Peter Schiff 2/5/09 - Fox Business

February 07, 2009
Peter warns that the government stimulus/bailouts could lead to food lines. He says that a real economy comes about not from consumption, but from production-- and production comes about from savings. He points out that the Soviets all had jobs, and that they were all flat broke. So what the U.S. needs is not government jobs, but real productions free market jobs. Peter says that the President's Working Group on Financials (also known as the Plunge Protection Team) should be dismantled, and and every government economist fired. He says that the U.S. has a choice to make: bite the bullet by raising interest rates and letting companies go out of business, or stimulating/printing and entering Wiemar-style hyperinflation.