Will take a look, thanks.
Here is a tidbit from yesterday I picked up>
Bernanke Is Wrong! The Economy Is Getting Worse, Not Better, Schiff Says
Posted Sep 24, 2009 07:15am EDT by Aaron Task in Investing, Newsmakers,
Recession
Related: ^DJI, ^GSPC, SPY, DIA, TBT, UDN, GLD
The Fed upgraded its view of the economy Wednesday, declaring: "Economic
activity has picked up following its severe downturn."
But forget all the talk about recovery, V-shaped or otherwise. The economy
is actually worse today vs. during the depths of the recession, according to
Peter Schiff, president of Euro Pacific Capital and author of Crash Proof
2.0.
"Ben Bernanke is keeping his record of perfection intact of never getting
anything right. Once again he's gotten it wrong," Schiff says. "If the Fed
really thought the economy was sound, why does he have it on life support?
If he pulls the plug, our sick economy is going to die."
Although the Fed never said the economy is "sound", Schiff is referring to
the FOMC's renewed pledge that "economic conditions are likely to warrant
exceptionally low levels of the federal funds rate for an extended period."
Nothing that's occurred in the past six months has changed Schiff's view
that America's economy is headed for disaster. In fact, he's even more
convinced a true "currency crisis" awaits, and that China will soon stop
enabling our reckless borrowing, the basis our "phony" economy. The coming
collapse of the dollar and bursting of the Treasury bubble will have
devastating consequences for ordinary Americans, and any investors based in
dollars, he says.
The economy today is "worse [because] we are much more deeply indebted than
in March," Schiff declares. "We've dug ourselves a deeper hole." |
