People in the Austrian Libertarian community need little introduction to Peter Schiff. He is how I first heard of Austrian economics. After the crash of 2008, I started searching on the internet to find out who, if anyone, predicted the economic crash of 2008. At the time I just finished Alan Greenspan’s autobiography that summer. I thought I had a good understanding of economics. According to Mr. Greenspan, we were in a new age where the Federal Reserve through its monetary policy could make America permanently prosperous. Well, that was proved wrong real quick. In the search for who predicted the crash of 2008 I found this video. Soon after this I learned about the Austrian School of Economics. It was as if a whole new world was opening up to me and I guess intellectually it kind of has. The Austrian School of Economics has literally completely changed the way I view the universe around me and has in turn changed me as well. All my previous cherished beliefs were called into question but I could not stop reading Austrian Economics and Austrian libertarianism. Its explanatory powers were so powerful I could not turn away even when it was contradicting what I thought I previously knew. Everything was explained in a way that was so simple it is almost as if everything I new before was worded and presented in a way to deliberately confuse. As I read it turned out that the Austrians have predicted every major economic crash since the great depression. They have always been right when everyone else seems to be wrong. Not only did they predict every crash but they also explained why crashes happen in very simple and easily understood language. A little hint, it is not a free market phenomenon but it is always due to central banking policy.
Well, anyway, back to Peter Schiff. He always has great insight for both new learners and those who have been part of the libertarian community for years.
Once again Schiff has great foresight in this “age of turbulence“.