Don't Say You Weren't Warned

Peter Schiff was one of the few who predicted the mortgage and financial meltdown when it was unpopular to do so. And he did it with amazing accuracy. Now he has a lot more company as he forecasts a prolonged recession (depression?) and hyper-inflation that will result from the centrally planned takeover of the economy - aka: Stimulus.

Is anyone listening? Given his track record, Schiff certainly has the credibility. But hey! Lets not let facts get in the way of a good crisis. There's power to grab don'tcha know.

Hat Tip to: Hot Air

Americans Becoming Unhinged over Economy?

Here's an interesting piece of "news" from the lamestream media:

NEW YORK (Reuters) – A paralegal, recently laid off, wanted to get back at the "establishment" that he felt was to blame for his lost job. So when he craved an expensive new tie, he went out and stole one.The story, relayed by psychiatrist Timothy Fong at the UCLA Neuropsychiatric Institute and Hospital, is an example of the rash behaviors exhibited by more Americans as a recession undermines a lifestyle built on spending.In the coming months, mental health experts expect a rise in theft, depression, drug use, anxiety and even violence as consumers confront a harsh new reality and must live within diminished means."

Oh brother. Is there any empirical evidence for this alarmist assertion? No. Just one anecdote and the opinion of a couple of shrinks Reuters found willing to bolster an irresponsible conclusion in search of a story.

Of course, the underlying theme is that Americans are a bunch of children who can't be trusted to deal with life's setbacks on their own and must directed by the smart people in government.