Anybody watch new joe Rogan episode with Peter Schiff?

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sjl333
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Anybody watch new joe Rogan episode with Peter Schiff?

Post by sjl333 »

Just listened to the new JRE podcast with Peter Schiff .

He's major gloom and doom and thinks there will be a big crash in the future due to the government printing money like crazy.

Thoughts ?
justglassin
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by justglassin »

Got through about an hour of it. Longtime Rogan listener and this was one of the more painful episodes I can remember. Essentially a rehash of his (Schiff's) one-string guitar harping on and on about debt and inflation and how if he were president he'd had let everything collapse, how taxation is theft, etc.

I actually liked his interview with Joe in 2017 much more, likely due to it being in-person vs this awkward Skype connection where they stepped on one another for three hours.

That being said, I'd welcome anyone's views on Schiff's doom and gloom. He's been saying that for the past decade (and he is a gold monger). I'll be the first to admit I found some of his criticisms of waste in PPP appropriate (but small potatoes in the grand scheme of things). But what has changed now vs 2008-present where he's been saying essentially this same thing in every one of his articles, podcasts, tirades, etc?
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sjl333
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by sjl333 »

justglassin wrote: Wed Jul 15, 2020 11:04 pm Got through about an hour of it. Longtime Rogan listener and this was one of the more painful episodes I can remember. Essentially a rehash of his (Schiff's) one-string guitar harping on and on about debt and inflation and how if he were president he'd had let everything collapse, how taxation is theft, etc.

I actually liked his interview with Joe in 2017 much more, likely due to it being in-person vs this awkward Skype connection where they stepped on one another for three hours.

That being said, I'd welcome anyone's views on Schiff's doom and gloom. He's been saying that for the past decade (and he is a gold monger). I'll be the first to admit I found some of his criticisms of waste in PPP appropriate (but small potatoes in the grand scheme of things). But what has changed now vs 2008-present where he's been saying essentially this same thing in every one of his articles, podcasts, tirades, etc?
I agree that he's been gloom and doom for quite some time. But He talks a lot of sense IMO and I actually like him . A true capitalist. He makes me want to pull out. But being a boglehead Ill probably stay in ... Just wanted to gain some wisdom from others .
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by j0nnyg1984 »

Schiff is hard enough to listen to even when they are in the same room, this was just painful. “Peter Peter Peter Peter Peter Peter” every 30 minutes - the dude just can’t STFU.

I, too, like a lot of what he says. He just goes tooo far.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by AC782 »

I listened to Peter Schiff’s podcast avidly from 2016-2018 before I finally snapped out of it. He’s a great voice to keep in your mind for what can go wrong with your investments, but shouldnt be the only the voice you listen to, he’s too depressing for me. I’m also an avid Joe Rogan listener, but couldnt bring myself to listen to this particular episode. Although he makes a lot of great points about our deficit growing too large, I dont think we’ll ever get spending and fiscal policy in line with what he thinks is reasonable, thus he will forever have a bearish outlook.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by bottlecap »

I don’t think there has to be a big implosion.

The effect of government/fed intervention, if you believe actions must have consequences, could much more likely be a slow grind towards zero-ish real growth. This would likely have to be assisted by the dollar no longer becoming a world reserve currency. Even people who agree with a lot of things Schiff believes theorize that a big fall in demand for US currency is likely a long way off.

In any event, truth or not, it's not affecting my investing strategy right now, nor is it likely to in my lifetime.

JT
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by daheld »

Joe Rogan is the absolute worst.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by VictoriaF »

daheld wrote: Thu Jul 16, 2020 7:37 am Joe Rogan is the absolute worst.
Joe Rogan is very good.

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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by hunoraut »

daheld wrote: Thu Jul 16, 2020 7:37 am Joe Rogan is the absolute worst.
why? he's just the vehicle.

he brings in scientists, engineers, entertainers, athletes, economists, politicians, prominent business figures, etc. anyone from brian cox to jack dorsey to bernie sanders.

love or hate these individuals, he gives them 1-3hr to express their opinion, which is a much better platform than the 30 second news-clips video media. and if you dont like one... you skip to the next episode.

when he's being cavemen and shooting the [expletive deleted by moderator oldcomputerguy] with his comedian peers it's quite dull, but when he brings in scientists and give them the spotlight it's quite interesting.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by daheld »

hunoraut wrote: Thu Jul 16, 2020 9:28 am
daheld wrote: Thu Jul 16, 2020 7:37 am Joe Rogan is the absolute worst.
why? he's just the vehicle.

he brings in scientists, engineers, entertainers, athletes, economists, politicians, prominent business figures, etc. anyone from brian cox to jack dorsey to bernie sanders.

love or hate these individuals, he gives them 1-3hr to express their opinion, which is a much better platform than the 30 second news-clips video media. and if you dont like one... you skip to the next episode.

when he's being cavemen and shooting the [expletive deleted by moderator oldcomputerguy] with his comedian peers it's quite dull, but when he brings in scientists and give them the spotlight it's quite interesting.
I agree that he sometimes has interesting guests. A lot of times it's purely crackpot conspiracy theories, pseudoscience, and quackery. Giving these people an amplified voice is, in my estimation, damaging. Reasonable people can disagree, but I quite frankly find some of the views he holds, and the views of those he often has on, unreasonable. And the "he's just the vehicle!" thing is exactly what he wants--it provides plausible deniability when he hosts and amplifies damaging viewpoints.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by alfaspider »

I don't need to watch it to know that he's forecasting doom and gloom. The guy has been saying the same thing for years and uses every negative event as an excuse to get back to the spotlight and prove he was "right" all along.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by KlangFool »

OP,

My question to you is very simple.

A) Are you prepared if he is right?

B) If you are prepared, why should you waste your time to listen to all those stuff? Isn't it more productive to watch some movies and listen to some music?

Did you

A) Increase your emergency fund?

B) Buy some gold and/or silver?

If not, why bother listening to those kinds of stuff? It is not actionable for you. FYI. I did both (A) and (B).

KlangFool
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by stoptothink »

hunoraut wrote: Thu Jul 16, 2020 9:28 amwhen he's being cavemen and shooting the [expletive deleted by moderator oldcomputerguy] with his comedian peers it's quite dull, but when he brings in scientists and give them the spotlight it's quite interesting.
I very much pick and choose what I listen to from him. He's a huge name in podcast so he gets access to some of the best guests. When he gets into psychedelics or politics, I know it is time to tune out.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by SmallSaver »

sjl333 wrote: Wed Jul 15, 2020 10:58 pm Just listened to the new JRE podcast with Peter Schiff .

He's major gloom and doom and thinks there will be a big crash in the future due to the government printing money like crazy.

Thoughts ?
I don't know Schiff, but haven't some people been urgently predicting this since 2008? Maybe before? A stopped clock...
wootwoot
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by wootwoot »

Schiff is a broken record. He's been saying the same thing for at least 15 years. He sounds like a genius when the market crashes and anything but a genius when the market does well.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by arcticpineapplecorp. »

he got known for making a correct call about the housing market. but you always have to remember that even a broken clock will be right twice a day, however, I wouldn't advise using that to tell time.
However, since that time, many of Mr. Schiff's calls have been wrong. In 2008 Mr. Schiff predicted gold would hit $2,000 by 2009 and $5,000 by 2013. Unless gold quadruples in price in the next three months, he will be wrong. In 2009 Mr. Schiff also stated "Oil prices had a pretty big run and might not make more headway by the end of the year. But we could see $150 to $200 next year. Oil never came close to $150.00 to $200.00 a barrel, in fact, in 2010 oil fell in price with an average price in the mid-$70's.

Think those predictions from 2009 were off, how about these from a July 2011, interview. Here are his thoughts on the dollar, "As soon as the world starts to focus on the dollar, we're going to be hitting new lows. By the fall I think the dollar will be hitting record lows against the Euro." On gold, Schiff had this to say, "Well I'm surprised gold is as cheap as it is given all of the money we've already printed and the money we're threatening to print. Over $10,000 GOLD could happen, there's no floor on the dollar, so there's no ceiling to gold."...

For seven years now Mr. Schiff has been proclaiming the American economy was on the verge of collapse, the dollar was going to have a massive decline, and that gold and other commodities were going to skyrocket. For most of those seven years he has been wrong. Gold has been down huge the last two years, the dollar has not lost value and the American economy is stronger, not weaker. Like others before him, Mr. Schiff keeps repeating the same talking points, in hopes that at some point he will be right...

Mr. Schiff, to his credit, was right about the housing crisis, but like all other market forecasters, his accuracy declined as his notoriety rose. Let me be clear about one thing, no one can consistently predict the market.

Some of the smartest people around have tried to outsmart the market and have failed. Long Term Capital Partners was formed by some of the smartest people on Wall Street and included two Nobel winning economist. They had devised a computer trading program which, they claimed, reduced trading risk to zero while benefiting from certain arbitrage situations. Unfortunately they did not see a Russian financial crisis coming. Their trades went from bad to worse and they eventually had to be bailed out.

To believe you can predict the market is foolhardy and to think some self proclaimed market forecaster can predict the market is just as foolish.

If you want to succeed in investing, stop thinking someone has a crystal ball to the market, no one does. The better plan is to buy quality companies, preferably when they are cheap, and hold them. Reinvest the dividends and let time be your friend.

A quality business will, over time, grow and reward you. A quality business that pays a dividend you reinvest will, over time, reward you even more.

source: https://seekingalpha.com/article/172276 ... forecaster
now instead of asking others what they think, after reading this, what do you think?
It's "Stay" the course, not Stray the Course. Buy and Hold works. You should really try it sometime. Get a plan: www.bogleheads.org/wiki/Investment_policy_statement
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by Maverick3320 »

Instead of the economy crashing, I think it's much more likely the country just experiences a slow economic decline toward zero real growth.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by crystalbank »

KlangFool wrote: Thu Jul 16, 2020 9:42 am OP,

My question to you is very simple.

A) Are you prepared if he is right?

B) If you are prepared, why should you waste your time to listen to all those stuff? Isn't it more productive to watch some movies and listen to some music?

Did you

A) Increase your emergency fund?

B) Buy some gold and/or silver?

If not, why bother listening to those kinds of stuff? It is not actionable for you. FYI. I did both (A) and (B).

KlangFool
Strangely I agree with you. Not the buying gold and silver part but paying attention to long term predictions or forecasts.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by KlangFool »

crystalbank wrote: Thu Jul 16, 2020 12:04 pm
KlangFool wrote: Thu Jul 16, 2020 9:42 am OP,

My question to you is very simple.

A) Are you prepared if he is right?

B) If you are prepared, why should you waste your time to listen to all those stuff? Isn't it more productive to watch some movies and listen to some music?

Did you

A) Increase your emergency fund?

B) Buy some gold and/or silver?

If not, why bother listening to those kinds of stuff? It is not actionable for you. FYI. I did both (A) and (B).

KlangFool
Strangely I agree with you. Not the buying gold and silver part but paying attention to long term predictions or forecasts.
My point is

A) If you are worried enough about something, then, be prepared for it.

B) If you are not, why listen to all those junks?

As for the specific details of the preparation, it is up to each individual to decide.

KlangFool
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by New Providence »

I have no issues with Peter Schiff peddling gold, but his recent racists remarks on Twitter are unacceptable.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by Enganerd »

daheld wrote: Thu Jul 16, 2020 9:32 am
hunoraut wrote: Thu Jul 16, 2020 9:28 am
daheld wrote: Thu Jul 16, 2020 7:37 am Joe Rogan is the absolute worst.
why? he's just the vehicle.

he brings in scientists, engineers, entertainers, athletes, economists, politicians, prominent business figures, etc. anyone from brian cox to jack dorsey to bernie sanders.

love or hate these individuals, he gives them 1-3hr to express their opinion, which is a much better platform than the 30 second news-clips video media. and if you dont like one... you skip to the next episode.

when he's being cavemen and shooting the [expletive deleted by moderator oldcomputerguy] with his comedian peers it's quite dull, but when he brings in scientists and give them the spotlight it's quite interesting.
I agree that he sometimes has interesting guests. A lot of times it's purely crackpot conspiracy theories, pseudoscience, and quackery. Giving these people an amplified voice is, in my estimation, damaging. Reasonable people can disagree, but I quite frankly find some of the views he holds, and the views of those he often has on, unreasonable. And the "he's just the vehicle!" thing is exactly what he wants--it provides plausible deniability when he hosts and amplifies damaging viewpoints.
Admittedly I am a bit of a caveman with similar interests to Rogan, so I find his show pretty entertaining. But it does bother me how he will flip between delivering a passionate, strong and opinionated monologue to then saying defensively something like "people shouldn't take this seriously I am a comedian, I am just a dummy."

Lately it seems even some of his thoughtful guests are not able to fully express certain perspectives because Joe has bias on the subject. The guests are hyper aware he has a huge audience and that he can get going on certain subjects so to get through the 3 hours in a entertaining way they are more agreeable and tend to dumb down and/or weaken there own view. One funny example stands out in my mind. Neil Degrasse Tyson was on, and they were talking about society benefits that came from Government spending such as Nasa and Joe tried to make a counter point that the free market is superior (I mostly agree, but his example was terrible) by pointing out how southern Cali's air quality got better because industry and car manufacturers collectively decided to reduce air pollution. It did not occur to him that gov. regulations could have been involved and IIRC NDT did not even rebut him despite that was relevant to their specific conversation!

Anyways I listened to the Schiff episode and it wasn't very good. I agree Schiff has some decent points about how government and CBs can distort traditional economic models and therefore add more variables to account for when determining investment risks. But he was a bit obnoxious and beating the same notes regardless of Joe's questions. He also has an obvious business incentive in pushing his narrative. And anyone who speaks with his idealistic confidence of how macro events with turn out in the future is not a serious thinker on a subject strife with uncertainty, such as the global macro economy.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by JoMoney »

sjl333 wrote: Wed Jul 15, 2020 10:58 pm Just listened to the new JRE podcast with Peter Schiff .

He's major gloom and doom and thinks there will be a big crash in the future due to the government printing money like crazy.

Thoughts ?
I haven't listened to it (yet)... but that's been Peter Schiff's position forever, nothing new there, even if his reasons might be updated to include some more recent events.
Peter's dad, Irwin Schiff, was also a gold bug that promulgated the same basic ideas.... Irwin Schiff died while in prison for tax evasion.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by basspond »

His doom and gloom is probably correct but not because the government is printing money.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by Wricha »

daheld wrote: Thu Jul 16, 2020 9:32 am
hunoraut wrote: Thu Jul 16, 2020 9:28 am
daheld wrote: Thu Jul 16, 2020 7:37 am Joe Rogan is the absolute worst.
why? he's just the vehicle.

he brings in scientists, engineers, entertainers, athletes, economists, politicians, prominent business figures, etc. anyone from brian cox to jack dorsey to bernie sanders.

love or hate these individuals, he gives them 1-3hr to express their opinion, which is a much better platform than the 30 second news-clips video media. and if you dont like one... you skip to the next episode.

when he's being cavemen and shooting the [expletive deleted by moderator oldcomputerguy] with his comedian peers it's quite dull, but when he brings in scientists and give them the spotlight it's quite interesting.
I agree that he sometimes has interesting guests. A lot of times it's purely crackpot conspiracy theories, pseudoscience, and quackery. Giving these people an amplified voice is, in my estimation, damaging. Reasonable people can disagree, but I quite frankly find some of the views he holds, and the views of those he often has on, unreasonable. And the "he's just the vehicle!" thing is exactly what he wants--it provides plausible deniability when he hosts and amplifies damaging viewpoints.
Perhaps, he should be an editor for the NYT
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by ponyboy »

Joe Hogan

$200,000,000+ from spotify. Glad to hear he's moving out of LA and to Texas. He'll make the move right before the spotify transition. My guess is, thats when he gets paid. He will save massive amounts in taxes alone. Basically, he'll be able to move to Texas, acquire a huge compound with tons of acres, for free. Or...stay in LA, and eat it all in taxes and give it back to the state.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by sabtastic »

This was Schiff at his best, so if you don't like him here you won't like him anywhere.

His economics is sound. I think we've been in an ever expanding bubble since 1987 thanks to Greenspan and loose monetary policy and it can't go on forever. Even Jeremy Seigel is concerned and is recommending 10% gold (see the MiB podcast thread). I have friends who were very comfortable with their retirement now "Chasing returns" and loading up on the TAIL etf instead of bonds. People know there is something very wrong and they are panicking.

What do I think we should do? Stay the course. Don't change anything. There is going to be a storm for sure, but buying gold is not going to save you from something like this.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by mudphudder »

Peter Schiff has been saying the same thing for 20 years and consistently loses money on his investment strategies. He's a one-trick pony and the one trick he knows hasn't worked.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by brianH »

If you listened to Schiff when he really started beating this drum after the 2008 crash, you missed out on one of the biggest run-ups in stock market history. I agree with the 'stopped clock' analogy; he's a loud perma-bear.

Granted, I only got through about half of the interview so far, but does he ever opine on what, exactly, is going to replace the USD as the reserve currency? The reason why foreigners are buying USD (loaning us money) isn't because they're 'stupid' like he claims, it's because the USD, and the US in general, is the largest, strongest, and most secure economy in the world. What is the alternative? All of the world economies are at in at least as bad shape or far worse than the US.

Good luck with the gold hiding out in Puerto Rico if even 1/2 of what he's been dooming on about comes true. That said, I agree with many of his libertarian ideas and positions.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by DJP1944 »

For those that haven't seen, here's a classic Peter Schiff speech at a mortgage banker's conference from 2006 (it's a long talk):

https://www.youtube.com/watch?v=jj8rMwdQf6k

At around the 10 minute mark he tells the mortgage bankers about the impending housing crisis.

He may be a broken record for some but another way of saying that is "consistent". Like others have said though, it's hard to know 'when' thus virtually impossible to take action.
Last edited by DJP1944 on Fri Jul 17, 2020 12:16 pm, edited 1 time in total.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by Jags4186 »

Peter Schiff has been saying the exact same thing for 20+ years. Take a look at his EuroPacific capital funds. If you want to lose money invest with/like Peter Schiff.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by crystalbank »

ponyboy wrote: Fri Jul 17, 2020 6:27 am Joe Hogan

$200,000,000+ from spotify. Glad to hear he's moving out of LA and to Texas. He'll make the move right before the spotify transition. My guess is, thats when he gets paid. He will save massive amounts in taxes alone. Basically, he'll be able to move to Texas, acquire a huge compound with tons of acres, for free. Or...stay in LA, and eat it all in taxes and give it back to the state.
:moneybag

I don't think his show will continue to be as influential after the Spotify transition. Just like how Howard Stern became less influential after transitioning away from terrestrial radio (albeit making a lot of money).
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by unclescrooge »

sjl333 wrote: Wed Jul 15, 2020 10:58 pm Just listened to the new JRE podcast with Peter Schiff .

He's major gloom and doom and thinks there will be a big crash in the future due to the government printing money like crazy.

Thoughts ?
Schiff has been setting for 15 years.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by brianH »

Jags4186 wrote: Fri Jul 17, 2020 12:07 pm Peter Schiff has been saying the exact same thing for 20+ years. Take a look at his EuroPacific capital funds. If you want to lose money invest with/like Peter Schiff.
Bunch of stinkers in that basket.

I noticed all of them lost as much value or more than the SP500 during the March drop. For someone that talks a big game about protecting your assets, he's not the one you want to invest with to protect yours.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by jason.durby »

Schiff clearly is a very bright economic mind. But I think he has doubled and tripled down on his school of thought. But in regards to his views on the current state of American government and American economics, he’s clearly right. Look at the end of the day, doesn’t take a genius to realize that if you don’t save and continue to rack up debt, one day you will have an issue. The question is how much of an issue will the American economy have in the future and how much of it can be mitigated. So I might buy 5-10% gold ETFs but I will continue the path forward
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by nisiprius »

Peter Schiff's past statements, up to 2015:
...“Gold’s got only one direction to go, and that’s higher,” Schiff said in October 2012. “People are going to be shocked at how inexpensive gold was” when it was trading at $1,700.... Schiff called for gold to rise to $5,000 in a “few years”; when asked about the time horizon for this target, he replied: “I think you’re going to see a big move sometime in the next couple of years.”

...Following a dramatic crash in April 2013, gold was trading at $1,316 a year later; a year after that, gold was trading at $1,230.

When asked about his prediction in October 2014, Schiff granted that “obviously it’s going to take a little bit longer than what I believed at the time,” but went on to predict that “it’ll go through $2,000 very quickly, and people will be upset that they didn’t buy gold at $1,700.”

That prediction, too, has turned out to be flat-out wrong. Rather than quickly moving higher, gold has continued its slow move lower, and ended trading on Friday around $1,060.

In a long series of emails with CNBC, Schiff maintained that his $5,000 gold call has not yet been proven incorrect.

“I never specified that gold would hit 5000 in two years,” Schiff wrote. “You can say that Schiff thought gold would make a big more [sic] in two years . He was right, but the move was in the opposite direction.”

The investor also hedged on the original time frame he gave.

“A few could be 3, but it could also be 4 or maybe 5,” Schiff wrote. “The marines are looking for ‘a few good men.’ They are certainly looking for more than two. I used that word specifically to be non descriptive as I did not know exactly how long it would take for gold to hit 5000.”

...Schiff laid out what had been his primary bullish case for gold — that Federal Reserve policies would cause a rapid decrease in the dollar as compared to other currencies.

“I think ultimately, the dollar index will be cut in half, at a minimum,” he said.

Actually, dollar strength has turned out to be one of the biggest market themes of the past few years. The dollar index, which compares the U.S. dollar to a basket of other currencies, was trading at 80 that day, and hasn’t fallen lower than 78.90 since. On Friday, that index closed near 99....
"A few could be 3, but it could also be 4 or maybe 5,” Schiff wrote. Well, it is now over seven years since 2012. It was $1,700 when he said it would go to $5,000 "in a few years." It is currently at $1,817.

Even if gold goes to $5,000 this year, his predictions were wrong. That means that anyone who actually tried to act on his predictions would have been hurt.
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
DarkHelmetII
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by DarkHelmetII »

I like listening to Joe Rogan however Schiff like anybody else is pretty much noise. Stick to your plan. I mean Schiff may have some good points but: when exactly do you exit, when do you re-enter etc.... Don't try to do it.
NewMoneyMustBeSmart
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by NewMoneyMustBeSmart »

sjl333 wrote: Wed Jul 15, 2020 10:58 pm Just listened to the new JRE podcast with Peter Schiff .

He's major gloom and doom and thinks there will be a big crash in the future due to the government printing money like crazy.

Thoughts ?
The conversation was awkward due to the delay.

Schiff would have said the same thing 5 years ago.

I agree philosophically with a lot of what he said but his predictions on timing are about as good as the 7th Day Adventist's on the end of the world.

The major theme he talked about that resonates with me is the risk of medium term degradation of the status of the dollar. I believe the reserve currency status of the USA makes the dollar strong, and inflation and lack of status may hurt.

The world does seem to be changing but not as fast and not as much risk.

I think many people know we are in a liquidity bubble and the music could stop at any point. Many of these issues make me wonder if I Should grab a chair now or keep making calculated risks while I wait for the music to stop, if it ever will.
-- | Few are those who see with their own eyes and feel with their own hearts - Einstein
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whodidntante
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by whodidntante »

If I believed his thesis that the dollar will have a major downturn, that still doesn't lead me down the path of buying gold. There are other currencies one can own assets in.
Stephen_Crane
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by Stephen_Crane »

daheld wrote: Thu Jul 16, 2020 7:37 am Joe Rogan is the absolute worst.
+1 I can't stand Joe Rogan because he panders to his guests and has a "bro science" approach to all of his interviews. This is fine and works for some interviews but the public has lauded his program as the be all end all.
sent from my user friendly home computer.
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Elsebet
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by Elsebet »

I listened to the entire episode. Peter Schiff definitely has legitimate concerns, some of which are worrying to me also. However the way he presents his arguments makes him sound like an extremist and I can see why he turns some people off. When Joe kept asking him about what he would do differently he always seemed to deflect the question which makes me think he doesn't really have an idea on how to fix it other than go back in time to his idea of the American utopia.

Some things I agree with him on:

- most people don't save enough
- most people spend too much
- most people take on too much debt
- the modern economy does seem to be dependent on all 3 of the above to a worrying degree

Things I'm not sure about because I'm not an economist:

- was capitalism better before the government started regulating it?
- does minimum wage hurt workers rather than businesses? His ideas made me question this for sure.
- I find it hard to believe that before government intervention in the economy that "no one in America was starving" (his quote verbatim)

Are we permitted to discuss questions like this on the forum?
"...the man who adapts himself to his slender means and makes himself wealthy on a little sum, is the truly rich man..." ~Seneca
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unclescrooge
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by unclescrooge »

Elsebet wrote: Tue Jul 21, 2020 9:45 am I listened to the entire episode. Peter Schiff definitely has legitimate concerns, some of which are worrying to me also. However the way he presents his arguments makes him sound like an extremist and I can see why he turns some people off. When Joe kept asking him about what he would do differently he always seemed to deflect the question which makes me think he doesn't really have an idea on how to fix it other than go back in time to his idea of the American utopia.

Some things I agree with him on:

- most people don't save enough
- most people spend too much
- most people take on too much debt
- the modern economy does seem to be dependent on all 3 of the above to a worrying degree

Things I'm not sure about because I'm not an economist:

- was capitalism better before the government started regulating it?
- does minimum wage hurt workers rather than businesses? His ideas made me question this for sure.
- I find it hard to believe that before government intervention in the economy that "no one in America was starving" (his quote verbatim)

Are we permitted to discuss questions like this on the forum?
I'm pretty sure the average American worked 10-12 hour days, six days a week until the 1920s, and then 8 hr days six days a week until the 1940s. There was also little social mobility until after WWII, after which productivity and income soared, and propelled millions of people out of poverty in to the middle class.

Does he put a timeline on when exactly this government intervention started that caused this alleged widespread starvation?
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ladders11
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by ladders11 »

Peter Schiff is a new one for me. At least on first impresssion, he reminds me of Marc Faber or Jim Rogers. Schiff seems the least agreeable (to me) and the most political.

Not sure exactly what the draw is, but I've wasted lots of time reading or listening to these guys. Not too much money, thankfully. Most of their prognostications are not actionable. But Rogers in particular seems sort of cool for some reason, like here's this smart guy telling you what he thinks.

And they all tend to float very long term, macro trend theories on commodities and alternatives.

As long as you're able to confess you like the entertainment they provide, and keep your portfolio locked in, there isn't much harm in their opinions, and there can be some positive influence you draw from them.
kimura king
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by kimura king »

unclescrooge wrote: Tue Jul 21, 2020 7:59 pm
Elsebet wrote: Tue Jul 21, 2020 9:45 am I listened to the entire episode. Peter Schiff definitely has legitimate concerns, some of which are worrying to me also. However the way he presents his arguments makes him sound like an extremist and I can see why he turns some people off. When Joe kept asking him about what he would do differently he always seemed to deflect the question which makes me think he doesn't really have an idea on how to fix it other than go back in time to his idea of the American utopia.

Some things I agree with him on:

- most people don't save enough
- most people spend too much
- most people take on too much debt
- the modern economy does seem to be dependent on all 3 of the above to a worrying degree

Things I'm not sure about because I'm not an economist:

- was capitalism better before the government started regulating it?
- does minimum wage hurt workers rather than businesses? His ideas made me question this for sure.
- I find it hard to believe that before government intervention in the economy that "no one in America was starving" (his quote verbatim)

Are we permitted to discuss questions like this on the forum?
I'm pretty sure the average American worked 10-12 hour days, six days a week until the 1920s, and then 8 hr days six days a week until the 1940s. There was also little social mobility until after WWII, after which productivity and income soared, and propelled millions of people out of poverty in to the middle class.

Does he put a timeline on when exactly this government intervention started that caused this alleged widespread starvation?
he talks about deviating from the gold standard as a mistake, the 1940's and I think early 70's when Nixon was president he has some gripes from that time frame also (I guess around the oil crisis time?).

I believe your info about average American workers.
denovo
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by denovo »

sjl333 wrote: Wed Jul 15, 2020 10:58 pm Just listened to the new JRE podcast with Peter Schiff .

He's major gloom and doom and thinks there will be a big crash in the future

Thoughts ?
He's been like that forever, that's not news.
"Don't trust everything you read on the Internet"- Abraham Lincoln
Pacific
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by Pacific »

Why does Joe Rogan, in so many of his podcasts, feel the need to constantly use such foul language? Is it supposed to be cool?
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JoMoney
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by JoMoney »

Pacific wrote: Tue Jul 21, 2020 11:24 pm Why does Joe Rogan, in so many of his podcasts, feel the need to constantly use such foul language? Is it supposed to be cool?
He speaks with a tone and the language that his audience connects with. It wouldn't be "cool" if he spoke in an overly refined way, or if it seemed like he was censoring the feelings he was trying to convey either.
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by Pacific »

JoMoney wrote: Wed Jul 22, 2020 12:13 am
Pacific wrote: Tue Jul 21, 2020 11:24 pm Why does Joe Rogan, in so many of his podcasts, feel the need to constantly use such foul language? Is it supposed to be cool?
He speaks with a tone and the language that his audience connects with. It wouldn't be "cool" if he spoke in an overly refined way, or if it seemed like he was censoring the feelings he was trying to convey either.
I was listening to one of his podcasts last night and he used the f-work about 5 times in two minutes. My wife was in the other room and asked me why I was listening to such crap! I really didn't have an answer (but after three years as a deckhand on river barges while I was in school, I can easily out f-word Rogan easily -- but I have learned when and where to use that language).
international001
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by international001 »

Once there was a man who decided to stop looking at packaging and all the marketing it came with it. Whatever his aesthetic preferences, he decided to pay more attention to substance.

He left Edward Jones and move to Vanguard.
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VictoriaF
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by VictoriaF »

Pacific wrote: Wed Jul 22, 2020 1:51 am
JoMoney wrote: Wed Jul 22, 2020 12:13 am
Pacific wrote: Tue Jul 21, 2020 11:24 pm Why does Joe Rogan, in so many of his podcasts, feel the need to constantly use such foul language? Is it supposed to be cool?
He speaks with a tone and the language that his audience connects with. It wouldn't be "cool" if he spoke in an overly refined way, or if it seemed like he was censoring the feelings he was trying to convey either.
I was listening to one of his podcasts last night and he used the f-work about 5 times in two minutes. My wife was in the other room and asked me why I was listening to such crap! I really didn't have an answer (but after three years as a deckhand on river barges while I was in school, I can easily out f-word Rogan easily -- but I have learned when and where to use that language).
I listen to Joe Rogan's podcasts with the guests I am interested in. I don't recall how many times Rogan used the f-word, because it comes to him naturally. By contrast, when I listen to podcasts by professionals, e.g., Peter Attia or Sam Harris, their occasional use of vulgarities is jarring.

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HomerJ
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Re: Anybody watch new joe Rogan episode with Peter Schiff?

Post by HomerJ »

sjl333 wrote: Wed Jul 15, 2020 11:10 pm
justglassin wrote: Wed Jul 15, 2020 11:04 pm Got through about an hour of it. Longtime Rogan listener and this was one of the more painful episodes I can remember. Essentially a rehash of his (Schiff's) one-string guitar harping on and on about debt and inflation and how if he were president he'd had let everything collapse, how taxation is theft, etc.

I actually liked his interview with Joe in 2017 much more, likely due to it being in-person vs this awkward Skype connection where they stepped on one another for three hours.

That being said, I'd welcome anyone's views on Schiff's doom and gloom. He's been saying that for the past decade (and he is a gold monger). I'll be the first to admit I found some of his criticisms of waste in PPP appropriate (but small potatoes in the grand scheme of things). But what has changed now vs 2008-present where he's been saying essentially this same thing in every one of his articles, podcasts, tirades, etc?
I agree that he's been gloom and doom for quite some time. But He talks a lot of sense IMO and I actually like him . A true capitalist. He makes me want to pull out. But being a boglehead Ill probably stay in ... Just wanted to gain some wisdom from others .
He made sense in 2011 too... He's being saying the exact same thing for 10 years

He says things that make sense, yet following him would have cost you a ton of money.

So why follow him now?

He's PROVEN he doesn't know what's going to happen... How many years does a financial "expert" have to make a wrong call before people stop asking them for predictions?
A Goldman Sachs associate provided a variety of detailed explanations, but then offered a caveat, “If I’m being dead-### honest, though, nobody knows what’s really going on.”
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