Dr. Doom educates Congress
Posted by Richard on September 20, 2011
Peter Schiff (a.k.a. Dr. Doom), who predicted the sub-prime mortgage crisis and the collapse of the housing bubble and auto industry, has wrapped up his testimony before the House Subcommittee on Government Reform and Stimulus Oversight. I strongly urge you to watch this 22-minute video of some of the highlights of his testimony last week. If you’re familiar with Austrian economics or Frederic Bastiat, some of what he says may ring a bell.
Schiff is the CEO of Euro Pacific Capital and the son of famed tax protestor Irwin Schiff. He has a blog* and an internet radio show, and is a frequent guest on cable news shows. I really like this Schiff quote, which channels Bastiat:
You can always see the jobs that government creates. What you don’t see are the jobs that they destroy.
Ryan Swift has a nice post about Schiff’s testimony, along with a couple of alternative video excerpts of his testimony (there’s a fair amount of overlap with the video above, which I found at Zero Hedge).
There’s a compelling 5-minute reason.tv interview with Schiff here.
* This post originally linked to an unofficial blog that’s not Peter Schiff’s. Thanks to Anthony Nelson of SchiffGold.com, I’ve corrected the link so that it points to Peter Schiff’s actual blog.
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