PETER SCHIFF: Markets swoon on double dip fears
Peter Schiff comments on the big U.S. stock mark sell-off, amid general weakness and fears (fears? what are we talking about: expectations) of the coming second crash—made worse by the resources consumed in the stimulus season.
So while the NZ Government bases Budgets on fantasies of “four-percent growth” over the coming year, in Australia, in Europe and in the U.S. things are heading rapidly downhill. And investors know it.
And no fear thinking China is going to pull us out of it. They have problems of their own based on their own expansion of counterfeit capital to fake the expansion of GDP and consequent over-production of malinvestments. And in China, even the malinvestments are bigger: