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A Great Example Of How Clueless The “Experts” Have Been And Continue To Be

25 November 2008 2 Comments

You probably have already figured out yourself how clueless the market “experts” on CNBC and other media outlets are regarding the financial system, the stock market, and the overall economy.  Here is a fantastic example of how clueless they have been for the past few years.  In this video, you will see some of the biggest names in finance such as Ben Stein making fools of themselves.  Pretty sad and pretty entertaining at the same time.

The following video is entitled, “Peter Schiff was right” and has been becoming popular on YouTube over the last few weeks.  Peter Schiff is the President of Euro Pacific Capital and is an economic expert with an unmatched track record as you will see in this video.

What is truly amazing here is 1) how incredible dead on Peter Schiff has been for years regarding the economy and 2) how incredible flat wrong the mainstream financial media has been regarding the real estate situation, the financial system and the stock market.

What I really want to let you in on is that these interviews, that everyone can agree on in hindsight are completely ridiculous, are still happening today.  Peter Schiff was on CNBC last week on Fast Money saying we have just begun this crisis, it’s going to get worse, our dollar will collapse.  The response?  The same as you saw in these interviews.  The Fast Money crew responded along the lines of “Peter, I give you credit, you’ve been dead-on, but you’re wrong about the future”.

Peter Schiff’s track record speaks for itself, and so does everyone elses.  Who are you going to trust for financial advice.  I’ll stick with Peter.

2 Comments »

  • ratsock said:

    I love 6:28, analyst recommendations. First stock recommended: Merrill Lynch. Hilarious… (in hindsight) I burst out laughing the second I saw that 🙂