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News Link • Economy - Economics USA

Overdose of Stimulus Kills US Economy


Peter Schiff in this exclusive Russia Today interview calls for the American political leaders to be honest with the American public about the gravity of the US financial system's failures and not to focus solely on getting re-elected. Peter thinks that, "Within the next several years we are going to have the real economic crisis that we didn't have in 2008 ... Every time the government stimulates the economy to create an artificial boom to postpone the pain they make the inevitable bust that much worse."

With the US facing a new round of political debates en route to the presidential election, Peter's plea for an honest discussion couldn't come at a more critical time for Americans. The Federal Reserve has destroyed the purchasing power of the US dollar and the politicians have made it all possible. They need to stop making economically illiterate promises that further add to the debt burden the Federal Reserve creates and supports. The politicians, as Schiff states, "Need to have an honest discussion with Americans."

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