All Posts Tagged With: "Peter Schiff"
In 2006, Peter Schiff Predicted This Financial Crisis
Hank Paulson, Ben Bernanke and George Bush all claim they didn’t see the financial crisis coming. Over and over again they claim it blindsided them. It didn’t blindside Peter Schiff. He warned about it back in 2006.
Peter Schiff Says US House Prices Have Further to Fall
Last week, analysts got all excited about a possible “bottom” in the US housing.
This was thanks, believe it or not, to last Tuesday’s Standard & Poor’s/Case-Shiller report. Despite showing that home prices dropped a record 15.4% during the second quarter, it revealed that the rate of single-family home price declines slowed from May to June.
“Once again, real estate market watchers have pounced on a shred of seemingly positive news to proclaim that the long sought ‘bottom’ is in sight,” says Peter Schiff. “The routine is becoming extremely stale, but somehow the media never seems to tire of it.”
Dollar Bear: More Fed Means Less Money for You
What few economic leaders have acknowledged is that the Federal Reserve itself is responsible for the real estate and credit bubbles, which are the source of our current troubles. By keeping interest rates too low for too long, the Fed ignited a speculative fever and engendered a disregard for risk management that pushed asset prices above rational levels.
Americans Still Asking ‘Where Is My Stimulus Check?’
“Where is my stimulus check?” continues to be one of the most searched for phrases on Google, despite US Treasury Secretary Hank Paulson’s recent assurances that the government will have send out almost $50 worth of economic stimulus checks by the end of the month.
This from Forbes.com:
The first $7 bln of economic stimulus payments went out by electronic deposit last week to 7.7 mln people, Treasury Secretary Henry Paulson said on Thursday. The average payment was $920.
Almost $50 bln will have been sent out by the end of this month and another $50 bln by early July to a total of about 130 mln households, he said after touring a plant printing stimulus checks in Kansas City.
For American tax payers wondering where their economic stimulus check is, there are plenty of websites out there that provide all the usual details about the economic stimulus package.
Those with a more inquiring mind may want to read this article on the stimulus checks by Peter Schiff in The Daily Reckoning.
Peter says the Bush ’stimulus’ package is really a handout to lenders. He also asks one hugely pertinent question that the mainstream press has passed over: If there are no tax increases on the table to fund the rebates, who ends up footing the bill?
MoneyWeek magazine’s Richard Benson says the economic stimulus package is flawed policy in the first place. Richard says, “The US government hopes to revive its ailing economy with tax rebates. But with the cost of living soaring and consumers deep in debt, this will have little effect.”
Where Is My Stimulus Check?
‘Where is my stimulus check?’ has become one of the hottest trends on the Google internet search engine, indicating that many Americans have not yet received their tax rebate check, a major part of the Bush administration’s economic ’stimulus’ package.
As thousands of Americans turn to the internet to find out where their stimulus check has got to, the mainstream press has started to crank out hundreds of “How to spend your stimulus check” filler articles. Like this piece form The Washington Post urging hard-pressed Americans to donate their rebate checks to charitable organizations supporting “our troops and their families.”
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