He's literally been calling a crash all the way up from over 5 years ago, missing out on literally over 100% returns on the S&P 500 if you look at total return.
Then in 2015 this was his advice on what to do with 100k:
1) Gold: went down more than 20%. No dividend income
2) Miners: -33%
3) Avoid USD. Literally everyone knew the USD would become stronger with the prospects of interest rating increases and the rest of the world spamming QE while the FED is (at least trying) to avoid more QE.
It's as if you guys WANT to lose money.
Right now the markets have seen a very healthy correction which will bring in P/E to a more acceptable level. Sure it may go down another 5% but betting on a complete crash is just stupid.
You should be starting to buy in phases right now. Not sell.
Fuck Peter Schiff.
Are u new?
No one here likes him because he is the quintessential of a broken clock
The only reason he isn't laughed off the face of the earth is because he literally got on tv the day before the 2008 crash and spewed the same doomsday shit he had been since 2000 and still spewed for the last 7 since 08.
I remember a huge controversy where Dave Ramsey, of all people, said exactly this right before the crash, and people were calling Dave a hack for it, even though Dave was 100% correct
No one likes Peter Shill.
His "predictions" are retarded. He's literally /pol/-tier.
>THE SKY IS FALLING THE SKY IS FALLING
>Nothing happens for years
>Eventually something slight does happpen
>"See? I was right all along, I told you idiots but you wouldn't listen to me!"
I found out about him when I watched his video where he talked to OWS protestors. His theory is that the 201X bubble was created by the government, it's going to pop, the government will likely respond by printing more dollars, and then massive devaluation of the dollar will ensue, therefore buy gold and foreign currencies. Plus the massive US debt.
Personally I feel that there's too much uncertainty in what the US and foreign governments will do to manipulate markets. Everything from artificially low interest rates to china buying dollars. I think Peter's concerns are legitimate but his doomsday predictions won't come about until decades from now.
This is exactly why I like him,
because of people like you who have absolutely no idea what is coming.