Kudos to Peter. His concerns about the national savings rate is well founded and in hindsight he makes his opponents look comically bullish. DOW 16,000.... wow.... there is some hilarious commentary in the video. Thanks for posting.
However its worth noting that Peter is somewhat of a perennial bear and has been occasionally beating the drum of doom for awhile. Check out his archives here:
The vid was just for amusement. Economics is best looked at with numbers and words, but along those same lines...
Peter is a bear. If a $100 investment rises to $300 then falls back to 200 he'd say look I told you it would lose half it's value. Also the clips were cherry picked. But every time I hear the word hyperinflation my hypertension skyrockets.
I read Krugmans economics blog second or third every day, he is much more preiscent and timely in his warnings, but he is horrid on TV. Good part is he's a Keynesian and has a Nobel, which not many US economists have.
I know gold has been flat, but wish I had shares, seems safet than the USD.
I turn on my newsreader this morning to find out my bank has been using bailout money to buy a big retail bank on the East Coast. Good use of my tax dollars.
In the spring of 2007 I was the unfortunate recipient of an injury cause by a damaged carbon arrow that shattered on release of the arrow. I was in the yard going to take a few practice shots before dinner and the second arrow is the one that did the damage. That day will forever be burned in my mind. After I release what happened I made mistake #2 I pulled the tail shaft of the arrow out of my hand causing more damage.
Thank goodness that my wife was home and was able to...