PETER SCHIFF

PETER SCHIFF

Thursday, June 5, 2014

U.S. Stock Market Bubble will Collapse amid Fed QE Tapering



“If the Fed actually did what it’s threatening to do – which is to completely remove all the monetary props beneath the market, to wind down QE to zero and the eventually begin to increase increase interest rates, then I think the market will head substantially lower,” Schiff told the business news outlet. “But I don’t believe they’ll do that. I still think the Fed is going to end up aborting the taper which will support the market and prevent it from really collapsing.”

“The Fed is barely finished its tapering process — we still have a long way to go — and the air is already coming out of the bubble. I don’t think there’s going to be a big drop in the averages but I still think a lot of these momentum stocks…will continue to trend lower,”
 “I think the Fed will abort this [tapering] process and reverse it…but the rally is going to be more in commodities, precious metals and foreign currencies when the Fed has to admit it was wrong and do more QE.”  Peter Schiff said In an interview with Yahoo! Finance on Monday



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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