Peter Schiff : Soon, we’re going to find out if the Fed’s going to taper in the fall. If they don’t taper—which I think is even more likely—well then, the market is really going to rise, because the market will have discounted a tightening that’s not going to happen. And if the Fed tapers in the fall, probably by winter they’re going to be un-tapering. They’re going to have to reverse it, because of the carnage in the bond market and the stock market, because they’re going to be pulling the rug right out from under the recovery they think they’ve created.
So they’re going to have to come right back to the markets with more heroin to give the drug addicts what they want. And that’s going to expose the phony nature of the recovery that they’ve been bragging about.
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.
