U.S. Economy: A Cyclical Recession Is Already Under Way

None of this is going to keep the U.S. Economy out of recession. The fact that the Japanese lowered their interest rates, the fact that the Europeans lowered their interest rates, that is not going to change anything on Main Street USA. And the fact of the matter is corporate profits are under pressure, retail sales are under pressure, and the layoffs are going to come. It is not going to matter what the global monetary policy is, this cyclical U.S. recession is already under way.

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

A Bear Market in Stocks, Plus An Economic Recession

I think not only we are in a bear market in stocks, I think we are in a recession economically. I think the recession we are in now is going to be longer and deeper than the great recession of 2008-2009. 

All bear market begin as corrections but they do not officially call it a bear market until its down 20 percent. The Russell 2000 Index is down 25 percent, the Transports Index is down 30 percent, many individual sectors and stocks are down a lot more than 20 percent!

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

The Recession Is Going To Gather Momentum

The U.S. Economy is rapidly returning to recession, I think the recession has already begun and I think this greater recession that is going to be worse than the one we had in 2008-2009 begun at the end of last year. It is going to gather momentum through out this year and that is going to make it impossible to raise interest rates again.

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