Peter Schiff is an Idiot
I think Peter Schiff is an idiot, but not because of his economic views. He is way more qualified to an advanced opinion of our current economic woes than I am. However, he is doing more harm than good with his constant negativity and crankiness. People need optimism to move forward and get things done. Going out on countless radio shows and trumpeting your prediction of the economic meltdown and constantly saying the worst is yet to come is simply irresponsible. Yes, he has been pretty accurate with a lot of what he says, but that doesn’t give him the green light to fear monger.
Peter Schiff’s Agenda
Watch some of his videos on youtube. The guy never has anything positive to stay! All he wants to do is scare people into buying into his firm, buying his books, and making commissions. If John McCain won the election, then he’d be barking up his tree too. If he was really interested in helping people out, he’d be proactive and positive, not scaring people to death.
Treat what he says with a grain of salt. He is no doubt a highly intelligent man and has some very interesting things to say about the current state of the world economy. However, his negativity does more damage than his economic advice can help. He’s riding high in the middle of his fifteen minutes. Ron Paul liked him, so the Digg community likes him. He made a spot on prediction of the housing collapse, so he’s got more attention there too. He’s a perfect guest for cable news shows since he’s so doom and gloom, so he’s got even more attention. Peter, use this new found opportunity to say something positive.
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November 20th, 2008 at 8:30 pm
Well I think you’re an idiot for holding over-inflated crap assets and being a
pollyanna tool. So there.
-rufus
November 21st, 2008 at 4:57 pm
Thanks?…
I don’t know if you read the first sentence of not, but I don’t think Peter Schiff is an idiot for his economic views. He’s brilliant. I think he’s an idiot for being so doom and gloom when so much of our economic woes are psychological and things like poor consumer confidence help exasperate the downward turn.
What he needs to do is change his tone. The facts speak for themselves. You are absolutely correct that people holding “over-inflated crap assets” are the ones with questionable intelligence. More often than not, however, those people don’t know any better. They’re the same type that are susceptible to the kind of fear mongering that Peter Schiff exemplifies.
All I’m calling for is constructive criticism.
November 21st, 2008 at 6:28 pm
While your right that PART of economic problems can be psychological, the key facts he talks about have nothing to do with psychology. While I agree that he uses this doom and gloom to promote his firm, he has been right on his predictions to this point, and if you listened to his overly optimistic opponents, you would have lost a mountain amount of cash.
Therefore, your an idiot for wanting him to lie to make the economy sound cheery when it really isn’t, and isn’t going to get better any time soon.
November 21st, 2008 at 10:16 pm
Actually Peter Schiff has been COMPLETELY wrong about the outcome of the financial crisis and the financial advise in his two doomsday books are complete failures and he himself admitted on Bloomberg TV in October 2008.
His advice for people to buy gold was completely wrong, as gold has gone down along all commodities in our deflationary recession.
Peter Schiff is an idiot, as he has no basic grasp of economics, he is still
screaming about how “government intervention” is going to cause “massive inflation” while the economy is DEFLATING.
Inflation is years away… we are in a DEFLATIONARY recession, which is something he is too stupid to understand.
November 21st, 2008 at 10:21 pm
Peter Schiff IS an IDIOT, his economic views are basically a rip off from Nouriel Roubini who is actually a QUALIFIED economist.
Proof of Schiff’s stupidity are his polarized views and TV appearances where he was claiming that the current worldwide economic recession happened because of government intervention, which is hilarious, as anyone with half a brain knows, it was the LACK of government regulation what caused financial institutions to overleverage themselves with derivatives and CDOs and mortgage companies to create the housing bubble.
Peter Schiff is a MORON.
November 24th, 2008 at 11:28 pm
Peter Schiff is an idiot simply because his investment advice has been much worse than anybody’s out there. How do you “crash proof” your portfolio?
Go long emerging markets, long commodities, short the dollar, long gold. All these calls have been 100% wrong this year. Much worse tan if you’d have just bought a U.S. index fund. No wonder Europacific clients are leaving the firm in droves and the its credit lines are being cut. The best thing about Europacific? Their crack team of opinion Nazis who troll the Internet to flame anyone who doesn’t preach that Schiff is “right” or a “prophet.” They’re also very good at posting edited versions of his pronouncements on You Tube. Just watch how long it takes for the opinions Nazis to flame this post. Too bad that won’t to much for Europacific clients who have probably lost total of AT LEAST $700 million entrusting their money to Schiff in the last six months.
December 23rd, 2008 at 12:06 am
Peter Schiff is 100% correct on everything he says. Awe, you don’t like that he is to gloom and doom. He speaks to reality, so get over it and accept it. Sure gold and silver may go down some, but he’s not telling people to invest in it for short term, he’s thinking long term. Our fake economy cannot sustain, and the fed printing money to oblivion will not help it at all. But all of you keep your opinions, that just means more gold and silver for us smart folks. ha
December 23rd, 2008 at 3:35 pm
Schiff is a nut. I listened to him when he interviewed for a Seattle radio show entitled “Sound Investing”. When questioned about his investment style he literally and rudely talked over all his interviewers. Since the radio show had limited time for the interview they finally had to cut him off in mid sentence and go to a commercial. When challenged, This man’s behavior leads me to believe that has a mental paranoid tendancy and that he has hidden personal financial adendas that we don’t know about yet. I don’t trust this man. He raises too many red flags when you really look deeper into behavior.
December 28th, 2008 at 9:38 am
be realistic - the american empire has fallen - yiur 300 kilo consumer is going to go on a slim fast dite now - lol
January 1st, 2009 at 5:43 am
Peter Schiff is not an idiot; he is a sharp stick jabbing at the soft underbelly of the American financial environment. Take his advice with a grain of salt, but unfortunately, he is NOT all wrong.