The crisis is imminent, Schiff said. I dont think Obama is going to finish his second term without the bottom dropping out. And stock market investors are oblivious to the problems. Were broke, Schiff added. We owe trillions. Look at our budget deficit; look at the debt to GDP ratio, the unfunded liabilities. If we were in the Eurozone, they would kick us out. Schiff points out that the market gains experienced recently, with the Dow first topping 17,000 on its way to setting record highs, are giving investors a false sense of security. Its not that the stock market is gaining value... its that our money is losing value. And so if you have a debased currency... a devalued currency, the price of everything goes up. Stocks are no exception, he said. The Fed knows that the U.S. economy is not recovering, he noted. It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode. moneymorning/ext/schiff/articles/schiff-americans-will-lose-everything-in-coming-market-crash.php?iris=182531
Posted on: Fri, 28 Mar 2014 01:54:51 +0000
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