"People are looking at the wrong things. Things like the risk of Greece defaulting and forgeting about the greater risk of the United States defaulting. Because I think the US is in worst shape then most countries in Europe. If you just look at the situation in Greece, I now their debt to GDP ratio is higher than ours. But our GDP is a flop. If you look just at the manufacturing part of the GDP, goods production and you compare our deficits to that...it`s off the charts. No other country compares."
Topics: Sovereign debt default concerns; sovereign credit risk; US Dollar;
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.