Monday, June 16, 2014

Peter Schiff: USA in bad condition

The last couple of years are based on a very misguided sense of what’s going on. What has driven the strength of the US market is the false belief that the Fed has saved the US economy. We are on the verge of a much worse financial crisis than we had in Year 2008, because the Fed re-inflated all the busted bubbles, all the while the fundamentals have been eroding.

If they do stop QE, interest rates are going to rise substantially, and we won’t be able to pay $1-T a year in interest. The country is in really bad shape.

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