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Prescience!
Wednesday, Nov 26, 2008 3:23AM / Standard Entry / Members only
7 comments

not sure if this guy is the most accurate fortuneteller on wallstreet or not, but in hindsight, it looks like he saw this financial crisis coming for at least two years:

Video: http://www.youtube.com/watch?v=2I0QN-FYkpw

then again they say that even a broken clock is right twice a day... sometimes these predictions are pretty open ended and in hindsight people think you have magic powers to predict the future... (ever heard of a guy named Nostradamus?)

ah, there's a word for it: Postdiction

still, makes the other pundits look like idiots... :-P

Entry comments (7)

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Jun Kung
posted on Friday, Nov 28, 2008 1:04PM [Report]

Interesting post....Peter Does make a lot of sense and how the camera angles just make him seem like one pessimistic guy,grey and grim...I dont know much about stocks but Peter was very consistent with his Statements....thanks for the post...etch
xibanyae
posted on Thursday, Nov 27, 2008 12:17AM [Report]

arrogancy? that is automatic everytime someone criticizes any of "america's" fundamental values in front of one of this type of americans...

economy bad????? NOOO! only a slight slow-down... if you dare to criticize like that your country then you must be a domestic terrorist!
Flagday
posted on Thursday, Nov 27, 2008 12:00AM [Report]

He wasn't just making one-liner predictions.  He had an entire logical analysis, and everyone was laughing at him.  And they were all recommending FINANCIALS including Bear and WaMu.

I wonder how his clients did in this mess.  He was even right about the timing....we'll be in a clear recession in Nov 08.

Too bad I don't watch Fox!

P.S.  Everyone wanted to keep riding the wave of the artificial inflated prices for stocks and real estate.  Current profits, get rich quick, over leveraging, that's what this was all about.  And now poor slob taxpayer like me will be left holding the bag.
rottendoubt
posted on Wednesday, Nov 26, 2008 6:04PM [Report]

it's interesting to see how arrogant everyone else is...
Ghost Style
posted on Wednesday, Nov 26, 2008 1:02PM [Report]

Peter Schiff & Ron Paul
Etchy
posted on Wednesday, Nov 26, 2008 11:09AM

a nation of whiners!
xibanyae
posted on Wednesday, Nov 26, 2008 9:34AM [Report]

what an interesting video!!! the other guys is an idiot, even 2 years ago he could not have said our economy is fantastic!!! furthermore, thereare people that still TODAY say we are not on recession... oh well ;)