Thursday, October 14, 2010

Peter Schiff : Gold is still a bargain - buy more

Trade War or Drive Dollar Down?

Euro Pacific Capital President Peter Schiff on what we can do to rebuild the manufacturing sector.
Peter Schiff : what we really need is to regain our manufacturing industry , if you drive the dollar down we just gonna have to pay more for what we import , because we do not have the industrial capacity to produce all these goods anymore ....we can't win the trade war and driving the dollar down is committing suicide ...what we need to do is deregulate this economy , reduce all the burdensome and costly regulations reduce taxes on business which means cutting government spending so that we can be competitive again so that we can rebuild our manufacturing sector , so that we can save money to make the investments that we need ...we got to go back to work and I am talking about real work not this phony know the service jobs the government jobs ...we need to roll up our sleeves and get back to work otherwise.... You do not need cheap wages if you have a lot of capital , at one point in America we paid the highest wages in the world yet we exported to everybody because we had the smallest government in the world ...(the workers) were productive because they had capital , and they had capital because we had an economy that generated savings , we did not have a lot of government ..., so you can either have a big government or you can have a strong economy , you can't have both , if you want high wages then you need government to be small , you need businesses to be competitive which means instead of adding regulations we should be repealing the regulations that exist , The government has undermined our productive capacity that's why the jobs have gone ...and the reason that the economy keeps getting worse is that the government keeps repeating the mistakes....

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