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Debate House Prices


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Another house price crash seer who was ridiculed in 2006

drc
drc Posts: 2,057 Forumite
in Debate House Prices & the Economy
Interesting clip from Youtube of Peter Schiff, who predicted the financial meltdown in 2006 whilst other interviewees laughed and mocked him. It's frightening how wrong they all were and how smug they were in their certainties.

http://uk.youtube.com/watch?v=2I0QN-FYkpw
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Comments

  • luvpump
    luvpump Posts: 1,621 Forumite
    Part of the Furniture Combo Breaker
    i have posted numerous peter schiff posts, he speaks common sence ... a great man ...
  • chrisandanne
    chrisandanne Posts: 434 Forumite
    Thanks drc, I found that really interesting. The so called experts look so silly now. Peter Schiff was spot on, he's a brave man to hold his ground like that when everyone was laughing at him for his views. Ax
    Don't believe everything you think.

    Blessed are the cracked...for they are the ones who let in the light. A x
  • Cat695
    Cat695 Posts: 3,647 Forumite
    Man if i was that guy (Peter) I would be ringing all those people that laughed at me.......
    If you find yourself in a fair fight, then you have failed to plan properly


    I've only ever been wrong once! and that was when I thought I was wrong but I was right
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    I know how he feels when you have a view and they all gang up on you :D
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Cannon_Fodder
    Cannon_Fodder Posts: 3,980 Forumite
    StevieJ wrote: »
    I know how he feels when you have a view and they all gang up on you :D



    Except he was right...

    :D


    about house prices, I hasten to make clear.
    Hi, we've noticed that you don't have a signature to remove. If you're not sure why please read the forum rules or email the forum team if you are feeling left out.
  • Zelie
    Zelie Posts: 773 Forumite
    I wonder if Arthur Laffer ever paid up on that bet. :D
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    StevieJ wrote: »
    I know how he feels when you have a view and they all gang up on you :D

    I used to be in a minority of about 3 on here - houses were overpriced all over the world and their reduction would causes problems to the real economy and banking system.

    It's funny how my views have become mainstream over time.

    My views are a minority view in Aus still. Not for long looking at what is happening at auction over here. Auction is a common way to sell a house here. You have an open day and then a little later you have an auction outside the front of the house.
  • sabretoothtigger
    sabretoothtigger Posts: 10,036 Forumite
    Part of the Furniture 10,000 Posts Photogenic Combo Breaker
    http://uk.youtube.com/watch?v=z3WjgKUf-kA



    Schiff says this will last for years and obama will wreck things like carter did. Hyperinflation and gold to rise because of it.
    I see what he is saying but I hope he is proven wrong somehow
  • moanymoany
    moanymoany Posts: 2,877 Forumite
    Or am I just unable to see it? :confused:
  • sabretoothtigger
    sabretoothtigger Posts: 10,036 Forumite
    Part of the Furniture 10,000 Posts Photogenic Combo Breaker
    Peter says the USA will suffer 5 million unemployed, 3 million more then this years loss. Government is digging a hole, should be raising interest rates (like iceland, etc)

    http://in.youtube.com/watch?v=-w0hi7m3gBQ
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