May 27, 2010

Greece, Argentina, Zimbabwe... I Mean We Are Nowhere Near Japan

Greece, Argentina, Zimbabwe... I mean we are nowhere near Japan. When Japan started to make its mistakes, it did it from a position of strength. The japanese had significant domestic savings, they had huge trade surpluses and current account surpluses. We are on the opposite situation. We have exhausted our domestic savings, we have a huge trade deficit. We can only borrow money if the japanese, the chinese and the saudis lend it to us.


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.
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