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[Perhaps this] borrowing to create cash flow ... The personal 'savings' rate has fallen to a new all time record low of minus 6%. Rather than curtailing consumption, Americans have merely responded to higher gas prices by borrowing more money. Therefore, the immediate damage isn't reduced consumption by increased debt. As a result, the actual damage is only being postponed, but with even greater consequences for future consumption, as not only will Americans be required to pay more for energy tomorrow, they will have to pay interest and principal associated with today's purchases as well. What America has succeeded in creating is not an economy impervious to 'shocks,' but merely one which enables their consequences to be postponed to a later date. Unfortunately, that date may have finally arrived. - Peter Schiff Quotes

[Perhaps this] borrowing to create cash flow ... The personal 'savings' rate has fallen to a new all time record low of minus 6%. Rather than curtailing consumption, Americans have merely responded to higher gas prices by borrowing more money. Therefore, the immediate damage isn't reduced consumption by increased debt. As a result, the actual damage is only being postponed, but with even greater consequences for future consumption, as not only will Americans be required to pay more for energy tomorrow, they will have to pay interest and principal associated with today's purchases as well. What America has succeeded in creating is not an economy impervious to 'shocks,' but merely one which enables their consequences to be postponed to a later date. Unfortunately, that date may have finally arrived. Peter Schiff

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What America has succeeded in creating is not an economy impervious to shocks, but merely one which enables their consequences to be postponed to a later date. - Peter Schiff Quotes

What America has succeeded in creating is not an economy impervious to shocks, but merely one which enables their consequences to be postponed to a later date.

What will most likely occur is a long overdue loss of confidence in financial assets in general, particularly those denominated in U.S. dollars. - Peter Schiff Quotes

What will most likely occur is a long overdue loss of confidence in financial assets in general, particularly those denominated in U.S. dollars.

the Philadelphia Feds manufacturers report for September revealed that despite a sharp slowdown, its prices paid index surged 257 points. - Peter Schiff Quotes

the Philadelphia Feds manufacturers report for September revealed that despite a sharp slowdown, its prices paid index surged 257 points.

Unfortunately the situation in New Orleans is a microcosm of our nation as a whole. Although our reliance on foreign savings and production are widely known, and most economists accept the fact that a real economic disaster would ensue should foreigners discontinue such subsidies, dump their hoards of U.S. treasuries, and refuse to exchange real goods for paper dollars. However, rather than perusing policies to rebalance our economy, we simply do nothing, and hope that day of reckoning never arrives. However, just as that strategy backfired in New Orleans, so, too, will it for America as a whole. - Peter Schiff Quotes

Unfortunately the situation in New Orleans is a microcosm of our nation as a whole. Although our reliance on foreign savings and production are widely known, and most economists accept the fact that a real economic disaster would ensue should foreigners discontinue such subsidies, dump their hoards of U.S. treasuries, and refuse to exchange real goods for paper dollars. However, rather than perusing policies to rebalance our economy, we simply do nothing, and hope that day of reckoning never arrives. However, just as that strategy backfired in New Orleans, so, too, will it for America as a whole.

The Fed's study is flawed as the comparisons are not relevant, ... When the world dumps dollars, they will also dump Treasuries, sending rates soaring. - Peter Schiff Quotes

The Fed's study is flawed as the comparisons are not relevant, ... When the world dumps dollars, they will also dump Treasuries, sending rates soaring.

We think all the issues brought up on the federal side has already come up in the state side. - Peter Schiff Quotes

We think all the issues brought up on the federal side has already come up in the state side.

Unfortunately the situation in New Orleans is a microcosm of our nation as a whole. Although our reliance on foreign savings and production are widely known, and most economists accept the fact that a real economic disaster would ensue should foreigners discontinue such subsidies, dump their hoards of U.S. treasuries, and refuse to exchange real goods for paper dollars. However, rather than perusing policies to rebalance our economy, we simply do nothing, and hope that day of reckoning never arrives. However, just as that strategy backfired in New Orleans , so, too, will it for America as a whole. - Peter Schiff Quotes

Unfortunately the situation in New Orleans is a microcosm of our nation as a whole. Although our reliance on foreign savings and production are widely known, and most economists accept the fact that a real economic disaster would ensue should foreigners discontinue such subsidies, dump their hoards of U.S. treasuries, and refuse to exchange real goods for paper dollars. However, rather than perusing policies to rebalance our economy, we simply do nothing, and hope that day of reckoning never arrives. However, just as that strategy backfired in New Orleans , so, too, will it for America as a whole.

[Perhaps this] borrowing to create cash flow ... The personal 'savings' rate has fallen to a new all time record low of minus 6%. Rather than curtailing consumption, Americans have merely responded to higher gas prices by borrowing more money. Therefore, the immediate damage isn't reduced consumption by increased debt. As a result, the actual damage is only being postponed, but with even greater consequences for future consumption, as not only will Americans be required to pay more for energy tomorrow, they will have to pay interest and principal associated with today's purchases as well. What America has succeeded in creating is not an economy impervious to 'shocks,' but merely one which enables their consequences to be postponed to a later date. Unfortunately, that date may have finally arrived. - Peter Schiff Quotes

[Perhaps this] borrowing to create cash flow ... The personal 'savings' rate has fallen to a new all time record low of minus 6%. Rather than curtailing consumption, Americans have merely responded to higher gas prices by borrowing more money. Therefore, the immediate damage isn't reduced consumption by increased debt. As a result, the actual damage is only being postponed, but with even greater consequences for future consumption, as not only will Americans be required to pay more for energy tomorrow, they will have to pay interest and principal associated with today's purchases as well. What America has succeeded in creating is not an economy impervious to 'shocks,' but merely one which enables their consequences to be postponed to a later date. Unfortunately, that date may have finally arrived.

[Perhaps this] borrowing to create cash flow ... The personal 'savings' rate has fallen to a new all time record low of minus 6%. Rather than curtailing consumption, Americans have merely responded to higher gas prices by borrowing more money. Therefore, the immediate damage isnÃâ t reduced consumption by increased debt. As a result, the actual damage is only being postponed, but with even greater consequences for future consumption, as not only will Americans be required to pay more for energy tomorrow, they will have to pay interest and principal associated with todayÃÂ¦s purchases as well. What America has succeeded in creating is not an economy impervious to 'shocks,' but merely one which enables their consequences to be postponed to a later date. Unfortunately, that date may have finally arrived. - Peter Schiff Quotes

[Perhaps this] borrowing to create cash flow ... The personal 'savings' rate has fallen to a new all time record low of minus 6%. Rather than curtailing consumption, Americans have merely responded to higher gas prices by borrowing more money. Therefore, the immediate damage isnÃâ t reduced consumption by increased debt. As a result, the actual damage is only being postponed, but with even greater consequences for future consumption, as not only will Americans be required to pay more for energy tomorrow, they will have to pay interest and principal associated with todayÃÂ¦s purchases as well. What America has succeeded in creating is not an economy impervious to 'shocks,' but merely one which enables their consequences to be postponed to a later date. Unfortunately, that date may have finally arrived.

The strength in gold is revealing the general weakness in the dollar. - Peter Schiff Quotes

The strength in gold is revealing the general weakness in the dollar.

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