Peter Schiff - Rockstar of the Housing Bubble
Chuck Ponzi October 28th, 2007
I have to admit, one of my guilty pleasures is both listening to Peter Schiff and following his advice. His theories have given my portfolio a great push forward. This is a great example of taking on the domestic bull in relationship to our declining dollar. There will be a time to buy USD again, but that time is not now.
I believe a lot of that timing will come from Bernanke’s will to crush the housing bubble. If he doesn’t, it’ll be a long time before we can get well again. We need to take the tough medicine.
Chuck,
Here’s a nice compilation of Ron Paul that many of your readers may enjoy: http://www.youtube.com/watch?v=IWfIhFhelm8
Unfortunately, few people support a small government and fewer people will end up voting for someone like Paul. Paul’s only chance may be to side with the religious fanatics in the red states, but it is doubtful they’ll back him. History shows Americans generally do not side with presidential candidates speaking touting common sense.
Hey Chuck,
Just thinking about this. There will probably be a race condition where inflation of commodities eats more of the plankton’s resources.
Meanwhile the value of housing is falling.
So the affordability might just get much worse.
Stagflation with deflation of housing. Another interesting consequence of the Feds mangling of money policy
Good for Peter. I saw the clip where he was on a panel with Fox News. 5 against 1. Ironically it was the day of the cut and they were touting future prosperity. The next day the market tanked of course. Fair and balanced? Yeah right.
Hey Chuck, is it possible to update our link on your blogroll to the new site at http://www.doctorhousingbubble.com ? Tried finding your e-mail but couldn’t.
Thanks,
Dr. Housing Bubble
Well with the working class portion of America falling farther and farther behind it’s not wonder many of these people are loosing homes or having a hard time paying their mortgage. I moved several years ago after my I purchased some Laguna Niguel real estate and I’m glad I made the move when I did. I’ve watched this market go further and further down into the void wondering how it’s ever going to recover. Right now it’s a terrific time is you’re a buyer as you’ll find a ton of awesome deals but if you’re trying to sell a home….good luck. How will this be fixed? I do not know.
I think I missed your point. I hope you did not mean to say Bernanke will be doing anything to crush the housing bubble. To the contrary, that worthless money printer is doing everything he can to support these rediculous house prices in an attempt to save the banking system. He has thrown the u.s. dollar out the window. They will do whatever they have to keep the banks solvent. The only thing you have going for this collapse is the fact that it is an election year. Meaning neither party will do anything for fear the other will get the credit.
I think Larry is a liar. He has millions of poeples money in the market that he’s trying not to lose. There will be a crash and it will get worse.
Whoever watches and disagrees with Peter, you better take a long hard look again and again and again at what he just said. This market is overinflated and has been for over 10 years. If we don’t stop our spending, our dollar will be starter wood for our overpriced fireplaces.