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Saturday, May 2, 2009

The Collapse of the Dollar !!!!

work is not an end by itself , all the slaves had a job !! everybody in the Soviet union had a job ...the world is sending us all their goods and we send them dollars that are not backed by anything just pieces of paper with some ink on them , one day the world will end up figuring that out , then we will have hyperinflation and the dollar will collapse :

Can we ever get away from the deep hole we are digging ourselves each day deeper
? The answer is Yes but we should undergo a rehab and change our ways of spending and start producing and saving won't be an easy therapy ...we need to let market forces do their job , we need to produce and save our way out of this mess..Recession is the cure.:

1 comment:

  1. Yes Peter, not all jobs are created equal. The goal of jobs should be productivity but it seems that throughout the years, after economic slow-downs, governments have resorted to facilitate or create unproductive jobs as a means of reducing the prospect of joblessness. Thanks to the electronic printing press, the aim is for everyone to get a pay check regardless of productivity.(Besides,don't forget, productivity is very subjective and it means different things to different people):).
    So you have the ones whose "accomplishment" is to provide easy votes-- people on welfare--they get paid. Then you have the ones who pretend to do something but produce nothing--they get a paycheck. And, of course, you have the group that makes the other two possible--the ones who produce something.
    The question is: can we point the finger solely at the government for this state of affairs???



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Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.