Peter Schiff, in 2006 predicted crash.

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Comment by George Roberts on June 16, 2009 at 5:52pm
Great video! I believe that there has been too much emphasis on consumer spending since Keynes. It is Investment, not spending that provides the capital which creates jobs and stimulates the economy. True investment requires saving and cannot be "faked" by inflating the money supply through the Fed, fractional reserve banking or deficit spending. Attempting to do so leads to the "malinvestment" Schiff speaks of, namely the "housing bubble". The importance of saving is, for me underscored by the "bricklayer analogy" explained here .

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