Wednesday, June 9, 2010

When Will the Dam Break?

Peter Schiff's latest on The Phantom Recovery:

The swelling ranks of the government payroll, and the shrinking number of private taxpayers footing the bill, will guarantee larger deficits and a weaker economy for years to come. In addition, the artificial spending has prevented a much--needed restructuring from taking place, leaving our economy far less efficient than before the crisis began. In other words, we have dug ourselves into a much deeper hole while failing utterly to build any means to climb out.

Marc Faber gave an interesting talk at a recent Austrian economics event titled Mirror, Mirror on the Wall, When is the Next AIG to Fall?

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