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Dr. Doom educates Congress

Posted by Richard on September 20, 2011

Peter Schiff (a.k.a. Dr. Doom), who predicted the sub-prime mortgage crisis and the collapse of the housing bubble and auto industry, has wrapped up his testimony before the House Subcommittee on Government Reform and Stimulus Oversight. I strongly urge you to watch this 22-minute video of some of the highlights of his testimony last week. If you’re familiar with Austrian economics or Frederic Bastiat, some of what he says may ring a bell.

[YouTube link]

Schiff is the CEO of Euro Pacific Capital and the son of famed tax protestor Irwin Schiff. He has a blog* and an internet radio show, and is a frequent guest on cable news shows. I really like this Schiff quote, which channels Bastiat:

You can always see the jobs that government creates. What you don’t see are the jobs that they destroy.

Ryan Swift has a nice post about Schiff’s testimony, along with a couple of alternative video excerpts of his testimony (there’s a fair amount of overlap with the video above, which I found at Zero Hedge).

There’s a compelling 5-minute interview with Schiff here.

* This post originally linked to an unofficial blog that’s not Peter Schiff’s. Thanks to Anthony Nelson of, I’ve corrected the link so that it points to Peter Schiff’s actual blog.

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