Bernanke Is Wrong! The Economy Is Getting Worse, Not Better, Says Schiff
Thursday, September 24, 2009 9:46Peter Schiff, president of Euro Pacific Capital and author of Crash Proof 2.0 agrees with my sentiments on the markets. I like his money style. Suits we’ll have to talk about.
“If the Fed really thought the economy was sound, why does he have it on life support? If he pulls the plug, our sick economy is going to die.”
Although the Fed never said the economy is “sound”, Schiff is referring to the FOMC’s renewed pledge that “economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period.”
Nothing that’s occurred in the past six months has changed Schiff’s view that America’s economy is headed for disaster. In fact, he’s even more convinced a true “currency crisis” awaits, and that China will soon stop enabling our reckless borrowing, the basis our “phony” economy. The coming collapse of the dollar and bursting of the Treasury bubble will have devastating consequences for ordinary Americans, and any investors based in dollars, he says. - at Yahoo Finance
