September 7, 2012

My Warnings About The Real Fiscal Cliff Are Being Ignored

For years, I warned that the bursting of the real estate bubble would trigger a financial crisis. My warnings routinely were ignored based on the near-universal assumption that real estate prices would never fall. That was wrong.

My warnings about the real fiscal cliff also are being ignored because of a similarly false premise that interest rates will never rise. However, if history can be a guide, we should view the current period of ultralow rates as the exception rather than the rule. - in Washington Times

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.
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