Monday, May 11, 2015

Janet Yellen was right ...sort of

Janet Yellen was half right when she said the stock market was overvalued.

If the Fed was really going to raise interest rates [the stock market] would be a lot lower. That's also why I don't think the Fed is going to raise interest rates, because I don't think Janet Yellen wants the stock market to go down. This whole phony recovery is based on asset bubbles and the Fed is not going to intentionally prick those bubbles."

I don't know how far the market will drop because I don't think the Fed will allow it to.

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