Southern California Real Estate Bubble Crash Blog

5 Responses to “Yet Another Reason Boom-Bust Cycles Are Bad”

1. Captain EO says:

   April 28, 2010 at 11:50 pm

   Great clip. Schiff does have a way of making it so easy to understand.

   Comparing it to the Maria Bartiromo clip; I think they are both right. Obviously, it is bad policy for the government to induce a bubble. But I also think bubbles are inevitable as humans are always going to chase wealth for a better life.

   The key is to let the busts happen and allow everything to re-balance itself.
2. jrs says:

   May 1, 2010 at 11:02 pm

   Ah yes, but the problem is crash proof wouldn’t have crash proofed you.
   • aksteve says:

     May 4, 2010 at 11:57 pm

     Really? Lets see….. in Feb. 2007 when the book release, if I shorted Fannie, Freddie,, GM and bought lots of gold; where would I be today?………hmmmmmmmmm………. F’ING RICH!!!!

     good call jrs.
     • Chuck Ponzi says:

       May 13, 2010 at 10:32 am

       Well… remember that Schiff told everyone to NOT short the market because the dollar was going to be worthless and that shorting was not recommended.

       The dollar has not collapsed like he predicted… Yet.

       It might still but not at least for the short term still. I just don’t believe that the US has done enough to create inflation for a few years.

       They might yet still, but to date haven’t done enough in my opinion.
3. English major says:

   May 2, 2010 at 6:58 am

   Minor correction:
   The comment, “Let them eat cake”,often attributed to Marie Antoinette, was never said by her.
   It was written by Jean -Jacque Rousseau, in “Confessions”.
   “At length I recollected the thoughtless saying of a great prince who, on being informed that the country had no bread, replied”Let them eat cake”.
   When these words were written, Marie A.was only 11 years old, and was not even living in France. She was living in Austria.