Wednesday, May 14, 2014

GDP report are just excuses

As they have done with the recent jobs reports, most economists pin the bad GDP number on the hard winter. This is a dangerous game to play. If GDP now fails to respond strongly to the return of warmer weather, the truth of a fundamentally weakening economy will become that much easier for everyone to see. But with asset bubbles forming across many sectors of the economy, the truth can be a serious hazard. Nothing pricks a bubble quicker than a loss of confidence.

Peter Schiff is a smart investor and author of several best selling books. He correctly predicted the economic meltdown of 2008 - 2009

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