In his latest appearance on CCTV, Peter Schiff spoke about the worldwide trend of monetary easing by central banks and how devastating it has been for the US economy.
“Just because the GDP number is getting bigger, it doesn’t necessarily mean the US economy is actually growing. It’s just the way we calculate the growth… A lot of the GDP is simply spending borrowed money… We borrow a lot of money, we import a lot of Chinese goods… We need to have a restructuring of the economy, but the government is preventing that from happening.”
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