{"id":400606,"date":"2019-03-21T09:15:46","date_gmt":"2019-03-21T08:15:46","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/newswire\/were-not-borrowing-ourselves-rich-were-borrowing-ourselves-broke\/"},"modified":"2019-03-21T09:15:46","modified_gmt":"2019-03-21T08:15:46","slug":"were-not-borrowing-ourselves-rich-were-borrowing-ourselves-broke","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/newswire\/were-not-borrowing-ourselves-rich-were-borrowing-ourselves-broke\/","title":{"rendered":"\u201cWe\u2019re Not Borrowing Ourselves Rich, We\u2019re Borrowing Ourselves BROKE!\u201d"},"content":{"rendered":"<div>\n<p>      <!-- START CONTENT --><\/p>\n<p><strong>Mac Slavo<\/strong><br \/><a href=\"http:\/\/www.shtfplan.com\/headline-news\/peter-schiff-were-not-borrowing-ourselves-rich-were-borrowing-ourselves-broke_03192019\" target=\"_blank\" rel=\"noopener\">SHTFplan.com<\/a><br \/>March 20, 2019<\/p>\n<p><strong>Peter Schiff, the\u00a0CEO and chief global strategist of Euro Pacific Capital Inc., has said that we, as Americans, are not \u201cborrowing ourselves rich\u201d as the majority believes.\u00a0 In fact, as with all borrowing, it\u2019s only making us broke.<\/strong><\/p>\n<p>Schiff hasn\u2019t minced words much and he continues to say that the <a href=\"http:\/\/www.shtfplan.com\/headline-news\/peter-schiff-the-recession-is-a-done-deal-thanks-to-the-feds-interest-rate-hikes_01222019\" target=\"_blank\" rel=\"noopener\">upcoming recession is a \u201cdone deal<\/a>.\u201d Schiff also implores us to not be fooled by the optimism in the media surrounding events such as the trade war and a stock market rally.\u00a0 Neither will prevent the coming recession.\u00a0 Our debt load has ensured we will l<a href=\"http:\/\/www.shtfplan.com\/headline-news\/peter-schiff-we-will-live-through-another-great-depression-which-will-be-much-much-worse_03012018\" target=\"_blank\" rel=\"noopener\">ive through another Great Depression<\/a>. And this next one will be much worse.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"CvMoTOjcZq\">\n<p><a href=\"http:\/\/www.shtfplan.com\/headline-news\/peter-schiff-we-will-live-through-another-great-depression-which-will-be-much-much-worse_03012018\">Peter Schiff: \u2018We Will Live Through Another Great Depression Which Will Be MUCH MUCH WORSE\u2019<\/a><\/p>\n<\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" src=\"http:\/\/www.shtfplan.com\/headline-news\/peter-schiff-we-will-live-through-another-great-depression-which-will-be-much-much-worse_03012018\/embed#?secret=CvMoTOjcZq\" data-secret=\"CvMoTOjcZq\" width=\"500\" height=\"282\" title=\"\u201cPeter Schiff: \u2018We Will Live Through Another Great Depression Which Will Be MUCH MUCH WORSE\u2019\u201d \u2014 SHTF Plan - When It Hits The Fan, Don't Say We Didn't Warn You\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Right now, we are being bombarded by positive economic news, for the most part. But most Americans are oblivious to what\u2019s going on right underneath the surface.\u00a0 Despite the recent economic growth, there is plenty of economic data to back up Schiff\u2019s assessment of the current state of the United States\u2019 and the global economy.\u00a0 In his most recent podcast, Peter Schiff said that while the GDP (Gross Domestic Product) number might look pretty good, the growth is unsustainable because it\u2019s all built on debt.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/kUv8KXfVdYU\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/p>\n<p>Schiff puts the GDP numbers into perspective, and considering the debt load the U.S. economy is burdened with, the outlook isn\u2019t all that rosy.\u00a0\u00a0And of course, it\u2019s not just government debt.\u00a0<a href=\"https:\/\/schiffgold.com\/key-gold-news\/us-household-debt-breaks-another-record\/\" rel=\"nofollow\">Household debt is also at record levels and a<\/a>s Schiff says, \u201cWe\u2019re not richer because of this economic growth.\u201d<\/p>\n<blockquote>\n<p>\u201cSo, we had to add a lot more debt in 2018 to buy not as much growth as a much smaller amount of debt in 2005. So, the takeaway from that is this is unsustainable because the growth came at a heavy cost. We had to increase the amount of debt that we had by a lot more than the percentage that the&#8230;<\/p>\n<\/blockquote>\n<\/div>\n<p><a href=\"https:\/\/www.prisonplanet.com\/peter-schiff-were-not-borrowing-ourselves-rich-were-borrowing-ourselves-broke.html\">Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mac SlavoSHTFplan.comMarch 20, 2019 Peter Schiff, the\u00a0CEO and chief global strategist of Euro Pacific Capital Inc., has said that we, as Americans, are not \u201cborrowing ourselves rich\u201d as the majority believes.\u00a0 In fact, as with all borrowing, it\u2019s only making us broke. Schiff hasn\u2019t minced words much and he continues to say that the upcoming [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-400606","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-newswire"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/400606","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=400606"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/400606\/revisions"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=400606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=400606"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=400606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}