This Guy Predicted The Financial Crisis And Was Derided For It (VIDEO)

Atlantic:

Watch the contempt from Fox News for Peter Schiff over the past two years:

I feel his pain. His economic sense and foresight escaped me. But politically, some of us diagnosed the conservative implosion years ago - and earned the same kind of contempt from the same kind of baying hounds for getting it right.

Read the whole story: Atlantic

Comments

[tedmore123]

Fox Noise is the mouthpiece of not only the GOP, but the institutions that got us into the current economic mess. It is no surprise they would trash Peter; he makes sense and Fox is pushing the
'economy is in great shape' lie like they push all the other lies they are paid to tell. They really need to take the 'News' out of their title; it becomes confusing when they lie and insist it is news.

[twohearts]

Why anyone would check FOX for financial news is a mystery to me. Schiff is a very smart man and the others were making profits off of nothing basically- derivatives and merges - so why should they care? (joke).
I actually sold 90% of my financial stocks a year and a half ago. But I never imagined it getting THIS bad. I was too cautious to change & lost a lot. Laffer & Stein & most of those guys are just salesmen for the latest thing....
One thing that has really messed up our economy is the lack of fairness & arrogance. People believe they can just take over a smaller company and make it better. Doesn't work - they just want profits, not the research & skilled production already there. Uh-oh - now we have layoffs of those exact people who knew what they were doing in the first place! Great way to get the real world of business smacked to the ground.

[PT6]

Peter Schiff has a very insecure and also somewhat offensive way of presenting himself and his ideas!

It is too bad because he was absolutely RIGHT, and slightly off on GOLD price now at $742.

Too BAD we listened to Ben Stein and Arthur B. Laffer who scoffed at Schiff's scenario!

[Pdubya]

view the vids i posted below to find out more on gold/silver. both are going to skyrocket when hyperinflation kicks in. and kick in it will. commodities are a long-long investment and short trading on them is only for the risk savvy....

[killpack]

Maybe Congress should keep bailing out crappy businesses, then I could buy commodities now and make BANK! You see, this is EXACTLY why you don't bail out ANYONE. The very people you are trying to punish, i.e. the greedy (like me), ALWAYS find a way.

[killpack]

Let's also not forget all of the Congressmen who were CRUCIFIED when they opposed the bailout that's now working out so well. "They were more worried about votes in the election than 'saving' the country."

[Pdubya]

they ignored their constituents because they are invested in the ponzi scheme and are first at the trough for the bailout. thats why. it is the false left/right paradigm that the red/blue votership must surpass to realize that constitution loving progressives and true conservatives have more in common with american interests that will save us. we need more kapturs, mccotters, pauls and kucinichs. its the global elitist centrist/statists that voted on the bailout. (and patriot act, fisa, etc)

[killpack]

25 Senators! That's it! Out of 100! That's all who voted NAY on the bailout! Total SCAM! The Senate ought to be TOTALLY ashamed! And they wonder why their ratings are so low.

[cuomofied]

It doesn't help that they were threatened with Marshall Law....

[Pdubya]

they were threatened? no, we were threatened with martial law and they were told about it. and the spineless chumps kowtowed.

when will the statesman rise?

i can think of a few freedom fighters who will.

[Pdubya]

essentially, we are under martial law. congress is neutered. the bank is running the show. northcom is on our shores. police brutality is up, pending depression. fema camps on the rise. civilian security force on the horizon. generated crisis in january. collapse of the dollar. it will be ugly. let us not turn our neighbors in when hard times come.

[Dana Hunter]

I feel the threat of Marshall Law is a daily deal......

[sloreader]

The rats don't really care if the ceiling is collapsing so long as they get their chunk of cheese and disappear into the woodwork.

[Pdubya]

If you enjoy Peter Schiff and respect his views, please view the following:

http://www.youtube.com/watch?v=TP_aJ7LcAAA

http://www.youtube.com/watch?v=coaI3d89kuA

[olephart]

There is no doubt that if Jesus appeared on Fox as a spokesman against money lenders and War he’d be crucified.

[Chaucea]

Yep. Reminds me of the lyrics to the "The The" song titled, "Armageddon Days (Are Here Again)"

http://music.yahoo.com/The-The/Armageddon-Days-Are-Here-Again/lyrics/848178

[Pdubya]

Peter Schiff was Ron Paul's economic advisor. That sold me. When I researched Peter, his father, and Peter's company....Europac....I moved our retirement fund to his firm.

Read his book CrashProof if you want to survive the pending depression.

[Chaucea]

Oh my! Bless his heart!

I really hope Peter Schiff gets an opportunity to come into the forefront again in the media very very soon, and this time be truly respected for his foresight and insight!!

[nivek]

Brilliantly done!

[NoniMausa]

I have read this whole comment stream, and no-one has speculated on FOX being liable in a class-action suit. Not for hiring a "fair and balanced" assortment of sensible versus idiotic experts -- I suppose that could be portrayed as a matter of taste.

But the hosts snickering and disagreeing and ridiculing Schiff, clearly supporting the idea of "Full steam ahead, hey! nice waterfall!" that ought to be actionable. I don't know if they bill their panels as "news" or "entertainment", but viewers are going to guess that people in suits talking about the economy, aren't the same as Mungo and His Amazing Acrobatic Armadillos.

Noni

[Pdubya]

actually neil cavuto (of all people) now give ron paul and peter schiff their due respect.

bloomberg news, asia times, al jazera and russia times all give peter good attention...along with jim rogers, marc faber and max kaiser....all top on my list for resources.

[chris2fer]

Fox just can't bring their self to say that deregulation and Bush brought this country to it's knees.

[killpack]

I wouldn't say it either, nor do I think Peter Schiff would. This has less to do with Bush and deregulation than it does with ALL of us being irresponsible and trying to make a quick buck.

[cuomofied]

Um, deregulation isn't the problem. In fact, this bailout is an attempt at regulating the market, by propping up failed businesses and price fixing. The problem with regulation is that it keeps the small guys out of business. Regulation simply means people who donate large sums of money can do illegal things until they stop donating or it becomes politically convenient to blow the whistle on them...

[vedder110]

After nearly eight years in office, President Bush is on track to be one of the biggest regulatory budget spending presidents in history, according to a new study from the Mercatus Center at George Mason University and the Weidenbaum Center at Washington University in St. Louis.

Regulatory Agency Spending Reaches New Height: An Analysis of the U.S. Budget for Fiscal Years 2008 and 2009 shows that, contrary to conventional wisdom, President Bush is not alone among Republican presidents. The report also describes how eight of the ten largest increases in regulatory spending have occurred under the leadership of Republican presidents. All but one of Richard Nixon's annual budgets make the top ten increases in the last 50 years, and Gerald Ford's 1976 budget also makes the list. In addition, Nixon's first term holds the record for the biggest increase ever at almost 82 percent. Ronald Reagan was the only president to reduce total regulation spending, bringing expenditures down by one percent during his first term.

President Bush topped the list with a 24.3 percent increase in 2003 according to the annual report. His 2002 regulatory budget also made the top five, growing 16.4 percent. By comparison, the average growth rate over the last 60 years has been only six percent.

http://www.reuters.com/article/pressRelease/idUS192062+12-Aug-2008+PRN20080812

[northstar11]

FIRE PAULSON ---HIRE SCHIFFER

schiffer has got what it takes to be obamas chief financial advisor.

[Pdubya]

schiff....not schiffer. schiff was ron paul's economic advisor.

obama isn't interested in schiff's views....peter's include sound money, our constitution, ending the fed and true austrian free markets.

obama voted for the bailout and will sell us the new world order.

[killpack]

But, Obama was tricked by Hank Paulson...and there was supposed to be oversight...and, JUST KIDDING! But seriously, some people believe that.

[Dana Hunter]

Right On you are northstar11......

[firewmn]

Schiffer....IS...and WAS.... right...!!

Laffer is a frikk'n JOKE...!!...

There needs to be a position in Barack's administration for a smart guy like this.. Replace.. Greenspan with Schiffer... now...!!

**

[wideawakenow]

Schiff was looking at the big picture economy and the rest of them were not. So much for the other "experts"

[Dana Hunter]

Great viewing Peter Schiff ! I think the world as we knew it is never going to be the same. I do feel
the Stock Market will crash, there will be no credit or credit cards, millions will be homeless. The
only way we can survive is to be a cash only society. Sadly it will usher in the one world money
system and the one world government....hang on for the ride !!

[Nooneyouknow]

Wow, that's some epic viewing. People here are right, Schiff should be in government working on turning these crises around, if only for his honesty in warning about what other Wall St. "pros" may have seen coming but refused to acknowledge.
Meanwhile, Ben Stein, "The Smartest Man Ever in the World Ever," was completely not smart. Fox's stock bozo recommending WaMu as a great buy. Those two real estate mooks mocking Schiff openly. Another stellar example of the MSM's failure to be anything but corporate shills.