The Markets Will Be In A Downtrend Until The Fed Gives In

That is why the markets are going down now, they are starting to discount the removal of the QE and I think the markets will be in a downtrend until the Federal Reserve gives in and gives the market another fix. That is what the market needs to sustain the excess valuations. That is what we need to maintain the illusion of a recovery and that is what the Federal Reserve is going to deliver.

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

Video: Why The Markets Are Going Down

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

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.