Global economy suffers from high debt with US in worst shape, Peter Schiff tells Boom Bust ...News

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Global economy suffers from high debt with US in worst shape, Peter Schiff tells Boom Bust
source : Russia Today ( News ) () 38
With the Dow having its worst session in years over fears of a looming recession and central banks worldwide cutting interest rates, Boom Bust looks at where the global economy is heading and the actual basis for rates cut. The real trouble with the global economy is not that interest rates are high, but the amount of debt, according to Peter Schiff, CEO of Euro Pacific Capital. “All the rate cuts globally are not going to help the situation. The problem is not that interest rates are too high, it’s because the amount of debt is too high. And the reason for it is that central banks are keeping interest rates too low,” Schiff said, addi

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