cheaprealty net

Peter Schiff said: "We had a dot com bubble, we had a housing bubble, you can't rely on a consumer economy, you have to produce!"

Oil has gone from $28 a barrel to $99 a barrel in the 5 years since January 2004.  Eerily, this kind of price action is seen somewhere else - yes, real estate.  However, unlike oil, there are still plenty of houses out there, and more are being built all the time. 

One panelist passes off this price action in oil as a mania.  Peter Schiff disagrees, and drops the "i" word, yes that's inflation, pure and simple.