Consumption and Real Estate
Nov 2006 Peter Schiff Mortgage Bankers Speech Part 4 of 8
In 2006 Peter Schiff tells over 1000 mortgage brokers they are about to be out of jobs. Watch how he completely nails the coming real estate/mortgage debacle before anyone else even realized it was coming.
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#3 written by fluff125 1 year ago
Hmm. I think Schiff is what we need right now. Ron Paul is good for all of the social reforms we need, Schiff is good for all the economic reforms we need. Although maybe we should elect Paul first because he’s old and may die soon. Perhaps Paul president Schiff Vice president? Or the other way round?
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#4 written by Mediterraneanblue9 1 year ago
Because it would of killed demand and therefore a surplus of homes. When mortgage companies are pushing liar loans, do you think bankers want to listen to this guy. Forget about people. People making 13/hr with no money down wants that American Dream and they will do anything for it.
Both the Republicans and Democrats are to blame for this one also. epublicans turned a blind eye and the Democrats want their marginiized constiturmts to have owneship, so they can get r-elected.
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#5 written by Mediterraneanblue9 1 year ago
Here is a great example: My friend bought a house in 2002. He was making $13/hr installing carpet (of course remodeling your home during that time was big business). he put no money down and he had no money saved. He ended up getting a house for $212K and an ARM, but at the time I thought it was odd. Now I look back and think HOLY SHIT! ANd yes…he ended up foreclosing on the house 1.5 years later. He said he didn’t lose any money, but his credit got a decient hit. Lesson learned.
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#7 written by jaffijoe 1 year ago
I’ve been listening to and watching Peter for about 4 years. He is a pretty loud guy and comes off cocky sometimes. But, he knows his stuff. He is well educated in the Austrian School of Economics, The Austrian Business Cycle, Credit and Fractional Reserve Banking, and of course the equities and commodities markets. He knows his stuff.
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#14 written by 63ALDO 1 year ago
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#21 written by drinkofwater21 1 year ago
this whole video needs to shown in front of congress.
its amazing to see everyone on cnbc and such saying NOW what he was saying over 3 years ago.
Congress needs to pass a law (because they don’t have enough already) that says anyone who talks about the housing and economic crises, must before utter “I’m quoting Peter Schiff” then say what they need to say
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#24 written by kanechi100 1 year ago
maybe that will be the best place to be next year but after that not. As there is a carry trade on short term treasuries a squeeze could happen and stocks going down could generate demand for dollars like in 2008 and the 30 yr could go from 4.5 to 2 or lower providing nice gains and it is liquid. after that though watch out.
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Well if Ron Paul dies for whatever reasons, he would make a good replacement.