The Precarious State of Our Union – Peter Schiff

January 29th, 2010

In this week’s much anticipated State of the Union address, President Obama again demonstrated his poor understanding of the fundamental problems that confront our nation. By following the advice of the same people who helped guide our economy to the precipice of total collapse, Obama now threatens to push it over the edge.

Notwithstanding his well crafted lip service regarding future spending restraint, the essence of his current program is for more government spending and larger deficits. For all his talk about job creation, his policies will further burden those who might otherwise create those jobs with higher taxes and more regulation. While he did call for tax cuts for the middle class and offered what amounts to bailouts for those struggling to repay student loans, such cuts do nothing to promote growth in the near term and will add to the deficits in the long term.

The President spoke optimistically about the future, but in reality there is little evidence to support such an upbeat outlook. He began his speech by assuring us that the worst of the storm had passed. General Custer may have said something similar when the first wave of Indian attacks ebbed at Little Big Horn.
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Peter David Schiff, president of Euro-Pacific Capital, is a Connecticut-based brokerage firm have correctly predicted the U.S. stock-market collapse , the home mortgage meltdown and the credit crunch .
Peter Schiff discusses politics, world economies, and investment strategies and is now running for a Senate Seat in his native Connecticut , Peter Schiff is Author of the Best Seller Crash Proof How to Profit From the Coming Economic Collapse

Source: Networked Blogs

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One Response to “The Precarious State of Our Union – Peter Schiff”

  1. jaily jones Says:

    IT’S LIKE THE CAPT OF THE TITANIC TELLING ALL THE RATS NOT TO JUMP SHIP, WHILE HIS ENSIGN IS PREPARING HIS PRIVATE LIFE BOAT. AS WITH THE TITANIC THERE ARE TOO FEW LIFEBOATS FOR ALL OF US, SO THE BANKERS AND POLITICIANS HAVE ALREADY LEFT THE BOAT. FEEL SAFE MY MINIONS, WE CAN HEAR THEM YELL FROM THE SAFETY OF SHORE. THE STATE OF THE UNION WAS PURE THEATER, DESIGNED TO TELL THE UNWASHED MASSES THAT YOU WILL SOON SEE THE LIGHT AT THE END OF THE TUNNEL AS THE WORLD’S FAT CATS GENTLY AND QUIETLY … CAP OFF BOTH ENDS. YOU CAN ALMOST HEAR THEM LAUGH AS THEY FLOOD THE PIPE WITH EMPTY PROMISES, LOUSY TV PROGRAMS, AND DISINFORMATION ON ALL THE BOOGEY MEN OUT TO GET YOU AND HOW THERE KEEPING THEM AT ARMS LENGTH. SIT BACK AND ENJOY THE SHOW FOLKS BECAUSE YOU DISMANTLE THE SYSTEM YOURSELF RISKING YOUR OWN SAFETY, IT PROMISES TO BE INTERESTING

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