The economy is not driven by spending, its driven by savings and production, which we do not have. But you can keep the bubble going with the spending and people do not really make a distinction between a bubble economy and a genuine economy. Just as long as the bubble can keep inflating, that is all everybody really cares about. And the evidence of that is the fact that they are still spending.
Related stocks: Ford (F), General Motors (GM), Tesla (TSLA)
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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- Oil: Where Is The Global Demand?
- Oil: The First Of Many Bubbles To Pop?
- Lower Oil Prices Will Push The U.S. Economy Into R...
- A Lot Of Disconnect In The Markets
- U.S. Economy Is In Rapid Deceleration
- What Falling Oil Prices May Be Signaling
- The Longer The Federal Reserve Waits To Raise Rate...
- The Yellen`s Paradox
- Bitcoin & The Russian Crisis
- Without QE4 Real Estate Will Look Like Oil
- The Real Reason Why Stocks and Oil Are Falling
- Russia: Central Bank Raises Rates To 17%!
- U.S. Economy: More Evidence Of Economic Contraction
- Stock Market: Technicals Look Pretty Weak
- Stock Market: A Change In Trend?
- 2014: Gold vs. World Stock Markets
- Retail Sales: The Economy Is Not Driven By Spending
- A Sharp Oil Reversal
- Stock Market: No Sure Bets
- This Is Going To Light A Fire Under The Gold Trade
- If The Fed Raises Rates, All Job Creation Will Dis...
- Central Banks Are Playing With Fire
- U.S. Trade Deficit In Manufacturing Goods Hits Rec...
- U.S. Economy: Trade Deficit & Job Creation
- Is Germany Opposing An European QE?
- Europe: QE or No QE?
- ECB: Considering Buying Everything Except Gold
- Falling Oil Prices Are Good For The European Economy
- Video: Falling Prices Would Help The Economy
- National Debt Tops 18 Trillion Dollars
- Expecting A Weak Holiday Season
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- Crude Oil Collapsing Like In 2009
- Gold: Russia Will Get A Good Buy
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