Wall Street / Economic Predictions
| Source & Date
| Accuracy
| Comments
|
US economy is not strong and housing market will crash and we will have high unemployment | December 16, 2006
Fox News DebateAgain on
August 8, 2007
Fox News | True | Uncannily AccurateIt is worth noting that Peter Schiff was ridiculed by experts and he showed great courage. We do not believe it was a lucky guess. He did see signs that others missed. The video shows how right he was and how wrong the other so called "experts" are.
To his credit most economists and experts ignored the signs until the markets crashed in summer of 2008.
Two experts who warned about the economic crisis before Peter Schiff are
Dean Baker'swarning in July 21, 2005
Med Jones' (US Economic Risks June, 2, 2006).
More detailed predictions can be found at:
|
Interest rates will go higher and inflation will go higher | December 16, 2006
Fox News Debate | False | Although he is right on his data of saving and mortgage he was off in his timing. Interested rate went lower in 2007, 2008, 2009 and there was deflation. Eventually we had inflation in late 2011. So he seem to be right on the trend wrong on the timing with 2-4 years. |
Inflation in 2008 and 2009 | | False | Deflation in 2008 & 2009 |
At a minimum, the dollar will lose another 40 to 50 percent of its value in 2010 | January 26, 2009
Source US News | False | 12 Ways Schiff Was Wrong in 2008
Wrong about hyperinflation
Wrong about the dollar
Wrong about commodities except for gold
Wrong about foreign currencies except for the Yen
Wrong about foreign equities
Wrong in timing
Wrong in risk management
Wrong in buy and hold thesis
Wrong on decoupling
Wrong on China
Wrong on US treasuries
Wrong on interest rates, both foreign and domesticSource US News |
US dollars will go all the way to zero and gold will go at least $5,000 an ounce. | Sep 9, 2009
Daily Finance | False | |
US Equity Markets Will Crash | | True | |
US Dollar Will Go To Zero (Hyperinflation) like Zimbabwe | | False | Dollar value declined, but no were close to to the expectation and Hyperinflation did not occur. If you invested based on this theory you would have lost a lot of moneySource: Mike Shedlock. Response to Mish's Criticism by Peter Schiff |
Buy foreign equities and commodities and hold them with no exit strategy. | | False | Foreign equities sold off much harder than US equities, and US dollar did not decline as much.
Peter Schiff Investment did that and they are down 40% |
We Probably Won't Make It To 2012 | Aug 26, 2010
Video
To be determined | To be determined | |
US markets will crash like dominos so many things are bound to happen in 2011 The dollar will collapse and we will see a greater economic disaster | Dec 31, 2010
CNBC | To be determined | |
When the dollar stops rallying it is going to fall like a stone | Jan 12, 2010
CNBC
| False | If investors shorted the dollar they would have lost |
Buy commodities | Jan 12, 2010
CNBC | True | Commodities were up. If investors bought commodities they would have won |
Buy Gold | Jan 12, 2010
CNBC | True | |
US Economy will only get worse | Jan 12, 2010
CNBC | False | In the video, he argues semantics. The fact is the US economy recovered in 2010 and added Jobs in 2011. |
Foreign stock, gold and commodities to outperform US stocks | Jan 12, 2010
CNBC | True | |
US stock are heading a lot lower in 2009, 2010 and 2011 as well | Jan 02, 2009
Bloomberg | False | Stocks recovered during 2009 and 2010. |
Schiff predicts Nasdaq 500 and Dow 4000 | 2002
Video | False | The S&P (.INX) went from 1054 in May of 2002 (the date of the interview) to 1561 in Oct. 2007, a 48% gain and the Dow (.DJI) rose 40%. - Source:
Todd Sullivan Seeking Alpha. "had you listened to Peter in 2002, 2003, 2004, 2005, 2006 or even 3/4 of 2007, you lost your shirt. Had you placed bets based on Schiff's market calls, you lost everything you wagered." |