Peter Schiff on the benifits of failure

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Peter Schiff makes the point that when the U.S. government does finally hit rock bottom, it will be a benefit.  The sooner the better, otherwise the economic errors will continue to accumulate the day of reckoning that much worse.  Peter Schiff also points out that when our economy finally does sort out its problems and the government is drastically reduced by necessity, we could have a bright future ahead.  Schiff points to both Germany and Japan after World War II as economies that recovered quickly after complete economic destruction.   We are in a much better shape, we still have all of our infrastructure.  I would add that America also has an entrepreneurial spirit that will aid in our recovery.  Peter Schiff’s short interview below.

 

27,996 thoughts on “Peter Schiff on the benifits of failure”

  18. LONDON, Nov 26 (Reuters) – British bankers should be able to spend
    their bonuses sooner, the Bank of England and
    Britain’s Financial Conduct Authority said on Tuesday, relaxing rules put in place
    after the global financial crisis.

    The BoE and FCA proposed that the most senior bankers should have their bonuses deferred by five years,
    rather than as long as eight, while less senior bankers would have a four-year deferral period.

    Part payment of bonuses would be allowed from the first year rather
    than the third, they added. (Reporting by David Milliken; Editing by Sachin Ravikumar)

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