American investment broker, businessman, author and financial commentator Peter Schiff warns us that we are in worse shape now economically than we were just before the 2008 financial crisis, which we still have yet to recover from. “I think the U.S. has been in a depression or a recession for the entirety of the Obama presidency,” Schiff said. “I think there’s going to be a depression, but I don’t think it’s going to be global.” “When the dollar collapses and when the rest of the world stops wasting their resources, propping up our economy, buying our debt, selling us products that we can’t pay for, I think you’re going to have a global economic boom outside of the United States.” “I just hope that one day we’re smart enough to jump in on it by adopting free market principles.” “I hope we can reclaim our former glory,” he continued. “But to do that’s we’re going to have to reclaim the values that we have abandoned and those are the ones that our Founding Fathers wrote into our Constitution, not the ones that we’re following now.” See the interview HERE. Peter Schiff Was Right Part Deux: The “Taper” Edition For those of you who remember the months following the 2008 financial crisis, one of the most viral videos out there (it has over 2 million views) was the “Peter Schiff Was Right” compilation. It consists of various clips of Mr. Schiff being prescient about the financial condition of the U.S., as talking heads on various financial shows mock him and laugh in his face. Well, the “Peter Schiff Was Right Video Part Deux” is now out and I expect this one to go viral as well. In this case, pundits laugh at Peter’s insistence that there will be no taper and that it was all a bluff (they pull off the same bluff every year). It ends in classic fashion with Bob Pisani explaining to the dwindling audience at CNBC that “no one saw it coming.” I guess we’re back to that again. The next crisis can’t be far off. CONTINUE . . .