Saturday, January 14, 2012

Peter Schiff on the S&P downgrades

Peter Schiff : yesterday S&P came out and downgraded nine European nations this is only adding anxiety to the problems that are plaguing Europe and the concern about sovereign debt , the results are money pouring into the US Dollar , the Euro hit 16 months low the dollar index traded as high as September 2010 says Peter Schiff who explains that the US is in a worse shape than Europe as there are only two countries in Europe, that have higher debt to GDP ratios than the US and that's Greece and Italy Ireland and Portugal are about the same as the US , even France that was downgraded it was downgraded to the same note as the US ...this without even counting all the unfunded liabilities in the US

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