Peter Schiff, former Ron Paul economic adviser and the president of Euro Pacific Capital, notes that the government’s proposed solutions to the economic crisis will only exacerbate the situation. Check out his latest article from the Wall Street Journal.
As recession fears cause the nation to embrace greater state control of the economy and unimaginable federal deficits, one searches in vain for debate worthy of the moment. Where there should be an historic clash of ideas, there is only blind resignation and an amorphous queasiness that we are simply sweeping the slouching beast under the rug.
With faith in the free markets now taking a back seat to fear and expediency, nearly the entire political spectrum agrees that the federal government must spend whatever amount is necessary to stabilize the housing market, bail out financial firms, liquefy the credit markets, create jobs and make the recession as shallow and brief as possible. The few who maintain free-market views have been largely marginalized.
Like Ron Paul and other Austrian economists, Peter Schiff predicted the housing bubble and recession when the mainstreamers swore that the economy was doing just fine. Watch Peter Schiff Was Right (Almost 1,000,000 views on Youtube). Also check out his books.Published in