New Crash will be worse than 2008 says economist
Investors need to prepare for an upcoming stock market crash that will be “worse than 2008.”
That’s according to a well-respected author and investor, making a recent appearance on Fox Business.
Peter Schiff, the CEO of Euro Pacific Capital, says the stock market
collapse we experienced in 2008 “wasn’t the real crash. The real crash
is coming.”
He says that Federal stimulus, or quantitative easing, never works and
that it just makes the economy sicker in the end. “The reason we are so
screwed up is all this quantitative easing is toxic. I don’t doubt that
we are going to pressure Germany into printing. We are like the kid who
is trying to get a friend to ditch school with us to go to the beach. We
are a bad influence on everybody.”
No comments:
Post a Comment