Tuesday, May 6, 2014

Peter Schiff was right

Peter Schiff warns CNBC viewers on August 2006 

"What's going to happen is that the American consumer is basically going to stop consuming and start rebuilding his savings, especially when he sees his home equity evaporate. And when you have the economy 70 percent consumption, you can't address those imbalances without a recession."

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