Before you think to yourself, “Yikes, a 20 minute video!”, watch at least 1 minute and you might find you can’t turn it off – it’s *that* good.
For those that don’t know, Peter Schiff is an interesting character. He is known as being one of the few economists to predict the credit crisis, as he had been pounding the table from 2005-2007 on TV, print and radio. However, he also incorrectly called for a 5 year bear market post 9/11. His views are heavily based on the Austrian school of economics, which is not very mainstream. And while he correctly predicted the credit crisis, his clients actually fared worse than the market returns nonetheless as the investment strategies he recommended didn’t pan out in light of his accurate fundamental forecast.
In any case… in this video he heads down to Zucotti Park in Manhattan where the original Occupy Wall Street movement is set up and takes on various opinions one by one. In many cases he absolutely destroys the lack of factual arguments and faulty assumptions by some protesters. Not to belittle the movement, but there are certainly some uninformed participants. The more informed dissenters are not represented in this video, but that’s because video editors have all the power in this world. :)
Enjoy!
That’s beautiful. The 1% crazy person talking to the 99% crazy persons.
I have to give him credit for having the courage to do this.
Ha ha – well put! :)
Peter Schiff — Did’nt this guy predict there would be recessions in 15 of the last 10 years.
Pretty much. Also the fact that his clients lost more than the market even though he called the sub-prime crisis well also makes you pause.