FYI Peter Schiff is the economic advisor behind the politician, Ron Paul. [EDIT: for the 2008 Presidential Campaign]
Much of what Schiff predicts are dependent on the rest of the world 'cutting us off' by depegging their currencies from the dollar and turning away from treasury bonds -- both of which are not happening, and to the contrary, much of the world is turning toward our treasury bonds in this crisis. Oil being down and perceived weakness in the euro are definitely helping us right now, too.
I've never heard of Peter Schiff being related to Ron Paul in any particular way (not saying he isn't, but "behind the politician" seems extremely implausible). I'll point out that Ron Paul's basic premises are what he's been espousing since the 1970s, when Peter Schiff was about ten years old.
Wikipedia says "Schiff was an economic adviser to Ron Paul's 2008 presidential campaign." Sounds like he was one of multiple economic advisers, and it sounds like they aren't associated in any official capacity today.
You're right, I overreacted. I just don't like seeing a politician trained in medicine given the same credibility on economic analysis as someone with a technical background in finance. Not to downplay Ron Paul's solutions to our economic problems, but I've never seen him make an in depth case for why we are where we are today like Schiff has -- his job doesn't call for it.
and I don't like to see people well trained in finance completely screw up the economy...as they have.
Most "experts" have no more credibility now than the masses who can barely calculate simple interest. They are a bunch of paid-for shills. Just because you understand the math behind derivatives does not mean they should have ever been allow to exist.
Much of what Schiff predicts are dependent on the rest of the world 'cutting us off' by depegging their currencies from the dollar and turning away from treasury bonds -- both of which are not happening, and to the contrary, much of the world is turning toward our treasury bonds in this crisis. Oil being down and perceived weakness in the euro are definitely helping us right now, too.