Monday, 20 July 2009

Economic Predictions: Ben Bernanke v. Peter Schiff

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Our politicians in Washington (especially the Obama administration) are following the economic policies of Federal Reserve Chairman Ben Bernanke, who made these economic predictions over the past four years (YouTube Video):

But they are ignoring the economic recommendations of Austrian School economist Peter Schiff, who made the following economic predictions over the same four years (YouTube Video):

Today, they still disagree.

Ben Bernanke says the worst of the recession is over and a recovery has already started, while Peter Schiff believes we are not through the recession and that a recovery is a long way off. Bernanke says the federal government needs to keep spending through "stimulus" measures to get out of the recession, but Schiff says we need to spend less or the recession will get worse.

Based upon their past history, which one do you believe?

And more importantly, what will you do about it?

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