October 5, 2013
American investment broker, businessman, author and financial commentator Peter Schiff warns us that we are in worse shape now economically than we were just before the 2008 financial crisis, which we still have yet to recover from.
“I think the U.S. has been in a depression or a recession for the entirety of the Obama presidency,” Schiff said. “I think there’s going to be a depression, but I don’t think it’s going to be global.”
“When the dollar collapses and when the rest of the world stops wasting their resources, propping up our economy, buying our debt, selling us products that we can’t pay for, I think you’re going to have a global economic boom outside of the United States.”
“I just hope that one day we’re smart enough to jump in on it by adopting free market principles.”
“I hope we can reclaim our former glory,” he continued. “But to do that’s we’re going to have to reclaim the values that we have abandoned and those are the ones that our Founding Fathers wrote into our Constitution, not the ones that we’re following now.”