re: Peter Schiff on the US of Squanderville

Unless Japan for the last 20 years has been an economic aberration (not!), I think that all of the people in this video–with the exception, of course, of Peter Schiff–are incorrect about being bullish long-term on the stock market. Japan went from a Nikkei of 39,000 in 1989 to around 8,000 today. That’s a “long-term” similar to our NYSE 1929 high of 300 which didn’t return to that level for 25 years (1954)–and Japan isn’t even close to recovering yet. So long as the U.S. Gunvernment continues to implement all of the inflationary/boondoggle spending polices they are currently doing and/or planning, this country will be in a very long-term slump until real (i.e., Austrian) economics is allowed to take hold. Peter is the only one who is bullish in the “long-term” only if our current gunverment-created crisis is allowed to run its natural liquidation/clearing-the-market course–rather than Obamanable & Co. making it even worse.

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6:27 pm on March 10, 2009