One of my takeaways was the treatment of savings, which gives a good indication of how Schiff thinks. His argument that æhome equity and stock market appreciation are not savingsÆ will fill people with dread, for sure, as they are coming true right now.
Schiff points out that savings used to be an indicator of a genuine buffer zone for hard times. They were the difference between earning money and spending it. So they were a function of all those unfashionable qualities at least in recent years...
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