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Peter Schiff - Don't Bet on a Recovery

Recs

19

March 02, 2010 – Comments (2)

It is astounding how many economists, government officials, and Wall Street strategists construe the current economic conditions as evidence of a bona fide recovery. It is a testament to the power of the rose colored glasses handed out by our nation’s leading universities that such a feeling could be widely held despite the clear and present danger that compounds daily. The myopia leads us to enact policies that actually exacerbate our problems. The “remedies” are postponing, perhaps indefinitely, a true recovery.

The oracles who have described the nature of this imminent recovery do so based on their conviction that consumer spending is slowly returning to levels that existed prior to the recession. New data released today seems to support this view, with consumer spending up 0.5% in January.

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2 Comments – Post Your Own

#1) On March 02, 2010 at 4:36 PM, kdakota630 (29.55) wrote:

And a hilarious video I had to share about Facebook Abuse:

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#2) On March 02, 2010 at 8:25 PM, ElCid16 (95.87) wrote:

I don't want to be a fan of thunderstorms, either.

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