Peter Schiff Mortgage Bankers Speech Nov/13/06
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 …
Related posts:
- The dollar carry trade, my mortgage bankers presentation also check me out on facebook.com and twitter.com...
- Nov 2006 Peter Schiff Mortgage Bankers Speech Part 1 of 8 In 2006 Peter Schiff tells over 1000 mortgage brokers they...
- Nov 2006 Peter Schiff Mortgage Bankers Speech Part 8 of 8 In 2006 Peter Schiff tells over 1000 mortgage brokers they...
- Nov 2006 Peter Schiff Mortgage Bankers Speech Part 2 of 8 In 2006 Peter Schiff tells over 1000 mortgage brokers they...
- Nov 2006 Peter Schiff Mortgage Bankers Speech Part 4 of 8 In 2006 Peter Schiff tells over 1000 mortgage brokers they...
- Nov 2006 Peter Schiff Mortgage Bankers Speech Part 6 of 8 In 2006 Peter Schiff tells over 1000 mortgage brokers they...
- Nov 2006 Peter Schiff Mortgage Bankers Speech Part 7 of 8 In 2006 Peter Schiff tells over 1000 mortgage brokers they...
The only thing I somewhat disagree with is the “America consumes, China produces” generalization, because it misses the important point that much of what’s made elsewhere is DESIGNED here. From computers to instruments, we certainly have the edge in research, engineering, innovation. That’s the key to production. So I think a better analogy would’ve been to say that the American on the desert island designed the tools the Chinese used to hunt, fish, farm, etc.
Nevertheless, I’d love to see more production right here. I still think we make some of the best stuff on earth, and I–and I’m sure many–gladly pay more for higher quality, longer lasting Made-in-the-USA goods.
Production technology is transitory. The worlds financial centers follow the worlds savers. It is a slow yet inevitable process.
The west still educates more scientists, engineers and managers, but the trend is more important and it is not in our favor. The US still has the worlds largest manufacturing capacity, but the trend is more important and not in our favor.
The world is shifting. American exceptionalism has run its course. We are destroying free enterprise and embracing fascism.
Monkeyman,
Banker pay did not cause the financial crisis. It is obvious to myself and any non-idiot that Burger King manager pay caused the financial crisis. If Burger King payed their managers less, they could bring back $1 Whoppers and everybody would have more money to spend and invest. My current monthly Whopper expense is approaching $700. How ridiculous is that!? We should force our government to create a Bureau of Burger King Manager Pay to regulate the problem away. Go Obama!!
the clown at the end of the clip said that oil would go down from 70 dollars, a year later oil hit 140 dollars a barrel…
Not the total amount was the problem. The disproportional high commission for high risk business in relation to their basic salary was the problem.
If the Burger King manager earns $10 plus a $0.01 commission an a hamburger plus a $0.90 commission on the “Most Likely Not Contaminated Burger”. What burger does he sell?
“To suggest that Peter was talking up his book is a typical ad hominem attack that is the last refuge of the weak minded.”
With 99% of the financial advisers this ‘attack’ is justified. Mr. Schiff is probably the exception that proves the rule. If you don’t know that it is thoughtful reasoning.
do you really think that’s true?
a lot of innovative companies came out of america. but those companies don’t go international with their production and do their engineering in the US.
AMD e.g. has a huge engineering center in germany. we’re talking countries here, so it doesn’t really matter if AMD is a US company or not. it may have all their added value out of the country, and may even be owned mostly by foreginers.
Harry Reid plans to sneak a mystery health care bill through Congress and the President, no debate, no public scrutiny. The most reprehensible aspect of Reids expected move, the bill will be written in some back room in the Capitol, no one will know whats in it until it becomes the law of the land. It will be a trillion-dollar experiment with drastic cuts in Medicare, massive tax increases, more ways for the government to make your personal health care decisions for you.
is there any new video of dr. “asmis” admitting that Schiff was correct?
hell, i am a home inspector and i could see that prices were crazy. i knew a correction was coming but did not realize how bad it would be. i inspected one building which was a tear down (beyond repair). the bank appraised it for $100k.
in Detroit, i saw neighborhoods going downhill but strangely, prices kept going up! loaning money to people who can’t pay it back defies common sense.
When you give a country a fish, you feed them for a day. When you give a country all your machinery, knowledge and workforce, that country will eventually realize they don’t need you… and destroy you.
there is no way that you describe with such PRECISION what will happen in the future like P Schiff did in this speech. It is scary that virtually one person who knows wtf is goin on gets ZERO press in the major news networks. The whole country is bought and paid for by liars and crooked politicians. This speech was not generalizations, it was dead on perfection, step by step with amazing confidence of his own intellect of economics and finance. Prescient is a fitting adjective.
The only good american product i own are two cannondale bikes. But their price really hurt. But the new generation of carbon based frames is also made in asia.
If it goes really bad we will have no clothes and schoes but only cars and atomic waste to put on our naked body.
And maybe some cruise missile and drones in the backyard.
Peter Schiff is running as a Republican against the corrupt Chris Dodd in Connecticutt. It is time to have more new congresspersons who know economics, accounting, investments, finance, and the capitalist system RATHER THAN the big govt-demonrats-nobamanoids who know nothing at all, except wealth transfer from the goose that lays the golden eggs to the no good demonrat bums…
If Americans fail to sweep out Congress in 2010, the country will see widespread bloodshed, cities burned and the end of the future hoped for for their children.
Nothing is deadlier that a politician. The power to take and limit is the power to destroy humanity.
Please see THE PHILOSOPHY OF LIBERTY, and also HOW GOVERNMENT GROWS, here on YouTube. Pass them around to friends and family.
Only the truth will save us now, to avert horrific violence and destruction.
The guy on right was our special guest speaker @ our Sales Rally( AccuBanc) National city in Ashburn VA 2005. Of yeah we out of business too. Maybe Schiff should have been the Special guest speaker.
All hail Peter Schiff
Huh. It looks like the viewership curve levels off at about 41,000 and then inches up logarithmically. Fail. Lets try to get this video over 100,000!!! a new bull market in this video!!!
America will not be destroyed by foreign enemies, it will be destroyed from the inside out.
Goodbye my sweet America. Thankyou for giving me atleast my first few years of freedom, I now have something to aspire to fix 4 the rest of my life and my kids life’s.
It’s pretty amazing how analytical Peter Schiff is in detail, even the big picture.. That’s the difference between Austrian Economics, and mainstream economics which use meaningless studies, and statistics such as GDP that really have no correlation to the real state of the economy just like Barry’s dumb human population, and housing growth projection BS. Schiff actually looked at the root causes of the boom, and bust. The causal effect is what Austrians are very interested in.
America as the only world consumer cannot work. One needs money to consume, yet all the work is outsourced.
It’s like that Wild E. Coyote walking off a cliff yet unknowingly still walks until he sees he’s walked of the cliff. Then comes that classic scene of ol’ Wild E. falling with a dusty smack at the end.
He’s always up and running by the next episode though…. consuming Acme goods…
thanks for the many vids!
The bomb has landed.
VOTE PETER SCHIFF if you live in CT.
Peter was able to predict the current mess, not because his is a prophet, Nostradamus, or simply got lucky. He understands true economic theory (Austrian business cycle theory).
Best of luck Peter in your senate race!
34:40