January 18, 2011

There Are A Lot Of Problems That We've Yet To Confront In The American Economy

There are a lot of problems that we've yet to confront in the American economy. The real U.S. economic collapse did not happen in 2008 -- it's yet to come, and 2011 could well be the year it arrives. The Federal Reserve is out of ammunition to artificially bolster the economy, though they insist the stimulus is working. But consumer and government spending do not equal economic growth -- because we're merely spending borrowed money to consume what the rest of the world produces!

The U.S. has more debt than any other country, and it's going to come back to haunt us sooner rather than later. That's why I'm focusing my energies on warning our elected officials, Wall Street CEOs, and every day Americans about the true state of the American economy, and government's role in creating and exacerbating the problem. - in Schiff for Senate

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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