Peter Schiff subscribes to Herbert Hoover’s observation, “the business of America is business.”
In case you haven’t noticed, however, business is getting a bad wrap lately after the crash of 2008-2009. The truth is that boom and bust is business as usual in the US. Just look at the first decade of the 21st Century, for example.
The Y2K scare, the dot-com boom and subsequent crash, Enron/Wordcom/Global Crossing, the Dow Jones reaching 14,000 and dropping back down to 9,750, the banking industries collapse and two of the Big 3 auto manufacturers bailed out by the government.
Peter Schiff explain how the economy grows and helps us to understand the crashes.
