Peter Schiff ~ Gov't Takes Money From People & Gives It To Other People Who Didn't Earn It

Peter Schiff: Keep the baby panda alive during government shutdown

As the government creeps closer to a potential shutdown next week, party unity is beginning to fracture among Republicans on Capitol Hill. Sen. Bob Corker (R-Tenn.) spoke on the Senate floor on Thursday, criticizing his fellow Republican senators Ted Cruz from Texas and Mike Lee from Utah for grandstanding and delaying the votes necessary to avert a government shutdown. Despite Cruz's and Lee's tactics, Friday afternoon the Senate passed its plan to keep the government - and Obamacare - funded. Now House Republicans face a choice by this Monday: Cave on Obamacare and accept the Senate's bill to keep the government funded or dig their heels in and stand firm on defunding Obamacare, plunging the government into a shutdown. And once the government funding is figured out, Congress then faces a fight over raising the debt ceiling. RT's Sam Sacks talks to Peter Schiff, CEO and chief global strategist at Euro Pacific Capital, about the current congressional debates.

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.