WE'RE ON A ROLL (Photo credit: SS&SS)
U.S. attempts to stimulate itself out of the present downturn aren't working, and sooner or later bondholders will turn against the country in much the same way as investors in southern Europe today, says broker, author and financial commentator Peter D. Schiff.
The country remains mired in a depression, Schiff tells Newsmax.TV, and Federal Reserve attempts to stimulate the economy via quantitative easing — asset purchases from banks that inject liquidity into the economy to encourage investment and hiring — delay the day of reckoning when the country will have to tighten its belt and pay its bills.
Meanwhile, loose monetary policies today will pump up inflation rates tomorrow, and haven't made a dent in high unemployment rates they were supposed to make in the first place.
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