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Guests: Terry McGraw, Chairman and CEO of McGraw-Hill and Peter Schiff, CEO of Euro Pacific Capital
Peter Schiff: “I don’t see this unexpected acceleration in the economy as an indication of real economic growth. What we’re measuring is consumption. 75 – 80% of our GDP now is made up of consumption. Our economy is not producing the goods we consume, so the Asian countries who are producing our goods are experiencing real growth.”
Terry McGraw: “As interest rates rise, won’t we attract more capital? Schiff responds that it will be much more expensive to pay that interest. Nominal rate increases will not attract more capital because people will compare increases in interest rates to the rising gold prices.”
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Peter Schiff is an American investment broker, author, financial commentator, and was a candidate in the 2010 Republican primary for the US Senate.
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Peter Schiff is an American investment broker, author, financial commentator, and was a candidate in the 2010 Republican primary for the US Senate.
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