In his commentary, Mr. Schiff says that to proclaim that the recession is over with just one quarter of positive growth is a little premature. He recalls that during the Great Depression in the 1930's, the depression continued even with four years of consecutive growth. Calling attention to the rising debt levels and plunging savings rate, Mr. Schiff commented the economic growth in the 3rd quarter is mostly propped up by the stimulus plans and therefore, not legitimate.
Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.