I couldn’t believe my eyes when I read this. A Federal Reserve senior official, Thomas Hoenig, said this today: “I am confident that holding rates down at artificially low levels over extended periods encourages bubbles, because it encourages debt over equity and consumption over savings.” Whaa?? Someone in the Fed who actually understands the root [...]
Posts Tagged ‘Peter Schiff’
Peter Schiff Debates David Epstein of Columbia University
Two kinds of economists exist in the world: those who know first-hand the inner-workings of the economy and those who theorize about how they think it should work and implement policies that have the opposite effect intended. That is the story of the difference between the Austrian school of economics and Keynesianism. One view is [...]
The Dollar Bubble
Bottomline: we are going to have to get back to producing and saving in this country and move away from consuming and spending (particularly money we don’t have) before things get better. It could be a long slog ahead.
The Real Issue with Dubai’s Debt
Dubai is just a harbinger of things to come for sovereign debt – Jeremy Warner These are the exact things Peter Schiff and Gerald Celente were warning about a while back. The issue with this surprise Dubai news is not that they may default on $80-90 billion in debt (the news that came out today). [...]
Russia Today with Gerald Celente on the Economy
Gerald Celente discusses the current status of our economy with Russia Today. In posting this, it is not an attempt at fear-mongering, but simply to point out what needs to be heard so we elect leaders who know what they’re doing to get us out of this. Frankly, even most Republicans don’t seem to understand [...]
Dumping the Dollar in the Middle East, Russia, China, Japan, and France?
From the Independent: The demise of the dollar: “In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold [...]
