David Stockman is Right This is a Phony Recovery says Peter Schiff

Peter Schiff is right and they are wrong. There is no recovery. Sadly, we cannot have multi trillion dollar deficits year after year. A company cannot solve a bankruptcy by increasing expenses.

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.