Schiff: If The Public Knew How Screwed They Were…

Saturday, January 25, 2014 6:47
(Before It's News)

Peter Schiff joins Joe Rogan at the 4 minute 15 second mark of the video below for a blunt conversation about the American economy and our ever more clear road to collapse. Although many Americans believe that Wall Street is to blame, Schiff makes clear that the blame for the upcoming collapse should lay squarely at the feet of government.

“The government wants to maintain the illusion of prosperity, the illusion of economic growth and so the way they do that now is through financial markets, through assets. They get the stock market to go up, they get the real estate market to go up and somehow they pretend that that means the economy is getting better just because asset prices are rising.”

“It’s not like we’ve got more factories turning out more stuff. All that they do is they get asset prices to rise so that people can borrow more money against those inflated asset values and then spend it. But we’re buying things that are made in other countries. It doesn’t evidence economic growth here, it evidences the economic growth in the countries who are able to produce all the things that we have to borrow money to consume.”

Schiff goes on to say in the conversation that the financial policies of the government are a complete failure.

“Everything they are doing now is just setting the stage for a economic disaster that is going to be much worse than what we had in 2008.” (Language Warning!)