The Fed Deserves Credit For the Crisis

The economic meltdown of 2008 should have surprised no one. Countless economists who belong to the Austrian School of economics saw it coming. Investment mavens Jim Rogers, Peter Schiff and James Grant—all proponents of the Austrian School—were among the very few who predicted the economic meltdown. Peter Schiff was literally laughed at multiple times on national television by media pundits for saying that an economic collapse was on the horizon in 2006 and 2007.