Peter Schiff on Greece and China

 Greece needs to strike a deal with its creditors by the end of the month to stay afloat. That’s what the Greek government has said despite the fact that the country has entered yet another week with no signs of securing a deal in sight. News emerged on Monday that Greece came close to defaulting on a €750 million repayment to the International Monetary Fund last week. Boom Bust guest host Ameera David weighs in.

Then, Ameera sits down with Steve Keen – head of the School of Economics, History & Politics at Kingston University. Steve tells us why one can’t divine exactly why yields all over the world (with the exception of Greece and Brazil) rose in the last month. Dr. Keen explains that even if yields do rise, they create a self-limiting dynamic by slowing growth, which lowers growth again. Steve also explains what happens to credit growth under such circumstances.

After the break, Bianca Facchinei gives us a look at other major business stories of the day including a potential $200 million Amtrak payout, suspicious civil asset forfeiture, Facebook news, and summer travel.

Afterwards, Erin sits down with Peter Schiff – CEO of Euro Pacific Capital and host of “The Peter Schiff Show.” Peter tells why Greece won’t become the “free-market paradise” of Europe, like Singapore or Hong Kong in Asia. He also gives us his take on China’s economy.

And in The Big Deal, Ameera and Edward Harrison discuss Saudi Arabia’s oil strategy targeting US shale oil producers.





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.