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Schiff Says More Stimulus
Schiff likens the evidence of a US 'recovery' to the reliability of evidence supporting the existence of Bigfoot. Investors and citizens alike are finding out that the propped up US economy is nothing more than a desperate guy in an ape suit.
The weak data surfacing from all angles of the US economy is telling us the economy is sinking back into recession.
The relentless storm of negative news has sent the S&P 500 down better than 10% from its April high. Bonds continue to hit record highs as scared investors pile into them. Schiff compares this herd mentality to that of the Facebook IPO. He warns this mentality will cost investors dearly.
Schiff believes that with the election rapidly approaching and the data only getting worse the Fed will be forced to act. The economy is coming off the stimulus 'high' and the reality is not one US politicians are willing to face. Schiff explains his predictions for interest rates in the US and why he believes they will soon resemble the soaring euro zone rates of many countries across the Atlantic.
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