Monday, August 31, 2015

Fed rate hike this month will cause a RECESSION

There’s nothing beneath the market but air. [The economy] is teetering on the edge of recession now, and any kind of rate hike would probably push it over the edge.

In the past it was the Fed that has been there to catch the markets with more quantitative easing, but right now the Fed is still pretending that they’re getting ready to raise rates, which is really what’s behind the stock market selloff. People want to blame it on China, but it’s not about China.

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