Peter Schiff on Housing
* People are surprised by recent bad news in the housing market, but they’ve got much further to fall. It’s government stimulus propping up prices.
* Renting vs. owning.
* Dollar made low against Yen. Would have fallen further if Japan’s central bank didn’t make easing announcement. This drove up precious metals.
* WSJ article about Peter Schiff portrays him as charlatan, ignores his accurate predictions: worst recession since Great Depression, over 10% unemployment, housing bubble would burst, 30% drop in real estate prices, Fannie and Freddie would go bankrupt, many leading banks would fail, government would bail them out, 1-2 trillion dollar a year deficits.
* Bernanke reiterates commitment to inflation. Gold and silver responds.
* Deflation fears misplaced.
* Some economists (Roubini) are now increasing their prediction of a recession. Duh.
* Gold stocks & the WSJ interviewer’s interest in Peter’s crib
