The Recession is not Over , we're having an Artificial boost says Peter Schiff :
Dennis Kneal of CNBC tries his best to demonstrate that the recession is Over with the help of charts and quoting University of Michigan survey consumer confidence Google's CEO who said today that the worst is over GP Morgan Chase chief economist a Deutsch Bank economist even Walmart sales...etc..but Peter Schiff soon brings Dennis to the real world out of his excessive optimism , Peter said ironically " there is too much talks about green shoots in CNBC that it's like I am watching a gardening channel " The reality is if those green shoots exists , we have trillions of dollars of stimulus just like the stimulus of Bush and Greenspan you got an artificial boost , it's gonna fade and this time it is gonna fade a lot faster and the hangover is going to be worse , the real problem is that we are suffering from an overdose of government stimulus right now , and the more they artificially hype up the economy with cheap money and credit the worse the recession is going to get " and Peter added that he is making more money abroad than the US stock market , we are exacerbating the problems of our economy , our economy suffered because we borrowed and spent too much money , and what we are doing is borrowing and spending even more , what we need is to rebuild our savings and produce more , we have to allow inefficient companies to go bankrupt ..we have to stop trying to subsidize the very behavior that led to this predicament..." most of the panel tended to agree with Peter Schiff later on....
THE PETER SCHIFF BLOG : An Unofficial Tracking of Peter Schiff and The Libertarian Austrian School of Economics
PETER SCHIFF
Friday, June 26, 2009
we are suffering from an overdose of government stimulus Peter Schiff
Labels:Peter Schiff ,Ron Paul
CNBC
Subscribe to:
Post Comments (Atom)
Popular Posts This Month
-
The Dollar will collapse the Credit cards bubble is about to burst , buy Gold Buy Silver save your assets ...The dollar will drop like a sto...
-
Here are some of Peter Schiff's Quotes , Please feel free to post more , and I'll make sure to add them to this list ...let's ma...
-
A very strong debate yesterday on MSNBC between Peter Schiff and the host on the Ed show on two major topics the healthcare reform and the s...
-
government created jobs like the census jobs are counterproductive and unproductive jobs ... Peter Schiff is considering to run for Senate !...
-
as you may have noticed it this morning many blogs hosted on blogger including mine were reporting this strange Error bX-r1ezpk ... fortuna...
-
by Peter Schiff Strike up the band, boys, happy days are here again! Recently released short-term economic dat...
-
By Peter Schiff I've made a living out of exposing economic fallacies, but there's one whale that I can't seem to harpoon. Eve...
-
Peter Schiff : We need to have a Massive Recession and Peter Schiff: Why College Tuition Is So Expensive Lessons from the Crisis: The Limits...
No Kidding. Thanks for the breaking news, LOL
ReplyDeleteWho listens to Dennis Kneal? He's a shill.
ReplyDelete