Never let it be said that Euro Pacific Capital CEO and Chief Global Strategist Peter Schiff is nothing but a “permabear.”
Schiff appeared on CNBC’s Closing Bell yesterday and shared his 2014 outlook on the show. Schiff, who correctly predicted the U.S. housing crash and ongoing economic crisis, told viewers:
I think if the Fed does taper, the only way we’re going to get a rally is if they undo the taper and start doing more QE. I don’t expect Janet Yellen to taper at all- I expect her to continue to talk about it, but not do it. I think investors are really underestimating the severity of the problems that underlie the structure of the U.S. economy and the degree to which the Fed is masking, and actually exasperating, those problems with QE.
And so I think we’re going to get more QE, but it’s not necessarily that bullish for the stock market. It will prevent the bear market that would otherwise take place. But I think it will cause investors to look more overseas. Maybe some of the markets that they’ve been ignoring as they’ve been tripping over each other to buy U.S. stocks I think are pretty expensive.
“Will market bulls continue run into 2014?”
By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)
(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)
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