Peter Schiff ( President Of Euro Pacific Capital ) has been an individual who has been warning for years, that we would be heading into an economic crisis ( and eventual collapse of the dollar ) for years.
For those of you that don't know, he was Ron Paul's Economic Advisor for his presidential campaign, who ( like Paul ) adheres to the principles of the Austrian School Of Economics.
* Just Added *
Ron Paul On Neil Cavuto earlier.
In a nutshell, for those that might not understand the " financial talk ", as time goes by, our dollar will decline, prices will seem to rise, and you will be working harder to stay afloat.
When you see gas prices go up, food go up, and everything else, don't blame the companies, blame the government. Address this to your representatives, tell them you want to REALLY stop the war, stop the bailouts ( if they voted for it, vote your official out of office ) and start working for their constituents again and not big business.
I've had people tell me that we have always go out of our recessions or problems before so there is no reason to worry. " We've done it in the Great Depression, and done so in the 80's ( Black Monday ) and the dollar has always stayed with us through these years. "
The difference from those times and today is very simple. Until 1971, we had a gold standard. What really got us out of the great depression was World War 2. Sad as that may sound but War use to actually be good for the countries economy at a time because the people of that country would buy War Bonds and make other investments into the countries military that would bolster it down the line.
In the 1987 Stock Market Crash, People in the U.S. were able to buy 30 year T-bills ( which would also have the dollar eventually level out ) and Paul Volker raised interest rates to over 20+%.
Today, none of this is occurring. Instead of us going into a real recession, we are being told to continue spending. There is even current talk about another stimulus plan!
Is it ridiculous? Absolutely. It is like a child who spends all his money and takes credit from his parents to spend more not learning what the value of what the child ever has. Except, with a parent, they have something of value to back up the money they lend, where as the Federal Reserve, is one big printing press, a creditor if you will.
The problem isn't deregulation or not enough government, the problem is too much regulation, too much government intervention. What is purposed today? More government to fix a problem they caused.
Through history, no matter what country ( or Empire ) that was on a fiat type of currency, all eventually collapsed.
As always, it is very important to learn from history. As George Santayana once said " Those who cannot learn from history are doomed to repeat it. "