Peter Schiff: Why The Fed Won’t Be Able To Rescue The Economy This Time Around
Via SchiffGold.com,
ZeroHedge.com
Thu, 09/19/2019
Peter Schiff has been saying that the Federal Reserve is going to take interest rates back to zero and launch another round of quantitative easing in order to reinflate the bubble economy after the next crash. The central bank successfully pulled this off after the 2008 crisis. By dropping rates to zero and holding them there for nearly a decade, and running three rounds of QE, the Fed has reinflated the real estate bubble, blown up a bond bubble and pumped up the stock market. But Peter said it’s not going to work the next time around. Instead, Fed monetary policy will tank the dollar and lead to an inflationary recession.
Peter admitted he didn’t think the Fed could rescue the economy in 2008.
I underestimated the ability of the Fed to get away with quantitative easing and for the world to basically accept this and to enable this.”
So today, we have even bigger bubbles than we did in 2006-2007.
The question is — the Fed did it before, can it do it again? Peter said he wouldn’t bet on it.
I would not want to bet that is possible given the enormity of the problem now.”
The Rest…HERE
