Peter Schiff: Next President will preside over the economic collapse
Kenneth Schortgen Jr
May 22, 2012
On May 21st, Coast to Coast AM aired a special Financial Crisis show, with several different financial and economic analysts appearing during the four hour broadcast. During the second hour, investment advisor Peter Schiff appeared as a guest and laid out the inevitable path of America’s financial future.
Focusing primarily on our country’s debt, and the unsustainabilty of the dollar to hold back inflation, Shiff predicted that no matter who wins the Presidency in November, that individual will be presiding over an economic crash that will make 2008 pale in comparison.
George Norry: When I was 20 years old Peter, and that was a long time ago, I kept looking at the cost of living increase every year, and I used to say there is no way, 20 or 30 or 40 or 50 years from now, it can sustain this kind of growth rate. There is no way these things can continue to grow at this percent. Prices and everything else…
It’s got to collapse one day.
Peter Schiff: Oh no, we don’t have… I’ts going to happen. Whoever wins this presidential election is going to preside over this collapse.
GN: Whether they want to or not.
PS: We cannot postpone it anymore. The numbers are just too big. – Coast to Coast AM, May 21st