation]. 20 trillion+ (on record) spent, lent and guaranteed since 2007-2008

Jeopardy!

 

[muh_roads]

Thought about it but the penalties pretty much cut the net gain to about half. Then again, half of something is better than nothing at all right?

Have you ever wanted to start a business? Anything you are good at? You can deduct your expenses.

 

[oyarde]

Peter Schiff has always been calling for a crash. So sure- he does get it right once in a while. We do tend to get one about every four to seven years.

Selling at the top and buying at the bottom sounds good but you don't know where tops and bottoms are until they are passed. Then it is too late. How many were selling gold when it hit $1900 an ounce (it's going to $3000 or $5000- buy more!)? How many bought stocks in March 2008 when they hit bottom (it is going to 10,000 or lower- don't get in now!) ? I actually did the latter- made my annual IRA contribution ($5000 allowed by law) the VERY WEEK it hit bottom. Did I know that was the bottom? Heck no. Nobody did. I got lucky.

Yeah , I picked up a few things at the bottom , got lucky.

 

[jclay2]

Off topic, but here is what I find strange about the 08 crash. In any natural market, there will be ups and downs. If you measure the drop in 08 from the 10% correction point of May 08, we only had a sustained drop in stocks for a little over 10 months. Why is this interesting? Because we suffered through the worst financial crisis since the great depression and all that happened in the S&P 500 was a 10 month decline? It seems like a joke. Sure they through as much gas on the fire to get things humming again as possible, but even so, the negative consequences of that action should be felt sometime? Who knows maybe...gasp... jgp 10 year rates at 2% will be the next crisis.

 

[Madison320]

I've been assuming the next crash will be in the dollar, but lately I've been wondering if we'll get one more stock market crash followed by stimulus before the dollar crashes.

 

[toathis]

Peter says all the time that he predicts the US stock market to go UP.

He just said it on his show last week that he expects it to go higher as long the fed keeps printing.

He's been saying in nominal terms the US stocks will go up, and he's been saying that for years.

The OP is fail.

So missing 8,000 points on the DOW then saying stocks will go higher makes him right? If you think I am wrong prove it. Find one interview or youtube of him from 2008-2012 saying stocks are going higher.

 

[pathtofreedom]

Why does anyone listen to Peter Schiff. He predicted a few bubbles and crashes but so did other economists such as Lyndon Larouche and Webster Tarpl. Anyone can predict a crash or bubble. Crashes and bubbles are engineered. The government owns 70% of stock in publicly traded companies so the game is rigged. Peter Schiff has been predicting for years the collapse of the dollar but it hasn't happened and isn't going to happen.

 

[oyarde]

Why does anyone listen to Peter Schiff. He predicted a few bubbles and crashes but so did other economists such as Lyndon Larouche and Webster Tarpl. Anyone can predict a crash or bubble. Crashes and bubbles are engineered. The government owns 70% of stock in publicly traded companies so the game is rigged. Peter Schiff has been predicting for years the collapse of the dollar but it hasn't happened and isn't going to happen.

Why would it not happen ? what could prevent it ?