Peter Schiff Blog

Peter Schiff on Facebook Decline

peterSchiffnews@gmail.com — Thu, 24 May 2012 14:39:56 PDT

Less than a week after Facebook's (FB) IPO there are already rumors that Facebook is considering a move from the Nasdaq (NDAQ) to the NYSE (NYX). According to Peter Schiff switching exchanges will accomplish nothing for Facebook. "The problem isn't where it's listed—it's the valuation!" says Peter Schiff "I think Facebook is a lot more mature the people think , I mean it grew rapidly , How many people on earth are members? It's not like there's that much opportunity to grow. And of course eventually ..look at what happened to MySpace if somebody comes up with something newer and hipper you get competition , but what does this really shows you is how government regulation backfire ..... "

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Peter Schiff on the Petro Dollar

peterSchiffnews@gmail.com — Tue, 22 May 2012 16:47:39 PDT

Peter Schiff explains the Petro Dollar ,Once you start looking into Central Banking, you start seeing how deep the rabbit hole really is, and how hardships and turmoil have been created by central banks.

The First Bank of The United States from 1791-1811 was the first one, their charter ran out. Five years later in 1816 there came the Second Bank of the United States, which ran until Jackson killed it in 1836. Between 1837 to 1863, there were state run "free banks". 30 Years free of central banks. Then came the "National Banks" from 1864 to 1913. These were a step towards a central banking system, but it was still a disconnected network.Therefore there was 88 years without a specific Central bank in the United States. The periods *without* a central bank marked the greatest eras of expansions and growth and true building of wealth in this nation. Where we got screwed was when our dotgov passed the 16th Amendment in order to "exact tribute" from us. Notice that the greatest destruction of our nations wealth (the Market Crash of 1929) took place just 16 years after the inception of the Federal Reserve.One looks back at that era can see the the banks through the FED pulled back the money source in 1929. The population became walking zombies no had any money and no work. The Banksters went to work and bought up all the wealth for pennies on the dollar. The only problem they could figure out how to get the country out of the depression, so start WW11. Through war they made even more money supporting both sides.
Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Peter Schiff : US Treasury Bonds are Junk

peterSchiffnews@gmail.com — Tue, 15 May 2012 13:23:57 PDT

Peter Schiff : US Treasury Bonds are Junk , The greenback and the U.S. bond market are headed for a collapse as the U.S. Federal Reserve loses the ability to service the nation’s debt with “artificially low” interest rates, Peter Schiff, CEO of Euro Pacific Capital told CNBC Asia’s “Squawk Box.” : “As far as I am concerned, U.S. Treasurys are junk bonds,” Schiff said “And the only reason that the U.S. government can pay the interest on the debt, and I say ‘pay’ in quotes because we never pay our bills. We borrow the money so we pretend to pay, but the only reason we can do it is because the Fed has got interest rates so artificially low.”

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Peter Schiff : April Jobs Report is a Disaster

peterSchiffnews@gmail.com — Fri, 04 May 2012 16:38:55 PDT

Peter Schiff : three times as many people left the labor market as found jobs , that's a disaster , why are 300 thousand americans taking themselves out of the labor force ? because there is no jobs available and so they rather and so they rather go on disability or early retirement or whatever they're doing , but we are not creating enough jobs , if you look at the jobs that we created we still creating the wrong kinds of Jobs , it's still mainly service sector retail finance healthcare education , we only created 16 000 manufacturing jobs ......

Peter Schiff : This is a Phony Recovery

peterSchiffnews@gmail.com — Wed, 02 May 2012 06:57:04 PDT

Euro Pacific Capital CEO Peter Schiff on the impact of Federal Reserve stimulus on the economy " remember it was the FED's easy money that gave us the housing bubble so we wouldn't been in this mess without the FED , now the even easier money that we have now is producing an even bigger bubble in government's bond market ...the economy is going to collapse " says Peter Schiff

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Peter Schiff Explaining The Business Cycle

peterSchiffnews@gmail.com — Sun, 29 Apr 2012 20:13:58 PDT

Peter Schiff : ”To explain business cycles and how they work, the boom is the problem, the bust is the solution. The boom is like an artificial high, like you take heroin, you shoot up and it makes you feel good, it’s artificial. You want to get healthy, then you have to go to rehab, detox. You go cold turkey, you go though withdrawal. The withdrawal symptoms are very unpleasant, painful but it’s necessary if you want to remove these toxins from your system and become healthy again. The same thing happens in the business cycle, when you have a central bank, same as the 1920s (cause of great depression), you have monetary policy that is too inflationary and you create an asset bubble, you create mal-investments. And the mal-investments need to be purged. The economy needs to be rebalanced”
Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Peter Schiff Interviews Allan Meltzer @ The Atlantic Economy Summit

peterSchiffnews@gmail.com — Fri, 27 Apr 2012 13:53:38 PDT

Peter Schiff's exclusive interview with Allan Meltzer at The Atlantic Economy Summit Allan Meltzer, long-time chair of the Shadow Open Market Committee & member of the Council of Economic Advisers under Kennedy and Reagan. (3/14/2012) The monetary system is based on debt, OFF COURSE So, 2/3 generations does it well, but then usually the scissors between capitalists & the working population is so large that the working population just not in a position to repay the debt back ... & in this case we need - if we want to maintain the system - just ourageous politicians who write off the credits of the capitalists & the debt of the working population (taxpayers) ... that`s even policy (government debt) Great InterView, by the Way !

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Peter Schiff : save Gold not Fiat Currency

peterSchiffnews@gmail.com — Mon, 16 Apr 2012 08:48:02 PDT

Peter Schiff : The FED Chairman is completely wrong he does not understand money he does not understand gold he does not understand the history of money , the thing about Bernanke is that he does not even understand recent history , he thinks that interest rates and home prices are completely unrelated he thinks that it was a pure coincidence that we had this cheap money under his predecessor and the housing bubble that it just happen to happen at the same time ,Ben Bernanke is completely clueless! says Peter Schiff

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Peter Schiff - The Fed Unspun: The Other Side of the Story - Apr 4, 2012

peterSchiffnews@gmail.com — Fri, 13 Apr 2012 21:19:49 PDT

Peter Schiff Rebuts Bernanke on Fed's Role in Financial Crisis Apr 4, 2012 : "Ben Bernake fancies himself as a student of the Great Depression," says renowned investment broker, global strategist, author, and Austrian economist Peter Schiff, "but... if he were my student he would have gotten an F." During a lecture entitled "The Fed Unspun: The Other Side of the Story", Schiff responded to Bernake's recent four-part college lecture series, rebutting many of the Federal Reserve Chairman's claims about the cause of the housing crisis, the role of the Federal Reserve, the value of the gold standard, and more.

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Peter Schiff : The Treasury Collapse To Hit Around 2013

peterSchiffnews@gmail.com — Fri, 13 Apr 2012 09:28:22 PDT

Peter Schiff : Market-Crushing Treasury Collapse To Hit Around 2013 , Peter Schiff expects the coming crisis to blow the 2008-9 financial crisis out of the water.“The more you delay it,(The FED's ultra-loose monetary policy ) the bigger it will be,” “so we need to raise interest rates during the recession to confront the inefficiencies.” Peter Schiff told Forbes in a phone interview - via Forbes
Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Peter Schiff on when to exit the Gold Rally

peterSchiffnews@gmail.com — Sat, 07 Apr 2012 14:34:52 PDT

Peter Schiff explains that gold is very liquid easily spendable , gold being true money and when it peaks there will be tremendous demand for gold that it won't be any difficult for gold holders to find someone who wants their gold either for a car a piece of property or a farmland or simply for cash domestic or foreign , gold will be so much in demand when it peaks and exiting it won't be a problem at all , anyways this won't happen now but years and years in the future says Peter Schiff

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Peter Schiff - Goldseek Radio - 05 APR 2012

peterSchiffnews@gmail.com — Fri, 06 Apr 2012 08:03:00 PDT

Peter Schiff - Goldseek Radio - 05 APR 2012 : gold is down about 35 dollars as we speak it is under a lot of pressure since the FOMC release , apparently the gold traders are upset that the FED did not say QE3 is coming next week says Peter Schiff , I do not see how they closed the door to QE3 in fact I think it is a certainty , the FED is going to play it by the years and there is going to be more stimulus if the economy needs it just that they are saying it does not need it now , they are keeping interest rates at zero which is massive stimulus already the FED has to print a lot of money and buy bonds to keep interest rates at zero so I think we have QE3 already says Peter Schiff....

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Anarchist Stefan Molyneux interviewed by Libertarian Peter Schiff

peterSchiffnews@gmail.com — Wed, 04 Apr 2012 02:45:27 PDT

Peter Schiff interviews author and anarchist Stefan Molyneux about his ideal form of government or more precisely the absence of any form of government , and if the the government should have the monopoly of the use of the force against the citizens to extract money from them through taxes , according to Stefan Regulations and laws are a gun. They will be enforced by violence and theft. Either the government will steal taxes from you give you fines or threat to throw you into jail if you do not behave as a good alter boy and a obedient slave!!

Peter Schiff : a big drop in the Bond Market is what's coming

peterSchiffnews@gmail.com — Mon, 02 Apr 2012 09:18:37 PDT

Peter Schiff : well, yeah, that's why the FED didn't ask the banks to stress test a big drop in the bond market because that's what's coming, and the banks would feel that. but you know, you've got Ben Bernanke. look at what he said last week on Thursday. he gave a lecture to students at George Washington university and he basically absolved the federal reserve of any responsibility for the housing bubble. He basically said that interest rates have nothing to do with the housing problem which is absurd because right now the fed is keeping interest rates artificially low because Bernanke is trying to prop up the housing market. he's trying to prevent housing prices from falling. so how is it that interest rates affect home prices now but they did not do it when the FED was inflating the housing bubble I mean either Ben Bernanke is lying or he is incompetent - in CNBC
Click here to watch the full interview>>>>>

Peter Schiff on The BRICS dumping the US Dollar in their intra trade

peterSchiffnews@gmail.com — Thu, 29 Mar 2012 13:05:38 PDT

Peter Schiff : I think the biggest common problem for the BRICS nations is how to deal with the United States and more specifically the US Dollar , all these BRICS countries are accumulating enormous dollar reserves , the dollar is going to lose a lot of value and so that means these BRICS nations are going to lose a lot in the real value of these reserves , alot of these BRICS nations are running trade surpluses with the United States but of course the United States is not in the position to actually pay for these products .....

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Peter Schiff : lack of Democracy good for the Economy

peterSchiffnews@gmail.com — Thu, 29 Mar 2012 07:58:34 PDT

Peter Schiff : I think there will ultimately be more freedom than there is today. Will China ever become a one man, one vote democracy? Hopefully not, for the sake of the Chinese. Doing so has certainly not served our interest. We enjoyed a lot more freedom and prosperity when we were less democratic. In the 19th century we were quite undemocratic in the way government ran, and we benefited from that lack of democracy. But as we became more democratic, we grew less free and therefore less prosperous. If they’re wise, the Chinese won’t follow that example. They’ll try to model their government after what America used to be, before we screwed it up. - in Slate.com

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Peter Schiff : This Housing Bubble will be worse than 08

peterSchiffnews@gmail.com — Tue, 27 Mar 2012 17:43:04 PDT

Peter Schiff :"I'm not saying it's going to create another housing bubble, it's facilitating the big bubble in government spending. the federal reserve printing all this money that's enabling the government to finance these huge deficits and it's preventing the economy from restructuring. you know, in his speech this morning, Ben Bernanke talked about structural unemployment. well, the structural unemployment is the result of interest rates being too low. and the fact that rates are too low, we're not saving enough, we're not investing enough, we're consuming too much. government is spending too much. all of this has the economy out of balance. we're not going to create lasting productive jobs." says Peter Schiff

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Peter Schiff : Bonds & Cash are the worst investment now

peterSchiffnews@gmail.com — Sun, 25 Mar 2012 10:32:28 PDT

Peter Schiff : “They’ll keep [rates] low until the market forces them,” Schiff said. “It’s like trying to hide it when you’re pregnant, you can only do it for so long.” He added: “If we get to 2014 and we don’t have a crisis, the Fed will keep rates low but at some point it won’t matter because we won’t have any money because we’ll be paying $30 for a carton of milk.” - in Market Watch

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Peter Schiff on the unrest in China and in America

peterSchiffnews@gmail.com — Sat, 24 Mar 2012 12:36:19 PDT

Peter Schiff : People are dissatisfied in this country, too. We’ve got protesters—look at Occupy Wall Street. There is a great deal of inflation in China right now, which frustrates a lot of people. That is the cost of subsidizing the U.S. economy. If the Chinese simply allowed the renminbi to rise, instead of propping up the dollar, then you’d see far less unrest in China; the people would enjoy their prosperity and productivity more.- in an interview with Slate 13th March 2012

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Peter Schiff advise to China

peterSchiffnews@gmail.com — Sat, 24 Mar 2012 12:34:59 PDT

Peter Schiff : I would tell it to decouple. Absolutely. Although, the sooner China does that, the sooner we’re going to have to deal with the consequences, which are going to be truly horrific. We’d have to immediately cut government spending dramatically. Diminish our consumption. We wouldn’t be going to the malls and buying stuff. The whole U.S. economy would have to restructure along the lines of Americans being frugal, saving their money, and working harder. A lot of government workers would have to lose their jobs. Those who didn’t would suffer big cuts in their pay. People who worked in the service sector—in banking, health care, or education—would also struggle if China stopped subsidizing us. - in an interview with Slate 13th March 2012

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

What lies ahead for China politically?

peterSchiffnews@gmail.com — Fri, 23 Mar 2012 08:55:53 PDT

Peter Schiff : I think there will ultimately be more freedom than there is today. Will China ever become a one man, one vote democracy? Hopefully not, for the sake of the Chinese. Doing so has certainly not served our interest. We enjoyed a lot more freedom and prosperity when we were less democratic. In the 19th century we were quite undemocratic in the way government ran, and we benefited from that lack of democracy. But as we became more democratic, we grew less free and therefore less prosperous. If they’re wise, the Chinese won’t follow that example. They’ll try to model their government after what America used to be, before we screwed it up.- in an interview with Slate 13th March 2012

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Peter Schiff : China and India subsidize America

peterSchiffnews@gmail.com — Thu, 22 Mar 2012 08:53:55 PDT

Peter Schiff : No. There’s a lot of creativity coming out of Asia, a lot of patents. The big problem for countries like China and India is that they still subsidize the U.S. They buy our Treasury bonds and lend us all this money so we can keep consuming. That’s a big subsidy and a heavy burden. - in an interview with Slate 13th March 2012

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Edwin Vieira: The Peter Schiff Show - 3/20/2012

peterSchiffnews@gmail.com — Tue, 20 Mar 2012 16:19:24 PDT

Edwin Vieira: The Peter Schiff Show - 3/20/2012 : Peter Schiff interviews Edwin Vieira, author of "Pieces of Eight: The Monetary Powers and Disabilities of the United States Constitution". Edwin talks about how his book came to be and the new editions. He explains the role that the gold commission hearings and Ron Paul played. He also says how important and urgent monetary reform is for the United States and how the best chance of reform comes at the state level.

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Peter Schiff : Taxes are significantly lower in China than in America

peterSchiffnews@gmail.com — Mon, 19 Mar 2012 09:22:11 PDT

Peter Schiff : Taxes are significantly lower in China. If you earn money, the Chinese government lets you keep much more of it, particularly if you’re a corporation. In America, the government takes money out of the private sector to spend it. Then, in terms of regulation, we try even harder than the Chinese to micromanage our economy. The Chinese certainly try, too. They do a lot of central planning and there are many businesses the government favors. But we do it on a bigger scale here, with the way we tax and subsidize. Think about how the government tries to influence behavior through the tax code, so that things happen that wouldn’t happen in a truly free market. When Washington directs capital or labor in certain directions, that’s central planning. It’s stateism. If you start a business in the U.S., not only do you keep a smaller percentage of your income than you would in China, but more of your time is devoted to complying with complex government rules. Even litigation—you’re more likely to be sued frivolously in America and have to spend a fortune defending yourself as a businessman. Don’t get me wrong: Neither the U.S. nor China is a free-market capitalist paradise, but we’ve drifted further away from it than China has. - in an interview with Slate 13th March 2012

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

Peter Schiff : today China does Capitalism better than America

peterSchiffnews@gmail.com — Mon, 19 Mar 2012 09:20:30 PDT

Peter Schiff : First of all, I don’t think either the United States or China does capitalism all that well. America did capitalism a lot better in the 19th century than China does it now, but today, China does it better than we do. Though both countries have far too much government involvement in the economy, we have more. They’re Communists, supposedly, and we’re not, but our government screws up our economy more than the Chinese government screws up its. - in an interview with Slate 13th March 2012

Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.