|
Post by Jaga on Nov 13, 2008 23:11:00 GMT -7
He predicted this crisis. Here is his discussion on Fox: Schiff also references the role of the US consumer in the world, saying that the US consumer thinks he's doing the world a favor by consuming what the rest of the world produces. He is quick to point-out that this relationship will come to an end, in his view, much sooner than people imagine, and with negative consequences for the US. Schiff has been quoted as saying: "Consumption is its own reward for Production" -- meaning that without production, the US cannot indefinitely sustain its ongoing consumption. Schiff, and other adherents of Austrian economics, promote "savings" as "the engine of economic growth -- not consumption." Schiff has said on numerous occasions that the current economic crisis is not the problem; it is the solution en.wikipedia.org/wiki/Peter_Schiff
|
|
|
Post by pieter on Nov 14, 2008 5:52:52 GMT -7
It starts with CNBC chanal and then goes to Fox. Incredible. The other guys who totally do not believe him and laugh at Peter Schiff.
Are they stil laughing now? ;D
|
|