“As bad as the situation is in Europe and Japan, it is worse here. People thought that QE2 was training wheels on a bike. QE2 isn't training wheels, it's the only wheels. We're a house of cards.” - in CNBC
Related: Bank Of America (BAC), JP Morgan (JPM), Citigroup (C), Wells Fargo (WFC), Goldman Sachs (GS), Financial Select Sector SPDR (ETF) (XLF), ProShares UltraShort 20+ Year Treasuries (ETF) (NYSE:TBT), iShares Barclays 20+ Year Treasury Bond (ETF) (NYSE:TLT), Morgan Stanley (MS), Fifth Third Bancorp (FITB)
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.