Peter Schiff: Today's Horrible Philly Fed Number Just Proves My Point

Peter schiff

Photo: Euro Pacific Capital

Peter Schiff, the head of EuroPacific Capital weighed in on recent economic data in an interview with KingWorldNews.Schiff, a vocal gold bug and dollar bear, is profoundly sceptical of the recovery. 

From the interview:

“Well, we keep getting more weak economic data, which is validating my perspective that we never really had a recovery at all.  We simply juiced the economy up on stimulus, and as the stimulus high wears off, the hangover sets in.”

“We’re seeing that today with weak jobless numbers.  We also have the weakness of the Philadelphia Fed Study.  So the market is just rolling over as it’s coming to grips with the fact that the fantasy investors believed in is just that, fantasy.  It’s not reality.

Schiff goes on to claim gold is oversold, QE is “heroin” for the economy, and the dollar will collapse.

Read the full interview at KWN.

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