Gotta Love Peter Schiff

Yep, gotta love that guy.

He has such a way of boiling it all down in simple terms, the first time I saw him I thought wow that makes perfect sense. Following his advice has been my best investment move in a long time.

I find it interesting that Schiff is a trained accountant but not a trained economist. I'm not an economist either and probably would not admit to it if I was but... of all of the economists I've heard speak on radio and TV, Schiff makes the most sense. He is acutely aware of the difference between borrowing to finance production and borrowing to fund consumption. He also knows that one cannot borrow a better standard of living - a rule that applies to nations as surely as it does to individuals. His sound money philosophy is also something that few "mainstream" economists understand. Many of them think that unlimited printing of fiat currency is just fine and that there won't be any unforeseen financial complications from doing so. Too bad that Schiff did not win election to the US Senate in 2010. Of all the groups out there that are in dire need of some clue as to how sustainable economics really works, they are the one where he could do the most good. Now that he is not going to run for office, he is able to spend more of his time educating the American public on the nature of our problems and the hard choices that are needed to solve them. Clearly, more of the same that got us where we are today is not going to do it. That does not seem to dissuade the majority of politicians from continuing their attempts at doing just that, however.