HOW GOVERNMENT-CREATED INFLATION BECAME POLICY - By Peter Schiff

by Peter Schiff :

The process of dumbing people down so they’ll buy official figures showing inflation “under control” at levels of 1 to 2 percent or so (when it is actually more like 8 to 9 percent) is actually a fairly recent development. Back in the early 1970s, the market basket of consumer prices tracked by the CPI, although not a perfect indicator, was at least relied on by the government itself as a guide. We were still on the gold standard, meaning the money supply had to be managed conservatively. When inflation then
reached 4 percent, it was considered a serious enough problem to warrant wage and price controls, a misguided policy to be sure, but at least a recognition that a problem existed.Today real inflation is much higher and we’re told it’s virtually nonexistent.
The Ford administration was the first to face real problems with government-created inflation, and its strategy, inspired by a young Alan Greenspan serving then as chairman of the Council of Economic Advisors, was to blame the inflation problem on the public. Remember the WIN buttons, standing for “Whip Inflation Now”? As though individual businesspersons could beat inflation by simply refraining from raising prices.
Peter Schiff in his book ' Crash Proof how to profit from the coming economic collapse'
Peter David Schiff, president of Euro-Pacific Capital, is a Connecticut-based brokerage firm have correctly predicted the U.S. stock-market collapse , the home mortgage meltdown and the credit crunch .
Peter Schiff discusses politics, world economies, and investment strategies and is now running for a Senate Seat in his native Connecticut , Peter Schiff is Author of the Best Seller Crash Proof How to Profit From the Coming Economic Collapse

HOW WALL STREET FED THE CONSUMER CREDIT CRAZE by Peter Schiff

HOW WALL STREET FED THE CONSUMER CREDIT CRAZE
"Wall Street accelerated the consumer credit revolution the same way it did the real estate bubble: It created a secondary market for credit card, auto loan, and retail paper by securitizing it collecting it in pools and then reselling it as securities called by such names as plastic (credit card) bonds, certificates for automobile receivables (CARs), and other variations of the generic asset-backed securities (ABSs)."

Peter Schiff In his book From His Book Crash Proof: How to Profit From the Coming Economic Collapse

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Peter David Schiff, president of Euro-Pacific Capital, is a Connecticut-based brokerage firm have correctly predicted the U.S. stock-market collapse , the home mortgage meltdown and the credit crunch .
Peter Schiff discusses politics, world economies, and investment strategies and is now running for a Senate Seat in his native Connecticut , Peter Schiff is Author of the Best Seller Crash Proof How to Profit From the Coming Economic Collapse

Stocks vs. Bonds Peter Schiff in Crash Proof How to Profit From the Coming Economic Collapse

"But Wall Street has led the American public to think stocks have the safety of bonds. There’s a huge difference, of course. Stocks carry all the risks inherent in business ownership .Bonds are contractual loan obligations that must be paid before owners get anything. Because stockholders have all that risk, they should naturally expect a higher rate of return than bond-holders. But Wall Street has fostered a myth that because share-holders enjoy unlimited upside (capital gain) potential, they should settle for a dividend return that, if it exists at a far lower than the interest rate on comparable bonds." Peter Schiff from his book From His Book Crash Proof: How to Profit From the Coming Economic Collapse


Peter David Schiff, president of Euro-Pacific Capital, is a Connecticut-based brokerage firm have correctly predicted the U.S. stock-market collapse , the home mortgage meltdown and the credit crunch .
Peter Schiff discusses politics, world economies, and investment strategies and is now running for a Senate Seat in his native Connecticut , Peter Schiff is Author of the Best Seller Crash Proof How to Profit From the Coming Economic Collapse