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Well, if you owned stocks in 2008 and you didn't care what he said, you likely lost most of your retirement.
Do you still not want to care?
Greg believes the stock market shouldnt exist and that all money belongs to the government. I forget what other industry he wanted to nationalize the other day. Its so hard to keep track anymore
One - I did not lose any if my retirement investment in 2007. I listened to myself.
Two - I only believe that natural monopolies should be owned by the government. Things like utilities, transportation, and health care.
Three - I also think the government should NOT borrow to meet operating expenses. Borrowing should be limited to capital expenses such as bridges, new roads or track, water works rebuilding etc. Operating expenses, including the cost of our Imperial fantasies, should be paid for by a highly progressive income tax on the top 10% of the population.
Four – the government should regulate business to prevent collusion to firms in the same market and to eliminate any collusion between firms and the government regulators. I want the stock market to be a Market, not a Casino.
Well, if you owned stocks in 2008 and you didn't care what he said, you likely lost most of your retirement.
Do you still not want to care?
That isn't true at all. Peter Schiff is one of the few Financeers and Economists who have called it right. One thing he supports doing is investing abroad so that your investments are backed in non-dollar denominated currencies which is brilliant -- since the dollar is losing value by the minute and other currencies are maintaining or appreciating.
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