“The party is over,” said Schiff about U.S. consumption in a recent television interview. Schiff says the U.S. must transition from borrowing and spending, to saving and producing. The government's efforts to "ease the pain" with economic stimulus packages and bailouts will only make things worse in the long run and could result in hyperinflation if the government continues to "replace legitimate savings with a printing press."
in Seeking Alpha
Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.