Saturday, January 12, 2013

Peter Schiff: Inflation Running at 7% or Higher

Peter Schiff : “The CPI [consumer price index] isn’t an accurate measure of inflation,” he tells Yahoo. “It’s sheer propaganda. Prices are rising at a much more rapid rate than the CPI would suggest.”“How can you believe the statistics when the numbers are so flawed?”“I don’t care what the government is telling me. If the government weatherman tells me it’s a sunny day and I can see it’s pouring rain, I’m not going to believe the government, I’m going to go outside with an umbrella.” “If it’s not 10 or 11 percent, it’s certainly 7, 8 or 9 percent,” Schiff says. “It’s going to get a lot higher. If we keep printing money, … we’re going to have a huge inflation problem.” - in

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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