Peter Schiff: The Real Economy is Deteriorating Beneath Our Feet (Video)

Peter Schiff appeared on Yahoo! Breakout yesterday for reaction to the Federal Open Market Committee’s announcement on interest rates and the economy. Peter argued that Fed induced recovery is only making things worse.

Are we richer or we poorer? Are we growing our liabilities or are we growing our assets? America is getting poorer. We are consuming our way into poverty. We’re borrowing from the rest of the world. We’re trying to reflate a phony economy based on assets prices like real estate and stocks. Meanwhile, the real economy deteriorating beneath our feet.”

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