God Damn. Couldn't watch all of that. All the economists who fucked up so bad should fucking be put on an island somewhere, prefereably not Manhatten. Jesus! Housing is going to go up 10% cause that's what it usually does? What kind of logic is that? (BTW, nice hair hippy.)

As Clay Davis on The Wire would say, 'That is some shameful shit!'

Yes, but!!!!!

When he made these statements, the market continued to go up another 25% or so before the bottom dropped out. From there, it is now down about 45%.

So, if you had taken his advice and taken your money out (or shorted the market), you would have had to go through several months of doubting yourself (and still remaining steadfast) before things started to show signs of turning in your favor ... and it would not have been until 8 weeks ago that you would have broke even. The only savings (or gain) you really would have seen would have been during the past 8 weeks.

The question now would be, are you ready to pull the trigger and take your profits?

What I am saying is that he was right on the what he predicted would happen, but very wrong on when. Predicting what is likely to happen isn't as difficult as predicting when. I knew there were going to be problems as well. But I was wrong several times (getting out of the market too early, getting back in too early) before the problems I thought would occur actually started. By then, I "lost" more money in potential gains than I probably will make hedging against losses. Timing is everything.

True Tim, I don't expect anyone to time the market exactly, but I think these guys were generally full of shit.

The mortgage crisis turned out to be pretty big. I mean some big financial companies have gone tits up because they bought such junky bonds. Personally, I don't think these Wall Street guys know what the fuck they are talking about. Ben Stein and the gang sounded pretty smug to me. In the hindsight of the Lehman bankruptcy, Shiff sounds more on the ball than the rest. I hope they actually did invest in Financials.

There really is only one word that can sum this up.

FACE!!!!1!

I dont care about the dispshits the MSM has on. I'll just assume they don't know anything. But damn, Lehman? They must have had smart people there. Somebody write the book on how these guys didn't know they bought a bunch of shitty bonds. Maybe they did. You get a bonus for giving people something to invest in, there's no money in telling people to get out while the getting's good...

I admit I don't really know finance and economics. These dipshits don't seem to know either but they love to get on tv and talk trash...

Fuck it. Let them all sink.

Whats the 'conservative' position here - Business should stand or fall on their own, let the market dictate?

Do it! Don't bail out anyone. Let them all go bankrupt. I'm curious to see how it works out.

Wow..that's pretty incredible stuff. I thought it was particularly insulting when the clowns at FoxNews were laughing while Peter Schiff was trying to speak. All I know is that I want this guy to be our financial consultant.

Yep Cindy, that was the best part. The worst part is the offenders will probably never admit they are wrong.

Pompus pricks.