Originally posted by: Infohawk
Peter Schiff on Fox News Regarding Health Care
I'm not crazy about Peter Schiff, but I sympathetic with his views here. It's probably the only thing that is going to reset the messed-up health care price system we have now.
Originally posted by: ericlp
Schiff is biased since his dad was a insurance agent for his entire life. Of course he wants the government out of insurance policies. Yeah, let's all pay 50 bucks a month with a 5000 deductible. Whoohoo, where do I sign up. He's a disaster waiting to happen.
Now that the economy is doing good, this tweeb is jumping on the bandwagon and fox is eating it up for all it is worth.
Originally posted by: DS9VOY
Schiff has already ended his political career.
I have already seen 2 interviews with him. Both of them went along these lines
Interviewer: So you are against medicare along with any other current government health programs?
Schiff: Yea I would get rid of them all and would work to that end in the senate.
Interviewer: So you would take away medicare from seniors?
Schiff: Yea
Interviewer: Aren't your parents on medicare?
Schiff: Well yea.... but that's different.
FAIL.
This guy is a celebrity among the doom and gloom folks on the internet because his claim to fame is that he predicted the current recession. Of course he is a PERMA-BEAR and has been predicting a recession every day for the past 10 years so of course he will eventually be rgiht.
Hell I predicted this recession! When I saw people getting 50 year mortgages and then taking out instant home equity lines on them I knew we were in trouble. In fact at the end of 2007 I moved ALL (and I mean ALL) of my investment funds to short term AAA rated bonds. This was before most people had a clue what was coming. ALL my investments were in the black during 2008. Anyone who pays attention would have seen it coming.
But he is a celebrity to these people so they are sending him tons of cash and asking him to run for office because he is their personal little hero. Kind of like the fools who wanted Al Bundy to run for office back when Married with Children was on the air because a small fan base thought he had special insights no one else had.... what a joke.
Originally posted by: Infohawk
Peter Schiff on Fox News Regarding Health Care
I'm not crazy about Peter Schiff, but I sympathetic with his views here. It's probably the only thing that is going to reset the messed-up health care price system we have now.
Originally posted by: Evan
Originally posted by: blackangst1
Originally posted by: Evan
Schiff is like any other politician or soon-to-be politician; ends justify the means if it results in their ultimate agenda being passed. In Schiff's case, just as in Ron Paul's case, they run as Republicans even though they are nothing of the sort, something they openly admit, and have in fact admitted that they only run as Republicans because they'd lose otherwise if they ran under the Constitution or Libertarian party banners.
He's running as an indi though?
Unless he changed his mind since last week, no he isn't.
Originally posted by: LegendKiller
Originally posted by: DS9VOY
Schiff has already ended his political career.
I have already seen 2 interviews with him. Both of them went along these lines
Interviewer: So you are against medicare along with any other current government health programs?
Schiff: Yea I would get rid of them all and would work to that end in the senate.
Interviewer: So you would take away medicare from seniors?
Schiff: Yea
Interviewer: Aren't your parents on medicare?
Schiff: Well yea.... but that's different.
FAIL.
This guy is a celebrity among the doom and gloom folks on the internet because his claim to fame is that he predicted the current recession. Of course he is a PERMA-BEAR and has been predicting a recession every day for the past 10 years so of course he will eventually be rgiht.
Hell I predicted this recession! When I saw people getting 50 year mortgages and then taking out instant home equity lines on them I knew we were in trouble. In fact at the end of 2007 I moved ALL (and I mean ALL) of my investment funds to short term AAA rated bonds. This was before most people had a clue what was coming. ALL my investments were in the black during 2008. Anyone who pays attention would have seen it coming.
But he is a celebrity to these people so they are sending him tons of cash and asking him to run for office because he is their personal little hero. Kind of like the fools who wanted Al Bundy to run for office back when Married with Children was on the air because a small fan base thought he had special insights no one else had.... what a joke.
Hey, keep in mind his parents most likely need Medicare.
Why?
Because he lost all of their money too!
Originally posted by: Tequila
I do disagree with Peter on Medicare but you guys are spreading misinformation about his performance(seen this in other threads also). He's been long on foreign stocks, gold and commodities for the last 10 years which of all done extremely well. Yes his clients got hit in 2008 just like anyone else who was long but look how quickly foreign stocks have recovered.
Up until a month ago he's never actually run a mutual fund so there is no official track record where you can site his actual client's gains or losses. You would have to go to each client and ask them about their gains and losses based on Peter's advice.
Originally posted by: LegendKiller
Originally posted by: Tequila
I do disagree with Peter on Medicare but you guys are spreading misinformation about his performance(seen this in other threads also). He's been long on foreign stocks, gold and commodities for the last 10 years which of all done extremely well. Yes his clients got hit in 2008 just like anyone else who was long but look how quickly foreign stocks have recovered.
Up until a month ago he's never actually run a mutual fund so there is no official track record where you can site his actual client's gains or losses. You would have to go to each client and ask them about their gains and losses based on Peter's advice.
There have been several (besides Mish) who have shown his performance (or lack thereof). His insights were predicated upon various incorrect and extremely poor assumptions (none of which were grounded in reality). Namely, US economic decoupling from the world economy, the lack of any demand for US currency, the value of gold skyrocketing, oil skyrocketing (driving his alt-energy recommendations), among many others.
All of these ideas were poorly planned and executed. While he was recommending oil stocks, any fool could recognize oil was a bubble. While he was recommending foreing stocks rather than US, any fool could recognize that decoupling was a myth.
His prognostication on the US credit crisis only occured AFTER the crisis was a rock falling on his head. Anybody with reasonable deductive skills (and ones that were detached from the go-go period of the 03-06 era) knew before his great announcement that it was going to fail (I was saying so back in 2003 on various forums, such as GotApex and FatWallet). When he was saying the sky was falling in 2006, I was already recommending to one of the biggest CC lenders to fortify their funding plans (they scoffed at me in that period), but I did layer in more than $4BN in conduit funding into their treasury plans.
Schiff, unsurprisingly, is not a wealthy person and is countered by the wealthiest people in this country (Gates and Buffet) who don't believe in his BS. Frankly, I'll listen to them long before I'll listen to a shitty advisor and poor prognosticator.
Originally posted by: Tequila
You're basing his performance on pure conjecture. You have no hard numbers on his client's performance because neither you nor I can present them. Yes, gold has not skyrocketed but he was recommending to buy it back when it was $350. Oil peaked last year but he's been recommending oil since 2002. Foreign stocks have outperformed US stocks by a huge margin since 2000 and he has been recommending them for several years. Whether he is right or wrong about decoupling is irrelevant to the actual performance.
Do you know what is personal wealth is? You said he lost all his parents money. Can you back that up?
He was nicely rebutted by Argo.Originally posted by: tfcmasta97
If his views are what you listen you, you get suckered by really really really shitty cases and even worse reasoning. miketheidiot does a good job on breaking down why
Originally posted by: eskimospy
Peter Schiff has been hilariously wrong for almost his entire career. He totally predicted this latest crisis, but any reasonably person would look at his history and realize that a stopped clock is right twice a day.
No smart person would ever vote for this moron, he's made a career out of being a shit analyst.
Originally posted by: eskimospy
Peter Schiff has been hilariously wrong for almost his entire career. He totally predicted this latest crisis, but any reasonably person would look at his history and realize that a stopped clock is right twice a day.
No smart person would ever vote for this moron, he's made a career out of being a shit analyst.
Originally posted by: Genx87
Originally posted by: Infohawk
Peter Schiff on Fox News Regarding Health Care
I'm not crazy about Peter Schiff, but I sympathetic with his views here. It's probably the only thing that is going to reset the messed-up health care price system we have now.
This guy hits it on the head imo. Nobody knows nor cares about the cost of their procedures. The tax code has helped Americans to be stuck getting insurance through their employer. Which I have heard is one of the reasons for wage stagnation over the past 20 years. Employers are basically giving wage increases via medical insurance benefits due to the astrnomical rise in insurance cost.
Originally posted by: Infohawk
He was nicely rebutted by Argo.Originally posted by: tfcmasta97
If his views are what you listen you, you get suckered by really really really shitty cases and even worse reasoning. miketheidiot does a good job on breaking down why