"People think the economy is expanding. We just got the GDP number, the revised fourth quarter, and it showed a slight expansion, +0.1%. But that`s because the government assumes there`s no inflation. They want us to believe that inflation is about 1.50%. Inflation in my opinion is at least 5%, if not quite a bit more.
But even if inflation is only 3% that means the U.S. economy is contracting, which makes a lot of sense to me. The reason it does not feel like a recovery for most people is because it`s not. It`s still a recession." - in a recent RT TV interview
Related ETFs: SPDR S&P 500 Index ETF (SPY), SPDR Gold Trust ETF (GLD)
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.