Economists Are Unconcerned By a Rise in Consumer Prices. “Economists played down the increase in prices, saying inflation is likely to ease in the coming months as prices for raw materials level off.” At some point these people need to have their credentials revoked. They didn’t see the collapse. They didn’t see the imminent failure of Porkulas. They didn’t anticipate the inflation. And they will be surprised yet again when it turns into stagflation as soon as banks start lending money again and the market realizes a trillion dollars was created out of nowhere.
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it was amazing just how smug some of those folks were concerning what he was saying. i think they should show this on air and ask the smugjerks to comment.
I was listening and believing Peter Schiff back since 2008. All of my friends told me I was nuts. I retired a little over a year ago {age 49} because of what I learned from him.
I love the clips-they really make me laugh!
Barak Obama: "Did I do that?!?"
Only concerns me to the extent that I'm still not earning any money to pay for what is costing me twice as much.
Economist have a slightly lower percentage of successful predictions then a meteorologist from the national weather service. However I'd rather have the meteorologist along.
"An economist is an expert who will know tomorrow why the things he predicted yesterday didn't happen today." -- Laurence Peter
Only journalists have less credibility than economists. But journalists know they are lying to the public, economists sincerely think they know what they are talking about despite being wrong nearly 100% of the time.
Where's my pony?
Everything has gone up. What used to cost me 100 a few years ago is now 200 dollars or more, but my earnings are the same and others have no jobs! It is really horrible in the real world and these economists do not live in it.
Perfect explaination Kimmy. The price of everything but buying a house has gone up, and Obama and Co claimed we had no inflation. Now, economists that have no problem paying their bills, are telling us there is nothing to worry about. Tell that to those of us who are doing actual work for a living.