June 6, 2012

It’s All Part Of An Ongoing Depression

I think it’s all part of an ongoing depression, where we have a series of recessions punctuated by artificial growth caused by stimulus. That’s really what is happening now—the stimulus is wearing off and the hangover is setting in.

And of course, the bigger the stimulus, the bigger the hangover. As the economy builds up a tolerance for stimulus, you need more and more of it to get any effect. We’ve had record doses of stimulus and we’ve barely had any kind of phony growth. - in a Schiff Report video 

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.