PETER SCHIFF

PETER SCHIFF

Saturday, May 2, 2009

The Collapse of the Dollar !!!!

work is not an end by itself , all the slaves had a job !! everybody in the Soviet union had a job ...the world is sending us all their goods and we send them dollars that are not backed by anything just pieces of paper with some ink on them , one day the world will end up figuring that out , then we will have hyperinflation and the dollar will collapse :




Can we ever get away from the deep hole we are digging ourselves each day deeper
? The answer is Yes but we should undergo a rehab and change our ways of spending and start producing and saving ..it won't be an easy therapy ...we need to let market forces do their job , we need to produce and save our way out of this mess..Recession is the cure.:

1 comment:

  1. Yes Peter, not all jobs are created equal. The goal of jobs should be productivity but it seems that throughout the years, after economic slow-downs, governments have resorted to facilitate or create unproductive jobs as a means of reducing the prospect of joblessness. Thanks to the electronic printing press, the aim is for everyone to get a pay check regardless of productivity.(Besides,don't forget, productivity is very subjective and it means different things to different people):).
    So you have the ones whose "accomplishment" is to provide easy votes-- people on welfare--they get paid. Then you have the ones who pretend to do something but produce nothing--they get a paycheck. And, of course, you have the group that makes the other two possible--the ones who produce something.
    The question is: can we point the finger solely at the government for this state of affairs???

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