Peter Schiff: Recovery Fantasy Persists Despite Recession Evidence
BY VOICE OF REASON
THELASTGREATSTAND.COM
FRIDAY, FEBRUARY 5TH, 2016
In the following video, Peter starts off talking about the U.S. Dollar Index, and comments on how the index has lost about a percentage point for each of the four days that we are currently into the month of February.
Then, when Peter begins to talk about the rise in gold when compared to the decrease in the U.S. Dollar, he half-heartedly jokes about his most recent interview, which was an appearance on CNBC Asia that I covered in the post titled, Peter Schiff: Here Comes the Great, Great, Great, Great Recession! In a rather snarky tone, Peter jokes about how Wall Street wants nothing to do with him right now, and neither does CNBC America, so the only place he’s welcome for interviews is places like CNBC Asia. Why?
The reason he’s not welcome on Wall Street, is because for the umpteenth time, when everyone on Wall Street laughed in his face, it was Peter Schiff who accurately predicted what was going to happen. While everyone else was living in “Fantasy Land,” and telling the American people we’ve been in a “recovery,” Peter Schiff has been one of the lone voices screaming from the rooftops that the economy is in AWFUL shape, despite the “fiction the Obama administration has been peddling” about some nonsensical “recovery.”
Peter Schiff, never one to pull punches, refers to the person he debated on CNBC Asia as a clueless moron. Like most of the idiots in the media, Peter’s opponent was only telling part of the story, and talking about how American households in general have less debt and cleaner balance sheets. Uh, really? Tell that to the people in their late 20’s or early 30’s living at home because they can’t afford to buy a home, and working two part-time jobs because there are no quality full-time jobs available, or to the person who’s “balance sheet” is clear of their mortgage debts, but only because they were FORCED to sell their house because they could no longer afford it.
Student loansdebt, car loans, and credit cards are at all time highs, and real incomes are NOT rising. Anyone who wants to argue that gas is low, and therefore everyone has more disposable income is talking foolishness that is patently false. Sure, gas is falling, but rents are skyrocketing, and so are health insurance premiums, so no one is saving anything. All the talking heads in the media have become master wordsmiths, constantly redefining what economic terms mean, so they can keep claiming the economy is doing fine.
The Rest…HERE
