Peter Schiff Sees Dark Days Ahead for US Economy

Noted Investor Peter Schiff sees dark times ahead for the U.S. economy, given policies which he sees are like “putting gasoline on a fire.”  according to Epoch Times. He thinks the U.S. is in even a bigger fix than Japan, since he says Japan gave into easing in position of strength but the U.S was in in a position of weakness. He compares the U.S. to a drug addict, and says, “When the effects wear off, the U.S. will find itself in a bigger recession than Europe. It’s like the U.S. took more drugs and it got higher and higher and so, you can say ‘America is doing better, ‘but at what cost?”

Peter Schiff says people aren’t connecting the dots and don’t realize that present American growth is coming at the expense of a future recession. Schiff is warning Europe not to take the same route and to use easing as a way to future growth. Schiff thinks no one should have been bailed out in the Great Recession, and that the economy should have been allowed to take its course. Schiff predicts a nightmare scenario in which the dollar with drop, gold will run up in price and a rebound in commodities.