The reason interest rates have fallen somewhat on the long bond over the past few months is because a lot of bad economic data has now come to the surface. I was expecting all of this bad data because I was saying for months and months as the Federal Reserve first began talking about tapering, that if they actually did it, they would have to undo it because the minute they tapered the market would start to go down (stock market and real estate market), the economy would start slipping back into recession and the Federal Reserve would be forced to have to reverse their position which is what they are going to do.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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