Thursday, May 15, 2014

Deja Vu 7 Years Later: Peter Schiff Rebuts Roubini's Arguments Again

Back in 2007 Peter Schiff was a relative unknown in the financial world. He had a radio show called "Wall Street Unspun," which he conducted every Wednesday evening. The show consisted of Peter providing a 20 minute introduction with his thoughts on what was taking place in the financial markets and then he would open up the remaining portion of the show to phone calls from anyone who wanted to call in and talk.

Back in 2007 there were many nights when the phone lines were wide open because no one was calling, so I would call in and talk to him about financial topics. Yes, I understand how much of a nerd this makes me, but you have to understand that at the time I really had no one to talk to about the markets. I was on the front lines of the real estate market so my peers certainly did not want to hear about debt markets collapsing.

One of the nights I was speaking with Peter I walked through the deflationary arguments that were being presented by Nouriel Roubini, playing devil's advocate to Peter's view of the future.

Fast forward 7 years later and that same argument is being conducted on the main stage of the CNBC floor, seen in the video below.

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