Peter Schiff Blog: CNBC Video: The Rug Is Going to be Pulled Out: "Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: Ho..."
Notice the last comments by the host:
"Corporate profits have never been higher, so we can disregard his view."
Why have corprate profits never been higher? Is because they are operating at 50% of their workforce from two years ago and steadily increasing their productivity--while not paying sick days, holidays, or vacations? Is it because the Federal Reserve under Ben Bernanke has used his quantitative easing scheme to bolster commodity prices in order to "jump start" the economy(or, more clearly, create a false sense of recovery?)?
It's a sham, and shame on CNBC for perpetuating this BS while federal and state governments are trying vainly to pump all this debt water out of their flooded basements!
Why are these states in so much debt?
Because they refuse to tax the wealthiest citizens, and instead are attempting to cut their budgets by making everyone else suffer.
God bless America--our leaders sure haven't!