"This book truly
is a must read."
-- Congressman Ron Paul
PETER SCHIFF VS THE PERMA BULLS- FROM 2006
This is so typical of "financial experts" in the nation's financial press as they literally laugh hysterically at the Cassandra, Peter Schiff, who suggests that the excessive amounts of credit in play will be destabilizing. This is from Fox, but could be from CNBC or Bloomberg.
Schiff: "[Individual] net worth is at an all time high because of the phony real estate value. When housing prices come back down the net worth is gone but the mortgages are still there." Guffaws and chuckles all around.
