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.
I learned this the hard way last year. If you're hunting in an area with lots of bear activity, it's a great idea to stash your food and water up in a tree. I like to wrap everything in a tarp and tie it between two trees. Don't just tie it up in one tree but tie it in between two trees at least 15 feet in the air. I thought I had my backpacking camp's food supply stashed pretty well last year. I returned to camp during the first weekend of archery to find all my food destroyed. Make sure...