What's the Financial Outlook for 2013?
April 9, 2013
Marc Faber, author of his famous Gloom, Boom and Doom Report sees a lot of surprises for investors this year, none of which are positive. Tax increases, rampant spending and geopolitical tensions will negatively impact the economy. He feels there’s a potential for a 20% decline in the stock market. US Treasuries are undesirable as the country’s credit rating continues to dwindle. Plus the dollar is a very sick currency; it’s even weak against the Euro.
Dr, Faber says he’s buying gold every month. And he states: “I will NEVER sell my gold in my life, certainly as long as there are people like Bernanke, Obama and the US congress in power”.
Peter Schiff is president of Euro Pacific Capital and Chairman of Euro Pacific Precious Metals. He is author of The Little Book of Bull Moves in Bear Markets and Crash Proof: How to Profit from the Coming Economic Collapse. His latest book is The Real Crash: America's Coming Bankruptcy, How to Save Yourself and Your Country.
Our Enemy, the Empire