August 13, 2012

The Perfect Storm

The perfect storm is the real fiscal cliff that we’re going to go over. The real fiscal cliff is when we can’t borrow any more money because our creditors wake up to the fact that we’re no good for the debt and interest rates start to rise.

They (interest rates) rise sharply and then we have to choose between default and collapse, or runaway inflation. That’s really the perfect storm and unfortunately we are sailing right in to it. - in Business Insider

Related: SPDR S&P 500 Index ETF (SPY)

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.