Peter Schiff appeared on CNBC yesterday evening and was asked about his long-term investment approach in the context of a weakening dollar and unchecked government spending:
“Remember, we created the fiscal cliff by promising to deal with the deficit in the future. Well, now the future is now, and we’re not going to deal with it, we’re going to kick the can down the road again and hope nobody notices what we’re doing. But the world is going to wake up to this. Just like the housing bubble burst, the NASDAQ bubble burst. We’ve got a much bigger bubble that is the entirety of the US economy. You can see it in the Treasury market, in the dollar market…This whole thing is going to pop and we’re going to deal with it right now. This is not a problem for the future, it’s a problem for the here and now.”