Peter Schiff

This is old news, but still pretty awesome.  A couple YEARS ago Peter Schiff, economist / financial dude, started talking about a future recession fueled by an over-leveraged economy.  He used terms that seemed alien a year ago but all too familiar now: toxic debt, credit crunch, etc.

[Video from this post was supposed to be here but Tumblr is…touched.]

Now even a broken clock is wrong twice a day, but it’s hard to imagine people’s sheer incredulity in Peter’s words.  They literally act as if he’s a crazy person that got into the set.  My favorite bit is when other analysts suggest buying stock in ‘steals’ such as: Merrill Lynch, Bear Stearns and WaMu.

Want some more Peter Schiff? He was also on NPR’s Planet Money podcast, here: http://www.npr.org/blogs/money/2008/11/hear_peter_schiff_is_warning_y.html.