March 6, 2009
CNN Video Interview, March 3
Peter Schiff in a CNN video interview, March 3.
Well, its going to be difficult, unfortunately what the government is doing is on the process of turning this recession into a depression and its going to last a long time.
The bear market in stocks that has been going since 2000 is going to continue for many, many years. But we have to understand that the bear market in the bonds which has not even begun yet is likely to be even worse over time.
In the long run, americans are going to lose even more money in bonds and in cash then they will in stocks.
We should look internationally for stocks,there are a lot more bargains outside the United States, valuations are much better and the governments are not undermining their economies in the extent that our government is.
I think we should also look at commodities, precious metals, specially gold and silver.
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..