U.S. Is Dragging Down The World Economy: Peter Schiff

Discussion in 'Economics' started by bearice, Aug 26, 2010.

  1. World GDP = 69 trillion
    US GDP = 14 Trillion
    US dept = 13 Trillion

    US is 20% of the world economy and our foreign debt and trade deficits contribute at least 5% more.

    The more we go in debt, the lower our GDP and the greater our trade deficit strengthens the world.