EDITOR'S COMMENT:

Be sure to watch the video in the upper left hand column of this website. Thanks to Bruce Fraser.

--- David Sunfellow

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'CRISIS ONLY JUST BEGINNING':
RIGHT ABOUT THE CRASH, PETER SCHIFF SEES MORE PAIN AHEAD
Yahoo! Finance
November 24, 2008

Original Link

There's a popular YouTube clip called "Peter Schiff Was Right" (see below for link) that shows the president of Euro Pacific Capital engaged in on-air debates with financial luminaries such as Art Laffer and Ben Stein, circa 2006-07.

The clips show the wisdom of Schiff's dire forecasts -- and, judging from the dismissive reactions, just how far he was outside the mainstream.

Ben Stein publicly apologized to Schiff in a New York Times column, but Laffer refuses to admit defeat, recently telling Bill Maher his economic forecasts have a statute of limitations of just nine months.

To his credit, Schiff isn't declaring victory, noting "100% of my forecast hasn't panned out," most notably "a major collapse in the dollar" that leads to a spike commodity prices.

As discussed in the accompanying video, Schiff believes the recent dollar rally and commodity price weakness will prove temporary. Most troubling, he says the "economic crisis is only just beginning."