Peter Schiff explains how the current administration caused the economic recession, page 1

This is one of the best and most enlightening perspectives on economics I have seen. Peter Schiff is an economic proponent of the Austrian school, in standard terms he's a libertarian and fiscal conservative. He was chosen as economic adviser for Ron Paul's Presidential campaign in 2008.

Here's the first part out of eight:
www.youtube.com...

The essentials of his argument are that George Bush used Alan Greenspan and Ben Bernanke (successive Federal Reserve chairmen) to stiff off an economic recession that loomed before the 2004 election that would have cost him the White House. This will result in an even worse recession we are now entering.

He gave this speech in 2006 before the mortgage market collapsed and banks began failing. Schiff effectively predicted the 2-year future of the US economy, and has words about what still remains to be seen.

reply to post by Equinox99

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Did you watch the video? If not, you really should. Schiff doesn't blame only the administration; in fact, he blames the very people he is addressing (mortgage brokers) right along with lenders, appraisers, borrowers, and the administration.

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