"Trade deficits are OK under certain circumstance. 1. An emerging nation imports capital goods necessary to enhance its productivity. 2. A developed nation, with a current account surplus, uses some of its investment income to finance the purchases of additional consumer goods from abroad."
Peter SchiffTiny Panda Quotes
Quotes by Peter Schiff
Peter Schiff, born on March 23, 1963, in New Haven, Connecticut, is a prominent American investor, financial commentator, and author known for his staunch advocacy of free-market economics and criticism of monetary policy. As the CEO of Euro Pacific Capital, he has made a name for himself by predicting economic downturns, including the 2008 financial crisis. Schiff’s influential books, such as "Crash Proof: How to Profit From the Coming Economic Collapse," solidify his legacy as a thought leader in economic discourse, shaping perspectives on investing and financial prudence.
2 quotes found
"The government can't create jobs; they'll destroy jobs trying to do it. The government doesn't have any money; all they have is a printing press. We need to free markets to create jobs; if the government wants to help, they should reduce their burden on the economy."
Peter Schiff