Peter Schiff & James Rickards & Byron Wien: Economy ‘Stuck in Serious Recession’ And America Is On The Brink Of A Global “Financial War.” Major Sell-Off Coming
February 1st, 2013
Peter Schiff: Economy ‘Stuck in Serious Recession’
Officially, the last recession ended in June 2009. But Peter Schiff, CEO of Euro Pacific Capital, doesn’t see it that way.
And he thinks Wednesday’s gross domestic product (GDP) report, which shows the economy contracted 0.1 percent in the fourth quarter, backs him up.
“The weaker-than-expected GDP report shows just how out of touch most professional economists remain with respect to the fundamental weakness of the U.S. economy,” Schiff says in a statement.
“After more than four years of nearly never-ending monetary stimulus and more than $5 trillion worth of new federal debt, the economy remains stuck in a serious recession. The report shows that federal stimulus and deficit spending can’t create sustainable economic growth.”