Peter Schiff: Rising Stocks Not A Sign of Recovery
by Andrew Moran
Recently by Peter Schiff: 'Experts' Never Learn
Peter Schiff, President of Euro Pacific Capital and Author of Crash Proof, predicted this current economic collapse and is now saying that higher stocks does not mean recovery.
The current rise in the stock market in the United States has ventured many analysts, including President Barack Obama, to declare that recession is nearing its end; however, one man does not think it is coming to an end but just beginning.
Peter Schiff told Money News Monday, “In fact, relative to the meteoric rise of foreign stock markets over the past six months, U.S. stocks are standing still. If anything, it is the strength in overseas markets that is dragging U.S. stocks along for the ride."
The Hang Seng Index has been rising dramatically since March with 10,000 points. German Dax has doubled since March. The Shanghai Composite Index has also doubled since February.
August 12, 2009
Peter Schiff is president of Euro Pacific Capital and author of The Little Book of Bull Moves in Bear Markets and Crash Proof: How to Profit from the Coming Economic Collapse.
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