June 13, 2012

We Need To Let Interest Rates Rise To Market Levels

We need to let interest rates rise to market levels, and allow the economy to restructure without government interference. We need to stop beating a dead horse and hitch our wagon to an animal that can really pull.

The process will be painful for many, but like ripping off a band-aid, the pain will be over relatively quickly. However, since a painful restructuring means recession, politicians resist the cure with every fiber of their beings.

So instead of a genuine recovery, one that will provide productive jobs and rising living standards, we get a phony recovery that produces neither. - in MarketPlayground


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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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