Feb 21, 2009

Peter Schiff in the coming boom in China and Asia

Once China allows the dollar to collapse, its domestic purchasing power will surge and its economy will quickly overtake the U.S. economy as the world’s largest. Free from the burden of subsidizing America, the rest of Asia will boom as well.

As it now stands, the United States is the beneficiary of a reverse Marshall Plan, which costs Asian economies a fortune to fund. When they pull the plug, the U.S. economy will go down the drain, and Asian economies will see explosive growth and prosperity. Asia is where the real fortunes will be made. That is why I suggest growth-oriented investments be targeted to Asia. Investing there now is like investing in America in the late nineteenth century.

~ Peter Schiff, Crash Proof, p. 179

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