Peter Schiff Predicted Financial Crisis Years Ago, Financial Talking Heads Literally Laughed In His Face

by Stanely Stuyvesant · December 11, 2008


Note: Sometimes we need to stray from NYC's hottest people, parties & nightlife to share something truly enlightening or apropos to the times...

Peter Schiff was right.  He called the economic crisis of 2008.  Congratulations, he probably is a very wealthy man right now.  But the most interesting part of this collection of video, however, is the aggressive and scornful posture most of the other talking heads have towards Schiff and his views.  At the time no one could have truly been sure who was right or wrong, but Schiff at the least conducted himself like a gentleman.

Take for example Arthur Laffer, supply-side "economics guru", Reganomics proponent, and inventor of the Laffer Curve which is present in every Economics 101 textbook.  He is the first talking head, and his sneer is so strong it literally jumps out at you as you watch him laugh and view Schiff with contempt.  All we have to say is that is Laffable.

But perhaps this is the best video relic from the crisis of Jim Cramer telling us everything with Bear Sterns is fine.  "Don't move your money from Bear, that's just being silly, don't be silly!"  LOL