Peter Schiff - Massive inflation - Not an economic recovery.

I'm not a big thread writer but this one seemed like it might be relevant.

Peter Schiff hasn't been as visible on the news lately as he was in the first quarter of the year. He's got a blog though and is telling it like it is.

Today he said that 2009 has been his most successful year ever as an investor. Things are going the way he called it.

I don't think he says "I told you so" but he comes real close.

If he's right, we (U.S.A.) are going to be up the creek. He says everybody else is going to get better as decoupling continues.

If you invest, if you have stocks, bonds or assets like gold, if you want to know what all of the confusion is about, watch this clip. The guy knows what he is talking about and might be one of the few that can really explain our economy honestly.

www.europac.net...

[edit on 29-5-2009 by badgerprints]

[edit on 29-5-2009 by badgerprints]

Good eye.

I think it is pretty much spot on.

Yep. None of the learned economists can come to agreement on what is going to occur. The U.S. government played on our fears a few months ago so it could spend more and more that we don't have. Now it seems all is well, or soon will be well, and even the recession has bottomed out. I don't see it that way. 12.5%, currently, homeowners are behind in making their payments or else are in foreclosure. The economy is now causing defaults from those borrowers that made rather sound loan decisions, not using sub-prime or variable loans. Commercial real estate is expected to be hit harder soon, credit card users just might be hit with increases in penalties and interest rates as lenders rush to counteract the new laws that will come into play. Expect many more loss of jobs from the automobile sector, all the way down from the big corporations to the little parts suppliers. And, hey, just ask a waitress or waiter how things are going. They rely heavily on tips and the tips are getting smaller, even nonexistant and the customer base is shrinking. This says a lot about an economy like the U.S.'s economy. I don't believe we have seen it all, yet. Inflation WILL soar. Give it some more time if you happen to believe all is well and we are recovering. And don't forget, our present administration in the U.S. government wants to attain healthcare for all this year, "or else it will never happen". That's an estimated another 1 Trillion dollars in initial and soon future expenditures. I am not a learned economist, I have taken some basic and more advanced economy courses, seeing as how I am educated in the accounting and financial career fields.

I no longer participate in such career activities professionally. But that doesn't mean I am totally ignorant. Maybe I just know enough to be dangerous.

massive inflation is not here........it is not imminent either.........their is a POTENTIAL (should banks start lending and get money into the economy) ...or should the fed start issuing 1000 $ notes.....till then it is just a potential....

should bond auctions go poorly the fed will show up EN MASSE....and drive yields lower.....

i do agree that short term the dollar will be devalued and gold and oil will go to 1000 and 70 and then possibly 1100 and 85 by july 4....but those price rises are not money printing and money lending ....but devaluation and speculators increasing investments into commoditys

[edit on 29-5-2009 by cpdaman]

Originally posted by cpdaman

should bond auctions go poorly the fed will show up EN MASSE....and drive yields lower.....

and just how would they do that? Maybe by printing more dollars to stuff into the economy???

i do agree that short term the dollar will be devalued and gold and oil will go to 1000 and 70 and then possibly 1100 and 85 by july 4....but those price rises are not money printing and money lending ....but devaluation and speculators increasing investments into commoditys

[edit on 29-5-2009 by cpdaman]

devaluation of what? the dollar? how could that not be from money printing?

What's happening right now is purely the fact that investors are becoming increasingly skiddish because of the fact that the Fed keeps printing dollars to pay for all the outlandish bail outs and anything else our newly annointed dictator wants.

The result will be devaluation and inflation coupled with gigantic unemployment.



[edit on 29/5/2009 by Iamonlyhuman]

they've got deflation going on in Europe at the moment

reply to post by cpdaman


Nice post, I dont know if i agree with you all the time, but you are pretty spot on IMO

We have lost about 50% of our wealth over the past year and people are calling for inflation?

Lets get real guys... I dont have a degree in anything but common sense (others would argue lol) but I think its pretty obvious

EDIT: NEVER UNDERESTIMATE UNCLE BEN.. HE IS A GOD IN THE MARKETS, AND IF HE FLEXES HIS MUSCLE YOU CAN TURN ALL YOUR FROWNS UPSIDE DOWN!!!

[edit on 29-5-2009 by GreenBicMan]

i gotta learn how to embed 2 quotes then reply ....until then bare with me


iamonlyhuman says

"and just how would they do that? Maybe by printing more dollars to stuff into the economy???"

"the economy" .....= what exactly....... $ sitting on bank's balance sheets....parked in the fed's reserve account....collecting interest on excess reserves......that isn't inflation

iamonlyhuman says


"devaluation of what? the dollar? how could that not be from money printing?"

well......The FX market investors/speculators buy and sell currency's pushing some UP and some down (devaluation) .....devaluation doesn't = money printing it equals more FX dollars betting against a currency. This can be for a number of reasons....today bonds gained nicely and the dollar tanked


iamonlyhuman says

"what is happening is investors are becoming increasingly skiddish because of the fact that the Fed keeps printing dollars to pay for all the outlandish bail outs and anything else our newly annointed dictator wants.

The result will be devaluation and inflation coupled with gigantic unemployment. "

the result will be increased downward pressure on the dollar and likely devaluation with THE Potential for monetary inflation (but money sitting at the fed collecting excess reserves....and interest on such excess reserves is not monetary inflation......

and devaluation will equal some consumer price inflation in oil (we know this)....and probably food as well (since investors pile into commodity's) but this is different from the monetary supply definition of inflation....

Green Bic Man i enjoy your posts......perhaps tonite b4 bed you can say a prayer to lord ben.....he will need it in the coming year(s)

[edit on 29-5-2009 by cpdaman]

Lest we forget Heir Obama's National Heathcare Program and Energy Cap and Trade and the most recent idea, a 25% National Sales Tax. Combined, that should sufficiently bankrupt the majority of Americans, but it will force us to borrow again...only this time to survive.