Invest Intelligence When It Realy Matters
Peter Schiff: Wrong on the Economy, Wrong on Healthcare (Part 2)
Lesson #5: Extremists are Always Useless and Often Dangerous
Certainly, President Obama is not going about things in a manner I would advise. But Peter, you cannot use his extremist approach (or I should say that of Larry Summers and others who are really running the show) to validate your own extremist views of the “dangers” of prudent and accountable regulation; something the United States has not had in decades.
It appears as if Mr. Schiff possesses the same flaw as many others who sometimes hit the target after countless years of shooting. In the meantime, they miss out on many years of easy money.
What’s worse, once they finally hit the target, they never hit the bulls-eye due to their persistently extreme views which are centered more on sales and marketing than credible analysis. And if you can’t hit the bulls-eye you will seldom win. This also applies to the investment process.
Extremists are never good for anyone. In fact, they’re often dangerous, whether they’re from the “no government” or “complete government” intervention camp. As with everything, the real answer lies somewhere in between.
Moderation is always the best solution. But being the great salesmen that he is, Mr. Schiff realizes that most people can more easily grasp extreme viewpoints because such arguments are cut and dry, lacking complexity. Unfortunately, they often lack validity.