Friday, October 18, 2013

Peter Schiff: Janet Yellen Exposed

In September, I wrote a post, The Truth About Janet Yellen's Forecasting Record. In the post, I said:
Yellen never saw the crisis coming. She only turned negative on the economy in 2008. It was hard to miss at that point[...] On February 12, 2008, in a speech before the San Francisco Planning and Urban Research Group, she did offer warnings about the economy but also hedged by seeming to suggest the poor economic performance might only be a problem in the first half of 2008:
Current indicators point to continued anemic growth for at least the first half of this year as well as significant downside risks even to those weak expectations.
Some forecaster.
Peter Schiff has done a great job into digging further into Yellen's speeches and exposing the myth that Yellen is a great forecaster.


  1. Saw this last night. Bravo Pete!

  2. Saw this last night. Bravo Pete!

  3. Schiff has been wrong about everything since Oct 2008. You don't have to dig to find it either. Start by looking up the WSJ article "right forecast wrong plan" and then look up schiff hyperinflation.

    He made a few valid forecasts regarding the housing bubble but you have to take into consideration that he is always predicting bubbles. Broke clock is correct twice a day. That's Schiff's forecasting record.

    1. Peter Schiff 2016. The only person with the correct foresight.

    2. To claim he is wrong is premature. He has been beating the drum of high inflation and hard currency for many years. Anyone who knows anything about sound economics knows price inflation follows monetary inflation and hard currency is the most secure way to preserve wealth.
      Just because it hasn't happened yet doesn't make him wrong. Any prognosticator suffers from the problem of getting the timing right. Predicting exactly when outcomes will occur is the most unknown. Being even one day late in taking the action is catastrophic.

    3. hahahaha
      Oh, Jerry. You're a riot.