Austrian Economist, Robert Murphy on the Debt Ceiling

Oh, and as my post above clearly shows - taking money out of U.S. equities and real estate and putting money in precious metals over the last ten years has done VEERY well..wouldn't you say?

 

His main theory after the housing crash happened was that hyperinflation would ensue because everyone would be dumping their dollars and getting out of dollar denominated assets.

Did that happen? No. So he was wrong about what would happen. He has called for hyperinflation for the past 6 years. Was he wrong? Yes he was wrong.

So does Peter Schiff have it all figured out? No.

Please apologize for acting like he does, thanks!

 

I agree..he does call for hyperinflation WAY too often. Though I think he has backed off on that prediction lately - at least for the near future.

And I never once said to you that he 'had it all figured out' - now did I?

Quite the contrary.


But if you are familiar with him - then you KNOW that he called for people to get out of U.S. real estate/equities and currency YEARS before the crash and put that money into precious metals and offshore equities and currencies.

And as my post above clearly shows - that has worked out VERY well for people that followed that advice (for the most part - I am not familiar with which offshore equities he advised to invest in).

 

Of course it has. Great call. People who invested in Apple 10 years ago have made over 1700% return. So I guess those people are much smarter than people who stuck their money getting only 400% return.

 

He advised investing in foreign equities because he didn't think foreign countries would be affected by the US housing crash and figured the international financiers would take their money out of the US and stick it in other emerging countries. What happened? Foreign countries were hit even harder than the US and foreign equities got crushed. So he was wrong again. Maybe he isn't some economic genius as you think he is.

 

They did much better, yes.

I think I could live with a 500% return in ten years.

 

Where exactly did I say that he is 'some economic genius'?

I never have.

You just cannot stop putting words in people's mouth's and resorting to statements of MASSIVE in-exactitude can you?



I guess I over estimated your abilities and integrity.

My mistake.


I thought you were someone possibly worthy to debate with.

That you might bring facts, figures and discipline to a discussion.

I can see I was mistaken.

There are tons of immature acting people like you I can debate with.

I don't need another.


Have a nice day.