March 2, 2009
(Peter Schiff`s economic plan on a The Street.com TV video interview.)
What we don`t want is to recreate the same conditions that led to this crisis. That is exactly what Geithner Plan is all about. It is about getting more credit to american consumers to buy more stuff that they can not afford with money they don`t have.
What the government can do is to shrink. Understand that the government is a burden on the economy and the economy does not need any burdens right now. It already has enough.
What the government should do is to free up more resources for the private sector. It should be shrinking, it should be cutting spending.
Peter Schiff is the President and Chief Global Strategist of Euro Pacific Capital. As a result of his accurate forecasts on the U.S. stock market, economy, real estate, the mortgage meltdown, credit crunch, subprime debacle, commodities, gold and the dollar, he is becoming increasingly more renowned.
He has been quoted in many financial TV channels like CNBC, CNN, Fox News, Fox Business Network, and Bloomberg T.V..