By popular demand, cats.

As posted earlier, Peter Schiff is taking it on the chin lately, and was put on blast by Mish Shedlock for not calling it right in 2008. Now, Schiff has fired back. Definitely worth reading if you’re interested in explanations of why he forecasted a drop in the dollar, why he thinks some of his theories may still pan out long-term and how Mish got his hands on the statement of an account at Euro Pacific with particularly painful losses last year.

Me, I was most interested in his defense of the DOOM:

Mainstream economists, journalists, and investment professionals have never liked my message and have never resisted the temptation to shoot the messenger. When my investment strategies were performing well, I got little credit for it. Instead, all the attention was focused on the apparent failure of my dire economic predictions to materialize. Now that the economy is collapsing along the lines that I correctly forecast, criticism is being focused on the recent poor performance of my investment strategy (a fact that I have never tried to hide). Of course by the time my investment strategy is once again in step with my economic forecasts, an event that I believe will occur sooner than most people think, it will likely be too late for most people to adopt it.

Peter Schiff also kind of dismisses Mish Shedlock as a shill, which I don’t necessarily agree with; also, Mish isn’t a “mainstream economist,” really (and I mean that in the best possible way), but I do understand that he blasted Schiff for stuff that Schiff basically admits, and I also strongly suspect Mish has many friends in the anti-dollar camp who were caught with their pants down in ’08, making that kind of fail not exactly rare.

Yeah. Schiff definitely had a bad 2008, and you kind of expect bears to be up in a bad year, or at least not massively down. In many ways, though, it sounds like the crux of his retort is “just you wait, more fail is on the horizon,” and so, just that quick, he is back in LOLFed’s good graces even if he’s evidently lost the Dr. Doom bragging rights to Roubini.