Doomsaying From Dr. Doom

"For a few fleeting, horrifying moments this past week the fault lines that underlie the global economic crisis erupted into plain view," begins Peter Schiff — Peering into the Abyss.

He calls into question the notion that "our problems result from a lack of consumer spending" and the resulting conclusion that "the solution is for government spending to pick up the slack." He reminds us that "it’s not money we lack but production." Mr. Schiff's final analysis: "We borrowed and spent ourselves to the brink of bankruptcy, and now we must save and produce ourselves back to prosperity."

Some video of the "man who predicted the financial crisis" — Peter Schiff vs. the Clueless.