Peter has a style that is, shall we say, irritating to some people… mostly to people who have no idea what happened to their little perfect bubble world.
I can relate to him with his real estate experiences. The price to rent ratios and CAP rates became a total and complete joke. Now, of course, everyone saw it coming! But BS, hardly anyone did, and hardly anyone took action.
While Schiff’s views have been mostly correct domestically his overall view on inflation/deflation, on the dollar, and on effects overseas have not been perfect and are a point of contention, witness the recent articles by Mish.
Personally, I would concentrate on the similarities in opinions between Schiff and Mish. They are both correct, I would lean on Mish being most correct on the fundamentals, but Schiff may be proven correct in the long run on inflation. Ultimately the outcome depends on government actions and how much abuse the people are willing to take from the central bankers. Personally, I was done taking their shit a long time ago and am just waiting for everyone else to catch up (not most regulars here – lol).
At any rate, Peter’s perspective is great for a topic of conversation, pay attention to his take on domestic real estate, long term dollar, and bond market possibilities. You may want to watch the first video (short) and come back later for the long video in the evening or this weekend.
Peter Schiff on CNBC – The Fed's $1.2B Gamble (7 min)
Why the Meltdown Should Have Surprised No One (1 hr, 16 mins):