THE PETER SCHIFF BLOG : An Unofficial Tracking of Peter Schiff and The Libertarian Austrian School of Economics
PETER SCHIFF
Thursday, July 1, 2010
Peter Schiff explains business cycles
”To explain business cycles and how they work, the boom is the problem, the bust is the solution. The boom is like an artificial high, like you take heroin, you shoot up and it makes you feel good, it’s artificial. You want to get healthy, then you have to go to rehab, detox. You go cold turkey, you go though withdrawal. The withdrawal symptoms are very unpleasant, painful but it’s necessary if you want to remove these toxins from your system and become healthy again. The same thing happens in the business cycle, when you have a central bank, same as the 1920s(cause of great depression) , you have monetary policy that is too inflationary and you create an asset bubble, you create mal-investments. And the mal-investments need to be purged. The economy needs to be rebalanced” Peter Schiff
Labels:Peter Schiff ,Ron Paul
business cycles
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...
-
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...
-
government created jobs like the census jobs are counterproductive and unproductive jobs ... Peter Schiff is considering to run for Senate !...
-
by Peter Schiff Strike up the band, boys, happy days are here again! Recently released short-term economic dat...
-
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...
-
Peter Schiff : We need to have a Massive Recession and Peter Schiff: Why College Tuition Is So Expensive Lessons from the Crisis: The Limits...
-
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...
-
Robert Kiyosaki The Rich Dad Difference part 1: 3 types of education part 2: The Cashflow Quadrant part 3: Savers are Losers part 4: Assets...
No comments:
Post a Comment