Jun 26, 2014

GDP: Biggest Contraction in 58 Years

2.9 percent is the biggest quarterly contraction in a non-recessionary period (according to the government we are not in a recession), the biggest decline in 58 years! In almost 60 years we had not had a quarter this weak.

Related: Select Sector Financial Select Sector SPDR ETF (XLF), SPDR S&P 500 Index ETF (SPY);

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

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