Peter D. Schiff: Economics

“Borrowing to build factories is not the economic equivalent of borrowing to buy television sets, and it’s amazing just how few modern economists can see the difference…Borrowing to produce is the way poor countries become rich. Borrowing to consume is the way rich countries become poor. A vivid example of the latter is the stream of container ships unloading at U. S. ports and going back empty because we have nothing to ship.”

Peter D. Schiff

Quotes from Crash Proof (2006)

Way , Country

“Real economic growth emanates from increased productivity, which tends to hold prices down.”

Peter D. Schiff

Quotes from Crash Proof (2006)

“Inflation is the unhappy result of our monetary mismanagement and the ultimate cause of the coming economic collapse.”

Peter D. Schiff

Quotes from Crash Proof (2006)

“The Founding Fathers, those who wrote the Constitution and founded the American Republic, they understood the benefits of sound money and the evils of paper money. They’ve put America on a gold standard from the very birth of the republic and we should heed their wise - they were very learned men. I think they were much more educated and understanding about economics then the people who lead the U. S. today. So, to try to suggest that we will have less robust economy if we went back to gold standard - mostly, that’s propaganda from Central Bankers and politicians, who want to scare us from going back to something that works, because when you go back to free market, the politicians and bankers will lose their power, and they want to maintain their power by scaring people into thinking that if we just go back to freedom and market forces, that’s somehow is going to be bad and we have to surrender our freedoms to politicians and bankers because they know much better than the market. They can define the proper rate of interest and they can manage the money supplier, centrally planning the economy, and it’s going to be more effective than free market capitalism - and that is just not the case.”

Peter D. Schiff

http://blogcritics.org/politics/article/peter-schiff-for-us-senate/http://rt.com/shows/sophieco/190800-economy-dollar-financial-armageddon/
Economic Views

Men , Money , People , Education

“… it is precisely because it is not a democracy that China will likely be so successful…What is of vital importance for economic success is economic freedom, meaning the protection of private property, the rule of law, and minimal regulation and taxation, not the right to vote.”

Peter D. Schiff

Quotes from Crash Proof (2006)

Law , Democracy , Freedom , Success

“Legitimate economic expansions, financed by actual savings, do not need busts. It is only the inflation-induced varieties that sow the seeds of their own destruction.”

Peter D. Schiff

Quotes from Crash Proof (2006)

“In the perspective of previous bear markets, notably those of the 1930s and the 1970s, the prospects look even worse. Economic conditions now are as bad as or worse than what existed then.”

Peter D. Schiff

Quotes from Crash Proof (2006)