CNBC Asia had Peter Schiff on for the second time in a week to discuss the true implications of the fiscal cliff, and what is really needed to keep the US economy from facing even worse predicament. Are you prepared if the dollar plunges?
“Government spending isn’t stimulative, it’s a sedative…So we need real cuts in government spending…But nobody wants to talk about that…because, unfortunately, what is good politics is lousy economics…What’s going to happen is the dollar is going to plunge eventually, and interest rates are going to go up and we’re going to be in the same situation as Greece, and what are we going to do?”
hey peter,
how does the american fiscal cliff affect australians? i live in australia and trying to work out the ramifications…
That’s a great question, Ty! Please call me on The Peter Schiff show this Monday, so I can give you a more thorough answer over the air. You can listen live from 10am to Noon ET, at http://www.SchiffRadio.com. The call-in number is 855-4-SCHIFF
hey thanks for the reply!
i will *definitely* try to ring and and ask in person!
ty