Dated: January 14, 2012
U.S statistics do not count a lot of off book debt like “student loans”, social security and State (eg. California) level debt. If these other debt were counted, which they should to paint a more accurate picture of the U.S economic situation.
Peter Schiff is right on the money here. The world is being tricked into believing that the United States of America is a sound investment because the government statistics being posted are skewed and manipulated.
If investors out there really knew the true debt situation of the U.S economic statistics they will not touch U.S treasuries with a 100 foot pole. America for now have down an extra ordinary job with media propaganda that paints a more positive image than it actually is.
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