WSJ: Peter Schiff

[psi2941]

http://online.wsj.com/article/SB10001424052748704540904575451662460363370.html?m od=googlenews_wsj

[MozoVote]

I think the article spins the doomcast side of things. Peter Schiff isn't saying that a collapse is going to happen - his point is to hedge your bets in case it does, because he beleives that it's really possible if our policies don't improve.

Go read up on the posts by "Some Investor Guy" on CalculatedRisk. Sovereign defaults happen - and have happened repeatedly in some parts of the world. Countries with real natural resources tend to get fresh loans, and new opportunities to go bust all over again.

[thx1149]

I think the article spins the doomcast side of things. Peter Schiff isn't saying that a collapse is going to happen - his point is to hedge your bets in case it does, because he beleives that it's really possible if our policies don't improve.


Really? I've listened to and read a lot of Schiff over the years and I get the impression he is saying that if we don't change what we are doing (and we aren't going to) then the collapse is inevitable. He doesn't put a specific date on things, but he has clearly said sometime within the next couple years on several occasions.