Monday, September 12, 2011

Peter Schiff on Yahoo Finance - Sept 9, 2011

Peter Schiff : It is more pf the same it is just another stimulus plan dressed up as a jobs plan but it is not going to create jobs it is going to run up the deficit by 450 Billion by the next year it means that we are going to have another increase in the debt ceiling before the next election which is something I was forecasting the last time they raised it , no iyt is not going to turn the economy around it is not going to create any long term employment , it might help on the margin for the next six months create more minimum wage jobs because it effectively reduces the minimum wage to about $3.40 an hour for employers if you hire somebody for just 6 months








Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.


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