Dysfunctional US economy propped up by countries supplying it with goods it can’t produce itself

Dysfunctional US economy propped up by countries supplying it with goods it can’t produce itself – Peter Schiff ...News

Russia Today - Economy

America has turned into a consumption economy, according to veteran stockbroker Peter Schiff, who points out that economies can’t run on consumption because then they become “bubble economies.” According to Schiff, a vibrant healthy economy needs production “Because you cannot consume what is not first produced.” “Since our economy is so weak and we’re unable to produce the things that we’re consuming, America relies on strong international economies that are able to produce what we consume,” he said. Also on rt.com Exports from China’s Xinjiang province to US more than dou

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Dysfunctional US economy propped up by countries supplying it with goods it can’t produce itself – Peter Schiff ...News

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