Monday, January 5, 2015

Fed cant raise rates because of the Bubbles

All these bubbles are going to burst because of the same pin, which is the Fed withdrawing stimulus.

Look, oil prices fell from $150 per barrel to $32 a barrel in 2008; that helped the consumer too, but it didn't stop the financial crisis. The same thing is happening now, and you are whistling past the graveyard if you think what's happening is good news.

I know [Federal Reserve] can't raise rates or they'd bring about the worst financial crisis since 2008. I don't know when they are going to tip their hats but they are going to have to come clean about launching QE4. Because if they don't do it, they are going to have a worst financial crisis than we saw in 2009.

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