Archive for December 4th, 2008
Question about Peter Schiff’s advice
Thursday, December 4th, 2008In one of Peter Schiff's recent commentaries, he repeats a recommendation he's made many times over the last few years: Like GM, our economy is in desperate need of a restructuring. Spending must be replaced with savings, and consumption with production. The service sector must shrink and manufacturing must expand to ...
Chrysler exec makes a visit from Bizarro World
Thursday, December 4th, 2008Chrysler Vice Chairman Jim Press said something that was unintentionally hilarious, in a dark way. "If we have a catastrophic failure of one of these car companies, in this tender environment for the economy, it's a huge blow. It could trigger a depression." He is exactly wrong. Malinvestment in automobiles ...