Stock Market & Real Estate Bubbles
It`s not the economy that is strengthened by QE. The economy is actually
inhibited by QE. Quantitative easing is preventing a badly needed
economic restructuring that would enable the U.S. economy to actually
grow. Instead what we are doing is we are pretending there is growth by
inflating bubbles in assets. We have a stock market bubble, we have a
real estate bubble, and now we can take that phony wealth and we can
turn it into consumption through debt. And that is what is going on. But
it`s not legitimate economic growth, you can`t confuse the two.
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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