tag:blogger.com,1999:blog-1538110527131349279.post6975073965609425086..comments2023-10-23T12:52:45.453-07:00Comments on Patriot's Quill: Diogenes in the marketplcePatriot's Quillhttp://www.blogger.com/profile/00188140772869253532noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-1538110527131349279.post-82679150210070730182008-11-18T08:20:00.000-08:002008-11-18T08:20:00.000-08:00Ah Peter Schiff...he is a true wise and rational o...Ah Peter Schiff...he is a true wise and rational oracle when it comes to the economy, but he sure put on his partisan hackery hat when it came time to endorse for president, speaking in support of John McCain even after the ''fundamentals are sound'' quote. I was surprised to see vitriol about Obama ''the FDR socialist'' from a man who's been gripping about Fed and US Monetary policy since after 9/11?? To a fiscal conservative guy like Peter, Obama must be scary, but he can't have honestly believed spending in a McCain presidency would resemble anything other than Bush 2.0 x 2.0. So was he just ''servicing'' his ''tricks'' at Fox? <BR/><BR/>Then there is the matter of his gold worship. I started really following him 2 1/2 years ago when I moved back to Cali & wanting to buy a house. He, like other very smart people, were talking about a ''housing bubble' and much of what they said about America's credit dependency made sense to me (or anyone else with a nose on their face in Sept. 2006). So I got his newsletter and right away I noticed that much of the information was gold propaganda. If people were scared shitless out of the stock market then they would run to commodities, specifically gold. For a long time he seemed right. Then peoepl did get scared shitless - about the stock market and the new ''gold bubble.'' Schiff may yet be proven right, but he was pushing hard about buying bullion even when gold was already over $1000. Really? I tend to agree with economist Nouriel Roubini and think that deflation will prolong a painful US Recession but we aren't going to fall off the monetary cliff - particularly with large scale focused government intervention as we see it now. I am a doom & gloomer to be sure, but I don't know what you have to be to think gold - not stocks but bricks and coins in Switzerland - is the only secure protection during this global economic crisis. <BR/><BR/>Oh yea..a paultard...<BR/><BR/>jk!<BR/><BR/>But seriously, props that these guys had the rational detachment to predict this onslaught, but I hope that their disasterous outlooks don't yet have to determine the policy solutions.ProblemWithCaringhttps://www.blogger.com/profile/08095117977468663616noreply@blogger.com