Premature Money Predictions and Why You Should Avoid Snake-oil Salesmen
My good friend @mikeparker wrote a great article about five alternative-investment heroes that were premature in their hyperinflation, doom-and-gloom forecasts. Please check out his article here, and also help a brutha out (he's good people...I've personally worked with him in the past) -- https://steemit.com/predictions/@mikeparker/5-smart-people-who-falsely-predicted-hyperinflation-so-far
I want to make a comment about one of the forecasters on his list, John Williams (the bullshit conspiracy theorist fear-mongerer, NOT the musical composer).
Mr. Williams particularly irks me because of his enormous public following despite the fact that he has significantly hurt many families who bought into his message of economic disaster and societal desperation. He utilizes half-truths and conflates them with a broad picture of abysmal horrors and terrifying calamity.
He is no better than any other doom-and-gloomer that sets fire to your house, and then proceeds to sell you an extinguisher.
Mr. Williams is also full of shit. He routinely states that official inflation statistics are deflated, and that the U.S. is on the verge of hyperinflationary collapse. His evidence? Some bullshit charts that purport to show real inflation versus official inflation.
Here's the problem -- the real versus official data share a 100% correlation with each other! In other words, the only difference is that Williams raised the base of official inflation trends several percentage points higher and called it "real inflation." That's not advanced-level research...that's bullshit!
The ABSOLUTE WORST part of this charade is that John Williams doesn't even believe in his own bullshit! He routinely tells you that the fiat dollar is going to collapse, and that food, guns, precious metals, and other necessities are going to give you the best chance (the only chance!) of survival.
Well...WHY ARE YOU SELLING YOUR "SERVICES" FOR WORTHLESS FIAT DOLLARS !?!?!???
It blows my mind that someone who viciously attacks fiat dollars and the unsustainable financial credit system is demanding payment via CREDIT CARDS!!!
Geez...why don't you accept payment in, I don't know ... silver bullion? Even bitcoin?
I have watched some of his interviews on youtube, the shadowstats thing. Maybe he accept fiat and then buy some bitcoin or silver?
we must hope so.
He also has a nice high floor office in San Francisco, at least that's where I saw him last. And SF is one of the most expensive places to live.
Thanks for the mention; John is probably the #1 that rubs me the wrong way as well; though I've met him and I kind of like the guy but he seems to have enough auroa of credibility especially being focused on "the numbers" and thus extrapolating that "the numbers" show a collapse is inevitable because the status quo is unsustainable.
Well it's been sustained for a very long time. But I would say, there WOULD have been much price inflation (though food inflated, technology prices went down) but improvements in efficiency through technology and just businesses growing larger and more diverse (see amazon, netflix, google) the quality of items is better, offsetting the missed out gains in people's savings that inflation has taken.
Just looking at "the numbers" is quite misleading even if, as you disagree with, his numbers were right.
On another note, if foods up, hey I can just start growing some of my own food, and I did. and more people are. If the trend is slow enough, humans can adapt, and no incredible economic collapse is needed, even the elites don't want that. We know how to better survive :)
yes it's got me thinking.. look something doesn't feel right and these guys are right in this economy.. but these guys will be correct twice on the clock .. but that's 2 times for 24. They will be right but they fleece everyone else..
Yup, there's a big difference between being bearish, and being bearish and selling you a BS solution to a contrived problem.
Yep, Cash is Trash... So why every banker and business wants this trash LOL!!!
Yup, the classic Kiyosaki-ism...he's a damn garbage collector! :)
Can i follow both Bullishmoney and Kiyosaki? lol
Haha, sure! I have to admit that I am in awe of Kiyosaki, even though I find his shtick completely ridiculous. No man has led more white people to the peak of mediocrity than Kiyosaki, yet suburban America embraces him as one of their own! He's even married to a white woman, which should be immediate grounds for revoking the "white card."
Yet here he is, proudly displaying his white card -- even Donald Trump said he loves Kiyosaki, and Trump doesn't like Asians! -- while I'm just a "ching-chong chinaman."
America has gone insane! :)
Nice report, calling out a BS artist and a major shill