Wednesday, August 10, 2011

Peter Schiff on Zero Percent Interest Rates

Fox Business News with Lou Dobbs - Peter Schiff : unfortunately rather than learning from its past experiences the FED is repeating them , they got to keep interest rates at zero and the biggest problem facing the US economy is that rates are too low , low interest rates or zero interest rates is causing severe structural imbalances in our economy , resources land labor and capital are mis-allocated , the market needs to allocate them where they need to be , but the FED won't let that happen because the reallocation is going to be a painful process and the politicians have no stomach for the faint pain , so rather than letting the economy checking the rehab they shooting up with more drugs and we are going to overdose ....

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