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« Boston Fed Says "Markets Are Wrong," Rates Are Going Higher, Sooner | Main | Oil Prices Fall After Producers Fail to Reach Deal at Doha »
Sunday
Apr172016

"This Will All Blow Up In The Fed's Face," Schiff Warns "Trump's Right, America Is Broke"

Euro Pacific Capital's Peter Schiff sat down with Alex Jones last week to discuss the state of the economy, and where he sees everything going from here.

Here are some notable moments from the interview.

Regarding how bad things are, and what's really going on in the economy, Schiff lays out all of the horrible economic data that has come out recently, as well as making sure to take away the crutch everyone uses to explain any and all data misses, which is weather.

"It's no way to know exactly the timetable, but obviously this economy is already back in recession, and if it's not in a recession it's certainly on the cusp of one"

"We could be in a negative GDP quarter right now, and I think that if the first quarter is bad the second quarter is going to be worse"

"The last couple years we had a rebound in the second quarter because we've had very cold winters. Well this winter was the warmest in 120 years so there is nothing to rebound from"

read more.......

 

If the economy is this bad then the chances of a rate hike diminish

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