Peter Schiff: The dollar was going to go down and gold was going to go up regardless. The re-election of Obama and the politics behind it just really shows the trouble America is in as a nation and as a society. The types of leaders we’re likely to elect, and the types of policies we’re likely to pursue are going to substantially undermine the economy. It’s almost like a self-perpetuating prophesy, because the more the government interferes in the economy, the more regulations we have; the more government spending we have, the more taxes we have—particularly on those with upper income—the worse the economy is going to get, the lower our living standard is going to go and the more good job opportunities are going to be diminished.
And that’s very fertile ground for politicians to promise relief in the form of more government. And, more government creates the need for more government; because the more government we have, the more poverty we have. We’re in that spiral right now; this is how democracies die. We’re in a situation, votingwise, where we have more people in the wagon than we have pulling it. The way you get elected is you promise to people who are riding in the wagon more free stuff, an easier ride; and you also promise to whip the people pulling the wagon a little harder and make them do a little bit more.
And as you do that, there are always people pulling the wagon who decide they are tired of pulling the wagon, and they want to jump in with everyone else. So you get even more people looking for something from government and you have fewer people to pay the bills. And this is where we are—a disintegrating nation.- in seeking alpha
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.
THE PETER SCHIFF BLOG : An Unofficial Tracking of Peter Schiff and The Libertarian Austrian School of Economics
PETER SCHIFF
Popular Posts This Month
-
A very strong debate yesterday on MSNBC between Peter Schiff and the host on the Ed show on two major topics the healthcare reform and the s...
-
The Dollar will collapse the Credit cards bubble is about to burst , buy Gold Buy Silver save your assets ...The dollar will drop like a sto...
-
Here are some of Peter Schiff's Quotes , Please feel free to post more , and I'll make sure to add them to this list ...let's ma...
-
as you may have noticed it this morning many blogs hosted on blogger including mine were reporting this strange Error bX-r1ezpk ... fortuna...
-
government created jobs like the census jobs are counterproductive and unproductive jobs ... Peter Schiff is considering to run for Senate !...
-
President Obama delivers his weekly address to the nation announcing many cuts in the federal budgetWhat do you guys Think of this ???
-
Presented by Robert P. Murphy at the "Economics for High School Students" seminar. Recorded at the Mises Institute in Auburn, Alab...
-
Once again, someone Cenk Uygur trying to debate Peter Schiff simply lacks the finance and economics knowledge to do so . The Young Turks al...
-
Trading 2010: Schiff's Predicting what is in store for 2010, with Peter Schiff, Euro Pacific Capital president. Peter David Schiff , pr...