Peter Schiff: U.S. is In Worse Shape Than Europe

Jan 13, 2012 - Euro Pacific Capital CEO Peter Schiff sounds off on the U.S.'s ballooning deficit and Obama's request to raise the debt ceiling.

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[turboteabag08]

"Peter you were right about what happened in 2008, the Fed didn't even see it coming. But how can we trust you now when the Fed says we better raise the debt ceiling?"

So you ever get the feeling we are in a Twilight Zone episode?

[keltingr]

whats 10% Interest rate on $15.2 TRILLION?????

[trapspeed97]

I don't understand the logic in saying interest rates WILL rise. The Fed controls interest rates, not the market. Now, unless bond buyers stop buying US bonds (which is a small but reasonable possibility), why would the Fed raise the rates? It's already below 2% on the 10 yr and countries other than the Fed are still buying, which I guess is why inflation is not higher.

[91Riptides]

"Debt is the slavery of the free".

[jneil2007]

@turboteabag08 If you listen to Alex Jones he will go the other extreme. That all this is designed to enslave the planet into what they call their new world order. World government. The more I see the more people like Alex Jones makes sense. Schiff probably believes that notion too. And Ron Paul as well. But I think if Schiff and Paul came out with the hardcore truth it would back fire on them, idk.

[turboteabag08]

@jneil2007 I agree with your assessment. It shocks me that a smart guy like Peter believes they are just making wrong decisions...unless he himself if just playing naive.

[jneil2007]

@turboteabag08 I don't mean to sound like a conspiracy theorist, but the Bush and Obama administrations know EXACTLY what they are doing and the consequenses of the actions they take. Their programs and the Fed benefits the few at the expense of many.

[MaHaRushie]

@eduvossj I think the interviewer is egging on Peter. I noticed that too.  You can call Peter a lot of things but disingenuous is not one of them.

[romanmir01]

@bullshit3118 I was born in a socialist country - USSR. I don't remember it being 'for the people' ever.

[romanmir01]

@Bokhovenable Don't forget all of the mortgages that are insured by the Treasury now :) that they are off the banks' books. Remember the little thing called TARP? They bought up a lot of mortgages, and many other companies and bad debt (GM as well), all of that is on US balance sheet, on the red side of it. Then there are 'off-budget' things, like SS and Medicare, etc. It's over 100 Trillion

[romanmir01]

@tacitus7 haven't you watched the presidential debates? It looks like all of this is done to build up drama to increase number of viewers, I don't think it's working for them though.

[romanmir01]

PETER: FIX YOUR EQUIPMENT.

In every interview you are talking and not hearing that the other side is talking, that's what happens and people become aggravated, how many more hosts are just going to shut you down and later you'll be talking on your radio show, saying that their sound was too low?

It seems to me that with more and more interviews coming out that look like this, it's not THEIR equipment that's not working.

Sorry.