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Peter Schiff: “We’re Already in a Recession” (Video)

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Peter Schiff appeared on the Next News Network to give some insights into the possible US war in South China, Hillary Clinton’s recent health problems, international trade, ObamaCare, and quantitative easing.

Quotes from the interview:

War in South China

“Certainly, America is in no position to afford a war. We’re really in no position to afford peace. That’s how broke we are. Anything that would require the expenditure of more resources we don’t have would simply add to our problems.”

Education Crisis

“Politicians have driven up the cost of education because of their subsidies. Because of the involvement of government, education is very expensive … The government comes and says, ‘We have a solution. We’ll arrange cheap financing. We’ll let you borrow a lot of money to pay the high cost of tuition.’ The government cripples the students and offers the students a crutch. The students believe that but for the government, they’d have no crutch and they couldn’t walk. But if it wasn’t for the government, they wouldn’t need a crutch.”

Hillary Clinton

“I’m more worried about a healthy Hillary Clinton and what she can do than a sick Hillary. The real problem is what she’s going to do, what her policies are going to be. She’s a very corrupt individual. She’s basically running a criminal enterprise with her husband Bill. They entered politics broke and now they have a net worth of over $100 million dollars. They did that by peddling their influence.”

Trade Agreements

“Trade agreements aren’t the problem … I’d just like to have unilateral free trade … We’re not going to restore America’s greatness unless we go back to what made American great in the first place. It’s not as simple as better negotiators sitting across from the Chinese or the Mexicans. We need massive restructuring here at home. That means huge cuts in government spending. We need to eliminate entire departments and agencies. We need to basically tear up all of these regulations that have been enacted over the years.”

ObamaCare

“ObamaCare is a disaster. It’s eventually going to lead to the collapse of the healthcare system. The government is going to then take advantage of the damage that it caused to nationalize the entire thing and go to a single-payer socialized medicine. Maybe that was the plan all along: to poison the well and then take advantage of what happened.”

QE4

“We’re already in a recession. It’s just that no one wants to acknowledge that fact. Certainly with an election coming up where Hillary promising four more years of Obama, [the Fed] doesn’t want to admit that we’re already back in recession … I don’t think there’s any amount of quantitative easing that’s going to get us out of this. It’s like trying to drink yourself sober. That doesn’t happen. The more you drink the drunker you get.”

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