U.S. Economy: The Recovery is Just An Illusion

I don`t think the economy is actually doing well, that is the problem. It`s just an illusion, it`s the stock market going up, it`s the real estate market going up, it makes people think the economy is doing well but it`s actually doing lousy because the monetary policy that is needed to prop up these bubbles is preventing the kind of restructuring that we need in this economy to actually produce legitimate economic growth and good jobs. That is why when you actually poll the public and ask the people how they feel, to them it feels like a recession.

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