US Economic Growth Is an Illusion (Video)
MRC TV interviewed Peter Schiff about the supposed economic recovery and faulty government calculations of economic statistics. While emerging markets continue to buy gold and silver at record rates, everyday Americans are struggling to support their basic food and energy expenses.
I think the economy has been contracting for the last four or five years. I think we’re in a depression… Look at all the anecdotal evidence: look at what’s happening to the labor force participation rate… look at what’s happening to real incomes… look at the record high credit card debt, yet Americans are not spending on apparel. Look at the big decline in retail sales. They’re spending the money on food, they’re spending the money on energy… They’re replacing a full-time job with a part-time job… [Look at all of this and] you see an economy that is in distress. You don’t see the economic growth that the government claims.”
Follow us on Twitter to stay up-to-date on Peter Schiff’s latest thoughts: @SchiffGold
Interested in learning about the best ways to buy gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!
Related Posts
This weekend, Todd Sachs interviewed Peter on the state of the economy. They discuss the parallels between now and the 2007-2008 housing crisis, the role of economic sentiment in voters’ opinions, and why foreign central banks are losing faith in the dollar.Gold Hits New All-Time Record High
Gold hit a new all-time nominal high, surpassing the previous record set in December of the previous year. The precious metal’s price reached approximately $2,140, indicating a robust and continuing interest in gold as a safe-haven asset, despite a rather peculiar lack of fanfare from the media and retail investors. This latest peak in gold […]
Peter released a brief video addressing the looming resurgence of inflation. Ironically, on the back of disappointing inflation numbers, gold witnessed a dip below $2000 on Tuesday due to higher-than-expected CPI data.Peter Schiff: A Buying Opportunity as Gold Pulls Back from Record High (Video)
Gold surged to a new record high of $2135 early Sunday morning before pulling back sharply Monday. In this video, Peter Schiff explains why this is a buying opportunity. After setting the record, gold quickly sold off and consolidated, dropping over $100 back to around $2,020. Some people see the quick selloff as a bearish […]
During a recent interview at the 2023 Precious Metals Summit Zurich event, Doom, Boom & Gloom Report publisher Marc Faber says now is the time to buy gold, silver and platinum because inflation is here to stay.
Leave a Reply