May 18, 2011

We're In Much Worse Shape Than Japan

We are underweight both the euro and the yen. But the problem is, as bad as the situation is in Europe and Japan, it is worst here. We owe Japan 1 trillion dollars. We're in much worse shape than Japan. They still have big exports, they have high savings. We`ve got this complete phony economy. - in CNBC Fast Money

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.