Friday, June 20, 2014

We are on the verge of a much worse Financial Crisis than in 2008

“The last couple of years are based on a very misguided sense of what’s going on. What has driven the strength of the U.S. market is the false belief that the Fed has saved the U.S. economy,” said Schiff. “We are on the verge of a much worse financial crisis than we had in 2008, because the Fed re-inflated all the busted bubbles, all the while the fundamentals have been eroding.”

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.

1 comment:

  1. AnonymousJune 21, 2014

    while there is plenty of stuff to burn the show will go on

    and still heaps more trees to chop down yet


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