Peter Schiff: A Lot of Americans Think Like a 7-Year-Old

Peter Schiff shared his son’s Christmas list and drew a rather disconcerting conclusion – a lot of Americans think like a 7-year-old kid.

The problem is a lot of grown-up Americans still think like a 7-year-old. Except they don’t think Santa Claus lives up in the North Pole. They think he lives in Washington D.C.”

And they don’t think that he wears a red suit. They think he wears a coat and tie. His name isn’t even Santa Claus. It’s Jerome Powell.

The problem is if Americans keep thinking that whoever chairs the Federal Reserve is Santa Claus, and they keep asking Santa to fill their stockings with all sorts of goodies and they don’t care what anything costs because it’s all coming for free from Santa Claus. Well, if that’s what’s going to keep happening, then at the end of the day, $100 trillion may not be an absurd amount of money. In fact, you may need $100 trillion to buy a cosmo robot.”

For Further Reading

Sedating the Economy With Stimulus

US Money Supply Continues to Expand at Record Pace

Peter Schiff: The Dollar’s Loss Is Not America’s Win