PETER SCHIFF

PETER SCHIFF

Sunday, July 22, 2012

Chinese Rate Cuts Inflationary

Ludwig: I wanted to hear what you had to say about all the recent loosening of monetary policy. Let’s start with the Chinese. Do you think their recent rate cuts are healthy and warranted?

Peter Schiff: I think it’s all unhealthy and it’s all inflationary. All the central banks are trying to prevent economies from restructuring along the lines that would produce lasting, healthy, sustainable growth. We’re all going to pay a price for this reckless behavior. All they’re concerned about is postponing short-term pain, even if it’s a healing type of pain. It’s the equivalent of swallowing some bad-tasting medicine that cures us. But because the cure doesn’t taste good, they don’t want us to have to take it. - in indexuniverse

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.

Popular Posts This Month