Funny, If It Wasn’t So Sad

Sev­er­al years ago, I had lunch with the for­mer head of a large invest­ment bank who talked about how Wall Street had a built-in bull­ish bias, and any­one who goes against the grain, does so at their own per­il. Below you’ll find a good exam­ple of that. Here we have Peter Schiff, head of Euro Pacif­ic Cap­i­tal, sound­ing the alarms repeat­ed­ly on Fox “News” in 2006-07, mak­ing pre­dic­tions that turned out to be remark­ably right, and watch the scorn that gets heaped on him. Imag­ine if the grown ups had both­ered to mind the store dur­ing the past decade, to see some of the obvi­ous prob­lems mount­ing. We might all be breath­ing a bit more eas­i­ly today.

via The Dai­ly Dish

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Open Culture was founded by Dan Colman.