American - Businessman | March 23, 1963 -
My investment advice is rooted in my understanding of economics.
Peter Schiff
EconomicsAdviceUnderstandingRooted
Trade deficits are OK under certain circumstance. 1. An emerging nation imports capital goods necessary to enhance its productivity. 2. A developed nation, with a current account surplus, uses some of its investment income to finance the purchases of additional consumer goods from abroad.
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There is no such thing as agflation. Rising commodity prices, or increases in any prices, do not cause inflation. Inflation is what causes prices to rise. Of course, in market economies, prices for individual goods and services rise and fall based on changes in supply and demand, but it is only through inflation that prices rise in aggregate.
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I would say to people of a libertarian conservative position on an issue, do not do a taped interview. You're going to come out looking really bad. No matter what you say, no matter how eloquently you answer a question, your answer is not going to be what you said.
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In a free market, businesses compete for customers by keeping prices down and for labor by keeping wages up.
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Every time the market has corrected, since 2008, it's always been the Fed that's made the bottom. The Fed has always saved the market either by cutting rates, launching QE, or threatening to launch another round of QE.
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Wal-Mart creates entry level jobs for people who don't have a lot of skills; those jobs don't pay a lot.
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The only thing I can do with my bitcoin is give it to somebody else.
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The one place that bitcoins seem to be used as money is in crime.
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