Peter Schiff – Prediction on Obama

I just finished reading “The Little Book of Bull Moves in Bear Markets” by Peter Schiff and there is an interesting prediction about the 2012 US presidential election in the book.

The book was published before the results of the current elections were out and Peter Schiff has actually made a prediction about

  1. Who will win this election?
  2. What will he do?
  3. How will it influence the 2012 election?

This is really interesting because very few people are thinking four years ahead right now as they are busy worrying about the next few recessionary months.

The Prediction

Peter Schiff has got one out of the three right, but, that was probably the easier one. According to Mr. Schiff, Mr. Obama is going to make the government bigger, than it currently is, and push America deeper in the recession. The increase in government spending and regulation will cause bigger problems than today and by the end of Mr. Obama’s term, people will recognize the root of the problem – more government and less free markets.

At that time, people will want a candidate who promises to reduce the role and size of the government and someone like Ron Paul will get a good shot at the presidency in 2012.

These are pretty bold statements from someone who manages millions of dollars of investor money. If he gets it wrong too often, and on record (writing a book about it), it will ruin his reputation to manage money and attract capital. Only time will tell how accurate his statements are, but he has shown real boldness by making such predictions.

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