U.S. Economy: We Don`t Really Know How To Survive Right Now

Hyperinflation is going to be worse than default and restructuring, a legitimate deflationary collapse. The problem for the United States is that if we destroy the dollar`s value, and it is no longer the reserve currency, americans all of a sudden are in this shock therapy where we have to live within our means, we can only consume to the extend that we produce. Our productive capacity has been so diminished over the years, we don`t really know how to survive right now. We don`t have the factories, they are gone. we don`t have the skilled and trained workforce.

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.