This video has been making the rounds, and if you haven’t seen it yet, watch it now. It’s basically a series of TV panel discussions from 2006 and 2007 in which Peter Schiff explains why the economy is about to tank, while others mock him relentlessly.
This is what Schiff told Maclean’s back in October 2007.
“What we’ve done as a society is borrowed a tremendous amount of money. Now the bills are coming due and we don’t have any money to pay it back. We’re screwed. It’s not just going to be a mild recession. It’ll be the worst one we’ve ever had.”