Peter recently brought his kid down to the Bahamas. But in the United States, people are going to come into a rude awakening. A dollar crisis is close at hand. The dollar is going to fall sharply because of that, and the standard of living of most people is going to fall.
The future of the nation isn’t good if we continue on this path. As long as Washington tries to micromanage the economy, it is not going to be able to function. Soon the world is not going to want Dollars. The government continues to get in the way. We need sound money and lower taxes.
The collapse of the dollar will lead to an incentive for the politicians to do the right thing. But once the crisis occurs, it will be a good time to do the right thing. But they might not even know what the right thing is, which is why we need the right people in office.
It will be a good thing when the government cannot borrow anymore. We are going to have to make some serious changes. The danger is that the collapse could lead to a repudiation of capitalism. Then everyone could call for the government to control everything. In that case, we will turn into the Soviet Union and stagnate for generations. But if we go back to the free market philosophy of the 19th century, then we might have a bright future.
A lot of people are following Ron Paul. He has become a household name, and he is doing a lot to spread the message of Austrian economics. But Peter Schiff does it in a way that is much better. He can explain it in a way that people can actually understand, like in his book How an Economy Grows and Why it Crashes.
A lot more people are showing up to Peter Schiff’s speaking events. More people are finding out about it. People are more interested in the Austrians, because they were the ones who predicted all of the problems we are having now. Everyone else was wrong. Anyone who has done their own homework figured that out.
Stimulus creates the illusion of success. We can borrow money to create jobs, but if they are unproductive jobs paid for with borrowed money, then what? We are hemorrhaging as a nation, but we are calling it a success. When the interest rate goes up, we will see that this was a complete failure.
Look for Peter’s new book coming out in May, called The Real Crash.