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Find out why the USA is headed for bankruptcy

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posted on Sep, 10 2008 @ 11:27 PM
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This interview on an Australian TV programme included “Dr. Doom” Peter Schiff.

Schiff is often criticized for being too doom and gloom about the American economy, but after watching this interview I believe he hits the nail right on the head. Schiff is also tempered by a very rational Australian economist Steve Keen, but the two seem to actually agree on most points.

This interview is excellent and should be viewed by anyone that wants to know what is going on with the American and global economies.

I have also had an insight into why the price of oil has gone through the roof all over the world. The USA pegs its dollar against the price of oil (it used to peg it against gold) and given what Schiff claims, the USA economy is up the creek. So it makes sense that in a last ditch effort to try and pull themselves out of trouble, they did a deal with their buddies the Saudis to raise the price of oil in an effort to strengthen the US dollar.

FANNIE MAE AND FREDDIE MAC DISCUSION




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