Peter Schiff forecasts a depression

Quote from jficquette:

We are already in a depression. We just don't realize it because of the trillions in stimulus.
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When we realize that we are in a depression, then comes the zillion dollar stimulus.
 
It is therefore not a question of unsound forecasting but of unsound economics. Under the influence of Irving Fisher virtually the whole of the American economics profession had fallen prey, and still has, to the fallacy that a stable price level means there is no inflation. (Sir Ralph Hawtrey was one of the guiding lights of this fallacy in England). Unfortunately the same situation prevails in Australia. The Austrians, however, explained in detail how trying to stabilise the price level will actually destabilise the economy and bring on the very depression the policy was designed to avoid.
 
Quote from Eight:

I have my own theories about weather and economic cycles. I had the Amateur Radio hobby for decades, radio propagation is dependent on sunspot cycles, I was aware of them since the 1950's... the economic cycles follow the sunspot cycles because the solar activity generates negative ions in the atmosphere and those affect people's mood.. more ions = feeling of wellbeing and economic expansion... so currently the pessimism is very high but the sunspot cycle started up last year after an extended low... the world's economy COULD get going again for no reason that the economists or pundits will ever understand... I sort of don't care if it does or not, I can garden and I can hedge...
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Eight, I'm interested in your theory on Sunspot cycles. I did a bit of reading on this and I was of the understanding that we saw an increase in sunspot activity around 2008 when the crash occured. And this year we are getting some pretty severe activity also. So I think the theory is that low sunspot activity is good for the market and high activity is bad for the market.

I agree that negative ions do make people feel better, but sunspot activity is generally associated with dangerous events such as technology failure and burst pipelines.
 
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