Monday, December 1, 2008

We're all Austrians now

Peter Schiff, Ron Paul's economic advisor, was ridiculed in 2006-2007 for his predictions of a recession and massive decline in stock values by a financial media which is mostly filled with followers of the Keynesian school of economics who tout the current model of central banking control of the economy. Now that his predictions of a massive bust have borne true, the financial media and its Keynesian acolytes have been forced to bow down to the wisdom of the Austrian economic philosophy.

Peter Schiff Was Right 2006 - 2007

Here is Schiff again, in November 2008, being treated with the veneration that his prescience has earned him:

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