peter schiff says americas economy is about to go out of the world top 20 economies when the economic meltdown is all said and done, and mr schiff has a perfect record of economic predictions! first there will be a collapse, then a severe inflationary depression!

He's probably right and it will be felt by every country.

I firmly believe we're headed for another "great depression" in America. Bread lines, suicides, increase in crime, etc. We're the biggest debtor nation in the world and if countries like China call in the debts we owe them we'd break like a, pardon the expression, china doll.Whoever becomes our next president will get the blame for this, unfortunately, even though the roots of the cause go back to the previous 8+ years of government.

No, I don't believe so,but things are a little dicey right now. It's best to not panic but just keep track of your investments and savings.

That's what happens when liberals run the show.

Wait, I thought we just gave our lenders a 700 billion dollar bailout so this would not occur!

Peter Schiff is an idiot. The US markets outperformed all but one last month. As bad as it is, no other market can even come close. Schiff is a snake oil salesman and a scam artist. Perfect predictions in his own mind. Even a stopped clock is right twice per day, and if you spend your whole life predicting decline, sooner or later you're going to be right for a little while. In the mean time the fool sat out during the bull markets. That isn't a prophet, that is a fool.

Sounds about right, I'm afraid. If you have a few extra dollars on hand, now would be a good time to stock up on foods stores. The bailout will cause hyper-inflation and that problem could see people starving to death in the United States of America.

Peter Schiff always hits the nail on the head. Don't you just hate it when people call him an idiot, yet, he's always right?He has predicted many things that came up right, since he is a free market economist, he knows the real percentages of inflation, hyper-inflation, and the banks that could fall next. He is a true genius, unlike the rest of the central economic planners.

if major corporations and companies that invested for so long in highly risky portfolio objects, then, upon loss of revenue due to a collapse of them, they should have been allowed to go belly up, to go bankrupt, just like i'd have to bankrupt my corporation if i allowed myself, its CEO, to get so greedy as to trick my shareholders. when a company fails, there are dues to pay, same as when you slack off on your job: you get fired. you no longer get income from your job. you cannot pay your creditors. you sell what you can to pay those that you can until there comes a point that all that you have left is what no one wishes to buy. and then, if there is nowhere to get more money, you must file bankruptcy. our lawmakers including george w bush acted too hastily in this bailout, which will have very long and far reaching consequences. none of the companies bailed out so very easily by congress said that they would look at plans to change their policies in order never to ask for a taxpayer's bailout ever again, and they did not promise a way to make good the worthless investment instruments that they fostered off to uncle sam. think of a piece of vacant land out in the country. you see that it has a legitimate use, so you buy it, to develop it to make money. it is your making money and all those that you hire: the subcontractors, the surveyors, the deal makers and closers of all sorts that you help earn wages by your buying that piece of land to even ready it for a dig, for the digging of even the utility lines. can you imagine the number of people that you will employ just in doing that? can you imagine what others you will employ for the materials it takes to do only that? now take yourself past your purchase and all that it takes to upgrade the zoning (another group of "employees" that you put, or the banks put, into place, or that the developers put in place to help you. look at the entire picture from you buying that piece of vacant land up through its final improvements to become a more taxable piece of real estate (another "body" of "employees" in that the taxpayers pay taxes on improved real estate that is supposed to fairly filter down to the people that pay them). go all the way with this concept. eventually it gets down to developers hiring independent contracting real estate brokers and their agents to sell the improvements and for them to be conveyed by deed to the purchasers. and so, you have, hopefully, been smart enough with your money all the way through so that you end up making a hefty profit that you will use the major portion of to pay off the banks that funded you to begin with, or else, the "other" people's money (OPM) investors. and then you are left with, we hope, money to feed, clothe, house, educate and medicate the members of your family, yes? and so on, since even that outlay of cash suppports those that provide such services and goods. do you know, as i know and have published based on material facts that i obtained from the best statiticians, the us census bureau, that everything that has just been done from your initial outlay of cash up to sale represents:almost a full ONE-THIRD of our gross domestic product? (GDP)okay, so then, since our people cannot keep up their payments on their houses thanks to the governments far in the past proposing that no one deserved to be without their own home (or whatever real estate...except commercial investments in this case) because of a slump in real estate sales, that this one fact--the fact that the price of the houses is so high that they cannot be sold--sets off a domino effect within the economy (all the materials providers and laborers that made money, a living, from the development aforementioned) that those providers are going to take a big, huge fall and will then go out of business? that means that their money will not be passed into the rest of the economy, because there is no disposable income. and so on, affecting our entire economy. i knew that a Depression was about to come around 10 years ago, being that i am qualified to watch the elements mentioned above and what they do and how they acted in the past. one asks, then, well, since the banks (whose only business it is is to make money and nothing else so that it can be lent at interest, making more money for the bank and all its employees) have become so insolvent that they must seek out, in essence, the money of the taxpayers already overburdened by taxes, in order to take them out of the murky depths that they themselves chose to swim in by means of their greed and the dishonesty that they used to roll around for a short time in the dough, THEN what is the next step? the only logical next step is that some entity, for instance, the federal reserve board, prints up more dollars and extends, once again, more credit (oh, but so much!), so that we have the false illusion of money changing hands such as the above mentio