Difference between revisions of "Economic collapse"

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[[Peter Schiff]]<ref>"Peter D. Schiff is an American [[investment]] [[broker]], [[:Category:Economic Authors|author]], and financial commentator, and was a candidate in the 2010 [[Republican]] primary for the United States Senate seat from [[Connecticut]]. He frequently appears as a guest on [[CNBC]] and [[Fox News]], and is the host of the radio show and [[:Category:Economics Podcasts|podcast]] The Peter Schiff Show. He is the author of the New York Times bestselling ''Crash Proof'' and ''Crash Proof 2.0'', as well as ''The Little Book of Bull Moves in Bear Markets'', which was also a [[Business Week]] bestseller." [[Peter Schiff|Schiff, Peter D.]], ''[https://www.amazon.com/Real-Crash-Americas-Bankruptcy-Yourself/dp/1250046564 The Real Crash: America's Coming Bankruptcy - How to Save Yourself and Your Country]''. Accessed February 21, 2015</ref>, who predicted the [[Crash of 2008]], asks, <blockquote>"Since 2012, what has happened with our economy? The [[stock market]] continues its illusory gains, the [[Federal Reserve Bank|Fed]] 'tapers'" [[quantitative easing]] "while some jobs return, and yet the fundamental [[threat|threats]] to [[American values|our way of life]] has only grown worse -- much, much worse. The United States government nearly [[default]]ed on its [[national debt|debts]] and the solution was to raise the [[debt ceiling|debt limit]] -- to spend yet more money, to go even deeper in hock to China" via [[Treasury Bill]]s, "and to burden every American with obligations that are impossible to repay." Mr. Schiff "reveals that the road we're on will lead to an abrupt [[currency devaluation|devaluation of our currency]] and an economic crash that will upend our power, our political system, and our way of life."<ref>[[Peter Schiff|Schiff, Peter D.]], ''[https://www.amazon.com/Real-Crash-Americas-Bankruptcy-Yourself/dp/1250046564 The Real Crash: America's Coming Bankruptcy - How to Save Yourself and Your Country]'</ref></blockquote>
 
[[Peter Schiff]]<ref>"Peter D. Schiff is an American [[investment]] [[broker]], [[:Category:Economic Authors|author]], and financial commentator, and was a candidate in the 2010 [[Republican]] primary for the United States Senate seat from [[Connecticut]]. He frequently appears as a guest on [[CNBC]] and [[Fox News]], and is the host of the radio show and [[:Category:Economics Podcasts|podcast]] The Peter Schiff Show. He is the author of the New York Times bestselling ''Crash Proof'' and ''Crash Proof 2.0'', as well as ''The Little Book of Bull Moves in Bear Markets'', which was also a [[Business Week]] bestseller." [[Peter Schiff|Schiff, Peter D.]], ''[https://www.amazon.com/Real-Crash-Americas-Bankruptcy-Yourself/dp/1250046564 The Real Crash: America's Coming Bankruptcy - How to Save Yourself and Your Country]''. Accessed February 21, 2015</ref>, who predicted the [[Crash of 2008]], asks, <blockquote>"Since 2012, what has happened with our economy? The [[stock market]] continues its illusory gains, the [[Federal Reserve Bank|Fed]] 'tapers'" [[quantitative easing]] "while some jobs return, and yet the fundamental [[threat|threats]] to [[American values|our way of life]] has only grown worse -- much, much worse. The United States government nearly [[default]]ed on its [[national debt|debts]] and the solution was to raise the [[debt ceiling|debt limit]] -- to spend yet more money, to go even deeper in hock to China" via [[Treasury Bill]]s, "and to burden every American with obligations that are impossible to repay." Mr. Schiff "reveals that the road we're on will lead to an abrupt [[currency devaluation|devaluation of our currency]] and an economic crash that will upend our power, our political system, and our way of life."<ref>[[Peter Schiff|Schiff, Peter D.]], ''[https://www.amazon.com/Real-Crash-Americas-Bankruptcy-Yourself/dp/1250046564 The Real Crash: America's Coming Bankruptcy - How to Save Yourself and Your Country]'</ref></blockquote>
  
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According to Mr. Schiff, the majors issues to examine to understand the strong mathematical and historical likelihood of a an even greater crash than the [[Great Depression]]:
+
According to Mr. Schiff, [[Joel Skousen]], [[James Wesley Rawles]], [[Jack Spirko]] and other [[fiscal conservatism|fiscally conservative]] economics [[pundit]]s, the majors issues to examine to understand the strong mathematical and historical likelihood of a an even greater crash than the [[Great Depression]]:
 
* The 2013 government shutdown
 
* The 2013 government shutdown
 
* The [[national debt]] crisis
 
* The [[national debt]] crisis

Revision as of 10:06, February 21, 2015

Economic collapse refers to any of a large number of threats where the economy (local, national, global) degrades to the point that it is no longer able to support the individuals and systems which depend on it.

Current State of Affairs in the Economy

Peter Schiff[1], who predicted the Crash of 2008, asks,

"Since 2012, what has happened with our economy? The stock market continues its illusory gains, the Fed 'tapers'" quantitative easing "while some jobs return, and yet the fundamental threats to our way of life has only grown worse -- much, much worse. The United States government nearly defaulted on its debts and the solution was to raise the debt limit -- to spend yet more money, to go even deeper in hock to China" via Treasury Bills, "and to burden every American with obligations that are impossible to repay." Mr. Schiff "reveals that the road we're on will lead to an abrupt devaluation of our currency and an economic crash that will upend our power, our political system, and our way of life."[2]

According to Mr. Schiff, Joel Skousen, James Wesley Rawles, Jack Spirko and other fiscally conservative economics pundits, the majors issues to examine to understand the strong mathematical and historical likelihood of a an even greater crash than the Great Depression:

Mr. Schiff asserts that "to avoid complete collapse, America must drastically reduce government spending, and regulations that drain businesses and suppress economic growth, eliminate costly and unnecessary agencies, stop foreign military escapades, and cut entitlements of all kinds for all classes of people."[4]

See Also

Bibliography - Further Reading

External Links

References

  1. ↑ "Peter D. Schiff is an American investment broker, author, and financial commentator, and was a candidate in the 2010 Republican primary for the United States Senate seat from Connecticut. He frequently appears as a guest on CNBC and Fox News, and is the host of the radio show and podcast The Peter Schiff Show. He is the author of the New York Times bestselling Crash Proof and Crash Proof 2.0, as well as The Little Book of Bull Moves in Bear Markets, which was also a Business Week bestseller." Schiff, Peter D., The Real Crash: America's Coming Bankruptcy - How to Save Yourself and Your Country. Accessed February 21, 2015
  2. ↑ Schiff, Peter D., The Real Crash: America's Coming Bankruptcy - How to Save Yourself and Your Country'
  3. ↑ Ibid.
  4. ↑ Ibid.
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