Jan 11, 2014

Employment Report: Wall Street Does Not Believe The Numbers

Most people on Wall Street don`t believe these numbers. They are arguing they are an aberration, that we should ignore them, that it is an outlier, that is inconsistent with the data. The truth is, its very consistent. We have been getting mixed data. Everybody is looking at the economic glass as being half full. They are ignoring the bad data but the reality is whatever good data we have, is a direct result of the quantitative easing that the Federal Reserve is now threatening to taper.

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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