Peter Schiff appeared on CCTV’s Biz Asia America today to talk about the lack of improvement in Europe’s economy. Peter explained what he would do if he were in charge of the EU, but stressed that the United States is in much worse shape.
“In order to get real economic growth, not just an artificial stimulus related high, you need to dramatically reduce the size of government. It’s government weight that interferes with economic growth. That’s why the only real economic stimulus is legitimate austerity, where you shrink the size of government. I would cut government spending across the board, I would try to repeal as many onerous rules and regulations as I could… In the United States, I think we’re actually doing worse than Europe because I don’t believe our numbers for a second. I think our inflation rate is much higher than what the government admits, and so I think the US economy is still in a contraction.”
Peter’s Interview Begins at 9:00 Below
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