Jan 30, 2009

Peter Schiff: "I'm not just doom and gloom"

I'm very negative on the U.S. economy. But I'm very optimistic on a lot of other economies. A lot of people tell me, 'Peter, this doesn't make any sense. How can you be so dire and gloomy on the U.S. and yet so positive on the rest of the world?' That shows you I'm not just gloom and doom. I recognize that contrary to popular opinion, the U.S. economy has been a drag on the global economy, and that when the rest of the world stops subsidizing us, growth abroad will actually improve as a result.

~ Peter Schiff, President, Euro Pacific Capital, "Gloom and Doom? Nah; Just for the U.S.," Barron's, June 30, 2008, by Lawrence C. Strauss

No comments: