Posted on 06/12/2012 7:06:17 AM PDT by appeal2
www.FinancialSurvivalNetwork.com presents:
Peter Schiff joined us again for a discussion of his latest book, The Real Crash. While much of what Peter predicted in his prior books has come to pass, the ultimate crash has yet to happen. And judging from his recent testimony at Congress, the elected representatives do not have a clue what’s going and what their previous policy blunders are causing. It is evident that they have absolutely no conception of economic realities and that every dollar the government spends is forcibly removed from the private sector, thereby decreasing economic activity and lowering incomes and taxes that eventually get paid. And because they are unwilling or unable to understand these effects, the crash gets closer and closer. How many people Peter will eventually be credited with saving is anyone’s guess, but he must be given credit for sounding the alarm bells earlier than just about anyone else.
bump for later listen...
An unreasonable request I suppose, but I wish Schiff or someone, could tell us approximately WHEN the manifestations of this historically unprecedented national debt are going to finally come home to roost.
The diseased US economy goes 1 million dollars deeper in the hole every minute.
The Fed determines the number and frequency of kicks and the Congress determines the weight of the can being kicked so it’s hard for Schiff to predict the exact date that it reaches the end of the road.
One of the basic premises underpinning our Federal Constitution was the Founding Fathers understanding that honest money was basic both to the preservation of liberty & the promotion of a dynamic economy. All of our economic problems may be traced in a large measure to our failure to appreciate that premise.
William Flax
The monetizing of that debt has long since been coming to roost—and with gathering momentum. See my reply #5.
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