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

Peter Schiff new book, How an Economy Grows and Why It Crashes

Economics 101 with Peter Schiff

Peter Schiff :"The whole idea is to present economics in very simple terms,that everybody can understand in fact it is so simple that even congressmen can understand it if they read it , too bad that they do not pass these books out there it would save a lot of time and money on these hearings"
"I wrote my book about the financial crisis , my serious book (Crash proof) before it happened , I wasn't Monday morning quarterbacking. " "If you read this [new] book and grasp its concepts...you might know more about economics than many people who have PhDs in economics, including some people who've won Nobel Prizes in economics and sit in very high places of power in Washington D.C."




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