ApocalypseTV (5/3/10)

In the famous "Peter Schiff Was Right" video from the fall of 2008, Peter can be seen banging the table about the subprime market's imminent collapse and the collective illusion sweeping the country that everyone can get rich by taking out a home-equity loan. He was laughed at by the CNBC intelligentsia.  

The real estate collapse isn't over -- indeed, the commerical and prime collapse are just getting started -- but we also seem to be moving into the opening rounds of a new stage in the financial crisis. This one will be market by governments going bust, along with an endless series of sovereign bailouts and defaults. Greece is just the beginning. Peter recently appeared on CNBC alongside James Galbraith, who's much worse than his father and who's arguing that Washington's 12 trillion in debt is no problemo because interest rates are so low. This clip will, no doubt, be fodder for "Peter Schiff Was Right, 2012 Edition."

Marc Faber makes great ApocalypseTV, and he's in particularly good form in this Bloomberg interview, which is actionable in that Faber puts a time table (8-12 months) on when he thinks China is going to crash. 

Regarding the Goldman Sachs hearings, almost everyone (including me) has argued that the firm will get some kind of $100-million slap on the wrist and then continue doing business much as it did before. In this interview with Eric King, Jim Rickards argues otherwise, speculating that Goldman actually could get defunded by institutional investors who won't want to be tainted. ...  It's possible.

Finally, here's Dylan Rattigan's interview of Ron Paul and Allan Grayson on banking legislation going through the House and Senate, including the Audit the Fed bill. [ht: LRC]