Sunday, December 14, 2008

Let Us Now Praise Peter Schiff

You know this guy - he's appeared on the Stock Channel regularly in the past few years. All during the boomtime, he was slouching toward Armageddon.

There were a few others - Kass, Roubini, Gary Shilling - who saw the trouble coming, but Schiff was different. His smooth demeanor never flickered. The shape of his little smile never moved a fraction of a degree from its designated arc. He did not respond to logic that was outside his syllogism.

Now, he's right as rain. And now, when Kass and the rest are beginning to look at the next turn in the road, Schiff continues to peer into the abyss.

I looked him up and found that his father was Irwin Schiff, the famous tax protester. That explains everything.

Woody Allen had a problem with authority. I have a problem with impenetrable minds. I shouldn't let Peter Schiff get to me.

We shouldn't be encouraging him. In the fulness of time, we'll see that, even when he was right, he was wrong.

I know it's Sunday. I'm sorry.

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