The Peter Schiff Show – 06/10/11

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Cliff’s Notes Recap Weekly Recap for 6-6-11 to 6-10-11

  • Monday “Had we done nothing and allowed a real restructuring, General Motors and Chrysler would have emerged from bankruptcy as much stronger companies than the companies that exist today.” Peter Schiff
  • Tuesday “The Chinese economy would be doing even better if the Chinese central planners got out of the way. If China fully embraced capitalism, they would have an even stronger economy than the economy they have today,” explains Peter Schiff.
  • Wednesday While Ben Bernanke claims that the crisis was unpredictable, it was actually very predictable. Bernanke over complicated the crisis in 2008, and because of that he was not able to see it coming in advance.
  • Thursday Bill Gross of Pacific Investment Management was correct when he stated on CNBC that the US debt is far too risky to hold. Instead, consider buying stocks, and bonds in other currencies.
  • Friday Peter Schiff discusses inflation and food prices with a caller, and whether inflation will drive prices down. Schiff explains, “they say that the best cure for high prices is high prices, because high prices bring on more capacity. But it won’t bring on more capacity in an inflationary environment, because it costs more to produce the extra wheat. So the farmers don’t do it. The wheat supply remains the same and the price just goes up to reflect the diminished value of money.”

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Peter Schiff is an economist, financial broker/dealer, author, frequent guest on national news, and host of the Peter Schiff Show Podcast.



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