I think we are certainly more likely to have a bear market rally in stocks without any meaningful bounce in the economy. We can have a bear market rally in anytime.
Off course people on Wall Street can become overly optimistic and read to much into it. This is a major bear market and these bear market rallies help to keep it going because they suck people into the stock market and they create complacency, they create a lot of hope.
Peter Schiff is the President and Chief Global Strategist of Euro Pacific Capital. As a result of his accurate forecasts on the U.S. stock market, economy, real estate, the mortgage meltdown, credit crunch, subprime debacle, commodities, gold and the dollar, he is becoming increasingly more renowned.
He has been quoted in many financial TV channels like CNBC, CNN, Fox News, Fox Business Network, and Bloomberg T.V..