Overdose: The Next Financial Crisis

In times of crisis people seek strong leaders and simple solutions. But what if their solutions are identical to the mistakes that caused the very crisis? This is the story of the greatest economic crisis of our age, the one that awaits us. For Peter Schiff fans this is a must watch. You can also watch Peter Schiff's speech to Mortage Bankers from Nov. 13th 2006 where he warns of the impending housing bubble and mortgage crisis to catcalls from the audience.

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Grouch: I'm usually not a doom and gloomer, but I am concerned about the long-term finances of the US government, and the long-term prospects for businesses and investors in the US.  I think the taxpayers will get a large majority of the TARP money returned with a profit including AIG.  I am less optimistic about GM and Chrysler. Fannie and Freddie are just a black hole for bailout money with no hope of payback, and the stimulus money is blown with not much return for the debt incurred.  I've written about Cash for Clunkers here-- a moderate waste of taxpayer money in government terms.   What do you think about the bailout bubble?

Peter Schiff Speech to Mortage Bankers from Nov. 13th 2006

Amazingly accurate....

Chart from Carpe Diem

Peter Schiff on G20 Hypocrisy 9/22/2009

 
Whether or not you agree with Schiff, he has a strong and consistent opinion on the financial downturn and what ails the country.