Jul 20, 2008

Peter Schiff on the need for limited government in the U.S.

My business works better here. I could try to run the business from overseas, say the Cayman Islands or Australia, but I have friends and family here. I'm optimistic.

I've supported political candidates in the U.S., including Ron Paul, who ran for the Republican presidential nomination this year. I'm not writing America off. But I'm trying to educate people so that they understand that when this economy does collapse, it is not because of capitalism but that it's because of too much government.

To really rebuild the economy, we are going to need cooperation from government and the government is going to have to get out of the way and make itself a much smaller burden on society, which means major reductions in government spending, taxes and regulations.

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

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