Wednesday, July 9, 2014

Peter Schiff :Fed Policies Are Creating Another Bubble Which Can't Last

Mark Matheny
July 8, 2014

Before the econimic crisis of 2007-8, Peter Schiff was one of the few voices crying out, warning Americans that there was a crisis coming. He warned that the Fed Stimulus from 2001 and on at that time was one of the main factors which would and did bring on the crisis in late 2007 and into 2008. At that time several other strategists and investors laughed at his predictions.

Once again, Peter is warning that the Fed has not done anything different in order to correct the economy and bring true, sound growth, but instead has continued to inflate the stock market while devaluing the dollar, which ultimately steals from the lower and middle class in order to prop the Stock market which primarilly ingratiates only the mega rich and corporations, yet once again, the shills for the Fed and Wall Street are scorning his predictions of a future bubble burst and possible major decline of the dollar.

Peter Schiff on Fox Business (7/8/2014)

  • Peter Schiff Believes the Dow should be more at 12,000 currently and not 17,000. He argues that if the Fed was doing the right thing by removing all the monetary financial props, and let interest rates rise, then the market would fall substantially.
  • He believes, however, that the Fed will instead, sacrifice the dollar in order to continue propping up the Stock Market, and the housing market in order to perpetuate the current phony recovery.
  • He believes foreign investing and gold are safer havens against long term inflation, and is doubtful of U.S. stocks.
  • He charges that the Fed blew up the real estate bubble that caused the 2008 housing crisis,
  • Now the Fed is compounding the current problem by keeping interest rates at the artificially low rate of 0%
  • America is not saving enough, and not investing enough, and not producing enough, but only borrowing, consuming, and speculating, and so the U.S. economy is weakening.
  • He believes the stimulus of 2008 has only prolonged the impending crisis that will come again in the future, and will in fact be much worse than the last crisis in 2008.
We will see if he is again correct. I personally believe he will be, unfortunately.

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