Tuesday, March 27, 2012

Peter Schiff : This Housing Bubble will be worse than 08

Peter Schiff  :"I'm not saying it's going to create another housing bubble, it's facilitating the big bubble in government spending. the federal reserve printing all this money that's enabling the government to finance these huge deficits and it's preventing the economy from restructuring. you know, in his speech this morning, Ben Bernanke talked about structural unemployment. well, the structural unemployment is the result of interest rates being too low. and the fact that rates are too low, we're not saving enough, we're not investing enough, we're consuming too much. government is spending too much. all of this has the economy out of balance. we're not going to create lasting productive jobs." says Peter Schiff

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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