Tuesday, July 7, 2009

More Stimulus Bigger Problems Peter Schiff

Peter Schiff VLog for Tuesday July the 7th 2009 :
today the Dow Jones closed below the head & Shoulders top pattern , people are finally starting to realize that the green shoots are not as green as they thought , there is a lot talk right now about a second stimulus , the first stimulus was unnecessary counter productive it stimulated all the wrong things in the economy , the economy is suffering from an overdose of government stimulus , the stimulus is the problem , the stimulus encourages more irresponsible borrowing and spending and prevents the economy from balancing and rebounding in a healthy way , may be in the short run there is an artificial boost in the economy but when the effects are off and the hangover sets in the problems get worse , the more stimulus the bigger problems , the stimulus is the source of the problems , the minimum wage of 6.65 an hour is going to increase ...this is wrong

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