Tuesday, January 29, 2013

Peter Schiff : Sometimes you Elect the Government you Deserve

Peter Schiff : "I think it’s a shame but sometimes you elect the government you deserve. To say that we deserve Obama is quite a statement because it’s pretty bad to say that we deserve this. But we voted for him and we’re going to have four more years of growth in government, four more years of decline in our living standards, four more years of taxes and inflation and regulation and stagnation and unemployment. President Obama constantly talks about how unlucky he was that he inherited such a bad economy from his predecessor. Well, his successor is going to inherit an even worse economy than the one that he did. I think the economy is going to be in much worse shape in 2016 when Obama finishes his second term than it was in 2009 when Bush finished his second term."

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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