Wednesday, June 9, 2010

Peter Schiff’s views on the recent rebound in GDP

The Phantom Recovery

His view on why the recent rebound in GDP does not equal a rebound in the economy. "GDP largely measures spending, and spending is not growth". A warning on government printing and spending, and praise for the newly announced Con-Dem spending cuts. Posted in Estrader in a previous thread.

Posted by doom&gloom @ 03:52 PM (1260 views)
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3 thoughts on “Peter Schiff’s views on the recent rebound in GDP

  • I find much of what Peter Schiff has to say, a real shot in the arm. Shame more didn’t think like him.

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  • you can tell that old pete is scratching his head for the dollar rise and the lack of Oil price rises. Aside from those two duffers he has a point.

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  • Kaming. Chan says:

    What has happened in Britain is little different from what has happened everywhere else in the developed world.

    “Forty years ago,” said an Englishman on the phone yesterday, “Britain had 8 million people in manufacturing, making things, and 3 million people on the public payroll, consuming them. Now, those numbers have almost completely reversed. And it gets worse. Every day, 126 people are added to government employment in Britain, while 1440 private sector jobs are eliminated.”

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