Sunday, January 29, 2012

Peter Schiff : Stocks went up but the Cost of Living went up even higher

Peter Schiff : well, it's not just the fed. you have to throw congress in there. they're the ones running the deficits that the fed is monetizing. but the combination of deficit spending and QE is what's destroying the value of the dollar and sending prices higher. stocks are no exception. we're not getting richer because the nominal value of our stocks goes up. most americans are going to get poorer because when they go to spend their dividends or the proceeds from the sale of their stocks, they're going to find the cost of living has gone up a lot faster than their stock portfolios - in CNBC






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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