George Washington’s Blog | Tuesday, Dec 09, 2008
There are only a handful of people who predicted this financial crisis, or at least its severity.
What are they predicting now?
Peter Schiff and Ron Paul
Schiff, the manager of over $1 billion dollars in investments, says the U.S. will enter a long period which could be worse than the Great Depression.
Schiff also thinks that the economic crisis might lead to martial law.
He thinks that Asia and Europe, after a period of economic downturn, will “decouple” from the U.S., eventually enjoying great prosperity long before the U.S. recovers.
Schiff has admitted that he did not foresee the current rally in the dollar, and his investors – long in Asian and European stocks – are way down.
Schiff was Ron Paul’s chief economic advisor during his campaign. Paul has himself predicted the crisis for many years, and has warned that America is spending more than it can afford. Paul has also repeatedly warned of martial law. Continue reading ‘What Are The People Who Predicted the Financial Crisis Predicting Now?’