Quote:
Originally Posted by firecracker
"12 Ways Schiff Was Wrong in 2008":
Schiff's Investment Thesis
* US Dollar Will Go To Zero (Hyperinflation).
* Decoupling (The rest of the world would be immune to a US slowdown.
* Buy foreign equities and commodities and hold them with no exit strategy.
12 Ways Schiff Was Wrong in 2008
* Wrong about hyperinflation
* Wrong about the dollar
* Wrong about commodities except for gold
* Wrong about foreign currencies except for the Yen
* Wrong about foreign equities
* Wrong in timing
* Wrong in risk management
* Wrong in buy and hold thesis
* Wrong on decoupling
* Wrong on China
* Wrong on US treasuries
* Wrong on interest rates, both foreign and domestic
That's a lot of things to be wrong about, especially given all the "Peter Schiff Was Right" videos floating around everywhere. The one thing he was right about was the collapse of US equities and no part of his investment strategy sought to make a gain from that prediction.
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At least he didn't lead everyone into the slaughterhouse. I'll agree with yo on the other countries being a safe haven. There really isn't a safe haven right now besides food and bills paid up for as long as you can afford. As far as those predictions most of them are still on the table. There's tension with China at this very moment. US Treasuries (not sure what his prediction was) were trading in the negative for a period of time which is strange considering the market was crashing. Gold should have also went up majorly during the market crashing but it went down as well only to now slowly creeping up. I could go on and on. The whole point is that everything that would have been a complete norm wasn't happening if you look at the market numbers. What was happening is people were making their moves to the save havens and they were immediately getting cut down by the "working group." Simply put the markets didn't crash the wealth just got transferred to someone else. Considering that the "working group" is also the same group who are being bailed out and the same one's who lead everyone to the slaughter house then you don't have to look very far.