Everybody is saying we have to avoid the fiscal cliff, but eventually we’re going to go over a much bigger fiscal cliff, because this one is really a pothole. In the current case, we’re talking about cuts in government spending which are trivial relative to the types of cuts we actually need to solve the problem. People are panicking because we might have small cuts in government spending. We actually need enormous cuts in government spending, the problem is we’re not getting them. - in HAI
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.