Many people are calling Ben Bernanke a hero. But Peter Schiff thinks differently.
Investors need protection from the government and people like Ben Bernanke. This is just a big Ponzi scheme.
Rather than learning from Greenspan’s mistakes, Bernanke is just repeating them on a grander scale.
Greenspan’s bubble burst in 2008, which was clearly a result of the government. They kept interest rates too low for too long. But Bernanke has taken the rates even lower.
All the banks will fail when the interest rates return to normal.
We need savings and investment for a better economy. When the next bubble bursts, more jobs will be lost. This country is getting sicker.
If Bernanke did his job, Congress would have no choice but to cut spending. This is the same thing that happened in Europe.
We’re going to have a sovereign debt crisis and a currency crisis.
We now have more people who work for government rather than in manufacturing jobs. When the dollar plunges, we will only be able to consume what we produce. We’re going to be spending less money on education.
The architect of the last bubble was Greenspan. Dodd and Frank were the men most responsible in Congress. They wouldn’t even ask Peter Schiff what happened even though he predicted the crisis.
There is no need to create demand. Demand is nearly infinite. What we need is to create more supply.
Government workers should not be allowed to unionize. It is like a terrorist organization, and the losers are the children.
Whenever you have a government monopoly, it is going to be inefficient and it is going to offer a bad product.
The biggest problem with the cost of energy is that we are printing too much money. If we keep destroying the value of money, gas prices are going to go a lot higher.