The only thing you want to take away from this condescending Time magazine “piece” about libertarian financial analyst Peter Schiff’s prognostications is this:
“over longer periods, Schiff’s decade-old strategy of steering clients out of U.S. securities and into commodities and overseas stocks has been a big winner. His investment record surely can’t be the reason for his fall from media grace.”
Much to the consternation of the Times “writer,” the reason Schiff “hasn’t changed his tune” on the imperative of escaping the phony US economy is because the tune is in the right key!.
Justin Fox’s column is so pointless, so full of non sequiturs. This guys doesn’t even attempt to make sense, and I imagine he gets a bundle for the epistolary offal he produces.
I mean, on the one hand, Fox concedes that Schiff’s investments have proven prudent. But on the other hand, he insists that Schiff got to bask only briefly “in the glory of his spectacular call,” because he has fallen out of grace with the menagerie of morons on mainstream media.
As though you “bask in the glory of [your] spectacular call” only so long as you’re invited on the Keynesian “Kudlow and Cretins” show. Perhaps saving your clients a bundle and safeguarding your own assets is enough to make an honest man “bask.”