Peter Schiff Silenced: TV Bookings Down 75%
If you follow the main stream media exclusively, chances are you are seeing less and less of Peter Schiff these days. It seems that the mainstream has had enough of the pessimistic porn he has spewed over the last two years. The media needs to paint a pretty picture, and Peter Schiff’s position on where the economy and financial markets are going doesn’t bode well for what they are trying to do. Justin Fox, at Time.com, writes Why We Should Listen to Peter Schiff’s Bad News.
How could a bear have managed to lose money last year? Schiff was blindsided when global investors piled into dollars and U.S. government bonds during last fall’s panic. But that rush to safety has already abated, and over longer periods, Schiff’s decade-old strategy of steering clients out of U.S. securities and into commodities and overseas stocks has been a big winner. His investment record surely can’t be the reason for his fall from media grace.
99% of asset managers got creamed last year, and Schiff was no exception, at least in the short-term. If the reason the mainstream media is keeping Schiff off the air is because of his record, then they should be consistent and dismiss the rantings of other financial analysts and economists, considering most of them got it wrong as well. In fact, not only did those economists and analysts lose money last year, the didn’t even see the train coming.
SHTF Plan suspects that there are other reasons behind Schiff’s mysterious dissapearance in the mainstream, his Libertarian leanings probably standing out above the rest.
You can always visit our Peter Schiff section for the most up to date appearances for Mr. Schiff. Or, go directly to the Peter Schiff YouTube channel for regular updates via the Peter Schiff Video Blog, posted several times a week.
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Date: May 26th, 2009
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