My Mortgage Bankers Speech from Nov 13th 2006 is now in one video clip. I gave this presentation at the the Western Regional Mortgage Bankers Conference in Las Vegas. There were over 2000 mortgage bankers in attendance. I also made similar comments when I addressed this conference a year earlier in 2005 at the height of the real estate bubble. For those people who said no one saw it coming, this presentation is a real eye opener. Let’s see if we can get this clip to go viral. Thanks to a youtuber called “csabasand” here is a full transcript: www.csaba.se also check me out on www.facebook.com and twitter.com
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I hope Peter’s presentation of Austrian economics makes it easy for people to apply it to their own day-to-day lives and work. We have to fix it from the government end (raising interest rates, shrinking gov, etc) and from the personal end (tightening our wads, saving, building real productive and desirable skills, and getting off the consumption rollercoaster).
@myfletcher – hope your inability to keep up with the sub prime buyers helped you invest elsewhere. Thanks for your input.
01:06:05 Woooooooooooooow. It hurts seeing someone fall on their face that hard! Peter pwns
its amazing to see the resistance to peters advice, and i see the same today when hes on cnbs etc, people wont support what they dont want to hear…
get rid of affirmative action banking and reinstitute sound policy regulation
What part of this do Americans not understand? What part of what Peter is saying is so beyond comprehension?
And yet, politicians continue to prop up residential housing prices and voters continue to encourage them.
So is the establishment just set up to keep guys like Schiff from fixing things or offering their council?
I guess it’s true that the really good politicians, aren’t politicians.
At 39:30 he talks about sub prime borrowers deterining pricing on houses. That alone is so profoundly true.
I have been buying REOs for 20+ years. Back in the day, you had to have CASH to buy a lot of these bank owned homes. We paid cash and got a discount for it. When they started financing these deals the prices went through the roof. We cash buyers got priced out of the mkt by the idiots with sub prime morts.
Did this guy have a crystal ball or what????
economics is a science that tries to rationalizing fraud.
Fortunately, Peter makes Austrian macro economics very easy to understand.
You wouldn’t have listened. To truly understand Peter, you must understand Austrian macro economics.
Hey Barry,
You should apply for a job at Euro pacific “whatever” lol… Peter might let you get him coffee.
Barry doesn’t seem so eager to have another debate with Schiff anymore. Gee I wonder why.
omg 37:00 only if i heard these words 3 yrs ago…
I guess Peter and Barry never did get back together for another ‘speech’ in later years, eh? Too bad, I’d love to see Barry deal with the egg on his face.
What kills me is how all those so called economists who were so wrong and who laughed at Peter while he was so right, are still to this day the ones everyone is listening to, and they still besmirch Peter.
just watched a video of Mike Norman…. ROFL…but at the same time I felt sorry for him, cause it looks like M.Norman is losing it and probably out of job…
crazy, i wish i would have watched this video in 2006.
Really a fantastic video, these kind of people need to be running our government, Schiff for Senate 2010!
Hey Barry how do those words taste now?
He’s ahead of him in the latest polls. How does the election work there? He’s with the republicians, correct? How many seats are available?
Simple Simon. I hope my Taoiseach gets this and bothers his fat arse to look up Peter Schiff
this is one of the funniest things I’ve seen in a long time. I almost get the sense that some of the people in that room were mocking Peter; just a little. So did they end up having a reunion this year like the good Dr suggested?
Spot on!
The FED is NOT dumb, they are very very clever and calculating. Everything is done for a purpose by them and they intend to crash the currency and then replace it. They work for the small group that run the country and half the world- yes the Rockefellers and Rothschilds. It’s not even about money, so much as it is world power and control
Man is Peter right on here………
This should be shown on TV just before the next presidential debates in 2012..
…..or you should be required to watch this and take a test on it before you are allowed to vote…………