Thursday, July 28, 2011

Peter Schiff : The real problem is not the Debt Ceiling , the problem is the DEBT

Peter Schiff : I do not think we should raise the debt ceiling it is a charade , for now it is true default is up to us , if we want to dafault obviously we could do it but if we do not want to there is plenty of revenue at some point it won't be the case , when interest rates rise then we simply we won't be able to make the payment but for now with interest rates as low as they are it is still our choice , eventually it is not gonna be but for now it is , the real problem is not the debt ceiling , the problem is the debt and raising the ceiling makes that problem bigger

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