Jan 6, 2009

Peter Schiff on the Economy

Peter Schiff gives his two cents on the economy and doesn't have much praise for what's currently being done by our government to remedy our economic woes. He urges us to let the markets function and protect your wealth as tough times remain ahead.



2 comments:

  1. I think Peter is right on as to intervention and the creation of a bubble in real estate.
    In 2001 the market was in a correction from the stock market bubble, then 9/11. The fed poured in capital and caused the bubble along with poor governence by the banks with the giving awaqy of money. This has created a deeper decline this time. The governments intervention again may back fire as Peter said due to the dollar printing. A decline in the dollar will deter the intervention.
    Richard

    ReplyDelete
  2. Hi Richard,

    I'm not an economist but from our vantage point, I largely agree with what you've said especially:

    "The fed poured in capital and caused the bubble along with poor governance by the banks with the giving away of money"

    Printing more money to fix a printing of too much money problem. Hmmm.

    Time will tell.

    ReplyDelete