Sunday, Feb 08, 2009
Inflationary depression
Yahoo: Peter Schiff: Stimulus Bill Will Lead to "Unmitigated Disaster"
The problem, he says, is the government is trying to perpetuate a "phony economy" based on borrowing and spending. With the U.S. consumer tapped out, the government is "now taking on the mantle" of consumer of last resort, he continues, predicting the bond bubble will soon burst - if it hasn't already - ultimately leading to a collapse of the dollar and an "inflationary depression worse than anything any of us have ever seen."
Posted by gardeniadotnet @ 04:28 PM (462 views) Add Comment
3 Comments
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1. Pmaupoil said...
He just speaks so much sense with simple words.
2. bellwether said...
Decent post G, although seems to have been missed by most.
3. gardeniadotnet said...
1. Pmaupoil said... He just speaks so much sense with simple words.
Aw, shucks... you're making me blush.