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Whether It's Called Recession or Not, the Downturn Is Just Getting Started
Investors are gleefully unaware of the danger. Expectations are that the inflation dragon will be slayed and roasting on a spit by next summer. At that point, investors fully expect that the Fed will get back into the business of stimulating the economy and monetizing the debt in a backdrop of very mild price increases.
But what if those expectations are wildly off the mark? How will the markets and the government handle the worst bout of stagflation we have ever experienced? It's not going to be pretty, and the time left to prepare financially is getting smaller.
Peter Schiff is one of the few widely known economists and investment professionals to have spoken about the financial crisis before it began. He is a widely followed opponent of debt-fueled growth policies and is known for his advocacy for emerging market and commodity-focused investments in countries with positive fiscal characteristics.
