It`s another bubble. The Federal Reserve inflated the first housing bubble and when it bursted and we had the financial crisis, their solution was to blow it back up again. But there`s a big difference between the bubble they created this time and the last one. The last bubble was a main street bubble. Individuals were buying houses, flipping houses, remodeling, extracting their equity out of their houses and spending it. So you had a big phony GDP that resulted from the first housing bubble. This time around is different. This is a Wall Street bubble. The average american is too broke to buy a house, home ownership it at 19-year lows, most americans are renting.
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
- ► 2017 (125)
- ► 2016 (252)
- ► 2015 (344)
- Schiff For President?
- Why Are Gold Prices Falling?
- Gold Prices Are Not Responding To Inflation
- 2014: Stocks vs. Gold
- Inflation Distorts The Markets
- What Is Going To Drive The Price Of Gold And Silve...
- Trading Bitcoins For Gold & Silver
- Bitcoins Will Continue To Trade Lower
- Bernanke On Interest Rates
- The Holy Grail Of Inflation
- Profits & Risk-Taking
- This Is A Wall Street Bubble
- Video: We Have Another Housing Bubble
- Forex Markets: Watch The USD/JPY
- The Housing Market Is Already Rolling Over
- Inflation: Is It Good or Bad?
- Inflation: Gold Prices, Commodities
- Video: Roubini & Schiff Head-To-Head
- Food Inflation: The Real Cause
- Inflation Showing Up In Food
- Stocks: The Stealth Correction
- The U.S. Is The Biggest Inflation Creator In The W...
- Central Bankers Are Embracing Inflation
- Concern About A Strong Euro Is Bullish For Gold
- Yellen Demonstrates So Much Ignorance
- All The Currencies Are Going Up Against The U.S. D...
- Forex Markets: New Zealand Threatens Markets With ...
- U.S. Dollar Weakness: 5 Year Lows Against The GBP
- Financials: Bearish Looking Charts
- A Wake-Up Call For The Bond Market
- Economic Data: April`s ISM & The Weather Excuse
- Employment Report: 1 Million Left The Labor Force ...
- Video: Minimum Wage & Vanishing Jobs
- U.S. Economy: There's No Evidence Of A Recovery
- What Is Going To Happen To GDP If The Fed Withdraw...
- GDP Report Misses Expectations
- The Fed Will Reverse Course On QE
- ▼ May (37)