Strangewalk

2009 Economic Forecasts Ignore Demographic Shift

Genuine wealth creation and sustainable recovery via American manufacturing cannot return since the same factors (unions, environmental extremists, worker's comp shake-down lawyers, etc) that forced its move to China would just drive it back there again. The only kind of recovery that's plausible is a new round of credit expansion resulting from Chinese funding of US consumption. This model hopefully won't return again, so what's left?

Low Rates, Big Problems

Peter Schiff's underlying reasoning is sound to an extent, but it is also unbalanced and short sighted. The fundamental problems threatening both the Euro and Asia zones are just as deep and serious as those here in the USA, if not more so, just not as immediate or well publicized. As one example:

globaleconomicanalysis...

Much of China's recent boom is illusory and shallow. Without US and other direct investment creating labor-intensive, sweat-shop platforms for mass exporting, there would be very little left aside from the world's preminent high-tech counterfeiting and pirating industries (and a completely destroyed environment).

Peter Schiff seems to have 20-20 vision when surveying the American economic landscape, but wears rose colored glasses with the wrong Rx when gazing out across the Pacific or Atlantic. He won't admit to his investors the truth: he can run, but there's nowhere left to hide.