28 September 2008

Crisis predicted... and the prediction laughed at

At the top is the graph of new home sales (and home inventory) in the U.S., which, along with the Iraq war expenditures, is one of the factors which drove this country into the current crisis.

On the bottom is a four-minute video from Fox news in December 2006 (note date in relation to chart above) during which Peter Schiff predicts a problem from falling home sales. The five panelists from Fox not only disagree, they ridicule him and laugh in his face.

Peter Schiff was one of Ron Paul's economic advisers.

Thanks, J-Walk, for posting this.

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