The Heroic Peter Schiff

Saturday, October 27, 2007
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Here’s a spot from FOX News from about a year ago. Some crank real estate talking head from REMAX is asked “Where will housing prices be in 2007?” His answer? Prices can only go up. Then listen to his attempt at economic analysis, which is truly embarrassing. Meanwhile, Peter Schiff, in one of his many sensible moments, notes that housing has been bid up to artificial prices due to artificial interest rates and, accordingly, there happened an absence of any lending standards. He goes on to make a rational call of the short-term future of housing (which happened immediately thereafter, of course).

Then Mike Norman chimes in with, “What artificial lending standards are you talking about?” Schiff was ridiculed by the other two bozos throughout the entire spot.

I’ve always liked Schiff. In spite of his oftentimes wrong-headed notions on some things economic, Schiff is also quite often brilliant in kicking down the bullish, financial socialists of Wall Street. He is the son of tax protestor Irwin Schiff. See his enthusiastic endorsement of Ron Paul here.

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