The problem in the world was caused by too much spending based on easy credit due to artificially low interest rates.
Can someone name one country that is not looking to try and spend its way out of its spending-induced problem?
President Obama gave his non-State of the Union to which Peter Schiff responds:
I don't see how things are going to get better before they get much worse.
As Schiff points out, without savings there is no ability to fund investment.
I still think we'll see 10% unemployment and inflation in the USA and across Europe. Australia will hit 8%/8% and potentially crack double figures.
At what point are people going to get so fed up as to 'chuck the bums out'?