Peter Schiff on the U.S. debt ceiling. There’s a more important ceiling staring the U.S. govt in the face than the one they’re trying to fake right now, he reckons: a lending ceiling…
Friday, 29 July 2011
Peter Schiff: “The real crisis will occur not if we *fail* to raise the debt ceiling, but if we **succeed**”
1 comment:
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If the US government were doing the right things to unleash economic growth then they might have had a snowball's chance of remaining solvent. Instead they've spent the past several years doing just about everything they can to destroy economic growth, from blowing money on wars and down the "stimulus" sinkhole, to increasing the size of bloated government bureaucracies, to destroying just about every constitutional amendment in the Bill of Rights, to setting up what is increasingly a police state, to creating an increasingly bloated morasse of regulations and 'occupational licensing' requirements, to the new healthcare bill, and so on and so forth. Combine massively increasing debt with massive destruction of economic potential and reversion of freedoms and then combine it with a few good doses of monetary weakening and bullshit Fed accounting, and the emperor is now clearly naked: The US is no longer solvent.
ReplyDelete- D.