Summary
Summary Crash Proof by Peter Schiff
- Course
- Institution
book Symmary Crash Proof by Peter Schiff
[Show more]
Seller
Follow
MacTheKnife
Content preview
- Summary -Crash Proof
Peter Schiff
#1
USA consumption drives world economy is
reinforced by media, not true
Nobody has ever asked Warren Buffett:
"If you're so smart, why ain't you rich?"
US economy
now world's largest debtor
depends on
foreign suppliers
foreign lenders
, inflation
actual
core
moderate
excludes: food + energy
PPI
CPI
like if in debt
bad
reduce purchase power
upward pressure bond rates
interest government
1 secret high
2 efficiently low
service based
to consume
produce
borrow
so much
so long
an entire nation cannot
, economies
market
increased living standards by capital accumulation
by more productive labour
result: greater output/worker
increased
consumption
leisure
capital investments only by savings!
by under consumption + self sacrifice
service
money = medium of exchange
wealth = what is received in that exchange
you cannot replace manufacturing with information!
insufficient Q
jobs pay less than manufacturing jobs!
jobs
high end
low end: growth USA! hamburger flipping
skilled
unskilled
baby boomers
consumers, not savers!
China
wartime economy
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller MacTheKnife. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.95. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
61001 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now