Federal Reserve: Trapping People In Money-Losing Investment

Related ETFs: ProShares UltraShort Lehman 20+ Year ETF (TBT), iShares Barclays 20+ Year Treasury Bond ETF (TLT);

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

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.

Americans May Not Be Able To Afford Higher Gasoline Prices

American consumers are already tapped out, they are loaded up with debt, they have part-time, low paying jobs and americans drive a lot. I mean, more than any other people we a re dependent on our cars. We don`t have a really great public transportation system, a lot of americans have to drive a long way to get to their low paying jobs and they may not be able to afford higher gasoline prices.

Related: Valero Energy (VLO), Tesoro Corporation (TSO)

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