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Guests: Charles Biderman CEO Trimtabs Investment Research Peter Schiff, President of Euro Pacific Capital
Peter Schiff: “What America is doing is squandering the world’s scarce savings on consumption. The whole concept of saving involves under-consumption and self-sacrifice. The individual earns money, but doesn’t spend it all and the resources that he saves can be loaned to an entrepreneur who uses these resources for capital investment which leads to greater production and rising consumption in the future, and a higher standard of living.”
Charles Biderman: “Cash on household balance sheets has been rising at a rate of 6% over the last 4 years; take-home pay grew by over 9% last year. Yes, there is a balance of payments deficit, but U.S. holdings of foreign equities rose by over a trillion dollars last year.”
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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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