Thursday, February 19, 2009

The crisis. The growing unpopularity of pundits on TV and a popular video with Peter Schiff

While many people still have a fresh memory of the
many wrong predictions on TV, the same awful pundits
now recession experts, the video with Peter Schiff seems
to come in handy. Simply being a re-run of three news-
shows in 06 / 07 with awfully wrong predictions, it helps
to restore the memory and meeting a certain need of
criticism at the same time.
By now it obviously gets popular with people otherwise
not interested in stock markets and things like that, often
people who have figured out problems in good time and
who just want to see their suspicions confirmed.

If somebody had the means and would care to put together
viral videos of financial news shows here in Europe, the
results would be pretty much the same. What was said
and predicted by the money experts, bankers and pundits
in 06 / 07 was not different at all.

Here it is again (it is the second posting of it on this blog):
Peter Schiff was right

and, fitting to that (also a repost): where comedian Bill Maher
asks much later on Art Laffer, one of the guys making those
really wrong predictions, about the one cent bet with Peter
Schiff. For a laugh:
Bill Maher questioning Art Laffer

In case of interest, and not if fully informed about the matter:
the media are finding themselves increasingly in a crisis, have
problems to make ends meet. There are lots of complaints to
be heard from their side about decling ad revenue, for instance.
And somehow they seem to have lost some favour with the
general public.

May 7: (update) coming soon on this blog:

bookreviews and author introduction:
two finance / money historians:

Charles R. Geisst, auhtor of a several books, including the
History of Wall Street, and his book "Undue Influence",
80 years of Wall Street lobbying ( very hot topic right now,
righfully so)
for a first glimpse:
Undue Influence

Niall Ferguson, author or a couple of books,
here for a first glimpse (if unknow)a visit to his site:
Niall Ferguson

Peter Schiff was guest in The Daily Show / Comedy Central
with Jon Stewart. Here's a clip, not the best quality but the
only available right now.
Peter Schiff guest of Jon Stewart