A lot of the economies are contracting and these contractions are going to be temporary. There has been a lot of shocks in the global economy.
When the world`s biggest debtor, the United States is broke and we can not pay our bills, certainly there are going to be some disruptions. The governments around the world need to understand that.
Instead they are all panicking and acting irresponsibly which is one of the reasons the US has maintained its strength which has really been supporting our economy.
Imagine how much worse the economy would be right now, imagine how much lower the stock market would already be if foreigners were not pouring trillions of dollars into our bond market and into our economy.
If it is already weak, imagine how would it be without all that support.
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..
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- Recession Will End. Depression Will Follow
- Government Bonds
- Herald Tribune Article
- Schiff on the Jerry Doyle Show, March 26, 2009
- We Must Save and Produce
- Who Loses When Real Estate Prices Decline?
- It is Production that Creates Purchasing Power, no...
- Obama Wants to Restart the Spending Party
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- Video Interview, MSNBC - March 25
- Market Update, Video Log March 25
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- Video Market Update, March 17, 2009
- Video - Schiff on The Lew Rockwell Show
- Video Market Update, 16 March 2009
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- General Electric - Nothing but a Hedge Fund
- The Value and Prices of Houses in the Future
- Should You Sell Your House Now?
- Schiff Market Update : Videolog March 12
- Peter Schiff On Bloomberg
- Schiff on Fox Business - Video
- Is China Decoupling?
- Peter Schiff on Freedom Watch, March 12, 2009
- Peter Schiff: The Bear Market is not Over
- Market Update - VideoLog - March 10, 2009
- Bad Economic News and its Impact on the Dollar
- Schiff Videolog, March 09
- Economic Data and Jobs
- Schiff on Kudlow`s CNBC Show, March 2009
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- Market Update, March 6 (VideoLog Transcript)
- The Trouble with GM and GE
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- VideoLog: Market Update, March 6
- CNN Video Interview, March 3
- Dow Can Go to 4,000 points
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- Markets Update
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