Sunday, November 25, 2012

The government can’t alleviate the joblessness and the homelessness

Ludwig: If the you-know-what hits the fan—as you say it will—do you think the government has any role in alleviating some of the dislocations, the joblessness, the homelessness? 

Peter Schiff: The government can’t alleviate it; the government is the cause of it. The only thing the government can do to alleviate it is to get out of the way. But the more it’s involved, the worse it’s going to be.
It’s not a good thing that our currency is going to implode in value and that Americans are going to be impoverished. That’s not a good thing, but it’s a consequence of all the bad policies that have been pursued. It’s time to pay the piper. - in seekingalpha

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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