Tuesday, January 20, 2009

Stimulus won't work

Money manager Peter Schiff, president of Euro Pacific Capital, warned of the housing bubble years ago. He has even made money playing the downside. What does he think of deficit spending and stimulus packages? That it's more harm than good. Whether north or south of the 49th parallel, Schiff says it would be better to cut goverment spending.

He's not alone. William Robson, president of the C.D. Howe Institute agrees, as does the Fraser Institute.

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