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November 11, 2011

Italy Has A Problem But So Has The U.S.

But there is a serious problem going on over there in Italy and pretty soon it’s going to be a serious problem over here in America. What’s going on is people are questioning the ability of governments to repay the money they’ve borrowed and there is already a lot of turmoil.

People should be questioning the ability of the American government because the American taxpayers are no more able to pay our debts than the Italian taxpayers are to pay theirs. In fact we are probably in worse shape. The collapse in the US will come. It’s going to happen as far as I’m concerned as sure as the sun rises. - in KWN

Related ETFs: ProShares UltraShort 20+ Year Trea ETF (TBT), iShares Barclays 20+ Yr Treas.Bond ETF (TLT), SPDR Gold Trust ETF (GLD)

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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