For years I watched Peter Schiff appearing on the MSM, being ridiculed by the clowns who shot him down because he was just some gloomy guy who had a bummer outlook (a nasty “contrarian”) and wanted to throw a dash of stodgy common sense into the Bubblemania machine that was gripping America. Time after time he was shot down by incompetent, uneducated, follow-thy-masses boob commentators and fellow analysts on FOX, CNBC, and elsewhere.

Schiff does not have ESP. He is not a forecaster throwing darts at a target. He is not some guy with a gift of unexplained perception. He is a discerning guy who understands basic economics and finance, and applies his education to his livelihood and sticks to his principles, in spite of the direction the mainstream tide is turning. I chuckle when I watch some of the old Schiff appearances, such as this one on FOX from December 2006.