Peter Schiff
American businessman, financial commentator and author noted for his predictions of the housing market crash in 2005, support for unregulated markets and reduction of the powers of federal government.
Inflation is the unhappy result of our monetary mismanagement and the ultimate cause of the coming economic collapse.
...it is the natural tendency of market economies to lower prices that makes them so successful.
It is a common misconception that low wages are the main factor influencing prices. The reality is that low capital costs, and the absence of taxation and regulation, are far more important.
Dodd's proposal takes regulatory authority away from one unaccountable institution and gives it to another even bigger one. This will not solve our problems.
... it is precisely because it is not a democracy that China will likely be so successful...What is of vital importance for economic success is economic freedom, meaning the protection of private property, the rule of law, and minimal regulation and taxation, not the right to vote.
Today, of course, our current inflation problem is firmly rooted in the irresponsible monetary policies of maestro Greenspan.
Stocks that are selected conservatively and pay high cash dividends [higher than bonds] are, in fact, my favorite investment alternative, especially where there is the prospect of currency profits....
If Enron had been forced to pay cash dividends, it could never have pulled that caper off!
Transferring regulatory authority from one unaccountable agency to another will not solve any problems.
And the reason the federal government wasn’t given that power [to create paper money or issue bills of credit] was because the framers didn’t want it to have the power to create inflation. They had just experienced it firsthand with the Continental dollar, which ended up being worth around 10 cents and gave rise to the expression “not worth a Continental.”
In the long run, the euro as a fiat currency may very well fail like the U.S. dollar. (2006, before Greece)
While it's refreshing to see Chris Dodd finally realize that we need to end the politicization of the Federal Reserve, his latest proposal merely repeats the mistakes that have created this crisis.
By historical standards and given the gloomy corporate profits outlook in an environment of high corporate debt and rising interest rates, the Dow Jones Industrial Average is considerably overvalued at late-2006 levels and should be avoided. I say that, even setting aside the imminent prospect of a collapsed dollar and the recession and hyperinflation that would accompany it.
It can be argued that the U.S. brokerage and investment banking industry has transformed the modern American stock market into nothing more than a mechanism for transferring wealth from shareholders to management.