Obama Wins, Economy’s Doomed
Will Obama’s win bring bad news for the economy?
Peter Schiff, president of Euro Pacific Capital and author of ‘The Little Book of Bull Moves in Bear Markets,’ says a big-government Obama administration will lead to an economic collapse on par with the Great Depression. What do you think?
November 5th, 2008 at 11:38 am
Personally, I think this is a great publicity stunt aimed at selling books.
November 5th, 2008 at 11:38 am
Personally, I think this is a great publicity stunt aimed at selling books.
November 5th, 2008 at 11:46 am
We are already on the way to an economic crash like that of the Great Depression, but I'm sure the right-wing, rich white people will blame it on Obama.
November 5th, 2008 at 11:55 am
While I don't agree 100% with every single one of Obama's proposals (the windfall tax on oil companies is probably a bad idea because investment is encouraged by a predicable set of rules and fees), I highly doubt that good governance and reasonable regulation will destroy the economy.
The fact is, the Republican party has for the past 8+ years been the party of big government, big deficits, and financial irresponsibility. It's deeply unfortunate that, just as we need to spend big bucks on infrastructure and stimulus to pull ourselves out of this recession, we've gone and dumped several trillion dollars in a hole in the desert and set it on fire.