Mike Stathis suggests Peter Schiff: Wrong on the Economy, Wrong on Healthcare , and includes Faber, Rogers and ‘other lackeys’ in his assessment.
So now Iâ€™d like to take the opportunity to teach Mr. Schiff and his fellow perpetual doomer colleagues (Faber, Rogers and their lackeys) a few lessons in economics, investment management, and of course healthcare. Letâ€™s begin.
Having worked on Wall Street, Peter should realize this. But all you really need is some common sense. I donâ€™t think Peter is a dumb guy. But when youâ€™re trying to pitch a sales line in order to get more business, the results often make one seem as if they were not too bright.
As the facts show, gold is a hedge against deflation. The misinterpretation often arises when the gold bugs fail to consider that gold provides a short-term safe haven during crises. Inflation happens to be a frequent side effect of these crises.
Based upon what I have seen and heard, Mr. Schiff doesnâ€™t seem to be particularly good at forecasting market movements. As far as heâ€™s concerned the market is going down, down, down. How many years has Mr. Schiff made these forecasts now? Fifteen?Â
Always remember this. Extremists are never right, and they are often dangerous. You have to know when to change channels, even if itâ€™s for a brief period.
Any reasonably experienced investor knows that the most critical skill required to handle bear markets (or any market for that matter) is the ability to forecast major market movements; up and down.