Thursday, December 11, 2008

$14 billion auto bailout dies in Senate



That's what I said was going to happen all along!

4 comments:

salty dog said...

Thats what you said all along?

Yes well, when you make a public apology to Peter Shiff for your outrageous belittling and out-to-lunch housing musings, I might begin to consider your thoughts as credible.

Not yet.

Mike Norman said...

Schiff's a joke.

googleheim said...

Peter Schiff was courageous and heroic to point out the tsunami.

However, his suggestion to leave "dodge" and get into foreign currencies ( Japanese Yen was not specifically mentioned, but would have been a great dig )and out of anything USA was equivalent to going out to see watching flopping fish on the tidal retraction.

So it is a mixed case. At least he was not the other jokesters on the other sides of the table telling everyone to get into MS or other financials at $175 a share.

However, he missed on the run to the dollar.

Tax policy would have provided a simple enough oversight and even Norman pointed this out last summer.

STF said...

G-heim . . . well said

Also, Schiff's paradigm necessarily forced him to not understand how/why there would be a run up in Tsy prices.

There were many on both sides of predicting how bad the housing/mortgage crisis would be. The real issue is how to design a financial system that isn't as prone to these events, which is related to Mike's discussion of the "free market fascists."