Euphoria: The Short Term Effect Of The Monetary Stimulus

What we are seeing in the United States is not economic growth. Is the euphoria that is the short term effect of the monetary stimulus.

But when that wears off, just like any other drug, you have the hell of a hangover and the U.S. is heading right back into recession. In fact we are headed for a worse economic crisis than the one we had in 2008.  

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

We Are Not Getting Better Economic Data

I don`t think we are getting better economic data in the United States. We are spending more borrowed money but that`s not good economic data and I think the Fed is not going to taper, in fact I think the ECB just helped them out because now they are going to be able to use this as an excuse not only not to taper but to increase the monthly dosage of QE.

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