”I’m very concerned about the long-term impact of QE2 on the economy. When the government does QE2 it’s not just the stock market that’s going up. Everything goes up. He’s talking higher prices at the pump as well as the supermarket.
So even though QE2 will push the stock market higher – people who own stocks aren’t any richer. When they sell those stocks and go to buy food or gasoline it’s going to be more expensive. It’s an illusion created by the Fed.”
in CNBC, Half Time Report
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.