Archive for the ‘Business’ Category

Peter Schiff is my new hero

Thursday, December 20th, 2007

I was stumbling through Youtube this evening looking though various political and economic videos and came across several interviews with Peter Schiff, who is the President of Euro Pacific Capital and the author of the book Crash Proof: How to Profit From the Coming Economic Collapse.

This guy is seriously amazing - I’m ordering his book on Amazon right now. Never before that I remember have I heard a financial consultant who understands the long term issues facing us due to the rampant devaluation of our currency by the Federal Reserve. Not only does he understand these issues, but he’s also developing investment strategies based on this information. I remember some time ago that Warren Buffet said in an interview that he hated investing against the dollar, but that there was just no way to justify not doing it. Schiff takes this to a whole new level.

Check him out here:

http://www.youtube.com/watch?v=5Cg6e-peVXo
http://www.youtube.com/watch?v=xcMAweNXAvU
http://www.youtube.com/watch?v=nwLV1t_ho8s
http://www.youtube.com/watch?v=-w5pSm_BLGU

Did I mention that he’s endorsed Ron Paul for President?

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Mexican freight trucks to have unrestricted access to US highways

Saturday, August 18th, 2007

I find myself in the unusual position today of be being in agreement with Teamster’s president Jim Hoffa. Acorrding to an article on FoxNews.com, the Bush administration today pushed forward with their unpopular plan to allow many Mexican trucking companies unrestricted access to US highways, rather than requiring their cargo be transferred to a US-based freight carrier at a port of entry as has been procedure for many years.

How can congress and the Bush administration not see the obvious issues this policy will undoubtedly create? There are a number of security and immigration issues that are completely obvious here, but there are also some significant liability issues as well. Have you ever seen how people drive in most of Mexico? There are no real traffic laws - they are more like “traffic suggestions”.  I don’t believe for one second that the freight carriers there have anywhere close to the safety requirements or safety records necessary to operate here, especially since the DoT concluded they were safe based on a 10% sample of the drivers that applied.  That being said, if someone is injured or killed due to the negligent acts of a Mexican driver, will the injured party have to file an international lawsuit in order to get some kind of settlement from the trucking company or their insurance company? What’s to stop those companies or insurers from just refusing to pay and hiding behind the fact that they are a foreign entity, making it difficult or impossible to enforce any kind of judgement? This entire situation is a giant can of worms, and the lid is being peeled back as we speak…

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