Friday, April 30, 2010

Peter Schiff : The Debt is growing faster than the Economy

Schiff Report April 30th 2010

Peter Schiff : "Our economy is growing because consumers and our government are spending borrowed money , but The Debt is growing faster than the Economy we are poorer as a result of this GDP growth we are nor richer , and of course all the money that we borrow to spend today is money we have to repay with interest tomorrow , which means we cannot spend tomorrow in fact we have to reduce our future consumption by more than our current consumption to pay the interests on the borrowed money so none of this is a good news.... " "This is a phony economic growth , this is debt fueled consumption "

Peter David Schiff, president of Euro-Pacific Capital, is a Connecticut-based brokerage firm have correctly predicted the U.S. stock-market collapse , the home mortgage meltdown and the credit crunch
Peter Schiff discusses politics, world economies, and investment strategies and is now running for a Senate Seat in his native Connecticut , Peter Schiff is Author of the Best Seller Crash Proof How to Profit From the Coming Economic Collapse

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