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Showing posts from May 9, 2013

Blowing More Air Into The Same Bubble Is Not A Recovery

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http://youtu.be/Ix7AFhCz3vg-  Link To The Above Title.

Schiff: 2/3 of America to Lose
Everything Because of This CrisisBy Money Morning Staff Reports
A record breaking stock market is distorting a frightening reality:  The U.S. is being eaten alive by a horrific cancer that will ultimately destroy the economy and impoverish the vast majority of its citizens.
That's according to Peter Schiff, the best-selling author and CEO of Euro Pacific Capital, who delivered his harsh warning to investors in a recent interview on Fox Business.
"I think we are heading for a worse economic crisis than we had in 2007," Schiff said.  "You're going to have a collapse in the dollar...a huge spike in interest rates... and our whole economy, which is built on the foundation of cheap money, is going to topple when you pull the rug out from under it."
Schiff says that, despite "phony" signs of an economic recovery, the cancer destroying America stems from a leth…