It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Peter Schiff: Stimulus Bill Will Lead to

page: 1
1

log in

join
share:

posted on Feb, 6 2009 @ 06:12 PM
link   
Peter Schiff: Stimulus Bill Will Lead to "Unmitigated Disaster"

Please follow link to watch video.

finance.yahoo.com...;_ylt=AooDbeisV9Byk7OW4Cl1WwS7YW sA?tickers=^dji,^gspc,QQQQ,SPY,DIA,TLT,UDN


The fiscal stimulus bill being debated in Congress not only won't help the economy, it will make the recession much worse, says Peter Schiff, president of Euro Pacific Capital. Schiff scoffs at the notion the economic decline is starting to level off and concedes no government action means a "terrible" recession. But the path of increased government intervention will lead to "unmitigated disaster," says Schiff, who gained notoriety in 2007-08 for his prescient calls on the housing bubble and U.S. stocks. The problem, he says, is the government is trying to perpetuate a "phony economy" based on borrowing and spending. With the U.S. consumer tapped out, the government is "now taking on the mantle" of consumer of last resort, he continues, predicting the bond bubble will soon burst - if it hasn't already - ultimately leading to a collapse of the dollar and an "inflationary depression worse than anything any of us have ever seen." If nothing else, Schiff is an nonpartisan critic of American policymakers, comparing President Bush to Herbert Hoover and President Obama to FDR, and neither in a favorable way.


Wish this report would have made the news sooner. Looks like the senate plans to approve this bill. What if anything can be done to stop this train wreck if it passes? This is so depressing.




posted on Feb, 6 2009 @ 06:42 PM
link   
reply to post by sad_eyed_lady
 


Assuming Schiff is correct, I wonder what else to do to improve my situation except for "BUY GUNS/STOCKPILE CANNED FOOD"?



posted on Feb, 6 2009 @ 06:49 PM
link   
I just posted these video's here...Peter Schiff on Fox Business.

Economic collapse and Price controls and the stimulus package will make it worse.
www.abovetopsecret.com...'



new topics
 
1

log in

join