The Prestidigitator

I realize that The Daily Show is no place to get my news from but Peter Schiff, who was on recently thinks that the worst is yet to come. Maybe, somebody should listen to him seeing that he was pretty much spot on about the current shitstorm as far back as 2006. To top it off, he thinks the bailouts are a huge mistake and that the “fundamentals” really aren’t all that strong.

“The credit crunch is part of the solution. The problem was all the reckless credit that preceded it. You know, when Barack Obama says that credit is the life blood of the economy — he’s talking about consumer credit — it’s not the life blood – it’s the cancer.”

“Massive inflation — which is what we’re gonna get – we’re just gonna destroy the value of our money.”

Such comfort.

[Read more here.]