You could hardly have a better illustration of the problems with the economy in this compilation of Peter Shiff trying to convince people of how bad the US situation is. He analyses almost completely correctly what was to come in 2008 and gets laughed at, told he must be “very far left” and believe in Santa Claus. ALL the analysts and “moderators” are viewing everything with rose tinted glasses, ignoring Shiff’s analysis and disregarding the facts he brings. It would be funny if the situation wasn’t so dire.
[Update 2008-11-24] Since when do financial shows look and behave like sports shows?? No wonder people don’t give investements the proper seriousness. Funny how they admit Schiff was right but keep arguing with him like he’s mad.