Sunday, August 19, 2012

Stay away from the Financials they are Toxic - The Party is Over for America

The Real Crash is still to come and it is around the corner
Peter Schiff : " The United States is in a lot of trouble , a lot of people are focused on Europe right now as if Europe is in more trouble , but it is not , I think the difference is that Europe has been forced to recon with its problems now , the bond market is not giving them anymore slack so they kind of run out of robe so now they are at a point where they have to make some tough political choices in America we have been able to delay those tough choices because the world is still lending us money , the FED still got interest rates to zero and the treasury still can borrow money at next to nothing and so it doesn't have to cut on nothing you can keep on expanding government and artificially stimulate this phoney economy that we have although I think ultimately the more the stimulus we have it does not have much of an effect ...I think we are headed back into recession ......"

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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