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Not since the 1970's have US investors had to deal simultaneously with high inflation, a slowing economy, and a tightening monetary bias. Not surprisingly, after a highly speculative 2021, fueled by massive fiscal and monetary stimulants, the markets started 2022 with a sharp lurch downward, with action characterized by a shift away from the high-flying risk assets into value-oriented dividend stocks.
But most investors are unaware how deep the stagflation quicksand has become and how powerless the Fed will be in fighting back. A whiplash will occur when the Fed will be forced to admit it has lost the battle with inflation and switches to monetary easing to try to stave off recession.
But most investors are unaware how deep the stagflation quicksand has become and how powerless the Fed will be in fighting back. A whiplash will occur when the Fed will be forced to admit it has lost the battle with inflation and switches to monetary easing to try to stave off recession.
Peter Schiff
Euro Pacific Asset Management,
Chief Global Strategist
Peter Schiff is one of the few widely known economists and investment professionals to have spoken about the financial crisis before it began. He is a widely followed opponent of debt-fueled growth policies and is known for his advocacy for emerging market and commodity-focused investments in countries with positive fiscal characteristics.
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