Saturday, January 14, 2012

Peter Schiff on the S&P downgrades

Peter Schiff : yesterday S&P came out and downgraded nine European nations this is only adding anxiety to the problems that are plaguing Europe and the concern about sovereign debt , the results are money pouring into the US Dollar , the Euro hit 16 months low the dollar index traded as high as September 2010 says Peter Schiff who explains that the US is in a worse shape than Europe as there are only two countries in Europe, that have higher debt to GDP ratios than the US and that's Greece and Italy Ireland and Portugal are about the same as the US , even France that was downgraded it was downgraded to the same note as the US ...this without even counting all the unfunded liabilities in the US






Peter Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.


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