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Peter *Schiff* Said it back in early 2007...
US economy is no more sound than a dot com...enough said.
US economy is no more sound than a dot com...enough said.
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Re: The latest from Mega's Best Friend: Schiff!!!
We introduced Keen to Schiff, and are glad the relationship is taking off.Ed. -
Re: The latest from Mega's Best Friend: Schiff!!!
Steve was damn near ignored by Negus in that interview. There is some fascination here in Aus in saying "Look at how stupid the Americans are with all their debt" We're very smug. In fact, as Steve was trying to get through to all the thick heads on the show, our problems are worse than the US. Our debts, both domestic and internationally are proportionatley higher.
We are just more willing to sell off our country quickly.
There is a 'conspiracy' of sorts here in Aus. I guess the group in power have their snouts in the trough and are willing to, at best, ignore reality or alternately, knowingly destroy a nation for private gain, to reveal anything like the truth of our situation.
We also have MOST of our debt written in Aus dollars, so foreigners are taking the currency risk. But that is a chicken about to come home to roost. Japanese savers must have seen their savings obliterated to the tune of some 25% over the last month. That ought to be some sort of trigger in (or at) someone's head!
Again, Gerard Minack's quote "The outlook is dark and gloomy because the sky is full of chickens coming home to roost"Comment
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