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The Real Crash: America's Coming Bankruptcy

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 2,000 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.

Thanks to a YouTuber called "csabasand" here is a full transcript: http://www.csaba.se/2009/09/26/peter-...

What Obama Should Really Do To Spur Job Growth - Forbes, 9/13/2011

Peter Schiff On Obamanomics: "There Are Not Enough Open Minds In The Capitol To Keep This Ship From Sinking" - Zero Hedge - 09/19/2011

Peter Schiff, other members of the ‘1%,’ confront Occupy Wall Street, Washington Post - October 28, 2011

The Washington Examiner, September 6, 2012

This time, Schiff, a former Republican senate candidate in the state of Connecticut, traveled to the Democratic National Convention in Charlotte, North Carolina and went undercover. His disguise was an “anti-business crusader” and a person wanting to ban or place a cap on corporate profits. As he iterated this stance, he wanted to see how many people supported this move, which was actually quite a few.

The video titled "Democrats: Let's Ban Profits!" starts off with Schiff attempting to speak with Anthony Van Jones, but he claimed he didn’t have any time to speak with the bestselling author of “Crash Proof” and “The Real Crash.” It continued onto Schiff standing inside the DNC where he noted that there weren’t a lot of people, “maybe they’re all out looking for work. Actually, wait a minute, this is the Democratic Convention, they don’t want to work.”

Forbes Magazine, Dave Serchuk, Contributor 12/28/2011

Economist Arthur Laffer has had a long, distinguished career. Unfortunately one of the things that has distinguished it is that he has often been extremely wrong.

That’s why, in a new feature for this blog, I have Revoked Art Laffer’s Pundit License. ™

This means that everyone who reads this blog will understand that Laffer has been quite wrong about many things, and continues to appear on TV as if he had been right. Well, something has happened Mr. Laffer: you were caught being wrong. Now it’s time to ‘fess up if you want your Pundit License reinstated. Until it is reinstated you are strongly advised to not make grand, sweeping proclamations about the economy, or America’s political scene. The credibility you save might just be your own.

I will periodically revive this feature whenever I see pundits being completely wrong in public over long, extended periods of time, and suffering few if any repercussions.

Laffer is best known for his eponymously-named Laffer Curve, and made the case that lowering income taxes for the wealthy will generally create more revenue. This helped gain him entry into the Reagan White House, where he helped shape the idea known as “trickle-down economics.” The takeaway is that as you lower taxes on the wealthy they reinvest their cash back into the economy in infinite ways, enriching everyone. In this light the idea is that lower income taxes for the highest earner actually lead to more tax revenue for the federal government, in the end.

This video, originally posted in 2008 by an unknown individual, was viewed over 2 million times before being removed from YouTube in late 2013. I decided to post a copy so that those searching for the original video will at least be able to view this copy. However, I doubt it will receive the 2 million plus views garnered by the original. In addition, its worth remembering just how clueless everyone was about the artificial nature of the prior recovery an...