"Central banks are corrupting the financial system by cutting interest rates to such a low level"
"America will be hated for decades to come"
"Stocks will go up everywhere because of massive inflation"
Peter Schiff Wall street Unspun 29 Apr 2009 :
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PETER SCHIFF
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Thank you for disseminating the real truth in a world of so many false information. It has helped to realign my whole financial position.
ReplyDeleteBasically, Peter's point is that Americans have wasted all the wealth and all American wealth has gone the the East. Can't argue with that! He also says that the only way America can get this wealth back from the East is by becoming more productive, more innovative and more efficient then them, so they will want to trade this wealth back to the US for the stuff produced in the US as a result of becoming more efficient and innovative. That is certainly true as well, but that is very very unlikely to happen, unless US can come up with zero point energy anti gravity perpetual motion engine of some sort:) And knowing America, I do not discard completely such possibility:)
ReplyDeleteHowever, there is another way to redistribute the wealth in the world. A much faster way. Namely war! A big one this time! And the US currently is equipped better than anyone for it. So I think Peter should consider this possibility when doing his analysis. But who am I to argue?...
Why does my computer get this bug for the last week I've clicked on blogger?
ReplyDeleteAnd yes Obama's ruining the country, it's amazing that we need a CFA to explain politics to us only because they're responsible for protecting their client's money. I've worked in the business sector becuase I've ALWAYS hated politics and politics is what is killing the markets. But when you don't understand something, ALWAYS follow the money.
And the money question is, who is financing the smoke and mirrors? We're suffering all this nonsense because a particular tycoon hates Israel.
Obama has Geithner in his cabinet as Tresury Secretary and he contribulted to the real estate crash. Right after inauguration, banks began rebuilding their derivative departments. Obama has done nothing to regulate the derivative market. So the "economic recovery" that these "experts" are predicting is a resurgance of the derivative market.
Schiff is 100% right. We need to move production back to this country. There's no true recovery until we have the private sector up and flourishing again.