Peter Schiff: Bernanke has never gotten anything right; Fed chairman disagrees

[The Northerner]

Putting Peter Schiff on a panel with St. Louis Fed President James Bullard and former Fed Vice Chair Alan Blinder is asking for trouble or, at the very least, a heated debate.

That's just what occurred last Sunday night in New York at an event sponsored by Princeton's Business Today.

Predictably, Euro Pacific Capital's Schiff disagreed with Bullard and Blinder on just about everything, including the government's role in causing the crisis, and the outlook for the economy and the dollar.

But the most contentious moment came toward the end of the evening when a student asked the panel to comment on Ben Bernanke's 2005 "global savings glut" theory, and what role China's high saving rate played in the credit bubble.

Schiff's response, "Ben Bernanke has never gotten anything right," generated some guffaws from the crowd and a sharp retort from Blinder and Bullard, who rose to Bernanke's defense.

http://finance.yahoo.com/tech-ticker/article/379864/%22Ben-Bernanke-Has-Never-Gotten-Anything-Right%2C%22-Peter-Schiff-Says%3A-Fed-Officials-Respond

[notesdev]

1. "Subprime is contained"

'nuff said!

[CoffeeCat]

2. Peter Schiff always takes on the big criminals...

...and he's always right--despite the fact that there is a concerted effort to discredit him.

Schiff warned about the VERY crisis we are in now. When banks were handing out mortgages like
candy--Schiff warned of the housing bust. He also warned that the economy would collapse due
to spending that was propped up on rampant credit-card spending and people spending their home
equity.

Schiff called it ALL in frickin 2006!

Anyone else see his debate with Art Laffer--the father of supply-side economics and economic adviser
to Ronnie Reagan? Laffer mocked Schiff and guffawed at his predictions, which turned out to be
prescient. Laffer showed such contempt for Schiff, and laughed at Schiff, when he dared to suggest
that the American economy was in trouble and headed for a fall.

When Schiff speaks, I listen. When he goes up against the criminals who are orchestrating this downfall
and profiting from it--I listen even more intently.

Schiff is one of the last honest voices out there, and he is not afraid to take on the corporatists
and the Fascists who are destroying this country and our economy.

[exboyfil]

4. I like Peter Schiff but he was wrong on

how truly bad the meltdown was going to be (ie owning foreign stocks did not help).

[truedelphi]

5. + 1. n/t

[CoffeeCat]

3. Link to Peter Schiff predicting the future (Art Laffer)

Link to Schiff, in 2006, predicting economic collapse tied to the housing bust (among other factors).

No one else was saying this back then. Watch how Art Laffer not only disagrees, but viciously attacks
Schiff. Laffer, one of Reagan's principal economic advisers, was protecting the status quo. No one
in the elite circles wanted the peasants to discover, just yet that we were being bamboozled. The corporations
needed a year or two to pillage us even further.

What a putz Laffer is. He was so cocksure and so denigrating to Schiff. And Schiff was right about everything.

Watch and be amazed---and disgusted--that at how these neocon Fascists rabidly protect the corporations and
try to ruin anyone who dares to speak the truth. http://www.youtube.com/watch?v=lYkFYdLTTw8