“The economists to whom most reporters listen warn that the combined impact of reduced government spending and higher taxes will slow the “recovery” and perhaps send the economy back into recession. While there is indeed much to worry about in our economy, this particular cliff is not high on the list. Much of the fear stems from the false premise that government spending generates economic growth. People tend to forget that the government can only get money from taxing, borrowing, or printing. Nothing the government spends comes for free. Money taxed or borrowed is taken out of the private sector, where it could have been used more productively. Printed money merely creates inflation.”
Peter Schiff is an American economist, investor, and outspoken advocate of Austrian economics. He is the CEO and chief global strategist of Euro Pacific Capital and the founder of SchiffGold, known for his long-standing support of sound money and opposition to central banking. Schiff rose to prominence after accurately predicting the 2008 financial crisis, earning a reputation as a sharp critic of government intervention in markets.
A fierce proponent of free-market capitalism, Schiff argues for drastically limited government, abolition of the Federal Reserve, and a return to the gold standard. He is also a prolific media presence, known for challenging mainstream narratives on inflation, debt, and monetary policy. His work emphasizes individual responsibility, fiscal restraint, and economic freedom.
Estimated World’s Smallest Political Quiz Score:
Economic: 100
Personal: 80
Note: Peter Schiff has not taken The World’s Smallest Political Quiz and this score is purely an estimate made by The Advocates For Self-Government.