Was The U.S. Oil Boom Just Another Fed Inflated Bubble, And Is It Contained?
Oil Boom Just Another Fed Inflated Bubble, and is it Contained? Peter Schiff explains this in his latest audio edition.
(Audio Length: 00:19:54)
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This is similar to the bubble that was created in Texas that ran Texas into the ground. Oil is just the tip of the iceberg of mal investment and now to correct those mistakes the costs to the economy to turn around will be even worse. The worst mal investment is not oil or the stock market but the TBTF bank financing which has helped them swallow more and more of the financial sector and pushed them into gambling themselves including gambling against their own clients.