Daniel Gross (born 1967) is an American journalist and author, a former Senior Editor at Newsweek, and since September 2010 employed at Yahoo! Finance. A native of East Lansing, Michigan, Gross graduated from East Lansing High School (1985) and Cornell University (B.A., 1989), and holds an A.M. (1991) in American history from Harvard University.^[1]

Career[link]

From 2007 through August 2010, Gross was a senior editor at Newsweek, where he wrote the "Contrary Indicator" column.^[1]

"Before joining Newsweek in the spring of 2007, Mr. Gross wrote the "Economic View" column in the New York Times, was a contributing writer to New York, and contributed regularly to magazines such as Fortune and Wired. From 1998-2007, Gross served as the editor of STERNBusiness, a semi-annual academic magazine on economics and management published by the New York University Stern School of Business".^[1]

For Newsweek Gross wrote the weekly "Contrary Indicator" column. He also wrote a twice-weekly "Moneybox" column for Slate, which also appeared on Newsweek.com.

In September 2010 it was announced that Gross was joining the staff of Yahoo! Finance^[2] where he writes a regular column.^[3] In an early Yahoo Finance column, Gross was identified as "economics editor and columnist".^[4]

Books[link]

• Forbes Greatest Business Stories of All Time (Wiley, 1997) (ISBN 0471196533)
• Bull Run: Wall Street, the Democrats, and the New Politics of Personal Finance (PublicAffairs, 2000) (ISBN 1891620290)
• Generations of Corning: 150 Years in the Life of a Global Corporation, 1851-2001 (Oxford University Press, 2001), co-authored with Davis Dyer (ISBN 0195140958)
• Pop!: Why Bubbles Are Great For The Economy (Collins, 2007) (ISBN 0061151548)
• Dumb Money: How our Greatest Financial Minds Bankrupted the Nation (Free Press, 2009). (ISBN 1439159874)
• Better, Stronger, Faster: The Myth of American Decline . . . and the Rise of a New Economy (Free Press, 2012). (ISBN 1451621280)

References[link]

External links[link]

	Biography portal
	Journalism portal

• Video debates and discussions involving Gross on Bloggingheads.tv
• Gross on Colbert Report, April 28, 2009
• Daniel Gross, "Davos Shabbos: Friday-night dinner with the machers in Switzerland," Tablet: A New Read on Jewish Life, 5 February, 2010.

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Daniel
Daniel's Answer to the King by Briton Rivière
Prophet
Born	7th Century B.C
Died	6th Century B.C Babylon (?)
Honored in	Roman Catholic Church Eastern Catholic Churches Eastern Orthodox Church Lutheranism adventism Islam[1] Armenian Apostolic Church
Major shrine	Tomb of Daniel, Susa, Iran
Feast	July 21 December 17
Attributes	Often depicted in the den of the lions

Daniel (Hebrew: דָּנִיֵּאל, Modern Daniyyel Tiberian Dāniyyêl ; Arabic: دانيال, meaning in Hebrew "God is my Judge") is the protagonist in the Book of Daniel of the Hebrew Bible. In the narrative, when Daniel was a young man, he was taken into Babylonian captivity where he was educated in Chaldean thought. However, he never converted to Neo-Babylonian ways. By Divine Wisdom from his God, Yahweh, he interpreted dreams and visions of kings, thus becoming a prominent figure in the court of Babylon. Eventually, he had apocalyptic visions of his own that have been interpreted as the Four monarchies. Some of the most famous tales of Daniel are: Shadrach, Meshach, and Abednego, The writing on the wall and Daniel in the lions' den.

Narrative of Daniel[link]

Induction into Babylon[link]

Daniel refusing to eat at the King's table, early 1900s Bible illustration

In the third year of the reign of Jehoiakim (BC 606), Daniel and his friends Hananiah, Mishael, and Azariah were among the young Jewish nobility carried off to Babylon. The four were chosen for their intellect and beauty to be trained as advisors to the Babylonian court,(Daniel 1) Daniel was given the name Belteshazzar, i.e., prince of Bel, or Bel protect the king!(not to be confused with the neo-Babylonian king, Belshazzar). Hananiah, Mishael, and Azariah were given the Babylonian names, Shadrach, Meshach, and Abednego, respectively.^[2]

Daniel and Nebuchadnezzar[link]

In the narrative of Daniel chapter 2, it is the second year of the reign of Nebuchadnezzar and the king is distressed by his dreams.^[v.1] Thus he summons his interpreters,^[v.2] however, they are unable to relay or interpret the dreams.^[v.10-11] The King acts in fury and demands the execution of all the wise men in Babylon.^[v.12] When Daniel discovers the King's executive order, he requests from the captain of the guard, Arioch, to see the King.^[v.13-16] Daniel prays for God’s mercy to receive a revelation from the King’s dream.^[v.15-18] God then reveals the mystery to Daniel in a vision that night.^[v.19] Daniel praises his God with a doxology.^[v.20-23] After meeting with Arioch again, Daniel is granted access to the king^[v.24-30] and relays the description of the dream,^[v.31-36] followed by its interpretation.^[v.37-45] With Daniel's successful interpretation of the dream, the king expresses homage,^[v.46] followed by his own doxology that affirms that Daniel's God is God of gods for revealing this mystery of his dream.^[v.47] Daniel is then promoted as chief governor over the whole province of Babylon.^[v.48] At Daniel’s request, his companions are also promoted, thus they remain at the king’s court.^[v.49][3]

Nebuchadnezzar's madness[link]

Nebuchadnezzar recounts a dream of a huge tree which is suddenly cut down at the command of a heavenly messenger. Daniel is summoned and interprets the dream. The tree is Nebuchadnezzar himself, who for seven years will lose his mind and become like a wild beast. All of this comes to pass until, at the end of the specified time, Nebuchadnezzar acknowledges that "heaven rules" and his kingdom and sanity are restored and his kingdom is restored to him.

Daniel and Belshazzar[link]

In Daniel's later years, king Belshazzar holds a great feast for all his nobles. In a drunken state, the king calls for the sacred vessels captured from the Jerusalem temple and blasphemously drinks from them. Suddenly, the fingers of a man's hand appear before the king and write on the wall of the palace. When none of his wise men are able to interpret the message, Daniel is called in at the suggestion of the queen-mother. After reprimanding the king for his impiety, Daniel interprets the handwriting on the wall to mean that Belzhazzar is about to lose his kingdom to the Medes and the Persians. For successfully reading the cryptic handwriting, Daniel is rewarded with a purple robe and elevated to the rank of "third ruler" of the kingdom. "That very night", we are told, "Belshazzar, king of the Babylonians, was slain" and his successor was King Darius the Mede, aged 62.

Daniel in the Lion's den protected by an angel by François Verdier

Daniel and Darius the Mede[link]

After the Persian conquest of Babylon, Daniel is depicted as one of three senior administrators of the empire in the reign of Darius the Mede. When the king decides to set Daniel over the whole kingdom, the other officials plot his downfall. Unable to uncover any corruption, they use Daniel's religious devotion to defeat him. The officials trick the king into issuing an irrevocable decree that no god is to be worshiped for a thirty day period. When Daniel continues to pray three times a day towards Jerusalem, he is thrown into a den of lions, much to the distress of Darius. After an angel shuts the lions' mouths, Daniel is delivered and his opponents thrown into the den where they are devoured instantly.

Daniel's visions[link]

Daniel's ministry as a prophet began late in life. Whereas his early exploits were a matter of common knowledge within his community, these same events, with his pious reputation, serve as the basis for his prophetic ministry. The recognition for his prophetic message is that of other prophets like Isaiah, Jeremiah and Ezekiel whose backgrounds are the basis for their revelations.

From Chapter 7 to the end of the book of Daniel, an apocalyptic vision is being described, supposedly from the perspective of Daniel.^[2] This marks a change in the narrative from Daniel interpreting to messengers of God interpreting for Daniel. Daniel dreams of four beasts that come out of the sea: a lion with eagles wings, a bear with three tusks, a leopard with four wings and four heads, and a beast with iron teeth, ten horns and one little horn and human eyes.(Daniel 7:4-8) These beasts are all present at a convening of the divine counsel. Presiding over the counsel is the Ancient of Days, which may, in fact, be the Israelite God.^[2] The Ancient One proceeds to put to death the beast with the one little horn. (Daniel 7:9-11) Daniel also describes the fates of the other beasts saying that while their dominion was taken away, their lives were prolonged. (Daniel 7:12) This introduction leads into a series of dreams and visions where these events are expressed in greater detail.

Scholars argue that each of these beasts represent an emperor or kingdom that ruled over the Israelites. The first being Babylon, then Media, then Persia, and finally the Greeks. The horns of the last beast may be symbolic of the rulers that replaced Alexander the Great upon his death, culminating with the little horn, or Antiochus IV.^[2] There are additional details in the text that allude to Antiochus IV, including some form of desecration to the temple (Daniel 11:31) and persecution (Daniel 11:23).^[2] The final message of the second half of Daniel is that God will deliver the people from oppression, the latest of which is Antiochus IV.^[2]

Daniel's final days[link]

The time and circumstances of Daniel's death have not been recorded. However, tradition maintains that Daniel was still alive in the third year of Cyrus according to the Tanakh (Daniel 10:1). He would have been almost 100 years old at that point, having been brought to Babylon when he was in his teens, more than 80 years previously. Many^[who?] posit that he possibly died at Susa in Iran. Tradition holds that his tomb is located in Susa at a site known as Shush-e Daniyal. Other locations have been claimed as the site of his burial, including Daniel's Tomb in Kirkuk, Iraq, as well as Babylon, Egypt, Tarsus and, notably, Samarkand, which claims a tomb of Daniel (see "The Ruins of Afrasiab" in the Samarkand article), with some traditions suggesting that his remains were removed, perhaps by Tamerlane, from Susa to Samarkand (see, for instance, Itinerary of Benjamin of Tudela, section 153).

References to Daniel[link]

Tomb of Daniel at Susa, Iran.

Book of Ezekiel[link]

The prophet Ezekiel, with whom Daniel was a contemporary, describes a Daniel as a "pattern of righteousness" in the Book of Ezekiel 14:14, 20 and "wisdom" (28:3).^[4] In the Book of Daniel, the name is spelled with a middle letter suggesting the i of that name — but this letter is not included in Ezekiel,^[5] suggesting that the reference there may be to another person, possibly the "Danel" ("Judgement of God") known from Caananite Ugaritic literature (such as the Epic of Aqhat and Anat), whose reputation for wisdom and righteousness had made him legendary. (Vowel-points were not added to the consonantal Hebrew text before well into the Common Era, and the scribes may then have slipped in a vowel-point for "i" as a middle syllable.)

Bel and the Dragon[link]

In the Deuterocanonical portion of Daniel known as Bel and the Dragon, the prophet Habakkuk is miraculously transported by an angel to take a meal to Daniel while he is in the lions' den. In response, Daniel prays, "Thou hast remembered me, O God; neither hast thou forsaken them that seek Thee and love Thee".^[6]

Six tombs of Daniel[link]

There are six different locations claiming to be the site of the tomb of the biblical figure Daniel: Babylon, Kirkuk and Muqdadiyah in Iraq, Susa and Malamir in Iran, and Samarkand in Uzbekistan.

Religious perspectives[link]

Rabbinic literature[link]

According to Rabbinical tradition, Daniel was of royal descent; and his fate, together with that of his three friends, Hananiah, Mishael, and Azariah, was foretold by the prophet Isaiah to King Hezekiah in these words, "and they shall be eunuchs in the palace of the king of Babylon".^{Isaiah 39:7[7][8]}

According to this view, Daniel and his friends were eunuchs, and were consequently able to prove the groundlessness of charges of immorality brought against them, which had almost caused their death at the hands of the king.^[8]

Daniel on the window in the church of St Daniel in Celje (Slovenia)

Islamic views[link]

Muslims traditionally consider Daniel (Arabic: دانيال, Danyal) as an Islamic prophet, alongside the other major prophets of the Old Testament. Although Daniel is not mentioned in the Qur'an, there are accounts of Daniel's life which feature in later Muslim literature. There are debates, however, that go on about Daniel's time of preaching and some Muslims believe that he was not a prophet but a saintly man. Daniel is listed as a prophet in all major versions of Stories of the Prophets.^[9] When the Muslims conquered Alexandria in 641 C.E, a mosque was immediately built dedicated to Daniel.^[10]

Muslim literature[link]

Muslim exegesis, including Tabari's History of the Prophets and Kings narrates that Daniel was carried off to Babylon after Nebuchadnezzar's attack on Jerusalem. It goes onto state that there he was thrown into the den of the lions, but was later rescued. In one such account, Daniel is aided by Jeremiah, who comes to Babylon to help Daniel in the lions den.^[11] In the apocryphal Bel and the Dragon, however, there is a very similar tale which states that the Hebrew prophet Habbakuk was miraculously transported to the den of the lions, to give a meal to Daniel.

All sources, classical and modern, describe Daniel as a saintly and spiritual man. Abdullah Yusuf Ali, in his Qur'anic commentary says:

Daniel was a righteous man of princely lineage and lived about 506-538 B.C. He was carried off to Babylon by Nebuchadnezzar, the Assyrian, but was still living when Assyria was overthrown by the Medes and Persians. In spite of the "captivity" of the Jews, Daniel enjoyed the highest offices of state at Babylon, but he was ever true to Jerusalem. His enemies (under the Persian monarch) got a penal law passed against any one who "asked a petition of any god or man for 30 days" except the Persian King. But Daniel continued true to Jerusalem. "His windows being open in his chambers towards Jerusalem, he kneeled upon his knees three times a day, and prayed, and gave thanks before his God, as he did aforetime."

—Abdullah Yusuf Ali, The Holy Qur'an: Text, Translation and Commentary^[12]

Commemorations[link]

Eastern Orthodox commemorations[link]

On the Eastern Orthodox liturgical calendar, the feast days celebrating St. Daniel the Prophet together with the Three Young Men, falls on December 17 (during the Nativity Fast), on the Sunday of the Holy Forefathers^[13] (the Sunday which falls between 11 and 17 December), and on the Sunday before Nativity.^[14] Daniel's prophesy regarding the stone which smashed the idol (Daniel 2:34-35) is often used in Orthodox hymns as a metaphor for the Incarnation: the "stone cut out" being symbolic of the Logos (Christ), and the fact that it was cut "without hands" being symbolic of the virgin birth. Thus the hymns will refer to the Theotokos (Virgin Mary) as the "uncut mountain"

Roman Catholic Commemorations[link]

The Roman Catholic Church commemorates St. Daniel in the Roman Martyrology on July 21.^[15] However, his commemoration at Mass occurs only on local calendars of particular dioceses, sometimes on July 21 and sometimes on another day. For example, the archdiocese of Gorizia celebrates the feast of St. Daniel, prophet and confessor, on September 11. The reading of the Mass is taken from the Book of Daniel, chapter 14; the Gradual from Psalm 91; the Alleluia verse from the Epistle of James 1; and the Gospel from Matthew 24.^[16]

Coptic Church Commemoration[link]

The prophet is commemorated in the Coptic Church on the 23rd day of the Coptic month of Baramhat.^[17]

Protestant Commemorations[link]

He is commemorated as a prophet in the Calendar of Saints of the Lutheran Church - Missouri Synod together with the Three Young Men (Shadrach, Meshach, and Abednego), on December 17.^[18]

Chapters of the Book of Daniel
1: Induction into Babylon 2: Nebuchadnezzar's dream of an image 3: The fiery furnace 4: The madness of Nebuchadnezzar 5: Belshazzar's feast 6: Daniel in the lions' den 7: Daniel's first vision 8: Vision of the ram and goat 9: Prophecy of Seventy Weeks 10: Vision of a man 11: Kings of the North and South 12: Epilogue
v t e

See also[link]

Saints portal

• Book of Daniel
• List of names referring to El
• Nebuchadnezzar II, King of Neo-Babylon
• Arioch, Captain of the guard
• Hananiah, Mishael, and Azariah, Daniel's narrative companions
• Belshazzar, possible last King of Neo-Babylon
• Darius the Mede
• Cyrus the Persian, King of Achaemenid Empire
• Ezekiel, Daniel's narrative contemporary
• Persian Jews
• Apocalypse of Daniel

References[link]

• James B. Jordan (1995). "Daniel: Historical & Chronological Comments (II)" (– ^{Scholar search}). Biblical Chronology 7 (1). http://www.biblicalhorizons.com/ch/ch7_01.htm. ^{[dead link]}
• Francis E. Gigot (1889). "Daniel". Catholic Encyclopedia on CD-ROM. New Advent. http://www.newadvent.org/cathen/04620a.htm. 
• T. E. Gaston (2009). Historical Issues in the Book of Daniel. Taanathshiloh. 

External links[link]

• Book of Daniel (Biblical Passage)
• Daniel by Rob Bradshaw Detailed dictionary-style article.
• Daniel in the TaNaKh Detailed authorized Jewish translation of the original

Wikisource has original 1897 Easton's Bible Dictionary text related to:

Daniel

• Who is Ezekiel's Daniel? : The Ugaritic Danel
• Daniel 11 in Context Overview of the allusions to the Syrian Wars in Daniel 11

Peter Schiff

Austrian School
Born	(1963-03-23) March 23, 1963 (age 49)
Nationality	United States
Field	Financial Economics
Alma mater	U.C. Berkeley (B.B.A.), 1987[1]
Opposed	John Maynard Keynes,[2] Alan Greenspan,[3][4][5] Ben Bernanke,[6][7][8] Paul Krugman,[9] Christopher Dodd,[10] Barack Obama,[11]
Influences	Irwin Schiff, Ludwig von Mises, F.A. Hayek, Murray Rothbard

Peter David Schiff (pronounced /ˈʃɪf/; born March 23, 1963) is an American businessman, investment broker, author and financial commentator. Schiff is CEO and chief global strategist^[1] of Euro Pacific Capital Inc., a broker-dealer based in Westport, Connecticut^[12] and CEO of Euro Pacific Precious Metals, LLC, a gold and silver dealer based in New York City.^[13]

Schiff frequently appears as a guest on financial television and is often quoted in major financial publications. He is host of The Peter Schiff Show, a radio show broadcast on terrestrial and internet radio. He is a frequent guest on internet radio^[14][15][16] as well as the host of the former podcast Wall Street Unspun.^[14][17] In 2010 Schiff ran as a candidate in the Republican primary for the United States Senate seat from Connecticut.^[18]

Schiff is known for his bearish views on the dollar and dollar denominated assets, while bullish on investment in tangible assets as well as foreign stocks and currencies.

Early life and education[link]

Peter Schiff was born and raised in New Haven, Connecticut. His father, Irwin Schiff, is a prominent figure in the U.S. tax protester movement, currently serving a 13-year sentence for tax evasion.^[19] Peter Schiff attended Beverly Hills High School in California,^[20] and graduated from the University of California, Berkeley in 1987 with a Bachelor's degree in finance and accounting.^[1]

Financial career[link]

Schiff began his career as a financial consultant at a Shearson Lehman Brothers brokerage.^[1] In 1996 Schiff and a partner acquired a small brokerage firm that had been founded in 1980, reincorporated it in California and renamed it Euro Pacific Capital.^[21][22] The company today has more than 15,000 clients^{[citation needed]} and six offices nationwide, with its headquarters in Westport, Connecticut.^[12][21][23]

According to a 2005 article in The Advocate of Stamford, Connecticut Schiff relocated the firm to Darien, Connecticut to find brokers "who think like him". The New York Metropolitan Area, Schiff says, has the biggest concentration of brokers in the country, making it easier to recruit employees.^[24] The company has offices in Newport Beach, California as well as in Scottsdale, Arizona, Palm Beach, Florida, Los Angeles and New York City. Euro Pacific Capital also holds the exclusive rights to broker some Perth Mint gold products in the United States.^[25]

Economic forecasts[link]

Peter Schiff voices strong support for the Austrian School of economic thought, first introduced to him by his father.^{[26][27][28][29]}

2002–2008[link]

In his 2007 book Crash Proof, Schiff wrote that United States economic policies were fundamentally unsound, and predicted that the United States dollar would lose much of its value.^[3] Schiff believed that the imbalance between the amount of goods the U.S. consumed and what it produced would eventually lead to problems for the U.S. economy.^[30][31] As a remedy Schiff favored increased personal savings and production which he said would stimulate economic growth.^[32] Schiff cited the U.S.'s low personal savings rate as one of the causes of its transformation from the world's largest creditor nation in the 1970s to the largest debtor nation in the year 2000.^[33] Schiff attributed the low savings rate to higher inflation and the artificially low interest rates set by the Federal Reserve.^[34]

In a May 2002 interview with Southland Today, Schiff predicted that the economic downturn triggered by the bursting of the dot-com stock market bubble, an event that he had also forecast well in advance, would lead to a bear market likely to last "another 5 to 10 years."^[35][36] Later that year, following a 30% decline in the Dow Jones, Schiff reversed his call, and became bullish on U.S. stocks in nominal terms. However, he remained bearish in gold terms. In November 2002, as Schiff predicted, US stock indexes began a nominal bull market uptrend that held steady for five years,^[37] until reversing course in 2008, when they began a decline to less than half of their peak 2008 values,^[38] followed in 2009 by the Dow climbing 61% from its low point over the following year.^[39] However, priced in gold, U.S. stocks remained in a bear market the entire time. In May of 2002, the date of the Southland Today interview,^[40] the Dow Jones was worth over 34 ounces of gold. By 2011 the Dow fell below 6 ounces of gold, a nine-year decline of over 80%, in line with Schiff’s 2002 forecast.^[41]

In an August 2006 interview he said: "The United States economy is like the Titanic and I am here with the lifeboat trying to get people to leave the ship... I see a real financial crisis coming for the United States."^[42] On December 31, 2006 in debate on Fox News, Schiff forecast that "what's going to happen in 2007" is that "real estate prices are going to come crashing back down to Earth".^[42]

As part of these exchanges on Fox News and his repeated appearances on financial news network CNBC, Schiff had mentioned factors such as speculators and "the absence of lending standards" which are now seen by many^[43][44] to indeed be contributing factors to the housing crisis which began in 2007. On December 13, 2007 in a Bloomberg interview on the show Open Exchange, Schiff further added that he felt that the crisis would extend to the credit card lending industry.^[45] Following this observation, it was soon reported on December 23, 2007 by the Associated Press that "The value of credit card accounts at least 30 days late jumped 26 percent to $17.3 billion in October from a year earlier at 17 large credit card trusts examined by the AP... At the same time, defaults -- when lenders essentially give up hope of ever being repaid and write off the debt -- rose 18 percent to almost $961 million in October, according to filings made by the trusts with the Securities and Exchange Commission."^[46]

Since 2007, Schiff has stated many times that if the government doesn't change course there will be hyperinflation in the US.^[3] Schiff is one of a minority of economists credited with accurately predicting the financial crisis of 2007–2010 while "nearly all [macroeconomists] failed to foresee the recession despite plenty of warning signs".^[47][48] In his book Crash Proof, he described several aspects of the U.S. economy that would lead to a recession.^[3]

A YouTube video entitled "Peter Schiff was right" became popular in late 2008 and 2009.^[49][50] The video consists of a compilation of clips of his many appearances on various financial news programs from networks including CNBC, Fox News, MSNBC and Bloomberg, most of which took place from 2005 to 2007. In the video segments Schiff explains the fundamental problems he saw with the United States economy at that time. Schiff's warnings of a coming economic collapse earned him the moniker "Dr. Doom."^[22][51][52]

2009–present[link]

Despite predictions regarding the housing bubble and automotive industry difficulties coming to fruition, as early as 2009 Schiff was receiving criticism due to the performance of some of his client's accounts in 2008, as well as controversies over the predictions themselves. In January 2009, economic blogger and investment adviser Michael Shedlock reported, "I have talked with many who claim they have invested with Schiff and are down anywhere from 40% to 70% in 2008."^[53] Later that week an article appeared in the Wall Street Journal reporting that Schiff's broker-dealer firm, Euro Pacific Capital Inc., "advised its clients to bet that the dollar would weaken significantly and that foreign stocks would outpace their U.S. peers" and that instead, the dollar advanced against most currencies, "magnifying the losses from foreign stocks Mr. Schiff steered his investors into."^[54]

The Director of Communications at Schiff's investment firm responded to the original Shedlock piece by saying, "While it is true, that our accounts have suffered badly in 2008, a fact that we have never disputed or ran from, [Shedlock's] estimates for the size of our typical client losses are exaggerated and unfair."^[55][56] Schiff personally responded to Shedlock's criticism by saying, "to examine the effectiveness of my investment strategy immediately following a major correction by looking only at those accounts who adopted the strategy at the previous peak is unfair and distortive" and called Shedlock's blog entry "nothing more than an overt advertisement (and a highly deceptive one at that) to use my popularity to advance his career," adding that losses were felt mostly by recent clients and not by others.^[57]

Schiff responded similarly to criticisms made by Wade Slome of Sidoxia Capital Management, LLC. in a September 2009 blog entry entitled, "The Emperor Schiff Has No Clothes."^[36] Schiff stated not only were the losses suffered by his clients in 2008 highly exaggerated, but also that most of those losses have already been recouped, stating that many who were down then are now up, and most long-term clients were never down at all, but merely temporarily lost some of the profits they had earned over the years.^[36]

The January 2009 Wall Street Journal article discussed the value of Schiff's predictions, and stated how deficiencies "made mincemeat of investors who took his advice in 2008."^[54] In an interview the following week Schiff likened himself to billionaire investor Warren Buffett, saying they were both "buy and hold" long-term investors. Contrasting his negative press he compared claims about accounts managed under Schiff's firm to the stock market value of Buffett's company, saying: "His approach is you buy stocks and you never sell them—you hope to never sell them—and Berkshire Hathaway is down 40% in the last thirteen months; I don't see the Wall Street Journal saying 'Warren Buffett made mincemeat out of his clients.'"^[58] The Wall Street Journal also published a letter written by Schiff in response to his critics saying: "My central investing premise, a weakening dollar and safety in gold, commodities and foreign stocks, didn't materialize in 2008. But all the ingredients were (and remain) present for those movements to occur. Over the past year, market reactions that I didn't foresee—massive global deleveraging, a knee-jerk 'flight to quality' into U.S. Treasuries and a sharp counter trend rally in the U.S. dollar—have kept the scenario from playing out."^[59]

In a November 2009 videoblog, Schiff said that five stocks he picked for Fortune Magazine in January 2009 had gained a total of 360%.^[60][61]

In a March 2009 speech Schiff said that it would be impossible for the U.S. debt to China to be repaid unless the U.S. dollar's value is substantially diluted through inflation. In September 2009 Schiff said that "I would not be surprised to see [gold] at $5,000 over the next several years" and that the 2009 stock market rally was a "bear market rally".^[62]

According to economist Paul Krugman, Schiff's Austrian approach to economics led him to incorrectly predict hyperinflation in the United States.^[63]

Political career[link]

Schiff was an economic adviser to Ron Paul's 2008 presidential campaign. In support of Paul's economic revitalization plan, he said: "We need a plan that stimulates savings and production, not more of the reckless borrowing and consumption that got us into this mess in the first place. Ron Paul's plan is the only one that amounts to a step in the right direction. If you want meaningful change—for the better that is—Ron Paul is the only candidate capable of delivering it."^[64]

In 2008, Schiff also endorsed Murray Sabrin for the U.S. Senate seat in New Jersey.^[65]

In an interview in February 2009, Schiff's position was summarized as a nonpartisan critique of American policymakers, comparing former presidents George W. Bush to Herbert Hoover and President Barack Obama to former president Franklin D. Roosevelt, with neither of the more recent incumbents comparing favorably to the earlier ones.^[66]

Schiff supports the reduction of government economic regulation, and is concerned that President Obama's administration may increase such regulation.^[67] Schiff says that the economic crisis of the late-2000s provides an opportunity to transition from borrowing and spending, to saving and producing. He is critical of the U.S. government's efforts to "ease the pain" with economic stimulus packages and bailouts. According to Schiff, the U.S. government's approach of replacing "legitimate savings with a printing press" could result in hyperinflation.^[68]

2010 U.S. Senate campaign[link]

In December 2008, Connecticut citizens created a website encouraging Schiff to campaign against the incumbent Senator Christopher Dodd.^[69][70] Approximately 5,000 people made campaign contributions using the web site.^[69] On February 21, 2009, a moneybomb raised over $20,000 for Schiff's campaign.^[71] In a May 2009 video blog, Schiff said that he was seriously considering a run for the senate and when questioned by a Washington Post reporter, he said the chance of him entering politics was "better than 50-50".^[72] In June 2009 Schiff commissioned a poll of likely voters which indicated that he trailed Dodd in popularity by four percentage points.^[73] On July 9, 2009, Schiff launched an exploratory committee and an official campaign website.^[69] He began accepting donations in an attempt to see if "people who really believe in freedom, liberty, sound money and the constitution are prepared to support that with an actual political contribution or to volunteer their services and work on this campaign." He received over 10,000 donations and many e-mails from around the world.^[69]

After giving some hints on The Daily Show^[74] Schiff officially announced his candidacy for the Republican nomination on September 17, 2009, during the MSNBC Morning Joe show.^[18][75][76] By October 2009 Schiff had received more than 10,000 telephone calls and letters^[69] and raised over $1,960,000 (USD) in campaign contributions.

At the May 2010 Republican convention, Linda McMahon received the most delegate votes but not enough to prevent an August primary election. U.S. Rep. Rob Simmons received more than the required 15 percent of the total votes necessary to force the primary. Schiff then collected the signatures necessary to earn a position on the August 2010 GOP primary ballot, submitting at least 400 signatures over the state requirement.

In July 2010, Schiff's campaign received endorsements from Steve Forbes and Ron Paul.^[77][78]

In the Republican primary, held on August 10, 2010, Schiff lost the nomination to Linda McMahon.^[79] McMahon collected 49% of the vote, with Simmons on 28% and Schiff 23%.^[80]

Ultimately, the election was won by the Democratic Party primary winner, Richard Blumenthal.^[81]

Broadcasting[link]

From 2005 to 2010 Schiff hosted a weekly podcast named Wall Street Unspun. In October 2010 Schiff began hosting a new radio show named The Peter Schiff Show. The show is broadcast weekdays from 10am-noon ET on internet and terrestrial radio. The show has featured guests such as Ron Paul, Rand Paul, Niall Ferguson, Dennis Kucinich, Rick Santelli, and others.^[82]

Books[link]

Peter Schiff is the author of six books published by John Wiley & Sons. His book, Crash Proof 2.0, appeared on both the New York Times and Wall Street Journal bestseller lists.

• Crash Proof: How to Profit From the Coming Economic Collapse, February 2007, ISBN 978-0-470-04360-8 1
• The Little Book of Bull Moves in Bear Markets: How to Keep your Portfolio Up When the Market is Down, 2008, ISBN 978-0-470-38378-0 2
• Crash Proof 2.0: How to Profit From the Economic Collapse, 2nd Edition, September 2009, ISBN 978-0-470-47453-2 3
• The Little Book of Bull Moves, Updated and Expanded: How to Keep Your Portfolio Up When the Market Is Up, Down, Or Sideways, 2010, ISBN 0-470-64399-4 4
• How an Economy Grows and Why it Crashes, 2010, ISBN 978-0-470-52670-5 5
• The Real Crash: America's Coming Bankruptcy---How to Save Yourself and Your Country, 2012, ISBN 978-1-250-00447-5

References[link]

External links[link]

Wikimedia Commons has media related to: Peter Schiff

Wikiquote has a collection of quotations related to: Peter Schiff

• Euro Pacific Capital US Brokerage Firm Website
• Euro Pacific Precious Metals Coin Company Website
• Schiff for Senate Official Campaign Website
• Peter Schiff Online, Official book site for Peter Schiff
• Peter Schiff radio, Schiff's daily radio show
• Peter Schiff's Official YouTube channel

This article is an orphan, as few or no other articles link to it. Please introduce links to this page from related articles; suggestions may be available. (December 2009)

Dan Gross is an American journalist who writes a gossip column for the Philadelphia Daily News. ^[1] His work has previously appeared in magazines such as Rolling Stone and Anthem and he published two fanzines, Scenester! and Deal With It, in the 1990s.^[2] Gross is a graduate of Lower Merion High School and Temple University. In 2009 he became President of The Newspaper Guild of Greater Philadelphia Local 10.^[3] Gross formerly played bass in the band None More Black and is currently a member of Renegade.

Notes[link]

1. ^ http://www.philly.com/dailynews/columnists/dan_gross/
2. ^ http://www.phillymag.com/articles/player_dan_gross/
3. ^ http://www.nbcphiladelphia.com/news/local-beat/InquirerDaily-News-Parent-Files-for-Bankruptcy.html

This article about a United States journalist is a stub. You can help Wikipedia by expanding it. v t e

William Elder (September 22, 1921 – May 15, 2008)^[1] was an American illustrator and comic book artist who worked in numerous areas of commercial art but is best known for a zany cartoon style that helped launch Harvey Kurtzman's Mad comic book in 1952.

Elder's signature style, with extra humorous detail added upon humorous detail, is routinely described as "chicken fat," a reference to soup preparation. As Elder told an interviewer, "The term just came out of what we both [Kurtzman and Elder] knew were the parts of the strip that gave it more flavor but did very little to advance the storyline. That's what Chicken Fat does... it advances the flavor of the soup and, as we all know now, too much chicken fat will kill you!"^[2]

Elder's rampant insertion of background gags set the tone for the comic book, quickly spreading into the panels of his fellow artists and Mad's imitators. Kurtzman described their collaborative process: "I would write a story, and as if by magic, all the empty spaces would get filled in by sub-jokes... he was an inexhaustible source." Monty Python's Terry Gilliam said of Elder, "I don't know if anybody's really worked at that level as intensely as Willy did. And it never seemed to distract from the center." 21st-century Mad cartoonist Evan Dorkin put it more simply: "If God is in the details, Will Elder channeled God."^[3]

Elder also drew for EC's other humor comic, Panic. His illustrated version of Clement Clarke Moore's "T'was the Night Before Christmas" included several irreverent images, including a "Just Divorced!" sign hanging on the back of Santa Claus' sleigh. As a result, sales of Panic were banned in the state of Massachusetts.^[4] Elder included a self-caricature as he is spun around on Santa Claus' hip when Santa "filled all the stockings; then turned with a jerk."

Sense of humor[link]

Elder was known as an inveterate prankster. As a child, he once cut out paper silhouettes of a man carrying a knife and a woman. Attaching them to a rotating record turntable, he projected their image onto the windowshade, and began screaming. People on the outside of the building saw what they thought was an assailant chasing his victim around the room.^[5] EC colorist Marie Severin recalled, "Will used to have this painting of a deer... I guess it was one of those 5-and-10-cent store things. It had a deer, a mountain, some trees, a path, flowers and the like, and he'd change it with the seasons! If it was winter he'd paint snow on the deer, and then he would paint over that and put the sun out for the springtime with flowers coming up." Kurtzman recounted the time Elder and his playmates found a stock of fresh meat as a child: "These kids collected a bunch of clothes and they dressed the meat in clothes and spread the combination of meat and clothes along the right-of-way for about half a mile on the railroad tracks. Then Willy started shrieking at the top of his voice that Mikey had fallen down onto the railroad tracks. Naturally every woman for miles around who had a son named Mike went out of their mind, seeing this mess of clothes and meat along the tracks... This is the kind of kid that Willy was."^[6] Years later, Elder still had a gruesome side to his humor, sending his wife a heart from a slaughterhouse as a Valentine's Day gift.

By all accounts, Elder's humor was compulsive. Al Jaffee described a portrait Elder once painted of his son: "It was a beautiful painting. It was all in very somber blues and black tones, very dark and brooding. After he finished it, he couldn't resist putting two little red dots on the kid's neck, as if a vampire had been there. He was always driven by the notion that something should be funny."

[edit] Post-Mad career

Elder collaborated frequently throughout his career with Kurtzman. After leaving Mad in 1957, the two worked together on a string of short-lived humor magazines: Trump, Humbug and Help!. For Help!, Elder and Kurtzman created Goodman Beaver, a well-meaning naif whose trust in human nature and goodness were forever being undercut. One installment depicted the characters of Archie Comics as thoughtless hedonists, and was titled "Goodman Beaver Goes Playboy!". This parody resulted in a lawsuit from Archie Comics. Kurtzman and Elder had previously irritated the Archie publisher with a parody in Mad ("Starchie!"). Archie Comics ended up with possession of the story's copyright. When the full Goodman Beaver series was reprinted by Kitchen Sink Press, the story could not legally be included. However, after Archie Comics failed to renew its copyright, the original "Goodman Beaver Goes Playboy!" went into public domain and was published in Fantagraphics' Comics Journal. Elder later talked to The Comics Journal about the Goodman Beaver series, saying, "It was the best thing I ever did."

While the owners of Archie had taken offense, the owner of Playboy did not. Hugh Hefner, a fan of Kurtzman and "Goodman Beaver", commissioned Kurtzman and Elder to create a similar but more lavish strip for Playboy. The result was Little Annie Fanny. Like Goodman Beaver, Little Annie Fanny was a pure-of-heart innocent; unlike him, she was regularly divested of her clothing. The Annie Fanny series (107 stories in all) was irregularly published in the back of Playboy for more than a quarter of a century from October 1962 through September 1988. In 2001, Dark Horse Comics published the trade paperback collections Playboy's Little Annie Fanny, Volume 1" (ISBN 1-56971-519-X) and Playboy's Little Annie Fanny, Volume 2: 1970–1988 (ISBN 1-56971-520-3).

Elder's advertising art, caricatures, cartoons, illustrations and stories were collected in the 392-page career retrospective, Will Elder: The Mad Playboy of Art (Fantagraphics, 2003; ISBN 1-56097-603-9). The follow-up book, Chicken Fat (also by Fantagraphics), was published in 2006 and compiles drawings, sketches, cartoons and doodles by Elder, most of which had never been published. In 2009, Fantagraphics published a complete boxed collection of Humbug.

Elder died on May 14, 2008 from complications due to Parkinson's disease.

See also[link]

• List of cartoonists
• List of illustrators

References[link]

External links[link]

• Complete list of Elder's work for MAD Magazine
• Chicken Fat: A Documentary (official page). WebCitation archive.
• Archive of Tubbs, Keith E. "Part II - A Conversation With Willy" (Will Elder interview), MadMublings.com, January 16, 2005. Original page.
• Groth, Gary. "The Will Elder Interview", The Comics Journal #243, May 2002. WebCitation archive.
• Grimes, William. "Will Elder, Cartoonist of Satiric Gifts and Overpopulated Scenes, Dies at 86", The New York Times, May 18, 2008. WebCitation archive