“Why the Meltdown Should Have Surprised No One” – Peter Schiff [updated]

From last weekend’s Austrian Scholars’ Conference. 

Put aside an hour and fifteen minutes, and learn about the meltdown from one of the most in-demand pundits around . . . and don’t miss him talking about buying up the whole of New Zealand!

Or his recommendation that the US government shouldn’t put Bernie Madoff in jail, they should make him Treasury Secretary!  Who else has the very skills that job requires?

NB: Astute readers will notice that I posted the notes to Schiff’s presentation on Saturday.

UPDATE: David McGregor -- author of what is still the 3rd most popular post ever here at NOT PC --  offers this advice:

    I'm going to keep this real short.
    I've just finished watching [this] 1 hr 16 min YouTube video of Peter Schiff…
    If you have any interest in fully understanding why this meltdown has happened, why government 'remedies' will fail, and what will be the consequences, then I suggest you turn off CNN, Fox, CBC, BBC - or whatever TV channel you normally watch - and devote 1 hour 16 minutes to being exposed to some hard truths and realities.
     Peter Schiff blows up popular perceptions of what is happening and why, and focuses his razor-sharp mind on the real causes and issues.
    Common sense with brilliance and clarity - that's how I'd sum it up.